In 2007, Garanti showed a huge 99.2% increase in net profits to $2.5bn along with a 54.9% rise in Tier 1 capital to $6bn, and a 32.9% increase in total assets to $65.5bn, producing a record high 40.4% return on average equity, almost double the sector average.
In key developments, Garanti produced the highest growth in new branches with 105 in 2007, along with achieving the second largest ATM network by installing 400 new ATMs, the highest growth among its peers. The bank also increased the number of active customers by 16% to 4.7 million while increasing average customer life to 4.21 years from 3.97 years.
