Guaranteed BBVA recorded a net profit of 8 billion 262 million 614 thousand TL in the first quarter of the year.
Garanti BBVA has announced its consolidated financial results for the first quarter of the year. As a result, the net profit of Garanti BBVA was 8 billion 262 million 614 thousand TL, while the size of its assets was 953 billion 347 million 155 thousand TL. Support provided to the economy through cash and non-cash loans amounted to TL 712 billion 12 million 529 thousand.
Deposits continued to constitute the most important weight of the bank’s funding sources. 69% of assets are funded by deposits. The deposit base increased by 12% in the first quarter and reached 651 billion 582 million 488 thousand TL. Maintaining its strong capital focus, the bank’s capital adequacy ratio was 14.8%, return on equity 37.5% and return on assets 3.7%.
Garanti BBVA Managing Director Recep Baştuğ, whose views are included in the statement, said: “We are going through difficult times with increased uncertainties and risks in the global and local economy. In this environment, the Turkish banking sector and Garanti BBVA continued to prove their resilience. The financial sector is very important for the economy to grow on a sound basis. plays an essential role.” used expressions.
Stating that by supporting the Turkish economy above the sector, they increased their lending to TL 309 billion with a growth of 17% in the quarter, Baştuğ said:
“This is a quarter in which we have gained market share in the TL and foreign currency lending sector. We are the leader in consumer lending among private banks. At the same time, we hold the market share market share in terms of total and total revenue We benefit from a solid capital structure We closed the first quarter of 2022 with a very good financial performance and net growth of more than half a million customers. With our continuous and uninterrupted investments in technology, we have a complete and integrated service that includes easy, accessible and personalized banking transactions and services across all channels. “We work to offer a banking platform. In this context, we aim to listen to the needs of our customers and respond to them as soon as possible. Artificial intelligence and machine learning, which can be integrated into all kinds of business processes, enable us to deliver smarter, differentiated and personalized experiences to our customers.”
“We create new proposals and plans”
Recep Baştuğ also shared his views on Garanti BBVA Mobile app. Stating that they allow customers to be prepared for unexpected situations by better monitoring their financial situation under the financial health framework, which they have implemented, Baştuğ said: “In addition to planning today, we also offer them special information to improve their financial situation. planning skills by gaining the ability to save for the future. To improve the financial health of our customers. We develop suggestion mechanisms where needed, and when they are successful, we create new suggestions and plans so that they can sustain their motivation.” used the expressions.
Highlighting the importance of sustainability, Baştuğ pointed out that the benefits they can bring to individuals and society as a financial sector are not limited to the financial needs and circumstances of customers.
Baştuğ said sustainability practices are one of the most important value creation mechanisms in the industry.
Emphasizing that they are playing a leading role in Turkey’s green transformation with their innovative financing models with the motto “We take good care of the world, we take good care of the future”, Baştuğ made the following assessments :
“We have clear objectives and commitments in this regard. We have only financed renewable projects in the energy sector within the framework of project financing since 2014. Last year, we decided not to finance coal and we will eliminate coal risk in our portfolio in 2040. Dow Jones Sustainability Index” for the 7th consecutive year. We are the only Turkish company to be included in the Emerging Markets category (DJSI – Dow Jones Sustainability Index Emerging Markets) of (DJSI). We integrate environmental, social and governance criteria into our business models and contribute significantly to the Sustainable Development Goals. As BBVA Guaranteed, we only care about the value we add to the environment, social life and technology, not the impact we create in the economy, and we act with this awareness. .To all of our stakeholders, especially our customers, who have been on this journey, supported and trusted us, and my colleagues who have put in a lot of effort and input into this process. Thank you.”
Garanti Bank, Turkish Lira, Turkey, Finance, Economy, News