Banca Transilvania reports over 600 million RON profit for first semester of 2020

Banca Transilvania Group’s net consolidated profit is 690 million RON, out of which the Bank’s profit amounts to 607 million RON, according to its financial results for the first semester. The subsidiaries and the capital investments contributed with over 82 million RON to the BT Group’s profit.

At the end of the of the first semester of 2020, Banca Transilvania Financial Group’s assets reached RON 98.4 billion, loans went up to RON 40.7 billion and deposits reached RON 80.0 billion, of which RON 57.2 billion are retail savings and RON 22.8 billion company savings. The Bank’s cost/income ratio remains at a level of 47.60%.

Non-performing exposures, according to EBA, amount to 4.35% as at June 30, 2020. The total provision coverage ratio, as per the applicable EBA standards, is 107%. If the collateral is also taken into account, the coverage ratio amounts to 126%. The bank’s CAR is 19.67% (profit for the year excluded) and 20.91% (profit for the year included).

During the period January-June, 2020 Banca Transilvania granted over 68,000 loans to companies and retail clients. Company loans in this period amount to more than RON 3.6 billion. The Bank counts approx. 2.9 million Retail clients, 325,000 SME & Micro clients and more than 10,000 active corporate clients

“Solidarity. Solidarity and mobilization were key words for the second quarter of 2020 for Banca Transilvania. The whole BT team focused on prevention of virus-contamination, on business continuity via its wide network & digital channels, trying to offer the best alternatives to help our clients and our community. Starting with the efforts to ensure the functionality of its systems at high speed during the state of emergency and with the swiftly announced most comprehensive financial support package for clients and companies, to the efforts of more than 2,000 colleges in the SME Invest program and donations of more than EUR 2 million for medical and protection equipment, Banca Transilvania and #ThePeopleOfBT proved that we are here to serve the communities where BT is present. We live unprecedented and challenging moments, both for people and businesses; however, BT is well prepared to support its partners and come out of this crisis stronger together. We know that by being close to our clients through difficult times, we not only save the present, but also the future”, said Ömer Tetik, CEO of Banca Transilvania.