Close panel

Close panel

Close panel

Close panel

Results Updated: 30 Jul 2019

The number of customers who prefer Garanti BBVA has reached 17 million

Garanti BBVA has released its financial statements through June 30, 2019. Based on its consolidated financials, the bank posted a net income of 3.7 billion Turkish Lira (TL) in the first half of the year.


Asset size reached TL 422 billion, and with its cash and non-cash loans the bank contributed TL 316 billion to Turkey’s economy. Actively managing the funding base, the bank saw deposits continue to be the main funding source at 62 percent of the total funding base.

The deposit base reached TL 261 billion representing 6 percent growth in the first half of the year. The bank maintained a strong capital stance with its capital adequacy ratio (CAR) reaching 16.4 percent and delivered an ROAE (Return on Average Equity) of 15.3 percent and an ROAA (Return on Average Assets) of 1.8 percent.

Commenting on the results, Garanti BBVA CEO Fuat Erbil said, “During the second quarter of 2019, a period marked by elections and a perception of continued elevated risk, we successfully managed our balance sheet while maintaining sound asset quality, safe liquidity levels, and a strong capital structure.” The Garanti BBVA CEO went on to detail the factors that underpin the bank’s success, “There is a flawless system behind our results; a system running processes that have been precisely designed and are painstakingly managed by employees who are fully committed and take responsibility at all levels of the business. The increase in our number of customers is a concrete evidence of this.”

Mr. Erbil continued to talk about the customer impact and the bank’s digital transformation, “Additionally, we increased our customer demand deposit market share to 13.2 percent; our deposit base expanded by 6 percent compared to year end. The number of customers who prefer Garanti BBVA reached 17 million, and because of our innovative efforts, the number of digital customers reached nearly 8 million.”

The bank’s CEO also referenced its recent syndicated loan. He attributed the success of the loan – it received much higher demand than the targeted $600 million – to the bank’s foreign borrowing program and its leading position in international banking, which fostered the interest of foreign banks. “Thanks to the proven success of our long-standing corporate structure – demonstrated in our profitable results –  leading global investment institutions recognize BBVA Garanti as one of the few Turkish banks in which it is recommended to invest,” he said.

He emphasized the bank’s overall contribution to Turkey and its economy, “For over 9 years Garanti, as part of BBVA Group, has contributed to the Turkish economy. Now, as Garanti BBVA, with our human-oriented and digitalization-based vision, we will continue to support the economy and society as a whole by living up to our mission: to bring the age of opportunity to everyone.”

Mr. Erbil also stressed Garanti BBVA’s dedication to sustainable growth in Turkey. “We play a leading role in financing projects that add value to our economy. Despite times of high volatility, we have maintained our firm stance on the importance of meeting all customer needs. For example, when access to finance was critical, we helped our women entrepreneurs sustainably grow their businesses. We will continue to work to add long-term sustainable value to all our stakeholders.” Under the protocol framework Garanti BBVA signed with the International Finance Corporation, the bank has provided women entrepreneurs access to TL 390 million of financing.

During the reporting period Garanti BBVA was named the Best Project Finance House, Best Structured Finance House, and Best Syndicated Loan House in the Central and Eastern European region by EMEA Finance for the fourth consecutive year.