The bank’s gross profit reached RON209.42 million, up from RON193.22 in January-June 2012.
The operating income was down 2% on the year, at around RON733.5 million for the first year-half, according to Banca Transilvania’s financial report.
Operating expenditure increased 4% to RON383.1 million mainly due to costs related to a new IT system, the bank said.
On the other hand, the net risk costs fell to RON141 million, from RON182.7 million in June 2012. The non-performing loan ratio stands at 11.9%.
The bank reported total assets of RON30.1 billion on June 30, 2% higher than at the end of December 2012.
“The first semester was consistent with our estimates at the beginning of the year and we are confident the results will come in line with the budget approved for 2013,” said Horia Ciorcila, the bank’s Chairman of the Board.
For 2013, the bank estimates a gross profit of RON388 million, up 15.4% on the year.
“We managed to obtain a substantial profit, in a difficult economic context. We will continue to stay active on the market and optimize our business model,” Ciorcila said. (EUR1=RON4.4048)