The bank's operating income rose 19% on the year to 3.85 billion lei in the first nine months of 2022, on the back of higher operating volumes, the lender said said in an unaudited financial report filed with the Bucharest Stock Exchange, BVB, on Friday.
Operating expenses rose 44.8% on the year to 2.197 billion lei in the first nine months, determined by influenced by net expenses with depreciation adjustments, expected losses for assets, provisions for other lending risks and commitments and an increase in personnel expenses, the bank added.
"We continued our robust growth in the number of clients and transactions, with a dynamic well above the market average. We have been growing steadily and continued financing companies and individuals, despite the fact that the financial market is more fraught with uncertainty than ever and the funding costs and capital requirements are additional factors driving the uncertainty in the economy," Banca Transilvania CEO Omer Tetik said in a statement accompanying the financial report.
At the end of September, the bank's assets totalled 134.7 billion lei, up 18.8% on the year.
Net loans increased to 63.2 billion lei at end-September, up 40.5% on the year. Deposits from customers reached 110.3 billion lei in the first nine months of 2022, rising by 14.1% compared to end-September 2021 .
Non-performing loans made up 2.55% of Banca Transilvania’s total loan portfolio at end-September, while their coverage with related provisions and mortgage collaterals remained at a comfortable level of 187% and in line with the bank’s risk appetite.
The number of the bank's active customers reached 3.8 million at end-September, an increase of 4.7% since the beginning of the year.
Blue-chip Banca Transilvania is the largest Romanian privately-owned bank. Its net profit rose by 49% year-on-year in 2021, reaching 1.782 billion lei.
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 1.678 billion lei in the first nine months of 2022, up 0.6% year-on-year. Group assets totalled 141.3 billion lei at the end of September 2022, up by an annual 19.8%.
At the end of September, the group employed 11,113, of which 9,024 work for the bank.
Banca Transilvania's shares traded 0.72% higher at 19.66 lei on the Bucharest bourse as at 0937 CET on Monday.
