Romania’s biggest bank improves profit amid widening net interest margin

The Romanian financial group Banca Transilvania (BT), which comprises the largest Romanian bank by assets, announced on Wednesday, August 14, that its net profit advanced by 9% year-on-year in the first half of the year to RON 942 million (EUR 199 million).

Group entities, other than the bank, contributed RON 94 mln (EUR 20 mln) to the net profit. The rise was driven by robust net interest income that advanced by 18.6% year-on-year to RON 1,513 million (EUR 319 mln).

The value of the bank’s assets advanced by 4.7% year-on-year at the end of June, to RON 81.6 bln (EUR 17.2 mln). The volume of new loans granted to companies during the first half of the year was RON 4.7 bln and the stock of loans reached RON 39.3 bln (EUR 8.3 bln).

“It was a dynamic period, with increasing volumes, which allowed us to obtain a good income in the context of reduced fees. The growth pace of the deposits, loans and operations shows the customers trust, both individuals and SMEs, in BT. The results of the first semester prepare the ground for the big plans we have in the forthcoming period,” said Ömer Tetik, CEO of Banca Transilvania.

(Photo source: Banca Transilvania)