Garanti Bank Romania Gets EUR18M Capital Increase

The share capital increase is a step in the bank’s bid to become one of the top ten lenders active in Romania, according to Murat Atay, chief executive officer Garanti Bank Romania.

Prior to the operation, the bank had a share capital of 870 million lei (EUR204 million). Garanti Bank ranks 14 locally in terms of assets, with a market share of 1.7%.

In the first nine months of the year, the bank posted a net profit of EUR1.9 million, under international financial reporting standards. Garanti Group, which clusters four units in Romania – Garanti Bank, Garanti Credite de Consum, Garanti Leasing, Garanti Credite Ipotecare – posted a consolidated profit of EUR6 million in the same timeframe. (EUR1=RON4.298)