BT ended Q3 2014 with RON 394.07 M gross profit


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At the end of nine months of this year, Banca Transilvania’s total assets reached RON 34,047 million, with a loan portfolio balance 5.6 percent higher than at the end of 2013, while the total customer deposits were more than 6 percent higher as compared to the same period, according to a press release. In the same time, gross profit ended Q3 2014 with RON 394.07 million. All these results are above the budgeted levels, bank’s officials said.
In this period, Banca Transilvania (BT) granted 108,000 new loans to companies and retail clients, totalling over RON 7,900 million.
“Our constant support to the real economy and development of new products and services – the focus on increasing activity on all areas of interest to the bank – has led to increasing operational income during Q3 2014, which amounted to RON 1,449 million, 26 percent higher compared to the similar period of last year, when it amounted to RON 1,148 million. The net interest margin stayed at 3.43 percent in Q3 2014, in line with H1 2014 figure. BT’s positive results were supported by activity streamlining and cost control initiatives, which together with the overall business growth lead to an improvement of the cost to income ratio in Q3 2014 by more than 8 percent versus Q3 2013, notably to 42.3 percent” the press release reads.
The number of active clients, both individuals and companies, increased by 14 percent compared to the same period last year, from 1.65 million to 1.88 million clients.
“Banca Transilvania’s attention was focused on retail and SME clients, with tailored approaches for specialized segments. The number of operations through BT accounts was 11 percent, higher versus the same period of 2013, with a fee income increase exceeding 15 percent” said bank’s officials.
As at October 30, the loan portfolio balance reached RON 20,029 million, whereas deposits from clients amounted to RON 27,387 million, resulting in a loan to deposit ratio of 73.13 percent
Non- performing loans, PAR (Portfolio at Risk) for more than 90 days represent 11.47 percent of BT’s credit portfolio, end of Q3 2014, being below the average of the Romanian banking system.

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