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Banca Transilvania net profit up 17 pct in 2013

February 13, 2014

Agerpres, Bucharest, Romania

Feb. 13--BUCHAREST -- Banca Transilvania (BT) bank ended 2013 in 443.1 million lei worth of gross profit, up by 30 percent from the one it reported in 2012, while the net profit amounted to 374.9 million lei, marking a 17 percent rise, the bank has announced on Thursday.

The BT assets totalled 32.066 billion lei at end-Dec. 2013, the credit balance had gone up by 9 percent and the total resources attracted by the bank from the clients had grown by 11 percent as compared to end-2012. Both such increases were higher than the levels set in the budget, Banca Transilvania stressed.

The BT credit balance stood at 19.160 billion lei at end-2013, while the resources attracted from the clients totalled 25.804 billion lei, with the credit-to-deposit ratio being of 74.25 percent.

As regards new lending, the bank extended more than 25,000 such loans in the last quarter of 2013, both to individuals and companies; such lending amounted to 3.179 billion lei.

The bank also saw the number of its active clients -- individuals and companies -- rise from 1.67 million at end-2012 to 1.76 million at end-2013. Banca Transilvania focused on the retail clients and small and medium-sized businesses as well as on specialised brackets, agriculture and the medical sector. In correlation to the active client base, the number of the operations conducted via the BT accounts climbed more than 8 percent from 2012.

The BT continued contributing to funding the national economy in 2013, thus boosting its operating revenues, which are by 12 percent higher, i.e. 1.659 billion lei in 2013, up from 1.484 billion lei in 2012.

The average interest rate margin was of 3.92 percent in 2013.

'The major goal of the bank in 2014 is to increase the revenues and make the processes efficient. Our focus is on responsible growth, sales, maintaining the client base, increasing the operation volume and increasing the synergy both with the companies and individuals and the synergy between the bank and its subsidiaries', Banca Transilvania Managing Director Omer Tetik said.

Banca Transilvania in 2013 issued 30 million euros worth of bonds convertible into shares and closed two new subordinated loan contracts amounting to 40 million euros.


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Source: Agerpres (Romania)

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