Tetik, 49, who’s been at the helm of Banca Transilvania for 10 years, says he saw a sharp macroeconomic change in 2022, high inflation, rising interest rates, geopolitical tensions, which will be a lasting one. We will have to adjust to higher inflation, mounting interest rates, which will also impact other economic indicators, from real estate asset prices to private consumption.
Even so, the bank has growth plans.
Banks need to be profitable, capitalized to be able to support lending and the economy.
Banca Transilvania will continue to fund traditional sectors, small and medium-sized companies, agribusiness ones, the medical field. The bank will continue to fund the real estate sector as well, but will be looking at developers’ capacity and experience in delivering projects.
Under the executive management of Omer Tetik, Banca Transilvania has become market leader via three acquisitions. Its assets have thus soared from RON32 billion to RON141 billion.
Tetik says the bank remains open to any acquisition opportunity, but is not in any active talks at the moment. Until new opportunities emerge, the bank wants to become a leader on the leasing market.
On the bourse, the bank’s value has in the past 10 years risen from RON2.5 billion to RON15 billion (EUR3 billion).
(English version by Catalina Apostoiu)