The bank granted 44,000 new loans in the first quarter, it said in its earnings report released Wednesday. It said its loan to deposit ratio stood at 65% at the end of the first quarter.
“It was an upright start for the year, with results as expected, focusing on the experience we provide to customers in all our business segments. We have made significant investments in network’s redesign and service digitization, said Banca Transilvania CEO Omer Tetik.
The bank’s operating revenue stood at RON735 million in the first quarter, up 26.43% on the year. The group’s operating revenue stood at RON800 million, 24% higher than in the first quarter last year.
The group had assets of RON60.1 billion end-March, of which RON59.6 billion represent the bank’s assets. Net lending accounts for 50.98% of the group’s assets.
Income from operating fees and commissions grew 18.2% in the first quarter, to RON152 million, and the bank’s operating efficiency stayed at a comfortable level, below 47%.
BT Pay, the bank’s app for retailer payment and money transfer via phone, launched at the end of January this year, has been downloaded by more than 90,000 clients, the lender said.
Banca Transilvania had a portfolio of 3.08 million cards in the first quarter, generating transactions almost 34% higher compared with the first quarter last year. The bank’s market share in terms of cards transaction volumes is over 20%, it said.
It also had over 388,000 credit cards enrolled in the STAR loyalty program.
Non-performing exposures (NPE) stood at 6.35% at the end of March 2018 and the coverage of NPE with total provisions stood at 71%.
Banca Transilvania has nearly 2.5 million active customers.
Banca Transilvania’s strategy is supported by strong international shareholders such as EBRD, IFC – World Bank Division and investment funds. Banca Transilvania has now more than 28,000 Romanian individual shareholders and almost 55% Romanian capital.