BT, profit of EUR 246 M in Q1. “We take advantage of the opportunities on the local banking market”

The first quarter of 2017 brought positive financial results for Banca Transilvania (BT), registering a net profit of RON 246 million, whereas Banca Transilvania Financial Group’s net profit amounts to RON 267 million, a press release informs.

“We had a good start this year, with results according to our objectives and expectations. The outlook of Romania’s economic development encourages us to go on with our ambitious plans to grow and consolidate Banca Transilvania  and the BT Financial Group.  We take advantage of the opportunities on the local banking market and invest in digitalization. At the same time, we will continue to focus on strengthening the relationship with our clients, on increasing our efficiency and the bank’s market value,” Horia Ciorcilă, Chairman of BT’s Board of Directors, stated.

During the first three months of 2017, Banca Transilvania (BT) granted almost 36,000 new loans to Retail, SME and Corporate clients.

The Group’s assets as at the end of Q1 2017 amounted to RON 52.1 billion, of which RON 51.9 billion for the bank, net loans representing 54 percent of the Group’s assets.

As at March 31, 2017, Banca Transilvania’s portfolio counted 2.9 million cards, generating transactions almost 23 percent higher relative to the similar period of the previous year. The bank’s market share in terms of card transaction volumes is over 19 percent. BT has over 331,000 credit cards enrolled in the STAR loyalty program.

In the period January-March 2017, BT gross loans (before write-offs) increased by 3 percent, across all business lines. Currently, over 820,000 clients use BT’s internet banking solution and almost 300,000 clients access BT products and services via mobile banking.