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April 18, 2021

Banca Transilvania posts profit of almost RON 230 M in Q1

Banca Transilvania registered a net profit of RON 228.5 M on March 31, up by 50.8 percent year-on-year, according to a communiqué. BT’s operating revenues reached RON 599.1 M, up by 10.7 percent year-on-year (RON 541.3 M in the same period last year). BT’s assets total RON 46.12 bln, of which net loans represent RON 25.5 bln, up by 1.5 percent compared to the end of 2015.

The bank informs that in the first quarter of this year it offered 35,000 new loans totalling over RON 1.377 bln, the beneficiaries being individual and corporate clients.

The number of operations carried out through BT accounts has grown by 13 percent year-on-year, and the growth rhythm of operating commissions revenues stood at 16 percent.

BT points out that it continued to focus on the SMEs sector, offering SMEs, in Q1 of 2016, almost 4,000 new loans. The loans/deposits ratio is more efficient, growing from 65 percent at the end of 2015 to 69 percent at the end of the first quarter this year. According to the bank, BT’s operating efficiency was corrected significantly, the cost/revenue ratio standing at 45.2 percent, even though the annual expenditure for the Deposit Guarantee Fund was registered this quarter.

On March 31, Banca Transilvania had a portfolio of 2.6 million cards, which generated a number of transactions almost 25 percent higher compared to the same period last year. The banks’ market share from this standpoint is 19 percent. BT has issued 286,000 credit cards through the STAR loyalty programme.

Likewise, on March 31, BT registered net expenditures of RON 59.6 M on provisions for depreciation (including the impact of taking RON 296 M out of the balance sheet). Bad loans, loans registering outstanding payments due for periods longer than 90 days, represent 9.04 percent of BT’s total loan portfolio. The loan loss provision coverage ratio continues to be at a comfortable level of 119.84 percent, in line with the bank’s appetite for risk, the communiqué points out.

On the other hand, BT’s General Assembly of Shareholders (AGA) meeting approved, on April 27, the hiking of the bank’s subscribed capital by RON 620 M, through the issuance of 620,000,000 new shares at a nominal value of RON 1 per share. The capital hike will be undertaken by incorporating the reserves formed from the net profit registered in 2015, to the benefit of the shareholders registered within the shareholders’ registry by May 31.



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