Banca Transilvania records net profit of RON 657 mln on nine months

Newsroom 15/11/2016 | 13:39

Banca Transilvania’s operating income reached RON 2.1 billion in the first nine months of this year, while the net profit amounted to RON 657 million. At Group level, the operating income reached RON 2,240.4 million and the net profit RON 698 million. BT’s assets amount to RON 48.14 billion, of which net loans represent RON 26.4 billion, while customer deposits stand at RON 39 billion.

The bank’s profit grew by 110 percent compared to the same period of last year.

Omer Tetik, Banca Transilvania’s CEO, said: “We are pleased that the first nine months confirmed the positive trend from the beginning of the year, by means of new financing facilities approved and growth recorded especially on the retail and SME segments. The Bank’s results are very good, reflecting profitability and operational efficiency. We are constantly observing new market opportunities and we will soon extend our attention to the micro-enterprises sector, as well as continue to increase digital environment use for the best possible customer experience.”

After the third quarter of the year, BT has a net profit amounting to RON 657 million, whereas that of the Group amounts to RON 698 million. Banca Transilvania’s commission income grew by 15.3 percent. Almost 13,000 new loans were granted by BT to the SME sector in the first 9 months.

Between January-September 2016, at gross level and prior to the registration of write-offs, BT’s loans recorded a balanced increase of 6.3 percent among all business lines, which stands for a 8.2 percent increase of the bank’s organic balance sheet, without taking into account the portfolio acquired from Volksbank.

As at September 30, 2016, Banca Transilvania’s portfolio counted 2.74 million cards, generating transactions almost 25 percent higher relative to the similar period of the previous year. The bank’s market share in terms of card transaction volume is 20 percent. BT counts over 310,000 credit cards, enrolled in the STAR loyalty program.

Georgiana Bendre

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