Banca Transilvania, optimistic perspective over the whole year as has posted a gross profit up by 8 pc in H1

4

Banca Transilvania (BT) posted a gross profit of RON 226.31 million in the first six months of the year, 8 percent higher compared to H1 2014. The impact of accounting standards which are applicable starting with January 2015 is included, a press release pointed out.

“We are contented with the half year results of BT Financial Group. They confirm that both our organic growth expectations and the Volksbank acquisition forecasts have been correct and ensure an optimistic outlook for the near future. We keep our focus on the development of BT Financial Group, on the relationship with our customers, and we remain one of the important lenders to the Romanian economy, as we witness loan demand growth triggered by the improvement of the business environment and the customer confidence enhancement,” Horia Ciorcila, Chairman of the Board, stated.

At end-June, the loan portfolio balance amounted to RON 22,255 million, whereas customer deposits reached RON 31,917 million. Also, at the end of H1 2015, the loan portfolio balance was 13.4 percent higher compared to the end of 2014, even though the loan write-off process continued in H1 2015 (RON 438 million). The total customer deposits were more than 6.2 percent higher as compared to December 2014.

According to Ömer Tetik, BT CEO, the financial results of this first semester are in line with the bank’s strategy, giving way for an optimistic perspective over the whole year.

Non-performing loans Portfolio at Risk (PAR) with more than 90 days represent 9.84 percent of BT’s credit portfolio, falling below the 10 percent threshold for the first time within the last years, the release notes.

The number of active clients – both individuals and companies – increased by 9 percent compared to the same period last year, from 1.76 million to 1.92 million clients. The number of operations through BT accounts was 10 percent higher versus the same period of 2014, with a fee income increase exceeding 9 percent.

During H1 2015, the bank granted, across all business lines, more than 67,000 new loans in total amount of RON 3,529 million.

The Romanian lender ended H1 2015 with a portfolio of 2.39 million cards, generating transactions 18.02 percent higher than in the similar period of last year. The bank’s market share in terms of card transaction volumes reached 17.9 percent. BT has 240,000 credit cards, enrolled in the STAR loyalty program.

 

- Advertisement -

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More