Banca Transilvania (BT) has overcome Banca Comerciala Romana (BCR) and has become the largest banking group in Romania by assets, but also the most profitable.
The BT Group had, at the end of June, assets of RON 75.3 billion, up by 25% against the same period last year and by RON 5.1 billion larger than BCR’s, zf.ro informs.
The net profit at half year was of RON 865 million for BT and of RON 697 million for BCR.
The two groups had different strategies. Banca Transilvania has acquired, in the past years, Volksbank as well as Bankpost.
Banca Transilvania has positioned itself as a bank for small enterprises and has granted loans.
BCR, taken over in 2006 by the Austrian group Erste, had to face the crisis in 2008 and the increase of the share of non-performing loans. Most of them were sold, which explains the difference in assets.
Ten years ago, BCR was the largest bank by assets and BRD was positioned second.
In the past years, the Romanian banking sector has undergone through an important restructuring and consolidation process. Piraeus Bank was taken over by JC Flowers fund and Banca Carpatica has merged with Nextebank, resulting in Patria Bank.
Furthermore, Bank Leumi withdrew from Romania and its assets were taken over by the British fund Argo Capital. Marfin Bank was sold to a consortium of funds. Finally, OTP Bank was to take over the National Bank of Greece, but the National Bank of Romania (BNR) has rejected the transaction. Previously, OTP had bought Millenium Bank.