2015
Constant €
Net attributable profit
€ 371 M
-1.1% vs. 2014
Strong activity continues
Good performance of recurring revenue
Outstanding asset quality indicators
A detailed explanation of the aforementioned business area can be found in the Management Report.
This area includes BBVA's stake in Garanti (39.9% since the third quarter of 2015), which has been incorporated into the Group's financial statements by the full integration method.
Garanti is a banking institution with more than 23,000 employees that provides a wide range of financial services to its nearly 14 million customers through an extensive distribution network, with 971 branches in Turkey, 7 in Cyprus, 1 in Luxembourg and 1 in Malta. It also has 3 representative offices in London, Dusseldorf and Shanghai.
Garanti Bank footprint
In line with the six strategic priorities defined by the Group in 2015, Garanti has established its management priorities for 2016:
Extend the digitalization of the customer base and digital sales, offering an uninterrupted experience utilizing the most easily accessible channels. Garanti is a leader in both Internet and mobile banking in a market where a vast majority of non-cash financial transactions are conducted through digital channels. Increasing the share of digital channels in bank's total sales is another key priority. The goal is to leverage digital channels more by improving digital services with new features and by developing new applications and new digital products.
Garanti aligns its management priorities to BBVA Group strategic priorities
Ongoing improvement of the high level of efficiency achieved in processes and business models will continue to be a priority in the future, together with other cost reducing measures. Digitalization of customers and processes, together with the mobilization of sales force via digital solutions, are the bases supporting improvement of efficiency. In this regard, boosting the digital conversion of branch transactions will be another focus area.
Development of employee commitment, maintaining the loyalty of Garanti's highly qualified staff as the core for sustainable success. The leadership and competency model will be redesigned and integrated with other human resources and training practices, such as recruitment, performance management, succession planning and development plans.