Profit of Romania’s largest financial group BT rises by 26% in Jan-Sep

Romania’s largest financial group, Banca Transilvania, reported a net consolidated profit of RON 1.56 billion (EUR 330 mln) in the first nine months of the year, up by 26.4% compared to the same period last year.

The bank alone reported a net profit of RON 1.38 bln (EUR 290 mln), 41% higher than in the first nine months of last year, according to the quarterly results published by the group.

The group’s subsidiaries and equity investments also contributed over RON 183 mln (EUR 38.5 mln) to the overall profit of BT Group.

In the first nine months of the year, Banca Transilvania granted over 165,000 loans to companies and individuals.

The BT Group's assets reached RON 86.4 billion (EUR 18.2 bln) at the end of the third quarter of 2019, up 11% compared to the end of 2018. The net loans to customers went up 6.5% vs. December 2018, to RON 40.3 billion (EUR 8.48 bln), and customers’ deposits reached RON 71.4 billion (EUR 15 bln), up 9.6%.

“Banca Transilvania’s endeavor to support the economy, the entrepreneurs and the population, in good and bad times, pays off. This is proven by the bank’s magnetism, which leads to self-sustained business growth. We continue to channel our efforts on financing the Romanian economy, on enhancing our customers’ experience, on operational efficiency, while investing in technology. We’ve had a good quarter, with lending, transactions and operational growth,” said Ömer Tetik, CEO of Banca Transilvania.

(Photo source: Bancatransilvania.ro)