Runcan will take over her new position after being confirmed by the Romanian central bank, BNR.

Banca Transilvania is currently run by acting general manager Peter Franklin, assisted by deputy general manager Nicolae Tarcea.

At the beginning of the year, Robert Rekkers resigned as general manager and member of the board, after nine years at the helm.

Banca Transilvania ended 2011 with net profit of 131.8 million lei (EUR31 million), up 35% on the year, as provisioning costs fell, while net interest revenue was higher.

This year, the bank expects a 20% year-on-year increase in pretax profit, to RON334.7 million (EUR76.5 million) and a growth of 11% in net asset value, to RON28.53 billion (EUR6.52 billion), according to a budget calculated on international financial reporting standards (IFRS).

Banca Transilvania has share capital of RON1.77 billion, divided among 1.77 billion shares with a face value of RON1. The bank’s largest shareholders include the European Bank for Reconstruction and Development with 14.61%, Bank of Cyprus with 9.7% and SIF Moldova (SIF2.RO) with 5%. (EUR1=RON4.3747)