Romanian lender Banca Transilvania registered a gross profit of RON 226.3 million (EUR 50.9 million) in the first six months of the year, up 8% year-on-year. The bank’s operating income amounted to RON 965 million (some EUR 217 million) in this period, 11% higher compared to the RON 870 million reported for the first half of 2014.

“The financial results of this first semester are in line with the bank’s strategy, giving way for an optimistic perspective over the whole year. We recorded a consistent growth above market average in terms of lending activities and number of clients. The increase in business volumes and in cross sell is reflected by the accelerated dynamics of operating income,” said Omer Tetik, Banca Transilvania CEO.

The bank’s total assets increased by 8.4% in the first half of 2015, when compared to end-2014, to RON 38.6 billion (EUR 8.69 billion).

At the end of June 2015, the loan portfolio balance reached RON 22.2 billion (RON 5 billion), according to a bank statement. Customer deposits amounted to RON 31.9 billion (EUR 7.1 billion).

Non-performing loans, with overdue payments above 90 days, represented 9.84% of Banca Transilvania’s credit portfolio, falling belowthe 10% threshold for the first time within the last years.

The bank’s number of active clients (both individuals and companies) was also higher year-on-year, going up from 1.76 million in the first half of 2014, to 1.92 million clients in the same period this year.

Between January and June 2015, Banca Transilvania granted, across all business lines, more than 67,000 new loans with a total value of RON 3.5 billion (EUR 788 million).

It ended the first half of 2015 with a portfolio of 2.39 million cards, generating transactions 18.02% higher than in the similar period of last year. The bank’s market share in terms of card transaction volumes reached 17.9%.

Banca Transilvania becomes Romania’s second largest bank after Volksbank takeover. 

Irina Popescu, irina.popescu@romania-insider.com