Garanti Bank

Garanti Bank
Type Public (ISE:GARAN)
Industry Banking
Founded 1946
Headquarters Istanbul, Turkey
Key people Mr. Ferit Şahenk
Products Financial Services
Net income 3.1 billion Turkish lira (2010)
Parent Doğuş Group
Website www.garanti.com.tr

Garanti Bank is the second largest-private bank in Turkey with US$90 billion in assets as of December 31, 2010. On November 2nd, 2010 BBVA (Banco Bilbao Vizcaya Argentaria), Spain's second largest bank, acquired 24.9% stake in Garanti Bank for $5.8 billion. Garanti provides retail, commercial, corporate and private banking services to ten million customers. It operates 853 domestic branches, six foreign branches (in Luxembourg, Malta and Northern Cyprus, four international representative offices (in Moscow, London, Düsseldorf, and Shangai), over 3.000 ATM, a call centre and an Internet bank. Financial magazine Euromoney has picked Garanti Bank as "Best Bank in Turkey" for eleventh time in 2011. Garanti Bank is also recognized as the "Best Managed Company in Central and Eastern Europe" by Euromoney Institutional PLC, being the first Turkish Bank entitled to this award. Other awards include silver certificate from IIP(Investors in People), gold medal from ContactCenterWorld organization, Best Banking Group by World Finance Magazine.

As a universal bank with leading presence in all business lines, Garanti serves to 10 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services through its 9 financial subsidiaries that include payment systems, pension, leasing, factoring, brokerage and asset management.

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