Garanti BBVA reports strong results for the first nine months of 2026
Türkiye Garanti Bankası A.Ş. has announced its financial statements for the period ended September 30, 2026. On a consolidated basis, the Bank’s net income for the first nine months of the year was TL 98.2 billion.
Total assets stood at TL 5.6 trillion, and the Bank’s contribution to the economy through cash and non-cash loans reached TL 4.2 trillion.
Customer deposits remained the main source of funding, accounting for 65.1% of total assets, reflecting the Bank’s active management of its funding base. The customer deposit base grew by 15.5% in the first nine months of the year to TL 3.6 trillion. Maintaining its strong capital position, the Bank posted a capital adequacy ratio of 16.1%. Its return on average equity (ROAE) was 27.5%, while its return on average assets (ROAA) was 2.6%.
Garanti BBVA CEO Mahmut Akten highlighted the impact of monetary policy and funding conditions on the banking sector during the third quarter. “Tight monetary policy and macroprudential measures continued to shape the operating environment,” he said. However, lower funding costs in the second half of the quarter improved the sector’s profitability outlook. Against a backdrop of ongoing global developments, Akten also stressed the importance of “disciplined pricing and effective balance sheet management” amid changing interest rate and funding conditions.
Commenting on the Bank’s third-quarter performance, Akten continued: “Supported by lower funding costs and proactive balance sheet management, we achieved a significant improvement in our net interest margin and continued to strengthen our profitability. In line with our customer-centric, lending-focused growth strategy, we further solidified our leadership in Turkish lira lending, gaining market share across a range of segments”.
On the funding side, Garanti BBVA maintained a well-diversified deposit base, supported by long-standing customer relationships, while further diversifying its funding sources through subordinated debt issuance. Akten also highlighted the bank’s USD 125 million sustainable subordinated bond issue, whose proceeds “will be used to finance green investments” by micro, small, and medium-sized enterprises (MSMEs) and improve access to finance for women entrepreneurs.
Commitment to sustainability and the bank’s role at COP31
Highlighting the Bank’s sustainable finance priorities and its role at COP31, Akten added: “Under our TL 3.5 trillion sustainable finance commitment for the 2018–2029 period, we have provided TL 1.9 trillion in cumulative financing. By supporting our customers’ transition investments across a broad range of areas, from energy and industry to resource efficiency, we continue to contribute to Türkiye’s sustainable economic growth and international competitiveness”.
The CEO also highlighted the importance of COP31, to be held in Antalya, Turkey, as an opportunity to advance the country’s sustainable transition. “As a global banking partner, together with BBVA, we aim to connect Turkey’s transformation potential with international capital, specialized expertise and new financing opportunities,” he said.
“At Garanti BBVA, we continue to execute our sustainable growth strategy by combining our strong financial position with our customer-centric business model and technological capabilities. I would like to thank all our colleagues for their contributions to these achievements and all our stakeholders for their continued trust,” he concluded.