BUSINESS

Banca Transilvania posts 35 pc profit increase for 2011

Banca Transilvania (TLV) posted a profit of RON 131.87 M (EUR 31 M) for last year, accounting for a 35 pc increase over 2010’s figure, driven by an advance of the crediting process, higher incomes from interests, and lower expenses with provisions, Mediafax reports. The assets of the bank soared by 19.2 pc, to RON 25.74 bln at the end of December, up from RON 21.58 bln at the end of 2010. Net expenses with provisions topped RON 531.77 M, down 17 pc against December 2010. Of this sum, the net cost of the credit risk was RON 461 M, compared to RON 598 M in 2010.

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