Garanti BBVA reports solid first-half results driven by customer-centric growth, digitization and sustainability
BBVA’s Turkish unit reported net income of TL 53.6 billion for the first half of 2025, according to consolidated financial statements as of June 30. Total assets grew to TL 3.82 trillion, while the bank provided TL 2.95 trillion to the economy through cash and non-cash loans. Customer deposits remained the primary source of funding, accounting for 69.5 percent of total assets. The deposit base expanded 26.7 percent in the first six months to TL 2.66 trillion. The bank maintained a robust capital adequacy ratio of 15.6 percent.* Return on average equity (ROAE) stood at 30.7 percent, while return on average assets (ROAA) was 3.1 percent.
*Calculated without the forbearance introduced by BRSA
Garanti BBVA CEO Mahmut Akten said the second quarter was shaped by rising geopolitical tensions and uncertainty in global trade, with protectionist trends influencing monetary policy. The central bank’s consistent approach supported confidence in disinflation and price stability, but cautioned that additional regulations continued to pressure sector profitability. Looking ahead, Akten pointed to the pace of disinflation and policy rate changes as critical factors for the sector.
Despite sector-wide margin compression from higher funding costs, Garanti BBVA sustained strong performance through robust collections, subsidiary growth, and solid loan expansion, resulting in a 30.7 percent return on average equity. Gains in market share across mortgage, consumer, and SME lending maintained the bank’s leadership in Turkish lira loans, while a 37 percent annual rise in TL time deposits underscored Garanti BBVA’s position as the largest private-sector bank in Turkish lira deposits.
The bank scored recent funding successes, such as a full rollover of its sustainability-linked syndicated loan in June. A $500 million subordinated bond issuance in July was oversubscribed by four times, strengthening the bank’s capital position and demonstrating Garanti BBVA’s solid standing in international markets.
BBVA’s Turkish franchise focuses on customer-centric growth, digitization, and sustainability. Nearly all transactions now occur outside branches, with 86 percent of product sales completed digitally. The redesigned mobile app serves over 17 million active users with real-time financial advice, while the bank’s AI-powered assistant, UGI, handled more than 63 million customer interactions over the past year. The newly launched My Banker unit, which extends remote, personalized banking to SME and commercial clients, is a first in the sector.
Sustainability is another core focus. The bank reached its TL 400 billion sustainable finance target for 2018-2025 ahead of schedule. BBVA’s Turkish unit has now set a new goal of TL 3.5 trillion in sustainable finance by 2029. The bank also adopted the Equator Principles to enhance its environmental and social risk management in project finance.
“The trust our customers and stakeholders place in us is evident in our strong financial results and in our position as the most valuable bank in the BIST 100 index,” he concluded.