Garanti BBVA Sets Ambitious Goals for 2025 While Navigating Economic Uncertainty

(IN BRIEF) Garanti BBVA’s CEO, Mahmut Akten, shared the bank’s strategic priorities and 2025 goals during a meeting with Turkish media, discussing the global and local economic landscape. Despite global uncertainties, Akten expressed confidence in Türkiye’s economic program and the banking sector’s positive trends. Garanti BBVA reported strong financial results, surpassing TL 2 trillion in loans and achieving a net income of TL 66.95 billion. Akten outlined the bank’s focus on sustainable growth, customer experience, sustainability, and employee engagement. The bank’s commitment to AI-driven solutions and green finance was also highlighted, with Garanti BBVA aiming to provide TL 400 billion in sustainable financing by 2025. Akten also emphasized Türkiye’s role within the BBVA Group and the bank’s global strategic impact.

(PRESS RELEASE) ISTANBUL, 19-Feb-2025 — /EuropaWire/ — Garanti BBVA’s CEO, Mahmut Akten, provided an in-depth overview of the bank’s strategies and ambitious targets for 2025 during a meeting with Turkish media. The event, held at the Pendik Technology Campus, also included a visit to the bank’s state-of-the-art TIER IV-certified Data Center. Akten addressed both global and local economic challenges, acknowledging the ongoing uncertainties but expressing confidence in Türkiye’s macroeconomic program and the banking sector’s balanced growth.

Garanti BBVA Reports Strong Financial Performance

In its financial update for January through September 2024, Garanti BBVA reported impressive results, surpassing TL 2 trillion in loans. The bank’s net income reached TL 66.95 billion, with total assets of TL 2.88 trillion. Loans provided by the bank totaled TL 2.17 trillion, with Turkish lira-denominated loans exceeding TL 1 trillion. Customer deposits remained the primary source of funding, growing by 25.9% to TL 2.02 trillion, accounting for 70% of the bank’s assets. Key financial metrics also reflected strong performance, with a return on average equity (ROAE) of 32.9% and a return on average assets (ROAA) of 3.5%.

Akten attributed the bank’s success to its customer-centric approach, emphasizing Garanti BBVA’s dedication to sustainable growth through a combination of digital innovation, AI, and a robust corporate culture. These initiatives are not only designed to enhance customer experience but also contribute to the broader Turkish economy’s growth.

Garanti BBVA’s 2025 Strategic Priorities

Looking ahead, Akten outlined four primary priorities for 2025:

Sustainable Strong Growth
Best Customer Experience
Sustainability
Our Employees

These focus areas aim to solidify Garanti BBVA’s position as a leading bank in Türkiye, driving value for stakeholders while continuing to deepen relationships with its 28 million customers. Akten emphasized that the bank’s loan-to-asset ratio of 59%, well above the sector average, reflects its focus on meeting evolving customer needs and reinforcing customer trust.

Leadership in Sustainability and AI-driven Personalized Banking

Akten also highlighted Garanti BBVA’s commitment to sustainability, particularly in financing the green transition. The bank has provided TL 291 billion in sustainable financing to date, aiming for TL 400 billion by 2025. The bank actively supports customers in carbon-intensive sectors as they transition to more sustainable, low-carbon models.

Further demonstrating its technological leadership, Garanti BBVA has leveraged artificial intelligence to improve the customer experience, with 98% of all banking transactions now conducted through non-branch channels. The bank’s digital platform serves 16.7 million customers, offering personalized, seamless solutions.

Economic Landscape and Türkiye’s Rebalancing

Reflecting on 2024, Akten described it as a year of economic rebalancing for Türkiye. He pointed to the decline in inflation since its peak in May 2024, as well as the narrowing of Türkiye’s current account deficit from $40 billion in 2023 to $10 billion in 2024. Additionally, Türkiye’s net international reserves have seen a significant increase.

Akten also mentioned that despite the initial interest rate cuts, Türkiye is expected to maintain a tight monetary policy to encourage savings in Turkish lira.

Garanti BBVA’s Role in the BBVA Group

In his remarks, Akten emphasized Garanti BBVA’s crucial role within the BBVA Group, noting that Türkiye represents one of the top three markets in the global group. He highlighted the opportunity for Garanti BBVA to share its innovative solutions on a global platform, benefiting from the synergies with BBVA as the bank continues to expand its customer base internationally.

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SOURCE: BBVA

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