Asked whether, beside the organic growth target, the bank has other plans on the banking market, Tetik brought up the idea of an acquisition, also mentioned in the first part of the year by the bank’s managing board president, Horia Ciorcila.
“Shopping? Yes, we’re mulling purchase opportunities on the market. We are in talks. There are different options. We will buy a bank or a portfolio only if it brings added value for the bank. If it matches our strategy, any bank or portfolio would be of interest. Everything depends on price,” stated Tetik.
Banca Transilvania has just got a EUR40 million subordinated loan from IFC, the World Bank’s investment arm, with the funds being meant to strengthen its capital base. The IFC loan will allow the bank to boost lending by around EUR250 million and in the case a bank is acquired no capital increase will be necessary, according to the head of Banca Transilvania.
2013, the fifth year since the onset of the crisis, marked the deicing of banking system deals.
Banca Transilvania in the first quarter of this year reached net profit of 103.4 million lei (almost EUR23 million), up 22.6% from the gain posted in the same period of last year. This is the best year start in the bank’s history.
(English version by Catalina Apostoiu)