The bank’s operating revenue rose 19% on the year to RON424.7 million, on the back of increased lending activity, the bank said in a statement. The loan portfolio went up by 2.5% during the first three months of the year, while interest income and fee income increased by 19.6% and 14.2%, respectively.
In the first quarter, Banca Transilvania booked RON102.1 million in risk provisions, compared with RON78.5 million in the similar period a year ago. As a result, total provisions amounted to RON2.6 billion at the end of March, from RON2.5 billion at the end of 2013.
The bank’s solvency ratio stood at 13.5% at the end of March, above the central bank’s minimum requirement of 10%.
Banca Transilvania totaled assets worth of RON32.92 billion at March 31, up 2.7% from RON32.06 billion at December 31, 2013.
The European Bank for Reconstruction and Development is the largest stockholder of Banca Transilvania, with a 14.6% stake. Romanian investment funds SIFs control large stakes in the bank, while the lender’s chairman, Horia Ciorcila, has 5% of the shares. (EUR1=RON4.4403)