The shares sold on June 27, 2024, account for 1.7% in the total number of Banca Transilvania shares. The EBRD retains a 5.2% stake in its longstanding partner, reads an EBRD press release.
„The Bank acquired a 15 per cent stake in the Romanian lender in 2001 to strengthen its capital base and support the expansion of its activities and loan portfolio. Since then, the EBRD has fostered a longstanding partnership with Banca Transilvania, recognising it as an innovative, fast-expanding locally owned bank in Romania. With its robust and adaptable business model, Banca Transilvania has consistently demonstrated its capability to navigate challenges swiftly and transparently, supported by a committed and seasoned management team”.
BT is headquartered in Cluj-Napoca, is listed on the Bucharest Stock Exchange and is Romania’s biggest bank. The EBRD is currently the bank’s second largest direct stakeholder.
By reducing its stake, the EBRD is helping to increase the liquidity of Banca Transilvania shares on the Bucharest Stock Exchange. As a continuing shareholder, the EBRD remains confident of Banca Transilvania future prospects and will continue to support Banca Transilvania’s future development.
In 2023, the EBRD invested EUR658 million in Romania. Since the start of cooperation in 1993, the bank has committed almost EUR11 billion in 525 projects, out of which 81% in the private sector.
Banca Transilvania in Q1/2024 generated a third of profit budgeted for the entire year. More specifically, the group ended the first three months of the year with a RON913 million net result individually.
The bank expects a 10.3% increase in assets from 2023, to RON178.789 million.
The development plan for 2024 stipulates RON643 million investments.
(English version by Catalina Apostoiu)