Banca Transilvania increased its profit by 8 pc in the first semester

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The net profit for the six-month period ended 30 June 2017 of Banca Transilvania amounts to RON 496 million, up by 8 percent year-on-year, while the Group recorded a net profit of RON 513 million, as a press release informs. The Group closed the first semester of 2017 with RON 53.4 billion in total assets, out of which RON 53.2 billion related to the bank, comprised of loans and advances to customers and net finance lease investments in proportion of 54 percent.

“This progress translates also in the 80.000 new loans which have been granted this year to our customers. Banking is changing radically and with an accelerated pace, being aware of this, we are rolling out a vast and complex digitalization process, aiming business and customer interaction simplification. We invest in online platforms and processes, but at the same time we pay attention to related risks, to be able to provide our customers with the best possible digital-network combination,” Horia Ciorcila, Chairman of the Board of Administration of Banca Transilvania stated.

During the reported period, the loans granted to customers (unadjusted by the impairment allowance and before any write-off operations) increased by 5 percent for each of the business lines. In H1, the financial institution granted new loans totaling over RON 6 billion. Nearly 45 percent of the Romanian start-ups, meaning around 34,000 out of 80,000 new companies, opened an account with Banca Transilvania during the six-month period ended 30 June 2017.

As regards SMEs & micro segment, the number of active customers of Banca Transilvania increased by over 18 percent in H1 yoy to nearly 230,000, while the first six months of 2017 brought 47 percent additional volumes of placements.

As of 30 June 2017, Banca Transilvania numbered nearly 3 million cards issued to customers, with a transactional volume of RON 22 billion during the first six month of 2017. The number of payments concluded with cards exceeded 60 percent of the total number of transactions.

The NPE ratio is 8.1 percent, while the coverage ratio is 65 percent. 900 thousands of the Bank’s customers are enjoying internet banking services, while over 300 thousands customers are using mobile banking.

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