Romanian lender Banca Transilvania plans to invest over EUR 41 mln this year

Banca Transilvania, the third largest local lender, plans to invest over EUR 41 million this year. The bank also expects to reach a profit of EUR 190 million, and increase the gross lending by 6%, according to a bank report. In 2015, the bank posted a net profit of EUR 538 million, up 456% over the previous year. Much of the profit, some EUR 358.6 million, came from Volksbank Romania’s takeover. Besides the earnings from this transaction, Banca Transilvania had an operating profit of EUR 171.8 million in 2015. The lender wants to increase the profit by 10% this year to EUR 190 million. After acquiring Volksbank, Banca Transilvania managed to increase the balance of loans by over 40%. The stock of net loans exceeded EUR 5.6 billion. editor@romania-insider.com