Banca Transilvania nine-month profit down 9.5 percent to EUR 54 mln

Newsroom 31/10/2013 | 11:13

Romania’s Banca Transilvania (BT) saw its net profit fall by 9.5 percent in the first nine months of 2013 to RON 240 million (EUR 54.4 million), while the operational income rose to due to a third quarter hike in lending.

Its gross profit, meanwhile, added 4 percent to RON 284.5 million (EUR 64.4 million).

Horia Ciorcila, president of the administration board at BT, says the results confirm the lender’s “adequate” business model.

“Our focus will be in the next period to continue lending, financing mainly in RON, and supporting start-ups, SMEs and retail customers,” said Ciorcila in a statement.

BT’s operating income rose by 3 percent to RON 1.1 billion (EUR 249 million), while expenses added 4 percent to RON 582 million (EUR 132 million).

The loan book added 5 percent to RON 18.4 billion (EUR 4.1 billion), driven by the SME segment. The level of non-performing loans stands at 13.2 percent. The lender increased provisioning by 10 percent to RON 2.3 billion (EUR 521 million).

On deposits, the lender registered a 5 percent hike to RON 24.4 billion (EUR 5.5 billion).

BT’s total assets rose by 2 percent to RON 30 billion (EUR 6.8 billion) and its solvency rate stood at 12.4 percent.

BT shares were down 0.49 percent to RON 1.41 by lunch Thursday trading on the Bucharest Stock Exchange.

Ovidiu Posirca

BR Magazine | Latest Issue

Download PDF or read online: October 2022 Issue | Business Review Magazine

The October 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Globalworth Successfully Addressing Market Challenges From a Position
Newsroom | 26/10/2022 | 17:53

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of
    I agree with the storage and handling of my data by
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue