Garanti BBVA’s reaches TL 3 trillion in total assets
Garanti BBVA announced its financial results as of December 31, 2024. Net income totaled TL 92.18 billion while assets stood at TL 3 trillion. The bank also contributed TL 2 trillion to the economy through cash and non-cash loans. Customer deposits funded 70 percent of assets, with a total customer deposit base of TL 2.10 trillion (up 30.8 percent in 2024). Garanti BBVA also reported a capital adequacy ratio of 18.2 percent,* Return on Average Equity (ROAE) of 32.5 percent and Return on Average Assets (ROAA) of 3.5 percent.
*Does not include the forbearance introduced by BRSA
Garanti BBVA CEO Mahmut Akten underscored what a significant year 2024 was for the banking sector as the steps taken to normalize economic policies began to produce positive results. Simplified regulatory requirements allowed the sector to develop stronger, more sustainable growth strategies.
Asset quality was one of the most important issues for the banking sector. “Our emphasis on asset quality, coupled with accurate risk management strategies and solid operational infrastructure allowed us to strengthen our robust financial performance,” the CEO noted.
Garanti BBVA remained the leader in loans issued in Turkish lira in 2024, he indicated, expanding market share across the board. As a result, the bank not only added greater value to the existing customer portfolio, but also made substantial progress in acquiring new customers. “With our customer-centric balance sheet structure, we continued to grow our funding base and uphold our traditional leadership in TL deposits,” he said.
Mahmut Akten also pointed to the bank’s success in global capital markets in 2024. Garanti BBVA issued several bonds, underscoring the bank’s long-term international relationships, the trust investors have in its strong financial performance, and the positive investment sentiment toward Türkiye. “More than financial instruments, these bonds reinforced both the international credibility of our bank and our determination to contribute to the economic growth of our country,” he stressed.
2024 was also a record-breaking year in terms of the bank’s strategic goals. In line with Garanti BBVA’s mission to simplify customers’ lives with innovative products and services, it took significant steps forward in its digitization journey. Garanti BBVA’s brand ‘TAMİ’ continued to deliver speed, simplicity and convenience to transform payment processes. Meanwhile, the bank’s subsidiary Garanti BBVA Dijital Varlıklar reinforced its leadership in digital asset expertise.
2024 was also a year in which the bank increased green finance for renewable energy projects, while continuing to contribute to environmental sustainability through green bonds. As a result of these initiatives, Garanti BBVA received a score of 85 points in the S&P Global Corporate Sustainability Assessment, the highest in the Turkish banking sector on the ESG platform.
Throughout 2024, Garanti BBVA continued to create value in every segment, combining its strong financial structure with its customer-centric approach and sustainable growth strategy. “I would like to thank my colleagues for their hard work and dedication, and all our stakeholders who supported and trusted us,” Mahmut Akten concluded.