Romanian net profit of Banca Transilvania jumps 48% year-on-year in first half
BUCHAREST (Romania), August 23 (SeeNews) – Banca Transilvania de Romania [BSE:TLV] said on Monday that its net profit increased 48.3% year-on-year in the first half of 2021 to 901 million lei ($ 213 million / € 183 million).
If the pressure on revenues led to a high level of provisioning during the year 2020 due to the health and economic crisis, in the first half of 2021 this pressure decreased, the level of provisions reflecting confidence and the ability to recover thanks to the positive trend in income, the lender said in an unaudited first half financial report filed with the Bucharest Stock Exchange, BVB.
“This is a revival period for Romania, and Banca Transilvania has once again contributed to this process, increasing lending and transaction processing above the market average. We are the bank of Romanians, we manage a volume of operations vital for the economy. and we have more than 7 million Romanians as direct and indirect shareholders ”, said Omer Tetik, CEO of Banca Transilvania. “We are optimistic about the development of the economy and the country, so we are putting our efforts to continue their growth and reduce the gaps with the economies of Western Europe.”
The bank’s operating profit amounted to 2.169 billion lei in the first half of 2021, compared to 1.858 billion lei in the same period in 2020. At the end of June, the assets of Banca Transilvania amounted to 111 billion of lei, against 103 billion lei at the end of June. 2020.
Net lending reached 43 billion lei at the end of June, against 42.6 billion lei at the end of June 2020. The bank had more than 3.14 million private customers, 360,000 SMEs and micro-clients and more than 11,000 client companies at the end of June.
Customer deposits reached 94.4 billion lei in the first half of 2021, compared to 93.9 billion lei at the end of June 2020.
Non-performing loans represented 3.47% of Banca Transilvania’s total loan portfolio at end-June, while their coverage with related provisions and mortgage guarantees remained at a comfortable level of 148% and in line with the appetite for debt. bank risk.
During the first half of 2021, the balance of provisions increased by 9.2% to reach 3.485 billion lei, compared to 3.19 billion lei at the end of June 2020.
Blue-chip Banca Transilvania is Romania’s largest private bank. Its net profit fell 26% year-on-year in 2020 to 1.197 billion lei.
The Banca Transilvania group, which also includes the 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 1.015 million lei in the first half of 2021, in increase of 47.2% year on year. The group’s assets stood at 115 billion lei at the end of June, compared to 107 billion lei compared to the end of 2020. The group employed 10,066 at the end of June.
Banca Transilvania shares traded up 0.67% to 3 lei on the Bucharest Stock Exchange on Monday at 9:36 am CET.
(1 euro = 4.9338 lei)