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Banca Transilvania, profit of RON 366 M in Q1

In the first quarter of 2018, Banca Transilvania’s net profit reached RON 366 million, whereas Banca Transilvania Financial Group’s net profit amounts to RON 389 million, a press release informs. During the first three months of 2018, Banca Transilvania granted 44,000 new loans to Retail, SME and Corporate clients.

“It was an upright start for the year, with results as expected, focusing on the experience we provide to customers in all our business segments. We have made significant investments in network’s redesign and service digitization,” Omer Tetik, CEO, Banca Transilvania, says.

The Group’s assets as at the end of Q1 2018 amounted to RON 60.1 billion, of which the bank counts for RON 59.6 billion, net loans representing 50.98 percent of the Group’s assets. Income from operating fees and commissions went up by 18.2 percent. The bank’s operating efficiency is maintained at a comfortable level, below 47 percent.

The loan/deposit ratio at the end of Q1 was 65 percent, while the operating income growth remained a main focus, confirmed by the growing commission and trading income.

As at March 31, 2018 Banca Transilvania’s counted a portfolio of 3.08 million cards, generating transactions almost 34 percent higher compared to the similar period of the previous year.  The bank’s market share in terms of cards transaction volumes is over 20 percent.

BT’s strategy is supported by strong international shareholders such as EBRD, IFC – World Bank Division and investment funds. Moreover, Banca Transilvania has now more than 28,000 Romanian individual shareholders and almost 55 percent Romanian capital.

About Anca Bernovici