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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

 

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Operations of largest RO lender Banca Transilvania show robust growth in Q1

Banca Transilvania (BT), the financial group that includes Romania's largest lender by assets, announced that it extended 63,000 new loans amounting to RON 6,357 mln in Q1 this year, 61% more compared to the same period last year.

The number of transactions for both the individuals and legal entity customers across all BT channels was 35% higher compared to the same period of 2021.

The net interest income increased by 22% for the bank (to RON 810 mln) and by 29% (to RON 969 mln) for the entire group.

The bank also launched Code Crafters, a company through which it increases its IT solutions development capacity.

"The bank's activity and income are above the forecasted levels and above the budget, and the net result is in line with the budget. We are pleased that the Romanians have continued with their plans and that BT has sustained the growth both in lending and in operations," commented Ömer Tetik, CEO, Banca Transilvania.

The financial group's bottom line was significantly impacted, however, by the net impairments that turned from a positive value in Q1 last year (release of provisions) to negative this year.

Thus, the financial group posted a net profit of RON 400 mln (EUR 80 mln), 39% smaller compared to the same period last year, out of which RON 307 mln (EUR 61 mln, down 47% YoY) was generated by the bank.

BT Financial Group's assets reached RON 128.3 bln, and its net loans increased to RON 58.6 bln.

Separately, BT announced that RON 800 mln, representing about 45% of 2021 profit, will be distributed as a dividend. The gross dividend/share is approximately 0.12 RON, equivalent to a yield of 5%.

(Photo:  Alpar Benedek | Dreamstime.com)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

 

The Capital Markets News section is powered by the Bucharest Stock Exchange 

 

BSE

 

 

Operations of largest RO lender Banca Transilvania show robust growth in Q1

Banca Transilvania (BT), the financial group that includes Romania's largest lender by assets, announced that it extended 63,000 new loans amounting to RON 6,357 mln in Q1 this year, 61% more compared to the same period last year.

The number of transactions for both the individuals and legal entity customers across all BT channels was 35% higher compared to the same period of 2021.

The net interest income increased by 22% for the bank (to RON 810 mln) and by 29% (to RON 969 mln) for the entire group.

The bank also launched Code Crafters, a company through which it increases its IT solutions development capacity.

"The bank's activity and income are above the forecasted levels and above the budget, and the net result is in line with the budget. We are pleased that the Romanians have continued with their plans and that BT has sustained the growth both in lending and in operations," commented Ömer Tetik, CEO, Banca Transilvania.

The financial group's bottom line was significantly impacted, however, by the net impairments that turned from a positive value in Q1 last year (release of provisions) to negative this year.

Thus, the financial group posted a net profit of RON 400 mln (EUR 80 mln), 39% smaller compared to the same period last year, out of which RON 307 mln (EUR 61 mln, down 47% YoY) was generated by the bank.

BT Financial Group's assets reached RON 128.3 bln, and its net loans increased to RON 58.6 bln.

Separately, BT announced that RON 800 mln, representing about 45% of 2021 profit, will be distributed as a dividend. The gross dividend/share is approximately 0.12 RON, equivalent to a yield of 5%.

(Photo:  Alpar Benedek | Dreamstime.com)

andrei@romania-insider.com

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