This is the best first half net profit the Cluj-based bank has reported in ten years, largely because of the rise in income driven by an increase in lending by 9% on the year-ago period and an upward interest trend.
Operating income stood at RON1.42 billion in the first half, up 13.5%, while operating expenses dropped 21.7% to RON525.8 million.
“Banca Transilvania’s organic growth and profitability are impressive and we know we have a greater responsibility towards customers and Romania’s economy from now on. We are ready to keep supporting companies and consumers to finance investments and aspirations. Our position on the market, the extremely sound financial situation and the resources we have allow us to grow as a business and keep contributing to Romania’s economic development,” said Horia Ciorcila, chairman of the board of directors of Banca Transilvania. (EUR1=RON4.6567)
(English version by Loredana Fratila-Cristescu)