Banca Transilvania net profit rises to RON 375mln in 2013

Newsroom 13/02/2014 | 12:00

Banca Transilvania  Thursday said its net profit rose 17% to 374.9 million lei (EUR83.7 million) in 2013, on higher revenue from lending. The fourth quarter of 2013 saw the bank extended 25.000 new loans, worth a total RON 3.2 billion, writes MEDIAFAX.

“The September-December period was one of the best quarters for the bank’s lending portfolio in the last years,” the bank’s Chairman Horia Ciorcila said in a statement.

Overall for 2013, the bank reported a 9% increase in loans to RON 19.2 billion. The lender’s operating income rose 12% on the year to RON1.66 billion. Net interest income increased 27.3% to RON1.2 billion, but net income from fees and other commissions fell 14.8% to RON361 million.

“The bank’s positive results in 2014 was supported by our initiatives to increase efficiency, including cost control, which lead to a three-point improvement of our expenses/income balance, which reached 48.7%”, the bank release showed.

The bank’s solvency reached 13.77 percent, given the accumulated profit over the year.

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