Romania’s largest bank expects marginal decline in this year’s profit

Banca Transilvania, the largest credit institution in Romania by assets, expects its net profit to deteriorate marginally by 2% year-to-year to RON 1.2 billion (some EUR 252 million, assuming RON 4.75 to euro average exchange rate this year) in 2019, according to data from the budget of revenues and expenses subject to the vote of its shareholders.

Banca Transilvania expects the gross volume of loans extended to clients to increase by 7% in 2019, while the stock of deposits will increase by 8%. The bank also expects an 8% increase in the volume of assets to about RON 80 billion (EUR 16.84 billion) and plans to allocate RON 286 million (EUR 60 million) for investments, most of which will be directed to IT and cards (39% of total investment budget).

The financial projections and proposed investments will be discussed in the shareholders' meeting on April 24, 2019.

(Photo source: Bancatransilvania.ro)