Banca Transilvania’s net profit at RON 496 mln in H1 over higher lending

Banca Transilvania recorded a net profit of RON 496 million in the first six months, higher by 8 percent compared with the same period of 2016, while the group recorded a net profit of RON 513 million.

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.

During the reported period, the loans granted to customers increased by 5 percent for each of the business lines. In the first semester of 2017, Banca Transilvania granted a number of 80,000 new loans to individuals, SMEs and corporate customers, which means a daily number of over 700 loans processed and approved by the bank, 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 June 30.

During this first half of the year BT Mic was launched, an entity dedicated entirely to financing small businesses. In only four months since its launching, BT Mic provided financing of RON 90 million to nearly 2,000 micro companies, with the purpose of enhancing the bank’s objective to sustain Romanian entrepreneurs.

“Our results confirm the internal growth estimations for this year. 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. For the rest of the year, as the bank of the entrepreneurs, we will play our role contributing to a faster pace of public and private investments, counting on predictable public policies” said Horia Ciorcila, chairman of the Board of Administration of Banca Transilvania.