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Banca Transilvania posted a net profit of 1.621 billion lei last year, up 32.93pct compared to 2018, according to preliminary financial results published on Thursday.
Banca Transilvania Financial Group reported a consolidated net profit of 1.848 billion lei last year, up 46.59pct compared to 2018.
"The operating profit of Banca Transilvania (BT) increased to 2,131.87 million lei due to the efficiency and consolidation of the business. The BT Board of Directors decided in the meeting of 26 February to propose to the shareholders the distribution as a cash dividend of about 60pct of the 2019 profit. The annual tax on assets was 103.6 million lei. The operational efficiency, measured by the cost / income ratio, is kept at a comfortable level at Banca Transilvania and is 47.1pct", reads a bank's release issued to AGERPRES.
Last year, Banca Transilvania extended 223,000 loans to companies and individuals. The companies were financed with more than 10.5 billion lei, while over 9,600 Romanians bought homes with the help of Banca Transilvania. The balance of mortgage / real estate loans is 11.8 billion lei.
The number of active customers increased by 15pct, reaching about 3.3 million, and the number of those who receive their income through BT increased by 64pct, to 1.8 million, including due to the bank's merger with Bancpost.
The assets of Banca Transilvania Financial Group reached 91.7 billion lei at the end of last year, and loans increased to 40.35 billion lei. Customer deposits reached 77.04 billion lei, of which 51.67 billion lei are retail customer deposits and 25.37 billion lei corporate customer deposits.
The bank's equity rose to 8.5 billion lei. BT has 64.66pct Romanian capital, over 31,000 direct investors and 7 million indirect investors.
The rate of non-performing exposures, according to the EBA indicator, was 4.36pct on December 31, 2019, and the degree of coverage with total provisions of non-performing exposures according to EBA standards is 94pct. If the guarantees are considered, the coverage rate is 128pct, informs the quoted source.
The solvency of the bank without the profit of 2019 is 17.83pct. With profit included, this is 21.28pct.
"For BT, 2019 was a good year, we grew in a sustainable manner, and the results demonstrate our solid financial situation. As a market leader we have responsibilities towards Romania and we know that our role is essential for financing the economy and Romanians' ambitions. We are trying to we do more than banking, to inspire and motivate people, attentive to their concerns, whether it is about colleagues, customers or bank partners. In 2020, we continue to invest in technology and innovation to improve our customer services. We continue to increase our role in the economy, we follow the challenges of the market, but also the possible opportunities," said Horia Ciorcila, president of the Board of Directors of Banca Transilvania.
In 2019, BT financial group announced the expansion of financial services in the field of private pensions by acquiring Certinvest Pensii, the only local player among the pension funds in Romania.
