Garanti Bank Romania posted net revenues of EUR 57.7 million for the first six months of 2014 (H1 2014), up 8.6 percent year on year, according to a statement from Garanti Group. Net profit was EUR 13.9 million, 19 percent lower compared to the first semester of 2013 (EUR 17.1 million).

The overall loan volume of the bank increased by almost 9 percent compared to June 2013, to EUR 1.47 billion at the end of June 2014, while the volume of customer deposits grew by 45 percent. The total number of customers was up by 12 percent.

Garanti Bank is the most important component of Garanti Group Romania. The group had consolidated net revenues of EUR 70.2 million in the first semester, 8.4 percent higher compared to the same period last year, and a consolidated net profit of EUR 16.9 million, down 15 percent yoy. Its total assets reached EUR 2.02 billion, a 14.7 percent increase year on year.

The nonbanking financial institutions which are part of the Garanti Group also registered net profits. Garanti Consumer Finance (the brand under which Ralfi IFN SA operates) made a net profit of EUR 1.3 million, registering a 37 percent growth yoy, Garanti Leasing (the brand under which Motoractive IFN SA operates), had a profit of EUR 1.34 million, and Garanti Mortgage (the brand under which Domenia Credit IFN SA operates) had EUR 0.4 million.

Andrei Chirileasa, andrei@romania-insider.com