November 12 (SeeNews) - Romania's Banca Transilvania [BSE:TLV] said on Friday its net profit rose by 63.5% year-on-year in the first nine months of 2021, reaching 1.474 billion lei ($341.4 million/297.8 million euro).
The bank's operating income rose by an annual 12% to 3.232 billion lei in the first nine months of 2021, Banca Transilvania said in a statement filed with the Bucharest Stock Exchange.
At the end of September, Banca Transilvania's assets totalled 113.4 billion lei, up from 103 billion lei at the end of 2020.
"We continue to grow lending and overall banking services significantly above the market average, contributing to the recovery of the economy and at the same time, gaining market share," Banca Transilvania CEO Omer Tetik said.
Net loans increased to 45 billion lei at end-September 2021, compared to 40.9 billion lei a year earlier. The lending pace continued to be dynamic, with almost 1,000 new retail loans granted per day, the bank having over 1.1 million clients with loans, both individuals and companies.
Deposits from customers reached 99.4 billion lei in the first nine months of 2021, compared to 90.9 billion lei at the end of September 2020.
Non-performing loans accounted for 3.43% 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 147% and in line with the bank’s risk appetite.
During the first nine months of 2021, the balance of provisions increased to 3.466 billion lei, compared to 3.19 billion lei at the end of last year.
Banca Transilvania Group, which also comprises Moldovan lender Victoriabank, BT Leasing Transilvania IFN, BT Direct IFN, BT Microfinanţare IFN, BT Leasing MD and BT Asset Management, posted a net profit of 1.669 billion lei in the first nine months of 2021, up 57.9% year-on-year. Group assets totalled 115 billion lei at the end of September, up from 107 billion lei compared to end-2020. The group employed 10,066 as at end-September.
Blue-chip Banca Transilvania is the largest Romanian privately-owned bank. Its net profit net profit fell by 26% year-on-year to 1.197 billion lei in 2020.
Banca Transilvania's shares traded 1.55% higher at 2.62 lei on the Bucharest Stock Exchange as at 1137 CET on Friday.
(1 euro=4.9489 lei)
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