Banca Transilvania profit in Q1, higher by 50 pc

The first quarter of this year was a back-to-business year for Banca Transilvania (BT), the officials of the financial institution said.

Thus, BT’s operating income reached RON 599.1 million, being 10.7 percent above the level in the same period of 2015 i.e. RON 541.3 million, a press release informs. The net profit of the bank at March 31, 2016 was RON 228.5 million, which is 50.8 percent higher than in Q1 2015.

“The first quarter of 2016 features sound, sustainable growth of the lending activity and number of operations. Our target is to use the background provided by our solid financial statements in order to invest in new projects, modernize the network, digitize, automate, and modernize flows, so that our bank becomes a convenience store. We wish to increase our income through higher voumes, without raising the costs for clients,” Ömer Tetik, Banca Transilvania’s CEO, stated.

BT’s assets amount to RON 46.12 billion, of which net loans RON 25.5 billion, on the increase by 1.5 percent as compared to the net loan balance at the end of 2015. The number of operations through BT accounts grew by over 13 percent as compared to the same period of 2015, while the income from operating commissions was 16 percent higher.

At the same time, the bank continued to focus on the SME sector in Q1, 2016, granting almost 4,000 new loans to its clients.

At end-March, BT’s portfolio counted 2.60 million cards, generating transactions almost 25 percent higher relative to the similar period of the previous year. The bank’s market share in terms of card transaction volume is 19 percent. BT has over 286,000 credit cards, enrolled in the STAR loyalty program.

Also, following BT’s General Meeting of Shareholders that took place on April 27, it was established the increase of the bank’s share capital with RON 620 million by the issue of 620 million new shares, with a nominal value of RON 1/share. This will imply the capitalization of the reserves from the net profit of the year 2015 to the benefit of the shareholders


Banca Transilvania (BT)net loansoperating incomeprofitshare capitalSMEÖmer Tetik
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