Romanian lender Banca Transilvania has appointed three more deputy general managers in the bank's executive. Gabriela Nistor became executive director on retail banking, while Leontin Toderici is executive director – chief operations officer and Andrei Dudoiu is executive director for Bucharest. The appointments are pending approval from the Romanian Central Bank (BNR). Luminiţa Runcan also received the green light from BNR to become deputy general manager of Banca Transilvania.

Banca Transilvania posted a net profit 40 percent higher in 2012 compared to 2011, of around EUR 72 million. The bank saw its operational revenues up by 10 percent, to some EUR 345 million, with the increase mainly fueled by a 12 percent hike in financial operation revenues, a 15 percent increase in net revenues from commissions, and a 5 percent surge in net revenues from interest.

The bank's assets were of some EUR 6.6 billion at end – 2012, 15 percent higher than the year before, when expressed in local currency. The loans portfolio stayed the same, and mostly in the local currency, with a level of EUR 3.8 billion. Over half – 64 percent – was made up of loans for companies, and the rest to individuals. Non-performing loans, with arrears over 90 days, made up 11.3 percent of the portfolio.

Banca Transilvania, with a stock market capitalization of some EUR 500 million on the Bucharest Stock Exchange, is controlled by EBRD – 14.6 percent, Bank of Cyprus, 9.6 percent - the largest stakes in the bank. The SIF investment funds hold packages of less than 5 percent, the same as the bank's president and founder Horia Ciorcila.

editor@romania-insider.com