The Banca Transilvania bank has reported a net profit of RON 265.43 M (EUR 59.8 M) in the first 9 months of the year, up by 30 per cent compared to the same period last year, its assets growing by 12 per cent to RON 29 bln compared to December last year. In the first 9 months of 2011 the bank reported a net profit of RON 204.51 M. “The financial results confirm our expectations and the positive trend we are on, despite adverse market events. We are optimistic about our capacity to attain the targets for this year even though we remain cautious and we are paying attention to the extremely difficult local and international economic climate,” Horia Ciorila, president of Banca Transilvania’s Administrative Board, stated in a communiqué remitted to the Stock Exchange on Monday.The growth in assets was mainly determined by the investments in assets available for sale, which grew by 23 per cent to RON 7.17 bln, and by the 12 per cent hike in the credit balance. The operational profit registered in January-September 2012 stood at RON 540.56 M, up by 14 per cent, while the gross profit stood at RON 274.82 M, up by 8 per cent compared to September 2011. The bank’s operational revenues grew by 13 per cent to RON 1.15 bln. At the end of September, Banca Transilvania’s operational expenditures totaled RON 616.97 M, 12.5 per cent higher than the level registered in the first 9 months of 2011.“Out of precaution, the financial situations registered in Q1 of 2012 were audited. As a result of the external audit, the cost of the credit risk grew by RON 40.6 M, of which RON 17.6 M were already included in financial situations on September 30, 2012, the difference up to RON 23 set to impact the profit balance in Q4 of 2012,” the communiqué reads. The cost/revenue ratio stood at 53 per cent at the end of September, while the credits/deposits ratio stood at 0.76 per cent. According to the situation presented by the bank, the credits portfolio was preponderantly RON-denominated, while the total balance stood at RON 17.15 bln. 64.09 per cent of the credits are offered to companies, while 35.91 per cent are offered to physical persons. Bad credits with backlogs in excess of 90 days represent 10.93 per cent of the bank’s total portfolio. The value of deposits grew by 13 per cent compared to the end of the year, to RON 22.67 bln. The bank’s number of customers grew from 1.458 million at the end of last year to 1.558 million.