Garanti Bank, one of the most dynamic and innovative banks on the local market, inaugurates its 80th branch in Romania, in Baba Novac area, in Bucharest. The new agency continues Garanti’s strategy of offering clients high-end products and top services, via a user-friendly interface, centered on prodiving customers with the comfort, privacy and security they need in order to efficiently carry out their banking operations, said the bank in a statement.
“Since our clients are always in need of faster and more convenient banking services, easy to use anytime and from anywhere, we believe it is very important to be closer to them, near their homes and near their offices. The new agency will be able to complete our activity in the area and will professionally serve our customers in the third sector. By the end of the year, the bank we will open five more agencies – two in Bucharest, one in Cluj-Napoca, one in Timisoara and one in Brasov”, stated Ufuk Tandogan (pictured), CEO Garanti Group Romania.
The branch in Baba Novac addresses Retail and SME clients and will have daily operating hours between 09:00 to 17:00. Garanti Bank’s branch network currently consists of 80 branches in key locations all over the country.
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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