Romanian lender Banca Transilvania sees 18% increase in profit

Banca Transilvania, the second largest lender in Romania based on assets, recorded a net profit of RON 780 million (EUR 167.7 million) in the first nine months of this year, up 18% year-on-year. The bank’s assets amounted to RON 54.9 billion (EUR 11.8 billion) at the end of September. Its loan portfolio reached RON 29.9 billion (EUR 6.4 billion), up 10% compared to the end of 2016. Total customer deposits increased by 7% compared to the end of 2016 to RON 44.9 billion (9.6 billion). Banca Transilvania granted over 138,000 new loans, worth over RON 9 billion (EUR 1.9 billion), to individuals, small and medium-sized companies or corporate customers. Banca Transilvania financial group, which includes the bank's operations as well as the activities of the other subsidiaries, posted a profit of RON 829 million (EUR 178.2 million) in the first nine months of this year, up 18% year-on-year. The lender is in the process of acquiring local bank Bancpost. The deal should be completed by the end of this month. editor@romania-insider.com