Banca Transilvania Financial Group’s net profit amounted to RON1.242 billion, the lender said in a statement outlining its preliminary financial results. The BT Group ended the year 2017 with total assets of RON59.8 billion. Net loans, leasing included, represent 50.6% of the group’s assets.
The bank reported a total loan balance of RON29.9 billion for 2017, 10% higher compared with 2016, and a 17% growth in deposits from customers, totaling RON49.1 billion.
The bank granted 190,000 new loans in 2017, totaling RON12.7 billion.
“In 2017 the organic growth was according to our plans and strategy. The results demonstrate the solid financial situation of the bank and represent the base of our ambitious plans for this year. 2018 will be a year of organic growth, integration of Bancpost in our business and the beginning of the replication of our business model across the border, in The Republic of Moldova, at Victoriabank,” said Horia Ciorcila, Chairman of the Board of Directors at Banca Transilvania.
Banca Transilvania has more than 245,000 company clients and works with 40% of the start-up companies founded in 2017.
Banca Transilvania’s non-performing exposure (NPE) ratio, pursuant to the European definition, is 6% and its non-performing loan (NPL) provision coverage ratio is 70%, it said.