The bank's operating income rose 20.7% on the year to 4.64 billion lei in the first nine months of 202, the lender said said in an unaudited financial report filed with the Bucharest Stock Exchange, BVB, on Friday.
"It has been a good nine months for Banca Transilvania, in which we have further increased our transaction volumes and thus strengthened our market leadership. The size of our business and the economies of scale allow us to be a universal bank, with an inclusive approach, offering a full range of products and services - online and cash - at low prices for customers. We work for more than 4 million clients, from individuals to SMEs and corporations. [...] We remain cautious, given the volatility and uncertainty in the market, but optimistic about the Romania’s ability to perform above the average in the region," said Banca Transilvania's CEO, Omer Tetik.
At the end of September, the bank's assets amounted to 150.3 billion lei, up from 133.9 billion lei at the end of 2022.
Net loans increased to 68.4 billion lei at end-September, up 8.3% on the year. Deposits from customers reached 126.6 billion lei in the first nine months of 2023, rising by 14.8% compared to end-September 2022.
Non-performing loans made up 2.22% of Banca Transilvania’s total loan portfolio at end-September, while their coverage with related provisions and mortgage collaterals stood at 197.75%.
Banca Transilvania Group, which also comprises Victoriabank, BT Leasing Transilvania IFN, Idea Leasing, Tiriac Leasing IFN, BT Direct IFN, BT Microfinantare IFN, BT Leasing MD, BT Asset Management, BT Capital Partners and BT Pensii, posted a net profit of 2.291 billion lei in the first nine months of 2023, up 36.6% year-on-year. Group assets totalled 157.6 billion lei at the end of September 2022, up from 140.5 billion lei at the end of last year.
The bank operated 513 branches at end-September.
Banca Transilvania's shares traded 0.88% higher at 22.8 lei on the Bucharest bourse as at 1139 CET on Monday.
