Banca Transilvania sees operational profit go up by 68 percent in H1 2010

Newsroom 28/07/2010 | 13:15

Banca Transilvania (BSE:TLV) registered a RON 390 million operating profit in the first six months of the year, 68 percent higher on the same period last year. The lender posted a gross profit of RON 60.03 million compared to RON 11.07 million in H1 2009, reaching 40 percent of its target for 2010.

“We focused on finding adequate solutions for our customers’ demands such as loan restructuring, lowering loan interest rates and launching dedicated platforms for customers interested in European funds as well as launching new products. In addition, we have attracted new customers by offering loan refinancing. This was very well received by customers”, said Robert C. Rekkers, the bank’s GM. He added that the bank’s liquidity and solvability indicators continue to be well above the limits imposed by the central bank.

At the end of June the bank had approximately 1.4 million active customers. Out of the RON 13 billion loan portfolio, about 59 percent were given to companies while the share of unperforming loans reached 5.97 percent. The loan/deposit ratio amounted to 0.83.