Garanti BBVA provided TRY 445.8bn support to the economy through cash and non-cash loans in the first quarter of the year, according to the bank’s financial statement. “Increase in interest and foreign exchange rates has put us in an extremely active period. Our market share in TRY loans rose to 10%,” said Recep Bastug, CEO of Garanti BBVA.
The net profit of the bank totaled TRY 2.5bn in this period. “We are reinforing our cautious stance on the assets side while we continue our support to the economy. We’ve started to take measures for some adverse developments expected in 2021,” said Bastug.
Latest News:
A possible reverse capital control ahead
What matters on Wednesday, March 29
What matters on Tuesday, March 28
What matters on Monday, March 27
Central Banks keeps interest rate steady at 8.5%
The message from Russia: ‘I am in the Middle East too’
What matters on Thursday, March 23
The post-earthquake needs analysis
What matters on Wednesday, March 22
World automotive sector influenced by semiconductors (chip sector) demand
The highest monthly CAD in the history of the republic
What matters on Tuesday, March 21
What matters on Monday, March 20
Dollar lost its savings instrument edge
Quake-hit cities to get investment support
15% of earthquake victim voters migrated
What matters on Tuesday, March 14
A law specific to Istanbul is a must: Mayor of Istanbul
Share of compensation of employees in the GVA hits a 25-year low

Leave a Reply