Banca Transilvania shares opened 0.61% lower on the day Thursday.
“The buyback of TLV shares, in accordance with the law and within the legal boundaries of the Extraordinary Shareholders’ Meeting decision approved on the 26th of April 2017, thus deciding the purchase of a number of 10,000,000 shares (of the total of 25,000,000 shares approved for buyback by the Extraordinary General Shareholders’ Meeting) at a nominal value of RON1 per share as well as at a price at least equal with the Bucharest Stock Exchange market price at the moment of the acquisition and at a maximum price of RON3.5, in accordance with the daily transaction price on Bucharest Stock Exchange for the period of share buyback, ” the bank said in a statement.
Banca Transilvania reported a net profit of RON1.186 billion for 2017, down 3.5% on the year, and a 15% growth in assets, to RON59.3 billion.