Banca Transilvania, the largest financial group in Romania by assets, reported a net profit of RON 690 mln (EUR 142 mln) in the first half of the year (H1), down 26% compared to the same period last year.

At an individual level, the bank's profit decreased by 28%, to RON 607 mln (EUR 125 mln), according to the half-yearly data published by the financial institution.

"We are going through unprecedented and challenging times, but BT is well prepared to support its partners and emerge stronger from this crisis together. We know that if we are with our customers in these difficult times, we save not only the present but also the future," said Banca Transilvania CEO Ömer Tetik.

The group's operating income decreased slightly, to RON 2.09 bln (from RON 2.18 bln in H1 last year), out of which the bank's operating income was RON 1.85 bln (from RON 1.87 bln).

The group's assets reached RON 98.4 bln (EUR 20.3 bln) at the end of the first half of this year. Out of this, the stock of loans increased to RON 40.7 bln, while customers' deposits reached RON 80 bln, of which RON 57.2 bln were the savings of individual clients.

The bank's operational efficiency remained at a comfortable level of 47.6%.

editor@romania-insider.com

(Photo source: Bancatransilvania.ro)