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Banca Transilvania, gross profit 30% higher as compared to 31.12.2012

Comunicat de presa 2014-02-13
  • 2013: +30% gross profit, +9% loans, +11% deposits
  • September – December 2013, the best quarter for lending in the last years
  • Cost/income ratio at 48.7% end of 2013
  • Major objective 2014: the year of the bank’s income growth


In 2013, Banca Transilvania registered a gross profit of RON 443.1 million, which is 30% higher as compared to the same period in 2012, and a net profit of RON 374.9 million. As at 31.12.2013, the bank’s assets amounted to RON 32,066 million. BT’s outstanding loans went up by 9% in 2013, and total deposits from customers grew by 11%, as compared to the end of 2012, whereas both growth figures exceed the budgeted level.  


Horia Ciorcilă, Banca Transilvania’s Chairman of the Board, declares: "We are very pleased with our results, particularly because we continued to be active lenders to the Romanian economy and reached all targeted objectives. 2013 was a very good year for Banca Transilvania, with September-December being one of the best quarters for BT in terms of lending. I am highly confident in BT’s team and in the bank’s outlook both for the current year and for the years to come".


More than 25,000 new loans (eq. RON 3,179 million) were granted in the last quarter of 2013 to companies and individuals.


Ömer Tetik, Banca Transilvania’s CEO states: "The bank’s major objective for 2014 resides in increasing the bank’s revenues and boosting efficiency. We focus on responsible growth, sales, keeping the ascending trend of our client portfolio, increasing operations volume, and in developing the synergies both between companies and individuals, and between the bank and its subsidiaries".


BT’s FINANCIAL RESULTS 2013 - details:

BT’s ongoing contribution to economy financing in 2013 fuelled the increase in Banca Transilvania’s operating income. This is 12% higher, i.e. RON 1,659 million in 2013, versus the same period last year, when the operating income amounted to RON 1,484 million. The net interest margin in 2013 was 3.92%. Banca Transilvania’s positive result in 2013 was also due to the efficiency increase and cost-control efforts, which led to an improvement of the cost/income ratio by more than 3 basis points, reaching 48.7% in 2013.


BT’s outstanding loans as at 31.12.2013 were RON 19,160 million, and deposits from customers reached RON 25,804 million – the loan-deposit ratio being 74.25%.


The bank’s active client base – individuals and companies – was also on the increase, from 1.67 million clients as at 31.12.2012 to almost 1.76 million as at 31.12.2013. Banca Transilvania focused mainly on Retail and SME clients, as well as on specialized segments, i.e. the agriculture and healthcare sectors. In line with the active client base, the number of operations through BT accounts grew by more than 8% versus the same period in 2012.


Banca Transilvania’s lending policy last year, as in all previous years, was prudent and attentive to risk dispersion. End of 2013, non-performing loans PAR>90, represent 12.57% of the total loan portfolio of Banca Transilvania, below the average of the Romanian banking system. Non-performing loans are covered by related provisions and mortgage collateral at a level of 122.4%, featuring a relatively stable level in the last two years.


Net provision expenses for assets and loan commitments were 9% higher compared to last year, amounting to RON 407 million, but still within the budget for 2013. Banca Transilvania continued to apply the same prudential provisioning policy over the past year, strategy which aims at consolidating the bank’s financial stability. The total balance of provisions is of RON 2,493 million as at 31 December 2013, compared to RON 2,111 million at the end of 2012.


Banca Transilvania ended the year 2013 with a portfolio of 2.1 million cards, generating transactions 13% higher than last year. Our market share in terms of transactions volume exceeded 17%. Q4 2013 was a record for Banca Transilvania on the retail segment, the value of new retail loans amounting to RON 425 million.


As concerns company clients, the bank granted about 6.000 new loans in Q4, with an average exposure per client of RON 464 thousand. The year 2013 marked the beginning of the collaboration with several local corporates, a trend that we intend to maintain also in 2014.


In 2013, Banca Transilvania issued convertible subordinated bonds in amount of EUR 30 million and signed two subordinated loan facilities in total amount of EUR 40 million. Additionally, BT initiated a micro-credit guarantee facility with the European Investment Fund.


The bank’s CAR is 13.78%, considering the aggregated profit for the year.

Financial results - Annex