Garanti expands into two sectors

GarantiBank International, the local branch of a Turkish-held bank registered in the Netherlands, is getting ready to release a number of products for small and medium-sized enterprises and also for individuals (real estate loans). The bank has previously focused on funding for trade operations. GarantiBank has opened its first office in Bucharest, six years after it began operating as a branch. The Dutch Bank is 100% held by Turkiye Garanti Bank. The Romanian branch was established in 1998 and currently employs 37 people. Mainly providing financing services for trade operations, the branch increased its assets from an initial 20 million euros to its current 90 million euros. The bank’s officials say new locations will be opened given sufficient demand. “We have the support of our parent bank, GarantiBank International NV Amsterdam in this regard, whose capital currently stands at 190 million euros,” its officials said during the opening of the office. ZF