BT profit up by 19.5 pct last year

Banca Transilvania (BT) registered last year a net profit of RON 448.1 million (EUR 101 million), which represents a 19.5 percent increase, due to a better cost control, while provisions went up by 57 percent to RON 638 million (EUR 143.6 million) and assets went up by 11.2 percent to RON 35.64 billion (EUR 8 billion), announced the bank.

“The bank’s positive outcome registered in 2014 was supported in a determinant way by the initiatives to streamline the activities, respectively by the ones of cost control, which led to an improvement in the cost / income proportion by over 14 percent compared to 2013, reaching 41.92 percent in 2014,” reads a BT press release quoted by Mediafax.

The operational incomes increased by 20 percent at the end of 2014, from RON 1.99 billion (EUR 450 million), compared to RON 1.66 billion (EUR 373 million) in 2013. At the same time, the operational expenses increased by 3.4 percent to RON 836.5 million (EUR 188 million).

BT granted last year 146,000 new loans to individuals and companies, totaling RON 9.09 billion (EUR 2 billion). Out of this number, the retail segment drew almost RON 2.1 billion (EUR 450 million), and companies benefited from about 22.000 new financing.

Andreea Marinas

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