Garanti Bank, one of the most dynamic and innovative banks on the local market, opens a new branch in Bucharest, as part of its development strategy targeting key urban areas with high traffic and increased visibility, said the bank in a statement.
Located in AFI Palace Cotroceni, at the ground floor, the branch carries on the friendly Garanti Bank concept centered on customer comfort and speed, mixing the use of technology with premium client service.
“We constantly aim at making customers’ banking activities much simpler, faster and more convenient. Our priority is to be where our clients need us and offer them at all times useful and quality products and services. The new branch is placed in a dynamic residential area, reaching our clients for whom efficiency in terms of financial services is of utmost importance”, stated Ufuk Tandogan, CEO Garanti Group Romania.
The branch in AFI Palace Cotroceni addresses Retail and SME clients and will have daily operating hours between 10:00 to 21:00. Garanti Bank’s branch network currently consists of 79 branches in key locations all over the country. By the end of the year, the bank will increase its national presence, reaching 85 agencies.
The number of BancoSmart ATMs will also be increased, expanding the already widest network of smart ATMs in Romania (of almost 300), which can be utilized by anyone, not only the bank’s clients, for transactions with or without card.
The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank
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