Turkiye Garanti Bankasi Anonim Sirketi ( (TKGBF) ) has realeased its Q3 earnings. Here is a breakdown of the information Turkiye Garanti Bankasi Anonim Sirketi presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Türkiye Garanti Bankası Anonim Şirketi, commonly known as Garanti BBVA, operates in the financial sector, offering a wide range of banking and financial services primarily in Turkey, and is a subsidiary of Banco Bilbao Vizcaya Argentaria (BBVA). The latest earnings report for the nine-month period ending September 30, 2024, highlights the bank’s financial performance amidst a challenging economic environment. The bank’s consolidated financial statements reveal significant growth in total assets and net profit compared to the previous year. Total assets reached approximately 2.88 trillion Turkish Lira (TL), showcasing a robust increase from the same period in 2023. The net profit for the period stood at 66.27 billion TL, reflecting a substantial rise from the prior year’s 57.22 billion TL. The bank’s management attributed this growth to strategic initiatives and favorable market conditions, despite a qualified conclusion from auditors due to prior reversals of provisions. Looking ahead, Garanti BBVA remains focused on maintaining its growth trajectory and strengthening its market position, leveraging its comprehensive range of financial services and the backing of its parent company, BBVA.
