Romanian lender Banca Transilvania sees slightly lower profit in 2017

Banca Transilvania, the second-biggest bank in Romania, recorded a net profit of RON 1.18 billion (EUR 258 million) in 2017, some 3.4% lower than in the previous year, according to the lender’s preliminary financial results. Its operational revenues also dropped by 4.6% year-on-year, to RON 2.67 billion (EUR 585 million). Banca Transilvania’s total assets went up by some 15% in 2017 over 2016, to RON 59.3 billion (EUR 13 billion), while the total loan balance increased by 10%, to RON 29.9 billion (EUR 6.5 billion). “We are glad that during 2017 we have maintained the bank's revenue and profitability on a growth path, which shows the trust of BT’s clients in us. Cost control and efficiency enhancements remain principal targets for Banca Transilvania in the forthcoming period,” said Ömer Tetik, Banca Transilvania’s CEO. Banca Transilvania granted almost 190,000 new loans last year in the total amount of RON 12.7 billion (EUR 2.7 billion). The deposits from customers increased by 17% year-on-year, to RON 49.1 billion (EUR 10.7 billion). Meanwhile, at group level, Banca Transilvania Financial Group’s net profit amounted to RON 1.24 billion (EUR 271 million) in 2017, the financial results have also shown, down 2.74% year-on-year. The total assets amounted to RON 59.8 billion (EUR 13.1 million). In 2016, Banca Transilvania surpassed BRD for the first time and climbed to the second position in the ranking of Romanian banks, based on assets. Banca Transilvania, the only Romanian lender among top 500 bank brands Irina Marica, irina.marica@romania-insider.com