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miercuri, 27 octombrie 2021 - 12:50

Romania’s Banca Transilvania net profit jumps 48% y/y in H1

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Romania’s Banca Transilvania announced on Monday that its net profit rose by 48.3% year-on-year in the first half of 2021 to RON 901 mln (€183 mln), according to See News.

The bank’s operating income rose to RON 2.169 bln in the first half of 2021 compared with RON 1.858 bln in 2020. At the end of June Banca Transilvania’s assets totalled RON 111 bln, up from RON 103 bln at the end-2020.

“It is a period of relaunch for Romania and Banca Transilvania has contributed to this process once again by increasing lending and operations processing above the market average,” said Banca Transilvania CEO Omer Tetik in a report filed with the Bucharest Stock Exchange.

Net loans increased to RON 43 bln at the end-June compared to RON 42.6 bln in the previous year. The bank had over 3.14 mln retail customers, 360,000 SME and micro customers and over 11,000 corporate customers at the end-June.

Deposits from customers reached RON 94.4 bln in the first half of 2021, compared to RON 93.9 bln at the end of June 2020.

Non-performing loans accounted for 3.47% of Banca Transilvania’s total loan portfolio at end-June, while their coverage with related provisions and mortgage collaterals remained at a comfortable level of 148% and in line with the bank’s risk appetite.

During the first half of 2021, the balance of provisions increased by 9.2% reaching RON 3.485 bln, compared to RON 3.19 bln for the previous year.

Blue-chip Banca Transilvania is the largest Romanian privately-owned bank and its net profit fell by 26% year-on-year in 2020 to RON 1.197 bln.

Banca Transilvania Group, which also comprises Moldovan lender Victoriabank, BT Leasing Transilvania IFN, BT Direct IFN, BT Microfinanţare IFN, BT Leasing MD and BT Asset Management, posted a net profit of RON 1.015 mln in the first half of 2021, up 47.2% year-on-year. Group assets totalled RON 115 bln at the end of June, up from RON 107 bln compared to 2020.