Banca Transilvania elects new board and aims to distribute dividends of RON 610 mln from the profit of 2017

Georgiana Bendre 22/03/2018 | 10:57

Banca Transilvania elects new board, whose mandate will expire in 2022, and aims to distribute dividends of RON 610 million from the profit of 2017, which reached RON 1.185 billion.

The subjects will be approved in the General Meeting of Shareholders from April 25.

One of the subjects refer to the “approval of proposition to split the net profit amounting to RON 1.185 billion in this way: RON 104.93 million for the legal reserves and other reserves, RON 1.08 billion for reserves from the shared net profit, out of which RON 610 million distributed as dividends,” according to the documents sent to the Bucharest Stock Exchange.

The shareholders of the bank want to approve a gross dividend/share of RON 0.14.

Also the shareholders will choose a new board.

„The deadline for the candidature submission is April 9, at 5 PM,” says the document.

The net profit of Banca Transilvania drooped last year by 3.46 percent to RON 1.18 billion. The operational revenues of the bank decreased by 4.6 percent to RON 2.67 billion.

The non-performing rate of Banca Transilvania, according to the European definition, is 6 percent and the level of total prevision coverage of non-performing exhibit is 70 percent.

Banca Transilvania has 2.2 million clients, over 7,000 persons in the team and over 500 subsidiaries.

The bank has a capitalization of RON 10.63 billion.

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