Banca Transilvania net profit rises to RON 375mln in 2013

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.

Read more about

CMS advises OTP Group on the sale of OTP Bank Romania to Banca Transilvania

read more