Banca Transilvania Group reported a net profit of 656.3 million lei in the first quarter of the year, from 303.9 million lei in the same period last year, while operating revenues rose to 1.159 billion lei, from 934, 5 million lei in the 1st quarter of 2020, news.ro reports.
Banca Transilvania, the largest bank in Romania, which is also part of the group, recorded a net profit of 581.26 million lei, from 261 million lei in the first three months of 2020. The bank’s operating income increased in the first quarter of this year to 1.02 billion lei (from 816.8 million lei in the first quarter of 2020).
“The consolidated net profit of Banca Transilvania Financial Group is 656.33 million lei, of which that of the bank is 581.26 million lei. Subsidiaries and equity participations contributed approximately 75 million lei to the profitability of the BT Group. The operational efficiency of the bank reached the level of 45.61% calculated with an annualized impact of the contribution to the Bank Deposit Guarantee Fund and to the Resolution Fund ”, the bank’s report shows.
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BT representatives say that the results of Banca Transilvania for the first three months of the year are encouraging and are a sign that the Romanian economy is relaunching after the challenges of 2020.
The bank is planning to invest 400.88 million lei in2021
“BT’s investment budget for 2021 is 400.88 million lei and will be allocated between IT projects, cards, and digital networks projects. At Banca Transilvania, the headline of this year is Relaunch. BT wants to play a major role in supporting companies, people and the economy “, BT also shows.
The assets of Banca Transilvania Financial Group reached a value of 110.9 billion lei at the end of the first quarter, and loans increased to 43.09 billion lei. Customer deposits reached 93.19 billion lei: of these, 64.22 billion lei are individual savings, while 28.96 billion lei represent deposits of companies.
“We see encouraging signs that Romania’s economy has recovered well in the first three months of the year, but there are still challenges ahead. We now depend on the pace of vaccination, but also on travel and consumption restrictions in other European countries and the world, and the pace of recovery will be directly correlated with that of the major economies in the European Union. We are optimistic, but we remain vigilant and close to customers with loans and those who need financing to support their business, consumption, and economy. Banca Transilvania operated with the engines running in the first three months of the year, which shows the record number of loans granted “, says Ömer Tetik, General Manager, Banca Transilvania.
The rate of non-performing exposures, according to the EBA indicator, is 3.73% as of March 31, 2021. The degree of coverage with total provisions of non-performing exposures according to EBA standards is 131%. The bank’s solvency is 23.82% and includes the profit for the quarter ended.
Fitch Ratings maintained Banca Transilvania’s rating for long-term financing (IDR) at “BB +”, with a negative outlook, as well as the viability rating (VR) at “bb +”. The balance of real estate/mortgage loans is 13.8 billion lei, and of SME loans, approximately 17.8 billion lei. The bank has reached 4.4 million cards in its portfolio, of which over 530,000 are credit cards.
Almost 48,000 loans were granted in the first 3 months of the year, amounting to 3.947 billion lei. Of these, 45,700 were for individuals — for housing and personal needs.
BT has 3.1 million individual customers, 352,000 SME & Micro customers, and over 10,600 corporate customers. 1.9 million customers are digitalized, of which over 1.2 million use BT Pay, + 79% compared to the first quarter of 2020. The number of mobile phone payments doubled in the first quarter of 2021 compared to the same period last year, reaching 12,3 million. There was also a 64% is the increase in the number of card transactions on the Internet in the first quarter of 2021 compared to the first quarter of 2020.
The bank has 70.64% Romanian shareholding and over 33,000 Romanian individual shareholders.
Banca Transilvania has a capitalization of 14.28 billion lei.