The pretax profit was 43.4% higher on the year, despite an increase in provisioning costs, as the bank reported rising operating income.
Banca Transilvania said its pretax profit was RON177.2 million in January to March, compared with RON123.5 million in the same period of 2014.
Net provisioning costs were up 39% on the year to RON142.2 million, according to the bank’s financial report. As a result, the lender had total provisions of RON2.38 billion at the end of March.
Banca Transilvania said its operating income rose 29.1% to RON548.2 million, while operating expenditure was up 14.9% on the year to RON228.8 million.
At the end of March, the bank’s assets stood at RON36.1 billion, up 1.2% compared with the end of 2014. Loans granted to customers were at RON20.2 billion, while attracted deposits were of RON30.2 billion.