Garanti BBVA announces 3Q23 financial results.
Garanti BBVA announces 3Q23 financial results.
Garanti BBVA's contribution to the Turkish economy will remain robust as we start the new century of the Republic
Türkiye Garanti Bankası A.Ş., announced its financial statements dated 30 September 2023. Based on the consolidated financials, the Bank’s net income in the first 9 months of the year recorded as TL 57 billion 583 million 994 thousand. Asset size realized at TL 1 trillion 976 billion 326 million 993 thousand and the Bank’s contribution to the economy through cash and non-cash loans was TL 1 trillion 445 billion 386 million 493 thousand. Actively managing the funding base, customer deposits continued to be the main funding source; 7 3% of assets are funded via deposits. Customer deposit base reached to TL 1 trillion 435 billion 159 million 433 thousand with 58% growth in the first 9 months of the year. Preserving the strong capital stance, Bank’s capital adequacy ratio was realized at 16.5%*. The Bank delivered an ROAE (Return on Average Equity) of 41.1%** and an ROAA (Return on Average Assets) of 4.5%**.x"
*Calculated without the forbearance introduced by BRSA
** In calculations of average return on assets and average return on capital, one -off items are not included in annualization of net profit.