Banca Transilvania posts 901 million RON net profit in first nine months

Banca Transilvania posted a profit of 901.49 million RON in the first nine months of 2020. Subsidiaries and equity participations contributed with over 155 million RON to the BT Group’s profit.

At the end of the third quarter of 2020, Banca Transilvania Financial Group’s assets reached RON 100.4 billion, loans went up to RON 41.9 billion, including financial lease loans, and deposits from customers reached RON 83.9 billion, of which RON 58.7 billion are retail savings and RON 25.2 billion company savings. The Bank’s efficiency ratio stays at a comfortable level of 45.25%.

Non-performing exposures, according to EBA, amount to 3.59% as at September 30, 2020. The total provisions coverage ratio, as per the applicable EBA standards, is 124%. If the collateral is also taken into account, the coverage ratio amounts to 131%. The bank’s CAR is 20.01% (profit for the year excluded) and 21.80% (profit for the year included).

“Although trends are less than favorable due to the pandemic, we remain optimistic and confident in the forthcoming recovery of the economy. We aim at increasing the lending granted by BT, in the most responsible and efficient way, supporting the economy and the bank’s growth. The current context, which has undoubtedly affected the whole world and possibly some developed economies to a larger extent, also brings new opportunities for Romania, an important advantage for us because nobody knows the market better as a Romanian bank,”  said Ömer Tetik, CEO of Banca Transilvania.

The Bank counts approx. 2.9 million Retail clients, 329,000 SME & Micro clients and more than 10,400 active corporate clients.