OTP Bank integration had a 9.6% contribution.
Operating income stood at RON10 billion, up 30%.
“2024 was another year in which the bank and its subsidiaries grew significantly above the market average in terms of lending, operations and customers’ transactions. We have also increased the scale of the BT Group through several acquisitions and integrations both in banking and in other complementary business areas such as leasing, pensions and asset management. We remain optimistic about the future, but also prudent in front of a volatile environment, with multiple domestic and international challenges. We continue to invest through the bank and through the BT Group in technology, innovation and products in order to maximize our efficiency and finance the Romanian economy on a sustained basis”, states Horia Ciorcilă, Chairman of the Board of Directors, Banca Transilvania.
BT Financial Group’s consolidated net profit reached RON 4.7 billion, of which the bank’s net profit amounts to RON 3.5 billion .
The Group’s subsidiaries and equity holdings contributed with approximately RON 384.6 million to BT Group’s profitability. The bargaining gain added RON 815.7 million to the BT Group’s net profit. For a five months period, until December 31, 2024, the companies acquired from OTP Group generated a RON 58.1 million profit to Banca Transilvania Financial Group’s results.
The bank’s operating profit increased to RON 4.5 billion, +28.3% compared to 2023 , backed by the bank’s increased operational activity. BT’s operational efficiency, as reflected by the cost-toincome ratio, improved to 45.4% due to efficient cost management and streamlining of the business activity through the digitization processes.
Net loans and receivables from finance leases, at consolidated level, increased by 27.5% reaching RON 96.4 billion while customers’ deposits reached RON 167.8 billion,+ 21.6% YoY.
Business lines performance in 2024:
• Over 66,000 companies and 530,000 individuals have chosen to work with Banca Transilvania in 2024. BT reached almost 4.6 million customers at the end of 2024, of which 4.1 million are retail customers and over 480,000 are corporates.
• The bank’s new production of corporate loans amounted to RON 26.6 billion and for retail loans RON 8.8 billion in 2024. The new loans granted to Micro and SME customers are RON 2 billion higher compared to the 2023 level. The Bank was a partner in the state-guaranteed programs IMM Invest Plus and Creditul Fermierului, with loans surpassing RON 3.5 billion.
• More than 300,000 loans were granted by BT in 2024, +9.4% compared to 2023. Of these, 135,000 are consumer loans.
• The balance of gross loans, at individual level, is 13.5% higher compared to December 2023. The balance of corporate loans posted a significant 17.5% YoY growth in 2024, whereas the balance of retail loans grew by 7.9% YoY.
• More than 15,000 people have bought a home with BT’s support in 2024, the mortgages new production totaling around RON 4.5 billion. The balance of mortgage loans amounted to RON 19.3 billion in December 2024, +3.2% compared to December 2023, representing 22% of the total loan book.
• The number of cards reached 7 million, including the BT cards issued to OTP Bank Romania customers, while card transactions increased by 23% compared to 2023.
• The number of phone payments was, as of December 2024 36% higher YoY whereas the volume of BT Pay transfers grew by 54% compared to the 2023 figures.
The Non-performing exposures ratio (EBA) stands at 2.07% as of December 31, 2024, and the total provision coverage of non-performing exposures is 206%. In December 2024, ROE reached 27.0% on an individual basis, exceeding the banking system average of 18.4%. BT’s capital adequacy ratio, incorporating the interim net profit for the first half of 2024 into equity, reached 23.54%.
Banca Transilvania has a RON26.6 billion capitalization.
(English version by Catalina Apostoiu)