Banca Transilvania, the second-biggest bank in Romania, registered a net profit of RON 366 million (EUR 78.7 million) in the first quarter of the year, up almost 49% year-on-year. Meanwhile, Banca Transilvania Financial Group’s net profit amounted to RON 389 million (EUR 83.6 million) in this period, up around 46% compared to the first quarter of 2017.

Banca Transilvania’s operational revenues also increased by more than 26% year-on-year in the first quarter of 2018, to RON 735.7 million (EUR 158.2 million).

During the first three months of 2018, the lender granted 44,000 new loans to Retail, SME and Corporate clients.

“It was an upright start for the year, with results as expected, focusing on the experience we provide to customers in all our business segments. We have made significant investments in network’s redesign and service digitization,” said Ömer Tetik, CEO Banca Transilvania.

The group’s assets at the end of the first quarter amounted to RON 60.1 billion (EUR 12.9 billion), of which the bank accounted for RON 59.6 billion (EUR 12.8 billion). Net loans represented 50.98% of the group’s assets.

Income from operating fees and commissions went up by 18.2%, while the loan/deposit ratio at the end of Q1 2018 was 65%.

In 2016, Banca Transilvania surpassed BRD for the first time and climbed to the second position in the ranking of Romanian banks, based on assets.

Earlier this month, Banca Transilvania completed the acquisition of local competitor Bancpost. The group paid EUR 315 million for this deal.

Romanian lender Banca Transilvania sees slightly lower profit in 2017

Irina Marica, irina.marica@romania-insider.com