Banca Transilvania posts net profit of RON 979 mln in the first three quarters

Newsroom 13/11/2018 | 12:11

Banca Transilvania Financial Group’s consolidated net profit is RON 1.24 billion, of which the bank has RON 979.06 million in the first three quarter of the year. The result also includes part of the Bancpost integration costs into BT.

Subsidiaries and equity participations contributed more than RON 260 million to the profitability of the BT Group. Compared to the same period last year, the growth was 49 percent at the group level and 25 percent at the bank level.

Banca Transilvania is nearing completion of Bancpost’s integration.

The bank has exceeded the threshold of 550,000 credited customers, of which more than 30,000 are companies. The merger with Bancpost, which will be on December 31st, will add more than 175,000 customers credited to BT’s portfolio. Only in the third quarter of the year, Banca Transilvania granted approximately 55,000 loans to companies and individuals.

The credit institution has reached 3.2 million cards in its portfolio, which means 19 percent of the card market share issued in Romania. The number of POS managed by Banca Transilvania has reached 47,000, representing 24 percent of the terminals installed in Romania.

The Bank manages a portfolio of approximately 410,000 credit cards, which accounts for about 30 percent of transactions made with credit cards to traders in Romania.

”We are pleased to have been able to combine organic growth and profitability with a rapid process of integrating Bancpost’s business and customers. Our priority has been and remains our customers’ experience in using banking services and financing the economy, so we have focused on responsible growth business and technology investments and digitization.We opted for a rapid integration of Bancpost because it is to the benefit of our customers as well as because it favors growth. This is going well and we are confident about the year-end merger,” says Omer Tetik, general manager, Banca Transilvania.