549300RG3H390KEL8896 2024-12-31 549300RG3H390KEL8896 2025-01-01 2025-12-31 549300RG3H390KEL8896 2024-01-01 2024-12-31 549300RG3H390KEL8896 2025-12-31 549300RG3H390KEL8896 2024-12-31 ifrs-full:IssuedCapitalMember 549300RG3H390KEL8896 2024-12-31 ifrs-full:TreasurySharesMember 549300RG3H390KEL8896 2024-12-31 ifrs-full:SharePremiumMember 549300RG3H390KEL8896 2024-12-31 ifrs-full:OtherEquityInterestMember 549300RG3H390KEL8896 2024-12-31 ifrs-full:RevaluationSurplusMember 549300RG3H390KEL8896 2024-12-31 ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 549300RG3H390KEL8896 2024-12-31 ifrs-full:OtherReservesMember 549300RG3H390KEL8896 2024-12-31 ifrs-full:RetainedEarningsMember 549300RG3H390KEL8896 2024-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 549300RG3H390KEL8896 2024-12-31 ifrs-full:NoncontrollingInterestsMember 549300RG3H390KEL8896 2025-12-31 ifrs-full:IssuedCapitalMember 549300RG3H390KEL8896 2025-12-31 ifrs-full:TreasurySharesMember 549300RG3H390KEL8896 2025-12-31 ifrs-full:SharePremiumMember 549300RG3H390KEL8896 2025-12-31 ifrs-full:OtherEquityInterestMember 549300RG3H390KEL8896 2025-12-31 ifrs-full:RevaluationSurplusMember 549300RG3H390KEL8896 2025-12-31 ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 549300RG3H390KEL8896 2025-12-31 ifrs-full:OtherReservesMember 549300RG3H390KEL8896 2025-12-31 ifrs-full:RetainedEarningsMember 549300RG3H390KEL8896 2025-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 549300RG3H390KEL8896 2025-12-31 ifrs-full:NoncontrollingInterestsMember 549300RG3H390KEL8896 2025-01-01 2025-12-31 ifrs-full:IssuedCapitalMember 549300RG3H390KEL8896 2025-01-01 2025-12-31 ifrs-full:TreasurySharesMember 549300RG3H390KEL8896 2025-01-01 2025-12-31 ifrs-full:SharePremiumMember 549300RG3H390KEL8896 2025-01-01 2025-12-31 ifrs-full:OtherEquityInterestMember 549300RG3H390KEL8896 2025-01-01 2025-12-31 ifrs-full:RevaluationSurplusMember 549300RG3H390KEL8896 2025-01-01 2025-12-31 ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 549300RG3H390KEL8896 2025-01-01 2025-12-31 ifrs-full:OtherReservesMember 549300RG3H390KEL8896 2025-01-01 2025-12-31 ifrs-full:RetainedEarningsMember 549300RG3H390KEL8896 2025-01-01 2025-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 549300RG3H390KEL8896 2025-01-01 2025-12-31 ifrs-full:NoncontrollingInterestsMember 549300RG3H390KEL8896 2023-12-31 ifrs-full:IssuedCapitalMember 549300RG3H390KEL8896 2023-12-31 ifrs-full:TreasurySharesMember 549300RG3H390KEL8896 2023-12-31 ifrs-full:SharePremiumMember 549300RG3H390KEL8896 2023-12-31 ifrs-full:RevaluationSurplusMember 549300RG3H390KEL8896 2023-12-31 ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 549300RG3H390KEL8896 2023-12-31 ifrs-full:OtherReservesMember 549300RG3H390KEL8896 2023-12-31 ifrs-full:RetainedEarningsMember 549300RG3H390KEL8896 2023-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 549300RG3H390KEL8896 2023-12-31 ifrs-full:NoncontrollingInterestsMember 549300RG3H390KEL8896 2023-12-31 549300RG3H390KEL8896 2024-01-01 2024-12-31 ifrs-full:IssuedCapitalMember 549300RG3H390KEL8896 2024-01-01 2024-12-31 ifrs-full:TreasurySharesMember 549300RG3H390KEL8896 2024-01-01 2024-12-31 ifrs-full:SharePremiumMember 549300RG3H390KEL8896 2024-01-01 2024-12-31 ifrs-full:RevaluationSurplusMember 549300RG3H390KEL8896 2024-01-01 2024-12-31 ifrs-full:ReserveOfGainsAndLossesOnFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncomeMember 549300RG3H390KEL8896 2024-01-01 2024-12-31 ifrs-full:OtherReservesMember 549300RG3H390KEL8896 2024-01-01 2024-12-31 ifrs-full:RetainedEarningsMember 549300RG3H390KEL8896 2024-01-01 2024-12-31 ifrs-full:EquityAttributableToOwnersOfParentMember 549300RG3H390KEL8896 2024-01-01 2024-12-31 ifrs-full:NoncontrollingInterestsMember 549300RG3H390KEL8896 2025-06-01 549300RG3H390KEL8896 2025-11-01 xbrli:shares iso4217:RON xbrli:shares iso4217:RON
BANCA TRANSILVANIA IN 2025: SOLID PERFORMANCE, ABOVE-AVERAGE
GROWTH, AND VALUE FOR INVESTORS AND SHAREHOLDERS
Dear investors and shareholders,
Thank you for the trust you place in us and for your continued support of Banca
Transilvania’s development strategy. Looking back on 2025, we are pleased to present the
key achievements and developments that defined BT’s journey during an intense year,
marked by economic volatility, but also by opportunities that we were able to capitalize on.
2025 was a year in which Banca Transilvania continued to outperform the market average,
consolidating its leading position. Consolidated net profit reached RON 4.66 billion, and
assets grew to RON 224.4 billion, reflecting our ability to support large volumes of business
while maintaining a balanced risk profile.
2025 was also a year of strategic execution. We completed two mergers – BT–OTP Bank
Romania and Victoriabank–BCR Chișinău – and finalized two acquisitions with long-term
impact: BRD Pensii and Microinvest. These transactions strengthen Banca Transilvania
Group’s position in banking, private pensions, and microfinance, expand our customer
base, and diversify revenue sources – both in Romania and in the Republic of Moldova. The
integration of these entities creates a solid foundation for operational and commercial
synergies in the coming years.
For you, our investors and shareholders, 2025 was a year in which we continued to deliver
value. We distributed dividends in two stages, totaling nearly RON 2.3 billion, reflecting our
commitment to rewarding the trust placed in us while maintaining a balanced capital policy.
At the same time, we maintained a solid capital position, with a capital adequacy ratio of
22.71%, which allows us to support future growth.
Banca Transilvania’s Financial Performance
• BT’s net profit in the fourth quarter of 2025 amounted to RON 1.17 billion, up 2.4%
compared to the third quarter of the year and up 42.6% compared to the fourth
quarter of 2024.
• The gross loans-to-deposits ratio rose to 62.6%, 5.4 percentage points higher than
the level recorded in December 2024, driven by both acquired portfolios and the
organic growth generated in a context of multiple challenges.
• The non-performing loans ratio (as per the EBA methodology) stood at 2.40% as of
December 31, 2025, while the coverage ratio with total provisions for
non-performing exposures was 178.9%, reflecting a prudent position and the quality
of the portfolio.
• Net expenses, including impairment adjustments and expected losses on assets, as
well as provisions for other risks and credit commitments, increased to RON 622.2
million, resulting in a cost of risk that remains below 1% (0.59%). These figures
confirm the bank’s controlled risk profile.
• The bank’s cost-to-income ratio improved by nearly 1 percentage point (0.99
percentage points), reaching 44.39%, as a result of operational efficiencies
implemented throughout 2025. Excluding the impact of the turnover tax – which
adds nearly 5 percentage points – the cost-to-income ratio (C/I Ratio) would be
39.41%.
• Return on Equity (ROE) reached 25.23% in December 2025. BT’s capital adequacy
ratio stands at 22.71%, including the interim net profit for the first half of the year in
its equity, which keeps the bank in a solid capital position, capable of supporting
future growth.
The results reflect an efficient business model, financial discipline, and our ability to
generate value.
2026, a year of growth, beyond the numbers
We entered this year with a robust business model, a strong capital structure, and a well-
defined growth strategy. We are ready to capitalize on market opportunities and continue
to build value in a sustainable manner – not only through scale, but also through the
experience we offer our stakeholders. Growth in 2026 means more than just expansion: it
means disciplined execution, responsible decisions, and a firm commitment to you, to our
customers, and to the communities we are part of.
We remain dedicated to our role as the main lender of the Romanian economy, even during
challenging periods. We continue to support companies, the population, and Romania’s
strategic projects with the same responsibility and rigor that have defined us in recent
years.
We appreciate your trust and partnership. We understand the responsibility of managing
the capital you entrust to us, and we remain committed to building long-term value with
transparency, discipline, and vision. The story says we can.
Horia Ciorcilă
Chairman, Board of Directors
Banca Transilvania
Ömer Tetik
Chief Executive Officer
Banca Transilvania
BT’S BUSINESS MODEL, BUILT ON SCALE AND IMPACT
BOARD OF DIRECTORS
LEADERS’ COMMITTEE
BANCA TRANSILVANIA BRAND – MAGNETISM, RELEVANCE AND VISIBILITY
Banca Transilvania ranks third among Romania’s most valuable brands
Banca Transilvania retains its third place in the ranking of the most valuable Romanian
brands, with a significant increase of 34% compared to the previous year, brand value
reaching EUR 856 million.
The Brand Finance Romania 50 analysis was conducted by Brand Finance, a UK-based
leader in standardized brand valuation.
Brand value refers to the net economic benefit a brand owner would obtain by licensing
the brand on the market.
Each year, Brand Finance analyzes 6,000 of the world’s largest brands and publishes over
a hundred reports, two examples being the Brand Finance Romania 50 and the Brand
Finance Banking 500.
Banca Transilvania’s brand value increased by 39% in 2025, reaching USD 955 million
Banca Transilvania’s brand value increased by 39% and reached USD 955 million,
according to the Brand Finance Banking 500 2025 report.
Ranked as an elite international brand, with an AAA+ rating, BT brand holds the 225th
position in the ranking, moving up 27 spots from the 2024 ranking.
According to the algorithm developed by Brand Finance, the bank also recorded a Brand
Strength Index (BSI) score of 95.3/100, meaning it has maintained its position among the
top 10 strongest banking brands in the global ranking for the fourth consecutive year.
The excellent ratings obtained by BT are based, according to the assessment, on the
dimensions of
familiarity
,
reputation
, and
customer perception
, as well as strategic
investments, constant engagement with the communities the bank is part of, a focus on
digital transformation, and the integration of artificial intelligence into customer
communication.
BT, among the top-ranked Romanian brands
Banca Transilvania ranks among the top five most recognizable Romanian brands,
according to a study conducted by Frappe Digital (Daedalus Online). The top three
positions are held by Dacia, Borsec, and Napolact, brands with a long tradition and strong
visibility among consumers.
Banca Transilvania’s ranking confirms the brand’s consistency and its presence in people’s
daily lives, in a context where familiarity and trust play an essential role in public perception.
Brand unaided awareness, a key indicator of brand performance
The ranking was based on brand unaided awareness, one of the most relevant indicators
in assessing a brand’s strength. It measures brands spontaneously mentioned by
respondents, without prompts or predefined lists, thus reflecting the brand’s actual
presence in the public’s memory.
The study was conducted among the urban population of Romania, using a sample of over
1,000 respondents aged 18 to 65.
BANCA TRANSILVANIA & COMMUNITY: INVOLVEMENT AND SOCIAL
RESPONSIBILITY
At Banca Transilvania, we believe that real impact is built day by day, step by step. We are
the bank for entrepreneurs, investing in the communities we are part of, understanding that
success is directly proportional to the prosperity of those around us.
In our 32 years of activity, we have supported Romanian entrepreneurs in generating long-
term economic value, we have supported non-profit organizations in taking care of social
capital, and we have encouraged performance in all its forms, from education and sports
to art and environmental protection.
Social responsibility is a commitment. Thus, in 2025, we continued to be the engine that
drives ideas, people, and resources, investing 87 million lei in over 380 projects across our
country.
Resilience through education and digital safety
In 2025, we continued the two BT projects that strengthen Romanians' knowledge of
financial education and prevention in the digital environment.
• „FIT” (i.e. Finance for Everyone): The platform through which we translated complex
concepts related to savings and investing into accessible language. It became the
most watched financial education platform in the country, involving over 40,000
active participants in the learning process.
• "Wait a minute before you click": The national campaign through which we
contributed to reducing the risk of fraud, through timely prevention messages,
dedicated campaigns, and quizzes addressed to BT customers, entrepreneurs, and
the entire population.
Solidarity: Investing in the next generation
The hardest beginnings deserve the most support. The strategic project developed
together with Mastercard and Salvați Copiii is a commitment for a period of three years,
amounting to EUR 1.5 million, through which we will direct vital resources to maternity
wards, medical staff, and premature newborns who need monitoring and specialized care.
Our care for the future did not stop there, it naturally extended into the digital environment,
where we transformed the BT Pay app into an ecosystem of good deeds. At Banca
Transilvania, we know one thing for sure: part of the bank's strength comes from its
community, and this was reinforced in 2025 when customers donated over RON 2 million
through BT Pay, and we doubled this gesture of kindness by supporting our long-term
partners such as:
• The Blondie Association – The first air ambulance service dedicated to children
• Peditel – Free, round-the-clock pediatric medical assistance by phone
• Casa Bună – Educational, medical, and vocational support for a decent life
• Hope and Homes for Children – Building family homes for children and teenagers in
orphanages
Whether we are involved in supporting children from vulnerable backgrounds or supporting
young people, our role has been to build bridges between resources and needs.
A bank for everyone by increasing accessibility
Banca Transilvania is a universal bank, which means that we address all segments and
serve all categories of customers. We strive to be a bank that is accessible to everyone.
Thus, in 2025, we continued to invest in accessibility, accelerating the pace of development
of new solutions dedicated to people with special mobility, hearing, and visual needs by
optimizing the Banca Transilvania website and the BT Pay app, as well as by adapting our
services, products, and physical locations.
Currently, in one of Banca Transilvania's five physical locations, people with hearing
impairments have access to information through sign language, with the help of specialized
interpreters, via ”Voci pentru mâini”.
Culture and Identity
We support young artists and the access to art, encourage participation in a vibrant cultural
life, and are proud promoters of festivals that put us on the world map. From the traditional
TIFF festival (125,000 participants in 2025) to the innovative MINA Cluj immersive art
museum, we have opened up even greater access to culture, while through partnerships
with MARe, Art Encounters, and RAD Art Fair, we have supported culture as a form of
dialogue and identity.
We have also continued the intergenerational dialogue, being constantly present at
festivals such as UNTOLD, Electric, Beach Please! or Nostalgia, where we have gone
beyond brand interactions, transforming BT into part of the communities formed by these
experiences and events.
Performance and national pride
Sport means courage, discipline, and resilience, values that we actively cultivate at BT. We
cover the entire spectrum, from mass sports to international excellence. We support major
sporting events such as the Transylvania Open, a WTA 250 tournament that consolidates
Romania's position on the tennis map, and the Sports Festival, one of the largest events
dedicated to encouraging sport at the national level.
At the same time, we develop long-term partnerships with sports organizations and
national federations. These include the Romanian Football Federation, the Romanian
Basketball Federation, the Romanian Olympic and Sports Committee, as well as clubs and
academies dedicated to training young athletes, such as U-Banca Transilvania and the
Gheorghe Hagi Academy.
Roots for the future
Our responsibility towards the environment is one of Banca Transilvania's longest-standing
commitments. With over 340,000 seedlings planted over the years, since 2014, over 90
hectares of land have been reforested, contributing to the restoration of fauna and
biodiversity in Cluj, Bistrița-Năsăud, Călărași, and Bucharest.
We have continued our strategic partnership with Via Transilvanica – The Road that Unites.
We support this project, which is close to our hearts and promotes the rural environment,
attracting tens of thousands of tourists and breathing new life into local communities. Our
partnership with Via Transilvanica is a symbol of our respect for rural and natural heritage,
serving as a bridge between regions, traditions, and communities.
This is part of our impact on building a stronger and more united country. We continue to
grow alongside the people and communities we are part of, transforming financial success
into sustainable social impact, because when Romania does well, Banca Transilvania does
well.
Banca Transilvania ranks first in terms of customer satisfaction among large banks in
Romania, with 12 points above the market average (NPS – Net Promoter Score). Customers
appreciate the quality of products and services, the professionalism of the team, and the
infrastructure that makes banking easier.
ARTIFICIAL INTELLIGENCE @BT, ACCELERATED INTEGRATION IN 2025
The Banca Transilvania Group accelerated in 2025 the integration of artificial intelligence
(AI) solutions, supporting both customer interactions and the efficiency of internal teams.
In a context where the volume of information and customer expectations are increasing
rapidly, AI is becoming more and more part of the communication and organizational
processes.
More than 1.3 million people interacted last year with BT solutions that integrated artificial
intelligence. Chatbots and the intelligent search and support option (AI Search) are now
part of customers’ everyday experience, offering fast, simplified, personalized and 24/7
assistance.
AI for Customers
• 550,000 people used AI Search on the Banca Transilvania Group websites last year,
representing a 28% increase in 2025 compared to 2024.
• Over 700,000 people used the virtual assistant Chat BT in the BT Pay app during
the past year, generating 1.5 million interactions since its launch in January 2025.
AI for Employees
• Launch of AIvolution, a program dedicated to transforming the way teams work,
collaborate and innovate, through the responsible and effective adoption of AI
technologies.
• Microsoft 365 Copilot and GitHub Copilot assistants, supporting the development
of new, more efficient daily working habits.
• Integration of AI into selected processes of the BT Contact Center & Customer Care
team to enhance efficiency in assisting customers.
Human Banking + AI
Our commitment is Human Banking + AI: combining the power of technology with the
empathy and expertise of the #peopleofBT.
Banca Transilvania has been a trailblazer in adopting AI in banking, starting with the launch
of the first BT website chatbot in 2017. The evolution of BT’s AI ecosystem is supported
through partnerships with leading technology players such as DRUID, Microsoft and
Crayon.
The adoption of AI is always about people – colleagues and customers – and about how we
can make banking simpler, more intuitive and more human.
MACROECONOMIC TRENDS THAT SHAPED THE YEAR
World Economy
In 2025, global economic activity expanded at a moderate pace, continuing the post-
pandemic normalization phase but under persistent structural and geopolitical constraints.
Economic growth remained uneven across regions, reflecting divergent inflation behavior,
policy responses, and trade developments. According to IMF estimates, global GDP
advanced by approximately 3.2%, broadly in line with the previous year but with notable
cross-country differences.
Advanced economies recorded softer momentum, with aggregate growth easing to around
1.6%, as tighter financial conditions, weaker industrial output, and reduced external
demand weighed on activity. By contrast, emerging markets and developing economies
demonstrated stronger resilience, achieving an average expansion of roughly 4.2%,
supported by domestic demand, demographic factors, and selective policy stimulus.
Disinflation progressed during 2025, although the decline in headline inflation proved more
gradual than initially anticipated. In several major economies, price pressures stabilized
above central bank targets, indicating persistent services inflation, wage rigidity, and
second-round effects. This environment kept monetary authorities cautious, as premature
easing risked reigniting inflation expectations.
Global trade patterns exhibited significant volatility. Early-year behavior was shaped by
front-loading effects, particularly stronger U.S. imports and increased exports from Asia
and the Eurozone, driven by expectations of higher tariffs. As trade tensions intensified
later in the year, merchandise flows decelerated. Nevertheless, WTO projections suggest
global goods trade still achieved growth of approximately 2.4% by year-end.
The balance of risks to the global outlook remained tilted to the downside, primarily
reflecting geopolitical fragmentation, trade policy uncertainty, elevated sovereign debt
vulnerabilities, and potential financial market repricing.
U.S. Economy
Economic growth in the United States moderated in 2025, with real GDP increasing by
around 2.0%, down from the stronger performance observed in 2024. The deceleration
was attributable to a combination of factors, including restrictive monetary policy
transmission, adverse weather-related disruptions, and heightened uncertainty
surrounding trade measures.
Despite slower headline growth, household consumption continued to serve as the
principal engine of expansion. Labor income gains, accumulated savings buffers, and stable
employment conditions underpinned consumer spending, offsetting weaker business
investment and softer manufacturing output.
Inflationary pressures persisted throughout much of the year. Average consumer price
growth reached approximately 2.7%, reflecting sticky services inflation and cost pass-
through effects linked to tariffs and wage adjustments. While inflation remained
significantly below peak levels seen in prior years, progress toward the Federal Reserve’s
target was incomplete.
Labor market conditions remained comparatively robust. The unemployment rate edged
higher to 4.2%, indicating mild cooling but still consistent with historically tight employment
levels. Wage growth showed signs of moderation, suggesting gradual realignment between
labor demand and supply.
Trade policy developments constituted a central theme in 2025. Newly imposed tariffs and
the absence of durable multilateral agreements contributed to elevated uncertainty,
influencing business sentiment, investment planning, and price expectations.
In summary, the U.S. economy was characterized by slower growth, persistent inflation
frictions, and policy-driven uncertainties. Economic fundamentals remained solid, yet
downside risks necessitated continued prudence in macroeconomic management.
Eurozone
The Eurozone economy displayed modest but improving growth in 2025. Quarterly GDP
growth strengthened toward the end of the year, with fourth-quarter output rising by 0.4%
q/q, translating into an estimated 1.5% annual growth rate. This performance modestly
exceeded earlier expectations but masked considerable heterogeneity among member
states.
Economic activity remained constrained by reduced industrial production, weaker external
demand, and cautious consumer behavior. Germany and Italy experienced softer growth
trajectories, while earlier contributions from Ireland – partly linked to pharmaceutical-
related export flows – normalized during the year.
Inflation continued its downward adjustment, reaching approximately 1.9% by December
2025. The moderation was largely driven by easing energy price pressures and base
effects. However, services inflation and price increases in food-related categories
remained sources of upward pressure.
Monetary policy in the Eurozone gradually shifted toward a more accommodative stance
as inflation receded. The European Central Bank maintained a data-dependent approach,
balancing support for economic recovery with vigilance against premature easing.
External risks continued to influence the region’s outlook. Trade frictions, geopolitical
instability, and global demand softness weighed on confidence indicators and investment
decisions.
Looking ahead, the European Commission's Autumn 2025 Economic Forecast projects real
GDP growth in the Eurozone to slowly decline to 1.2% in 2026 and rebound at 1.4% in 2027.
However, elevated uncertainty, both domestically and internationally, continues to weigh
on the Eurozone economy, necessitating cautious optimism in growth projections.
Romanian Economy
Romania’s economic evolution in 2025 was defined by moderate growth, macroeconomic
adjustment pressures, and structural shifts in demand composition. Economic expansion
remained positive but reduced, reflecting the combined effects of fiscal consolidation
measures, persistent inflationary pressures, and weaker household consumption.
GDP exhibited volatility throughout the year. Official statistics indicate modest growth in
2025 of 0.6% (real GDP growth), although quarter-on-quarter data signaled a slight
contraction (–1.9% q/q) at year end, suggesting temporary loss of momentum.
A notable feature of 2025 was the reconfiguration of growth drivers. Private
consumption, previously the dominant contributor, decelerated as a result of tighter
income conditions and elevated price levels. In contrast, gross fixed capital formation
strengthened, supported by:
• Accelerated public infrastructure investment
• Enhanced absorption of EU structural funds
• Continued implementation of projects under the Recovery and Resilience Facility
(RRF)
• Investments in transport, energy, and digitalization
Inflationary developments remained challenging. Headline inflation re-accelerated in the
second half of the year, influenced by electricity price liberalization, indirect tax
adjustments, and persistent services price pressures.
Fiscal consolidation represented a central policy priority. By December 2025, the general
government deficit reached approximately 7.65% of GDP, reflecting revenue-enhancing
measures (VAT and excise increases, tax base broadening) and expenditure discipline
efforts.
2025 brought the weakening of the national currency beyond the psychological 5.0
EUR/RON level in the first half of the year as a result of the political uncertainty. In the
following months, the EUR/RON exchange rate showed moderate depreciation of the
Romanian RON against the Euro, as a result of the domestic economic pressures (fiscal
consolidation weighing on growth and confidence).
The National Bank of Romania maintained a restrictive monetary stance, keeping the policy
rate at 6.50%, alongside unchanged corridor facilities. The decision reflected inflation
persistence and external risk considerations.
Financial markets showed resilience. Romania’s capital market recorded improved liquidity,
higher investor participation, and new valuation highs toward year-end, supported by
sustained issuance activity and favorable sentiment.
Overall, Romania’s macroeconomic environment in 2025 is defined by resilience and
persistent vulnerabilities. Growth remains modest, constrained by fiscal consolidation,
elevated inflation, and reduced household demand, while public investment and EU fund
absorption have become the main engines of activity. Inflation, though expected to
gradually moderate, remains high, and the fiscal deficit continues to test the country’s
credibility and market confidence.
*Surse: Eurostat, National Institute of Statistics, National Bank of Romania, European Central Bank
DEVELOPMENTS IN THE ROMANIAN BANKING SYSTEM
Banking sector
The National Bank of Romania (NBR) maintained its monetary policy rate at 6.5%, the
lending facility at 7.5%, and the deposit facility at 5.5% (effective since August 8, 2024).
The minimum reserve requirement ratios for credit institutions’ RON‑denominated and
foreign‑currency‑denominated liabilities were also kept unchanged at 8% for RON and 5%
for foreign currency.
Developments of main macro-
financial indicators
2020
2021
2022
2023
2024
2025
GDP, real (% YoY)
-3.7
5.8
4.0
2.4
0.9
0.6
Inflation (IPC) (% YoY, annual average)
2.6
5.0
13.8
10.4
5.6
7.3
Unemployment (average, %)
6.1
5.6
5.6
5.5
5.4
6.0
Monetary policy rate (end of the year)
(%)
1.50
1.75
6.75
7.00
6.50
6.50
ROBOR (3M) (%, annual average)
2.38
1.82
6.20
6.62
5.88
6.39
ROBOR (6M) (%, annual average)
2.46
1.94
6.35
6.78
5.91
6.51
EURIBOR (3M) (%, annual average)
-0.43
-0.55
0.36
3.43
3.57
2.18
EURIBOR (6M) (%, annual average)
-0.37
-0.52
0.69
3.69
3.48
2.20
EUR/RON, end of the year
4.8694
4.9481
4.9474
4.9746
4.9741
5.0985
USD/RON, end of the year
3.9660
4.3707
4.6346
4.4958
4.7768
4.3417
EUR/USD, end of the year
1.2271
1.1326
1.0666
1.1050
1.0354
1.1750
Non‑government credit increased by 6.2% year‑on‑year in December 2025 (annual average
growth: 8.3%), reaching a new all‑time high of RON 447.3 billion.
Within non‑government credit, the growth rate of loans granted to companies slowed to
3.6% year‑on‑year in December 2025, with an annual average increase of 6.7%.
Loans granted to households moderated to an 8.3% year‑on‑year growth rate in December,
from 10% year‑on‑year in July. Thus, in 2025, household lending recorded an annual
average growth rate of 9.3%. Housing loans rose by 6.5% year‑on‑year (annual average:
6%), while consumer loans increased by 11.1% year‑on‑year (annual average: 14.2%).
Lending in local currency continued its upward trend (10.4% year‑on‑year; annual average:
12.2%), whereas euro‑denominated lending followed a declining trend (‑14.5%
year‑on‑year; annual average: ‑16.2%).
Non‑government deposits increased by 6.9% year‑on‑year in December 2025 (annual
average growth: 7.2%).
Household deposits grew by 8.1% year‑on‑year (annual average: 9.7%). Within this
category, overnight deposits recorded a deceleration (9.5% year‑on‑year; annual average:
12.2%), while term deposits increased by 6.9% year‑on‑year (annual average: 7.5%).
Corporate deposits accelerated to 3.7% year‑on‑year in December, compared to 1.2%
year‑on‑year in October 2025. The annual average growth rate was 2.2%, down from 9.2%
in 2024. Term deposits rose by 5.6% year‑on‑year (annual average: 1.5%), whereas
overnight deposits increased by 2.4% year‑on‑year (annual average: 2.8%).
The loans‑to‑deposits ratio stood at 67.3% in December 2025, down from 68.8% in
September 2025 and from 67.6% in December of the previous year.
EASY‑TO‑ACCESS INFORMATION THROUGH THE BT RESEARCH ONLINE
PLATFORM
BT Research is Banca Transilvania’s platform dedicated to macroeconomic analyses,
economic forecasts, and the monitoring of essential indicators that shape the evolution of
Romania’s economy and financial markets. The platform provides quick access to data,
insights, and relevant analyses, supporting informed decision‑making both at institutional
level and for the general public.
Relaunched and expanded in 2026, BT Research integrates into a unified format:
• A synthesis of Romania’s key macroeconomic indicators, accompanied by Banca
Transilvania’s outlook;
• Interactive charts illustrating economic developments over the past 10 years;
• Thematic analyses, including studies on Romania’s external economic relations;
• Opinions from international economists, such as analyses dedicated to the
European economic context („The European Outlook for 2026: Risks and
Opportunities in a Changing World”).
The platform was officially presented at the Central & Eastern European Forum, an event
organized by Financial Times Live in Vienna, highlighting its role as a strategic tool for
delivering economic knowledge in an accessible and up‑to‑date manner.
Through BT Research, Banca Transilvania reinforces its commitment to contributing to
financial well‑being and safety by providing rigorous, relevant, and user‑friendly analyses.
The platform integrates economic research, financial market dynamics, economic cycles,
and public policy perspectives, offering a comprehensive view of the trends shaping the
economic landscape.
Access to BT Research is available directly through the Bank’s website or by subscribing
to the monthly newsletter, which delivers updates on economic indicators, market trends,
and specialized analyses.
SHAREHOLDING STRUCTURE
Shareholders
31.12.2025
31.12.2024
NN Group (*)
9.37%
9.37%
European Bank for Reconstruction and Development
5.16%
5.16 %
Romanian individual shareholders
25.15%
24.21 %
Romanian companies
45.56%
45.20 %
Foreign individual shareholders
1.17%
1.11%
Foreign companies
13.59%
14.95%
Total
100.00%
100.00%
(*) NN Group N.V. and pension funds managed by NN Pensii SAFPAP S.A. and NN Asigurări de Viață S.A.
BT SHARE PERFORMANCE ON THE CAPITAL MARKET IN 2025
In 2025, Banca Transilvania’s stock price return (TLV symbol), adjusted for the stock
dividends paid in July, was 33.0%
1
, while the BET index rose 46.2%. The total return of the
stock (i.e. considering the cash dividends paid in June and December) was 45.0%,
compared to BET-TR’s 55.2% return.
1
The unadjusted return was 11.9%.
15.21
14.73
15.71
24.01
28.62
16.28
14.10
19.38
24.76
32.93
0
5
10
15
20
25
30
35
2021 2022 2023 2024 2025
Market capitalization, 2021 - 2025
RONbn
Average End of Period
Source: EquityRT
Date
Price (adjusted,
except cash
dividends)
No. shares
Capitalization
(RON billion)
Capitalization
(EUR billion)
31 dec. 2025
30.20
1,090,322,225
32.93
6.46
31 dec. 2024
22.70
916,879,846
24.76
4.97
31 dec. 2023
17.78
798,658,233
19.38
3.89
31 dec. 2022
12.93
707,658,233
14.10
2.85
31 dec. 2021
14.87
6,311,469,680
16.28
3.29
*Source: EquityRT
In April, shareholders approved the distribution of a cash dividend amounting to c. RON
1.59 billion, corresponding to a dividend per share of approximately RON 1.73, which was
paid in June. In July, Banca Transilvania increased its share capital by c. RON 1.73 billion
via the transfer of retained earnings from the FY24 net profit and the issuance of a stock
dividend. In October, shareholders approved a cash dividend of RON 700 million (around
RON 0.64 per share) from FY15, FY16, and FY19 retained earnings, which was paid in
December. In addition, the Bank conducted buybacks worth RON 147 million throughout
2025.
Note: The dividend payout ratio is calculated as the total dividends declared for the financial year divided by the consolidated
net profit attributable to the Bank’s shareholders. It is displayed on the primary (lower) horizontal axis, which reflects the
fiscal years.
The dividend yield is defined as the dividend per share divided by the unadjusted share price on the trading day immediately
preceding the ex‑dividend date. In years with multiple distributions, individual yields are aggregated. Dividend yields are
displayed on the secondary (upper) horizontal axis, which reflects the calendar years in which the distributions were made.
Price adjusted for reverse stock splits and stock dividends.
Source: Company data, EquityRT, BTCP calculations.
60.6% 38.0% 49.2% 65.5% 46.4% 30.8% 40.6% 37.3% 34.6% 34.9%
14.0%
2.1%
5.9%
7.3%
4.8%
2.9%
5.0%
5.0%
3.8%
7.5%
0%
4%
8%
12%
16%
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
0%
20%
40%
60%
80%
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Payout ratio Dividend yield
RELATIONSHIP AND COMMUNICATION WITH INVESTORS AND SHAREHOLDERS
At the end of 2025, Banca Transilvania had over 72,000 shareholders, and the average
pace of nearly 500 new investors per month confirms the sustained interest in BT as an
investment opportunity. This trend is supported by the Bank’s solid financial performance,
reputation and resilience, as well as the confidence in its role as a leader in the banking
sector in Romania and South‑Eastern Europe, and as a key player in the capital market.
Communication with shareholders, investors and analysts is one of BT’s priorities, as we
aim to maintain a transparent and ongoing dialogue with this community.
BT Communication Ecosystem
• The online Investor Relations platform serves as the central hub for financial
communication, providing access to results, presentations, reports, plans, updates,
and other resources essential for investment analysis.
• Ongoing dialogue with investors, shareholders, and analysts is supported through
dedicated meetings, events such as the General Shareholders' Meeting or Investor
Day, videoconferences and direct interactions, ensuring openness, transparency,
and continuous engagement.
We communicate with the market through several BT Group companies, as well as via the
Bucharest Stock Exchange www.bvb.ro/TLV:
• Banca Transilvania, www.bancatransilvania.ro/relatii-investitori;
investor.relations@btrl.ro
• BT Capital Partners, www.btcapitalpartners.ro
• BT Asset Management, www.btam.ro
• BT Pensii, www.btpensii.ro
VEKTOR Rating 10/10
The Bank obtained a VEKTOR rating of 10/10 for investor communication in 2025, both as
an equity and bond issuer, following the assessment conducted by ARIR.
2026 FINANCIAL COMMUNICATION CALENDAR
February
• February 27: Presentation of the preliminary financial results for 2025
March
• March 02: BT Video Conference for the presentation of the financial results
• March 27: Presentation of the Annual Report 2025
April
• April 28: General Meeting of Shareholders – first convening
• April 29: General Meeting of Shareholders – second convening
May
• May 22: Presentation of the Q1 2025 financial results
• May 25: Conference for the presentation of the results
August
• August 21: Presentation of the H1 2025 financial results
• August 24: Conference for the presentation of the results
November
• November 20: Presentation of the Q3 2025 financial results
• November 23: Conference for the presentation of the results
PROFIT DISTRIBUTION PROPOSAL FOR THE FINANCIAL YEAR 2025
The Board of Directors submitted for approval by the General Shareholders’ Meeting (GSM)
the proposal to distribute the net profit amounting to RON 4,095,289,537 as follows:
Proposal for 2025 profit distribution
Amounts (RON)
Net profit 2025
4,095,289,537
5% Legal reserve fund from gross profit
(241,182,226)
Net profit to be distributed
3,854,107,311
The Board of Directors proposes for approval to increase the Bank’s paid share capital from
RON 10,903,222,250 to RON 12,475,866,500, with the amount of RON 1,572,644,250,
representing reserves from the 2025 net profit. The increase in the share capital will be
carried out by issuing a number of 157,264,425 shares, with a nominal value of RON
10/share in the benefit of the shareholders registered with the Shareholding Register held
by the Central Depository at the registration date that will be established by the GMS
following that the price for the compensation of the fractions of shares resulting from the
application of the algorithm and the rounding of the results, to be determined in accordance
with the legal provisions in force. The Board of Directors proposes for approval the
distribution of profits by granting dividends amounting to RON 1,400,000,000 and the
amount of RON 881,463,062 is distributed in retained earnings.. The gross dividend per
share amounts to RON 1.2840240875.
Following the implementation of the resolution adopted by the General Meeting of
Shareholders regarding the allocation of the net profit for the 2025 financial year, the
capital ratios as at 31 December 2025 will become: Common Equity Tier 1 ratio of 18.62%,
Tier 1 capital ratio of 21.55%, and Total Capital Ratio (solvency ratio) of 23.56%.
Proposal for 2025 profit distribution
Amounts (RON)
Total available reserves for distribution
3,854,107,311
Retained earnings
700,000,000
Dividends
1,400,000,000
Distribution related to AT1 instruments
181,463,062
Capitalization of 2025 net profit reserves
1,572,644,250
Share capital at recording date*
10,903,222,250
Yield per share % capitalization
0.14423664985
*The share capital registered with the Trade Register amounts to 1,090,322,225 shares with a nominal value of 10 RON /
share.
The distribution related to the AT1 instruments will be recorded as a payment obligation in
EUR on the date on which the proposal for the allocation of the profit for the 2025 financial
year is approved by the General Meeting of Shareholders (GMS). The payment will be made
in two instalments, the first on May 27, 2026 and the second on November 27, 2026,
subject to the fulfilment, at the relevant dates, of the conditions applicable to distributions
related to AT1 instruments.
The total amount of the distributions related to the AT1 instruments, established in
accordance with the issuance prospectus, is EUR 35,625,000. The RON equivalent of
181,463,062 was calculated using the exchange rate of 1 EUR = 5.0937 RON as of March
11, 2026. The final value in RON will be higher or lower depending on the evolution of the
EUR/RON exchange rate until the date the payment obligation in EUR is recorded.
FINANCIAL RESULTS
The following section provides a presentation of the financial performance of Banca
Transilvania and the BT Financial Group, highlighting the main results, strategic progress
and factors that influenced our activity during the reporting period:
BANK
GROUP
Financial Information of the Group*
2025
2024
2025
2024
ROE (Net profit/ average equity)
25.23%
27.02%
24.84%
30.20%
ROA (Net profit/ annual average of total
assets at net value)
2.06%
2.06%
2.23%
2.52%
Cost/income
44.39%
45.38%
46.66%
48.30%
Total net income, RON mn.
9,786
8,224
11,661
10,061
Provisions for credit risk, RON mn.
(622)
(332)
(832)
(575)
Gross profit, RON mn.
4,819
4,160
5,510
5,442
Net profit, RON mn.
4,095
3,532
4,661
4,731
Basic earnings per share
4.1119
4.1809
Diluted earnings per share
4.1119
4.1809
Tier 1 own funds, RON mn.
17,961
14,413
19,549
16,708
Risk Weighted Assets, RON mn.
86,756
69,206
99,132
87,865
Total Assets, RON mn.
210,398
184,264
224,414
207,035
Total Equity**, RON mn.
20,092
14,219
23,298
17,437
Other information
Number of agencies, branches and offices
531
513
Active number of employees
10,180
9,744
13,361
13,629
*Due to rounding, the numbers presented in this document may not add up exactly to the total presented and the
percentages may not accurately reflect absolute numbers.
**Including Non-controlling interest
ACQUISITIONS, INTEGRATIONS, MERGERS – THE MOST DYNAMIC YEAR IN BT
GROUP’S HISTORY
BT Group carried out two simultaneous mergers, in Romania and the Republic of Moldova:
Banca Transilvania – OTP Bank Romania and Victoriabank – BCR Chișinău. Two strategic
acquisitions were also completed: BRD Pensii, Pillar 2 and Pillar 3 private pensions player,
and Microinvest, the market leader in microfinance in the Republic of Moldova.
Merger of OTP Bank Romania S.A. and BT Building S.R.L. with Banca Transilvania S.A.
The mergers between Banca Transilvania S.A. and OTP Bank Romania S.A. and Banca
Transilvania S.A. and BT Building S.R.L. were successfully completed on February 28, 2025.
The merger has brought significant benefits to both banks' customers, giving them access
to an extensive ecosystem of banking and complementary solutions.
Merger of BCR Chisinau S.A. with Victoriabank S.A.
On March 01, 2025, Victoriabank S.A. completed its merger with BCR Chisinau S.A. The
assets of the absorbed entity were transferred entirely and universally to Victoriabank S.A.,
thereby consolidating its position in the banking market of the Republic of Moldova. This
merger has no impact on consolidated and separate financial statements of Banca
Transilvania S.A.
Acquisitions
On October 2, 2025, Victoriabank S.A. acquired 100% of the shares in O.C.N. Microinvest
S.R.L. Chisinau. The subsidiary of Victoriabank S.A. is controlled by Banca Transilvania S.A.,
therefore, starting with this date Banca Transilvania S.A. also has control of O.C.N.
Microinvest S.R.L.. Through this acquisition, the Group strengthens its position on the
banking market in the Republic of Moldova.
The group acquired in November 2025 100% of the stake in BRD Societate de Administrare
a Fondurilor de Pensii Private S.A., thus obtaining control in this company. The acquisition
did not have a significant impact on the Group's financial position and performance.
BANCA TRANSILVANIA FINANCIAL GROUP
The BT Financial Group is the largest ecosystem dedicated to supporting Romanian
entrepreneurs, offering integrated services in banking, brokerage, investment
management, leasing, consumer financing and voluntary pensions. The Group’s structure
includes Banca Transilvania, as the parent company, along with its subsidiaries in Romania,
Italy and the Republic of Moldova. As of December 31, 2025, the BT Group had 13,361
employees (2024: 13,629 employees).
ROMANIA
Banca Transilvania S.A.
Banca Transilvania (BT) is the largest bank in Romania in terms of total assets.
Approximately 5 million customers use the services of Banca Transilvania. The Bank carries
out its banking activity through its head office located in Cluj-Napoca and 42 branches,
475 agencies, 3 work units, 8 healthcare division units, 2 private banking agencies in
Romania, 1 branch in Italy and 1 regional office located in Bucharest and 1 Head Office
located in Bucharest (December 31, 2024: 1 Head Office located in Cluj-Napoca, 42
branches, 457 agencies, 3 work units, 8 healthcare division units, 2 private banking
agencies in Romania, 1 branch in Italy and 1 regional office located in Bucharest, and 1 Head
Office located in Bucharest).
• The number of active employees of the bank as of 31.12.2025 was 10.180 (9,744 as
of 31.12.2024).
• Headquarters: Cluj-Napoca, 30-36 Calea Dorobanților Street, 400117.
• BT was founded in 1993 and the activity started in 1994.
The subsidiaries of BT Financial Group are the following, in which the bank has direct and
indirect participations:
Subsidiary
Field of activity
% of direct
and indirect
stake 2025
% of direct
and indirect
stake 2024
Victoriabank S.A.
Financial and banking activities and
investments subject to license
44.63%
44.63%
BCR Chișinău S.A.
Financial and banking activities and
investments subject to license
-
44.63%
BT Capital Partners S.A.
Investments
99.62%
99.62%
BT Leasing Transilvania IFN
S.A.
Leasing
100%
100%
BT Investments S.R.L.
Investments
100%
100%
BT Direct IFN S.A.
Consumer loans
100%
100%
BT Building S.R.L.
Investments
-
100%
BT Asset Management SAI
S.A.
Asset management
100%
100%
BT Solution Asistent în
Brokeraj S.R.L.
Insurance broker
-
100%
BT Asiom Agent de
Asigurare S.R.L.
Insurance broker
-
100%
BT Safe Agent de Asigurare
S.R.L.
Insurance broker
-
100%
BT Intermedieri Agent de
Asigurare S.R.L.
Insurance broker
-
100%
BT Leasing MD S.R.L.
Leasing
100%
100%
BT Microfinanţare IFN S.A.
Other lending activities
100%
100%
Improvement Credit
Collection S.R.L.
Activities of collection agents and
Credit reporting bureaus
100%
100%
VB Investment
Holding B.V.
Activities of holdings
61.82%
61.82%
BT Pensii S.A.
Pension fund management (except
for those in the public system)
100%
100%
Salt Bank S.A.
Financial and banking activities and
investments subject to license
100%
100%
Avant Leasing IFN S.A.
Financial leasing
-
100%
BT Broker de Asigurare
S.R.L.
Insurance broker
100%
100%
BTP One S.R.L.
Renting and subletting of own or
rented real estate
99.73%
100%
BTP STORE HUB TURDA
S.R.L.
Renting and subletting of own or
rented real estate
99.73%
100%
OTP Bank România S.A.
Financial and banking activities
-
100%
Inter Terra S.R.L.
Buying and selling of own real estate
99.73%
100%
OTP Advisors S.R.L.
Other activities auxiliary to financial
services, except insurance and
pension funding
-
100%
REA Project One Company
S.R.L.
Real Estate Development
-
100%
GOVCKA Project Company
S.R.L.
Real Estate Development
-
100%
OTP Consulting Romania
S.R.L.
Auxiliary Financial Intermediation
Activities, excluding insurancde and
pension funds
-
100%
Inno Investments S.A.I. S.A.
Asset Management
100%
100%
O.C.N. Microinvest S.R.L
Other lending activities
44.63%
-
BRD Societate de
Administrare a Fondurilor
de Pensii Private S.A.
Pension fund management (except
for those in the public system)
100%
-
The most relevant subsidiaries of the BT Group, in which the bank has direct participation:
Subsidiary
Activity
% Direct
Participation
% Total
Participation
BT Capital Partners S.A.
Investments
99.62%
99.62%
BT Leasing Transilvania
IFN S.A.
Leasing
65.25%
100.00%
BT Investments S.R.L.
Investments
100.00%
100.00%
BT Direct IFN S.A.
Consumer loans
98.68%
100.00%
BT Asset Management
SAI. S.A.
Asset management
100.00%
100.00%
BT Leasing MD S.R.L.
Leasing
100.00%
100.00%
BT Microfinanţare IFN S.A.
Other lending activities
67.80%
100.00%
Improvement Credit
Collection S.R.L
Activities of collection agents
and Credit reporting bureaus
99.89%
100.00%
VB Investment Holding
B.V.
Activities of holdings
61.82%
61.82%
Salt Bank S.A.
Financial and banking activities and
investments subject to license
99.69%
100.00%
BRD Societate de
Administrare a Fondurilor
de Pensii Private S.A.
Pension fund management
(except for those in the public
system)
99.09%
100.00%
Based on the concept of materiality, as defined in paragraph 7 of IAS 1, the Group has
decided to exclude several subsidiaries from the consolidation perimeter, as their exclusion
does not have a significant impact on the consolidated financial statements. The decision
to exclude them from consolidation is based on an assessment of both quantitative and
qualitative factors, including the size criteria of the subsidiaries and their insignificant
impact on the Group as a whole.
The list of subsidiaries excluded from the consolidation perimeter and the reasons for their
exclusion can be found in detail in Note 1 of the Consolidated and Individual Financial
Statements for the financial year ending December 31, 2025.
Assets and net profits of the most relevant subsidiaries in which the bank holds direct
participation:
Subsidiary
Total assets
(RON million)
Net profit
(RON million)
2025
2024
2025
2024
BT Leasing Transilvania IFN S.A.
6,786
6,169
379.8
193.0
Salt Bank S.A.
2,219
1,253
(244.5)
(152.5)
BT Microfinanţare IFN S.A.
1,563
1,218
88.5
72.3
BT Direct IFN S.A.
1,301
1,149
48.8
52.1
BT Capital Partners S.A.
1,245
880
37.8
25.5
VB Investment Holding B.V.
285
308
50.9
31.0
BT Asset Management SAI S.A.
296
189
49.1
37.5
BT Leasing MD S.R.L.
181
161
6.6
6.2
BRD Societate de Administrare a
Fondurilor de Pensii Private S.A.
128
-
(0.03)
-
BT Investments S.R.L.
103
103
(0.2)
3.1
Improvement Credit Collection
S.R.L.
40
35
15.3
12.6
OTP Bank S.A.*
-
16,750
-
48.9
BT Building S.R.L.
-
267
1.3
6.2
Note: Figures according to Individual Financial Statements
*OTP Bank S.A. took part in the consolidated BT Group financials statements reports starting September 2024 until February
28, 2025 when the merger with BT took place.
Salt Bank S.A.
Salt Bank is the first neobank developed entirely in Romania, a fully digital financial
institution that aims to redefine the interaction between the customer and banking
services. Launched in March 2024, the bank mainly addresses the mass affluent segment
and young professionals in urban areas, offering products and services exclusively through
a modern and efficient mobile application.
With the mission of representing "a leap in banking and a leap in technology, for those who
do not want to stay in their bank", Salt Bank aims to offer relevant financial solutions, built
around an intuitive platform, competitive products and a high level of security for customer
data and funds. All services are developed starting from three strategic pillars: simplicity
of use, product quality and operational safety.
Salt Bank pays special attention to the user experience, offering a clear, easy-to-navigate
digital interface, along with cards with distinctive designs. Customer support is managed
through a dedicated center – Care Center – where interactions are characterized by
professionalism, promptness and a communication style adapted to the brand's values. All
communication channels – from the app to customer service – are aligned to maintain a
coherent, modern and user-friendly identity.
The year 2025 had 3 strategic objectives: attracting customers, continuing to deliver new
functionalities and products to generate revenue, as well as starting cost control. To these
were added a series of quantitative objectives and qualitative objectives.
The product portfolio has experienced accelerated development since the bank’s launch in
March 2024 until now. This expansion of the offerings has directly contributed to the
increase in the number of customers and to the intensification of transactional activity
through the SALT mobile application.
Compared to the functionalities already launched the previous year, in 2025 the SALT
application added new ones such as:
• paying utility bills directly in the app (PayBill)
• Subscription Manager - service that provides information to customers about the
merchants with whom they save their cards/subscriptions
• road assistance
• Call Monitor – anti-fraud tool that provides the customer with the information of a
call from the bank
• consumer loans for individuals
• Help Mama - protection tool for senior customers
• sale of auto RCA insurance
• EUR and USD deposits for individuals
• top-up card via Google Pay and Apple Pay
• integration with Ropay (payments based on the beneficiary's phone number)
• investments in mutual funds, foreign equities, and traded investment funds (ETFs)
• instant receipts and payments in euros.
In addition to the above, if until 2024 the product offer was addressed only to individuals,
starting with 2025 SALT has also diversified its products towards the freelancer segment,
with a current account, business card, payment functions, integration with electronic
invoicing services and savings spaces.
Investments in mutual funds, stocks, and ETFs have become a central element in the bank's
service ecosystem. They provide customers with access to a diversified range of financial
instruments traded on international exchanges, updated in real time in the app,
strengthening Salt Bank's position as a provider of high value-added digital services.
In terms of the number of customers,
during 2025 Salt Bank almost doubled its
number of customers, reaching 742,000,
compared to 386,000 at the end of 2024,
which places Salt Bank in the top 10 credit
institutions in Romania by number of
customers.
Total assets as of 31.12.2025* are RON
2,219 million, up 77% compared to 2024.
* unaudited data
The volume of deposits and current
accounts held by the bank's customers
reached RON 1,779 million, representing
an increase of approximately 87%
compared to 2024.
Net loss after taxes for 2025: RON 244,5
million (RON 152,5 million in 2024).
The gross loan portfolio reached RON 397
million, with the bank's portfolio currently
including the personal loan product,
which has registered an accelerated
growth since its launch in April 2025.
Number of active employees as of
31.12.2025: 424 (320 as of 31.12.2024).
Security is integrated into the bank's technology architecture through robust measures
such as the one-device-one-customer model, additional passwords for high-value
transactions, exclusion of sensitive information from physical cards, blocking of
screenshots in the app, and additional functionalities such as Transaction Map and display
of the real business name for transactions. Salt Bank has assumed the objective of
introducing new functionalities annually that increase the level of protection or address the
needs of vulnerable categories of customers.
Salt Bank is a strategic project that demonstrates the innovation capacity of the Romanian
banking sector. Through its own technology, customer-centric solutions and a rigorous
approach to governance and safety, the bank is strengthening its position as an emerging
digital player, ready to meet the needs of a new generation of banking users and actively
contribute to the modernization of the financial market.
BT Capital Partners S.A.
BT Capital Partners (BTCP)
is the investment banking and capital markets division of Banca
Transilvania Financial Group. BT Capital Partners offers consulting services for fund raising
on the capital market, consultancy on mergers and acquisitions, brokerage services,
structuring of complex financing schemes, market research and strategic advisory. BT
Capital Partners is the only Romanian member of Oaklins, the world's most important
alliance of professionals for companies’ M&A.
During 2025, BT Capital Partners intermediated a series of bond issuances on External
Markets and on the Main Market of the Bucharest Stock Exchange, namely:
Issuance of MREL‑eligible bonds by Banca Transilvania SA, amounting to RON 1.5bn, with
a 7NC6‑year maturity, under the sustainable EMTN programme. The transaction was
completed in June 2025, with BTCP acting as Joint Lead Manager. The bonds are listed on
the Dublin Stock Exchange.
Inaugural green bond issuance by Societatea Energetică Electrica SA, totalling EUR 500
million, with a 5‑year maturity. The issuance took place in July 2025, and BTCP acted as
Joint Bookrunner. The bonds are listed on the Bucharest Stock Exchange.
Bond issuance by SNGN Romgaz SA, totalling EUR 500 million, with a 6‑year maturity,
executed under the company’s EUR 1.5 billion EMTN programme. The transaction was
carried out in October 2025, with BTCP serving as Joint Bookrunner. The bonds are listed
on the Bucharest Stock Exchange.
Bond issuance by Agroserv Măriuța SA, amounting to EUR 3 million, with a 3‑year maturity.
The issuance was completed in November 2025, with BTCP acting as Sole Manager. The
bonds are listed on the Bucharest Stock Exchange.
Inaugural AT1 bond issuance by Banca Transilvania SA, amounting to EUR 500 million, with
a PNC5.5 maturity, executed in November 2025, with BTCP acting as Joint Bookrunner.
BT Capital Partners also intermediated all 11 Fidelis government bond issuances of 2025,
which raised over RON 21 billion (in local currency and EUR) acting as the leader of the
consortium comprising BCR, BRD - Groupe Société Générale, TradeVille, and UniCredit.
Also, in 2025, BT Capital Partners acted as the exclusive M&A adviser to travel agency
Paralela 45 in attracting the strategic investor Rainbow Tours, one of the largest travel
agencies in Poland.
In 2025, BT Capital Partners was, for the second consecutive year, the largest broker on
the Bucharest Stock Exchange in terms of total value of intermediated transactions, holding
a market share of 28% across all markets and instruments. The company was also, for the
third year in a row, the leading intermediary on the main segment of the bond market, with
a market share of 35%, and the second-largest intermediary on the equity market, with an
approximate market share of 19%.
BT Capital Partners has been in the market since 2016, when BT Securities, the brokerage
company of the BT Financial Group, took over the investment banking activity of Capital
Partners, the most important Romanian independent consulting firm in the field of M&A and
Corporate Finance.
• BT Capital Partners has 66 active employees (2024: 59 employees) and 9 working
points as of December 31, 2025, in addition to its headquarters.
• Total assets as of December 31, 2025 amounts to RON 1,245 million (RON 880
million as of December 31, 2024), while the net profit stands at RON 37.8 million.
• Headquarters: Cluj-Napoca, 77 St.. 21 Decembrie 1989, The Office Building, Wings
C-D, Entrance C, 2nd Floor.
BT Asset Management S.A.I. S.A.
BT Asset Management (BTAM) manages undertakings for collective investment in
transferable securities (UCITS) and alternative investment funds (AIFs). The funds offer a
diversified range of investment products – fixed-income funds, bond funds, index funds,
and equity funds. During 2025, the management right of the BT Property Fund was
transferred to INNO Investments. Access to the capital market is provided to Fund
participants through investments both in Romania and abroad (Europe and the USA), using
placements in RON, EUR, USD and GBP.
At the end of 2025, the company managed 16 investment funds, consisting of 14
undertakings for collective investment in transferable securities (UCITS) and 2 alternative
investment funds (AIFs) (2024: 17 investment funds, consisting of 14 UCITS and 3 AIFs).
In 2025, BT Asset Management continued to play a central role in the Romanian investment
fund ecosystem, acting as a key driver of market development through its diversified fund
offering and disciplined management framework. The system experienced robust growth
in assets under management, reflecting rising investor confidence and an ongoing shift
toward professionally managed investment solutions:
Source: Romanian Fund Managers Association
• Number of active employees as at 31.12.2025: 47 (42 as at 31.12.2024)
• Year of establishment: 2005
• Headquarters: Cluj-Napoca, Emil Racoviță Street, no. 22, 1st floor
INNO Investments S.A.I. SA
INNO Investments (INNO) manages undertakings for Collective Investment in Transferable
Securities (UCITS) and Alternative Investment Funds (AIFs). The funds offer a diversified
range of investment products – fixed income funds, bond funds, equity funds and a real
estate fund. Access to the capital market is ensured to clients through investments in
Romania, Europe and the USA, in RON, EUR and USD.
• At the end of 2025, the company was fully integrated into the Banca Transilvania
Financial Group and the distribution of the funds managed by Inno was taken over
within the BT network starting with 03.03.2025;
• Since 08.10.2025, the management of BT Property Alternative Investment Fund was
taken over, with the aim of further developing the fund;
• During 2025 assets under management increased by 2%, reaching RON 598 million;
• Headquarters: Sos. Bucharest Ploiești, nr. 43, 2nd floor, sector 1, Bucharest,
Romania.
The year 2025 was a transitional year for Inno, the company assuming a new identity, as
well as a new strategic direction, that of and Alternative Investment Fund Manager, AIFM,
for which it also received the ASF authorization on 18.07.2025. With the takeover of BT
Property, Inno plans to expand the range of products offered to clients by including other
alternative investment funds, aligned with the Group's strategic direction and to facilitate
the access of capital to Romanian entrepreneurs.
BT Pensii
BT Pensii (BTP) manages the voluntary pension funds
Pensia Mea and Pensia Mea Plus
. BT
expanded its financial services in the field of private pensions through the acquisition of
Certinvest Pensii in 2019, and Certinvest Pensii became BT Pensii in June 2020. In 2025,
BT Pensii took also the administration of the voluntary pension fund Pensia Mea Plus, from
BRD Pensii.
• It is the only Romanian company managing voluntary pensions.
• Banca Transilvania’s clients have the opportunity to contribute to voluntary pension
funds Pensia Mea and Pensia Mea Plus funds through Banca Transilvania branches
and agencies, and from 2025 through BT Pay
• At the end of 2025, the number of participants in the Pensia Mea fund increased to
173,238, an increase of 80.8% compared to the previous year. Assets under
management reached RON 483 million, with a growth of 66.1% in 2025.
• In a continuously expanding market, BT Pensii reached, at the end of 2025, a total
number of 213,801 participants across its two administered voluntary pension funds,
and the value of the assets under management is RON 791 million.
Source: Financial Supervisory Authority
• The increase of more than 77,000 participants within a single year is a premiere in
the voluntary pensions market, unmatched by any other voluntary pension fund
throughout the market’s history of over 18 years.
Source: Financial Supervisory Authority
• In 2025, 1 of 2 people who decided to save for their future pension through a
voluntary pension fund chose
Pensia Mea or/and Pensia Mea Plus
fund.
• The value of monthly contributions to the administrated funds reached RON 17
million in December 2025, compared to RON 9 million in December 2024.
• Headquarters: București, 75-77 Buzești Street, 5th floor.
BT Leasing Transilvania IFN S.A.
BT Leasing offers in leasing a wide range of vehicles, production equipment and other
type of equipment.
• Number of active employees as at 31.12.2025: 341 (326 as at 31.12.2024)
• Number of active clients: 46,800 (31.12.2025), up by 16% compared to previous year
• Total assets as of 31.12.2025 amounts to RON 6,786 million and net profit to RON
380 million
• BT Leasing is one of the leading players in the Romanian leasing market, with a
market share of 25.5% in 2025, up from 21.8% in 2024.
• Gross loan portfolio reached RON 6,391 million, increasing by 10.5% compared to
the previous year.
• Year of establishment: 1995.
• Headquarters: Cluj-Napoca, 77 21 Decembrie 1989 Boulevard, The Office Building,
Blocks C–D, 2nd Floor and Ground Floor
BT Broker de Asigurare
BT Broker de Asigurare provides insurance brokerage and advisory services, offering
clients integrated financial protection solutions tailored to both individuals and companies.
An essential role in BT Broker’s insurance distribution is supported by its partnership with
BT Leasing. This integrated model enhances distribution efficiency and delivers a
comprehensive customer experience through complementary services and relevant
solutions throughout the entire duration of the leasing contract.
BT Broker is the market leader in CASCO distribution, a position that confirms its expertise
and operational capabilities in products associated with the automotive industry and
leasing financing.
BT Broker continues to invest in the professional development and expansion of its team
to support the growth in operational volumes and ensure high‑quality customer
interactions.
• Number of active employees as at 31.12.2025: 45 (41 as at 31.12.2024)
The positive trend in staffing reflects both the expansion of operational activities and the
need to efficiently cover sales and support channels. The sustained growth of the team
contributes to maintaining quality standards and strengthening organizational capacity in
the context of business expansion.
Net profit and turnover recorded significant increases in 2025, reflecting improved
operational efficiency and growth in business volumes.
BT Microfinanţare IFN S.A.
BT Microfinanțare (BT Mic) is a non-banking financial institution dedicated to financing
small businesses, including start-ups, which complements the role of Banca Transilvania in
supporting the Romanian entrepreneurs. It addresses those entrepreneurs with a turnover
of up to RON 1 million, regardless of the field of activity and legal form.
BT Microfinanțare is the largest
microfinance company in Romania, with a
market share of approximately 52% of
the microfinance market by assets. In
2025, the growth of assets, respectively
loans portfolio was 28%.
The company works with over 26,000 small businesses in 4,000 municipalities, to support
and develop the daily activity, purchase of goods, payment of suppliers, investments in
work points and/or opening new ones, the purchase of machines/equipment, etc.
• In 2025, over 11,000 micro-companies received financing from BT Microfinanțare
IFN S.A.
• Diversification of financing: the company supports over 420 types of activities
• Number of active employees as at 31.12.2025: 372 (308 as at 31.12.2024)
• BT Microfinanțare was founded in 2016
• Headquarters: Bucharest, 206 Calea Șerban Vodă
BT Direct IFN S.A.
BT Direct is a company designed to provide consumer loans to individual customers.
• BT Direct has 269.165 customers, 230.624 credit cards and 11.6% market share
(30.09.2025).
• On April 28, 2011, the company obtained, from the NBR, the Payment Institution
authorization, Series IP, no. 004, in accordance with the stipulations of Emergency
Ordinance no. 113/2009, regarding payment services ("GEO 113/2009") and BNR
Regulation 21/2009, in order to lend to credit cards individuals.
• BT Direct and ERB Retail Services IFN S.A. merged by absorption on August 1, 2019,
and the name BT Direct IFN S.A. has been preserved. ERB Retail Services was
acquired by Banca Transilvania from Eurobank Group in 2018, together with
Bancpost and ERB Leasing.
• Number of active employees as at 31.12.2025: 217 (205 as at 31.12.2024)
• Total assets at 31.12.2025 reached RON 1,301 million (RON 1,149 million at
31.12.2024) and the net profit is RON 48,8 million.
• Gross loan portfolio reached RON 1,447 million as of December 31, 2025 (RON 1,241
million as of December 31, 2024).
• Throughout 2025, the company expanded and consolidated its presence in the
medical services sector by providing financing solutions tailored to the needs of
patients in partner clinics and hospitals.
• Headquarters: Cluj-Napoca, 21 Decembrie 1989 Boulevard, No. 77, The Office,
Building C-D, ground floor.
Improvement Credit Collection S.R.L.
Improvement Credit Collection (“ICC”), established in 2013, carries out debt recovery
activities, both through judicial and extrajudicial procedures.
Starting January 1st, 2026, the company operates through the following locations:
• Headquarters: Cluj-Napoca, 21 Decembrie 1989 Boulevard, no. 77, The Office,
Building C D, ground floor;
• Secondary office (work point): Bucharest, Gara Herăstrău Street no. 4, Green Court
A Building, 11th floor, Sector 2.
ICC provides integrated debt recovery services, both for its own portfolios and for its
clients, covering the full range of industry specific activities, in compliance with current
legislation:
• Recovery of receivables from individuals and legal entities through:
o Amicable phase debt collection,
o Legal phase debt collection,
• Efficient management of debt portfolios.
The company operates in full compliance with regulatory standards, operational
efficiency principles, and industry best practices.
For 2025, ICC recorded the following results:
Throughout 2025, ICC played an active role in projects carried out at Group level,
contributing significantly to:
• The acquisition and management of non-performing loan portfolios of debtors and
clients of OTP Bank S.A.,
• The optimization of operational processes through interdepartmental coordination
and the implementation of common working standards.
This involvement further strengthened ICC’s position within the Group and supported the
efficiency of debt recovery processes at national level.
According to data provided by TOP 100 Companii România | Informații financiare companii
| top100companii.ro, within its specific activity segment ICC achieved:
• A benchmark score higher than 71.63% of companies in the industry;
• A rating equivalent to Score Class A – High Score.
Additionally, according to the same study, based on official financial reports submitted to
the Ministry of Finance for 2024, ICC ranks in the Top 10 companies in Romania under
CAEN code 8291 – Activities of collection agencies and credit reporting bureaus,
occupying:
• 2
nd
place in profitability, with a profitability level 1,200% above market average (EUR
211,000);
• 8
th
place in turnover, with EUR 5.4 million, representing 312% above market average
(EUR 1.7 million);
• 2
nd
place in operational efficiency and productivity, with EUR 36,000
profit/employee, 440% above market average (EUR 8,000);
• 2
nd
place in the Cost to Income indicator, with 50%, a level 36 percentage points
better than the market average (86%).
REPUBLIC OF MOLDOVA
B.C. Victoriabank S.A.
Victoriabank is the third-largest bank in the Republic of Moldova. Since 2018, the bank has
benefited from being part of Banca Transilvania Group, providing its clients with financial
advantages resulting from group synergies and contributing to financial integration.
• Net profit as of 31 December 2025 amounted to RON 193 million, up by 24.2%
compared to 2024.
• Over 364,000 active clients work with Victoriabank, and the team counts more than
1,200 employees as of 31 December 2025
• Total assets as of 31 December 2025 amounted to RON 8,118 million
• Gross loan portfolio granted to clients reached RON 3,246 million, increasing by
37.1% over the year
• The deposit portfolio from clients amounted to RON 5,723 million, up by 24.7%
compared to the end of 2024.
• For the second consecutive year, Victoriabank paid dividends, amounting to over
RON 75 million in 2025.
• The total own funds stand at 29.43%, above the banking sector average and the
highest among the top four banks.
• In March 2025, Victoriabank completed the merger with BCR Chișinău — an
important step in strengthening its market position and a first on the banking market
in the Republic of Moldova.
• In October 2025, the acquisition of Microinvest, the leading non-banking lending
organization (NCO) in the Republic of Moldova, was finalized.
• The bank has 67 branches in 24 localities in the Republic of Moldova;
• Victoriabank is listed on the Moldova Stock Exchange and is the first commercial
bank in the Republic of Moldova;
• Year of establishment: 1989;
• Headquarters: Chișinău, 141, 31 August 1989 Street.
BT Leasing MD S.R.L.
BT Leasing MD is the first company established by Banca Transilvania Financial Group in
the Republic of Moldova. Founded in 2008, BT Leasing MD is the market leader, ranking
first for the past 9 consecutive years, with a market share of approximately 35%.
The company offers advantageous financing solutions both for individuals and for
commercial companies in the Republic of Moldova.
In partnership with Victoriabank, a member of the Banca Transilvania Financial Group, it
promotes the entrepreneurial spirit and supports entrepreneurs, who represent
approximately 70% of the company’s portfolio.
• Net Profit: RON 6.6 million in 2025
(RON 6.2 million in 2024)
• Total assets: RON 181.4 million in
2025 (RON 160.8 million in 2024)
• Gross leasing portfolio: RON 178.1
million (RON 156.2 million in 2024)
• Non-performing loans as at
31.12.2025: 0.88% (2024: 1.29%)
• Active clients as at 31.12.2025: 1,479
• Active contracts as at 31.12.2025: 2,069
• Financing options: MDL and EUR
• 89.25% of the balance of active leasing transactions are without outstanding
payments (31.12.2025)
• Year of establishment: 2008
• Number of active employees as at 31.12.2025: 42 (44 as at 31.12.2024)
• Headquarters: 60/2 Pushkin Street, Chișinău, Republic of Moldova
O.C.N. Microinvest S.R.L.
Microinvest is a non-bank financial institution operating in the Republic of Moldova. With
over 22 years of experience, the Company plays a significant role in the local financial
market, providing tailored lending solutions to businesses, farmers, and individuals, and
thereby contributing to economic and social development. By focusing on SME financing
and maintaining a high-quality portfolio, Microinvest supports the development of a more
resilient and inclusive financial system in the Republic of Moldova.
In a competitive market environment, Microinvest distinguishes itself as a responsible,
prudent, and transparent lender. Over the years, the Company has consolidated its position
as a market leader and a trusted brand in Moldova’s financial sector. As of the end of Q3
2025, Microinvest held a 40.3% market share among non-bank financial institutions and
ranked fifth among the largest financial institutions in the country (including commercial
banks and NBCOs) by portfolio size, with a 6.0% share of the total market.
As of the end of 2025, Microinvest reported a loan portfolio of RON 1.9 billion, underscoring
its strong market position and capacity to generate meaningful economic impact.
Approximately 58% of the portfolio is allocated to business clients, of which 36% supports
the agricultural sector. Microinvest serves over 49,500 active clients – legal entities,
entrepreneurs and individuals – through a team of 363 employees, including its subsidiary
- Microinvest Technology S.R.L., and a network of 17 branches across the country.
Microinvest collaborates with 20 international reputable funding partners, including FMO,
PROPARCO, EBRD, EFSE, GGF, among others.
Microinvest is the only financial institution in the Republic of Moldova holding the GOLD
international certification for client protection, reflecting its commitment to transparency
and responsible finance. At the same time, the Company is strengthening its capabilities in
financial technology by expanding digital lending services, with over 25% of its active client
base currently using digital channels.
AWARDS AND RECOGNITIONS – VALIDATING A HIGHLY DYNAMIC YEAR
Awards and recognition
From
Details
Banca Transilvania
Moody’s upgraded BT’s long-term
deposit ratings to “Baa1” and its
short- and long-term issuer ratings
Moody’s
Moody’s Ratings has upgraded
Banca Transilvania’s issuer and
deposit ratings
Fitch Ratings affirms Banca
Transilvania's long-term issuer rating
at "BBB-" and its viability rating at
"bbb-"
Fitch
Ratings
Fitch affirms Banca
Transilvania's ratings
• TLV: The most traded stock on the
BSE regulated market in 2025
• Issuer with the highest liquidity
growth in 2025
Bucharest Stock
Exchange
Bucharest
Next to come
Banca Transilvania brand is the third
most valuable brand in Romania,
reaching EUR 856 million
Brand Finance
The value of the Banca
Transilvania brand has increased
by 34%
Top of the most valuable companies
in Romania
Ziarul Financiar
ZF Gala 27 years. Ziarul Financiar
awarded the most valuable
companies in Romania. The top
10 companies in the economy
have a cumulative value of over
EUR 62.9 billion, +14% compared
to last year
Maximum VEKTOR rating for BT's
communication with investors and
shareholders for the seventh
consecutive year
Romanian Investor
Relations
Association (ARIR)
BT obtains the maximum rating
for its communication with
investors in 2025, both as a stock
and bond issuer
• Best Investor Relations Program
• Best CEO: Ömer Tetik
• Best Chief Financial Officer:
George Călinescu
• Best Investor Relations
Representatives: Aurel Bernat
(Executive Director of Financial
Institutions and Investor Relations,
BT)
• Best Investor Relations
Professionals
• Aurel Bernat (Executive Director of
Financial Institutions and Investor
Relations, BT)
• Diana Mazurchievici (ESG
Integration & Investor Relations
Director, BT)
• Best Performance in ESG &
Communication
• Best Investor Relations Platform:
Investor Relations
• Best Investor Relations Event:
Investor Day
• Best Annual Report: Board of
Directors Report
Romanian Investor
Relations
Association (ARIR)
Banca Transilvania, awarded for
the activity in investor relations
Excellence Award for Outstanding
Strategic Growth
Financial
Intelligence
Financial Intelligence: Hall of
Fame Awards Gala
BrandRO Heritage Award
Biz Magazine
The BrandRO 2025 Gala awarded
the strongest Romanian brands
Bank of the Year
Financial Market
The 30th edition of the Financial
Market Awards Gala, at the Mitiță
Constantinescu Hall, the National
Bank of Romania
Award for the best return on assets
and equity (ROA and ROE)
FINMEDIA and
Financial Market
Top Bankers 2025 Awards Gala
Third highest score for the 2025
Sustainability Report
The Azores
Sustainability & CSR
Services & Allies for
Sustainability
Outstanding Women's Network of the
Year
Romanian Diversity
Chamber of
Commerce
How Romania’s First Diversity
Awards Are Rewriting the Rules
of Business Success
Recognition for ESG risk mitigation
(Rating 14.9)
Sustainalytics
BT has the best ESG Risk Rating
in the last three years
Gold Recognition
• Category: Mentoring, Leadership &
Non-Formal Education
• Dar Scholarships Project - Hope
and Homes for Children
• Category: Education for students
• What's Next Project – Salvați
Copiii Romania
Community Index
Community Index: Investing in
People & Planet
BT Asset Management
Best performing local investment
fund: BT Technology
Bucharest Stock
Exchange
Bucharest
Next to come
• Award for the best performing
foreign equity fund: BT Index
Austria – ATX
• Award for the fund with the
highest number of investors: BT
Fix
• Award for Best Young Fund
Manager: Alexandru Tudor
Romanian Fund
Managers
Association (AAF)
Investment Funds Market in
October 2025
Company of the Year Romania 2025
Global Banking &
Finance Awards
Global Banking & Finance Awards
Best investment fund: BT Clasic
Financial Market
Financial Market Awards Gala,
30th edition at Mitiță
Constantinescu Hall, National
Bank of Romania
BT Broker
• Award for Performance in Vehicles
Insurance Brokerage
• Award for Performance and
Dynamism
Xprimm Media
2025 Insurance Brokers Awards
BT Capital Partners
Most Active Intermediary in the Bonds
Segment
Bucharest Stock
Exchange
Bucharest
Next to come
• Best securities brokerage
company in Romania 2025
• Best research company in
Romania 2025
• Best Trading Platform in Romania
2025
Global Banking &
Finance Awards
Global Banking & Finance Awards
Best Broker in the Capital Market
Financial Market
Financial Market Awards Gala,
30th edition: Mitiță
Constantinescu Hall, the National
Bank of Romania
BT Leasing
Company of the Year in Financial
Leasing
FINMEDIA and the
Financial Market
Romanian Leasing Gala 2025
Improvement Credit Collection
First place in the National Top in the
Medium-Sized Enterprises section in
"Services" in the CAEN code group
Romanian Chamber
of Commerce and
Industry
National Top Companies Gala
INNO Investments
Most Innovative Fund: OTP Innovation
Romanian Fund
Managers
Association (AAF)
Investment Funds Market in
October 2025
Consistent performance in real
estate: BT Property
Bucharest Real
Estate Club (BREC)
Brec Awards 2025: Special
Award & Strategic Investments
Award
Victoriabank
Top Employer 2025, for the fifth
consecutive year
Axa Management
Consulting
Victoriabank, named Top
Employer in 2025 for the fifth
consecutive year
Both the Group and Banca Transilvania remain committed to supporting their customers
and to being a reliable partner in fostering economic growth, in line with their role as a
multinational entity and as Romania’s leading bank. The year 2025 was marked by
numerous challenges, characterized both by acquisitions and integration processes, as
well as by strong organic growth. The separate and consolidated financial statements are
prepared in accordance with the International Financial Reporting Standards adopted by
the European Union (NBR Order no. 27/2010, as subsequently amended and
supplemented).
BT STRATEGY IN 2025 – EXECUTION, RESULTS, IMPACT
STRATEGY ACHIEVEMENT IN 2025
Our goals for 2025 included the following qualitative objectives:
• Maintaining our position as the largest lender in Romania through organic growth
and maintaining our interest in acquisitions or mergers with entities that can bring
further growth opportunities. 2025 will have as priority integration of OTP
customers within the BT Group, with focus on smooth transition and high-quality
client service.
• Supporting lending and the development of the Romanian economy in the coming
period, with focus on sectors that are of strategic importance at national level, such
as infrastructure, healthcare, agriculture, education, energy or areas that are
addressed by local and European strategic priorities. BT continues to sustain the
growth of business of all sizes, from entrepreneurs to Large Corporates. At the
same time, BT will remain a reliable partner for national and European programs and
will sustain companies and projects that can drive an accelerated absorption of
European funds.
• Consolidating the position of top player in all business segments: leasing, asset
management, financial intermediation, etc. and increasing synergies between group
companies to offer our customers improved client experience and a fully equipped
financial ecosystem.
• Continue our ESG initiatives to contribute to a sustainable development of the
Romanian economy.
• Digital: continue our focus on streamlining and automating operations and
processes, both in BT and its subsidiaries, to the benefit of our customers, through
constant investments in technology and IT infrastructure. Offering secure, resilient
and reliable platforms and fast adaptation to local needs and wants of our
customers are among our top priorities in terms of operating model.
• Sustain the consolidation of the first 100% digital bank in Romania to implement new
features, offer a wider range of products and ensure a secure, yet accessible
banking experience to Salt Bank customers.
Quantitative objectives
• Total assets: +13.9% growth, out of which BT’s organic growth 8%
• Total gross loans: +19.3% growth
• Total deposits from customers: +13.4% growth, out of which BT’s organic growth
expected 6%
• Cost/Income ratio: 45.4%
• Loans/deposits: 60.8%
Qualitative objectives achieved
In 2025, Banca Transilvania maintained its leadership as Romania’s largest lender through
a combination of strong organic growth and a dynamic M&A agenda culminating in: the
record‑time merger with OTP Bank Romania completed in less than seven months from
closing. This integration added ~130,000 new customers, while expanding BT’s presence
especially in Bucharest and central Romania. Throughout the year, BT delivered a smooth,
high‑quality transition for OTP clients – supported by bilingual services and a dedicated
“Hungarian Desk” – so that service continuity and client experience remained front and
center. The M&A activity included the successful merger of Victoriabank with BCR Chisinau
in the same month with the OTP Bank merger, completing the transaction of BRD Pensii,
both Pillar 3 and Pillar 2, and acquiring the largest non-banking financial institution in
Moldova, Microinvest, through Victoriabank. These steps alongside sustained organic loan
growth, reinforced BT’s leadership in the Romanian banking system and its role as the main
financier of the Romanian economy. In addition, despite being a high growth company with
significant merger and acquisition activity and ongoing integrations over the last years, BT
has remained focused on customer satisfaction: based on independent studies, Banca
Transilvania ranks first in terms of customer satisfaction among large banks in Romania,
with 12 points above the market average (NPS – Net Promoter Score) of 52 points.
Customers appreciate the quality of products and services, the professionalism of the
team, and the infrastructure that makes banking easier.
With reference to the lending activity, BT delivered above-market growth of 22.6% in terms
of gross loans, particularly driven by new production higher than in 2024 and increase in
the number of active customers across segments. Even excluding the OTP portfolio, the
organic growth of the portfolio was +12.8% in case of retail loans (above the sector average
growth of 8.3%) and +11.8% in case of loans granted to companies (above the sector
average growth of 3.5%).
BT sustained the growth of businesses of all sizes – from population to entrepreneurs and
SMEs to Large Corporates – through robust organic loan production (RON 21.1 billion in new
loans to companies and RON 12.9 billion in retail lending). By acting as a partner in
state‑guaranteed programs like IMM Invest Plus and the dedicated Farmers’ Loan, by
continuing to back projects capable of accelerating EU funds absorption and by enhancing
its broader capabilities in syndicated financing BT continued to support the strategic
investments across Romania’s priority sectors. Specifically, in 2025 BT was the main bank
in project and infrastructure financing and one of the leading banks in the syndicated loan
market, actively participating in the most significant lending projects implemented in
Romania. In healthcare, BT’s market share in opened accounts consolidated to 45% (from
40% as of 31 December 2024), while reaching to 26% market share in agriculture (from 21%
as of 31 December 2024). As of 31 December 2025, BT has ~70 thousands customers in
these two critical sectors.
In 2025, Banca Transilvania consolidated its top‑tier position across all major financial
segments –leasing, asset management, and financial intermediation– while deepening
synergies across the BT Group to deliver a cohesive, high‑quality client experience and a
fully equipped financial ecosystem.
• BT Leasing remains one of the most important players on the leasing market in
Romania, increasing their net profit by 97% compared to 2024 and their total
assets by 10% compared to prior year. Having one of the most active M&A profiles
on the leasing market, BT Leasing has boosted scale and reach in equipment and
vehicle financing.
• In 2025, BT Asset Management added significant depth to BT Group’s investment
and savings offering, increasing their assets under management by 48.5% and
reaching more than 420,000 investors (+66% versus prior year).
• BT Group reinforced its brokerage and capital markets footprint via BT Capital
Partners, which ended 2025 as #1 at the Bucharest Stock Exchange by trading
volumes (28% market share).
• BT Mic holds the leading position in microfinance, with a market share of 52%.
• BT Direct posted 13% growth in total assets versus prior year.
• The subsidiaries in Moldova, taken together, are also making an increased
contribution at the consolidated level both in terms of assets and profitability,
consolidating their footprint across the full range of financial services.
These moves enabled BT to orchestrate cross‑business journeys – from banking to leasing,
pensions, asset management, e‑commerce acquiring and beyond – so customers benefited
from unified digital apps (BT Pay, BT Go), broader product choice, and seamless service
across channels. The result is a stronger multi‑segment market leadership and tighter
Group synergies, all oriented toward elevating customer experience and making BT’s
financial ecosystem the most complete in Romania.
Banca Transilvania continued to advance ESG initiatives that support Romania’s
sustainable development – by scaling green finance, embedding responsible practices
across the Group, and partnering on programs that accelerate the country’s climate and
social priorities.
• BT has further raised its green‑lending target to companies to RON 6.5 billion for
2025–2028, after reaching RON 2.15 billion in green financing (+20% as compared
with prior year). The green loan production in 2025 was predominantly allocated to
green building projects (RON 938 million), renewable energy (RON 859 million), and
dedicated climate initiatives (RON 320 million), RON 130 million in energy efficiency
projects, RON 33 million in blue finance projects and RON 13 million in clean
transportation projects.
• In 2025 BT originated approximately 3,500 green mortgages, totaling RON 1.2 billion
(+142% as compared to 2024), accounting for 8.48% of total mortgage production
in 2025 (versus 5.27% in prior year). The outstanding green loan portfolio to retail
segment amounts to RON 2.94 billion (+30% versus prior year).
• In 2025, BT Leasing financed the acquisition of more than 9,500 hybrid and electric
vehicles Leasing, with total financing of approximately RON 1.9 billion, (+54% as
compared with 2024). As of 31 December 2025, around two-thirds of BT Leasing’s
financed portfolio consists of hybrid or electric vehicles.
• During 2025, Banca Transilvania issued its third sustainable bond in a row, reaching
a portfolio of EUR 1.5 billion of sustainable bonds, a premiere for the CEE region. The
sustainable bond issuance activity continues to channel funding into renewable
energy, green buildings, clean transport, healthcare, education, and MSME
inclusion—helping to deliver measurable environmental and social outcomes while
supporting Romania’s long‑term transition. BT published the second edition of its
Impact and Allocation Report in June 2025.
• Over 380 community projects, run by over 350 partners, were supported by BT. The
total investment in CSR projects amounted to RON 87 million.
• Through the BT Pay app our customers donated over RON 2 million to sustain
different CSR causes
• Some of the most prominent projects in 2025 carried by Banca Transilvania were:
“FIT – Finanțe pe înțelesul tuturor” (financial education), “Stai un pic înainte de click”
(online security), “Via Transilvanica” (promoting Romanian tourism).
• BT continued to be a supporter of major cultural and sports events from Romania
during 2025.
• BT’s reporting under CSRD/ESRS standards strengthens Group’s transparency and
impact measurement.
These actions underpin strong ESG ratings provided by Sustainalytics, FTSE Russell, CDP,
Refinitiv and CST index. Even more so, they portray BT’s role as a catalyst for a more
resilient, low‑carbon economy serving people and businesses across Romania
For further details related to ESG developments and initiatives, please see the enclosed
Sustainability Statement.
In 2025, Banca Transilvania sustained its digital‑first operating model with continuous
investments in technology and IT infrastructure to streamline and automate processes
across the bank and its subsidiaries, improving speed, reliability and security for
customers. The year saw faster processing and scale:
• 4.9 million digitalized unique clients (+11% as compared with prior year),
representing 98% of active clients.
• The number of cards in the portfolio reached 8.1 million (7 million as of 31 December
2024), and the number of card transactions increased by 19% in 2025 compared to
2024.
• The number of mobile payments increased significantly in 2025 (29% as compared
with prior year), with every second card being NFC, while the number of electronic
transfers increased three times in 2025 compared with 2024.
• A solid performance was recorded for acquiring terminal solutions that increased
2.6 times versus prior year, while the websites allowing Pay with BT Pay reached an
impressive number of over 30 thousand, in the context of 98% of cards transactions
being done for purchases.
• 80% of savings are exclusively digital.
• 78% of Chat BT interactions are fully AI based.
• The volume of transfers in BT Pay increased by 70% in 2025 compared to 2024.
• After integrating the investment funds managed by BT Asset Management in the
mobile application, 90% of the new investments are made via BT Pay.
• More than 544 thousand customers (+260% versus prior year) are enrolled in BT GO
ordering transactions and payments worth over RON 351 billion, out of which 57%
are via the mobile version.
• ~ 159 thousand E-factura were issued in 2025, four times higher than in 2024.
While BT expanded access to resilient, feature‑rich platforms such as BT Pay (retail), BT
Go (corporate), and BT Visual Help (guided self‑service), the focus was put on the
customers’ tailored experiences for local needs (e-factura, access to local index funds and
Pillar 3 pension funds, management bill payments issued by local utilities providers, access
to insurance, top-ups etc.). The strong customer satisfaction proved in recent independent
NPS surveys is testament that enriching digital solutions meets the customers’ demands.
These digital capabilities underpin BT’s ability to adapt quickly to market demands, keep
platforms secure and reliable, and deliver consistent, high‑quality service across its
enlarged ecosystem.
In 2025, BT consolidated Romania’s first 100% digital bank – Salt Bank. The neobank
accelerated feature releases, broadened the product set, and kept the experience secure
yet easy to use for its fast‑growing customer base. Launched in April 2024 and built in the
cloud on Engine by Starling, Salt surpassed 500,000 customers after its first year of
operation and reached 700,000 by the end of 2025, while developing new features for its
mobile app, with round-the-clock support and excellent uptime. The app added tools like
Subscription Manager, PayBill, AutoSaver, multi‑currency cards (17 currencies),
investments, and fraud‑prevention features, while sustaining a 24/7, human‑led Care
Center to keep digital banking accessible and trusted. This scale‑up has been recognized
with multiple awards (including Celent’s 2025 Model Bank and FinTech Breakthrough’s
2025 Best Digital Bank), and BT’s continued investment focus ensures Salt’s platform
remains secure, resilient, and ready to adapt quickly—with a clear roadmap to expand
products further and reach 1 million+ customers.
Quantitative objectives
Ratio
Proposal
Achievements
Total assets
RON 209.9 billion, increasing
by 13.9% vs. 2024
RON 210.4 billion, increasing
by 14.2% vs. 2024
Net profit
RON 3,918 million
RON 4,095 million, higher by 16%
vs. 2024
Deposits from
customers
RON 170.9 billion, increasing
by 13.4% vs. 2024
RON 168.9 billion, increasing
by 12% vs. 2024
Loans to customers
(gross)
RON 103.9 billion, increasing
by 19.4% vs. 2024
RON 105.6 billion, increasing
by 22.6% vs. 2024
Equity
RON 16.3 billion
RON 20.1 billion, an increase
of 41.3% vs. 2024,
attributable also to BT’s first
AT1 issuance of EUR 500
million
C/I Ratio
45.4%
44.4%
(39.4% excluding the effect
of turnover tax)
Loan / Deposit ratio
60.8%
62.6%
Investment budget
RON 843 million (VAT
included)
RON 666 million (VAT
included)
FINANCIAL POSITION OF BANCA TRANSILVANIA AND BT FINANCIAL GROUP
Banca Transilvania ended the year 2025 with total assets amounting to RON 224,414
million at consolidated level, up by 8.4% compared to 2024, and RON 210,398 million at
bank level, up by 14.2%, slightly exceeding the individual budget by 0.2%.
Financial position at the end of 2025:
BANK
GROUP
RON Million
Realized
2025
Budget
2025
Realized
2024
Δ
2025/
2024
Realized
2025
Realized
2024
Δ
2025/
2024
(1)
(2)
(3)
(4)=(1)/
(3)-1
(5)
(6)
(7)=(5)/
(6)-1
Cash and cash
equivalents with the
Central Bank
23,224
17,598
16,908
37.4%
25,499
21,950
16.2%
Placements with
banks and public
institutions
14,476
14,238
13,612
6.3%
16,552
13,715
20.7%
Loans and advances
to customers
105,631
103,880
86,182
22.6%
113,344
101,976
11.1%
Provisions for loans
and advances to
customers
(5,940)
(5,883)
(4,792)
24.0%
(6,634)
(5,606)
18.3%
Portfolio of debt
instruments, equity
instruments, and
derivatives, net of
provisions
66,541
74,246
64,717
2.8%
69,208
68,410
1.2%
Fixed assets
4,175
3,278
4,991
-16.4%
3,755
3,395
10.6%
- Tangible, intangible
assets and assets
related to the rights of
use
2,801
2,346
2,346
19.4%
3,726
3,372
10.5%
- Shareholdings
1,373
932
2,645
-48.1%
29
23
23.8%
Other assets
2,291
2,579
2,645
-13.4%
2,690
3,195
-15.8%
Total assets
210,398
209,936
184,264
14.2%
224,414
207,035
8.4%
Equity
20,092
16,261
14,219
41.3%
23,298
17,437
33.6%
Subordinated loans
2,466
2,405
2,405
2.5%
2,643
2,531
4.5%
Deposits from
customers
168,862
170,879
150,785
12.0%
175,250
167,869
4.4%
Deposits from banks
14,925
15,242
12,383
20.5%
17,425
13,189
32.1%
Other liabilities
4,053
5,149
4,471
-9.4%
5,798
6,010
-3.5%
Total Liabilities and
Equity
210,398
209,936
184,264
14.2%
224,414
207,035
8.4%
*Due to rounding, the numbers presented in this document may not add up exactly to the total presented and the percentages
may not accurately reflect absolute numbers.
The Bank’s market share in terms of assets is of 22% as at December 31, 2025.
Gross loans/deposits ratio (31.12.2025)
The gross loans‑to‑deposits ratio stood at 64.7% at Group level, up by 3.9 percentage
points compared to the end of 2024. At Bank level, the indicator increased to 62.6%, with
5.4 percentage points above the December 2024 level, development driven both by the
acquired portfolios and by organic growth supported by strong loan demand.
14%
15%
16%
17%
18%
19%
20%
21%
22%
23%
2020 2021 2022 2023 2024 2025
Market share
31.12.2025
Market share BT Total Assets Market share BT Loans Market Share BT Deposits
54%
58%
56%
57%
63%
50%
52%
54%
56%
58%
60%
62%
64%
-
20
40
60
80
100
120
140
160
180
2021 2022 2023 2024 2025
Gross loans/deposits
2021-2025
Loans Deposits Loans/Deposits
Loan portfolio (31.12.2025)
• The gross loan portfolio at Group level reached RON 113,344 million at the end of
2025, an increase of 11.1% compared to 2024. The Bank’s gross loan portfolio was
22.6% higher than at the end of 2024, a growth supported both by the merger with
OTP Bank and by the strong financing demand from companies and individuals. This
performance was recorded despite the fact that, in 2025, loans amounting to
approximately RON 167 million were written of from the balance sheet, a level similar
to the previous year.
• The gross value of loans and leasing receivables at the time of the acquisition of
O.C.N. Microinvest S.R.L. amounted to RON 1.84 billion.
• Increasing the quality of the loan portfolio as measured by the non-performing loan
rate according to the EBA AQT_3.2. is at 2.40% at the end of 2025, slightly higher
than the level of 2.07% recorded at the end of 2024, but below the level of 2.69%
NPL rate of the Romanian banking system as communicated by the National Bank
of Romania.
Expected credit loss balance (31.12.2025)
• The total balance of expected credit losses from lending activities at Group level
amounted to RON 6,634 million, reflecting an 18.3% increase compared to 2024,
while at Bank level provisions reached RON 5,940 million, marking a 24.0% rise
versus 2024. The overall increase in provisions is attributable both to the significant
expansion of the portfolio and to additional impairment adjustments for Stage 3
loans, which contributed 108 basis points to the growth. The Bank’s coverage ratio
of Stage 3 loans with provisions reached a comfortable level of 69.5% in 2025.
Cash and cash equivalents with the Central Bank (31.12.2025)
• Cash and balances with the Central Bank recorded a 16.2% increase at Group level
compared to the end of 2024, reaching RON 25,499 million. At Bank level, the
balance with the Central Bank amounted to RON 23,224 million, up by 37.4% versus
2024. The Bank’s evolution is mainly attributable to the increase in the minimum
reserve requirement maintained with the National Bank of Romania, which accounts
for approximately 76% of this category (RON 17,762 million).
• In 2025, the minimum reserve requirement rate at the National Bank of Romania was
maintained at the same level as in 2024, namely 8% for RON-denominated customer
deposits and 5% for EUR-denominated customer deposits.
• The Bank’s immediate liquidity ratio stood at 50.18% at the end of 2025.
Placements with banks and public institutions (31.12.2025)
• At Group level, placements with banks increased by 20.7% compared to 2024,
reaching RON 16,552 million, while at Bank level they grew by 6.3%, up to RON
14,476 million. The evolution at Bank level is mainly driven by the increase in
reverse‑repo transactions, whereas loans and advances granted to credit
institutions recorded a decline. As of December 31, 2025, placements with banks
include reverse‑repo securities, term deposits, and loans and advances to credit
institutions with maturities under three months, with the value of reverse‑repo
transactions amounting to RON 2,751 million at both Group and Bank level.
Securities (31.12.2025)
• The portfolio of securities and derivative instruments increased by 1.2% compared
to the previous year, reaching RON 69,208 million at Group level, out of which the
Bank recorded a 2.8% increase, up to RON 66,541 million. The largest share within
this category is held by securities issued by central governments, which amounted
to RON 60,632 million at Bank level, marking a 4.5% increase in 2025.
Fixed assets (31.12.2025)
• The Group’s fixed assets increased by 10.6% compared to 2024, reaching RON
3,755 million, while at Bank level a decrease of 16.4% was recorded, down to RON
4,175 million. The reduction in investments in subsidiaries contributed significantly
to this development, with such investments totaling RON 1,373 million at the end of
2025, compared to RON 2,645 million at the end of 2024.
Customer deposits (31.12.2025)
• Customer deposits increased by 4.4% at Group level compared to 2024, while at
Bank level the advance was 12.0%, exceeding the 7.0% growth rate recorded in the
banking system overall.
• The share of customers’ current accounts in total deposits recorded a slight
year‑on‑year decrease, from 49% in 2024 to 47% in 2025, while the share of term
deposits increased from 51% to 53%.
• 66% of customer deposits originate from individuals, while 34% come from
corporate clients.
Subordinated loans (31.12.2025)
• As at 31 December 2025, in the balance there were subordinated bonds issued by
the Bank amounting to EUR 485 million, equivalent of RON 2,466 million,
containing non-convertible bonds issued in 2018 and 2023.
As at 31.12.2025 the shareholders’ equity of Banca Transilvania was in amount of RON
20.092.024.330, of which:
• The share capital registered with the Trade Register on December 31, 2025,
represents 1,090,322,225 shares with a par value of 10 RON/share (on December
31, 2024 it consisted of 916,879,846 ordinary shares with a nominal value of RON
10 each). In the structure of the nominal capital, RON 86,501,040 were taken into
account, representing the adjustment to inflation of the social capital and surplus
from the revaluation of fixed assets, used for the capital increase, which was not
achieved by the date of the transition to the International Financial Reporting
Standards adopted by the European Union;
• Equity premiums: RON 28,613,972;
• Legal reserves: RON 1,493,546,486;
• Reserves for bank risks: RON 77,892,714;
• Reserves from change in fair value of financial assets measured at fair value through
other items of comprehensive income, net of deferred tax: RON -703,027,745;
• Reserves from the revaluation of tangible and intangible assets, net of deferred tax:
RON 31,510,999;
• Retained earnings (without current profit and profit distribution): RON
1,789,661,266;
• Own shares: RON 0;
• Additional equity instruments: RON 2,529,996,037;
• Profit: RON 4,095,289,537;
• 5% Legal reserve fund from gross profit: RON -241,182,226.
The share capital increase was made from the following sources: by incorporating the
reserves established from the statutory profit of 2024 in the amount of RON 1,734,423,790
(2024: RON 1,182,216,130 from the incorporation of reserves established from statutory
profit).
Following the Resolutions of the Extraordinary General Meeting of Shareholders of Banca
Transilvania dated April 28, 2025, it was decided to increase the share capital by RON
1,734,423,790 through the issuance of 173,442,379 new shares, with a nominal value of
RON 10 per share. The share capital increase was carried out by incorporating the reserves
formed from the 2024 net profit, amounting to RON 1,734,423,790, through the issuance
of 173,442,379 shares with a nominal value of RON 10 per share, for the benefit of the
shareholders registered with the Central Depository. As a result, the new share capital
amounts to RON 10,903,222,250, corresponding to 1,090,322,225 shares with a nominal
value of RON 10 per share.
Banca Transilvania issued additional Tier 1 bonds (AT1 bonds) in November 2025, with a
volume of EUR 500 million. AT1 bonds are unsecured and subordinated bonds, are
perpetual, and can only be redeemed by the issuer on predetermined dates. AT1 bonds
include discretionary non-cumulative coupon payments, which allows them to be classified
as equity under IFRS.
If the CET 1 of the Group or the Bank falls below 5.125% (i.e., if a trigger event occurs), the
principal amount will be reduced. The issuer may, at its discretion, increase the amount (in
whole or in part), subject to certain conditions, including the recording of a positive result
and the remedy of the trigger event.
As of December 31, 2025, Banca Transilvania Financial Group has a balance of RON 26.5
million of own shares, recorded at acquisition cost (~3.3 million shares), through its
subsidiary investment fund, BT INVEST1.
The share buybacks that took place in 2025 are approved by the Resolutions of the
Ordinary and Extraordinary General Meeting of the Shareholders of Banca Transilvania S.A
of 28.04.2025, when the Bank approved the buyback of up to 5,000,000 shares, within an
employee stock option plan program in order to implement a remuneration system and run
a staff loyalty program for a period of at least 4 years, as well as the payment of fixed
remunerations, respectively the granting of a mandate to the Board of Directors.
BOND PROGRAMMES LAUNCHED IN 2025
Since 2023, Banca Transilvania has raised close to EUR 3 billion (equivalent) through bond
issuances under its two programmes. Except for the RON denominated issuance and the
subordinated bond placement, all bonds are listed on Euronext Dublin, enhancing
transparency and access to international capital markets. These transactions have
broadened and diversified the Bank’s investor base, supported long term funding resilience
and strengthened BT’s international visibility, while showcasing its financial performance,
sustainable growth trajectory and the investment case of the Romanian economy.
Banca Transilvania’s bond issuances are structured under two complementary Euro
Medium Term Note (EMTN) programmes: the EUR 1,000,000,000 EMTN Programme and
the EUR 1,500,000,000 EMTN 2 Programme. Together, these programmes provide a
flexible and scalable funding framework, supporting the Bank’s medium-term financing
needs while ensuring continued access to international capital markets. The use of parallel
programmes enhances funding diversification, strengthens balance sheet resilience and
underpins BT’s disciplined approach to capital planning, in line with its long-term growth
strategy and sustainability objectives.
Throughout 2025, BT supported two bond issuances:
XS3109437387
Banca Transilvania attracted RON 1.5 billion, a record issue in the local banking system.
Banca Transilvania announced the successful completion of its first sustainable bonds
issue in RON, on the Bucharest Stock Exchange, which was received with high interest by
local investors.
In the initial hours following the launch, approximately 50% of subscriptions were placed
by Romanian institutional investors, including investment and pension funds, commercial
banks, insurance companies and trading firms. At the same time, the issuance drew interest
from international investors, with support from anchor investors such as development
banks and international funds, reinforcing the credibility of the transaction.
The issuance consisted of senior non-preferred bonds with a 7-year maturity, a call
option after 6 years, and a coupon of 8.875%. The bonds qualify as MREL-eligible
instruments, contributing to the Bank’s loss-absorbing capacity in line with European
regulatory standards. Proceeds will be used to finance sustainable projects in accordance
with the BT Sustainable Finance Framework.
This RON-denominated issuance further diversified investment opportunities for local
investors. Together with the capitalization of a significant portion of the prior year’s profits,
the funds raised support continued lending to both corporate and retail clients, with a direct
positive impact on economic growth.
The bond sale was coordinated by J. BT Capital Partners, Alpha Bank S.A., Banca
Comercială Română S.A, Raiffeisen Bank, The Bank of New York Mellon.
Rating: BBB- by Fitch
XS3239211132
Banca Transilvania successfuly executrd its first AT1 (Additional Tier 1) bonds issue on
the Dublin Stock Exchange, strengthening its reputation as a leading and attractive
participant in the international capital markets.
The transaction benefited from strong investor interest from the outset, with more than
40 leading institutional investors expressing early participation. Within two hours of
launch, the order book reached approximately EUR 2 billion, peaking at around EUR 3.25
billion following the entry of US-based investors. Final demand exceeded EUR 2.65
billion, representing an oversubscription of 5.3 times the targeted issuance size. In total,
over 180 high-quality investors—a record for Banca Transilvania’s bond issuances—
from the European Union, the United Kingdom, the United States and other international
markets participated in the transaction, supporting a strong outcome in terms of both
market reception and pricing.
The issuance comprised EUR-denominated Additional Tier 1 capital securities,
contributing to the achievement of Banca Transilvania’s capital objectives in line with its
approved capital planning. The bonds carry a coupon of 7.125%, reset every five years,
with a first reset date of 27 May 2031, and were issued on 27 November 2025.
The transaction was coordinated by Bank of America Securities Europe S.A., J.P. Morgan
SE, Morgan Stanley Europe SE and BT Capital Partners S.A.
Overall, Banca Transilvania’s bond issuance programmes have strengthened the Bank’s
funding diversification, capital resilience and access to international capital markets.
Through disciplined execution, strong investor engagement and the integration of
sustainability considerations, these programmes have supported regulatory compliance,
long-term financial stability and sustainable growth. By consistently aligning funding
activities with its strategic objectives and market best practices, Banca Transilvania has
reinforced its capacity to support the Romanian economy while maintaining a robust and
forward-looking capital structure.
TLV BONDS PERFORMANCE
PROFIT AND LOSS ACCOUNT – YEARLY DYNAMICS
Items of the statement of profit or loss as of 31 December 2025, as compared to 2024
and the budgeted figures for 2025:
BANK
GROUP
RON million
Realized
2025
Budget
2025
Realized
2024
Δ
2025/
2024
Realized
2025
Realized
2024
Δ
2025/
2024
(1)
(2)
(3)
(4)=(1)/
(3)-1
(5)
(6)
(7)=(5)/
(6)-1
Total
Operating Income
9.786
9.587
8.224
19,0%
11.661
10.061
15,9%
of which
- net interest
income
6.631
6.814
5.532
19,9%
8.066
6.908
16,8%
- net commission
income
1.388
1.561
1.268
9,5%
1.623
1.488
9,1%
Operating
expenses
(4.344)
(4.356)
(3.732)
16,4%
(5.441)
(4.859)
12,0%
Operating result
5.442
5.231
4.492
21,1%
6.220
5.202
19,6%
Bargain gain
-
-
-
121
816
-85,1%
Net provisions
(622)
(543)
(332)
87,3%
(832)
(575)
44,6%
Gross profit
4.819
4.688
4.160
15,9%
5.510
5.442
1,2%
Income tax expense
(-)
(724)
(770)
(628)
15,3%
(849)
(712)
19,3%
Net profit
4.095
3.918
3.532
16,0%
4.661
4.731
-1,5%
*Due to rounding, the numbers presented in this document may not add up exactly to the total presented and the
percentages may not accurately reflect absolute numbers.
Gross Profit (31.12.2025)
• Banca Transilvania Financial Group: RON 5,510 million, +1.2% compared to 2024
• Banca Transilvania: RON 4,819 million, +15.9% compared to 2024
Net profit (31.12.2025)
• The Group’s net profit amounted to RON 4,661 million in 2025, confirming the solid
operational performance and the efficiency of the business model. Compared to
2024, it decreased by 1.5%; however, excluding the impact of the bargain gain, the
increase would have been 16.0%.
• At Bank level, net profit exceeded RON 4 billion (RON 4,095 million), up by 16.0%
compared to 2024, reflecting the strong performance of commercial activity and
continued operational efficiency.
Bargain gain
• The gain from the acquisition of O.C.N. Microinvest S.R.L. in amount of RON 120.2
million does not constitute a taxable transfer and represents the difference between
the consideration paid (in amount of RON 331.9 million) and the part of the fair value
of the assets and liabilities of O.C.N. Microinvest S.R.L. on the date of taking control
(in amount of RON 452.1 million).
• In the period of 3 months until December 31, 2025, O.C.N. Microinvest S.R.L.
contributed to the consolidated profit or loss situation with the amount of RON -42.9
million. If the acquisition had taken place on January 1, 2025, the contribution to the
consolidated profit would have been of RON 46.5 million.
Cost/Income Ratio (31.12.2025)
• At Group level, the cost‑to‑income ratio stood at 46.7%, decreasing by 1.6
percentage points compared to 2024 (48.3%).
• At Bank level, the cost‑to‑income ratio improved by 1 percentage point, reaching
44.4%, as a result of the operational efficiency measures implemented throughout
2025, despite the doubling of the turnover tax from 2% to 4% starting with the
second half of the year. Excluding the impact of the turnover tax – which adds nearly
5 percentage points – the cost‑to‑income ratio would be 39.4%.
Operating income (31.12.2025)
Operating income amounted to RON 11,661 million at Group level, compared to RON 10,061
million in 2024. At Bank level reached RON 9,786 million, up 19.0% versus 2024 and 2.1%
above the budgeted level, driven by the expansion of business volumes, both through
increased lending to individuals and companies, as well as through the higher volume of
transactions carried out via the Bank.
The most important income categories are the following:
• Net interest income: RON 8,066 million in 2025 at Group level, up 16.8% compared
to the previous year. At Bank level, net interest income increased by 19.9%, reaching
RON 6,631 million, with income from securities contributing significantly–
representing 47.1% of the total, respectively 3,121 million.
• Net fees and commissions income: At Group level increased by 9.1%, reaching RON
1,623 million, while at Bank level it grew by 9.5%, reaching RON 1,388 million. The
positive evolution compared to the previous year is mainly due to a 19% increase in
the number of card transactions.
• Net trading income: Up 30.8% at Group level and 26.4% at Bank level, driven
primarily by higher net foreign exchange transaction income, as well as positive net
income from derivative instruments. At Bank level, foreign exchange transactions
account for 84% of total net trading income.
Operating expense before net expenses with impairment allowance and provisions for
other risks and loan commitments amounted to RON 5,441 million at Group level, compared
to RON 4,859 million in 2024. At Bank level, operating expenses increased by 16.4%,
reaching RON 4,344 million, up from RON 3,732 million in 2024. The evolution of these
expenses at Bank level was influenced, in addition to ordinary activity, by the doubling of
the turnover tax from 2% to 4% starting July 2025, which totaled RON 487 million for the
reporting year (RON 269 million in 2024). Of the increase in operating expenses, 13.3
percentage points are attributable to the turnover tax.
Personnel expenses: increased by 4.0% at Group level and by 11.2% at Bank level (2025
vs. 2024), driven by the 4.5% expansion of the employee base and related benefits. The
Bank continued its performance‑based Stock Option Plan, under which high‑performing
employees may exercise their right and option to purchase a number of shares issued by
the Bank. This program generated personnel expenses of RON 141 million in 2025, up 16.8%
compared to 2024.
Pre-provision operating profit: increased by 19.6% in 2025 compared to the previous year,
reaching RON 6,220 million at Group level. At Bank level, operating profit amounted to RON
5,442 million, up 21.1%, supported by higher operating income generated by the Bank’s
organic growth and by the strategic initiatives aimed at strengthening its position in the
banking sector through acquisitions.
Net Provision Expenses: increased to RON 832 million at Group level (including recoveries
from off-balance sheet loans), of which the Bank recorded RON 622 million, resulting in a
cost of risk that remains below 1% (0.59%).
PRUDENTIAL INDICATORS – STABILITY AND FINANCIAL DISCIPLINE
Among the indicators monitored by the National Bank of Romania through the prudential
supervision system, the most significant for the assessment of the bank's evolution are:
Ratio
BT level 31.12.2025
BT level 31.12.2024
Core tier one ratio
17.77
20.83
Tier 1 ratio
20.70
20.83
CAR
22.71%
23.69%
The capital adequacy ratio is well above the regulatory minimum requirement of 8%,
standing at a comfortable level of 22.71%, without the profit of the second half of the year
2025 included. An adequate level of capital and overall financial ratios has been maintained,
in line with the prudent banking practices.
Buffer to MDA restriction as of 31 December 2025: 485 bps (individual) and 380 bps (Group
level).
Available distributable items (ADI) as of 31 December 2025: RON 4.73 billion.
PERFORMANCE OF THE BANK’S BUSINESS LINES – GROWTH ACROSS ALL
VERTICALS
BT continued to be the main financier of the Romanian economy, mobilizing the largest
resources in the banking system to support companies, individuals, and Romania’s strategic
projects.
The number of active customers increased by 9% in 2025 compared to 2024, from 4.57
million to 4.99 million, with the following breakdown by business lines:
BT Active clients*
31.12.2025
31.12.2024
2025/2024
Large Corporate Clients
1,750
1,509
+16.0%
Medium Corporate Clients
9,029
8,761
+3.1%
SME Clients
26,218
25,002
+4.9%
Micro Business Clients
499,164
448,472
+11.3%
Retail Clients
4,448,962
4,088,127
+8.8%
TOTAL
4,985,123
4,571,871
+9.0%
*The classification of legal entities into segments is regulated by internal standards which set the conditions for the
classification of clients per business segments.
The Bank’s entire corporate loan portfolio accounts for approximately 60% of total gross
loans, with the following split between local‑currency and foreign‑currency exposures:
45% RON and 55% FCY.
Large Corporate Clients
• The Large Corporate business line focuses on financing large scale projects with
strategic impact in the transition to a sustainable economy. In this area, BT supports
major companies that develop or operate critical infrastructure and highly complex
investments – for example, from the production and distribution of renewable
energy to extensive electric mobility networks or major energy efficiency projects.
Investments in green buildings, low emission transport and logistics, sustainable
industrial modernization, or resource management projects are prioritized, reflecting
the bank’s commitment to facilitating responsible development of sectors essential
to the economy. At the same time, BT remains a strong partner for projects in
healthcare, education, and social infrastructure, where the transformational
potential and positive community impact are significant relative to the beneficiary’s
financial size.
• The gross loan portfolio of the business line reached 36 billion RON at Group level
(+12.6% versus December 2024), and 36 billion RON at Bank level by the end of
2025, up 22.4% compared to year end 2024.
• The portfolio includes syndicated and bilateral financings, with values ranging from
several tens to several hundreds of millions EUR, directly contributing to strategic
investments: Nusco City – EUR 51 million, Electrica – RON 757 million, Pehart – EUR
60 million.
• With a 34% share of the total loan portfolio, the Large Corporate segment focused
on deepening long term lending relationships, managing a loan portfolio that has
nearly doubled compared to five years ago.
Medium Corporate, SME & Micro Clients
• The Medium Corporate, SME, and Micro business line supports the development of
Romanian companies through dedicated financing and tailored banking solutions
for every stage of growth, with an expanding portfolio driven by new lending and
the integration of the OTP Bank acquired portfolio.
• Gross loans increased by +16.7% at Bank level and +3.5% at Group level, reaching
26.7 billion RON (Bank) and 28.5 billion RON (Group) in 2025, influenced by:
o Portfolio growth through acquisitions, with 2.3 billion RON of loans taken
over from OTP Bank as of December 2025;
o New loans granted to Medium Corporate, SME, and Micro clients totaling
approx. 9.9 billion RON;
o Over 15,000 loans are securitized under the synthetic non-STS securitization
transaction concluded on 22 December 2023 with the European Investment
Fund (EIF) and the European Investment Bank (EIB), effective from 31 March
2024. The securitization covers a loan portfolio initially valued at 2,027.5
million RON. BT retains at least 5% of each exposure in the securitized
portfolio. Credit risk on the mezzanine and senior tranches is transferred to
EIF, while the junior tranche (1.6% of the initial portfolio) is retained by the
Bank. The guarantee is scheduled to mature on 31 December 2039.
• BT has invested time and resources into improving BT Go, the all-in-one banking
platform for entrepreneurs. It has grown into a flexible business ecosystem with
544,000 users and transaction volumes exceeding 351 billion RON, offering a wide
range of features.
• BT Go continues to differentiate itself through an integrated digital ecosystem that
enhances entrepreneurs’ autonomy and simplifies the management of financial and
administrative operations. Recent developments include: recurring payments,
opening and closing savings accounts directly in the app, expanded services for
clients in Italy (instant euro payments, automatic beneficiary verification).
• A major milestone is the digital onboarding process for companies, enabling 100%
online business account opening directly in the app, without physical documents or
branch visits. Eligible entrepreneurs can become BT clients quickly using only
company data and the legal representative’s ID.
• A distinctive element of BT Go is its full integration with FGO, the intelligent invoicing
solution in BT’s ecosystem. Companies can issue invoices, automatically send
documents to the ANAF e-Invoice system, receive supplier invoices, and pay them
directly from the app — all aligned with the company’s financial flows.
• Additional advanced features include online full loan repayment, instant issuance of
business cards, and integrated investment tools.
• These capabilities strengthen BT’s position as a leader in digital banking for
companies and in developing a complete digital ecosystem for entrepreneurs.
• Micro clients, part of the Mid Corporate & SME segment, increased by 50% in the
past five years, reaching 499,164 clients (+11.3% versus 2024).
• At Group level, loans granted reached 6.8 billion RON.
BT Mic continues to facilitate access to financing and business-development
services through the Stup initiative. The entrepreneurial community exceeded
40,000 members, generating: over 10,000 business services purchased by
entrepreneurs, more than 7,000 digitalization products acquired by 4,300
entrepreneurs, over 880 businesses launched within the community.
Retail clients
• At Group level, retail loans exceeded 44.9 billion RON, up 10.4% from 2024, driven
by both acquisitions and organic growth.
• Retail clients were a key strategic focus in 2025:
• Active clients increased by 8.8% to almost 4.4 million. Over 470,000 individuals
became BT clients in 2025, plus 130,000 clients migrated through the OTP
integration. A significant share opened their accounts directly via BT Pay with no
branch visit.
• BT is the market leader in cards, with 8.1 million cards in its portfolio. Card
transactions increased by 19% year over year.
• BT has 4.9 million digitalized unique clients using BT Pay and internet/mobile
banking. These customers use the internet and mobile banking service—BT Pay. We
are seeing a clear trend of growing interest in digitalization, with customers
increasingly preferring innovative solutions that allow them to easily and efficiently
manage financial services in the digital environment, such as virtual cards, credit
and savings products, insurance, investments, and private pensions.
• The Bank reached 5.7 million unique cards enrolled in BT Pay, Apple Pay, Google
Pay, Fitbit Pay, and Garmin Pay, mobile payments at merchants grew in 2025 by
29% vs. 2024. Money transfers from cards enrolled in BT Pay increased by 70%.
Non card digital transactions grew by 24% year over year.
• The Bank also operates 577 BT Express terminals used for various transactions
other than cash withdrawals, has over 178,000 POS terminals installed, 40,000
STAR partner locations, and collaborates with over 8,000 e-commerce merchantsBy
the end of 2025, Chat BT had surpassed 1.5 million interactions. Thanks to
continuous optimizations—fast and intelligent responses, multilingual support (RO,
EN, IT, HU), dynamic personalization, access to tutorials and resources, and tailored
insights—by the end of the year, over 80% of customers were finding the
information they needed on their own, and 20% of conversations are handled by a
consultant (live chat conversion rate: 20%).
• The Premium segment grew in 2025 to approximately 150,000 Premium and Private
customers and was expanded nationwide. BT now has Relationship Managers
dedicated to Premium customers in most urban centers and a dedicated team of
Virtual Relationship Managers nationwide. The Premium Banking offering was
enhanced in 2025 with the launch of an exclusive product for Premium customers—
the Premium Club Subscription.
• Starting in August 2025, Banca Transilvania customers can enroll directly, via
the BT Pay app, in the voluntary pension funds (Pillar III) managed by BT Pensii.
Since the launch of this feature, over 8,600 customers have chosen to save for
the long term in one of the two voluntary pension funds—Pensia Mea and Pensia
Mea Plus.
Treasury
Treasury activities complement the product and service offering across all five business
lines. Strategic principles include:
• Prudence – managing excess liquidity, aligning asset–liability maturities, managing
interest-rate structure and market risks within BT’s Risk Strategy and regulatory
requirements.
• Risk diversification – setting and monitoring counterparty exposure limits across all
treasury products.
• Maximizing income prudently – integrating medium- and long-term macroeconomic
trends.
• Supporting commercial lending growth – through pricing strategies and
balance-sheet management (ALM).
• Developing hedging products and client solutions – including market access and
digital price distribution.
A significant portion of revenue continues to be generated by fixed-income transactions,
where the focus is on reducing the volatility of results. This objective is achieved by
focusing on held-to-maturity portfolios, designed to ensure a high level of high-quality
liquid assets (HQLA) with easy access to liquidity under adverse market conditions. In
certain situations, this approach is complemented by various interest rate risk hedging
strategies.
Foreign-exchange operations also grew alongside broader bank activity. Net consolidated
FX income increased by 10.9% from 2024, reaching 883 million RON in 2025.
2026 OUTLOOK – STRATEGIC DIRECTIONS AND FINANCIAL PERSPECTIVE
STRATEGIC OBJECTIVES, DEVELOPMENT PLAN AND PROPOSALS REGARDING THE
FINANCIAL POSITION AND THE PROFIT AND LOSS ACCOUNT FOR 2026
Qualitative objectives
• Reinforcing our leadership as the largest fully integrated financial group in Romania
by sustained organic growth and by remaining open to acquisitions or mergers that
can further accelerate our expansion.
• Consolidating our top position across all business segments and financial services
sectors, while deepening synergies across BT Group companies to unlock an
improved, seamless client experience.
• Supporting Romania’s economic development by prioritizing lending in nationally
strategic sectors – such as energy, infrastructure, healthcare, agriculture, education
– while continuing to finance businesses of all sizes. BT will remain a trusted partner
for national and European programs, sustaining companies and projects that
accelerate the absorption of EU funds.
• Strengthening our position as the bank with top customer satisfaction in Romania
by consistently enhancing service quality and continuously improving customer
experience across all channels.
• Continue our ESG initiatives to contribute to a sustainable development of the
Romanian economy.
• Digital: continue to enhance operational efficiency across the BT Group by
advancing automation and streamlining processes, supported by sustained
investments in technology and IT infrastructure. Our focus remains on delivering
secure, resilient and reliable digital platforms, while ensuring rapid adaptation to the
evolving needs of customers in all markets we serve.
Quantitative objectives
• Total assets: +6.4% growth
• Total gross loans: +8.5% growth
• Total deposits from customers: +5.8% growth
• Cost/Income ratio: 45.6% (39.4% without turnover tax)
• Loans/deposits: 64.8%
DEVELOPMENT PLAN FOR 2026
Investment budget for 2026 (RON million):
Buildings – agencies and branches
105.94
Investments IT and cards, of which:
663.17
Hardware IT
34.23
Software IT
407.82
Retail and cards, of which:
221.11
Hardware retail cards
51.92
Software retail cards
169.19
Cars
21.39
Security
9.79
Cash processing center
7.88
Digital initiatives
177.22
Other
32.00
Total Investments RON million, VAT included
1.017.40
PROPOSALS REGARDING THE FINANCIAL POSITION AND THE PROFIT AND LOSS
ACCOUNT 2026
In projecting indicators for 2026, an average inflation rate of 6.1% and an exchange rate of
5.17 LEI/EUR were taken into consideration.
An increase of total assets by 6.4% was estimated compared to the level recorded in 2025
(reaching RON 223,765 million). In the structure of assets, were considered: 51.7% weight
of gross loans, 23.5% weight of immediate liquidity and 25.2% investments in securities.
Regarding the structure of liabilities and equity projected for 2026, an increase of 5.8% in
non‑bank customer deposits compared to 2025 has been considered, resulting in a
projected 89.0% share of these resources in total liabilities.
The budgeted income and expense indicators for 2026, submitted for approval to the
General Meeting of Shareholders, are defined to support the proposed business objectives
and are aligned with the specific prudential and supervisory regulations applicable to the
banking sector.
The elements from the Statement of Financial Position and the Statement of Profit or Loss
proposed for 2026 are as follows:
Statement of Financial Position (RON million)
Budget proposal 2026
Cash and cash equivalents
52,484
Investment securities
56,312
Loans and advances to customers (gross)
115,731
Loans provisions
(6,985)
Fixed assets
3,106
Equity investments
1,373
Other assets
1,743
Total assets
223,765
Deposits from customers
178,671
Deposits and loans from financial institutions
16,621
Subordinated liabilities
1,014
Other liabilities
4,452
Total liabilities
200,758
Equity
18,662
Profit/Loss for the year
4,345
Total equity
23,007
Total liabilities and equity
223,765
Profit and Loss Account (RON million)
Budget proposal 2026
Interest income
11,658
Interest expenses
(4,546)
Net interest income
7,112
Net commission income
1,563
Net trading income
1,521
Contribution to the Guarantee Fund
-
Other income
583
Total income
10,779
Personnel expenses
(2,384)
Other operating expenses
(1,911)
Depreciation and amortization
(501)
Other expenses
(120)
Total expenses
(4,916)
Net impairment charges
(750)
Profit before tax
5,113
Income tax
(768)
Net income
4,345
In 2025, Banca Transilvania reaffirmed that it is, above all, an organization that puts people
first, and its priorities in Human Resources were focused on attracting, developing, and
retaining talent, with an emphasis on the skills of the future, managerial performance, and
adaptation to market changes. These directions were aligned with Banca Transilvania's
strategic objectives and supported the organization's ability to respond to a constantly
evolving economic and technological environment by investing in continuous learning,
leadership, digitization, and employee experience.
PEOPLE AT THE CORE OF NUMBERS
• Total number of bank employees: 10,898
• Number of active bank employees: 10,180
• Average age: 39
• 73% women and 27% men
• Staff turnover (2025 vs. 2024): 9.23% in 2025, compared to 9.06% in 2024.
• Almost 50% of Banca Transilvania Financial Group employees are mothers with
children under the age of 18.
ORGANIZATIONAL CULTURE AND CLIMATE – BT EMPLOYEE EXPERIENCE
INDEX
Developing a constructive organizational culture is a constant concern for the bank, with
the desire to facilitate better collaboration between employees to achieve objectives and
involve them in their own professional development, with the desire for Banca Transilvania
to remain a place of work where employees enjoy coming to work, build authentic
relationships, and have real opportunities for development.
For the ninth consecutive year, the BT Employee Experience Index (BT EEI) was
conducted, an internal survey dedicated to measuring perceptions of the work environment
and understanding how to improve the daily experience of employees at GFBT companies.
The BT Employee Experience Index (BT EEI) is conducted twice a year and has the following
main objectives:
• measuring the Employer Net Promoter Score (eNPS);
• measuring the quality of interaction between managers and the members of the
teams they coordinate;
• measuring the extent to which Banca Transilvania's strategy is known to the entire
bank team;
• collecting proposals/recommendations that can increase employee satisfaction;
• measuring the quality of collaboration with other colleagues in other departments,
based on frequent professional interactions;
• evaluating the degree of collaboration with departments within the organization,
based on interactions throughout the year.
In the summer 2025 edition, a new framework for measuring the organizational climate was
introduced, focusing on dimensions with a direct impact on eNPS and employee motivation.
These dimensions are monitored annually to understand what matters most to employees,
with concrete actions to be defined at both the organizational and team levels to
continuously improve the employee experience at Banca Transilvania Financial Group.
At the same time, in the summer edition of the internal BT Employee Experience Index
study, colleagues considered to be models of collegiality, collaboration, and support were
designated—those who demonstrate desirable attitudes at the organizational level. Also in
this iteration, the departments/divisions with which employees interact most often in their
daily work and whose speed of response and resolution of requests are particularly
appreciated were evaluated.
The participation rate of Banca Transilvania Financial Group employees was 85% in the
survey conducted between July and August 2025 (compared to 89% in the January-
February edition), with over 9,490 responses (vs. 9,213 in January-February) that were
analyzed and used to make a series of decisions to improve the organizational climate.
EMPLOYEE DEVELOPMENT AND GROWTH
In 2025, efforts continued to create a culture based on continuous learning, collaboration,
autonomy, and resilience by developing programs designed to support performance and
continuous adaptation to changes in the banking environment. Key concerns include
upskilling employees to understand and use technology tools that use artificial
intelligence, as well as training managers in the context of the hybrid human-AI work
environment.
There was a record level of participation in learning programs, totaling approximately
681,350 hours of training, delivered through a combination of formats: classroom
sessions, webinars, and e-learning programs. The program portfolio evolved throughout
the year to meet both the bank's immediate operational needs and its medium- and long-
term strategic objectives.
93% of the training programs were dedicated to strengthening technical and
specialized skills, covering essential areas such as banking products and services,
operational flows, financial analysis, project management, legal, and IT. This focus
supported the growth of internal expertise and the alignment of employee skills with the
requirements of an ever-changing financial environment.
In order to structure and support the learning process in a coherent manner, training
programs were organized in two main academies, which covered distinct development
needs and supported the professional paths of employees, depending on their role, level
of experience, and area of activity.
Leadership and Management Academy
• Be the Manager – A program dedicated to early-career and mid-level managers,
focused on strengthening essential management and leadership skills.
• Leadership Program – Developed in collaboration with professors from Harvard
Business School. This program is designed for senior managers in the BT Group,
with the aim of developing strategic leadership skills.
• Intelligent Relationships – A program for senior and mid-level managers in the BT
Group, designed to improve collaboration and the effectiveness of professional
relationships within the organization.
• Leadership Journey program – Dedicated to Head Office Directors, together with
professors from the prestigious EMBA Maastricht program
• START BT_Leadership in Action – A 6-month program dedicated to training the
successors of Branch Directors.
Sales Academy
• Entrepreneurship – A program dedicated to developing entrepreneurial spirit,
based on modern methods, including Business Model Canvas and GROW, offering
participants practical and applied experiences.
• SME Business School – A program designed for teams in the SME and
Microbusiness segment, this program focuses on developing sales skills and
identifying customer needs, contributing to building sustainable business
relationships.
• Sales Caravan – A project specially designed for customer relationship specialists,
with the aim of developing sales skills in a flexible and accessible format, adaptable
to local realities (Telephone Approach and Consultative Selling).
• Individual coaching programs, delivered by internal and external coaches, which
support the development of managerial skills and the process of assuming the role
of manager.
AIvolution
AIvolution was a special initiative in 2025, with the goal of facilitating cultural
transformation through artificial intelligence. A bold internal project, at a time when AI is
only beginning to be widely understood, but one that promises to profoundly transform the
way employees work, collaborate, and innovate. Developed by HR in the first phase for
implementation at the IT team level, it was gradually extended to the entire organization,
targeting the way employees work, collaborate, and innovate through the responsible and
efficient adoption of AI technologies.
AIvolution addressed two business needs: (1) increasing operational efficiency in all areas
of activity by reducing the volume of "busy work" and (2) developing employees' digital
skills to support new working models and transformation projects. Among the results that
measure the impact of the project:
• Adoption & engagement: over 350+ IT employees participated in more than 60
training sessions in the first stage, consolidating the skills base required for AI
transformation projects; in total, nearly 6,800 participations in AI-themed programs
confirm the interest and relevance of the topic within the organization.
• Individual efficiency: an internal survey shows that 80% of AI users report improved
work quality and savings of 1–2 hours/day, a critical indicator for operational
efficiency and availability for high value-added activities.
• Scaling technology in business: Microsoft 365 Copilot and GitHub Copilot licenses
have been allocated and integrated into employee workflows for the automatic
generation of documents, analyses, presentations, or code-assisted writing,
reducing manual effort costs and increasing the quality standard of deliverables.
• Quality of IT deliverables: the use of AI in development (including AI agents for roles
such as Analyst, PM, Architect, Developer, QA) has led to reduced delivery times
and a noticeable increase in quality.
Through these results, AIvolution has contributed to cost efficiency and increased
productivity, strengthened the digital culture at BT, and prepared the organization for
future technological transformations.
Learn from Home
Intended for network employees, this benefit was accessed by 851 colleagues in 2025.
Webinars developed in 2025:
• Meaningful Finance – The Fundamentals of Financial Education – The course
provides essential knowledge about personal money management, saving, and
financial planning. Participants prioritize their own financial needs and discover
simple and accessible strategies for responsible, long-term management of financial
resources.
• Meaningful Finance – First Steps in Investing – The program introduces the
concepts of investing, the benefits of investment funds, and the BTAM range.
Participants analyze financial options such as funds, savings, direct investments in
stocks, and optional pensions, with access to real-life examples and simulations.
PERFORMANCE MANAGEMENT
In the context of the organic growth strategy adopted by the company, it is essential to
develop a solid internal capability to support long-term performance delivery. This
approach requires a clear alignment of individual efforts with organizational objectives. To
this end, changes were introduced in 2025 to the annual performance management
process, with the aim of stimulating genuine performance, real employee engagement, and
a better correlation between individual and company results.
• Cascading objectives and horizontal alignment – clear frameworks for top-down
cascading of the bank's priorities were introduced, whereby strategic objectives are
communicated from management to teams, as well as mechanisms for horizontal
alignment between business areas. Together, these increase clarity, guide actions,
and make the performance management process more relevant, consistent, and
effective.
• Strengthening the individual objectives component – adding a new category,
"Individual Objectives", with a weighting of 40%, equal to that of collective
objectives (macro-indicators, NPS) to more clearly highlight each colleague's
contribution to the bank's results, while annual performance more strongly reflects
individual performance, while maintaining a balance between personal contribution
and accountability for the bank's performance.
• Relevant skills and results-oriented development – To ensure sustainable
performance, skills with a direct impact on individual objectives were kept in the
foreground, selecting a maximum of three relevant skills annually. In addition, a
development objective was introduced to prioritize those needs that best support
the proposed performance.
• Calibrating performance for fairness and consistency – Individual performance
calibration frameworks were created to ensure fairness and greater objectivity in
the assessment stage, as well as consistency across the bank in applying the
process.
TALENT ATTRACTION AND RECRUITMENT
The 2025 approach to recruitment was an integrated one, focused on both meeting
operational needs and supporting long-term performance and retention. The profile sought
emphasized behavioral skills essential to the bank's business model—the ability to
collaborate, autonomy, customer focus, and adaptability in an ever-changing environment.
The bank continued to implement and develop projects with an impact on recruitment and
retention, focusing on improving the experience of candidates and new employees,
streamlining selection processes, and increasing the quality of integration into the
organization.
A differentiating factor was the launch of the first Employer Branding spot and external
promotion supported by dedicated campaigns that ensured greater visibility for the
employer brand.
BT Career Plan
Developed to ensure predictability and transparency of promotion and professional
development opportunities at BT. This program is active in the BT network and in the
relevant departments at headquarters, benefiting approximately 830 employees in 2025.
Internship at BT
• Three internship projects were implemented with funding from the European Social
Fund:
o Two internship projects aimed at students: "Good experiences keep us
together" and "From the bench to the Bank – the first steps towards
discovering your career." In both projects, planned until 2027, the goal is for
800 students from economics and technical faculties across the country to
do internships at BT headquarters.
o An internship project for high school students: "Internships and training for
valuable professionals," where, in partnership with the "Costin Kirițescu"
Economic College in Bucharest, 268 students are doing internships at BT for
a period of 3 years.
• Programs for students: Engineering Summer University, in collaboration with the
Technical University of Cluj Napoca, in which over 100 students interested in
technical programs and projects took part; Junior Summer University in
collaboration with Babeș-Bolyai University, in which over 100 students interested
in finance and banking took part; Global Money Week, attended by
120 middle
school students from Cluj-Napoca
, Scoala altfel (A Different Kind of School),
attended by 130 primary school students, and an event dedicated to financial
education with over 120 high school students interested in economic development,
all in collaboration with the County School Inspectorate.
• BT Bridge is an initiative through which new colleagues from the Head Office
connect with teams in the network to gain a direct understanding of the reality on
the ground: BT customer profiles, service delivery, product portfolio, daily
challenges, and best practices. At the same time, valuable ideas for improvement
are collected, inspired by the experience of colleagues who work in direct contact
with customers.
• BT Loop: a pilot project to streamline recruitment and retention processes for entry-
level roles in the Contact Center and Front Office, initially implemented in Cluj and
Bucharest. The objective of the project is for
shortlisted candidates
to have direct
experience in the work environment: to observe daily activities, how the company
operates, and to interact with future managers and colleagues. This allows them to
form a realistic picture of the activities and responsibilities before being hired.
• BT First Pass: an annual event that facilitates candidates' first contact with the
banking field, providing access to relevant information, direct interactions with
specialists, and practical experiences, as well as a clear perspective on the
opportunities available at Banca Transilvania (participants in the 2025 edition – over
350).
• RATIO Academy, a project developed in partnership with the
Association of
Accounting Students
at Babeș-Bolyai University in Cluj-Napoca, the largest
educational camp in the field of economics. As part of the initiative, students from
across the country participate in CFA-themed workshops and presentations, a
project in which over 80 students and pupils took part.
• Business Smart School, a summer school organized by the Association of
Economics Students at Babeș Bolyai University, Cluj-Napoca, which brings together
students from all over Romania interested in entrepreneurship, in which over 60
students and pupils took part.
• MindSpark, a project organized by StudPAC at Babeș-Bolyai University, Cluj-
Napoca, is a summer camp for pupils and students interested in marketing,
communication, and advertising, in which over 30 students and pupils took part.
• The Investment Club within the Faculty of Economics and Business Administration
is a community of passionate students interested in exploring the world of finance
and investment. Over 40 students took part in the event organized by BT, debating
macroeconomic topics.
• Mathias Corvinus Collegium Leadership Training is the largest private education
and development institution for young people in Hungary, with extensive programs
in Transylvania, receiving a visit from 20 students.
PREVENTION OF HARASSMENT AND DISCRIMINATION
Banca Transilvania pays special attention to compliance with professional conduct rules,
the prevention and management of harassment and discrimination, and the application of
disciplinary measures, in accordance with the applicable legal framework and the bank's
internal policies.
The main objective of the activity in this area was to maintain a safe, respectful, and fair
working environment based on principles of integrity, responsibility, and mutual respect.
All complaints received were analyzed impartially, confidentially, and within the established
deadlines, through dedicated internal mechanisms that ensure the protection of the rights
of all parties involved. Following the investigations, it was found that 93% of the
complaints of harassment/discrimination were unfounded, with only one of them
resulting in the sanctioning of an investigated colleague with a written warning.
BT continues to inform and raise awareness among employees about standards of conduct,
the prevention of harassment and discrimination, and the channels available for reporting
non-compliant situations.
Among the measures taken, BT continues to organize regular online training courses on
topics related to diversity, non-discrimination and equal opportunities, health and safety,
ethics, combating bribery, corruption, money laundering and cash theft, etc. In addition,
the confidentiality of the whistleblowing complaint resolution mechanism is ensured to
encourage the reporting of incidents of unfair treatment or discrimination.
Through these actions, Banca Transilvania reaffirms its commitment to an organizational
climate based on respect, diversity, and inclusion, contributing to the consolidation of an
ethical culture and supporting long-term sustainable performance.
REMUNERATION POLICIES AND BENEFITS
At Banca Transilvania, employee motivation mechanisms are constantly being developed,
and the remuneration policy is approved by the Board of Directors. The bank ensures fair
and competitive remuneration, strictly in line with skill and performance levels, with two
balanced components: a fixed component and a variable component.
• Fixed remuneration reflects relevant professional experience and organizational
responsibility, as set out in the job description, as part of the terms of employment.
It is sufficiently consistent and represents a sufficiently large proportion of the total
remuneration to allow for a fully flexible policy on variable remuneration
components, including the possibility of not paying any component thereof.
• Variable remuneration reflects sustainable and risk-adjusted performance, as well
as performance that exceeds the performance required to fulfill the duties set out
in the employee's job description as part of the terms of employment. Variable
remuneration is not guaranteed or automatically carried over from one year to the
next. The mechanisms for distributing the variable component do not guarantee the
award of amounts over several years. Variable remuneration is subject to an annual,
fair review process.
In order to provide financial stability to its employees, in February 2025, Banca Transilvania
indexed the salaries of all bank employees to the inflation index for 2024. A favorable
organizational climate promotes employee well-being and increases their desire to be
involved and productive.
As part of its 2025 remuneration policy, Banca Transilvania maintained the current benefits
granted to employees at the same level, ensuring their continuity in line with previous years'
practices, in order to support a stable working environment and maintain a predictable
framework geared towards long-term stability and retention.
EMPLOYEE WELLBEING, SAFETY, AND PROTECTION
Caring for employees is central to how Banca Transilvania builds its long-term performance
and sustainability. Through continuous investments in employee health and experience,
Banca Transilvania reaffirmed in 2025 its belief that sustainable financial performance is
directly linked to the level of involvement, competence, and trust of the people who
contribute daily to the organization's success.
Thus, traditional projects with a direct impact in the area of prevention were continued,
such as:
• The "Screening Saves Lives" program, an initiative to detect the most common
types of cancer, developed and run in collaboration with the Regina Maria Clinic
Network. Banca Transilvania is perhaps the only company in Romania that offers
such a program to all its employees, and all investigations within the program are
free of charge. In 2025, 2,940 screening packages were performed, and in cases
where cellular changes were detected, prompt treatment saved lives.
• Voluntary health insurance, available to BT employees who have opted for this
benefit, covers medical expenses resulting from accidents or illness, surgical
procedures, with the additional option of a second medical opinion, as well as
hospitalization and convalescence. By the end of October 2025, the insurance had
been used by 2,979 colleagues who had opened a total of 5,022 claims.
• Provision of additional medical benefits in a co-payment system: 71 complex
imaging investigations (MRI and CT) as well as access to kinesitherapy and
physiotherapy services at Kinetic medical clinics.
• Medical visits by a Medical Advisor at the bank's headquarters.
• Program for parents returning from parental leave: the program helps with the
gradual reintegration of employees after an absence of approximately two years.
Parents have a flexible schedule during their first month back. Based on the positive
feedback received after the launch of this program, this method of gradual
reintegration into professional life for mothers has been maintained.
WELLBEING INITIATIVES & INTERNAL ACTIONS
Banca Transilvania has strengthened its wellbeing area by introducing two framework
concepts: #GrijăDeTine (Care for Yourself) and #BineCuTine (Good for You), which have
enabled the unified structuring of initiatives dedicated to physical, emotional, and mental
health. The use of these visual labels has contributed to increasing the visibility of the
programs among employees, facilitating quick orientation in the range of communication
resources available internally.
#GrijăDeTine – Physical health, prevention, and medical education
Programs and actions dedicated to prevention and the promotion of a healthy lifestyle were
carried out:
Health webinars
A series of online sessions led by medical specialists (dermatology, pediatrics, mental
health), who provided practical and accessible information. In 2025, over 650 employees
participated in these meetings.
Health assessments
• Enayati Medical City specialists performed physical assessments for 48 employees
in Bucharest.
• Evista partners provided medical optical services (via Diopron) for over 250
employees during two dedicated sessions.
Blood donation campaigns
Four donation sessions were organized in partnership with the Blood Transfusion Centers
in Cluj-Napoca and Bucharest. Approximately 400 employees participated, of which 346
actually donated blood. The initiative focused on both volunteering and raising awareness
about the importance of donation.
Educational videos and podcasts
Materials were produced and promoted to encourage prevention and the effective use of
medical services offered to employees, such as:
• About the concierge doctor – Enayati Medical City
• Second medical opinion
• What the BT subscription includes
• The Enayati clinic network
• First aid – recorded webinar
• Premenopause – educational webinar
• Carefree summer – Regina Maria
• Modern psychology: ADHD, OCD – Regina Maria
#BineCuTine – emotional wellbeing, balance, and lifestyle
This category included programs that impact emotional, relational, and behavioral
wellbeing:
Urban Camp – program for employees' children
An internal project dedicated to children aged 7 to 13, hosted at BT's headquarters. The
program included thematic workshops coordinated by psychologists, educators, and
actors, offering an educational and recreational experience in a safe environment, close to
their parents. The initiative contributed to creating a balance between personal and
professional life. Over 52 children participated in the dedicated sessions at the
headquarters in Bucharest and Cluj.
Awareness of the importance of correct posture at the office & "Wellness moments by
7card"
Internal campaign (via BT HuB) and practical office exercise session, supported by certified
instructors, with the aim of preventing physical discomfort associated with office work and
promoting daily movement.
"Let's Work Smart" – campaign for efficiency and prioritization
Organizational education program to optimize work methods, reduce overload, and adopt
sustainable practices in managing daily tasks.
Video resources and podcasts for emotional balance
Recorded educational materials focused on emotional and psychological health, such as:
• About psychotherapy – Regina Maria
• The code of male health: body, mind, and balance
• Understanding and overcoming the midlife crisis
Therapy and psychological assistance services for problems related to anxiety, stress,
etc.
• Over 134 hours of internal psychological counseling, supporting the 39 colleagues
who requested assistance.
• A series of articles and advice in the field of psychology, under the umbrella of
Wellbeing, which can be accessed on the bank's intranet (BT Hub).
CREDIT RATINGS
The recent assessments by Moody’s and Fitch outline a complex risk profile, in which BT’s
structural strengths coexist with macroeconomic and sovereign pressures that directly
influence the rating outlook. These effects are reflected across the main risk categories:
sovereign, credit, capital, liquidity, and operational risk.
In November 2025, Moody’s Ratings upgraded Banca Transilvania S.A.’s long‑term deposit
ratings to Baa1 from Baa2 and revised the outlook to negative from positive. At the same
time, it upgraded the bank’s long‑ and short‑term issuer ratings to Baa2/P‑2 from Baa3/P‑3
and changed the outlook on the long‑term issuer rating to stable from positive.
The confirmation of the basic rating (Ba1) reflects BT's solid capitalization and robust
profitability, supported by its leading position in the Romanian banking market and a good
operational efficiency.
The stable outlook on the bank's long-term issuer ratings reflects the bank’s financial
performance, and the expectation that its capital and profitability will remain resilient
despite macroeconomic headwinds.
In 2025, Fitch maintained Romania’s and Banca Transilvania’s sovereign and bank ratings
at BBB‑, thereby preserving their Investment Grade status, but reaffirmed the negative
outlook due to persistent macroeconomic imbalances.
The Fitch rating reflects Banca Transilvania's solid and well-established position in the
Romanian banking system, as well as robust capital buffers supported by strong internal
capital generation, a stable funding profile and reasonable asset quality, underpinned by
conservative underwriting. The result confirms BT's track record in prudent risk
management, sound lending policy, as well as the bank's operational efficiency.
The objective of Banca Transilvania Financial Group in terms of risk management is the
integration of the risk appetite within the bank’s decision-making process, by promoting
the adequate balance between the assumed risks, the available capital and the
performance targets, considering at the same time the tolerance to financial and non-
financial risks.
In determining its appetite, capacity and risk tolerance, the BT Financial Group shall take
into account all material risks to which it is exposed taking into consideration the specificity
of its activity, business model, strategic and operational objectives, and applicable capital
and liquidity requirements, its own risk management and control capacities, as well as the
regulatory constraints.
The risk appetite within the Banca Transilvania Financial Group defines the maximum level
the Group is willing to accept in order to achieve its strategic and business objectives. The
overall approach is structured through the Risk Appetite Framework, which includes the
Risk Appetite Statement (RAS), quantitative risk limits complemented by qualitative
principles, as well as clearly defined roles and responsibilities for implementation and
oversight.
Risk tolerance represents the level and types of risks that the bank, although not
deliberately seeking to assume, is willing to accept under certain conditions, within a
rigorous control environment. It reflects the concrete operational boundaries of the risk
appetite assumed at the institutional level.
The risk management framework within the BT Financial Group is based on the following
principles that apply to all activities and risk types:
• the existence of a solid culture in terms of risk management, both at the level of the
Group’s structures and at the level of its business lines;
• protection of the financial stability: The Group controls the risk in order to limit the
impact of potential adverse events on the capital and profitability;
• limiting excessive risk-taking; the Group's risk appetite and tolerance must be
consistent with its financial resources;
• ensuring a sound and sustainable capital and funding base;
• independent perspective: the risk management function is structured so as to
identify, assess, monitor and report risks; the risk management function, as well as
the compliance and internal audit functions operate independently of the activity
lines that they monitor and control, in order to ensure the integrity of the Group’s
control processes;
• portfolio diversity in order to prevent excesive concentration risks;
• limiting concentrations and volatility of income sources;
• homogenous approach and global risk monitoring at Group level;
• compliance with the rules and regulations imposed by national and international
authorities in the field;
• existence of certain operational continuity plans for the banking activities;
• drafting and periodic revision of the recovery plan at the level of the BT Group;
• BT Financial Group does not carry out activities in jurisdictions that reduce
transparency, such as off-shore jurisdictions, or via certain structures that decrease
transparency.
Risk management is an integral part of all decisional and business processes that take place
in the Banca Transilvania Financial Group and in this regard, the management team:
• Continuously assesses the risks likely to affect the business and goals and takes
actions whenever any changes appear in its business conditions.
• Ensures the existence of an adequate activity management framework within the
Group, considering both internal factors (the complexity of the organizational
structure, the nature of the activity, staff quality and fluctuation) and external
factors (macroeconomic factors, legislation changes, competition changes in the
banking sector, technological progress);
• Identifing the risks: The Group’s exposure to inherent risks through day-to-day
operations and transactions (including lending, dealing, capital market activity,
asset management and other specific activities) is identified and aggregated
through the risk management infrastructure implemented at the Group Level;
• Assesses/measures risks: An evaluation of the identified risks is carried out through
specific models and calculation methods: a system of ratios with related limits, a
methodology for assessing the risk events likely to generate losses, calculation
methodology for specific credit risk provisions, assumptions regarding the future
evolution of assets’ value, etc.;
• Monitors and controls risks: The policy and the procedures implemented for an
effective risk management are meant to mitigate risks inherent to the bank’s
business. The bank implemented procedures for the supervision and approval of
decision and trading limits per person/ unit/ product etc. Such limits are monitored
daily/ weekly/ monthly depending on operations.
• Reports the risks: Periodic and transparent reporting mechanisms have been
established for specific risk categories so that the management body and all
relevant structures benefit in a timely manner from accurate, concise, intelligible and
meaningful reporting, but can also exchange relevant information on the
identification, measurement or assessment and monitoring of risks;
• Calculates and evaluates internal capital and internal capital requirements: In order
to assess the adequacy of the internal capital to risks at Group level, all the
significant risks to which the Group is or may be exposed to are identified and
assessed, by a continuous evaluation of the internal capital and internal capital
requirements, to cover the bank’s business needs and of the related risks, including
through stress tests.
The risk management framework includes internal regulations, risk limits and risk control
mechanisms, adapted to the proper functioning, financial soundness, capital base and
strategic objectives of the credit institution, which ensure proper, timely and continuous
identification, assessment, monitoring, mitigation and reporting of the risks related to the
bank's activities, as a whole, as well as at the business lines’ level (Large Corporate,
Corporate, SME, micro and retail).
The main risk categories to which the BT Group is exposed to, are:
• Credit risk;
• Liquidity and credit risk;
• Operational risk;
• Market risk;
• Interest rate risk in banking book;
• Counterparty credit risk
• Reputation risk;
• The risk associated with excessive usage of leverage;
• Strategic risk;
• Capital risk;
• Compliance risk;
• ESG risk.
Banca Transilvania aims to maintain a balanced risk profile, calibrated at a medium level,
in line with its business model and sustainable growth strategy. The risk appetite for each
significant risk is explicitly defined within the corresponding governance framework and is
continuously monitored through a structured set of relevant indicators.
These indicators allow for the continuous assessment of the risk position, the early
identification of deviations from established limits, and ensure that operational and
strategic decisions are carried out within the boundaries of the risk profile assumed by the
bank
CREDIT RISK
Banca Transilvania manages credit risk in line with a solid risk management culture,
emphasizing portfolio quality, capital protection, and sustainable value creation. Credit risk
governance is embedded within a fundamental internal regulatory framework, which
includes the risk strategy, the general lending standards and rules applicable to both
individuals and legal entities, the counterparty and country risk policies, as well as the
procedures associated with collection, remediation, and restructuring processes. Taken
together, these documents define the principles, risk thresholds, and responsibilities
regarding the assumption of credit risk across all business segments.
The credit risk coordination process ensures that exposures are originated, monitored, and
managed in accordance with the Bank’s strategic objectives and risk appetite, both
qualitative and quantitative, as approved by the Board of Directors. Internal rules are
periodically updated to ensure alignment with evolving regulatory requirements.
The Bank applies a differentiated approach to credit risk, tailored to the specific
characteristics of each portfolio and grounded in internal models, prudent assessment
processes, and strong governance principles.
The methodologies used ensure rigorous client creditworthiness assessment, appropriate
collateral structuring, and continuous monitoring of exposures, contributing to the
maintenance of a balanced and sustainable portfolio.
1. Large Corporate & Corporate Portfolio
• The Bank offers both standard products and customized financing solutions
tailored to clients’ specific needs.
• Financing conditions vary depending on the debtor’s risk profile, including
thresholds regarding maximum loan amounts, collateral levels, and pricing
structure.
• The internal rating acts as a central tool in eligibility assessment, being used to
determine collateral requirements and differentiated pricing.
• ESG assessment is integrated into the credit decision process to ensure long-term
sustainability and resilience of the portfolio.
2. SME & Microenterprise Portfolio
• Risk assessment combines qualitative and quantitative factors reflecting the
operational specifics of the SME segment.
• The Bank uses internally developed scoring models, statistically validated and
calibrated according to turnover, entity type, and client exposure.
• Three separate scoring models are applied: SME, Micro, and Sole Proprietors
(PFA), each adapted to the specific profile of the segment.
• For PFA/II/IF clients, the assessment relies primarily on qualitative criteria
(transaction history, payment behavior, location, sector of activity).
3. Retail Lending Portfolio
• Clients are classified into risk categories based on scoring models that integrate
internal data, information from the Credit Bureau, and socio-demographic
variables.
• The scoring reflects the probability of default and is used to determine eligibility
and pricing structure.
• Debtors exposed to foreign exchange risk or fixed-rate risk are informed about the
potential negative impact of adverse exchange rate or interest rate developments,
through explicit scenarios presented during the granting process.
4. Interbank Exposure Portfolio
• The Bank aims to minimize losses and maintain risk-adjusted profitability in its
relationships with banking counterparties.
• Exposure limits are set based on the counterparty rating, the risk appetite, and
own funds, complying with the maximum concentration threshold of 25% of Tier 1
capital.
• Exposures are monitored daily using automated systems and early-warning
indicators to identify risk deterioration.
• Mitigation mechanisms include rating adjustments, limit reviews, and transferring
counterparties to enhanced monitoring.
5. Sovereign Exposure Portfolio
• Country exposure limits are established according to the Risk Appetite Framework
and external ratings, and approved by the Financial Institutions Credit Committee.
• Exposures are reviewed annually and adjusted based on updated risk
assessments.
• No formal limit is applied for Romania, given its strategic importance and
compliance with capital and concentration requirements.
• Exposures to foreign entities are monitored only in countries where relevant
activity exists, and limits are tracked daily and adjusted through clear procedures
in case of breaches.
• External ratings are updated monthly to accurately reflect developments in
international markets.
The credit risk management at the level of the BT Group is realized by:
• Governance framework, policies, and organizational structure: the Group
operates based on a unified internal framework of strategies, policies, and rules,
reviewed periodically to ensure alignment with the risk appetite and prudent lending
practices. Governance is supported by a dedicated organizational structure, with
clearly defined roles and responsibilities for credit risk oversight.
• Management and monitoring: the entire credit lifecycle is managed through
coherent processes of approval, monitoring, and control, supported by periodic
reporting and independent assessments. Regular reviews are conducted to enable
early identification of risk elements and the implementation of corrective measures,
facilitating the optimization of lending rules, the updating of policies, and the setting
of sectoral limits in line with the risk appetite.
• Internal credit risk models: internal rating systems are continuously enhanced and
subject to periodic reviews, calibrations, and validations, in accordance with model
risk governance, as part of each model’s lifecycle.
• Collateral management: control over collateral quality and coverage is
strengthened through diversification, rigorous eligibility and valuation criteria,
appropriate protection mechanisms, and periodic independent revaluations, with
residual risk monitoring and reporting to management for timely decision-making.
The credit risk appetite is continuously monitored through a set of supporting indicators
and strategic limits that reflect both portfolio quality and the evolution of risk over time,
while the internal customer rating represents a central element in assessing and tracking
this risk, contributing to a prudent and proactive framework for managing exposures.
LIQUIDITY AND FUNDING RISK
The appetite for liquidity and funding risk is continuously monitored through a set of
supporting indicators and strategic limits, which reflect the structural correlation of the
bank's assets and liabilities, as well as the evolution of risk over time, contributing to
stability and ensuring the capacity to meet obligations. The purpose of liquidity risk
management is to obtain the expected returns on assets by taking advantage of temporary
excess liquidity and through an efficient allocation of the resources attracted from
customers, in the context of a proper management, consciously assumed and adapted to
the Romanian and international financial-banking market conditions, as well as the general
economic context, the current legal framework and the development targets of the BT
Financial Group. Liquidity management is realized centrally and aims to combine prudential
requirements with profitability requirements.
In liquidity management, Banca Transilvania applies a series of principles regarding the
quality, maturity, diversity and degree of the assets and liabilities risks, while establishing
carefully monitored sets of limits to ensure the compliance with the principles and also with
the set returns (concentration, liquid, eligible assets etc.).
For a sound liquidity risk management, BT is constantly focused on obtaining liquidities via
treasury operations, external financing, capital markets, etc., by considering various factors
such as the issuer’s rating, the issuance maturity and volume of the exposures and the
analysis of the markets on which it trades.
The operative (intraday) liquidity management is realized through all the operations carried
out by the bank’s departments, so as to ensure the performance of all the settlements /
payments of the bank carried out by the bank on its behalf or on behalf of its customers, in
RON or FCY, on the accounts or in cash, within the internal, legal and mandatory limits.
BT also takes into account a liquidity reserve (buffer), in order to cover the additional
liquidity need that may arise over a short period of time, under stress conditions,
periodically tested based on different crisis scenarios.
During 2025, the bank recorded very good levels of liquidity indicators thus demonstrating
a solid position, registering a more than comfortable liquidity level in a fragile overall
economic context.
As well, attention is given to:
• correlation of the growth rate of resources/loans;
• diversification of the range of instruments used and of the IT systems, correlated
with the institution's risk appetite;
• monitoring of liquidity coverage ratio (LCR) and the net stable funding ratio (NSFR)
• adequate capital allocation;
OPERATIONAL RISK
Operational risk represents the risk of direct or indirect loss resulting either from the use of
inadequate internal processes, internal systems, and human resources, or from their failure
to function properly, as well as from external events and actions.
The objective of managing operational risk within the Banca Transilvania Group is to
support sustainable and controlled growth of the bank’s activity by integrating a solid and
adaptable risk management framework. Through a proactive approach to risks, Banca
Transilvania aims to support responsible business development while maintaining
operational resilience and compliance with applicable regulations.
This framework enables identification, assessment, monitoring, and mitigation of
operational risks in line with the assumed risk appetite, thereby contributing to protecting
the organization’s value, ensuring operational continuity, and achieving strategic
objectives.
The key principles of the operational risk management framework are:
• Clear governance and responsibilities – through dedicated structures for
operational risk management (committees, risk functions, internal audit) and the
application of the “three lines of defense” model, ensuring separation of
responsibilities and independence of control functions;
• Risk-oriented organizational culture – by promoting a risk-aware culture at all
levels of the organization, continuous training, internal communication, and
encouraging proactive incident reporting;
• Identification and assessment of risks (including conduct risk) through process
mapping and assessment of associated risks, periodic evaluations, stress
scenarios, and the use of RCSA (Risk and Control Self-Assessment)
methodologies;
• Formal Product Approval Process, with the involvement of risk and compliance
functions;
• Fraud risk management;
• Management of ICT and cybersecurity risks through continuous assessment of
risks associated with information technology, including data security, system
availability, integrity of digital processes, monitoring of emerging risks, and
alignment with applicable regulations;
• Effectiveness of internal controls and mitigation measures through the
implementation of preventive, detective, and corrective controls, process
automation, workflow standardization, and reduction of data redundancy;
• Ongoing monitoring and reporting;
• Incident management and integration of lessons learned;
• Business continuity and operational resilience through the development and
periodic testing of Business Continuity Plans (BCP) and Disaster Recovery Plans
(DRP), assessment of risks associated with critical processes, and strengthening
the organization’s capacity to respond efficiently and in a coordinated manner
during crisis situations.
MARKET RISK
The market risk appetite is continuously monitored through a set of support indicators and
strategic limits, adapted to the structure and size of the financial instruments portfolios,
ensuring the monitoring of risk evolution over time, contributing to maintaining a prudent
and proactive risk management framework. In order to reduce the market risk, the bank
adopted a prudential approach to protect its profits from fluctuations in prices, interest
rates and exchange rates on the market, which all represent exogenous, external,
independent factors. The Bank implements a series of principles in terms of quality,
maturity, diversity and risk degree of the constitutive elements of the financial instruments
portfolios. (bonds, shares, fund units).
Banca Transilvania performs a daily evaluation for financial instruments portfolios, utilizing
directly available closing prices, coming from independent sources, such as: prices on the
stock exchange, electronic quotations, quotations from several independent, well-known
brokers, in accordance with the applicable internal regulations and monitors daily
variations, using backup plans, immediately applicable, in case of unstable market
conditions.
The market risk analysis is based on the two main risk sub-categories listed below, with
the purpose of combining the prudential and profitability requirements:
• Interest rate and pricing risk: The management of this type of risk is adapted and
permanently adjusted to the Romanian and international financial-banking market
conditions and the general economic background. The interest rate risk is monitored
daily and tested in crisis simulations performed for the bank's securities portfolio,
and the price risk is also monitored daily and tested in crisis simulations related to
the portfolios of shares and funds units held by the bank.
• FX Risk: It represents the risk of recording losses related to the on-balance sheet
and off-balance sheet positions due to unfavorable market fluctuations in the
exchange rates. The Bank applies a series of rules with regard to
operations/positions sensitive to exchange rate fluctuations, the realization,
registration and mark-to-market thereof, as well as the impact of exchange rates on
the bank’s assets and liabilities.
INTEREST RATE RISK IN THE BANKING BOOK
The interest rate risk appetite is continuously monitored through a set of support indicators
and strategic limits, which reflect the maximum accepted level of impact on the economic
value of equity and on net interest income, taking into account the business strategy, loss
absorption capacity, market conditions and the regulatory framework. The Bank has
established a set of strict principles for managing and monitoring this type of risk, which is
based on solid governance, comprehensive risk measurement, the use of robust models,
EVE and NII analysis, and alignment with risk appetite. The interest rate risk management
is to minimize the possible negative impact on the net income, as well as to preserve the
economic value of the equity under the conditions of adverse fluctuations of the interest
rates.
The bank uses management tools such as economic value of equity and net interest
income analysis, stress tests and economic hedge operations, as well as a governance
framework and a system of indicators that ensure the maintenance of a prudent and
proactive interest rate risk management framework.
A detailed analysis of the liquidity and funding, market and interest rate risks is available in
the consolidated financial statements of the BT Group. These were within the risk limits
assumed in the bank's decision-making process, promoting an adequate alignment of the
assumed risks, available capital and performance targets and at the same time taking into
account the tolerance to both financial and non-financial risks.
COUNTERPARTY CREDIT RISK
Counterparty credit risk and settlement risk from exposures arising from derivative financial
instruments and from transactions with over-the-counter financial instruments represents
the risk of losses that may arise as a result of the counterparty failing to meet its contractual
obligations. Banca Transilvania's objective regarding the management of counterparty
credit risk is to adopt a prudent policy regarding the selection of counterparties,
custodians, the management of operations carried out with counterparties and the
maturities of the related operations. The main instrument for managing these risks is the
counterparty limit system implemented for the various types of interbank transactions
based on the rating calculated for each counterparty.
REPUTATIONAL RISK
Reputational risk management is carried out by continuously monitoring the internal and
external threats in terms of reputation, by considering the best partners (both in terms of
customers and suppliers), recruiting and retaining the best employees, minimizing (legal)
disputes, implementing rigorous controls on the activities, preventing crisis situations,
permanently strengthening the credibility of the BT Financial Group, improving relations
with shareholders, creating a more favorable environment for investments and access to
the capital, and assuring a continuous and open communication with all stakeholders
(shareholders, media, customers, partners, employees, authorities, etc.).
The Bank addresses the reputational risk through an integrated framework that combines
prevention, monitoring, rapid reaction and strengthening stakeholder relationships. The
main directions include:
• Promoting an organizational culture based on ethics, transparency and
responsibility, focusing on compliant behaviors and sustainable values, supported
by training and awareness programs dedicated to the employees and management;
• Integrating the reputational considerations into decision-making processes, the
evaluation of the business initiatives and the approval processes for different
products and projects, with the involvement of the relevant structures;
• Media/ social-media monitoring, through automated tools and qualitative analyses,
for early identification of sensitive issues;
• Implementing a robust risk management system, by continuously monitoring the
reputational threats, supported by a dynamic and adaptable system of indicators,
continuously reviewed, to capture changes in the relevant factors;
• Periodic assessment of the reputational risk, with formalized incident reports to
the competent structures;
• Maintaining a procedural framework related to the management of the reputational
crisis, which requires rapid and efficient reactions;
• Cultivating trusting relationships with stakeholders, through proactive
communication, financial education, involvement in social responsibility initiatives
and the use of dedicated tools, to clarify and update expectations;
• Ensuring the compliance and internal control, by applying consistent control
systems to align with legal and corporate requirements.
RISK OF EXCESSIVE LEVERAGE
The risk associated with leverage reflects the possibility that excessive use of debt
financing may lead to financial vulnerabilities, affecting the institution’s ability to absorb
shocks, maintain operational stability, and comply with capital and liquidity requirements.
This risk is closely linked to the bank’s funding strategy, risk appetite, and growth profile.
The framework for managing the risk arising from excessive leverage is built on the
following key principles:
• Protection of financial stability: Banca Transilvania controls leverage risk to limit
the potential impact of adverse events on capital and earnings.
• Limiting excessive risk-taking: the bank’s risk appetite must remain consistent with
its financial resources.
• Ensuring a solid and sustainable capital and funding base.
• Healthy and balanced asset financing: a financing structure is maintained that
takes into account the risk of excessive leverage.
• Portfolio diversification to avoid dangerous concentration risks.
• Limiting the concentration and volatility of revenue sources.
STRATEGIC RISK
The Strategic risk is the current or future risk for profits and capital to be negatively
affected by changes in the business environment, by unfavorable business decisions,
improper implementation of decisions or the low adaptability to changes in the business
environment. The strategic risk appetite has been established as low based on the
following aspects: risk management practices are part of the Group’s strategic planning,
the exposure to strategic risk reflects strategic goals that are not excessively “aggressive”
and are compatible with the developed business strategies, the business initiatives are well
designed and supported by communication channels, operating systems and adequate
delivery networks for services.
The fundamental principles and strategic objectives in managing strategic risk are:
• Ensuring consistent alignment between the business strategy, the bank’s risk
appetite, and its operational capacity, so that strategic objectives remain
sustainable and compatible with the assumed risk profile;
• Continuously monitoring and assessing macroeconomic, political, technological, and
regulatory developments in order to anticipate their impact on the bank’s strategic
directions;
• Conducting periodic analyses of the risks associated with strategic initiatives;
• Ensuring the active involvement of senior management in the assessment and
approval of strategic decisions, supported by internal control functions and the
relevant risk committees;
• Using a dedicated set of metrics to monitor deviations from strategic objectives,
assess implementation effectiveness, and measure the institution’s organizational
adaptability.
In order to ensure sound strategic risk management, the BT Group conducts regular
reassessments of its business strategy and of the impact of strategic decisions, draws up
plans for the introduction of new business lines, products and services, for the expansion
of existing services and for the infrastructure consolidation. The Group also performs
analysis of the business environment in which it operates in order to identify and highlight
the strategic risk factors to which it is exposed, aligning business decisions with
institutional capacity, market conditions, and the applicable regulatory framework.
CAPITAL RISK
Capital risk represents the significant risk associated with the credit institution’s ability to
maintain an adequate level of own funds, ensuring coverage of all risks to which the bank
is exposed through its activities, with a potentially material impact on its financial
soundness and its ability to comply with prudential requirements.
Risks to capital are distinct risks which, if materialized, may have a significant prudential
impact on the credit institution’s own funds over the following 12 months. Capital risk is
addressed from the perspective of the minimum capital requirements necessary to cover
all risks to which the bank is or may be exposed.
The bank’s objective regarding capital risk management is to maintain alignment between
the strategic targets set through the Business Strategy and the assumed risk appetite,
while ensuring financial stability, safeguarding the bank’s reputation, and complying with
the applicable regulatory framework.
The capital risk management process, namely the internal capital adequacy assessment
process, forms an integral part of the bank’s governance framework and decision‑making
culture, being embedded in the overall risk management practices, as capital risk is
managed through:
a) the group‑level strategic planning process;
b) ensuring the continuous effectiveness of the risk appetite framework;
c) the risk management process and capital management, including
forward‑looking funding strategies;
d) the group’s recovery plan, by incorporating management actions with
material impact;
e) monitoring capital adequacy indicators to timely identify and assess potential
threats;
f) drawing practical conclusions and undertaking preventive actions.
Capital planning is an essential process for ensuring the resources required for the efficient
execution of the bank’s operational and investment activities. It is closely linked to
shareholder interests and to maintaining an adequate level of own funds in line with
European, national, and internal capital requirements to cover the risks associated with the
bank’s activities. Additionally, in order to ensure an optimal stock of own funds and liabilities
capable of absorbing potential losses and covering recapitalization needs—namely to meet
the MREL requirement imposed by the NBR as the Resolution Authority—the bank has
adjusted its capital and funding planning process by integrating specific actions aimed at
accumulating additional capital instruments and eligible liabilities. The means of securing
these resources are determined by the competent governing bodies, depending on the
most favorable context for the bank and its shareholders at the time of decision.
CAPITAL ADEQUACY
Capital adequacy within Banca Transilvania is ensured through the Internal Capital
Adequacy Assessment Process, a structured and integrated framework that forms part of
the institution’s governance mechanism and decision-making culture. The main objectives
of this process are:
• ensuring the capital necessary for conducting activities prudently;
• maintaining own funds at a level at least equal to the capital requirements set by
European and national regulations, as well as internal rules, for covering the risks
undertaken.
The Internal Capital Adequacy Assessment Process provides an integrated approach to
identifying, measuring, aggregating, and monitoring significant risks, as well as determining
the internal capital required in relation to the Bank’s risk profile. It is embedded in strategic
planning, capital management, the assessment of the effectiveness of the risk appetite
framework, and the continuous monitoring of capital adequacy indicators, contributing to
the early identification of potential vulnerabilities and the timely adoption of appropriate
measures.
A key component of this framework, stress testing evaluates capital resilience under
adverse scenarios. The results are analyzed in connection with the thresholds established
within the Risk Appetite Framework and contribute to strengthening prudent and proactive
risk management.
For determining minimum capital requirements, Banca Transilvania and the BT Financial
Group use the standardized methods prescribed by regulations:
• Credit risk and counterparty credit risk: the method used for calculating
risk-weighted assets is the Standardized Approach;
• Credit Valuation Adjustment (CVA) risk:
the bank applies the Basic Approach.
• Market risk: for determining the capital requirement related to foreign exchange risk
and the trading book, the Standardized Approach is used;
• Operational risk: for calculating the capital requirement for operational risk, the Bank
applies the Business Indicator Component (BIC) methodology.
Through the Internal Capital Adequacy Assessment Process, the Bank ensures that it
permanently maintains sufficient capital resources to cover the risks undertaken and to
support sustainable development, maintaining a solid financial position consistent with the
Group’s strategic objectives.
BT Financial Group dynamically manages its capital base by monitoring capital rates
according to Regulation no. 575/2013, as well as the capital rates disposed following the
monitoring and assessment process carried out by the supervisory authority, anticipating
the appropriate changes necessary to achieve its objectives, as well as optimizing the
structure of assets and equity.
Planning and monitoring take into consideration the total own funds (tier 1, additional tier 1
and tier 2) on the one hand and own funds requirements, respectively risk-weighted
exposures (RWA) on the other hand.
In order to ensure that it permanently maintains an adequate level of capital relative to its
risk profile and macroeconomic conditions, BT develops a proactive capital planning and
adequacy framework, built on four main pillars:
• Compliance with the rules and regulations imposed by national and international
authorities in the field;
• Robust internal governance for capital planning and adequacy;
• Use of stress‑testing results in determining capital needs; and
• Continuous enhancement of the capital planning and adequacy process.
COMPLIANCE RISK
The BT Financial Group’s objective regarding the compliance risk management is to avoid
the current or future risk of affecting profits and capital, which may lead to fines, damages
and / or termination of contracts or which may damage the Group’s reputation as a result
of violations or non-compliance with the legal and regulatory framework, agreements, best
practices or applicable ethical standards.
The BT Financial Group establishes and operates a formal, continuous, and effective
compliance framework designed to ensure full adherence to applicable legal requirements,
prudential regulations, and ethical standards, built upon the following key principles:
• Ensuring full compliance with the internal regulatory framework, applicable legal
requirements, and the measures, recommendations, and expectations set by the
supervisory authority;
• Implementing and maintaining a robust compliance program, based on clear policies
and procedures, covering both general compliance and high‑risk areas;
• Conducting continuous, proactive, and risk‑oriented monitoring of processes,
transactions, and client relationships to enable early identification of compliance
incidents and prompt reporting to the relevant management structures;
• Developing and maintaining a training and awareness framework tailored to staff
responsibilities and activities, ensuring consistent application of compliance
requirements;
• Promoting and strengthening an organizational culture grounded in integrity, ethics,
and transparency, including the adequate and well‑documented management of
conflicts of interest.
Continuous monitoring and adherence to the following principles ensure the prerequisites
for the correct compliance risk management:
• development and application of the compliance risk assessment methodologies
through the use of risk indicators;
• monitoring the compliance and communicating results according to the BT reporting
lines;
• analysis of those situations with potential conflict of interest at the bank and
subsidiaries level;
• periodic review of the indicators’ limit, motivated by the occurrence of new risk
events that were not taken into account in the initial assessment;
• formulating proposals of measures leading to the mitigation / elimination of risk
events that generated the increase of the indicators level;
• the determination of the likelihood that compliance risk events may occur in the
future, based on current information.
INTERNAL AND EXTERNAL AUDIT
The general objectives of the 2025 audit focused mainly on risk management, as well as
on the assessment of the overall control system implemented on transactions and / or
processes / flows, covering the entire range of risks. The control system assessment was
carried out in line with the internal audit methodology, one of the main objectives being
that of ensuring the reliability and integrity of financial and operational data, as a result of
an independent and objective evaluation of the internal control system and of the risk
management systems in connection with the financial reporting process.
The internal control framework of the BT Financial Group is structured on three levels:
• functions that hold and manage risks (operational units);
• the functions responsible for risk oversight and for creating and maintaining the
internal control framework and the independent evaluation of risks (the risk
management function and the compliance function)
• the function that provides an independent and objective assessment of the
effectiveness and efficiency of risk management, internal controls, and the
governance process, namely the internal audit function.
Thus, the 1st control level is realized by the operational units, which are responsible for
ensuring an appropriate risk control and prevention environment within each operational
structure/activity, as part of their daily operations; the 2nd and 3rd control levels are
associated with the three independent control functions, as follows:
• the risk management function ensures the management and control of identified
risks by means of specific assessment processes;
• the compliance function ensures the management of compliance risk and the
oversight of compliance with the applicable regulations;
• the internal audit function ensures the objective examination of the BT’s overall
activities, for the purpose of an independent assessment of risk management, of the
internal control system, of the management and execution processes, in order to
support the achievement of the objectives; it also issues recommendations for the
improvement of such activities.
The external auditor, appointed by the General Meeting of Shareholders, independently
examines the bank’s financial statements to assess whether they are, in essence, accurate,
complete, and provide a true and fair view of the institution’s financial position and
performance. The auditor also verifies compliance with the applicable legal framework and
standards governing the financial reporting process. The external auditor of the bank -
Deloitte Audit S.R.L. - has audited the individual and consolidated financial statements of
the bank as of December 31, 2025.
ESG RISKS (ENVIRONMENTAL, SOCIAL AND GOVERNANCE)
Within the context of intensifying global sustainability concerns, 2025 marks a significant
milestone in strengthening the European legislative framework dedicated to ESG risks, with
multiple initiatives supplementing the Omnibus legislative packages related to
Sustainability & ESG Reporting. The European supervisory authorities and relevant
international organizations have launched a series of initiatives aimed at supporting the
green transition, reducing systemic risks and improving consumer protection. Of these,
some of the most representative refer to the integration of the ESG risks into the risk
management and governance framework, aiming at not only the resilience of the banking
sector, but also aligning it with climate neutrality objectives, the banks being encouraged
to consider both the impact resulting from their own activities, and that generated by the
financed activities. EBA/ GL/2025/01 Guidelines on the ESG risk management provides
methodological recommendations on the integration of ESG risks into the credit institutions’
risk management framework, highlighting also the necessity to develop prudential
transition plans to support efforts towards the transition to Net-Zero. Additionally, specific
guidelines for developing crisis scenarios come to complete the necessary actions,
calibrating the institution's approaches, with the business specificity and risk appetite.
Regarding the strategic objectives on ESG risks, the Bank applies an integrated framework
for their supervision, assessment and mitigation, in line with the international regulations
and best practices. Without the enumeration being exhaustive, it implies:
• Continuously updating the ESG risk management framework, based on the
recommendations of the competent authorities, relevant international organizations
and best practices, including initiatives such as conducting GAP analyses to
optimize processes, promoting financial education, diversity, inclusion, and
improving transparency and risk management mechanisms, while strengthening the
principles of business ethics and corporate governance;
• Monitoring the ESG risk profile through indicators, operational limits and recurrent
reports to the management structures, with escalation principles defined by specific
governance;
• Assessing the impact of ESG risks on capital and liquidity;
• Promoting financial inclusion and impact financing, through green, social or
sustainable products;
• Integrating the IFC/ EBRD standards into ESG analysis, including the compliance
with the requirements of the relevant authorities and the use of the exclusion lists;
• Applying the ESG risk analysis in the lending activity, by utilizing a Heat-Map
application;
• Monitoring the carbon emissions and tracking the reduction of the carbon footprint,
both resulting from the Bank’s own operations and from the financed activities;
• Adopting specific sectoral policies pursuing, where appropriate, a phased exit
strategy.
Within the process of aligning with the climate neutrality objectives, the Bank assesses at
least annually the ESG factors, their materiality related to the Bank’s objectives and specific
strategies (e.g. business strategy, risk strategy, sustainability strategy, sectoral strategies,
etc.), reassessing the risk appetite. Additionally, based on a differentiated system of
indicators (depending on the importance/ relevance/ granularity, etc.) it constantly
monitors the evolution of the portfolio and adjusts the strategies, correlated with the
assumed transition plan.
Corporate Governance represents a strategic role in strengthening Banca Transilvania’s
performance. By establishing a clear direction, it contributes to achieving the company's
objectives, adequate risk management, and responsible resource allocation.
As an issuer on the capital market, Banca Transilvania is committed to comply with the
Bucharest Stock Exchange Corporate Governance Code, applying the principles and
requirements set forth therein. Both previous version of the Code and the updated edition,
which came into force on January 1
st
, 2025, can be consulted on the BSE's website. The
first year of reporting compliance with the new Corporate Governance Code of the
Bucharest Stock Exchange is 2026, for the 2025 financial year. In this regard, Banca
Transilvania makes every effort to continuously verify that its shareholders comply with the
legal and regulatory requirements regarding their financial integrity and solidity, as well as
those relating to the influence they may exert on the management of the bank, no aspects
being identified that may contravene these requirements.
GENERAL MEETING OF SHAREHOLDERS – STRATEGIC DECISIONS
The General Meeting of Shareholders (GMS) is the supreme decision-making body of
Banca Transilvania that ensures the strategic management of the Bank, with the
responsibility of setting strategic organizational objectives and allocation of resources
necessary to achieve them.
The decisions of the General Meeting of Shareholders adopted in accordance with the
applicable law and the provisions of the Bank’s Articles of Association are mandatory for all
the shareholders, including for the ones that have not taken part in the Meetings.
Each shareholder has the right to participate in the General Meetings, either in person or
through a representative (BT shareholder or not), based on a special letter of attorney, in
accordance with the applicable law. In compliance with the provisions laid down in the
Articles of Association, the power of attorney must be submitted or sent to Banca
Transilvania five (5) days prior to the date of the meeting (GMS). Legal entities are
represented in the General Meetings by their legal representatives or other authorized
persons in accordance with their statutory documents.
The General Meetings may be Ordinary or Extraordinary and shall be convened by the
Board of Directors, in accordance with the law. They shall be held at the headquarters of
the Bank or at another location, indicated in time through the convening notice.
The convening notice shall be published in the Official Gazette, in a newspaper with
national coverage, and in a widely circulated newspaper in the city where the company's
headquarters are located. The notice shall contain information about the place and date of
the Meeting, as well as the agenda and the meeting date shall not be held earlier than thirty
(30) days as of the convening date.
The Ordinary General Meetings shall be held at least once a year, within a maximum of four
(4) months after the end of the financial year. In addition to discussing other issues on the
agenda, the general meeting is required to:
• discuss, approve or amend the annual financial statements, based on the reports
submitted by the Board of Directors, or, as applicable, the financial auditor, and set
the dividend;
• elect and revoke the members of the Board of Directors;
• appoint and set the minimum duration of the financial audit agreement, as well as to
revoke the financial auditor;
• establish the remuneration of the Board members for the current financial year,
unless it has not been established through the Articles of Association;
• decide on the management of the Board of Directors;
• establish the Revenue and Expenditure Budget and the Activity Plan for the
following financial year;
• decide on the pledge, lending or dissolution of one or several units of the company.
With regard to the repurchase of its own shares, the Board of Directors can initiate the
repurchase procedure only subject to the decision of the Extraordinary General Meeting of
Shareholders, under the conditions governed by Law No. 31/1990 on Companies, as well
as by the capital market legislation. For the validation of the decisions of the Ordinary
General Meetings, the presence of shareholders representing at least thirty-five percent
(35%) of the share capital is required. The decisions shall be taken with the majority of the
votes expressed. On the date set for the second convening, the Meeting is validly
constituted regardless of the quorum (irrespective of the percentage of share capital
represented by the attending shareholders) and the decisions shall be taken with the
majority of the votes of those present.
Members of the Board of Directors may not vote at the Ordinary General Meetings, either
in person or by a power of attorney, in respect of the discharge of their management or on
any other issue relating to their person or activity.
In order for the Extraordinary General Meeting to be validly convened, the presence of the
shareholders representing at least thirty-five percent (35%) of the share capital is required,
whereby the decisions are to be made with the majority of votes held by the present or
represented shareholders (in accordance with Article 115(2) of Law No. 31/1990). If, upon
the first convening, the above quorum is not met, a second meeting shall be held where
the presence of the shareholders representing at least one-fifth of the share capital is
required and the decisions on the issues included in the agenda of the previous
Extraordinary General Meeting shall be adopted by a majority of votes held by the attending
or represented shareholders (under Article 115 (2) of Law no.31/1990 on Companies).
The Board of Directors must convene the Ordinary or Extraordinary General Meeting upon
the request of the shareholders representing at least five percent (5%) of the share capital,
which request must be submitted in writing and justified. In the event of non-compliance,
the competent court at BT’s headquarters may authorize the convening of the meeting, by
appointing a person from among the shareholders to chair the meeting.
The decisions of the General Meeting shall be taken by open vote. Secret voting is
mandatory for the election or the removal of any Board of Director members as well as for
decisions regarding the liability of members of the administrative, management, and control
bodies of Banca Transilvania.
The General Meetings of Shareholders are chaired by the Chairman of the Board of
Directors or by a representative appointed by the Chairman from among the members of
the Board of Director. One to three secretaries from the attendees are also elected to verify
the attendance, indicating the share capital represented by each shareholder attending or
represented, to verify the minutes prepared by the technical secretary regarding the
number of shares represented at the Meeting and compliance with all formalities required
by the applicable law and the Articles of Association.
Banca Transilvania’s shareholders have all the rights conferred by the applicable law and
the Articles of Association of BT, including the provisions of Law no. 31/1990 on Companies,
the banking and capital market legislation, within the limits set by the legal framework and
the Articles of Association.
Such rights include without limitation:
• The right to be informed on the General Meeting of Shareholders - granted to every
shareholder. This implies access to the annual financial statements, Board of
Directors/auditor/censor reports;
• The right to address written questions prior to the General Meeting of Shareholders;
• The right to ongoing information - granted to all shareholders. This implies access
to the Register of GMS Decisions, as well as to the company`s Articles of
Association, within the limits of the law;
• The right to vote of any shareholder who holds shares based on the principle of one
share - one vote;
• The right to dividends if the legal requirements are met;
• The right to request the annulment of the decisions of the General Meeting of
Shareholders- granted to the shareholders who voted against or abstained at the
GMS, within the limits established by law;
• The right to convene the GMS – for shareholders holding at least five percent (5%)
of the share capital;
• The right to add new topics on the GMS agenda - for shareholders holding at least
five percent (5%) of the share capital;
• The right to report censurable acts - applicable only upon the request of a
shareholder holding at least five percent (5%) of the share capital, in which case the
auditors are required to conduct the appropriate investigation.
Additional details regarding the General Meeting of Shareholders, as well as the
shareholders’ rights are available in Banca Transilvania’s Articles of Association, which can
be accessed on the Bank’s website, under the Investor Relations section, in the Corporate
Governance category – General Information. Details regarding the procedure for holding
the GMS are available in the Convening Notice, on BT’s website, under the Investor
Relations section, in the GMS category.
During 2025, Banca Transilvania held two General Shareholders' Meetings, in April and
October. All decisions adopted, supporting materials, related reports, and related
documentation were published in the GMS section of the Investor Relations page
mentioned above, ensuring full transparency and easy access for all shareholders.
In addition to the formal governance process, the Bank maintained a continuous and
constructive dialogue throughout the year, through specific channels, with shareholders,
institutional investors, and voting service providers that support investors in exercising
their voting rights, complying with governance standards, and integrating ESG
considerations into their decision-making processes. Interactions included both regular
exchanges of information and specific clarifications regarding the Bank's policies,
regulatory developments, and issues relevant to corporate responsibility.
Furthermore, the bank reaffirms its commitment to continuously strengthen its relationship
with shareholders and investors, including by expanding communication channels,
improving access to non-financial information, and further integrating ESG principles into
its reporting, dialogue, and corporate strategy activities.
BOARD OF DIRECTORS
The management structure of Banca Transilvania includes the supervisory body, the Board
of Directors and the top management, the Leaders’ Committee.
The top management of the bank is provided by individuals appointed to exercise the
operational management of the credit institution, who are accountable to the management
body for the performance of their duties. Their mandates are exercised in accordance with
the provisions of the management contracts, the applicable regulations of the National
Bank of Romania, the provisions of Law No. 31/1990 on Companies, as well as the bank's
internal regulatory framework.
The management of Banca Transilvania is exercised by a Board of Directors appointed by
the General Meeting of Shareholders for terms of four (4) years. The Board consists of
seven (7) directors, elected by the shareholders at the General Meeting of Shareholders,
either upon expiry of their term of office or on an exceptional basis, in the event of one or
more vacancies. In accordance with the specific regulations issued by the NBR, the Board
of Directors is the body responsible for strategic guidance, coordination, supervision, and
control of the bank's activities, with the responsibility of ensuring prudent, efficient, and
compliant management within the applicable regulatory framework.
Within Banca Transilvania, the Board of Directors has the following structure:
• Chairman of the Board of Directors;
• Vice-Chairman of the Board of Directors;
• five (5) directors - members of the Board of Directors;
The eligibility criteria for the appointment of the Board of Directors are those set out in the
applicable specific legislation, namely Law no. 31/1990 on Companies, Government
Emergency Ordinance no. 99/2006 on credit institutions and the relevant regulations of the
NBR, as well as those set out in the Articles of Association of Banca Transilvania.
After the approval of the nomination by the shareholders at the GSM, but before the actual
takeover of the mandate, each new member of the Board of Directors must obtain prior
approval from the National Bank of Romania, in accordance with the "fit & proper"
assessment requirements applicable to credit institutions.
The members of the Board of Directors are not involved in the Bank's operational activities,
as these responsibilities fall exclusively to the Leaders’ Committee. The role of the Board
is one of supervision and strategic guidance, in accordance with corporate governance
standards and NBR regulations.
Responsibilities of the Board of Directors:
• To monitor the implementation of the strategy and the objectives set out in the
policy statement adopted by the General Meeting of Shareholders, as well as of the
medium-term Strategic Plan, to approve and review the general strategies and
policies relating to the bank’s activity at least once a year;
• To adopt the Activity Plan and the Revenue and Expenditure Budget, the Investment
Program and the Profit and Loss Account, as well as to prepare the Report regarding
the bank’s activity, which are all submitted for approval to the General Meeting of
Shareholders and to prepare the proposals for the distribution of the net profit,
submitted for approval to the General Meeting of Shareholders;
• To approve and implement a Strategic Plan for a minimum period of two (2) years
which is to be reviewed at least annually;
• To approve the Rules of Organization and Administration, the Code of Ethics and
Conduct, the organizational structure, as well as the principles for staff
remuneration and retention, and to approve sound strategies and policies for
establishing new structures and individual exposures towards persons in special
relations with the bank;
• To supervise the management of the compliance risk;
• To create the necessary conditions for an independent, permanent and efficient
compliance function;
• To approve the annual Compliance Program of the Bank and its subsidiaries, as well
as the selection and suitability assessment processes for persons holding key
positions;
• To oversee the reporting and communication processes with the National Bank of
Romania;
• Ongoing assessment of the capital adequacy in relation to risks, ensuring that
capital allocations are in line with the risks assumed both for the credit institution
and for its subsidiaries;
• To approve the recording of losses and major expenses for fixed assets and leasing,
within the limits of the powers established by the Bank's internal regulations;
• To approve the contingency, business continuity, and recovery plans, in accordance
with the applicable regulations;
• To approve the accounting policies, the financial control system policies, as well as
the significant risk management policies;
• To approve other significant exposures and operations of the Bank, including
exposures to affiliated parties and shareholders with significant holdings, setting
credit-related limits, initiating enforcement proceedings, approving loans and
borrowings granted above the established limits, approving operational budgets,
major or related-party transactions, debt and financing with significant impact, as
well as approving remuneration policies, measures regarding participations,
acquisitions, outsourcing, internal regulations and risk limits in accordance with
internal regulations and the powers established by the Board of Directors;
• To approve other internal policies and rules, in accordance with the Bank’s Rules of
Organization and Administration.
The Board of Directors meets, as a rule, quarterly and whenever necessary, including when
operational or regulatory circumstances require, the meetings being validly constituted in
the presence of at least half of its members. The Board may also exercise its specific
powers through specialized committees set up at its level, consisting of three–four (3-4)
members and operating on the basis of the mandates received and in accordance with the
legal requirements applicable to each forum. The committees established at the level of
the Board of Directors are: the Audit Committee, the Remuneration Committee, the
Nomination Committee, and the Risk Management Committee. These support the Board in
exercising its supervisory role through specialized analysis, independent evaluation, and
the drafting of recommendations in their areas of expertise. The activity of the Board of
Directors and its committees are governed by terms of reference and procedural rules
aligned with corporate governance principles, which are published on the BT website.
In 2025, the Board of Directors met in person seven (7) times. In determining the
attendance rate at the meetings presented below, both physical presence and objectively
justified absences were taken into account, in accordance with the bank’s practices.
The structure of Banca Transilvania’s Board of Directors and the professional expertise of
its members as of December 31, 2025, is as follows:
MEMBER
POSITION
PERSONAL DATA
HORIA CIORCILĂ
Date of first election:
April 2002
Duration of the current
mandate: April 2022- April 2026
Non-executive director
BoD attendance in 2025: seven
(7) out of seven (7) meetings
Chairman
Technical University of Cluj-Napoca, The
Faculty of Automatic Control and
Computers. The CV including information
about other current positions held is
available here.
THOMAS GRASSE
Date of first election:
April 2014
Duration of the current
mandate: April 2022- April
2026
Independent non-executive
director
BoD attendance in 2025: seven
(7) out of seven (7) meetings
Vice-Chairman
Bankakademie Frankfurt-Business School
of Finance and Management.The CV
including information about other current
positions held is available here.
IVO GUEORGUIEV
Date of first election:
April 2014
Duration of the current
mandate: April 2022- April 2026
Independent non-executive
director
BoD attendance in 2025: seven
(7) out of seven (7) meetings
Member
MBA, Alberta University, Edmonton,
Canada. The CV including information
about other current positions held is
available here.
VASILE PUȘCAȘ
Date of first election:
April 2012
Duration of the current
mandate: April 2022- April 2026
Independent non-executive
director
BoD attendance in 2025: seven
(7) out of seven (7) meetings
Member
Babeş- Bolyai University, Cluj-Napoca,
Faculty of History and Philosophy PhD in
History. The CV including information
about other current positions held is
available here.
MIRELA BORDEA
Date of first election:
April 2017
Duration of the current
mandate: April 2022- April 2026
Independent non-executive
director
BoD attendance in 2025: seven
(7) out of seven (7) meetings
Member
Bucharest University of Economic
Studies, External Trade Department. The
CV including information about other
current positions held is available here.
LUCYNA STANCZAK
WUCZYNSKA
Date of first election:
April 2022,
Duration of the current mandate:
April 2022- April 2026
Independent non-executive
director
BoD attendance in 2025: seven (7)
out of seven (7) meetings
Member
Postgraduate Studies – Advanced
European Studies at the College of
Europe, Bruges, Belgium, Economics and
European Integration. CV, including
information on current positions held in
other company here.
FLORIN PREDESCU
VASVARI
Date of first election:
April 2022
Duration of the current mandate:
April 2022- April 2026
Independent non-executive
director
BoD attendance in 2025: seven
(7) out of seven (7) meetings
Member
PhD in Accounting, Rotman School of
Management, University of Toronto,
Canada (Specialization in Finance and
Econometrics). CV, including information
about current positions held in other
companies here.
COMMITTEES REPORTING TO THE BOARD OF DIRECTORS
Audit Committee
Mr. Ivo Gueorguiev – Chairman, Mr. Thomas Grasse – Member; Mrs. Mirela Bordea –
Member
Remuneration Committee
Mr. Vasile Puşcaş – Chairman; Mr. Horia Ciorcilă – Member; Mr. Ivo Gueorguiev – Member
Nomination Committee
Mr. Florin Predescu Vasvari – Chairman; Mr. Horia Ciorcilă – Member; Mr. Ivo Gueorguiev –
Member
Risk Management Committee
Mr. Thomas Grasse - Chairman, Mr. Ivo Gueorguiev - Member; Mr. Florin Predescu Vasvari
– Member; Mrs. Lucyna Stanczak-Wuczynska – Member.
The Secretary of the Board of Directors, as well as of the Board Committees is ensured by
a secretary, i.e. Mrs. Ioana Olănescu, Senior Executive Director, Corporate Governance and
Non-Credit Legal Affairs..
The Board of Directors currently comprises six (6) independent directors and consists
entirely of non-executive directors.
In 2025, the Nomination Committee conducted the annual assessment of the suitability of
the Board of Directors and its committees, in accordance with applicable regulations and
the bank's internal policies. The assessment covered both the collective and individual
composition of the Board members, analyzing their skills, professional experience,
diversity, reputation, time allocated to the position, and independence of thought. As a
result of this process, no weaknesses or significant issues were identified that would affect
the proper functioning of the Board or its committees.
Banca Transilvania applies a formalized framework for assessing the suitability of the
management body, in accordance with the regulations of the National Bank of Romania and
the european requirements for the governance of banking institutions. The policy on
assessing the adequacy of the management body can be accessed on the BT website, in
the Investor Relations section, under Corporate Governance, Declaration of Compliance
being accessible to all interested parties. The same section also includes detailed
information on the Remuneration Policy regarding the Bank`s Management Body, reflecting
principles of prudence, proportionality, and alignment with the institution's strategic
objectives. Together, these instruments, the periodic assessment of suitability, governance
policies, and remuneration policies contribute to maintaining a solid, transparent
management framework in line with best practices in the financial market, strengthening
the balance between strategic oversight and operational management of the bank.
AUDIT COMMITTEE
Purpose, responsibilities and principal duties
The Audit Committee within the Board of Directors carries out its activities based on the
applicable legal framework: Law No. 31/1990 on Companies, Law No. 162/2017 on the
statutory audit of annual financial statements and consolidated annual financial statements
and on the amendment of certain legislative provisions, NBR Regulation No. 5/2013 on
prudential requirements for credit institutions and the Rules of Organization and
Administration of Banca Transilvania. The number of members and the powers of the
Committee are approved by the Board of Directors.
The Audit Committee is responsible for overseeing the performance of the external
auditors and providing recommendations regarding their appointment, renewal of mandate,
and remuneration. It also evaluates the functioning of the internal audit system, developed
under the responsibility of the Internal Audit Division’s management, which reports directly
to the Board of Directors on this system. The Committee may issue recommendations to
the Board of Directors regarding the effectiveness of the internal audit department’s
performance, as well as regarding the establishment and review of the remuneration of the
head of this Division, in accordance with independence and objectivity requirements set
out in the applicable regulations.
The committee members meet periodically with the Bank’s external auditor to analyze
matters arising during audit missions, as well as the responses provided by the Bank’s
executive management to those findings. During these meetings, the Committee also
assesses the degree of objectivity and independence of the opinions expressed by the
external auditors. The Committee monitors compliance with Romanian legal and regulatory
requirements regarding the preparation, presentation, and audit of financial statements,
including compliance with IFRS standards and regulations issued by the National Bank of
Romania. In this context, the Committee reviews the external auditor’s report on the IFRS
financial statements and reviews and preapproves the Bank’s IFRS financial statements
prior to their submission to the Bank’s Board of Directors. The full list of responsibilities
delegated to the Committee is detailed in the Audit Committee Regulation, published on
the bank’s website.
Audit Committee Report for 2025
The Audit Committee consisting of three (3) independent non-executive members, held
seven (7) physical meetings in 2025, in addition to holding a series of conference calls
and in absentia meetings to review, discuss and approve specific topics. The attendance
rate of the meetings presented below was determined by taking into account both
physical attendance and absences that were objectively justified, in accordance with the
bank’s practices.
Structure of the Committee in 2025:
• Mr. Ivo Gueorguiev – Chairman of the Audit Committee; Independent non-executive
director with extensive audit experience, attending seven (7) out of seven (7)
meetings;
• Mr. Thomas Grasse – Member; Independent non-executive director with extensive
audit experience, attending seven (7) out of seven (7) meetings;
• Mrs. Mirela Bordea – Member; Independent non-executive director with extensive
audit experience, attending seven (7) out of seven (7) meetings.
During the meetings held in 2025, the Audit Committee addressed the following:
• Analyzed the financial statements and the report prepared by the external auditor
for 2024, focusing on the significant accounting and reporting aspects and their
impact on the financial statements;
• Monitored the effectiveness of the internal control, internal audit and risk
management by analyzing specific reports prepared by the Bank’s control functions
and other relevant reports;
• Analyzed specific aspects of the NBR’s reports and monitored the implementation
of the related recommendations;
• Monitored the implementation of significant recommendations in the external
auditor’s letter to management;
• Established an annual audit plan for internal audit, together with the internal auditor;
• Oversaw the preparation of sustainability reports and the information included
therein, to the extent that this task is not assigned to another committee.
The Audit Committee carried out an intensive supervisory activity, working closely both
with the Bank’s external auditor and the Deputy Chief Financial Officer (CFO) on matters
related to the Bank’s financial results, which were audited and reviewed by the financial
auditor. Based on the analyses performed, the Committee issued recommendations to the
Board of Directors regarding their approval.
Throughout the year, dedicated meetings were held for audit planning and reporting,
attended by the external auditor, including sessions conducted in the absence of the
management team, in line with best practices on independence and objectivity. The
Committee also reviewed updated information provided by the external auditor and by the
Bank’s management regarding changes in Romanian legislation affecting credit institutions,
with a particular focus on current and upcoming developments in IFRS financial reporting
standards.
The Committee examined the effectiveness of the Bank’s internal controls, working closely
with both the external and internal auditors to closely monitor any identified deficiencies
and to track the progress of remediation actions through ongoing analytical follow‑up. In
addition, the Audit Committee was briefed on the results of external inspections carried out
by regulatory authorities.
The Committee oversees the conduct of the statutory audit and is responsible for
assessing and monitoring the independence and objectivity of the external auditor, as well
as for reviewing the quality of the delivered audit reports. In this context, the Committee
ensures that the relationship with the external auditor complies with applicable professional
and regulatory standards.
In 2023, the Audit Committee coordinated the selection process for the external auditor of
Banca Transilvania for the audit of the financial statements for the 2023–2027 financial
years, prepared in accordance with the International Financial Reporting Standards,
pursuant to NBR Order no. 27/2010. The external auditor — Deloitte Audit SRL — was
subsequently appointed by the Ordinary General Meeting of Shareholders of Banca
Transilvania on 26 April 2023, based on the independence statement submitted to the
Audit Committee and on the Committee’s own assessment of the auditor’s competence,
objectivity, and ability to fulfil the mandate. Following its analysis, the Committee
concluded that the external auditor is independent in providing audit services to Banca
Transilvania and that it may also perform certain non‑audit services within the limits set by
the applicable regulatory framework.
During 2025, the Audit Committee did not identify any situations, risks, or elements that
could question the independence of the external auditor or affect the integrity of the audit
process conducted for Banca Transilvania.
REMUNERATION COMMITTEE
Purpose, responsibilities and principal duties
The Remuneration Committee operates as an advisory committee subordinated to the
Board of Directors, established to provide independent opinions on remuneration policies
and practices. The Committee assesses the extent to which the remuneration structure
supports the prudent management of Banca Transilvania’s risk, capital, and liquidity, and
evaluates whether the incentives offered to staff are aligned with the institution’s strategic
objectives and risk profile. The Committee also exercises the responsibilities delegated by
the Board of Directors in this area of activity.
The composition of the Remuneration Committee is as follows:
• The Chairman of the Board of Directors;
• Up to two (2) Board of Directors members.
This Committee reviews and ensures that the general principles, as well as remuneration
and benefits policies are aligned with the Banca Transilvania’s business strategy, long-term
organizational values and objectives. The Remuneration Committee meets at least twice a
year or whenever necessary, upon the request of one of its members or of the bank’s
management.
Remuneration Committee’s Report 2025
As of December 31, 2025, the Remuneration Committee is composed of:
• Mr. Horia Ciorcilă
• Mr. Ivo Gueorguiev
• Mr. Vasile Pușcaș
The percentage of independent members is 66.66%.
In 2025, the Remuneration Committee met (in person or via electronic means) nine (9) times
with all members in attendance. The attendance record of the meetings presented below
has considered both the physical participation and the objectively justified absences, in
accordance with the Bank’s internal practices. The Chairman of the Risk Committee was
invited to the meetings to make sure that the remuneration practices are in line with the
Bank’s risk management requirements.
During the meetings held throughout 2025, the Remuneration Committee accomplished the
following:
• The committee analyzed and made sure that the general remuneration and incentive
principles and policies for staff are in line with the long-term business strategy,
values and objectives of the BT Financial Group. In this regard: it analyzed and
approved the Staff Remuneration Policy applicable at BTFG level, approved the
Staff Remuneration Norm applicable at BTFG level, analyzed the general principles
of the Remuneration Policy, and informed the Board of Directors on how to
implement them, ensuring the completion of an independent internal assessment at
a centralized level of compliance with the applicable Policy;
• The committee monitored the fulfilment of the following legal requirements:
o the involvement of the internal control functions (audit, risk and compliance)
as well as of the Human Resources Department in the development of the
remuneration policy;
o ensuring that the Bank staff has access to the remuneration policy, and that
the performance evaluation process is properly and transparently formalized
for employees;
o promoting a Remuneration Policy that ensures sound and efficient risk
management;
o the alignment of the remuneration policy with the long-term business
strategy, objectives, values and interests of the bank, including the
implementation of measures to prevent conflicts of interests.
o the assessment of the mechanisms and systems implemented in order to
ensure that the remuneration system takes into account all types of risks,
liquidity and capital levels and that the overall remuneration policy is in line
with the Bank’s strategy and promotes sound and efficient risk management
being aligned with the institution’s long-term business strategy, objectives,
culture and corporate values and the long term interests.
• The Committee approved the total annual remuneration levels for the members of
the Leaders’ Committee and BT’s executive directors (fixed and variable
remuneration), based on the achievement of SMART objectives, as well as the
remuneration of BT staff and the management of BT subsidiaries, in accordance
with its competences and based on the performance evaluation process conducted;
• The Committee directly supervised the remuneration levels of the coordinators of
the risk management, compliance and audit functions (Manager and Deputy
Managers of the Risk Management, Internal Audit and Compliance Division) and
adopted decisions on the remuneration associated with internal control functions,
taking into account the requirements for maintaining an adequate framework for risk
management and ensuring compliance
• The Committee approved the 2025 Stock Option Plan Programme;
• The Committee supervised the process of drafting, internal approval and submission
for approval of the Extraordinary General Meeting of Shareholders of the
Remuneration Policy applicable to the Bank's management body;
• The Committee approved the 2024 Remuneration Report, prepared in accordance
with regulatory requirements, as well as the Gender Pay Gap Report, prepared in
accordance with the reporting requirements of the National Bank of Romania.
NOMINATION COMMITTEE
Purpose, responsibilities and principal duties
The Nomination Committee operates as an advisory committee subordinated to the Board
of Directors, with the role of providing independent opinions on nomination policies and to
exercise the responsibilities delegated by the Board of Directors in this area of activity.
The Nomination Committee consists of:
• The Chairman of the Board of Directors;
• Up to two (2) Board of Directors members.
This committee reviews and ensures that the general principles and the policies regarding
the suitability and nomination of members of the management bodies are aligned with the
rules set by the Board of Directors, as well as with Banca Transilvania’s business strategy,
values, and long‑term objectives. The Nomination Committee meets at least twice a year
or whenever necessary, at the request of one of its members or of the Bank’s senior
management.
Nomination Committee’s Report for 2025
As of December 31, 2025, the Nomination Committee is composed of:
• Mr. Horia Ciorcilă
• Mr. Ivo Gueorguiev
• Mr. Florin Predescu Vasvari
The percentage of independent members is 66.66%.
In 2025, the Nomination Committee met (physically or via electronic means) eleven (11)
times with all members in attendance. The attendance record of the meetings presented
above has considered both the physical participation and the objectively justified
absences, in accordance with the Bank’s internal practices.
During the meetings held throughout 2025, the Nomination Committee carried out a series
of essential activities aimed at ensuring a solid governance framework and a rigorous
suitability and nomination process at the level of Banca Transilvania`s management body,
as follows:
• The Committee reviewed and made sure that the general principles and nomination
policies for staff are aligned with the long-term business strategy, values and
objectives of the Banca Transilvania. In this regard, the committee:
o identified and recommended to the Board of Directors the extension of the
mandates of the management body members whose mandates were
approaching their end (including in terms of the new durations of their
mandates),
o assessed the balance of knowledge, skills, diversity and experience within
the management body to ensure an adequate composition and
complementarity;
o assessed the structure, size, composition and performance of the
management body making recommendations to the management body on
any necessary adjustments;
o assessed the knowledge, skills and experience of each member of the
management, reporting the results to both the competent bodies and to the
supervisory authority. As part of the individual suitability assessment, the
Committee also included the evaluation of knowledge related to sound ESG
(Environmental, Social and Corporate Governance) principles and practices;
monitored and analyzed the selection and succession planning processes for
key function holders and members of the management body, and approved
appointments and mandate extensions within BT and its subsidiaries, in
accordance with internal suitability and nomination policies and procedures;
o reviewed the results of the professional training program, carried out based
on the program approved by the Committee, with a view to assessing the
suitability of senior management successors for 2026;
o reviewed and approved the lists of identified staff at BT and its subsidiaries,
updated on a semi-annual basis;
o ensured that the Bank`s Diversity Policy applicable to the management body
was updated by including quantitative objectives for the under-represented
gender and by strengthening the internal regulatory framework and
principles governing the appointment process of members of the Bank's
management body;
o monitored the annual review of the Policy on selection, monitoring,
evaluation, and succession planning within BT as well as the Equal
Opportunities Policy, in accordance with the applicable provisions
RISK MANAGEMENT COMMITTEE
Purpose, responsibilities and principal duties
The Risk Management Committee is a governing body subordinated to the Board of
Directors. It operates independently from the executive management in order to fulfil its
duties towards stakeholders.
The Committee’s responsibility is to support the Board of Directors in its oversight of the
Group’s risk management framework and establish a universal Group risk appetite
structure. It is entrusted to oversee and monitor the alignment of the overall risk framework
to the Group`s business strategy, while fostering a robust culture of prudent risk decision-
making.
Its oversight duties include:
• a robust assessment of principal and emerging risks faced by the Group, with
emphasis on those that could threaten capital adequacy and solvency, the business
model and financial performance,
• ensuring oversight of the Bank and its subsidiaries, enterprise-wide risk
management framework, risk appetite and risk tolerance as appropriate for the
Group’s business activities,
• monitoring the risk management framework alignment with the Group’s growth
strategy, supporting a prudent risk culture and facilitating a well-reasoned
consensus with executive management regarding the Group’s strategic risk
positions.
• the Group’s non-financial risks, including people, conduct, Sustainability risks, cyber
and information security and reputational risk.
The purpose of the Committee is to assist the Board of Directors in fulfilling its governance
and supervisory responsibilities related to risk.
The number of members and their competences are determined by the Board of Directors.
The full list of the Committee’s responsibilities is available in the Rules of Operation of the
Risk Committee, published on the bank’s website.
Risk Management Committee’s Report for 2025
Over the past year, the Committee continued its proactive supervisory approach and
focused its activities on risk management priorities arising from the Bank’s and the Group’s
strategy and the prevailing business and operating environment.
The Committee maintained a strong focus on the Group’s operational resilience and
received regular updates from the Deputy Chief Executive Officer in charge of risk
management.
The Committee’s initiatives in 2025 continued to remain committed to maintaining best
practices in risk management to ensure protection of the Bank’s core, while enabling
Group’s business growth.
During the year, the Committee focused its oversight on the Bank’s first time participation
in the 2025 EU-wide stress test conducted by the European Banking Authority in
cooperation with the National Bank of Romania, the European Central Bank and the
European Systemic Risk Board. The 2025 exercise included a sample of 64 banks
representing about 75% of the total assets of EU banks.
Banks were tested against a baseline scenario and a hypothetical adverse scenario that
assumes a severe but plausible economic shock. Banca Transilvania Group stress test
results confirmed the solidity of the Group and its resilience under the adverse scenario.
Another Committee focus point was the implementation of the Digital Operational
Resilience Act (DORA) in the Bank and scoped subsidiaries.
The committee consists of four (4) independent non-executive members of the Board of
Directors. The Group considers that all the members of the Risk Management Committee
of Banca Transilvania continue to demonstrate a fully independent judgement in all aspects
related to their functions.
The Committee held five (5) physical meetings in 2025 and three meetings by
correspondence. The Committee reports, including its findings and recommendations, are
regularly submitted to the Board of Directors in each of its meetings by the Chairman of
the Risk Management Committee.
In 2025, Risk Management Committee consisted of:
• Mr. Thomas Grasse: Chairman; Independent non-executive director with extensive
risk management experience, attending five (5) out of five (5) meetings;
• Mr. Ivo Gueorguiev: member; Independent non-executive director with extensive
risk management experience, attending five (5) out of five (5) meetings;
• Mrs. Lucyna Stanczak-Wuczynska : Independent non-executive director with
extensive risk management experience, attending five (5) out of five (5) meetings;
• Mr. Florin Predescu Vasvari: member; Independent non-executive director with
extensive risk management experience, attending five (5) out of five (5) meetings.
As in previous years, the Risk Management Committee focused on periodically recurring
topics such as the annual Group risk appetite statement, resolution and recovery, as well
as the internal processes to ensure capital adequacy and an appropriate liquidity position,
based on the financial plan, to ensure that the Bank holds sufficient capital to stay within
risk appetite limits and regulatory requirements. The Committee also prioritised the
enhancement of scoped Subsidiaries Risk Management frameworks to ensure Group-wide
harmonisation and resilience.
In addition, the Committee discussed the development and monitored progress of the
Bank’s key transformation initiatives in connection with the Risk function. Particular focal
points in this context were the further development of the Group’s operating model in the
Risk function and the execution of CRO strategic priorities 2024-28.
The Committee focused on a range of other regulatory priorities, including the Supervisory
Review and Evaluation Process (SREP) results, internal capital and liquidity allocation
updates, regulatory capital adequacy and minimum requirement for own funds and eligible
liabilities reports and examined various stress tests and their results.
The following section provides detail on how the Committee discharged its
responsibilities within an ongoing complex environment during 2025 alongside principal
activities and priorities:
• it reviewed and recommended Board approval for the new Risk Appetite Framework
and the Operational Risk management framework;
• it reviewed and assessed the robustness, adequacy and efficiency of the risk
management system in Banca Transilvania and BT Group, focusing on the risk
management strategies and policies, based on the reports prepared by the
functions in charge of the bank’s risk management;
• it examined the 2025 risk management strategy and ICT&SecIT Risk Strategy, as
proposed by the Leaders` Committee;
• it analyzed the risk management reports for exposures to various risk types and, as
part of its risk oversight, assessed the Bank’s capital adequacy against the business
plan to ensure sufficient capital buffers were maintained within risk appetite limits
and prudential requirements;
• other topics of reporting and discussion were non-financial risks including IT
security, cybersecurity, financial crime and related risk mitigation strategies and
initiatives;
• it closely monitored the Group’s credit portfolio, receiving regular updates on the
overall asset quality, non-performing loans and cost of risk;
• the Committee oversaw the Bank’s recovery planning process and recommended
Board approval for its submission to the National Bank of Romania;
• considering uncertainties from continued adverse macroeconomic effects given
high energy and other commodity prices, sustained inflationary pressure, elevated
interest rates and geopolitical risks, the Committee focused on reviewing model risk
management assumptions, back testing and model validation results and discussed
post model adjustments for estimate of collective impairment allowances;
• further, detailed analyses were requested by the Committee for specific topics in
order to assess their inherent potential risks and the quantitative and qualitative risk
management approach, e.g. integration of OTP risk portfolio, issuance of AT1
instruments, derivatives business, F/X risk, business sectors risk management
strategies, Bail-in Playbook and testing, critical outsourcings/ third party vendors,
International sanctions / Anti Money Laundering / Terrorist Financing, Anti Financial
Crime complex;
• in close cooperation with the Remuneration Committee of the Board of Directors, it
addressed the impacts of the compensation framework on the bank’s capital and
liquidity position and made sure that the remuneration policy promotes sound and
efficient risk management;
• it carefully assessed the business continuity management;
• it oversaw in 2025 the execution of the updated 2024-2026 Sustainability Strategy,
with a specific focus on climate risk management, EBA guidelines on ESG Risk
Management implementation effective 1 January 2026 and, together with the Audit
Committee, the Group’s non-financial risks reporting.
The committee systematically reviewed the performance of the BT Financial Group’s loan
portfolio and closely monitored the Group’s risk management processes, ensuring
continuous enhancement of risk management tools and practices in a dynamic risk
environment.
The regular risk reports also contain regulatory reports and the Committee continued in
2025 to monitor the implementation of the recommendations issued by the National Bank
of Romania. The Committee also oversaw the bank’s recovery and resolution capabilities
plan update and recommended the Board of Directors’ approval for its submission to the
National Bank of Romania.
Both the Risk Management Committee and the Audit Committee invited to its meetings the
Chief Financial Officer (CFO) and the Chief Risk Officer (CRO), the specialized teams in the
risk and financing areas, as well as external consultants to provide updates and support
materials. The Internal Audit Chief Executive is a permanent invitee to the Risk Management
Committee meetings.
The risk management structures subordinated to the Deputy CEO, Chief Risk Officer
operate as an independent entity within the bank, supporting a wide range of controls that
cover the risk identification and management process. The committee reviewed the main
documents that cover the risk policies and procedures and, together with the Audit
Committee, monitored the observance thereof.
The communication lines with the executive management are open to constructive and
permanent dialogue. The Committee was satisfied that appropriate risk management
practices and monitoring mechanisms were in place to identify, manage and mitigate risks
effectively across the portfolios. There were no significant divergent opinions between the
Risk Management Committee and the Board of Directors or the Leaders’ Committee in
2025.
The Chairman of the committee follows the remuneration policies and in cooperation with
the Remuneration Committee, makes sure that there are no incentives that could weaken
the risk management decisions, the monitoring and control of the credit portfolio.
Outlook for 2026
Geopolitical risks and macroeconomic volatility are expected to continue influencing the
operational environment in 2026. In this context, the Committee will maintain its focus on
overseeing the Bank’s compliance to the Risk Appetite Framework, both at the level of the
parent company (the bank) and across the Group.
The Committee will also continue to monitor progress in implementing the key elements of
the risk‑management strategy, with an emphasis on strengthening the processes, tools and
models that support effective risk management. Attention will remain directed towards
identifying and assessing emerging risks, as well as monitoring regulatory developments
at national and European level that may impact the Group’s risk profile.
Working closely with other Committees of the Board of Directors, the Risk Management
Committee will continue to seek assurance on applying best risk management principles,
techniques and strategies for mitigating the bank’s risk exposure and to further strengthen
the risk management capabilities and risk-taking capacity in safeguarding the Bank’s
financial stability and its customers.
LEADERS’ COMMITTEE
Purpose, responsibilities and principal duties
The Bank’s leaders are appointed by the Board of Directors and are required to meet all the
applicable legal requirements in force, including prior approval by the NBR before taking up
their duties. Under the relevant legal provisions, the Board of Directors has mandated the
Bank Leaders jointly (and with some exceptions, individually) with the exercise of the
Bank’s organizational and steering duties. The Rules and procedures of the Leaders’
Committee are approved by the Board of Directors and any amendment to them may only
be made exclusively by decision of the Board of Directors and shall take effect upon such
approval.
The structure of Banca Transilvania’s Leaders Committee and their professional
background as of December 31
st
, 2025, are as follows:
MEMBER
POSITION
PERSONAL DATA
ÖMER TETIK
Since June 2013
Chief Executive
Officer (CEO)
Middle East Technical University, Ankara, The
Faculty of Economic Sciences, Honor Student.
CV and bio: here.
Alphabetical order
CĂTĂLIN CARAGEA
Since July 2024
Deputy Chief
Executive Officer
Risk (CRO)
Masters` Degree, Bucharest University of
Economic Studies, Faculty of Finance,
Insurance, Banking and Stock Exchanges. CV
and bio: here.
GEORGE CĂLINESCU
Since September 2013
Deputy CEO, CFO
The American University in Bulgaria,
Blagoevgrad, Bulgaria; Applied Economics,
Business Administration. CV and bio: here.
ANDRZEJ DOMINIAK
Since March 2024
Deputy
Technology Officer
(CTO)
Stanford University, Machine Learning. CV
and bio: here.
OANA ILAȘ
Since October 2022
Deputy CEO, Retail
Banking
Executive MBA, United Kingdom. CV and bio:
here.
TIBERIU MOISĂ
Since May 2016
Deputy Chief
Executive Officer
MidCorporate &
SME
Executive MBA, Sheffield University (UK).
CV and bio: here.
BOGDAN PLEȘUVESCU
Since April 2023
Deputy CEO Legal
Post-graduate courses in International Law -
Institutions of the European Union,
International Law, Faculty of Law, University
of Bucharest
CV and bio here.
LEONTIN TODERICI
Since August 2013
Deputy Chief
Executive Officer -
COO
PhD in Cybernetics and Economic Statistics,
Babes-Bolyai University, Faculty of Economics
and Business Administration. CV and bio:
here.
The Leaders’ Committee reviews, endorses, approves, or, where appropriate, submits to
the Board of Directors for approval the following: internal regulations, cost monitoring
reports, the draft of the Revenue and Expenditure Budget, the draft of the Investment
Program, the Balance Sheet, the Profit and Loss Account, and the Report on the Bank’s
activity.
The Leaders` Committee may delegate certain responsibilities to Committees; if deemed
necessary, by express convocation, the Leaders` Committee may convene to address
specific matters related to those committees.
The Executive Committee mandates tasks/responsibilities to the following committees:
• Assets and Liabilities Committee (ALCO);
• Procurement Committee;
• Human Resources Committee;
• Credit Policy and Approval Committees (CPAC – Corporate, CPAC – Retail);
• Head Office Credit and Risk Committees (CCR1, CCR2, Level 1 Retail Credit
Competence / Level 1 Retail Post‑Approval Services Competence, Retail Credit
Committee);
• Committees specific to the activities of the Credit Remediation Department and
the Workout, Insolvency and Bankruptcy Department (CW1, CW2, CR1, CR2 and
CRW);
• Committee for Monitoring Debt Enforcement and Realization of Assets (CMESVA);
• Special Committee for Approval of Legal Enforcement/Litigation Status (CAES);
• Financial Institutions Credit Committee (CCIF);
• Branch Credit and Risk Committee (CCRS);
• Factoring Committee (FC);
• Data Management Steering Committee;
• Operational Risk Committee;
• ESG Committee.
ASSETS AND LIABILITIES MANAGEMENT COMMITTEE
The main objective of the Assets and Liabilities Committee is to manage the Bank’s assets
and liabilities. The Committee is appointed by the Leaders’ Committee.
The meetings of the Assets and Liabilities Committee occur on a periodical basis or
whenever required, upon the request of any member of the committee.
The Assets and Liabilities Committee receives informative materials and reports from the
specialized structures within the Bank, it analyzes them and adopts decisions in areas such
as the interest rate risk management, foreign exchange risk, liquidity risk, price risk and
other related activity segments, for the purpose of ensuring adequate management of the
Bank’s assets and liabilities.
PROCUREMENT COMMITTEE
The main objective of the Procurement Committee is to decide BT’s procurement policy
and to approve all investments involving expenditure outside the contractual framework
or exceeding the contractually regulated cost limitst, according to the competence limits
established through internal rules.
In exercising its responsibilities, the Committee analyses the opportunity of proposed
investments and acquisitions, assesses whether they fall within the approved investment
budget, monitors the progress of investments, identifies any unjustified cost deviations
and proposes optimization measures.
HUMAN RESOURCES COMMITTEE
The Human Resources Committee is a structure established to support the development
and efficiency of decision‑making processes regarding matters related to Banca
Transilvania’s personnel.
In exercising its responsibilities, the Committee reviews and endorses key aspects related
to staff structure, appointments to managerial roles and submits them to the competent
bodies; approves salary adjustments, benefits and other remuneration elements; validates
annual evaluations and professional development programs. The Committee also assesses
remuneration and performance‑evaluation policies and reviews and supports professional
development initiatives.
CREDIT POLICY AND APPROVAL COMMITTEES (CPAC CORPORATE, CPAC
RETAIL)
The Committees for Credit Policy and Approval have as main objective to establish BT’s
credit policy and to approve the credit facilities which exceed in terms of value or
conditions the competences of other bodies or employees of the Bank.
HEAD OFFICE CREDIT AND RISK COMMITTEES (CCR1,CCR2, LEVEL 1 RETAIL
CREDIT COMPETENCE/LEVEL 1 RETAIL POST-APPROVAL SERVICES
COMPETENCE, RETAIL CREDIT COMMITTEE)
The main objective of the Credit and Risk Committees at the Bank’s headquarters is to
analyze and approve loans and loan restructurings, respectively, in accordance with their
delegated authority. The Credit Policy and Approval Committee delegates to CCR1, CCR2,
Level 1 Retail Credit Authority/Level 1 Retail Post-Approval Services Authority, the Retail
Credit Committee, and the Mediation Committee (CM) the authority to approve loans, with
such authority being established by specific internal regulations.
COMMITTEES SPECIFIC TO THE ACTIVITIES OF THE CREDIT REMEDIATION
DEPARTMENT AND THE WORKOUT, INSOLVENCY AND BANKRUPTCY
DEPARTMENT (CW1, CW2, CRS, CR1, CR2 AND CRW)
Within the Credit Remediation Department (DRC) and the Workout, Insolvency and
Bankruptcy Department (DWIF), operate a series of specialized committees whose main
objective is to analyse and decide on the implementation of the remediation/workout
solutions proposed by these departments.
Remediation solutions aim in particular to support the recovery of clients experiencing
financial difficulties, with the goal of improving their repayment capacity, whereas the
workout solutions focus to increase the recovery rate of the Bank's exposure. CW1, CW2,
CRS, CR1 and CR2 perform activities assigned through the internal regulations.
COMMITTEE FOR MONITORING DEBT ENFORCEMENT AND REALIZATION OF
ASSETS (CMESVA)
The Committee for Monitoring Debt Enforcement and Realization of Assets is appointed by
the Leaders’ Committee and has as its main responsibility to supervise the entire
management function of real estate assets under enforcement procedures or resulting
from the enforcement of collateral established for loans granted to individuals or legal
entities.
SPECIAL COMMITTEE FOR APPROVAL OF LEGAL ENFORCEMENT / LITIGATION
STATUS (CAES)
The main objective of the Special Committee for Approval of Legal Enforcement/Litigation
Status (CAES) is to analyze and make decisions regarding the initiation of enforcement
procedures for customers proposed by the debt collection officers within the Debt
Collection Department. This applies to individual and corporate customers with outstanding
debts that can no longer be recovered amicably.
FINANCIAL INSTITUTIONS CREDIT COMMITTEE (CCIF)
The Financial Institutions Credit Committee`s main purpose is to supervise the activities
involving the credit exposure of Banca Transilvania to financial institutions in Romania and
abroad. CCIF approves all derogations from the internal regulations and procedures in force
that establish the workflow between BT and other financial institutions from Romania and
abroad.
BRANCH CREDIT & RISK COMMITTEE (CCRS)
The main objective of the Branch Credit and Risk Committee is to analyze and approve
legal entity (corporate) loans, the restructuring of legal entity loans (generically referred to
as
loan approval
) according to the competencies granted, respectively the management
and monitoring of the individual loan portfolio.
FACTORING COMMITTEE
The main objective of the Factoring Committee is to analyze and approve factoring
facilities, in both local currency and foreign currency, that fall under its competence, based
on the information included in the credit memorandums/Risk Evaluation Forms, and in
accordance with the granted competencies.
DATA MANAGEMENT STEERING COMMITTEE
The Data Management Steering Committee strengthens the bank's data strategy and
reflects the management's commitment to monitoring and managing the implementation of
programs, platforms, and data governance.
The committee establishes, supports, and monitors the bank's data management
capabilities and serves as the framework for escalating issues or reporting decisions with
an impact on the bank's data strategy.
OPERATIONAL RISK COMMITTEE
The Operational Risk Committee aims to assess the operational risk arising from the Bank's
activities, ensuring that each organizational structure implements specific operational risk
control policies and procedures and takes remedial action whenever a high-risk level area
is identified and then monitors their implementation.
It ensures that the formalization and complexity of operational risk and information
technology risks are appropriate to the bank's risk profile and business strategy and
examines future technological trends that may affect the bank's strategic plans, including
monitoring emerging technologies and how to mitigate the risks in the field of IT security
associated with them.
At the same time, based on the investigation reports provided by the Anti-Fraud
Department, which contain proposals for modifying or supplementing processes,
workflows or procedures in connection with which fraud incidents have occurred, the
Committee analyzes and determines the appropriate manner of implementation, assesses
the need to adjust existing processes and internal controls to reduce operational risks and
prevent similar situations from recurring.
ESG COMITTEE
The ESG Committee, chaired by the Deputy Chief Executive Officer – Chief Risk Officer
(CRO) and reporting directly to the Executive Committee, was established in April 2024 to
coordinate and implement the Bank’s Sustainable Development Strategy. Its role is to
create a solid framework for integrating ESG factors into risk management, financing
practices, and stakeholder‑engagement strategies. The Committee monitors legislative
developments, promotes education and awareness among employees, and ensures
transparent reporting of the Group’s ESG performance.
In 2025, BT achieved the highest rating for the seventh consecutive year in VEKTOR, the
indicator that measures the quality of investor communication for companies listed on the
Bucharest Stock Exchange. ESG performance and the robustness of the business model
are reflected in external assessments received. Fitch Ratings and Moody’s Ratings have
improved the Bank’s ratings compared to previous years, due to the quality of its
asset‑portfolio, robust capitalization and financial resilience. These results are
complemented by the ESG rating awarded by Refinitiv, a London Stock Exchange Group
company, which places BT in the top 10% of more than 1,100 financial institutions evaluated
worldwide, highlighting a high degree of transparency in the public reporting of
sustainability materials.
Accessibility also remains an important component of the Social pillar within the Bank’s ESG
strategy. In this regard, BT has published its Accessibility Statement and initiated a process
of assessing and improving digital accessibility in accordance with WCAG standards.
BT GROUP DIVERSITY AND EQUAL OPPORTUNITIES POLICY
This policy aims to promote diversity within Banca Transilvania Financial Group’s
management body (Board of Directors and Leaders’ Committee). The Banca Transilvania
Financial Group recognizes and embraces the benefits of a diversified management body
as a pathway to improve the quality of its performance. The BT principles also apply to the
entities within the BT Financial Group. Since 2023, the BT Group is one of the signatories
of the Charter of Diversity in Romania.
In order to achieve sustainable and balanced development, Banca Transilvania considers
the increased leadership diversity as an essential element in supporting the achievement
of its strategic objectives.
In designing the structure of the management body, in regard to issues of diversity, we
considered several criteria, among which (but not limited to): gender, age, cultural and
educational profile, ethnicity, professional experience, skills, knowledge and work
experience. All appointments to the management body are based on meritocracy, and
applicants will be considered on the basis of objective criteria, taking into account the
benefits of diversity within the body.
For Banca Transilvania, although diversity and the variety of experiences and perspectives
represented within the management body must always be taken into consideration, a
candidate should neither be selected or excluded, exclusively or predominantly, on the
grounds of race, color, gender, national origin or sexual orientation. In selecting a
candidate, the Nomination Committee shall prioritize the skills, national and international
experience or cultural profile that would complement the existing management body,
recognizing that the Bank's activities and operations are diverse and of a national nature
with a global impact.
Reflecting the international nature of banking activities, Banca Transilvania’s directors and
Executive Officers are Romanian citizens as well as citizens and residents of other
countries. Most BT directors and managers come from banking environments in Romania
and abroad.
For Banca Transilvania, while the governing body should not adhere to a fixed number of
directors, a governing body of 6-14 members, generally, provides a sufficiently large and
diverse group to address the important matters faced by the Bank, while remaining small
enough to encourage personal involvement and constructive discussion.
The current directors and managers of Banca Transilvania have been in leadership
positions in various organizations or within Banca Transilvania, demonstrating their ability
to exercise top-level management responsibilities and to steer the Bank. They were senior
executives within prestigious international institutions, where they developed skills and
experience in terms of strategy and business development, innovation, operations, brand
management, finance, IT, compliance, decision-making and risk management. These skills,
together with their accumulated experience, enable them to engage in addressing
challenges faced by an international company in today’s environment, ensuring proper
oversight of these areas within the Bank and thus assessing BT’s performance.
All members of the management body also have significant experience in corporate
governance and the oversight of complex businesses, through their roles of executive
managers, directors, administrators, or other relevant functions within other large
institutions.
Some of the Bank`s directors have relevant experience in areas specific to financial and
banking institutions such as audit, risk management and stock markets. All these skills and
experiences are relevant to current strategies as well as to encourage Bank development,
enabling managers and directors to provide diverse perspectives, valuable advice and
critical points about new business opportunities, product launches, new markets, solutions
for the problems faced by the institution, as well as those faced by the banking system
both at local and national level.
Measurable objectives concerning the maintaining diversity standards within the
management body of Banca Transilvania
Candidate selection is based on a range of diversity dimensions, including, but not limited
to, gender, age, cultural and educational background, ethnicity, professional experience,
skills, knowledge and seniority. The final decision is based on the merit and contribution
that the selected candidates will bring to the management body. The composition of the
management body (including gender, ethnicity, age, seniority) will be periodically disclosed
on Banca Transilvania's website.
The Board of Directors and the Leaders` Committee of Banca Transilvania view diversity
as a factor in selecting members of the management body, acknowledging that promoting
diversity at this level brings significant benefits to the Bank. The Nomination Committee
uses a variety of criteria in selecting candidates for the position of a director or manager,
including background diversity.
Banca Transilvania considers that an eligible potential member of the management body
must be able to work in an effective manner with individuals from diverse educational,
cultural and business backgrounds and must have skills that complement the attributes of
existing members.
Banca Transilvania also encourages the enhancing of women representation - currently the
under-represented gender in the leadership structure- within the management structures,
in order to support balance, diversity and high performance of the company. In this regard,
candidates for middle management positions represent an important pipeline for potential
further candidates for vacant positions in the management body, not only for Banca
Transilvania but for the entire banking system, taking into account the specific suitability
requirements applicable to the management of credit institutions.
Furthermore, Banca Transilvania considers that appointment to leadership roles cannot be
based solely on gender, as such practices may undermine the competence and
independence of the appointed person. Therefore, we believe that the effective and
sustainable development of the Bank can be achieved by ensuring a framework for the
growth and personal development of female employees under the same conditions as for
men.
In 2025, the number of female employees attending trainings for professional development
was over seventy-one percent (71%) of the total number of employees. In terms of
hiring/promotions that have been made at director/manager level, approximately sixty-six
percent (66%) of those appointed to these positions are women. Thus, the goal of Banca
Transilvania to increase the representation of women in the BT governing body is
considered to have been achieved. Therefore, Banca Transilvania considers that the
Leaders` Committee in its current composition, meets the overall diversity requirements,
in accordance with the Bank`s diversity practices defined above.
Banca Transilvania has created an environment for the sustainable development of its
employees through professional training courses that are offered without discrimination of
any kind, according to needs, the nature of the activity and the role performed.
Monitoring and reporting
The Nomination Committee will regularly monitor compliance with the European
requirements related to the composition of the management body from the diversity
perspective. In order to maintain and develop a balanced, functional and effective
management body, the Nomination Committee may, when appointing a candidate take into
account additional skills, experiences or competencies that it considers relevant for the
decision. Thus, the Nomination Committee may consider diversity when evaluating
candidates for membership in the management body.
Banca Transilvania considers that diversity in terms of cultural background, experience,
skills, race, gender and national origin is an important element in the composition of the
management body. The Nomination Committee analyses the diversity considerations
regarding each candidate, as well as, periodically, in relation to the overall composition of
the management body.
The Nomination Committee outlines a profile of proper skills and characteristics required
by members of the management body, considering its current composition. This
assessment includes expertise (including international and financial-banking experience),
independence, integrity, diversity and age, as well as technical skills related to banking,
production, finance, marketing, technology and public policy. The main eligibility criteria
considered are those arising from legal requirements, and the Committee ensures that a
majority of the management body remains independent.
HUMAN RIGHTS PRINCIPLES
These principles set out the guidelines regarding the respect of human rights within the
activities carried out by Banca Transilvania, as well as by the companies within the Banca
Transilvania Financial Group
The Bank supports, through its social responsibility practices, the Romanian
entrepreneurial spirit, the development of responsible businesses, sustainable growth,
quality, solidarity, responsibility, engagement and the building of positive relationships with
stakeholders, going beyond traditional banking activities. In implementing social
responsibility policies, Banca Transilvania undertakes all necessary efforts to ensure the
continuous respect of fundamental human rights by continuously encouraging and
developing good practices in this area, while promoting ethical, transparent behaviour
aligned with relevant international standards.
Banca Transilvania S.A. is a credit institution registered in Romania, operating in Romania
and Italy. Subsidiaries of Banca Transilvania Financial Group operate in Romania, as well as
in the Republic of Moldova (B.C. Victoriabank S.A., BT Leasing Moldova S.R.L., O.C.N.
Microinvest S.R.L., Microinvest Technology S.R.L.). In this regard, Banca Transilvania and
its subsidiaries reaffirm their strong commitment to compliance with European and national
Human Rights protection rules, including, but not limited to, the rights set forth in the
European Convention on Human Rights. The Financial Group acts in accordance with these
principles in all jurisdictions in which it operates, promoting high standards of conduct,
respect, integrity and social responsibility.
Banca Transilvania and the companies within the BT Financial Group comply with the
following:
• In connection with the employees of the Banca Transilvania Financial Group, Banca
Transilvania and its subsidiaries comply with all the requirements regarding the
protection of human rights and discourage any internal practices that could affect
and/or harm the fundamental rights of their employees. Banca Transilvania also
encourages the development of its employees` knowledge of human rights, to
ensure compliance with these requirements in their relationships with customers
and beyond. Any violation of the fundamental human rights by the BT Financial
Group employees is sanctioned in accordance with the legal provisions and the
internal rules of the Bank.
• To strengthen the protection of employee rights, BT has created internal reporting
mechanisms, such as the Whistlelink application, which is a confidential reporting
channel available to both business partners and BTFG employees for reporting
potential fraud, violations of the Code of Ethics and Conduct, breaches of the
Internal Regulations, specific internal rules of subsidiaries, or violations of the law
(money laundering, bribery, etc.). Within this application, reports can be submitted
regarding legitimate and substantial concerns related to aspects of the business
management framework, and all cases are analyzed by a specialized group, with
each report receiving a unique tracking code.
• In relation to the companies with which it conducts business, the Bank pays
maximum attention during the selection process of third-party collaborators,
ensuring that partnerships are initiated only with those entities that assume
compliance with the human rights principles mentioned above, their activities being
adequately monitored, in compliance with the applicable legal provisions.
• Banca Transilvania also maintains transparency and accountability in its business
relations and governance through constant communication with regulatory
authorities and investors, ensuring access to information and periodic reporting. In
addition, it applies a top-down, governance-driven approach combined with a
bottom-up, social and environmental team-oriented approach to foster a strong
stakeholder engagement culture and to ensure sufficient resources and support for
effective engagement practices.
POLICIES FOR THE PREVENTION OF CORRUPTION AND BRIBERY
The companies within the Banca Transilvania Financial Group do not tolerate any form of
bribery and /or corruption. No employee/member of the governing body of any company
within the Group may accept or grant any improper advantage of any kind, regardless of
whether the person offering or requesting such an advantage works in the public or private
sector. Offering or receiving any form of bribe or engaging in influence peddling, directly
or through intermediaries, is strictly prohibited.
Strictly prohibited actions include:
• Receiving money or other benefits from clients or third parties in exchange for
performing their duties or to intervene with another employee/manager to perform
or not perform actions outside their responsibilities;
• Paying or offering any benefit that violates domestic laws or internal regulations;
• Paying or offering any benefit to „secure” a business.
Employees/members of the governing bodies of any of the companies within the Banca
Transilvania Financial Group must not make any kind of facilitation payments, these
payments being „expediting payments or „informal fees”, usually small, unofficial amounts
of money, handed over to public or government officials for the purpose of obtaining,
urgent or delay a routine action to which someone has access by legal right (e.g. issuing a
permit, a license, an agreement or an immigration visa, scheduling an inspection associated
with the contract performance; providing services or releasing products held in customs).
The companies within the Banca Transilvania Financial Group have established a fair and
formalized framework for selecting suppliers, collaborators, brokers, consultants,
intermediaries and all other third parties acting on behalf of the companies within the group
in carrying out their activities.
Maximum attention is paid to selecting third-party collaborators, ensuring partnerships only
with entities committed to the principles presented above, with their activities monitored
in accordance with internal procedures.
The Bank applies the above requirements in accordance with the legal provisions and in
accordance with applicable internal regulations. These principles are complemented by the
applicable normative acts and referenced documents.
In 2024, Banca Transilvania implemented a well-structured action plan to manage the
material impact, risks, and opportunities related to corruption and bribery. The main key
measures adopted include continuous mandatory training for employees, with focus on risk
areas, as well as conducting annual internal audits of procurement and contracting
processes to identify any irregularities.
Additionally, in 2024, a rigorous system for reviewing supplier relations through due
diligence and reputational screening was implemented, which helps the Bank to prevent
exposure to fraud, corruption, and other reputational risks. These measures are applied
across the Bank's supply chain, having a direct impact on employees and suppliers.
Last but not least, the Bank maintains active cooperation with the competent authorities to
identify potential cases of corruption or bribery.
POLICY AGAINST ANTI-MONEY LAUNDERING
In order to ensure compliance with the requirements for preventing and combating money
laundering and terrorist financing, the Bank has implemented, since December 2020, the
suite of Siron applications (AML, KYC, Embargo), designed to monitor the customer base
and transactions.
In addition, the prevention and combating of money laundering activities are subject to an
internal control process on the customer portfolio, based on risk indicators selected
following periodic assessments carried out at the credit institution level.
REMUNERATION POLICY (APPLICABLE TO IDENTIFIED PERSONNEL)
The main objective of Banca Transilvania Financial Group in the area of remuneration is to
comply with the principle of fairness, taking into account the business strategy and risk
strategy, corporate culture and values, the long-term interests of the institution, and the
measures used to avoid conflicts of interest, without encouraging excessive risk-taking
and promoting sound and effective risk management.
The remuneration policy for all staff is gender-neutral, with all staff being remunerated
equally for the same work or for work of equal value, and internal rules and standards are
regularly updated to reflect best practices.
The internal remuneration framework supports the Group in achieving and maintaining a
viable capital base. The Group identifies those categories of staff with a significant impact
on the risk profile ("Identified Staff/Personnel”) in accordance with the provisions of the EU
Regulation No. 923/2021 and conducts periodic assessments to determine them, taking
into account the applicable legal requirements.
Link between total remuneration and performance
In accordance with the legislative provisions in force regarding sound remuneration
policies, there are two types of remuneration granted: fixed and variable, according to the
following principles:
Remuneration is fixed when the conditions for granting it and its amount: i) are based on
predetermined criteria; ii) are non-discretionary, reflecting the level of professional
experience and seniority of the staff; iii) are transparent with regard to the individual
amount granted to the individual staff member; iv) are permanent, i.e. they are maintained
for a period linked to the specific role and organizational responsibilities; v) are non-
revocable; the permanent amount is not changed except through collective bargaining or
renegotiation in accordance with national criteria for setting salaries; vi) cannot be reduced,
suspended, or canceled by the institution; vii) do not provide incentives for risk-taking; viii)
do not depend on performance.
Remuneration is variable when it does not meet the characteristics of the fixed component
and is linked to: (i) individual performance; (ii) the performance of the operational unit; (iii)
the overall results of the Group.
Performance is assessed on a multi-year basis to ensure that the assessment process is
based on long-term performance and that the actual payment of performance-based
remuneration components is spread over a period that takes into account the Group's
business cycle and the specific risks of its entities.
The annual individual performance assessment process takes into account both financial
and non-financial criteria (including individual objectives and competencies with a minimum
rating of "3"), collective financial criteria (budget indicators, NPS) and the final rating,
criteria established in accordance with the rules described in the internal methodology.
For "identified personnel" in the management body category, the performance assessment
on which variable remuneration is based is carried out in accordance with the Remuneration
Policy for the BT management body. The variable component is determined taking into
account indicators that discourage excessive risk-taking.
The remuneration of independent control functions is predominantly fixed, and when there
is a variable component, its level is not linked to the budgetary objectives of the
organization or the performance of the activities that the control function monitors and
controls, but to the achievement of the objectives related to those functions.
The same principles of linking variable remuneration to performance also apply to
"identified staff" at GFBT level within the subsidiaries of the BT Financial Group, in
compliance with internal provisions (in particular, those established by the Regulation on
the remuneration of Banca Transilvania Financial Group personnel (N.15.12._).
Deferral policy
For Identified Personnel, a substantial portion, representing in all cases at least 40% of the
variable component of the total remuneration, is deferred for a period of 4 years and is
adequately correlated with the nature of the activity, its risks, and the activities of the
personnel concerned, except for non-EU entities or those with remuneration policies
specific to their sector of activity. The rule applies only to total variable annual remuneration
exceeding €50,000 gross and not exceeding more than 1/3 of total annual remuneration,
in accordance with the principle of proportionality and immateriality of risk as defined in
the applicable regulations.
The deferral and payment in instruments provisions do not apply to entities within the
prudential consolidation scope of the non-EU BT Group and/or those with remuneration
policies specific to their sector of activity or those that do not meet the conditions in terms
of company size (with averages equal to or less than EUR 1 billion in the 4-year period
immediately preceding the current financial year).
Up to 100% of the total variable remuneration may be subject to malus or claw back
agreements. Remuneration rights, including deferred remuneration, are granted only if the
variable remuneration is sustainable in light of the Group's overall financial situation and
can be justified in light of the performance of the bank, the structure in which the activity
is carried out, and the employee concerned.
For annual variable remuneration of a particularly high amount (over RON 1,500,000 net)
granted to Identified Staff (including members of the management body), at least 60% of
the amount is deferred for a minimum period of 5 years.
Banca Transilvania does not apply the derogation for small trading portfolios, in accordance
with Regulation (EU) No. 575/2013.
The ratio between fixed and variable remuneration
For Identified Personnel, total remuneration consists of a fixed component and a variable
component that cannot exceed 100% of the fixed component of total annual remuneration.
The fixed and variable components of total remuneration are appropriately balanced, and
the fixed component represents a sufficiently large proportion of total remuneration to
allow for a fully flexible policy on variable remuneration components, including the
possibility of paying no variable remuneration.
Information on the performance criteria on which the entitlement to shares, options, or
other variable remuneration components are based
The general performance criteria on which the entitlement to shares or other variable
components of remuneration (cumulative) is based are:
• Achievement of the gross profit target for the year for which the assessment is
made (for the base portion) and/or for the previous year (in the case of the deferred
portion);
• Maintaining capital adequacy and liquidity indicators, as well as keeping the Bank's
overall risk profile within the levels set out in the Risk Appetite Statement (RAS);
• Maintaining the Bank in one of the top three positions in the ranking of banks in
Romania, based on the quota of assets held on December 31 of the year for which
the assessment is made.
Main parameters and rationale for the structure of the variable remuneration component
The performance measurement used to calculate the variable remuneration components
or portfolios of variable remuneration components includes an adjustment for all types of
current and future risks and takes into account the cost of capital and the necessary
liquidity. The allocation of variable remuneration components within the Group also takes
into account all types of current and future risks.
For Identified Staff members, at least 50% of any variable remuneration must be
represented by a balanced combination of shares and, where possible, other instruments,
such as Additional Tier 1 or Tier 2 instruments (in accordance with Article 52 or 63 of
Regulation (EU) No 575/2013), or other instruments that can be fully converted into
Common Equity Tier 1 or Tier 2 instruments, which in each case adequately reflect the
Group's credit quality on an ongoing basis and are suitable for use for the purpose of
variable remuneration. Thus, at least 50% of the annual variable remuneration linked to
performance is paid in BT shares, acquired by the Bank for this purpose and granted
through a Stock Option Plan.
The same principles apply to "identified personnel" within the subsidiaries of Banca
Transilvania Financial Group, except for:
• small subsidiaries for which the provisions on payment in instruments, deferral, and
vesting do not apply if they had assets with an average and individual value equal
to or less than EUR 1 billion during the four-year period immediately preceding the
current financial year. If the value of the assets exceeds EUR 1 billion, these
provisions apply only in the case of total annual variable remuneration exceeding
EUR 50,000 gross and if the total annual variable remuneration represents more
than 1/3 of the total annual remuneration of the respective member of staff, the
principle of proportionality and immateriality of risk as defined in the applicable
regulations and in accordance with the remuneration practices of the BT Financial
Group shall apply in this context.
• investment subsidiaries and those in the Republic of Moldova, which are subject to
specific regulations of the country or field to which they belong. Thus:
- At BT Asset Management S.A.I. S.A. and INNO Investments S.A.I. S.A.,
variable remuneration for Identified Personnel is paid 50% in RON and
50% in fund units/instruments, applying the principles of deferral and
payment in accordance with the company's specific remuneration policy,
aligned with the legal regulations applicable to the sector of activity;
- At Victoriabank, for Identified Personnel, variable remuneration is granted
50% in MDL and 50% in instruments linked to the TLV shares of the parent
company Banca Transilvania, of the shadow shares type, applying the
principles of deferral and payment in accordance with the company's
specific remuneration policy, approved by the National Bank of Moldova
and aligned with the legal regulations applicable in the Republic of
Moldova;
- At BT Leasing Moldova for Identified Personnel, a minimum of 50% of
variable remuneration is granted in TLV shares of the parent company
Banca Transilvania, applying the principles of deferral and payment in
accordance with the company's specific remuneration policy, aligned with
the legal regulations applicable in the Republic of Moldova;
- BT Capital Partners S.A. for Identified Personnel, at least 50% of the
variable remuneration is granted in TLV shares of the parent company
Banca Transilvania, with the application of the specific regulation on
exclusions from deferral and payment in applicable instruments, namely
Directive (EU) 2019/2034 of the European Parliament and of the Council
of November 27, 2019, on the prudential supervision of investment firms
and amending Directives 2002/87/EC, 2009/65/EC, 2011/61/EU,
2013/36/EU, 2014/59/EU, and 2014/65/EU.
Quantitative information pursuant to Article 450 of Regulation (EU) No. 575/2013 on the
disclosure requirements for remuneration policies is published on the website of Banca
Transilvania.
HOW WE STARTED 2026
PROMOTING ROMANIA’S INVESTMENT OPPORTUNITIES IN VIENNA
Attendance at the CEE Forum, Vienna
In January 2026, Banca Transilvania Group participated in
The Central & Eastern European
Forum – Where CEE Markets Thrive
, an event organized by FT Live in Vienna. As part of
the region’s most important economic and financial event, Banca Transilvania organized
the
Focus Romania
panel, dedicated to promoting Romania as an investment destination,
highlighting the potential of the local economy and the opportunities offered to
international investors.
Also, at the CEE Forum in Vienna, Banca Transilvania presented the BT Research platform,
a tool designed to provide relevant economic information about Romania. The platform
offers quick access to key macroeconomic indicators, market outlooks, and economic
analyses that contribute to a better understanding of the local financial landscape.
Designed to support decision-making with structured, up-to-date, and user-friendly
information, BT Research is addressed to professionals interested in the developments in
the Romanian economy.
BT Event at the Romanian Embassy in Austria
On January 12, 2026, in Vienna, Banca Transilvania Group started this year’s series of
international events with a meeting organized in partnership with the Romanian Embassy
in the Republic of Austria. The event
,
“Connecting Growth – Investing in Romania”
provided
a platform to highlight Romania’s potential as an attractive destination for solid, long-term
investments. At the same time, the event reaffirmed Banca Transilvania and BT Capital
Partners’ commitment to supporting Romanian companies in their foreign expansion
strategies and to actively contributing to building sustainable economic bridges between
Romania and European markets.
BT FOUNDERS’ ANNUAL MEETING
Banca Transilvania celebrated 32 years of operations in February 2026, marking this
anniversary with the BT Founders’ Meeting, an annual event through which the bank honors
its beginnings and those who laid the foundation for its story with confidence, courage,
and optimism.
Back in time: 1993, the year it all began
The idea of establishing a bank headquartered in Cluj-Napoca came from Dan Palagheanu
(Radu Dănuț Palagheanu), who, together with his partners at Compexit—another Cluj-
Napoca-based company – formed the core group of the bank’s founders, later joined by
other investors. In the end, the group grew to 46 founders, most of whom were local
entrepreneurs.
The bank was launched in 1993 with an initial capital of USD 2 million and the ambition to
build a landmark bank in Transylvania. That is where the name came from.
NEWS FROM BT GROUP COMPANIES: MILESTONES AND STRATEGIC
PARTNERSHIPS
Investment funds are gaining ground: BT Asset Management, 450,000 investors, and
RON 10 billion in assets under management
BT Asset Management SAI (BTAM) has reached 450,000 investors and hit the historic
milestone of RON 10 billion in assets under management, equivalent to approximately EUR
2 billion. Nearly 40% of all transactions performed by the BTAM clients targeted the fund
that tracks the ROTX index on the Bucharest Stock Exchange, confirming the growing
appetite for investments linked to the local capital market. In 2025, nearly 60% of all the
Romanians who started their journey in funds’ investments chose the funds managed by
BTAM. The community has grown significantly: the number of investors in BTAM funds is
now four times higher than in 2023.
Alternative Real estate Investment Fund: BT Property is expanding its presence in the
premium office segment through the acquisition of Record Park
BT Property, an alternative real estate investment fund targeting professional investors and
managed by INNO Investments SAI SA, a company of Banca Transilvania Financial Group,
has acquired Record Park from AYA Properties Fund (Belgium).
BT Property’s portfolio comprises properties in the retail, office, and medical segments,
with a total leasable area of approximately 43,000 square meters, including the most recent
acquisition. The fund manages assets worth approximately EUR 79 million and, since its
launch, has generated a return of over 55%.
BT Broker de Asigurare, expansion through its own franchise network
BT Broker de Asigurare took an important first step in expanding its own franchise network
by signing its first partnership of this kind with DIASIG VEST, in February 2026. This
collaboration model, with local partners, accelerates BT Broker’s expansion into high-
potential areas and supports the company’s repositioning as an integrated player in the
insurance market. For partners, joining the BT Broker network means the backing of
Romania’s largest financial group, the association with a very strong brand, and access to
a diversified portfolio of insurance products.
Microinvest, international financing to accelerate the growth of SMEs in the Republic of
Moldova
Microinvest has signed a EUR 20 million financing agreement with the European Bank for
Reconstruction and Development (EBRD). The multi-currency senior loan will support the
company’s competitiveness and resilience and strengthen Microinvest’s ability to continue
supporting micro, small, and medium-sized enterprises in the Republic of Moldova.
It also secured the largest loan in the company’s history through an agreement with the
U.S. International Development Finance Corporation (DFC). The financing strengthens
Microinvest’s role as a leading partner in microfinance for local entrepreneurs, including
those in rural areas and in the agricultural sector.
ADDITIONAL RESOURCES
• BT's platform for investors and shareholders communication
• General Meeting of Shareholders 2025
• Financial results 2025
• Filings
• ESG & Sustainability
• BT Research
• BT Newsroom
ANNEX 1
• Sustainability Statement
ANNEX 2
• Remuneration Report of Banca Transilvania’s Management Body in 2025
1
Sustainability Statement 2024, Banca Transilvania Financial Group
2
Sustainability Statement 2024, Banca Transilvania Financial Group
Table of Contents
1. GENERAL INFORMATION ..................................................................................... 4
1.1 Basis of Preparation of the Sustainability Statement ............................................... 4
1.2 Governance and Responsibilities ................................................................................ 8
1.3 Strategy and Business Model ................................................................................... 28
1.4 Impacts, Risks, and Opportunities ............................................................................. 71
2. ENVIRONMENTAL INFORMATION ........................................................................ 77
2.1 EU Taxonomy .............................................................................................................. 77
2.2 Climate Change .......................................................................................................... 89
2.3 Circular Economy ....................................................................................................... 115
3. SOCIAL INFORMATION ..................................................................................... 119
3.1 The BT Group Team .................................................................................................. 119
3.2 Customers and users of the BT Group’s products and services .......................... 151
3.3 Sustainable Financing ............................................................................................... 181
3.4 Entrepreneurial Education and Financial Education ............................................. 219
3.5 Investments in the Community ............................................................................... 227
3.6 Cybersecurity and Personal Data Protection ........................................................ 238
4. GOVERNANCE INFORMATION .......................................................................... 253
4.1 Combating Financial Crime ..................................................................................... 269
ADDENDUM 1. DISCLOSURE REQUIREMENTS COVERED BY THE SUSTAINABILITY
STATEMENT ........................................................................................................... 279
ADDENDUM 2. LIST OF INDICATORS DERIVING FROM OTHER EU LEGISLATION ........ 281
ADDENDUM 3. MANAGEMENT STRUCTURES AT THE SUBSIDIARY LEVEL AS OF
DECEMBER 31, 2025 ............................................................................................... 290
3
Sustainability Statement 2024, Banca Transilvania Financial Group
ADDENDUM 4. KPIS DISCLOSED UNDER ARTICLE 8 TAXONOMY REGULATION ....... 328
4
Sustainability Statement 2024, Banca Transilvania Financial Group
1. General Information
1.1 Basis of Preparation of the Sustainability Statement
DR BP-1 – General Basis for the Preparation of the Sustainability Statement
The Sustainability Statement of Banca Transilvania Financial Group (“BTFG”, “BT Group,”
“the Group”, “we,” “our,” “the company”) has been prepared in accordance with Directive
(EU) 2022/2464 on Corporate Sustainability Reporting (Corporate Sustainability Reporting
Directive - CSRD), as transposed into Romanian legislation through National Bank of
Romania (NBR) Order No. 1 of 16 May 2024, amending and supplementing Order No.
27/2010, as well as with the European Sustainability Reporting Standards (ESRS) issued by
the European Financial Reporting Advisory Group (EFRAG).
Disclosures related to the EU Taxonomy have been prepared in accordance with Article 8
of Regulation (EU) 2020/852 of the European Parliament and of the Council on the
establishment of a framework to facilitate sustainable investment, as well as with
Commission Delegated Regulation (EU) 2021/2178, as subsequently amended by
Commission Delegated Regulation (EU) 2026/73 of 4 July 2025.
The information presented in this Sustainability Statement covers the financial year 2025,
for the period 1 January 2025 – 31 December 2025.
The Sustainability Statement has been prepared on a consolidated basis and includes the
parent company and all subsidiaries within the consolidation perimeter used for the
preparation of the Group’s consolidated financial statements, prepared in accordance with
the International Financial Reporting Standards (IFRS).
In accordance with the provisions of Directive 2013/34/EU, as amended by Directive (EU)
2022/2464 (CSRD), entities included in the consolidation perimeter are exempt from the
obligation to publish separate sustainability statements, provided that the relevant
information is included in the consolidated sustainability statement of the parent
undertaking. As of December 31, 2025, there are no other entities within BT Group subject
to a separate obligation to publish an individual sustainability statement.
With regard to EU Taxonomy disclosures, these are determined at the level of the Group’s
prudential consolidation perimeter, in accordance with the requirements applicable to
credit institutions under Regulation (EU) No. 575/2013 (Capital Requirements Regulation –
CRR) and the associated FINREP reporting framework.
A detailed description of the Group’s consolidation perimeter and of the entities included in
the consolidated financial statements is provided in Note 1 to the Group’s consolidated
financial statements for the financial year ended 31 December 2025.
5
Sustainability Statement 2024, Banca Transilvania Financial Group
The Sustainability Statement has been subject to an independent limited assurance
engagement performed by Deloitte Audit SRL, in accordance with applicable assurance
standards.
Omitted Information
No classified or sensitive information related to intellectual property, know-how, or
innovation outcomes has been omitted from the Sustainability Statement. Furthermore, the
option to omit disclosures regarding imminent developments or matters under negotiation
has not been applied.
The quantitative financial data presented in this Sustainability Statement are expressed in
the Group’s functional currency, namely the Romanian leu (RON), unless otherwise
specified. For non-financial indicators measured in specific units (e.g. greenhouse gas
emissions), the unit of measurement is explicitly disclosed for each indicator, such as
tonnes of carbon dioxide equivalent (tCO₂e).
All sustainability matters required under ESRS are reported at the level of BT Group. The
sustainability strategy and overarching policy frameworks are, in principle, applicable
across the entire Group and all subsidiaries, unless explicitly stated otherwise in the
relevant sections of the Sustainability Statement
Information on the value chain
During June 2025 and December 2025, the double materiality analysis (DMA) was reviewed
and updated to reflect developments in the Group’s activities, portfolio structure, risk
profile, and external environment, as well as to ensure enhanced alignment with ESRS
requirements and current reporting practices in the financial sector. The update included a
revalidation of previously identified impacts, risks, and opportunities, and a recalibration of
scoring where necessary.
This updated analysis covered the entire value chain, structured as follows:
• Upstream value chain
o IT systems and equipment suppliers
o Payment service providers
o Cleaning, security, and protection service providers
o Depositors (clients providing funding)
o Investors in bonds issued by the Bank
o Business partners (law firms, consultants, auditors)
o Non-governmental organisations (NGOs)
• Own operations
o Buildings, IT equipment, direct consumption, vehicle fleet
o Human resources
6
Sustainability Statement 2024, Banca Transilvania Financial Group
o Governance and compliance
o Legal
o IT
• Downstream value chain
o Retail segment: Individuals
o Non-retail segment:
▪ micro-enterprises
▪ SMEs
▪ medium-sized companies
▪ large corporations
▪ treasury activities
▪ other segments (Corporate Center)
o Leasing
o Asset management
o Pension funds
o Insurance
The Sustainability Statement covers all material sustainability matters identified across the
entire value chain, with a particular focus on downstream activities, especially the lending
portfolio, where the most significant impacts, risks, and opportunities have been identified.
This approach reflects the specific business model of BT Group, which comprises multiple
entities carrying out complementary financial activities, as well as the fact that the Group’s
most significant environmental and social impacts are primarily indirect, arising from
financed activities. In this context, the value chain analysis places emphasis on the
relationship with clients and the economic sectors financed, in line with the PCAF principles
on financed emissions and portfolio impact assessment. This enables stakeholders to
better understand both the scale of potential positive and negative impacts on the
environment and society, as well as the measures implemented by the Group to manage
these impacts and associated risks.
BP-2 – Disclosures in relation to specific circumstances
Time horizons
The Group’s material impacts, risks, and opportunities have been assessed over the short,
medium, and long term, in accordance with the general principles set out in ESRS 1. In the
sustainability statement, the time horizons for information related to the Group’s material
impacts, risks, and opportunities are defined as follows:
• “short term”: 1 year; the short term refers to the financial reporting period
• “medium term”: 1–5 years
• “long term”: more than 5 years
7
Sustainability Statement 2024, Banca Transilvania Financial Group
Assumptions, estimates, and approximations
Certain indicators include information on the value chain, obtained either directly from
clients and companies in which the Group invests or which it finances, or indirectly from
external databases or industry-level estimates.
The most significant uncertainties are associated with the reporting of greenhouse gas
(GHG) emissions, in particular for Scope 3, due to methodological limitations and reliance
on data from external sources. In addition, reporting in accordance with the EU Taxonomy
involves limitations regarding the accessibility of data reported by the Group’s clients.
Further details are available in the Environmental Information chapter, in the relevant
subchapters (Taxonomy Information, Climate Change).
The level of accuracy achieved for these indicators depends to a large extent on the quality
and accessibility of the external data sources used. Although we aim to calculate the
indicators with a high degree of precision, the inherent uncertainties of estimates make it
important to interpret them in light of existing limitations.
To improve the quality of reported data, the Group invests in more efficient data collection
methods and update the methodologies applied in line with best practices.
Standards used for calculating or reporting of certain indicators
In addition to the ESRS requirements, the methodology used by the Group for estimating
greenhouse gas emissions has been developed taking into account the principles and
methodological guidelines set out in the GHG Protocol Corporate Accounting and Reporting
Standard, used for quantifying emissions generated by the Group’s own operations. For the
estimation of emissions associated with loan and investment portfolios, the Group
considered the methodological guidance provided by the Partnership for Carbon
Accounting Financials (PCAF), specifically the Global GHG Accounting and Reporting
Standard for the Financial Industry – Part A: Financed Emissions (Second Edition, 2022).
The detailed description of the methodology used to calculate greenhouse gas emissions,
both for own operations and for the financing portfolio, as well as the results of the
estimates, are presented in Chapter 2.2 – Climate Change, of this Statement.
Furthermore, for the identification and analysis of impacts associated with the financing
portfolio, the Company used the methodology and tools developed by the UNEP Finance
Initiative, including the UNEP FI framework for mapping economic sectors to ESRS topics,
sub-topics and sub-sub-topics. This approach enabled the systematic assessment of
potential positive and negative impacts generated through financing activities, based on
the characteristics of the financed economic sectors and the relevant exposures within the
portfolio.
8
Sustainability Statement 2024, Banca Transilvania Financial Group
The use of UNEP FI tools supported the process of aggregating and prioritizing impacts at
the portfolio level and contributed to the substantiation of the DMA.
1.2 Governance and Responsibilities
Shareholders
At Banca Transilvania, we maintain transparent and effective communication with our
shareholders, and additional information is available in the investor relations section.
Banca Transilvania is the parent company of the BT Financial Group, holding majority stakes
in its subsidiaries. Most entities within the Group use the BT brand and corporate identity,
and the concept of “group” and the principles of customer service apply to subsidiaries
operating outside Romania as well.
Through its governance structures, Banca Transilvania exercises its role as the majority
shareholder/associate in relation to its subsidiaries, setting strategic directions at the Group
level and defining their governance structures. In its relationship with these entities, Banca
Transilvania ensures an appropriate governance and management framework, tailored to
the specific nature of each subsidiary’s activities and risks, thereby contributing to the
coherent and integrated operation of the BT Financial Group.
Shareholder Structure for Banca Transilvania S.A.
Shareholders
12/31/2025
12/31/2024
NN Group (*)
9.37%
9.37%
European Bank for Reconstruction and Development
(EBRD)
5.16%
5.16%
Romanian individuals
25.15%
24.21%
Romanian companies
45.56%
45.20%
Foreign individuals
1.17%
1.11%
Foreign companies
13.59%
14.95%
Total
100.00%
100.00%
(*) NN Group N.V. and the pension funds managed by NN Pensii SAFPAP S.A. and NN Asigurări de Viață S.A.
9
Sustainability Statement 2024, Banca Transilvania Financial Group
Shareholder Structure for Victoriabank
Shareholders
12/31/2025
12/31/2024
VB Investment Holding (*)
72.19%
72.19%
Individuals, Republic of Moldova
27.41%
27.43%
Legal entities, Republic of Moldova
0.33%
0.31%
Foreign individuals
0.07%
0.07%
Total
100.00%
100.00%
(*) Banca Transilvania holds an indirect stake in VB of 44.63%; the EBRD holds an indirect stake in VB of 27.55%
Subsidiary
Field of activity
Percentage of
ownership
Direct and indirect
December 31, 2025
Percentage of
ownership
Direct and indirect
December 31, 2024
Victoriabank S.A.
Licensed financial, banking, and
investment activities
44.63%
44.63%
BCR Chișinău S.A.
Licensed financial, banking, and
investment activities
0%
44.63%
BT Capital Partners S.A.
Investments
99.62%
99.62%
BT Leasing Transilvania IFN S.A.
Leasing
100%
100%
BT Investments S.R.L.
Investments
100%
100%
BT Direct IFN S.A.
Consumer loans
100%
100%
BT Building S.R.L.
Investments
0%
100%
BT Asset Management SAI S.A.
Asset Management
100%
100%
BT Solution Asistent în Brokeraj
S.R.L.
Insurance Broker
0%
100%
BT Asiom Insurance Agent S.R.L.
Insurance Broker
0%
100%
BT Safe Insurance Agent S.R.L.
Insurance broker
0%
100%
BT Intermedieri Insurance Agent
S.R.L.
Insurance broker
0%
100%
BT Leasing MD S.R.L.
Leasing
100%
100%
BT Microfinancing IFN S.A.
Other lending activities
100%
100%
Improvement Credit Collection
S.R.L.
Activities of collection agencies
and credit reporting bureaus
100%
100%
VB Investment Holding B.V.
Holding activities
61.82%
61.82%
BT Pensii Societate de
Administrare a Fondurilor de
Pensii Facultative S.A.
Pension fund management
(excluding those in the public
system)
100%
100%
10
Sustainability Statement 2024, Banca Transilvania Financial Group
Subsidiary
Field of activity
Percentage of
ownership
Direct and indirect
December 31, 2025
Percentage of
ownership
Direct and indirect
December 31, 2024
Salt Bank S.A.
Licensed financial, banking, and
investment activities
100%
100%
Avant Leasing IFN S.A.
Financial leasing
0%
100%
BT Insurance Broker S.R.L.
Insurance broker
100%
100%
Code Crafters by BT S.R.L.
Custom software development
100%
100%
BTP One S.R.L.
Leasing and subleasing of owned
or leased real estate
99.73%
100%
BTP Retail S.R.L.
Leasing and subleasing of owned
or leased real estate
99.73%
100
BTP Store Hub Turda S.R.L.
Leasing and subleasing of owned
or leased real estate
99.73%
100%
BTP Store Hub Oradea S.R.L.
Leasing and subleasing of owned
or leased real estate
99.73%
100%
OTP Bank Romania S.A.
Other monetary intermediation
activities
0%
100%
Inter Terra S.R.L.
Purchase and sale of own real
estate
99.73%
100%
INNO Investments S.A.I. S.A.
Asset management
100%
100%
OTP Advisors S.R.L.
Investments
0%
100%
OTP Factoring S.R.L.
Asset Management
100%
100%
REA Project One Company S.R.L.
Real Estate Development
0%
100%
GOVCKA Project Company S.R.L.
Real estate development
0%
100%
OTP Consulting Romania S.R.L.
Activities auxiliary to financial
intermediation, excluding
insurance and pension fund
activities
0%
100%
O.C.N. Microinvest S.R.L
Other lending activities
44.63%
0
BRD Societate de Administrare a
Fondurilor de Pensii Private S.A.
Pension fund activities (excluding
those in the public insurance
system)
100%
0
Secure Cash Express SRL
Investigation and private security
services
100%
0%
Microinvest Technology LLC
Custom software development
44.63%
0%
11
Sustainability Statement 2024, Banca Transilvania Financial Group
DR GOV-1 – Role of the administrative, management and supervisory bodies
The governance structure at Banca Transilvania comprises: the supervisory body - the
Board of Directors, consisting of 7 non-executive members, and the senior executive
management - the Leaders’ Committee, consisting of 8 executive members, hereinafter
collectively referred to as the management bodies
.
At the level of the subsidiaries included in the BT Group, the governance structure is similar
and is presented in the section dedicated to each of them below.
The members of the Board of Directors (BoD) are elected by the shareholders during the
General Meeting of Shareholders (GMS) for a period of 4 years, in accordance with the
provisions of the specific regulations issued by the NBR, the authority responsible for
guidance, coordination, supervision, and control. In addition, it undertakes analyses and
establishes programs for specific periods of the financial year, with the aim of ensuring the
Bank’s appropriate development in the market.
Within the Bank, it has the following structure:
• Chairman of the Board of Directors,
• Vice Chairman of the Board of Directors,
• 5 directors – members of the Board of Directors.
Details regarding the composition of the Board of Directors, roles and
responsibilities, as well as information about the Committees under its authority, are
available in Chapter 8, Corporate Governance.
⁙ ⁙ ⁙
71.43% of the members of the Board of Directors are independent.
0.4 is the diversity ratio at the level of the Board of Directors,
with 28.5% women and 71.5% men.
Composition of the Board of Directors by gender and age
BT Board of Directors
Women
Men
Total
No.
%
No.
%
No.
%
Under 30
0
0
0
0
0
0
30–50 years
0
0
1
14.29
1
14.29
>50 years
2
28.57
4
57.14
6
85.71
Total
2
28.57
5
71.43
7
100.00
12
Sustainability Statement 2024, Banca Transilvania Financial Group
The members of the Leaders’ Committee (LC) are appointed by the Board of Directors and
are required to meet the legal conditions, respectively to be approved by the NBR prior to
the effective commencement of their mandate.
At the level of the Leaders’ Committee, employees and human resources matters are also
represented through the Human Resources Director, who reports directly to the CEO.
Details regarding the composition of the Leaders’ Committee, roles and
responsibilities, as well as information on the Committees under its authority, are
available in Chapter 8, Corporate Governance.
⁙ ⁙ ⁙
The gender ratio on the Leaders Committee is 0.14,
with 12.5% women and 87.5% men.
Composition of the Leaders’ Committee by gender and age
BT Leaders’
Committee
Women
Men
Total
No.
%
No.
%
No.
%
Under 30
0
0
0
0
0
0
30–50 years
1
12.5
4
50.0
5
62.5
>50 years
0
0
3
37.5
3
37.5
Total
1
12.5
7
87.5
8
100.0
With regard to the knowledge, skills, and experience of the management body, within
Banca Transilvania, the Nomination Committee is responsible for assessing these in
accordance with the principles and policies for staff nominations, which must be aligned
with the Bank’s strategy and values.
The rules governing the assessment of the adequacy of the knowledge and skills of the
members of the management are also applied at the level of subsidiaries, in compliance
with the principle of proportionality. Where a subsidiary does not have a Nomination
Committee, its responsibilities are assigned to the Board of Directors. Considering the
reduced impact and complexity of subsidiaries, the adequacy assessment targets only
members of the management (directors and executives, where applicable). Subsidiaries
issue their own regulations and apply simplified rules, depending on the specifics of their
activities, while adhering to the general principles. In the case of specific legal
requirements, these take precedence over the Group’s internal provisions.
The governance structures at the level of BT Group subsidiaries as of 31 December
2025, are presented in Addendum 3.
13
Sustainability Statement 2024, Banca Transilvania Financial Group
Sustainability Governance
Banca Transilvania Governance Structure
The governing bodies play an essential role in overseeing the Bank’s business conduct,
ensuring the integration of ethical standards, compliance frameworks, and governance
principles into all aspects of operations. Among the main responsibilities of these bodies
are the establishment and periodic review of ethical standards and policies, such as the
Code of Conduct, anti-corruption policies, and fair competition policies, thereby ensuring
compliance with international standards. They oversee the implementation of compliance
frameworks to ensure adherence to regulatory requirements and best practices in
combating money laundering, bribery, and the protection of personal data. They also
monitor the effectiveness of internal controls and whistleblowing mechanisms. The
governing bodies are responsible for integrating ESG (environmental, social, and
governance) principles into the Bank’s activities, including with regard to human rights and
social responsibility. These bodies are composed of experts with diverse qualifications,
providing oversight and strategic guidance for business conduct. Their responsibilities are
reflected in the suitability assessment policy for members of the governing bodies of Banca
Transilvania and the BT Group.
The General Shareholders’ Meeting (GSM) is the highest decision-making authority,
providing strategic direction and approving major decisions affecting the Bank’s
governance and operations. The GSM sets organizational objectives, which include ESG
14
Sustainability Statement 2024, Banca Transilvania Financial Group
initiatives, and allocates resources by approving the annual budget to achieve these
objectives.
The Board of Directors holds the ultimate authority for overseeing the Bank’s strategic
direction, including material impacts, risks, and opportunities, and monitors the
implementation of the sustainability strategy and compliance with ESG standards across
all activities of the BT Group, in both lending and internal operations. The Board periodically
reviews ESG performance and alignment with the Sustainable Development Strategy,
ensuring that relevant risks and opportunities are adequately managed. The Chair of the
Risk Management Committee oversees the implementation of the ESG strategy and its
integration into risk policies.
The Audit Committee verifies compliance with applicable ESG regulations.
The Risk Management Committee is responsible for conducting a rigorous assessment of
key and emerging risks, including those related to sustainability and governance, that could
threaten the Group’s capital adequacy and solvency. The Committee is tasked with
ensuring that the risk management framework aligns with the business strategy, which
includes integrating ESG risks into the decision-making process and organizational culture,
thereby promoting a proactive approach to managing these risks. This contributes to
fostering a culture of risk-taking and achieving robust governance within the Group.
The Leaders’ Committee is responsible for the Bank’s operational management and
implements the strategies established by the Board of Directors, including the ESG
strategy. It also handles the assessment and management of operational risks and
opportunities that arise in the course of business.
The ESG Committee, chaired by the Chief Risk Officer (CRO) and reporting directly to the
Leaders’ Committee, was established by the Bank in April 2024 to coordinate and
implement the Bank’s sustainability strategy. Its role is to create a robust framework for
integrating ESG factors into risk management, financing practices, and stakeholder
engagement strategies. The Committee monitors legislative developments, promotes
education and awareness among employees, and ensures transparent reporting of the
Group’s ESG performance.
Composed of experienced leaders who oversee the structures responsible for
sustainability, the Committee oversees ESG initiatives to ensure they align with the
organization’s long-term objectives. It also identifies relevant risks and opportunities,
providing guidance on how to address them, and assigns ESG-related tasks to the
appropriate units within the Bank, thereby facilitating the implementation of the approved
ESG strategy.
ESG responsibilities are distributed across several relevant departments of the Bank, with
the Investor Relations & ESG Integration Department serving as the coordinator.
15
Sustainability Statement 2024, Banca Transilvania Financial Group
The main categories of responsibilities in this regard include:
• Overseeing and implementing the Bank’s sustainability and responsible business
policies, practices, and initiatives.
• Defining and updating the sustainability strategy, as well as managing ESG
reporting, including the preparation of the sustainability statement.
• Granting green loans and other sustainable financing solutions, in accordance with
the internal eligibility framework and the objectives set out in the sustainability
strategy.
• Providing the information necessary to obtain an ESG rating.
• Developing the methodology for estimating emissions from the Group’s own
operations (direct and indirect) and emissions related to the Group’s loan portfolio
(financed emissions).
• Developing and implementing the prudential transition plan and the climate
transition plan.
• Analyzing risks related to corporate clients from an ESG perspective (climate risk -
physical and transition, environmental risk, social risk, governance risk).
• Establishing annual training plans for developing ESG & Sustainability competencies
across the Group.
• Monitoring, analyzing, and implementing changes to the legislative framework
relevant to ESG and sustainability issues.
• Developing the methodology for applying the EU Taxonomy Regulation and
reporting indicators in accordance with this regulation.
• Ensuring the governance framework for integrating ESG aspects into decision-
making processes.
• Coordinating the process of joining relevant domestic and international
organizations.
The Investor Relations & ESG Integration Department acts as a catalyst for embedding
sustainability and responsible practices within the organization. It also helps secure
financing from financial institutions, acting as a “project manager,” and maintains effective
communication channels to facilitate transactions that support the Bank’s business
development and meet its requirements. In addition, it coordinates the initiation,
organization, and completion of due diligence processes, ensuring the archiving and
retention of documentation, managing the relationship with the counterparty, and
collaborating with all involved departments.
The department also manages M&A opportunities from a business perspective, assuming
the role of project manager and coordinating the preparation of necessary materials.
Depending on the case, it is involved in pre- and post-transition activities from a business
perspective.
16
Sustainability Statement 2024, Banca Transilvania Financial Group
In its investor relations, the department aims to maintain high-quality and continuous
communication, thereby promoting the Bank’s image both internally and internationally.
SME and Corporate Business Line
Within the SME and Corporate Business Line, each department has at least one person
with responsibilities in the area of sustainability. Thus, the units responsible for product
development, specialized sectors, and the coordination of the SME and micro-client
segment or medium-sized corporate clients have specific resources allocated to implement
strategic sustainability objectives.
In 2022, the Green and Sustainable Loans Department was established, with objectives
that extend across all lending lines for corporate clients, including large corporate clients,
corporate clients, and SMEs. Its main responsibilities include:
• Initiating and maintaining collaboration with national and international authorities in
the field of green finance.
• Proposing Internal Rules of Procedure for lending to clients investing in green
projects.
• Promoting the products and services developed by the department.
• Creating programs and products dedicated to sustainability and organizing training
sessions for employees.
• Identifying clients and promoting financing alternatives for green projects.
• Participating in the development of Banca Transilvania’s sustainability strategy.
• Supporting the implementation of the Bank’s sustainability strategy, with the aim of
growing the portfolio of green and sound loans.
Retail Banking Business Line
Within the Retail Banking business line, there are specific responsibilities for implementing
objectives related to retail products and services, including green products or those with
sustainability components, as well as responsibilities for monitoring, implementing, and
reporting on relevant regulations.
Large Corporate Clients Business Line
The Large Corporate Clients business line, where there are responsibilities to address and
manage the expectations of the most sophisticated client segment, with complex financing,
including from an ESG perspective.
17
Sustainability Statement 2024, Banca Transilvania Financial Group
Support Functions in Banca Transilvania’s Departments
The Deputy CEO, CRO, oversees:
• A dedicated environmental and social risk analysis unit with the following
responsibilities: developing environmental policy, assessing environmental and
social risks associated with financing as part of credit risk analyses for clients,
monitoring environmental and social incidents reported by clients, and providing
support and advice to colleagues on ESG issues.
• The non-financial and ESG risk management unit is responsible for analyzing trends
and identifying emerging risks caused by market changes and macroeconomic
conditions, including risks related to climate change.
The Procurement Department (reporting to the Deputy CEO, COO):
• manages procurement, investment, and logistics activities at the Bank and its
subsidiaries.
• integrates ESG criteria into procurement methodologies and regulations, including
in the selection and evaluation processes for BT Group suppliers.
• contributes to managing the Bank’s environmental impact by monitoring and
evaluating resource consumption and coordinates the calculation of direct and
indirect greenhouse gas emissions related to Scopes 1, 2, and 3, in accordance with
the GHG Protocol.
• Identifies and implements measures to improve consumption efficiency, with the aim
of reducing operational costs and mitigating the negative environmental impact.
Reporting (reporting to the Deputy CEO, CFO):
• Coordinates financial reporting and contributes to sustainability reporting, including
in areas such as the EU Taxonomy and CRC requirements.
• facilitates the alignment of reporting processes with applicable regulatory
requirements, relevant standards, and current best practices, and supports the
collection, consolidation, and validation of financial information required for
sustainability reporting, in coordination with the relevant departments.
Senior Executive Director, Corporate Governance and Non-Credit Legal:
• coordinates a unit with specific responsibilities regarding non-financial reporting in
accordance with industry best practices and internationally recognized standards
• ensures the governance framework that supports the integration, monitoring, and
oversight of ESG aspects in lending activities and decision-making processes.
• coordinates the integration of ESG criteria into executive nomination processes and
contributes to establishing the ESG performance indicators used in compensation
policies
18
Sustainability Statement 2024, Banca Transilvania Financial Group
• monitors, evaluates, and contributes to the development of measures to reduce the
gender pay gap as part of the governance framework and human resources
practices.
Senior Executive Director of Human Resources:
• coordinates resources dedicated to social sustainability issues, with a focus on the
Group’s workforce, and ensures the integration of human rights principles into
human resources policies and practices, including non-discrimination and equal
opportunity.
• coordinates employee training and professional development initiatives in line with
sustainability objectives, promotes an inclusive work environment, and leverages
the benefits of diversity within the workforce.
• Develops and implements initiatives to increase employee engagement, designed to
support professional and personal well-being and contribute to achieving business
unit objectives.
Executive Director of Marketing, Communications, and Customer Experience:
• coordinates corporate social responsibility (CSR) activities at the BT Group level
• ensures the integration of ESG aspects into the Group’s internal and external
communications and coordinates messages and communication materials regarding
sustainability initiatives, in line with the Group’s strategy and governance framework.
• supports transparency and consistency in communication with stakeholders
regarding ESG and sustainability issues.
At the Bank level and covering the entire spectrum of activities, representatives of these
structures form an internal working group coordinated by the CEO. Without becoming a
formalized structure, the working group meets periodically to implement the Bank’s
sustainability strategy and promotes effective interdepartmental collaboration, shares
knowledge, analyzes initiatives, and reports on progress related to each strategic objective,
either through the Sustainability Statement or via internal communications.
Sustainability Governance within Subsidiaries
Each subsidiary of the BT Group has designated a person responsible for sustainability.
These individuals meet periodically with the Bank’s working group and maintain contact
with it to align the implementation of sustainability initiatives and ensure the coordination
of activities and projects in this area.
BT Microfinanțare IFN S.A. (BT Mic): follows the strategic objectives established at the
level of the BT Group, which also apply to subsidiaries, and has voluntarily developed its
own ESG strategy. This strategy is integrated into the company’s business strategy and is
subject to an annual review process. At the executive level, the Executive Management
Committee is responsible for implementing the objectives of the ESG strategy through the
19
Sustainability Statement 2024, Banca Transilvania Financial Group
relevant departments and the designated person with specific responsibilities in this area.
The adopted governance model supports the prioritization of objectives resulting from
consultation with the company’s stakeholders - customers, employees, investors,
shareholders, and regulatory authorities – while also monitoring the objectives and
performance indicators established at the BT Group level.
BT Capital Partners S.A. (BTCP): integrates ESG principles into its strategy and activities,
in line with the policies and sustainability framework of the BT Group. The company’s
management is responsible for adopting and implementing relevant strategic directions in
the field of sustainability, ensuring that operational and decision-making processes reflect
the governance, environmental, and social requirements established at the Group level. The
person designated for sustainability maintains contact with the Group and contributes to
the coordination of ESG initiatives and reporting.
BT Pensii Societate de Administrare a Fondurilor de Pensii Private S.A.: within BT Pensii,
sustainability governance is coordinated at the executive management level, which is
responsible for implementing the sustainability strategy in line with the guidelines
established at the BT Group level and with the regulations applicable to the private pension
fund sector. The company has designated an ESG responsible, whose role is to monitor the
integration of environmental, social, and governance principles into operational processes,
as well as to collaborate with the Group to align specific reporting and initiatives.
BRD Pensii Societate de Administrare a Fondurilor de Pensii Private S.A. (BRD Pensii):
Acquired at the end of 2025, the subsidiary is in the process of developing and
implementing its own sustainability governance framework, aligned with the ESG
governance model of BT Group.
BT Direct IFN S.A.: follows the sustainability strategy of Banca Transilvania Group and
contributes data for the preparation of the Group’s consolidated financial statements and
reports. The company aims to integrate ESG principles into its operational model and
business strategy, maintaining its commitment to generating a positive impact on social
and environmental aspects through the objectives set out in its own Sustainable
Development Strategy. At the level of the Board of Directors and Management, in 2025, BT
Direct’s Sustainability Policy and the Sustainable Development Strategy for the period
2025–2027 were approved, documents which strengthen the directions of action and the
governance framework regarding sustainability.
BT Asset Management SAI S.A. (BTAM): follows the Banca Transilvania Group’s
sustainability strategy and contributes with data to the preparation of the Group’s
consolidated financial statements and reports. The company aims to integrate ESG
principles into its operational model and business strategy, maintaining its commitment to
generating a positive impact on social and environmental issues, in line with the objectives
set out in the Group’s Sustainable Development Strategy. Governance of sustainability
issues is ensured at the level of the management bodies and is reflected in the company’s
20
Sustainability Statement 2024, Banca Transilvania Financial Group
internal policies and procedures. BT Asset Management communicates to investors and all
stakeholders the focus of the BT Maxim, BT Technology, and BT Real Estate Funds on
investments that promote environmental, social, or a combination of these characteristics,
in accordance with Article 8 of EU Regulation 288/2019 on the disclosure of sustainability-
related information in the financial services sector, known as the Sustainable Finance
Disclosure Regulation (“SFDR”). Information regarding BT Asset Management SAI’s
sustainability initiatives is available on the company’s website, here.
SALT Bank S.A.: Sustainability activities are aligned with the ESG strategy and initiatives
implemented at Banca Transilvania. The coordination of ESG initiatives and strategy is
carried out at Banca Transilvania, based on collaboration and information provided by SALT,
in accordance with the BT Group’s policies on group relations, approved and ratified by the
Board of Directors of Salt Bank.
Victoriabank S.A.: Sustainability governance is exercised at the level of the Board of
Directors of Victoriabank S.A. (BoD), which is responsible for overseeing the integration of
ESG aspects into the bank’s strategy, policies, and decision-making processes. The Board
approves strategic guidelines relevant to sustainability, including social and environmental
policies, and monitors their implementation in alignment with business objectives and the
risk management framework. The Board of Directors periodically assesses the
effectiveness of the bank’s ESG governance framework and ensures its alignment with
applicable regulatory requirements and the bank’s long-term interests. Additionally, the
Board oversees compensation policies, including principles relevant from a sustainability
perspective, to support responsible and balanced performance.
BT Leasing MD S.R.L.: Integrates ESG principles into its governance framework and
operational activities, in line with the policies and sustainability framework of the BT Group.
The entity applies the strategic directions established at the Group level, incorporating
sustainability criteria into financing processes and decision-making mechanisms.
Responsibility for coordinating and overseeing sustainability matters rests with the CEO, in
his capacity as sole executive officer, who ensures alignment with the Group’s internal
requirements and monitors the integration of ESG factors into the company’s strategy and
operations.
O.C.N. Microinvest S.R.L. (Microinvest): Sustainability governance is integrated into the
company’s overall management framework and reflects how strategic decisions are made,
risks are managed, and compliance with legislative, supervisory, and BT Group
requirements is ensured. The management structure includes the General Meeting of
Shareholders, the Board of Directors, and the Chief Executive Officer, each with well-
defined responsibilities for overseeing, coordinating, and implementing strategic
objectives. Together, they form a governance system focused on transparency,
accountability, and operational continuity.
21
Sustainability Statement 2024, Banca Transilvania Financial Group
In addition to this structure, Microinvest benefits from a number of specialized committees
that support good governance and contribute to the consistent monitoring of risks,
compliance, and operational performance. Among these, the ESG Committee plays a
central role, being responsible for tracking the implementation of sustainability
requirements, assessing social and environmental impact, analyzing green portfolios, and
proposing measures to improve ESG performance. The Committee comprises the ESG
specialist and at least two members of the senior management team, reflecting the
company’s commitment to integrating ESG principles into decision-making and operational
processes.
INNO Investments S.A.I. S.A. (INNO Investments): follows the Banca Transilvania Group’s
sustainability strategy and contributes its own data to the preparation of the Group’s
consolidated statements and reports. The company aims to integrate ESG principles into
its operational model and business strategy, maintaining its commitment to generating a
positive impact on social and environmental aspects, in line with the objectives set out in
the GFTB Sustainable Development Strategy. INNO Investments communicates to investors
and all interested parties the Innovation Fund’s focus on investments that promote
environmental, social, or a combination of these characteristics, in accordance with Article
8 of EU Regulation 288/2019 on the disclosure of sustainability-related information in the
financial services sector, known as the Sustainable Finance Disclosure Regulation (“SFDR”).
BT Broker de Asigurare S.R.L. (BT Broker): The CEO, in his capacity as the sole executive
officer of BT Broker, is responsible for overseeing how the company manages ESG impacts
and for ensuring responsible management of its activities. He acts in accordance with the
company’s Internal Rules of Procedure and ensures that BT Broker is aligned with the
sustainability policies, practices, and initiatives implemented at the Group level. Currently,
the company has not designated specific responsibilities for a separate sustainability
function; however, the CEO ensures compliance with the decisions of the Board of Directors
and the General Meeting, as well as the integration of ESG requirements into operational
activities.
BT Leasing Transilvania IFN S.A. (BTL): BT Leasing follows the Banca Transilvania Group’s
sustainability strategy and contributes its own data to the preparation of the Group’s
consolidated financial statements and reports. The company integrates ESG principles into
its operational model, maintaining its commitment to generating a positive impact on
environmental and social issues. Responsibilities related to ESG and sustainability are
assigned to the Risk Division. The Deputy CEO for Risk and Compliance is responsible for
coordinating sustainability matters in accordance with the internal regulatory framework.
Internal environmental and financing policies define how to assess the environmental risk
associated with clients, based on their profile and the economic sector in which they
operate. Environmental risk is integrated into the client’s overall risk profile.
22
Sustainability Statement 2024, Banca Transilvania Financial Group
The Sales Division is responsible for allocating resources to green financing, contributing
to the growth of the portfolio of products with a positive environmental impact.
DR GOV-2 – Information provided to and sustainability matters addressed by the
undertaking’s administrative, management and supervisory bodies
Informing management bodies on sustainability-related issues
The management bodies of BT Group are informed about sustainability-related issues
through:
• Periodic reports (monthly/quarterly/annual) issued by the relevant departments,
including the status of key performance indicators (KPIs), risks, and progress made
toward achieving sustainability goals,
• Specialized sustainability reports addressing specific topics such as material
impacts, risks, and opportunities, prepared in accordance with applicable legislation,
such as the CSRD Directive and the EU Taxonomy Regulation,
• Ad hoc meetings for specific situations requiring immediate decisions and approvals;
• Whenever a decision to be taken by the management body has a potential
significant and negative impact in the ESG sphere, it must receive from the Leaders’
Committee, or from another competent body within the bank, an analysis of how
this decision aligns with the Company’s sustainability objectives and ESG policies,
or a proposal for measures to mitigate the negative ESG impact.
The Bank’s business strategy incorporates coherent sustainability objectives, monitored
through key performance indicators across the following strategic areas: economic
performance, people, and the environment. The objectives, formally defined in Banca
Transilvania’s Sustainability Strategy, determine the actions and measures necessary to
address material impacts, risks, and opportunities.
The impacts, risks, and opportunities addressed by management during the reporting
period included the following:
• Sustainable financing and supporting the green transition: expanding the range of
green and sustainable financial products, by granting green loans to legal entities
and individuals, as well as issuing green bonds that contribute to supporting
responsible entrepreneurship by financing and refinancing projects that enable the
transition to a low-carbon and climate-resilient economy and/or that create a
positive impact on society and mitigate social issues. To support these efforts, the
Group has developed the Sustainable Finance Framework, a document that defines
the green and social instruments the Group may issue and the eligibility criteria for
the financing it provides from the resources it manages, offering a unified structure
for the classification and reporting of sustainable finance instruments.
23
Sustainability Statement 2024, Banca Transilvania Financial Group
• Climate change and environmental impact: monitoring Group-level financed
emissions, as well as environmental, physical climate, and transition risks associated
with the Bank’s corporate loan portfolio.
• Employees and the community: ensuring fair labor practices, such as adequate
compensation, occupational safety and health, professional training, diversity,
equity, and inclusion (DEI), and community engagement to enhance financial
literacy. At the same time, supporting the entrepreneurial ecosystem (microfinance,
startups) through various means was also addressed.
• Regulatory compliance: Adapting to evolving EU sustainability reporting standards
(CSRD and ESRS) and ensuring alignment with reporting obligations, including the
EU taxonomy and the SFDR.
Developing the appropriate skills and expertise to oversee sustainability aspects
BT ensures the sustainability expertise of its governing bodies through several measures:
• Direct experience: Members of the Board of Directors and the executive
management team oversee structures that include specialists with relevant
experience in managing environmental, social, and governance (ESG) issues, such
as: specialists in climate risk, supply chain sustainability, sustainable finance, human
resources, etc.
• Access to external expertise: When additional expertise is needed, management
collaborates with external experts and leading industry organizations to obtain
analysis and guidance on specific sustainability topics.
• Training and professional development: BT offers targeted training sessions on
sustainability topics and encourages participation in external workshops,
conferences, and webinars to continuously improve the sustainability expertise of
management bodies.
• Ongoing assessment of expertise needs: The Governance Department, the Human
Resources Department, and the Nomination Committee regularly assess existing
skills and expertise to ensure they meet the company’s needs. If these are not
available internally and cannot be developed through training and professional
development or by accessing external expertise, the company engages in
recruitment processes.
GOV-3 – Integration of sustainability-related performance in incentive schemes
Principles for sustainability-related remuneration for members of the administrative,
management, and supervisory bodies
The performance of management bodies is linked to specific sustainability objectives or
impacts, the achievement of which is reflected in the remuneration of their members. The
use of such individual performance objectives ensures alignment between the bank’s
24
Sustainability Statement 2024, Banca Transilvania Financial Group
remuneration practices, the interests of senior management, and the bank’s overall
sustainability and responsibility objectives. ESG objectives are rated on a scale of 1 to 5,
influencing the decision to grant or withhold the corresponding variable remuneration.
The bank implements remuneration mechanisms that are aligned with the European
Banking Authority’s Guidelines on sound remuneration policies under Directive 2013/36/EU
(EBA/GL/2021/04), ensuring a balance between fixed and variable remuneration.
The remuneration of the members of the Board of Directors is determined by the General
Meeting of Shareholders. In accordance with the applicable legal provisions regarding
sound remuneration policies, members of the management body in its supervisory function
(the Board of Directors) are remunerated exclusively with fixed remuneration, precisely to
adequately address conflicts of interest and to eliminate potential incentive mechanisms
based on the institution’s performance (taking into account the guidelines of the European
Banking Authority – EBA). Also, in accordance with EBA provisions, as Banca Transilvania is
a listed company, it stipulates that remuneration be paid partly in RON and a significant
portion in shares through a stock option plan, within the maximum limits approved by the
General Meeting of Shareholders. Shares are allocated after a vesting period of at least one
year and are not performance-based, promoting sound governance and risk management
practices.
The annual performance of the members of the Leaders’ Committee is evaluated according
to the SMART objectives' methodology, with performance evaluation criteria taking into
account a sufficient period of time to measure actual performance, using criteria that can
be quantified, both qualitative and quantitative. Among the established SMART objectives
is the achievement of key performance indicators (KPIs) related to sustainability, details of
which are presented in the Appendix – Remuneration Report.
Members of the Leaders’ Committee receive a fixed monthly remuneration approved in
accordance with corporate and legal regulations, and they also receive variable
remuneration paid in annual installments, with the first installment paid immediately in the
year following the one for which the objectives were set and the majority of it deferred over
a 5-year period.
Variable remuneration in shares is adjusted for ex-ante and ex-post risks, in accordance
with the remuneration policy approved by the General Meeting of Shareholders.
BT’s remuneration policy for members of the Board of Directors and the Leaders’ Committee
is based on accountability, alignment of incentives, and the stability of the Bank. This
mechanism is approved by the General Meeting of Shareholders or the Board of Directors,
with the advice of the Remuneration Committee, as applicable.
25
Sustainability Statement 2024, Banca Transilvania Financial Group
DR GOV-4 – Statement on due diligence
Basic elements of due diligence processes
(due diligence)
Page in the sustainability
statement
a) Integration of due diligence processes into
governance, strategy, and the business model
21, 116, 146–153
b) Involvement of affected stakeholders in all key
stages of due diligence processes
33–34, 149–151
c) Identification and assessment of negative impacts
49–53
d) Implementation of measures to address these
adverse impacts
77, 82–83, 105–106, 125–130
e) Monitoring the effectiveness of these efforts and
communicating the results
9, 78, 100, 106, 120–122, 131
26
Sustainability Statement 2024, Banca Transilvania Financial Group
DR GOV-5 – Risk management and internal controls over sustainability reporting
Risk management system and internal controls for the sustainability reporting process
The risk management and internal control system for sustainability reporting at Banca
Transilvania includes the following main components:
• Governance and Oversight: The Board of Directors, supported by dedicated
sustainability and risk management structures (primarily the ESG Committee), is
responsible for ensuring that sustainability-related risks are identified and managed
appropriately within the reporting process.
• Policies, procedures, and methodologies: These form the basis of sustainability
reporting and are periodically reviewed and updated to align with evolving
regulatory requirements (e.g., the EU Taxonomy).
• Data collection and verification: At the Bank level, the departments involved in the
sustainability reporting process coordinate the collection and verification of data
from each subsidiary within the Group.
• Internal Audit: The Internal Audit Department ensures the existence of adequate
internal control mechanisms, including with regard to the sustainability reporting
process, by verifying data compliance, the traceability of sources, and adherence to
internal procedures for validating reported information.
Key identified risks, their assessment, and control measures
Risk category
Description
Probability level
Impact
Control measures
Data accuracy
Incorrect, incomplete, or
inconsistent data; lack of
traceability.
Low
High
Clear procedures for data
collection and validation;
internal audit.
Definition of indicators
Unclear methodologies,
inconsistent application of
standards.
Low
Medium
Internal standardization and
training for the teams involved.
Quality of IT systems
Unadapted IT systems, lack of
integration between data
sources.
Medium
Medium
Investments in integrated
systems and ESG digitization.
Governance and
accountability
Unclear responsibilities, lack of
clear internal controls.
Low
High
Clarification of roles and
responsibilities; oversight by
the Board of Directors.
Legal non-compliance
Non-compliance with ESRS,
CSRD, taxonomy, and SFDR
requirements.
Low
High
Legislative monitoring, periodic
updating of the reporting
framework.
Outdated information
Reporting based on historical
data due to reporting lags
between entities.
Medium
Medium
Recurring process of reviewing
ESG content and policies.
27
Sustainability Statement 2024, Banca Transilvania Financial Group
Integration of findings into internal functions
Findings resulting from the assessment of risks associated with the sustainability reporting
process, as well as from internal control activities, are directly integrated into the Group’s
relevant functions and processes. In 2025, these included improving ESG data collection
and validation procedures, adjusting internal reporting policies, and updating
methodological manuals, such as:
• DMA Methodology
• Calculation of the carbon footprint and financed emissions
• Methodology for reporting indicators in accordance with the EU Taxonomy
• Methodology for Calculating the Gender Pay Gap
The involved departments are collaborating to translate the findings into concrete
corrective measures, which are implemented and monitored through agreed-upon action
plans.
The results of internal assessments and controls regarding the sustainability reporting
process are periodically reported by the Internal Audit function to the Audit Committee.
28
Sustainability Statement 2024, Banca Transilvania Financial Group
1.3 Strategy and Business Model
DR SBM-1 – Strategy, business model and value chain
The BT Group operates in two countries, with the most significant activity taking place in
Romania, accounting for over 95% of total assets. The other country where the BT Group
operates is the Republic of Moldova, where the BT Group, through its subsidiaries detailed
in the table in Chapter 1.1 “Basis for the Preparation of the Sustainability Statement,”
provides banking and financial leasing services, and Italy (through a bank branch opened
in Rome).
The Group offers a diverse range of financial services through its specialized entities.
Banca Transilvania, Victoriabank, and Salt Bank offer a wide range of financial products
and services for individuals and businesses, including loans and specialized financing
products, cards, savings and investment solutions, distribution of insurance, savings, and
investment products, digital payment solutions, private and premium banking services,
cash management services, and electronic platforms. BT Leasing Transilvania IFN S.A. and
BT Leasing MD offer auto leasing, including for electric and hybrid vehicles, as well as
equipment and agricultural leasing. BT Capital Partners provides investment services for
individuals and complex financial solutions for companies, including mergers, acquisitions,
and corporate financing. BT Direct is active in the consumer credit sector, such as credit
cards and personal loans. BT Asset Management and INNO Investments manage a variety
of investment funds, ranging from fixed-income funds to multi-asset and equity funds. BT
Microfinance and O.C.N. Microinvest S.R.L. offer microfinance products, including in the
agricultural and educational sectors, benefiting from support through European programs
such as InvestEU and other international financial mechanisms focused on financial
inclusion, economic development, and sustainable transition. BT Pensii and BRD Societate
de Administrare a Fondurilor de Pensii Private manage private pension funds under Pillar
III and Pillar II, respectively, contributing to the development of the local private pension
market and supporting long-term savings. Improvement Credit Collection specializes in
debt collection and recovery services, including through non-judicial or enforcement
proceedings. BT Insurance Broker offers brokerage services for insurance related to
leasing contracts and claims consulting.
Active Customers
Banca Transilvania
2025
2024
Trend
2025 vs. 2024
Individual Customers
4,448,962
4,088,119
+8.82%
Micro Business Customers
499,164
448,472
+11.30%
SME Customers
26,218
25,002
+4.86%
Medium-sized Corporate
Customers
9,029
8,761
+3.05%
29
Sustainability Statement 2024, Banca Transilvania Financial Group
Large Corporate Customers
1,750
1,509
+15.97%
Total
4,985,123
4,571,863
+9.03%
Note: The classification of legal entities within segments is governed by internal rules that
establish the conditions for classifying customers by business segment.
Banca Transilvania
2025
2024
Trend
2025 vs. 2024
No. of Branches
531
513
+3.50%
No. of ATMs
2,031
1,937
+4.85%
No. of POS terminals
178,414
148,000
+20.55%
No. of MFMs
696
651
+6.91%
Cards
8,145,668
7,172,201
+13.57%
Unique users on digital channels
4,928,070
4,435,953
+11.09%
• Banca Transilvania’s customer portfolio continued to expand at a steady pace in
2025, recording growth across all customer segments, once again demonstrating its
status as a universal bank in Romania.
• The number of individual customers reached 4,448,962, compared to 4,088,127 in
the previous year, marking an increase of 8.83%.
• The corporate segment, in turn, recorded positive growth, with the bank serving
536,161 companies in 2025, compared to 483,744 in 2024, reflecting an annual
increase of 10.84%. Within this segment, the dynamics of the sub-segments
highlight the consolidation of the corporate client base. The number of micro-
businesses served rose to 499,164 (vs. 448,472, +11.30%), that of SMEs to 26,218
(vs. 25,002, +4.86%), and the category of medium-sized corporate clients reached
9,029 (vs. 8,761, +3.06%). The large corporate client segment recorded one of the
most significant increases, reaching 1,750 companies in 2025 (vs. 1,509),
corresponding to a 15.97% increase.
• Banca Transilvania is the market leader in the card sector, with 8.1 million cards in
its portfolio, of which 769,000 are credit cards. Purchases made with these 8.1
million cards increased by 19% compared to the previous year.
• In 2025, over 470,000 individuals became BT customers, in addition to the more
than 130,000 customers who migrated following the integration of OTP Bank
Romania. A significant portion of the customers newly enrolled in 2025 chose to
open their accounts directly through the BT Pay app, without visiting a bank branch.
30
Sustainability Statement 2024, Banca Transilvania Financial Group
• BT has 4.9 million unique digital customers. These customers use the internet and
mobile banking services, BT Pay and BT Go. We are seeing a clear trend of growing
interest in digitalization, with customers increasingly preferring innovative solutions
that allow them to easily and efficiently manage financial services in the digital
environment, such as virtual cards, credit and savings products, insurance,
investments, and private pensions.
• The bank has reached over 5.7 million unique cards enrolled in BT Pay, Apple Pay,
Google Pay, Fitbit Pay, and Garmin Pay, and the number of mobile payments at
merchants in 2025 increased by 29% compared to 2024. At the same time, money
transfers from cards enrolled in BT Pay are increasingly popular, with their volume
rising by 70% compared to the previous year.
• As for the volume of non-card transactions made by individual customers through
digital channels, it recorded a 24% increase compared to the previous year.
• As of December 31, 2025, the Bank operates a network of 2,031 ATMs, of which 696
are multifunctional machines. The Bank also operates 577 BT Express terminals used
for various transactions other than cash withdrawals, has over 178,000 POS
terminals installed, 40,000 STAR partner locations, and collaborates with over 8,000
e-commerce merchants compared to 7,118 in the previous year, representing a
13.80% increase.
• Banca Transilvania’s branch network continued to expand in 2025, reaching 531
branches, compared to 513 in the previous year. This expansion, equivalent to a
3.51% increase, reflects the institution’s commitment to remaining close to the
communities it serves and to facilitating access to financial services for an ever-
growing number of customers.
• By the end of 2025, Chat BT had surpassed 1.5 million interactions. Thanks to
continuous optimizations, including quick and intelligent responses, multilingual
support (RO, EN, IT, HU), dynamic personalization, access to tutorials and resources,
and tailored insights, by the end of the year, over 80% of customers were able to
find the information they needed on their own, and 20% of conversations are
handled by a consultant (live chat conversion rate: 20%).
• The Premium segment grew in 2025 to approximately 150,000 Premium and Private
customers and was expanded nationwide. BT now has Relationship Managers
dedicated to Premium customers in most urban centers and a dedicated team of
Virtual Relationship Managers nationwide. The Premium Banking offering was
enhanced in 2025 with the launch of an exclusive product dedicated to Premium
customers - the Premium Club Subscription.
• Starting in August 2025, Banca Transilvania customers can enroll directly, via the BT
Pay app, in the voluntary pension funds (Pillar III) managed by BT Pensii. Since the
launch of this feature, over 8,600 customers have chosen to save for the long term
in one of the two voluntary pension funds, Pensia Mea and Pensia Mea Plus.
31
Sustainability Statement 2024, Banca Transilvania Financial Group
BT Mic
BT Microfinanțare IFN S.A. (BT Mic) is the BT Group’s microfinance entity, established in
2016 with the aim of supporting access to financing for entrepreneurs in Romania. Its
business model is built around supporting entrepreneurial initiatives, with BT Mic targeting
small businesses and individual entrepreneurs, considered essential drivers of economic
development, innovation, and the strengthening of local communities.
The product offering is tailored to the specific needs of small businesses and covers
requirements such as working capital financing, investments, or other operational needs.
The loan approval process is supported by a digital approach, including the use of the “Raul”
chatbot, which helps simplify customer interactions and increases the accessibility and
efficiency of the financing process.
By integrating flexible financial solutions with digital tools and maintaining a constant focus
on entrepreneurs’ needs, BT Mic contributes to the implementation of Banca Transilvania
Group’s strategy to expand financial inclusion, stimulate the real economy, and support
sustainable economic growth at the local and national levels.
Active Customers BT MIC
2025
2024
Variance 2025 vs. 2024
Micro business
26,573
22,160
+19.91%
Salt Bank
Salt Bank is the first “neobank” developed entirely in Romania, a fully digital financial
institution that aims to redefine the interaction between customers and banking services.
Launched in March 2024, the bank primarily targets individuals with above-average
incomes and stable financial situations often referred to as the “mass affluent” segment,
(i.e. people who can save and invest consistently) as well as young professionals in urban
areas. All products and services are offered exclusively through a modern and efficient
mobile app.
With a mission to represent “a leap in banking and a leap in technology, for those who don’t
want to be stuck in their bank,” Salt Bank aims to offer relevant financial solutions built
around an intuitive platform, competitive products, and a high level of security for customer
data and funds. All services are developed based on three strategic pillars: ease of use,
product quality, and operational security.
Salt Bank places special emphasis on the user experience, offering a clear, easy-to-
navigate digital interface alongside cards with a distinctive design. Customer support is
managed through a dedicated center - the Care Center - where interactions are
characterized by professionalism, promptness, and a communication style aligned with the
32
Sustainability Statement 2024, Banca Transilvania Financial Group
brand’s values. All communication channels, from the app to customer service, are aligned
to maintain a consistent, modern, and user-friendly identity.
The year 2025 had three strategic objectives: attracting customers, continuing to deliver
new features and expanding the product range with financing solutions, as well as initiating
cost control. These were supplemented by a series of quantitative and qualitative
objectives.
The product portfolio has experienced rapid growth since the bank’s launch in March 2024
to the present. This expansion of offerings has directly contributed to an increase in the
number of customers and a surge in transactional activity through the SALT mobile app.
Compared to the features already launched the previous year, in 2025 the SALT app added
new ones such as:
• paying utility bills directly within the app (PayBill)
• subscription manager - a service that provides customers with information about
the merchants where they save their cards/subscriptions
• roadside assistance
• call monitor – an anti-fraud tool that notifies the customer of a call from the bank
• consumer loans for individuals
• Help Mama – a protection tool for senior customers
• sale of auto liability insurance
• deposits in EUR and USD for individuals
• card top-up via Google Pay and Apple Pay
• integration with Ropay (payments based on the recipient’s phone number)
• investments in mutual funds, foreign stocks, and exchange-traded funds (ETFs)
• instant receipts and payments in euros.
In addition to the above, while the product offering was previously aimed solely at
individuals until 2024, starting in 2025, Salt Bank has diversified its products to include the
“freelancer” segment, offering a checking account, business card, payment features,
integration with electronic billing services, and savings accounts.
Investments in mutual funds, stocks, and ETFs have become a central element in the bank’s
service ecosystem. These provide customers with access to a diverse range of financial
instruments traded on international exchanges, updated in real time within the app, thereby
strengthening Salt Bank’s position as a provider of high-value-added digital services.
In terms of customer numbers, Salt Bank nearly doubled its customer base in 2025,
reaching 747,505, up from 393,296 at the end of 2024, placing Salt Bank among the top 10
credit institutions in Romania by number of customers. The volume of deposits and
checking accounts held by the bank’s customers reached 1.78 billion RON, representing an
87% increase compared to 2024. The net loan portfolio reached 377 million RON, with the
33
Sustainability Statement 2024, Banca Transilvania Financial Group
bank’s portfolio currently featuring personal loan products, which have seen rapid growth
since their launch in April 2025.
At the same time, Salt Bank’s total assets saw significant growth, reaching 2,229,682,143
RON in 2025, compared to 1,262,312,985 RON in 2024, representing a positive increase of
+76.63%. This growth is more significant given that the Salt Bank brand (formerly Idea
Bank) was launched in April 2024.
Security is integrated into the bank’s technological architecture through robust measures
such as the “one-device-one-customer” model, additional passwords for high-value
transactions, the exclusion of sensitive information from physical cards, the blocking of
screenshots within the app, and additional features such as “Transaction Map” and the
display of the actual merchant name for transactions. Salt Bank has set a goal to introduce
new features annually that enhance security or address the needs of vulnerable customer
groups.
Salt Bank is a strategic project that demonstrates the innovation capacity of the Romanian
banking sector. Through proprietary technology, customer-centric solutions, and a rigorous
approach to governance and security, the bank is consolidating its position as an emerging
digital player, ready to meet the needs of a new generation of banking users and actively
contribute to the modernization of the financial market.
Active customers
2025
2024
2025 vs. 2024
Individual Customers
744,051
393,261
+89.20%
Micro Business Customers
3,425
24
+1,417.08%
SME Customers
27
7
+285.71%
Medium-sized Corporate
Customers
1
2
-50.00%
Large Corporate Customers
1
2
-50.00%
Total
747,505
393,296
+90.06%
The Salt Bank brand (formerly Idea Bank) was launched in April 2024.
Salt Bank
2025
2024
2025 vs. 2024 (April)
No. of Cards
744,268
389,581
+91.06%
No. of unique users on digital
channels
746,030
392,264
+90.12%
34
Sustainability Statement 2024, Banca Transilvania Financial Group
BT Leasing
BT Leasing Transilvania IFN S.A. (BT Leasing), part of the BT Group, offers financial leasing
solutions for vehicles, equipment, and other assets intended for business development and
modernization. The company serves both legal entities and individuals through integrated
financing, insurance, and logistics services. In 2025, BT Leasing is strengthening its role in
financing the real economy and continuing its digitalization process through the “My BT
Leasing” platform, facilitating customer access to documents and day-to-day operations.
In the same context of consolidating its position in the financing market, the value of BT
Leasing’s assets increased in 2025 to 6,787,396,074 RON compared to 6,170,333,776 RON
in 2024, marking a +9.99% increase, a development that underscores the company’s
increasingly important role in financing the real economy.
Active BT Leasing
Customers
2025
2024
2025 vs. 2024
Individual customers
532
555
-4.14%
Micro businesses
35,366
31,629
+11.81%
SMEs
8,631
7,792
+10.76%
Medium-sized corporate
clients
2,149
1,950
+10.20%
Large corporate clients
122
109
+11.92%
Total
46,800
42,035
+11.34%
BT Asset Management
BT Asset Management S.A.I. (BTAM) is a company specializing in investment management
and a member of the BT Group. Management services are provided for open-end
investment funds and alternative investment funds, with investments across a wide range
of financial instruments (stocks, bonds, government securities, deposits, etc.). Access to
the capital market is offered to clients through investments in Romania, Europe, and the
U.S., in RON, EUR, and USD.
Active BTAM Customers
2025
2024
2025 vs. 2024
Individual clients
418,651
251,577
+66.41%
Corporate customers
1,789
1,459
+22.61%
Total
420,440
253,036
+65.45%
35
Sustainability Statement 2024, Banca Transilvania Financial Group
Through BT Pay, BTAM offers a fully digital channel for the distribution of investment funds,
covering the entire operational workflow, from onboarding and electronic document signing
to online trading of fund units and real-time portfolio management. This digitization has
significantly expanded customer access to BTAM products, directly contributing to
increased usage of digital channels.
In 2025, the number of unique users of BTAM’s digital channels reached 170,404, compared
to 45,656 in 2024, representing a +273.2% increase compared to the previous year. This
trend confirms the accelerated adoption of digital investments through BT Pay and its
essential role in democratizing access to investment funds within the BT Group.
The value of assets under management (AUM) by BTAM saw significant growth in 2025,
increasing organically from 6.08 billion RON in 2024 to 9.03 billion RON in 2025,
representing an increase of 48.53% (approximately +2.95 billion RON).
At the management company level, proprietary assets under management rose from 191.16
million RON in 2024 to 312.58 million RON in 2025, corresponding to a 63.52% increase
(+121.42 million RON).
The table below lists the investment funds managed by BTAM, all of which are authorized
and supervised by the Financial Supervisory Authority (ASF):
2025
2024
Fund Name
Individual
Clients
Corporate
Clients
PJ
Value of assets
under
management
(RON)
Fund name
Individual
Clients
Clients
PJ
Value of assets
under
management
(RON)
BT AGRO
1,002
18
15,438,113.46
BT AGRO
927
21
14,645,993.52
BT CLASIC
53,352
176
457,714,390.66
BT CLASIC
30,166
128
271,464,739.32
BT DOLAR FIX
1,829
35
295,328,838.92
BT DOLAR FIX
1,265
22
208,923,129.36
BT ENERGY
2,884
39
76,222,001.11
BT ENERGY
2,980
42
79,301,357.49
BT EURO
CLASSIC
4,446
57
233,967,372.86
BT EURO
CLASSIC
2,941
40
151,294,178.68
BT EURO FIX
17,599
99
1,802,660,720.96
BT EURO FIX
13,539
71
1,168,497,933.79
BT EURO
OBLIGATIUNI
6,480
45
485,263,375.22
BT EURO
OBLIGATIUNI
6,008
36
386,234,114.44
BT FIX
179,787
393
1,475,135,115.74
BT FIX
109,565
335
1,117,556,622.11
BT INDEX
AUSTRIA ATX
5,364
63
240,331,795.69
BT INDEX
AUSTRIA ATX
1,981
31
79,690,689.30
BT INDEX
ROMANIA ROTX
64,334
246
1,186,368,744.25
BT INDEX
ROMANIA ROTX
26,459
187
485,362,280.65
BT INVEST 1
0
3
683,687,972.21
BT INVEST 1
0
3
477,241,215.48
BT INVEST
14
4
18,074,659.77
BT INVEST
15
4
17,038,849.85
36
Sustainability Statement 2024, Banca Transilvania Financial Group
BT MAXIM
26,902
167
739,232,139.57
BT MAXIM
12,862
109
386,203,570.59
BT OBLIGATIUNI
44,343
359
1,032,032,677.77
BT OBLIGATIUNI
37,848
365
884,955,390.70
BT REAL ESTATE
826
18
13,179,035.76
BT REAL ESTATE
829
16
14,218,746.88
BT
TECHNOLOGY
9,489
67
274,069,977.47
BT TECHNOLOGY
4,192
46
131,913,609.12
BTFIAIP
PROPERTY*
0
3
204,576,080.60
Total
418,651
1,789
9,028,706,931.42
Total
251,577
1,459
6,079,118,501.88
*As of October 2025, the BTFIAIP Property fund is no longer part of the portfolio managed by BT Asset Management; its
management has been taken over by INNO Investments. Therefore, data for 2025 is presented only for the period during
which the fund was in the BTAM portfolio, which may affect direct comparability with the information for 2024.
BT Pensii
BT Pensii – Societatea de Administrare a Fondurilor de Pensii Facultative S.A. (BT Pensii) is
the administrator of the voluntary pension funds (Pillar III) within the BT Group. The
company manages two funds – Pensia Mea and Pensia Mea Plus, the latter having been
added to the portfolio in 2025 following the ASF’s final authorization to take over the
management of the BRD Medio fund.
BT Pensii business experienced rapid growth in 2025. The number of participants rose to
213,801, up from 95,839 in 2024, representing a 123% increase. This growth was also
reflected in the value of assets under management, which rose to 791.35 million RON,
compared to 290.47 million RON in the previous year, representing a 172% increase. The
expansion and digitization of operations contributed significantly to these results: the
number of unique users of digital channels rose to 151,200 in 2025, compared to 28,457 in
2024, driven by the integration of funds into the BT Pay app.
BT Pensii remains the only voluntary pension administrator with a majority Romanian
ownership stake, positioning itself among the market leaders with a consolidated base of
over 213,000 participants.
BT Pensii
2025
2024
2025 vs. 2024
No. of participants
213,801
95,839
+123.08%
Value of assets
under management
(RON)
791,350,710.48
290,469,079.41
+172.43%
No. of unique users
on digital channels
151,200
28,457
+431.32%
37
Sustainability Statement 2024, Banca Transilvania Financial Group
BRD Pensii
BRD Societate de Administrare a Fondurilor de Pensii Private S.A. (BRD Pensii) is the
administrator of the mandatory private pension fund (Pillar II) within the BT Group. The
company was acquired at the end of November 2025 by Banca Transilvania and BT
Investments, marking the BT Group’s entry into the mandatory private pension market (Pillar
II). The fund managed by BRD Pensii manages total assets of 9.29 billion RON on behalf of
614,444 participants, of whom 29,924 are unique users of digital channels.
BRD Pensii
2025
No. of participants
614,444
Value of assets under management (RON)
9,293,708,468.29
Number of unique users on digital channels
29,924
Together, these developments reinforce the BT Group’s role as a key player in the private
pension fund management market, through a business model focused on sustainable
growth, digitalization, and responsible management of participants’ assets.
BT Capital Partners
BT Capital Partners, the investment banking and capital markets division of the BT Group,
offers brokerage services, advisory services for listings, mergers and acquisitions,
corporate finance, and strategic research, operating through a network of 10 regional
offices nationwide. Digitalization continues to be a strategic pillar for the development of
BT Capital Partners.
Digital platforms, particularly BT Trade, have significantly contributed to increasing the
accessibility and efficiency of investment services. The number of unique users of digital
channels increased by +53.25% in 2025 (43,792 unique users in 2025 compared to 28,575
unique users in 2024).
As of December 31, 2025, the value of assets recorded a significant increase, reaching
1,244,677,670.89 RON, compared to 879,788,581.39 RON in 2024, which corresponds to an
annual change of +41.48%. This trend reflects both the favorable market dynamics and
investor confidence in the services offered by BT Capital Partners.
Active BTCP Customers
2025
2024
2025 vs. 2024
Individual customers
48,511
34,667
+39.93%
Corporate customers
561
527
+6.45%
Total
49,072
35,194
+39.43%
38
Sustainability Statement 2024, Banca Transilvania Financial Group
INNO Investments
INNO Investments S.A.I. S.A., part of the Banca Transilvania Group, is an investment
management company with a modern approach focused on responsibility, innovation, and
sustainable performance. The company’s current form is the result of the BT Group’s
acquisition of OTP Asset Management Romania in October 2024 and the rebranding
completed in June 2025, which consolidated INNO’s positioning as a manager of UCITS
funds and alternative investment funds (AIFs).
INNO Investments’ strategy aims to develop the local alternative investment fund market,
with a focus on private equity, venture capital, and thematic or sector specific funds areas
that support the development of the local entrepreneurial ecosystem and the financing of
companies throughout their growth cycle.
In 2025, the company’s client base underwent a reconfiguration compared to the previous
year, in the context of strategic transition and post-rebranding repositioning. The number
of individual customers reached 4,435, compared to 8,127 in 2024, reflecting primarily the
recalibration of the portfolio and the gradual shift toward alternative funds and investors
with a more specialized profile.
A similar trend is observed among corporate clients, whose number stood at 74 in 2025,
compared to 127 in the previous year. This trend is linked to the realignment of the product
offering and the more selective nature of investment strategies associated with alternative
funds.
Overall, these developments indicate a controlled and intentional transition of INNO
Investments’ business model, with the company focusing on consolidating the alternative
funds segment and developing an investor base aligned with medium- and long-term
strategic objectives, in synergy with Banca Transilvania Group’s strategic directions.
Active INNO Investments
Clients
2025
2024
2025 vs. 2024
Individual customers
4,435
8,127
-45.4%
Corporate customers
74
127
-41.7%
Total
4,509
8,254
+45.4%
39
Sustainability Statement 2024, Banca Transilvania Financial Group
BT Direct
BT Direct IFN S.A. is a non-bank financial institution and a member of the BT Group that
offers a wide range of financial products, including in-store credit, online credit, and
personal loans, with the goal of becoming Romanians’ preferred choice for banking
products through quality, modern services and convenient financing solutions offered to
customers, by developing sustainable partnerships with major retailers in Romania.
Active BT Direct customers*
2025
2024
2025 vs.2024
Individual customers
230,321
227,057
+1.43%
No. of active cards
145,722
142,305
+2.40%
No. of unique users on digital
channels
6,884
9,648
-28.64%
No. of partners
1,455
1,153
+26.19%
* Active customers with transactions in the last 6 months as of December 31, 2025
In 2025, the number of active cards reached 145,722, compared to 142,305 in 2024,
representing an increase of 3,417 cards, or +2.4%. The use of digital channels shows mixed
results: the number of customers who accessed online services was 6,884 in 2025,
compared to 9,648 in 2024, while the number of cards enrolled in BT Pay rose to 58,487 in
2025, surpassing the previous year’s level of 54,357, marking an increase of 4,130 cards,
equivalent to +7.6%. This indicates a real increase in adoption of the app, even though the
gross volumes of online traffic were lower.
In 2025, there were 10 active strategic partners, compared to 7 in 2024. The number of
locations associated with these partners increased to 352, compared to 337 in the previous
year, marking an increase of 15 locations, or a 4.5% rise. This expansion was driven both
by the entry of new partners into the ecosystem and by the strengthening of existing
partnerships.
The total number of locations in the local retailers, medical, and automotive categories saw
significant growth, reaching 1,988 locations in 2025, compared to 1,582 in 2024, an increase
of 406 locations from the previous year, equivalent to +25.7%. The most dynamic segment
was the medical sector, where the number of locations increased from 169 to 434, or +265
locations (+156.8%). The automotive segment grew from 345 to 489, representing an
increase of 144 locations (+41.7%). The local retailers category remained stable, with 1,065
locations compared to 1,068 in 2024.
Including strategic partners and local merchants, the total number of locations rose to
2,340 in 2025, up from 1,919 in 2024, an increase of 421 locations, representing a 21.9%
growth. This expansion confirms the consolidation and diversification of the acceptance
network, as well as increased penetration nationwide.
40
Sustainability Statement 2024, Banca Transilvania Financial Group
Victoriabank
Victoriabank was the first commercial bank established in the Republic of Moldova on
December 26, 1990, and remains one of the key financial institutions in the Moldovan
banking system in 2025. The bank continues to grow within the BT Group, of which it has
been a part since 2018, strengthening its role in the economy by expanding its product
portfolio, modernizing its infrastructure, and aligning with international banking standards.
With over 1,200 employees, more than 360,000 active customers, and 67 branches in 23
localities across the Republic of Moldova, Victoriabank provides financing to approximately
40,000 individuals and companies. Thus, Victoriabank remains a trusted financial
institution, dedicated to meeting the needs of its customers and supporting the economic
development of the Republic of Moldova.
The institution’s financial performance confirms this growth. In 2025, Victoriabank’s total
assets reached 31,477,916,055 Moldovan RON, compared to 24,618,951,588 RON in 2024,
marking a 27.84% increase. The growth in assets underscores the bank’s sustainable
development and the continued preference of customers and partners for Victoriabank’s
services.
Through its extensive experience and commitment to innovation, Victoriabank continues to
pave the way to success and bring prosperity to people’s lives and businesses.
Active customers
2025
2024
2025 vs.2024
Individual Customers
349,451
320,610
+8.99%
SME* Customers
14,258
12,808
+11.32%
Medium-sized corporate customers*
416
381
+9.18%
Total
364,125
333,799
+9.08%
*The adjustment to the number of SME and mid-market corporate customers for 2024 results exclusively from the application
of the new segmentation methodology implemented in 2025. In the previously published report, the figures for 2024 were
presented according to the segmentation valid at that time (2024), namely 12,841 SME customers and 348 medium-sized
corporate customers.
Victoriabank
2025
2024
2025 vs. 2024
No. of units
67
63
+6.34%
No. of ATMs
269
252
+6.74%
No. of POS terminals
10,574
9,064
+16.65%
Cards
635,089
527,501
+20.39%
Merchants in the network
6,061
5,082
+19.26%
No. of unique users on digital channels
363,354
323,227
+12.41%
41
Sustainability Statement 2024, Banca Transilvania Financial Group
Microinvest
The business model of OCN Microinvest SRL (Microinvest) focuses on providing non-bank
loans to individuals, microenterprises, and small and medium-sized enterprises, with the
aim of facilitating access to financing and supporting economic development in the
Republic of Moldova. The company offers responsible financial solutions that contribute to
improving living standards and strengthening the local entrepreneurial environment.
The year 2025 marked an important milestone in Microinvest’s evolution, as the company
joined the BT Group through its acquisition by Victoriabank. This transaction strengthened
the BT Group’s presence in the Moldovan market and expanded its capacity and expertise
to support the local entrepreneurial environment through financing solutions tailored to
customer needs.
As of December 31, 2025, Microinvest had a total of 49,623 active clients in its portfolio,
covering the segments of individuals, medium-sized companies, microenterprises, and
small and medium-sized enterprises.
As of the same date, total assets stood at 7,921,409,995 MDL, reflecting the size of the
financing portfolio and the scale of operations. The company’s territorial network
comprised 17 branches nationwide.
At the same time, Microinvest made extensive use of digital channels, with 58,444 unique
users at the end of 2025. The network of merchant partners consisted of five main partners,
who facilitated customers’ access to loan payments through alternative channels.
Active customers
2025
Individual Customers
46,420
Micro businesses
2,880
SME customers
292
Medium-sized corporate clients
31
Large corporate clients
0
Total
49,623
42
Sustainability Statement 2024, Banca Transilvania Financial Group
BT Leasing Moldova
BT Leasing Moldova (BT Leasing MD), a member of the BT Group, is consolidating its
leading position in the financial leasing market in the Republic of Moldova, ranking first in
terms of leasing portfolio size for the ninth consecutive year, according to official statistics.
The company provides financial leasing services to both individuals and the SME and large
corporate segments, actively contributing to the development of the entrepreneurial
environment and the growth of the local economy’s competitiveness by facilitating access
to financing for assets intended for business expansion and modernization.
The portfolio includes flexible financing solutions for vehicles, equipment, and machinery,
with leasing products tailored to clients’ profiles and requirements, offering competitive
terms in both the national currency and foreign currency.
BT Leasing MD promotes responsible financing and supports projects related to
sustainable mobility, energy efficiency, and the use of technologies with low environmental
impact. At the same time, it facilitates the business community’s access to dedicated
financing sources for projects with improved environmental performance, contributing to
the modernization of assets, the reduction of operational costs, and the increased
competitiveness of the local economy.
Through operational agility, team expertise, and a constant customer focus, BT Leasing MD
operates based on principles of transparency, accountability, and commitment to
generating a positive and sustainable impact for all stakeholders.
Unique active customers
BT Leasing MD
2025
2024
2025 vs. 2024
Individual Customers
677
740
-8.51%
SME Customers
270
262
+3.05%
Micro businesses
492
439
+12.07%
Medium-sized corporate
clients
40
51
-21.57%
Total
1,479
1,492
-0.87%
As of December 31, 2025, BT Leasing Moldova had 1,381 active lease contracts with legal
entities, representing an increase of approximately 9.35% compared to December 31, 2024,
a trend that reflects the positive development of the business and the consolidation of the
corporate client portfolio.
43
Sustainability Statement 2024, Banca Transilvania Financial Group
BT Broker
BT Insurance Broker (BT Broker) operates as part of the BT Group, with the role of providing
and managing insurance policies associated with the leasing contracts financed by BT
Leasing. In 2025, the company continued to manage the portfolio of policies for financed
assets throughout the entire term of the leasing contracts, contributing to the continuity
and quality of services offered to clients.
In line with the BT Group’s strategy, BT Broker continues its transition toward a more
diversified operational model, focused on digitalization and integrated services, aligning
with market developments and customer needs.
Financially, the value of BT Broker de Asigurare’s assets stood at 78,186,200 RON in 2025,
compared to 95,314,987 RON in the previous year, indicating a decrease of –17.97%. This
trend reflects natural changes in the portfolio structure, in line with operational dynamics
and the specific nature of the insurance brokerage business.
Active BT Broker Customers
2025
2024
2025 vs. 2024
Individual customers
846
785
+7.77%
Micro businesses
34,527
29,368
+17.56%
SMEs
8,844
8,518
+ 3.82%
Medium-sized corporate clients
766
733
+ 4.5%
Large corporate customers
2,090
2,097
-0.33%
Improvement Credit Collection
Improvement Credit Collection S.R.L. (ICC), an entity founded in 2013 and part of the BT
Group, carries out specialized activities in the management of non-performing portfolios,
debt collection through extrajudicial and judicial procedures, as well as due diligence
services for non-performing portfolios held for sale. Its activity is based on a
multidisciplinary approach, focused on the efficient and compliant recovery of receivables,
for the benefit of financial institutions and commercial companies.
In its market, ICC ranks among the Top 10 companies in Romania in this sector (CAEN code
8291 - Activities of collection agencies and credit reporting bureaus) according to official
reports from the Ministry of Finance for the year 2024.
ICC
2025
2024
Growth 2025 vs. 2024
Corporate Clients
10
12*
-16.66%
Asset Value (RON)
39,734,011
36,065,328
+10.17%
*As of December 31, 2024, 11 out of 12 were active, as OTP Leasing had migrated prior to the end of the year.
44
Sustainability Statement 2024, Banca Transilvania Financial Group
Awards, Recognitions, and Affiliations
The BT Group enjoys strong recognition in the financial and banking industry, both
nationally and internationally. In 2025, the BT Group received numerous awards and
distinctions for its performance, service innovation, and contribution to the sustainable
development of the economy.
Ratings from credit agencies, as well as membership in prestigious organizations, reinforce
its position as a trusted leader and strategic partner in support of the business community
and local communities.
Rating-uri
In November 2025, Moody’s Ratings upgraded both Banca Transilvania’s long-term deposit
rating and its short- and long-term issuer ratings.
The agency upgraded the bank’s long-term deposit rating to Baa1 from Baa2, the highest
rating, in line with the country’s rating. Moody’s changed the outlook to negative, similar to
Romania’s.
At the same time, BT’s issuer ratings were upgraded to Baa2 from Baa3, with a stable
outlook. This stable outlook on the issuer ratings reflects the rating agency’s expectation
that Banca Transilvania, due to its financial performance, capital, and profitability, will
remain resilient despite macroeconomic challenges.
Moody’s confirmation of the baseline rating (Ba1) and other ratings reflects the bank’s
strong capitalization, ample liquidity, and robust profitability, supported by its leading
position in Romania and effective cost optimization.
In December 2025, Fitch Ratings affirmed Banca Transilvania’s long-term issuer rating at
“BBB-” and the bank’s viability rating at “bbb-”.
At the same time, Fitch Ratings maintains a negative outlook on the confirmed ratings, in
line with the country’s rating.
The agency justifies its decision to affirm the ratings with Banca Transilvania’s strong and
well-established position in the domestic market, solid capital reserves supported by a
robust internal capital generation capacity, and a stable funding profile. The ratings also
highlight the good asset quality, supported by a sound lending policy.
45
Sustainability Statement 2024, Banca Transilvania Financial Group
Credit ratings assigned to Banca Transilvania S.A.:
Moody’s
Fitch Rating
Date
November 2025
Date
December
2025
Outlook for the
bank's long-term
ratings
Negative
Outlook on the bank's
long-term ratings
Negative
Long-term and
short-term
counterparty risk
ratings (CRR)
Baa1/P-2
Long-term IDR
BBB-
Long-term and
short-term
deposit ratings
Baa1/P-2
Short-term IDR
F3
Core credit
assessments
ba1
Sustainability rating
bbb-
Adjusted baseline
credit
assessments
Ba1
Long-term foreign
currency IDR
(sovereign risk)
BBB-
Counterparty Risk
(CR) Ratings
Baa2(cr)/P-2 (cr)
Long-term IDR in local
currency (sovereign
risk)
BBB-
Long-term and
short-term issuer
ratings
Baa2/P-2
Country ceiling
(sovereign risk)
BBB+
ESG credit impact
score
CIS-2
Issuer ESG Profile
Scores
E-3/S-3/G-2
46
Sustainability Statement 2024, Banca Transilvania Financial Group
In addition to its credit ratings, Banca Transilvania S.A. has obtained the following ESG
ratings:
Rating Agency
Score
Date
Sustainalytics
14.9 / low ESG risk
November 2024
Refinitiv
79/100 (A-)
January 2025
FTSE Russell
3.3/5
December 2024
CDP
C
December 2025
Romania Corporate Sustainability and
Transparency Index
93/100, Gold Level
Recognition
December 2024
ARIR VEKTOR
10/10
January 2025
Sustainalytics
For the third consecutive year, Banca Transilvania received a Low ESG Risk rating from
Sustainalytics. BT achieved a score of 14.9, an improvement over the score obtained in
2023 (15.1). This score ranks BT 119th out of 1,040 banks analyzed globally and in the top
11% of both all companies analyzed by Sustainalytics and all evaluated banks.
Sustainalytics analyzed the following areas: corporate governance, integration of ESG
factors into the business model, quality and sustainability of products and services offered
to customers, data privacy and security, business ethics, and human capital development.
Refinitiv
Banca Transilvania achieved a very good rating score of 79/100 (A-) in 2024 from Refinitiv,
a company within the London Stock Exchange Group. This score ranks Banca Transilvania
71st out of 1,1145 banks evaluated by Refinitiv worldwide. Refinitiv’s assessment is based
on the three ESG pillars (Environmental, Social, and Governance), with a focus on specific
sub-pillars such as: Emissions, Resource Use, Innovation, Human Rights, Product
Responsibility, Workforce, Community Management, Shareholders, and CSR Strategy.
Banca Transilvania ranked first in most of these categories and subcategories, based on
the scores obtained. BT achieved strong scores, exceeding 75 points, in the Corporate
Governance (92/100 points) and Environment (78/100 points) categories. A cumulative total
rating between 75 and 100 indicates excellent ESG performance and a high degree of
transparency in the public reporting of material ESG information.
47
Sustainability Statement 2024, Banca Transilvania Financial Group
FTSE Russell
Banca Transilvania received an ESG rating of 3.3 following the FTSE Russell assessment.
The ESG index is the result of an assessment based on three pillars: environmental, social,
and governance, using over 300 indicators that analyze the bank’s exposure and how BT
manages the ESG area. The FTSE Russell Group is one of the world’s best-known
organizations providing indices for global financial markets. It is a company of the London
Stock Exchange Group (LSEG) and provides data analytics, ratings, and indices for analysts
and investors.
Awards and recognition
Awards and Recognition
Provided by
Details
Best Annual Report 2024
Romanian Investor
Relations Association
(ARIR)
Banca Transilvania received
recognition on multiple levels for
its investor relations efforts, as
well as from investors themselves,
at the ARIR Gala
Best ESG Performance & Communication
Best IR Event: Investor Day 2024
Best IR Professional
Best IR Representative
Best IR Website
Best CEO Award: Omer Tetik
Best CFO Award: George Călinescu
Best Investor Program Award
Maximum VEKTOR rating
Maximum VEKTOR rating for BT’s
2024 communication with
investors and shareholders
Banca Transilvania: The most traded stock
on the BVB’s regulated market; The issuer
with the highest increase in liquidity; The
issuer with the best media relations.
Financial Press Award.
Bucharest Stock
Exchange (BVB)
BVB Awards: Banca Transilvania,
BT Asset Management, and BT
Capital Partners, the year’s top
performers on the capital market
BT Asset Management: Best-performing
local investment fund: BT Technology
BT Capital Partners: Most Active Broker in
the Bond Segment
Banca Transilvania – Women’s Network
The Azores Sustainability
& CSR Services & Allies
for Sustainability
Networks & Employee Groups:
Culture change from the inside
48
Sustainability Statement 2024, Banca Transilvania Financial Group
The biggest supporter of your business
(After your Mom) – BT Mic & Sector 7 HUB
Art Directors Club
Romania (ADC*RO)
The most creative campaigns of
February, as awarded in the TOP
ADC*RO February 2025.
TALK vs. ACTION (Less talk, more business)
– BT Stup & Sector7 HUB
Creative campaigns, worthy of
awards in the TOP ADC*RO March
2025
COMMUNITY INDEX 2025: Mentoring,
Leadership, and Non-Formal Education
Category and Student Education Category -
GOLD RECOGNITION
Community Index
(Investing in People and
Planet)
What’s Next: Banca Transilvania &
Save the Children and the
Bucharest Municipal Center for
Educational Resources and
Assistance; Dar Scholarships
Project - Hope and Homes for
Children, Category: Mentoring,
Leadership & Non-Formal
Education
Company of the Year in Financial Leasing:
BT Leasing
FINMEDIA and Piața
Financiară magazine
Awards recognizing the
performance of leasing companies
for their activities in 2024, as well
as special awards marking the
30th anniversary of the first issue
of Piața Financiară magazine and
the 20th anniversary of the
FINLEASING supplement.
Asset Management Company of the Year
Romania 2025 - BT Asset Management
Global Banking & Finance
Awards
Fund & Asset Management Awards
and Investment, Brokerage, &
Forex Awards
BT Capital Partners - Best Mobile Trading
Platform Romania 2025; Best Research
House Romania 2025; Best Securities
Brokerage Romania 2025
As part of BT’s diversity, equity, and inclusion (DEI) strategy, at the RDCC (Romanian
Diversity Chamber of Commerce) Awards Gala in December 2025, BT was honored with
the “Women’s Network” award in the “Employee Networks and Groups: Cultural Change
from Within” category. The award reflects how this initiative goes beyond internal
engagement, strategically integrating support for women into the organization’s business
model. By linking the development of female leadership with dedicated funding and
education programs for women entrepreneurs, the "Women's Network" directly contributes
to expanding access to capital and growth opportunities. Thus, the cultural change
promoted within the bank generates a measurable economic impact in the community and
the broader entrepreneurial ecosystem.
49
Sustainability Statement 2024, Banca Transilvania Financial Group
Affiliations
Companies within the BT Group are active members of relevant organizations and
associations, both nationally and internationally, reflecting a shared commitment to best
practices, compliance, and strategic collaboration in the financial and banking sector.
Affiliations 2025
The company holds a position in the
leadership structure
Listing
2025
ACI Romania/Association of Financial Markets
Luminița Runcan, President
YES
Romanian Audit Office Association Transmedia
does not hold a management position
Member
YES
American Chamber of Commerce in Romania
(AMCHAM)
Luminița Runcan, Treasurer
NO
French Chamber of Commerce, Industry, and
Agriculture in Romania
does not hold a leadership position
Member
YES
Agro Food Ind Napoca Cluster Association
does not hold a leadership position
member
YES
Chamber of Commerce for Diversity
does not hold a management position
member
NO
Romanian Private Equity Association (ROPEA)
does not hold a management position
member
YES
Romanian Electronic Payments Association (APERO)
Marius Flore, member
YES
HR Management Club Association
Nevenca Doca, member
Adina Zbucea, member
Affiliation
Association for Investor Relations on the Romanian
Stock Exchange (ARIR)
Ioan Sumandea, Board of Directors
YES
Romanian Banking Association (ARB)
Luminița Runcan, Vice Chair of the
Board of Directors
YES
Romanian Factoring Association (AFR)
Ioana Neacșu Member of the ARF
Board of Directors
NO
British-Romanian Chamber of Commerce
does not hold a management position
Member
YES
Romanian Chamber of Commerce and Industry
does not hold a leadership position
member
YES
Romania Green Building Council (RoGBC)
does not hold a leadership position
member
YES
Factor Chain International
does not hold a management position
member through Victoriabank and BT
Affiliation
C-EDU Education Cluster Association
does not hold a leadership position
Member
YES
50
Sustainability Statement 2024, Banca Transilvania Financial Group
Affiliations 2025
The company holds a position in the
leadership structure
Listing
2025
ASPEN Romania Institute Association
Omer Tetik, Member
Affiliation
UNEP-FI: Principles for Responsible Banking
Does not hold a leadership position
Member
YES
The European Money Market Institute
does not hold a management position
member
Affiliation
Diversity Charter
does not hold a management position
member
Affiliation
Romanian Sustainable Coalition
does not hold a leadership position
member
NO
Romanian Brokers Association
does not hold a leadership position
member through BT Capital Partners
Affiliation
Association of Leasing and Consumer Credit in
Romania (ALCCR)
Liviu Șerban, Vice Chair of the
Executive Committee
YES
Association of Banks of Moldova
does not hold a management position
member via Victoriabank
YES
Oaklins
Daniela Secară, member
YES
European Business Association (EBA)
Aursulesei Mihai-Mircea, member of the
association's board
YES
Association of Business and Management
Consultants (ACAMS)
Does not hold a leadership position
member through Victoriabank
YES
Association for Private Pension Administration in
Romania (APAPR)
does not hold a management position
member through BT Pensii and BRD
Pensii
Affiliation
Association of Financial Companies in Romania (ALB)
does not hold a management position
Member through BT Leasing
Member via BT Direct
Membershi
p
Association of Fund Managers in Romania (AAF)
Dan Dascăl, Member of the AAF Board
of Directors
Affiliation
Romanian Microfinance Association
Alexandru Valentina, Member of the
Board of Directors
Affiliation
Association of Romanian Investors in Moldova (AIR)
holds a leadership position
Marius Crăciunaș, member of the
Coordinating Council
YES
European Microfinance Network (EMN)
does not hold a leadership position
Member of BT Mic
Affiliation
Commercial Debt Management Association (AMCC)
does not hold a leadership position
Affiliation
51
Sustainability Statement 2024, Banca Transilvania Financial Group
Affiliations 2025
The company holds a position in the
leadership structure
Listing
2025
Member of ICC
American Chamber of Commerce in Moldova
does not hold a leadership position
Member through Victoriabank
YES
Chartered Institute of Personnel and Development
(CIPD)
does not hold a leadership position
member via Victoriabank
YES
Information Systems Audit and Control Association
(ISACA)
does not hold a management position
member via Victoriabank
YES
Certified Information Systems Auditor (CISA)
does not hold a management position
Member via Victoriabank
YES
Association of Chartered Certified Accountants
(ACCA)
does not hold a management position
member via Victoriabank
YES
The National Association of Exporters and Importers
of Romania (ANEIR)
does not hold a leadership position
Member
YES
Association of Legal Advisors in the Banking and
Financial System
Mihai Rotaru, President
YES
National Institute of Internal Control in Romania
(INCIR)
does not hold a management position
member
YES
European League for Economic Cooperation, ELEC
Romania
does not hold a leadership position
member
YES
Hungarian Business Association in Romania
does not hold a leadership position
member
YES
52
Sustainability Statement 2024, Banca Transilvania Financial Group
General Strategy and Sustainability Goals
Banca Transilvania’s sustainability strategy reflects the alignment between global
sustainable development priorities and local economic realities in Romania. This approach
provides a clear framework for understanding how BT’s business model and activities
contribute to the transition toward a more sustainable and inclusive economy. Since its
inception, the Bank has focused on supporting the Romanian business sector and its
access to financing, with financial inclusion and SME development as central elements of
its strategy, embedding sustainability principles into its DNA before the concept was
formalized.
Long-term sustainable and inclusive growth requires a balance between environmental
responsibility, social progress, and economic stability. Thus, the sustainability strategy is
built on three main pillars, Performance, People, and Environment, setting clear, measurable
goals to support the achievement of these commitments.
• Performance – promoting equitable access to financial services, integrating
sustainability criteria into financing decisions, supporting clients’ climate transition,
and expanding green and sustainable financing;
• People – investing in employee development, well-being, and inclusion; supporting
customers in the decarbonization process; and contributing to the sustainable
development of local communities;
• Environment – reducing the environmental impact of BT’s operations through energy
efficiency, emission reduction, and responsible use of resources.
The strategic sustainable development objectives aim to integrate sustainability into the
business model through specific policies and measures, in line with Banca Transilvania’s
values. Additionally, a clear monitoring framework is established through key performance
indicators (KPIs) and alignment with international standards. It is essential to promote a
responsible organizational culture, supported by training, ethics, and diversity programs.
The Bank maintains an active dialogue with stakeholders (i.e. investors, customers, and
partners) to adapt the ESG strategy to their expectations, while ensuring transparency and
regulatory compliance.
The implementation of the strategy is overseen by the ESG Committee, which approves
and monitors the measures adopted, ensuring their reporting to management and the
proper archiving of documentation.
53
Sustainability Statement 2024, Banca Transilvania Financial Group
Our sustainability goals
Pillar: PERFORMANCE
Our product and service objectives are essential for integrating sustainability into our core
activities:
• 5 billion RON: The initial target for the issuance of green loans to companies,
validated according to the CAFI methodology, was set at 5 billion RON for the 2025–
2027 period, reflecting the target set for 2025. Subsequently, given the better-than-
expected developments recorded during the 2024–2025 period, the target was
revised and increased to 6.5 billion RON for the 2025–2028 period. Details regarding
the progress made are presented in Chapter 3.3 Sustainable Financing.
• Minimum 30%: The proportion of electric and hybrid vehicles in the leasing portfolio.
Deadline: Annually, starting in 2024. Details on progress made are presented in
Chapter 3.3. Sustainable Financing.
• Minimum 85%: The percentage of digital customers out of the total customer base,
to encourage the use of digital channels. Deadline: Annual. By 2025, over 98% of
Banca Transilvania’s customers will be digital, as a result of initiatives to provide
customers with the easiest possible experience, anywhere and anytime. As outlined
above, BT Group subsidiaries continue to accelerate the adoption of digital channels
among customers, with significant progress also in 2025.
• Minimum 20%: Green mortgage loans as a percentage of total annual mortgage loan
volume. Deadline: Annual. Green mortgages accounted for 19.5% of the mortgages
granted by Banca Transilvania in 2025, compared to 13.2% in 2024, meaning that
approximately 1 in 5 newly granted mortgages falls into the green category
(compared to approximately 1 in 8 in the previous year). Further details regarding
the progress made are presented in Chapter 3.3. Sustainable Financing.
The sustainability strategy is adopted and tailored by the BT Group’s subsidiaries, which,
as of December 31, 2025, are at various stages of developing a framework for monitoring,
measuring, and reporting on sustainability objectives. Depending on the maturity level of
these frameworks, their progress is presented in the Sustainability Statement in the
relevant sections, including Chapter 3.3. Sustainable Finance.
54
Sustainability Statement 2024, Banca Transilvania Financial Group
Pillar: PEOPLE
Regarding our employees, our objectives reflect our commitment to continuous
development and the integration of sustainability into our business model:
• Minimum 50%: Employee participation rate in eNPS. Deadline: Annual.
• Minimum 40 hours: Average number of training hours per BT GROUP employee.
• Reducing the gender pay gap within the company. Deadline: Annual.
These objectives were achieved in 2025, and details regarding the progress made in 2025
are presented in Chapter 3.1 BT Group Team.
Pillar: ENVIRONMENT
We aim to reduce the environmental impact of our operations by:
• Minimum 85%: The proportion of renewable energy in the total energy consumption
of BT GROUP companies. Deadline: Annual. Details regarding progress are
presented in Chapter 2.2 Climate Change.
• Reducing emissions generated by our own operations (Scope 1, Scope 2, and
relevant Scope 3 categories, excluding financed emissions), monitored by emissions
intensity (tCO₂/million RON). As of the reporting date, a quantitative target had not
been established; it will be defined at a later stage, in accordance with the
requirements of the ESRS MDR. Details regarding progress are presented in Chapter
2.2 Climate Change.
Assessment of Current Products, Services, and Markets
The Group’s products and services were assessed against sustainability objectives,
highlighting priorities such as:
• Sustainable financial products (green loans, green mortgages, leasing solutions for
clean transportation, etc.) that help reduce environmental impact.
• Target markets include both companies and individuals, with a focus on segments
with high potential for adopting sustainable solutions (e.g., high-emission economic
sectors or customers interested in low-emission mobility solutions or energy-
efficient housing).
Additional information regarding the Group’s approach to sustainable finance, the
types of products offered, and financing volumes is presented in Chapter 3.3
Sustainable Finance.
55
Sustainability Statement 2024, Banca Transilvania Financial Group
Strategic Elements and Key Challenges
Initiatives to support sustainability goals:
• Developing a climate transition plan to reduce direct, indirect, and financed
emissions, based on climate scenario analysis and decarbonization targets.
• Continuing education and awareness programs for customers and employees,
focused on green finance, energy efficiency, and climate risk management.
• Increasing collaboration with strategic partners (international financial institutions,
local authorities, business associations, NGOs) to promote sustainability.
Key Challenges
• Challenges arising from the geopolitical climate and their repercussions on the
macroeconomic context at the local and European levels.
• Adapting to a changing regulatory landscape requires flexibility and the updating of
internal processes.
• Integrating sustainability principles into the business model without compromising
economic efficiency.
• Balancing the diverse requirements of stakeholders (authorities, investors,
employees, communities) to align with sustainability goals.
Critical resources for our operations
• The bank’s financial performance and solid capitalization lay the groundwork for
future growth of the BT Group’s impact in the markets where it operates.
• Territorial network of branches and agencies: Direct connection with customers,
providing a deep understanding of their priorities, challenges, and preferences,
including sustainability-related issues.
• Technological infrastructure: Digitization of processes and services for operational
efficiency, reducing environmental impact, and expanding access to financing and
financial products.
• Human capital: Employees who are vital to our success, with a focus on professional
development and best practices in organizational culture.
• Relationships with suppliers and partners: Collaborators who share our values of
responsibility and legal compliance.
Value generated
• Customers: Financial products that meet their demand for projects and purchases
with low environmental impact (green mortgages for individuals, leasing for the
purchase of electric and hybrid vehicles, financing that supports projects with low
environmental impact, etc.
• Distribution channels: Digital solutions for access to financing.
56
Sustainability Statement 2024, Banca Transilvania Financial Group
• Investors: Transparency and solid performance, alignment with international
sustainability standards.
• Communities: Educational initiatives, care for the communities where we operate,
responsible financing, strategic partnerships.
Position in the value chain
• Upstream value chain: Management of resources and relationships with depositors
and providers of services and capital to support operational infrastructure and
mobilize capital toward a more sustainable economy.
• Downstream value chain: Strategic partner for retail (individual customers), non-
retail (micro-enterprises, SMEs, large corporations), and additional segments
(leasing, asset management, pension funds, brokerage, consulting).
Our central position in the value chain allows us to connect economic actors, facilitating
the transition to a sustainable economy and addressing current economic challenges.
DR SBM-2 – Interests and views of stakeholders
For the BT Group, stakeholders are individuals or groups of individuals whose interests are
affected or could be affected by the organization’s activities.
Stakeholder
category
Engagement method
Frequency of
engagement
How we
communicate
How consultation results are
taken into account for all
stakeholders
BT Group
Employee
BT Employee Experience
Index (BT EEI)
Various internal contests
Employee Net Promoter
Score (eNPS)
Permanent
Intranet
Sustainability Report
Developing and updating policies
that support work-life balance,
increasing training opportunities,
and improving the digital work
infrastructure.
Customers -
Individuals and
Legal Entities
Net Promoter Score
(NPS)
Întreb BT Platform
Meetings
Conferences
“Contact” section on the
BT website
Ongoing
As needed
Social media
channels
The BT Talks
podcast
BT Talks
BT Blog
Email
Newsletter
Sustainability Report
Introducing new features to
banking apps, streamlining lending
processes, and providing
educational tools for financial
management.
Educational events in the field of
sustainable finance.
57
Sustainability Statement 2024, Banca Transilvania Financial Group
Shareholder
Meetings
Conferences
Access to information
published on the BT
website
Quarterly and
upon request
Annual General
Meeting
Video conferences
available on the BT
website
Roadshows and
presentations
Periodic reports and
financial results
Newsletter
Management Report
Ad hoc news
Dedicated page on
the BT website
Sustainability report
Alignment with new sustainability
reporting standards, increased
transparency, and detailed
presentation of financial
performance information during
quarterly meetings (video
conferences).
Government
agency/Regulato
ry authority
Various consultations
Meetings
Occasionally
and upon
request
Financial reports
Sustainability report
Email
Integrating regulations into the
Bank’s sustainability policy and
supporting public initiatives
regarding the transition to a
greener and more inclusive
economy.
Financial
institution
Meetings
Various consultations
Occasional
Financial reports
Sustainability Report
Email
Participation in joint initiatives and
implementation of funding
schemes with European support.
Collaboration with international
institutions to attract funds for
projects supporting the transition
to a green economy.
Investor/Analyst
Various consultations
Meetings
Annual
Occasionally
Quarterly
Webcasts available
on the BT website
Roadshows and
presentations
Periodic reports and
financial results
Financial
Newsletter
Directors' Report
Sustainability report
Dedicated website
Publishing detailed reports on
financial and sustainability
performance, organizing and
participating in dedicated events
(e.g., Investors Days), and
expanding sustainability
commitments across the product
portfolio.
Supplier
Meetings
Occasionally
Sustainability report
Email
Increasing transparency in
business relationships, reducing
emissions in the supply chain, and
supporting suppliers in adopting
sustainable practices.
Business Partner
Meetings
Occasional
Sustainability Report
Email
Developing sustainable
partnerships and improving
transparency in commercial
relations.
58
Sustainability Statement 2024, Banca Transilvania Financial Group
Non-
governmental
organizations
Projects developed in
partnership
Occasionally
Sustainability Report
Email
Implementation of financial
education programs and funding of
projects that support local
development.
Relevant
associations
Meetings
Occasional
Sustainability report
Financial reports
Email
Supporting the adoption of
common sustainability standards
in the financial sector, promoting
financial education and inclusion.
Investor Relations
Annual tele/video conferences with investors are organized in accordance with the financial
calendar published on the Bucharest Stock Exchange website at the beginning of each
calendar year. The following table presents the dates of these conferences, as well as the
topic of each one:
Annual video conferences organized by BT
Date
Event
2024 Financial Results, Video Conference
04.03.2025
Online
Q1 2025 Financial Results, Conference Call
20.05.2025
Online
H1 2025 Financial Results, Conference Call
27.08.2025
Online
Q3 2025 Financial Results, Conference Call
11.11.2025
Online
During these conference calls, in addition to information regarding the BT Group’s financial
and business performance, ESG-related topics, updates, and key progress are presented.
The dialogue during these meetings facilitates access for shareholders, investors, analysts,
and international financial institutions to ask questions of the BT Group’s executive
management regarding various sustainability issues, the level of integration of ESG factors
into the Group’s operations, or the sustainable development strategy for the future.
Net Promoter Score – NPS
The Bank prioritizes customer satisfaction, measured by NPS and HI (human interaction).
In 2025, the NPS was 86.25, up by nearly 4 points from 2024, and the HI was 98.65, at a
level similar to that of 2024. The indicators were calculated based on responses from nearly
80,000 customers. The NPS calculated based on customers who conduct transactions in-
branch is at a historic high, and human interactions are rated positively by nearly 99% of
customers. Over 85% of customers who interact with branch staff report that they received
information on how to conduct transactions without visiting a branch and save time and
money. The feedback process converted 50% of detractors into promoters and 85% of
passives into promoters.
59
Sustainability Statement 2024, Banca Transilvania Financial Group
Integrating stakeholder interests into the strategy and business model
The BT Group’s strategy and business model progressively integrate sustainability
considerations into its main development directions, including the digitization of financial
services, supporting the transition to a low-carbon economy, and reducing environmental
impact. In this context, the Group aims to meet the expectations of its main stakeholder
groups by adapting its activities, products, and internal processes to economic, social, and
environmental developments.
Stakeholders’ interests and perspectives are taken into account in the Group’s strategic
processes, including the process of identifying and assessing sustainability impacts, risks,
and opportunities. These contributions are integrated into the Group-wide DMA and
support the definition of strategic directions and priorities for action in the area of
sustainability.
For customers, the Group aims to improve the accessibility and efficiency of financial
services through the digitization of processes and the development of innovative solutions
such as mobile apps and online banking services. At the same time, the product portfolio
is gradually being expanded to include financing instruments that support projects with a
positive environmental impact and the transition to more sustainable economic practices.
Employees are a key element in implementing the Group’s strategy. To this end, initiatives
are underway to support professional development and promote a fair and inclusive work
environment. Training programs cover relevant topics in sustainability and ESG, and
measures aimed at increasing employee engagement and reducing pay gaps are integrated
into the Group’s human resources policies.
Regarding environmental impact, the Group aims to reduce greenhouse gas emissions and
increase the use of renewable energy in its own operations. The Group is currently
developing a climate transition plan, in line with the commitments made as part of its
collaboration with the European Bank for Reconstruction and Development (EBRD). The
initiatives implemented to date reflect the Group’s strategic direction regarding managing
its environmental impact and supporting the transition to a more sustainable economy
Integrating these objectives into the business model helps strengthen dialogue with
investors, authorities, and other stakeholders, as well as increase transparency regarding
the economic, social, and environmental impacts of the BT Group’s activities.
At the same time, collecting and reporting sustainability information can pose challenges
for certain categories of customers, particularly in the context of expanding ESG reporting
requirements. To support the process of adapting to these requirements, the Bank has
launched dedicated information and education programs, including conferences and
thematic events for customers.
Stakeholder interests and perceptions are integrated into the Group’s governance
processes. Members of the Board of Directors and the Leaders’ Committee are regularly
60
Sustainability Statement 2024, Banca Transilvania Financial Group
informed about stakeholders’ key concerns regarding the organization’s sustainability
impacts. This information is collected through structured processes and communicated
through various mechanisms, including periodic reports, strategic meetings, the work of
the ESG Committee, and direct dialogue with stakeholders.
A detailed overview of the main stakeholder categories and the methods used to
consult them is included in the table in section DR SBM-2 – Interests and views of
stakeholders.
DR SBM-3 – Material impacts, risks and opportunities and their interaction with strategy
and business model
As part of the update to the 2025 double materiality analysis (DMA), the impacts identified
in the 2024 assessment, relating to our own operations and the supply chain, underwent a
structured reassessment. The process was conducted in collaboration with the ESG
Working Group and relevant representatives of entities within the BT Group and
incorporated both feedback collected through the internal eNPS survey administered to
employees and the conclusions of a benchmarking exercise conducted among similar
financial institutions in Romania. Following this process, the impacts were reconfirmed in
terms of numerical consistency, relevance to the Group’s activities, and the level of
materiality assigned to each.
For the downstream component, pertaining to the loan portfolio, the impact analysis was
conducted using the UNEP-FI methodology, applied to the relevant portfolio filtered
according to the 10%, 8%, and 5% thresholds at the sector, subsector, and sub-subsector
levels.
In 2025, there were no significant changes in the Group’s own operations that would require
a full repeat of the DMA. During the reporting period, the Group did not carry out any major
mergers or acquisitions that would lead to the introduction of new activities, entry into new
markets, or substantial changes to operations. The integration of OTP Bank Romania into
Banca Transilvania, which began in August 2024 and was completed on February 28, 2025,
through the merger of the two banks, was taken into account in the previously conducted
DMA and did not generate new elements requiring a complete reassessment in 2025.
Similarly, Microinvest’s entry into the BT Group in the microfinance services sector or the
completion of the acquisition of the Pillar II pension fund management company did not
generate new elements requiring a reassessment, given that the BT Group already
managed microfinance activities (BT Mic) and the administration of private pension funds
(BT Pensii). Furthermore, there were no significant relevant changes in the structure of the
company’s main suppliers or in the supply chain. At the same time, the BT Group was not
affected by global events with severe impacts on human rights (e.g., military conflicts) and
did not enter into new business s with the potential to generate such impacts. Furthermore,
61
Sustainability Statement 2024, Banca Transilvania Financial Group
there were no entries into entirely new markets, launches, or closures of significant
business lines.
New material impacts, risks, and opportunities identified during the reassessment
process
Following the update of the DMA, the Group revised the set of material topics included in
the sustainability report. Certain issues relevant to banking, such as financial crime and
cybersecurity, were presented in the previous year’s sustainability report under other topics
or thematic sections.
Based on the updated results of the DMA, developments in the regulatory and market
context, as well as a comparative analysis conducted in relation to the practices of other
financial institutions, the Group concluded that these topics are of significant relevance to
the business model and the risk profile specific to banking activities.
Consequently, in this sustainability statement, these aspects are addressed separately as
entity-specific topics, in accordance with the provisions of ESRS 1 regarding entity-specific
disclosures, to more clearly reflect the associated impacts, risks, and opportunities and
how they are managed at the Group level.
Thus, the analysis highlighted relevant potential vulnerabilities associated with
cybersecurity and the prevention of financial crime, with implications for both our own
operations and our client portfolio. Internal deficiencies or those of critical suppliers,
including providers of IT, cloud, or digital solutions, can lead to operational disruptions,
financial losses, penalties resulting from regulatory requirements, and damage to the trust
of customers and authorities. At the same time, the misuse of financial products and
services for illegal purposes, such as money laundering, fraud, or the financing of other
illicit activities, can have negative impacts on society and the real economy and may expose
the Group to significant reputational and operational risks.
⁙ ⁙ ⁙
No new forms of impact or opportunities have been identified.
The complete list of material impacts, risks, and opportunities for BT GROUP is described
below.
62
Sustainability Statement 2024, Banca Transilvania Financial Group
List of material impacts, risks, and opportunities
Topic/Subtopic/Su
b-subtopic
Description of material
impact
Impact
Type
Where the
impact
occurs
Time
Horizon
How it affects/could affect people or the
environment
Derived from the
strategy and
business model
E1: Climate change
adaptation
Financing climate change
adaptation projects
◆ Positive
 Potential
●
Downstream
Short
Medium
Long
Helps protect communities from the
immediate risks of extreme events,
supports job creation in sustainable
sectors, and improves quality of life by
developing resilient communities in the long
term.
Supports the conservation and restoration
of ecosystems, reduces the impact on
biodiversity and natural resources, and
contributes to environmental stabilization
through sustainable climate change
adaptation measures.
Yes, the company has
goals to increase the
share of green
financing
E1: Climate Change
Mitigation
Measures implemented to
reduce the carbon footprint
in BTFG’s own operations
and supply chain, such as
the use of renewable energy
and the modernization of
heating, ventilation, and air
conditioning (HVAC)
systems for energy
efficiency.
◆ Positive
❖ Current
■ Upstream
▶ Own
operations
Environmen
t
Contributes to reducing environmental
pressure by limiting greenhouse gas
emissions and supports efforts to mitigate
climate change. In the medium and long
term, positive effects may be reflected in
improved environmental quality, reduced
climate risks, and the protection of human
health and well-being.
Yes, the company has
targets to limit and
reduce Scope 1 and 2
GHG emissions and,
consequently, to
reduce energy
consumption from
conventional sources.
E1: Climate Change
Mitigation
Financing of the following
sub-sectors: mixed farming,
wholesale trade in
agricultural machinery,
equipment, and supplies, pig
farming, cultivation of
cereals (excluding rice),
legumes, and oilseeds,
purchase and sale of own
real estate, development of
construction projects, meat
processing and
preservation, sale of
passenger cars and light
motor vehicles, retail sale of
automotive fuels in
specialized stores, and
provision of products in the
form of mortgage/real estate
loans.
◇
Negative
❖ Current
●
Downstream
Medium
Long
While funding these activities supports
economic development and the
diversification of agricultural and industrial
sectors, it can have a negative impact on
local communities and consumers by
increasing air pollution and harming public
health. High greenhouse gas emissions
exacerbate climate change, increasing the
frequency of extreme events that affect
people’s safety and well-being.
The financed activities contribute to
increased greenhouse gas emissions
through the use of agricultural machinery,
transportation, production processes, and
building heating, accelerating global
warming. This leads to ecosystem
degradation, biodiversity loss, and the
destabilization of natural cycles, with long-
term effects on the ecological balance.
Yes, the company has
loans in its portfolio
granted to companies
operating in these
sectors.
E1: Climate Change
Mitigation
Scope 2 and Scope 3
greenhouse gas (GHG)
emissions, as well as air
pollution generated by the
Bank’s direct activities. The
consumption of electricity
and heat, and the use of
vehicles for transportation,
contribute to the carbon
footprint and air pollution,
negatively affecting the
quality of the environment
◇
Negative
❖ Current
■ Upstream
▶ Own
operations
Long
Greenhouse gas emissions and air pollution
generated by the Group’s activities can
affect the health of local communities by
increasing the incidence of respiratory and
cardiovascular diseases. In addition,
contributing to climate change can amplify
risks related to extreme weather events,
indirectly affecting safety and quality of life.
Yes, the company
generates emissions
at the operational
level and within the
supply chain (through
its business model).
63
Sustainability Statement 2024, Banca Transilvania Financial Group
E1: Energy
Financing renewable energy
projects
◆ Positive
 Potential
●
Downstream
All time
horizons
Contributes to broader access to clean and
sustainable energy sources, reducing
dependence on fossil fuels and lowering
long-term energy costs. It also creates jobs
in innovative sectors and improves quality
of life by reducing air pollution.
Investments in renewable energy reduce
greenhouse gas emissions, helping to
combat climate change. These projects
protect ecosystems by mitigating the
negative impact of conventional energy
sources and promote the sustainable use of
natural resources.
Yes, the company has
financing in its
portfolio for
renewable energy
projects
E1: Energy
Financing energy-intensive
sectors, such as the
refractory products
manufacturing sub-sector
◇
Negative
❖ Current
●
Downstream
All time
horizons
Funding for these sectors contributes to
increased greenhouse gas emissions and
air pollution, affecting the health of
communities by raising the risk of
respiratory and cardiovascular diseases.
Furthermore, the economic costs resulting
from the impact of climate change can
affect the financial stability of households
and communities.
The activities of energy-intensive sectors
contribute to an increased carbon footprint,
accelerating climate change and
environmental degradation. High
consumption of non-renewable resources
and the generation of industrial waste
affect ecosystems, reduce biodiversity, and
destabilize the environment’s natural cycles
in the long term.
Yes, the company has
financing in its
portfolio targeting
energy-intensive
sectors
E1: Energy
The use of non-renewable
energy sources and the lack
of measures to reduce
energy consumption in its
own operations, including in
data centers, lighting, and
office equipment.
◇
Negative
❖ Current
▶ Own
operations
Short
Medium
Increased operational costs and, indirectly,
higher prices for consumers. Additionally,
pollution generated by the production and
consumption of these energy sources can
affect the health of local communities by
increasing levels of air pollutants.
Dependence on non-renewable energy
sources intensifies greenhouse gas
emissions and contributes to the depletion
of natural resources. This amplifies climate
change, damaging ecosystems and
affecting biodiversity, while the lack of
measures to reduce energy consumption
accelerates environmental degradation.
Yes, the company’s
business model
involves energy
consumption
(headquarters,
branches, fleet).
S1: Secure
employment
Creating secure and
attractive jobs, supported
by diversity and competitive
wages, ensuring a decent
standard of living for
employees and supporting
the economic stability of
local communities.
◆ Positive
 Potential
▶ Own
operations
Short
Creating secure, well-paid jobs improves
employees’ quality of life, providing them
with a decent standard of living and
opportunities for professional development.
Diversity and inclusion in the workplace
promote social cohesion, and the resulting
economic stability supports the prosperity
of local communities.
Yes, through human
resources policies
S1: Collective
bargaining,
including the
proportion of
workers covered by
collective
Positive impact on
employees: BT GROUP has a
collective bargaining
agreement that establishes
working conditions, rights,
and obligations.
◆ Positive
❖ Current
▶ Own
operations
Short
Long
Collective bargaining and the existence of a
collective bargaining agreement ensure fair
working conditions and clear rights for
employees, promoting a healthy and stable
relationship between employers and
employees. This contributes to increased
job satisfaction and reduced labor disputes,
Yes, through human
resources policies
64
Sustainability Statement 2024, Banca Transilvania Financial Group
bargaining
agreements
supporting the well-being and economic
stability of employees in the short and long
term.
S1: Health and
Safety
Ensuring access to
necessary medical services
by offering a benefits
package that provides
stability and security
regarding staff health. This
contributes to long-term
well-being, which
employees experience in the
present.
◆ Positive
❖ Current
▶ Own
operations
In short
Offering a benefits package that includes
access to necessary medical services
supports staff health and well-being,
reducing stress related to potential medical
costs. This measure promotes employee
stability and security, contributing to
increased productivity and job satisfaction.
Yes, through human
resources policies
S1: Gender equality
and equal pay for
work of equal value
Wage gaps and unequal
opportunities among
employees based on gender
can lead to discrimination
and dissatisfaction among
staff.
◇
Negative
❖ Current
▶ Own
operations
Short
Long
May negatively affect employee well-being
and motivation, fueling perceptions of
unfairness and discrimination. In the
medium and long term, such situations can
lead to a decline in trust in the organization,
internal tensions, and difficulties in
attracting and retaining staff.
Yes, through human
resources policies
S1: Training and
skills development
Through training and career
development programs,
BTFG contributes to
improving employees’ skills
and professional
advancement.
◆ Positive
❖ Current
▶ Own
operations
Short
Medium
Training and professional development
programs enhance employees’ skills, boost
their confidence in their abilities, and
provide opportunities for career
advancement. These initiatives contribute
to job satisfaction and staff retention,
supporting personal and professional
development in the short and medium term.
Yes, through human
resources policies
S1: Employment
and Inclusion of
People with
Disabilities
Creating an inclusive work
environment for people with
disabilities.
◆ Positive
❖ Current
▶ Own
operations
Short
Environmen
t
Creating an inclusive work environment for
people with disabilities promotes equal
opportunities, reduces discrimination, and
fosters social integration. This helps
improve the quality of life for these
individuals by providing them with
economic stability and opportunities for
personal and professional development.
Yes, through human
resources policies
S1: Measures
against violence
and harassment in
the workplace
A work environment that
promotes non-discrimination
and appropriate behavior in
the workplace, with
beneficial effects on the
organizational climate and
on employees’ well-being
and mental health.
◆ Positive
❖ Current
▶ Own
operations
Short
Long
Implementing measures against workplace
violence and harassment creates a safe
and respectful environment that promotes
employee well-being, mental health, and
satisfaction. Such measures help reduce
stress, increase productivity, and build trust
between employees and employers in the
short and long term.
Yes, through human
resources policies
S1: Diversity
Promoting diversity among
employees, including
cultural, gender, or ethnic
diversity, can enhance
innovation and collaboration
within the team, thereby
improving the overall well-
being of employees.
◆ Positive
❖ Current
▶ Own
operations
Short
Long
Promoting diversity among employees
creates an inclusive environment that
encourages respect, collaboration, and the
exchange of ideas. Cultural, gender, or
ethnic diversity stimulates innovation and
helps create a healthy work atmosphere,
which improves employee well-being and
satisfaction in the short and long term.
Yes, through human
resources policies
S1: Confidentiality
Violations of employees’
privacy rights can negatively
affect employee satisfaction
and trust.
◇
Negative
 Potential
▶ Own
operations
Short
May undermine employee trust and their
sense of safety at work, affecting their
satisfaction and relationship with the
organization. In the medium and long term,
negative effects on the internal climate and
staff retention may arise.
Yes, through human
resources, data
protection, and
cybersecurity policies
65
Sustainability Statement 2024, Banca Transilvania Financial Group
S4: Confidentiality
(Impact of
information on
consumers and/or
end users)
Irresponsible and unethical
management of customer
data, given the large volume
of information collected
daily. Improper data
management can
compromise confidentiality
and have a negative impact
on customers and society at
large, especially in cases
involving PII (Personally
Identifiable Information).
◇
Negative
 Potential
▶ Own
operations
Short
Improper management of customer data,
particularly personal information, can lead
to a loss of trust and financial harm for
those affected.
Yes, through data
protection and
cybersecurity policies
S4: Access to
quality information
(Impact of
information on
consumers and/or
end users)
Access to quality
information significantly
contributes to increased
customer satisfaction and
facilitates informed
decisions.
◆ Positive
❖ Current
▶ Own
operations
Short
Long
Providing access to quality information
helps customers make informed decisions,
increasing their trust and satisfaction. This
contributes to improving their overall
experience and supports their (economic)
well-being in the short and long term.
Yes, from the strategy
that prioritizes
transparency and
customer
education/information
.
S4: Access to
products and
services (Social
inclusion of
consumers and/or
end users)
Facilitating access to
financing and promoting
financial inclusion for all
community members,
thereby supporting a
functional and equitable
economy. Through
increased accessibility to
financial products and
services, individuals have
greater opportunities to
improve their financial
situation, while also
contributing to the
community’s economic
development.
◆ Positive
 Potential
▶ Own
operations
All time
horizons
Facilitating access to finance and
promoting financial inclusion provides
individuals with opportunities to improve
their financial situation and actively
participate in the economy. This supports
personal well-being and reduces social
inequalities.
Yes, from the BT
GROUP strategy,
which prioritizes
social inclusion and
financial accessibility
for all community
members.
S4: Access to
products and
services
Supporting economic
activity and facilitating
access to a diverse range of
financial products, including
consumer, mortgage, and
auto loans, savings
accounts, and investment
products. These instruments
contribute to the growth and
diversification of economic
opportunities, promoting
social inclusion and
supporting the financial
well-being of individuals and
local communities. Through
improved access to
financing, consumers can
benefit from more efficient
resource management,
active participation in the
local economy, and an
improved quality of life.
Furthermore, supporting
initiatives for sustainable
food and transportation can
have positive effects on
food security and
community mobility.
◆ Positive
 Potential
●
Downstream
All time
horizons
Contributes to improving the financial well-
being of individuals and communities by
increasing access to financial resources
and economic opportunities. In the medium
and long term, it can support social
inclusion, the reduction of inequalities, the
financial stability of the population, and the
sustainable economic development of local
communities.
Yes, from the BT
GROUP strategy,
which prioritizes
social inclusion and
financial accessibility
for all community
members.
66
Sustainability Statement 2024, Banca Transilvania Financial Group
Facilitating savings and
prudent financial behavior
thus contributes to long-
term financial stability, the
reduction of inequalities,
and sustainable economic
development.
Sustainable
financing (a
specific BT GROUP
theme)
Promoting financial products
that meet clients’ needs,
integrating not only financial
factors but also criteria
related to the environment,
social responsibility, and
governance into the client’s
operations.
◆ Positive
❖ Current
● Upstream
Short
Long
Promoting sustainable financial products
helps customers achieve their financial
goals while integrating social responsibility.
This contributes to equitable economic
development and improved living
conditions for communities.
Yes, as part of BT
GROUP’s policies and
strategy, which
include objectives
related to increasing
the share of
sustainable financing.
Entrepreneurship
education and
financial education
(BT GROUP-
specific theme)
The impact is achieved by
supporting entrepreneurs,
startups, and small
businesses in developing
entrepreneurial and financial
skills and knowledge. This
support includes assistance
provided throughout the
financing process (in areas
such as financial literacy and
business management),
facilitating access to
specialists, and
implementing professional
training initiatives.
◆ Positive
 Potential
▶ Own
operations
Short
Medium
Supporting entrepreneurs, small
businesses, and individual customers
through financial education helps develop
the skills needed to manage personal and
business finances. This contributes to
greater economic stability, providing
greater opportunities for professional and
personal development for individuals and
communities.
Yes, through BT
GROUP’s policies and
strategy, which
include objectives
related to financial
education.
G1: Corporate
Culture
The impact can be
generated by reinforcing the
positive values of BTFG’s
corporate culture, which will
build trust among
employees, consumers, and
society.
◆ Positive
❖ Current
▶ Own
operations
Short
Strengthening the positive values of
corporate culture helps employees create
an ethical, transparent, and collaborative
work environment. This builds trust among
clients and consumers by providing
tangible support for their financial needs
and fostering relationships based on
respect and integrity.
Yes, from BT GROUP’s
policies and strategy,
which prioritize
promoting a corporate
culture based on
transparency, ethics,
and responsibility
toward customers and
society.
G1: Whistleblower
Protection
When employees feel safe to
report irregularities without
fear of retaliation, a
compliant work environment
is created, where
inappropriate behavior is
corrected promptly. This
system prevents fraud,
abuse, and corruption,
protecting BT GROUP’s
reputation and maintaining
the trust of the public and
customers.
◆ Positive
❖ Current
▶ Own
Operations
Short
Long
Creating a safe environment for reporting
misconduct supports employees by giving
them confidence that their concerns will be
taken seriously and without retaliation. This
helps improve employee morale, increase
trust in the organization, and foster an
ethical work environment.
Yes, from BT GROUP’s
policies and strategy,
which prioritize
transparency, ethics,
and regulatory
compliance, thereby
protecting employees,
customers, and the
external environment.
G1: Prevention and
detection, including
training
Training and education
activities on anti-corruption
principles and aspects, as
well as bribery prevention,
can positively contribute to
preventing cases of
corruption. This has a
beneficial impact on all
stakeholders with whom
◆ Positive
 Potential
▶ Own
operations
Short
Training activities on corruption and bribery
prevention help employees understand and
apply ethical principles in their work,
contributing to a work environment based
on integrity and respect. Preventing
corruption within the organization helps
increase public trust in the financial system
and the private sector. This supports a
fairer business environment, reduces
Yes, from BT GROUP’s
policies and strategy,
which prioritize ethics
training and
corruption prevention
to support a
transparent and
trustworthy business
environment.
67
Sustainability Statement 2024, Banca Transilvania Financial Group
BTFG personnel interact,
improving the business
environment and trust in the
financial system in general.
inequalities, and promotes regulatory
compliance, which contributes to the
overall well-being of society.
Theme/ Subtheme/
Sub-subtheme
Description of material risk
Magnitude of
financial impacts
Time
Horizon
Source of the risk
E1: Climate change
adaptation
★ Portfolio: Financing sectors such as agriculture, forestry, fishing,
manufacturing, construction, wholesale and retail trade, motor vehicle repair,
transportation, and warehousing exposes BT to risks associated with climate
change. Rising temperatures, desertification, drought, floods, and extreme
weather events can disrupt the operational activities of financed companies,
affecting crop yields, forest health, fish populations, and the integrity of
infrastructure.
In addition, the risk of wildfires, exacerbated by climate change, could result
in significant losses for BT through the destruction of assets and damage to
the bank’s reputation if it is perceived as supporting practices that do not
meet sustainability standards.
■ Upstream and ▶ Own Operations: BT faces operational and regulatory
risks in the context of climate change. Extreme weather events, such as
floods or storms, can disrupt daily operations and cause damage to the
Bank’s physical infrastructure.
Furthermore, increasingly stringent environmental regulations may lead to
higher operating costs. These risks may affect business continuity and
negatively impact BT’s reputation if the Bank is not perceived as complying
with sustainability and climate responsibility standards.
High
Short
Medium
In the portfolio: from
the financing the Group
provides (impact)
Upstream and own
operations: from
business relationships
and potential legislative
changes.
E1: Climate change
mitigation
★ Portfolio: Financing sectors such as manufacturing, construction,
transportation and warehousing, as well as real estate transactions, exposes
BT to risks associated with climate change mitigation. Risks include
exposure to litigation related to violations of environmental regulations or
contributions to greenhouse gas emissions, which may lead to lawsuits and
penalties, affecting the reputation and finances of the companies involved.
Furthermore, the transition to low-emission vehicle fleets and a low-carbon
economy presents significant challenges. Reliance on fossil-fuel vehicles,
the costs of complying with stricter environmental regulations, and the need
to finance green technologies and projects may negatively impact efforts to
reduce emissions and align with international climate goals.
In addition, BT faces the risk of climate change-related litigation, which
could have significant financial consequences and affect the Bank’s
reputation and stakeholders’ investment decisions.
High
Medium
Long
In the portfolio: from
the financing the Group
provides (impact) or
potential legislative
changes.
E1: Energy
★ Portfolio: Within the financial and banking sector, the high energy
consumption of the companies financed represents a significant
environmental risk for BT in the context of climate change.
Low energy efficiency and reliance on high-carbon energy sources can
increase the environmental footprint of financed companies and undermine
climate change mitigation initiatives. This situation may generate pressure at
the Group level (impact on the ability to reduce greenhouse gas emissions
associated with the portfolio).
High
Medium
Long
In the portfolio: from
the financing provided
by the Group (impact).
E5: Waste
★ Portfolio: Inefficient waste management in sectors financed by BT,
including agriculture, forestry, fishing, manufacturing, construction,
wholesale and retail trade, motor vehicle repair, transportation and storage,
financial intermediation, insurance, and real estate transactions, poses a
significant environmental risk.
Risks include the improper handling and disposal of chemicals, fuels, oils,
filters, batteries, and used tires, as well as the management of construction
and demolition waste. These practices can lead to environmental
Medium
Short
Medium
In the portfolio: of the
financing provided by
the Group (impact).
68
Sustainability Statement 2024, Banca Transilvania Financial Group
contamination, resource depletion, and increased greenhouse gas
emissions.
For BT, these forms of indirect impact generate risks that may result in
additional compliance costs, financial losses associated with penalties and
remediation, as well as potential reputational damage if the Bank is
perceived as supporting unsustainable practices.
In addition, there may be direct financial risks, such as the inability of
financed companies to repay loans due to high waste management costs or
penalties for non-compliance with environmental regulations.
S1: Training and skills
development
■ Upstream and ▶ Own operations: Inadequate training and education
processes can leave employees without the essential skills and knowledge
needed to effectively fulfill their roles, leading to decreased productivity and
stifled innovation, ultimately affecting the company’s financial performance.
This issue is particularly critical given the skills required for successful
digitalization.
High
Short
Medium
In own operations: from
the business model and
negative impact.
S4: Confidentiality
■ Upstream and ▶ Own operations: Data privacy and cybersecurity risks
can pose major challenges for BT. Data breaches can lead to the
compromise of customers’ personal information, affecting their trust and
financial security. Cyberattacks can disrupt banking operations, with the
potential to damage the Bank’s reputation and financial stability.
High
Short
In own operations: from
the business model and
negative impact.
Cybersecurity (BT GROUP-
specific topic)
■ Upstream and ▶ Own operations: The topic is material in upstream and
own operations because the security of IT infrastructure and data depends
on internal systems, protection, detection, and response processes, as well
as critical suppliers (IT, cloud, software, processors).
Internal or third-party vulnerabilities can lead to cyberattacks, data
breaches, operational disruptions, financial losses, and damage to the trust
of customers and authorities.
★ Portfolio: The issue is relevant downstream because a compromise of
BT’s system security could affect customers’ access to financial services,
expose personal or financial data, and lead to fraud with a direct impact on
users.
In addition, customers rely on BT to protect digital transactions, and cyber
breaches can lead to financial losses and damage to the group’s reputation.
High
All time
horizons
In-house operations:
from internal policies
and processes and
legislative regulations.
In the portfolio: from
the potential negative
impact on customers.
Combating financial crime
(BT GROUP-specific topic)
■ Upstream and ▶ Own operations: The topic is material in upstream and
own operations because the effectiveness of internal KYC, AML/CFT,
screening, and transaction monitoring processes depends on both internal
policies, systems, and competencies, as well as critical providers (IT, fintech,
operational services). Internal or third-party deficiencies may facilitate illegal
transactions and may result in sanctions, financial losses, and reputational
impact for the group.
High
All time
horizons
In our own operations:
from internal policies
and processes and
legislative regulations.
Combating financial crime
(specific BT GROUP topic)
★ Portfolio: This issue is material downstream because financial products
and services can be misused for money laundering, fraud, or other illegal
activities. The use of the portfolio for criminal purposes can have negative
impacts on society and the real economy and may expose the group to
sanctions, operational risks, and a loss of public trust.
Within the portfolio:
from potential
sanctions associated
with clients’ activities.
Topic/Subtopic/Sub-
subtopic
Description of material opportunity
Magnitude of
financial effects
Time
Time horizon
E1: Climate change
adaptation
★ Portfolio: BT has the opportunity to become a leader in sustainability by financing
projects that strengthen climate resilience, encourage environmentally friendly agricultural
practices, and facilitate the adoption of low-carbon technologies across various sectors,
including the automotive, construction, and manufacturing industries. This includes
investments in electric vehicle infrastructure, sustainable construction methods, and
improving supply chain efficiency.
By offering tailored financial solutions for these initiatives, BT can strengthen its market
leadership and help advance a more sustainable economy.
■ Upstream and ▶ Own Operations: Proactively adapting to climate change presents an
opportunity for BT to capitalize on the transition to a low-carbon economy. Implementing
High
Medium
Long
69
Sustainability Statement 2024, Banca Transilvania Financial Group
adaptation strategies, such as investing in resilient infrastructure, diversifying energy
sources, and developing new products and services, can lead to cost savings, innovation,
and a competitive advantage in a market increasingly focused on sustainability.
E1: Climate Change
Mitigation
★ Portfolio: Amid efforts to reduce greenhouse gas emissions and rising demand for
energy-efficient vehicles, there is an opportunity for BT to support the automotive industry
in producing hybrid and zero-emission vehicles. Entities that limit the use of critical
materials and develop alternatives can mitigate supply disruptions and price volatility, which
can have a positive impact on their margins and cost of capital.
In addition, promoting energy efficiency and conservation among consumers presents an
opportunity to reduce greenhouse gas emissions and save costs for both consumers and
utility providers. Strategies such as rebates for energy-efficient appliances, home
insulation, and investments in technologies like smart meters can reduce peak demand and
lower operating costs for utilities, while also delivering savings for consumers. BT can play a
key role in financing these initiatives, contributing to the transition toward a greener
economy.
High
Medium
Long
E1: Energy
★ Portfolio: BT has the opportunity to drive sustainable transformation across various
sectors by offering financial services that promote the green economy. The bank can
support the automotive industry’s transition to electric vehicles and finance low-carbon
clean energy projects, leveraging regulatory stability and long-term financial agreements.
BT’s role includes financing energy storage solutions and energy efficiency improvements in
buildings, collaborating with the Romanian government on programs such as “Prima Casă.”
Prioritizing investments in renewable energy companies and modernizing energy
infrastructure are essential for reducing emissions and conserving water. Financing
advanced technologies in energy generation, storage, and distribution offers opportunities
for growth and innovation. Competitive mortgage options for energy-efficient homes and
the facilitation of Energy Performance Certificates contribute to regulatory compliance and
improve property valuations.
Financing the expansion and modernization of transmission and distribution networks is
essential for energy security and accommodating new energy capacity. By financing high-
energy-efficiency properties, BT can reduce environmental and social risks, ensuring the
resilience of its mortgage portfolio in a market increasingly focused on sustainability.
High
Medium
Long
E5: Resource inputs.
Including resource use
Consumer preference for eco-friendly and sustainable products, along with the need for
efficient resource and supply chain management, presents an opportunity for BT to finance
innovations in the circular economy. Supporting companies that develop low-toxicity
products, improve transparency in supply chains, and adopt sustainable practices can help
increase market share, reduce regulatory risks, and strengthen brand reputation.
These initiatives can open new markets for BT and provide competitive advantages, while
contributing to the transition toward a greener and more responsible economy.
Environment
Medium
Long
S1: Adequate wages
▶ Own operations: Offering attractive compensation packages by BT can represent a
competitive advantage in the industry, strengthening the Bank’s ability to attract and retain
top talent. This can contribute to improving the Bank’s reputation and a positive market
perception, having a beneficial impact on the Bank’s financial performance.
Medium
Short
Medium
S1: Work-Life Balance
▶ Own operations: Supporting a healthy work-life balance can help BT cultivate a work
environment that promotes employees’ mental health, resulting in increased productivity
and an improved reputation as an employer, which can contribute to the Bank’s overall
financial performance.
Medium
Short
Environment
S1: Health and Safety
▶ Own operations: Focusing on employee health and safety through preventive health and
wellness programs can transform BT into an inclusive workplace where well-being is a
priority. This can lead to reduced absenteeism, increased productivity, greater employee
loyalty, and a reputation as a responsible and attractive employer.
Average
Short
Medium
S1: Gender equality and
equal pay for work of equal
value
▶ Own operations: BT’s commitment to the Diversity Charter represents a firm promise to
promote diversity and equal opportunities within its workforce. This commitment
underscores the Bank’s dedication to creating an inclusive work environment that
recognizes and values the diversity of its employees’ backgrounds and experiences.
Average
Medium
Long
S1: Training and Skills
Development
▶ Own operations: Facilitating a training and career development pathway for employees
can significantly contribute to attracting and retaining talent.
High
Short
Medium
70
Sustainability Statement 2024, Banca Transilvania Financial Group
S4: Access to products
and services
▶ Own operations: The emergence of new financing models and technologies presents an
opportunity for BT to expand its range of products and services to previously underserved
market segments, thereby opening up new sources of revenue. Offering loans and financial
services tailored to the needs of low-income populations and small businesses, in a
responsible manner, can contribute to long-term value creation and strengthen the Bank’s
reputation.
Medium
All time horizons
time horizons
Sustainable finance (BT
GROUP-specific theme)
The opportunity to diversify the portfolio through green products, such as green loans and
sustainable bonds, which meet the growing demand for investments with positive social
and environmental impact. This attracts both responsible investors and sustainability-
conscious clients, strengthening the Bank’s reputation and supporting the transition to a
low-carbon economy.
High
Medium
G1: Corporate Culture
▶ Own operations: Adopting an innovative culture that encourages digitization and digital
transformation can improve BT’s operational efficiency and attract a younger, tech-savvy
customer base. In addition, integrating sustainability principles into the corporate culture
and engaging in environmental and social responsibility projects can strengthen BT’s
reputation among ethically and environmentally conscious customers, providing a distinct
competitive advantage.
Medium
Short
Medium
71
Sustainability Statement 2024, Banca Transilvania Financial Group
1.4 Impacts, Risks, and Opportunities
IRO-1 – Description of the process to identify and assess material impacts, risks and
opportunities
Description of the methodology and assumptions applied in the double materiality
analysis process
The reassessment of impacts, risks, and opportunities as part of the 2025 update of the
double materiality analysis was conducted through a structured, phased process, built
upon the results of the previous assessment and adapted to reflect any developments in
the Group’s activities and context.
1. The first step of the process consisted of reviewing the impacts, risks, and
opportunities identified in the previous analysis, with the aim of assessing whether,
during 2025, new elements had emerged that required their supplementation or
adjustment. This review was conducted by analyzing relevant internal documents,
used to understand any updates to the Group’s policies, commitments, governance
framework, and strategic directions, as well as by examining existing reports on ESG
performance, risks associated with the main sectors financed, customer
satisfaction, and complaint management.
2. In a second stage, a comparative analysis was conducted at the sector level through
a benchmarking exercise that included seven banking institutions operating in the
Romanian market. The purpose of this approach was to assess the consistency of
material topics reported at the financial sector level and to verify the alignment of
the Group’s analysis results with the current practices of comparable institutions,
taking into account the specificities of the local market and the applicable regulatory
framework.
3. A third step in the process involved analyzing the results and existing mechanisms
for stakeholder engagement, with a focus on the perceptions and expectations of
employees and customers. To this end, the results of the Employee Net Promoter
Score (eNPS) survey were utilized, which provides relevant information on employee
satisfaction, organizational climate, and perceptions of internal governance, as well
as the results of the Net Promoter Score (NPS) survey, administered to retail and
corporate clients, to assess overall experience, the quality of products and services,
and the level of trust in the institution.
4. In addition, the Group engaged with users of sustainability information through
multiple external dialogue channels. With regard to ESG investors and analysts, the
Group participated in consultation sessions during which sustainability reports and
allocation and impact reports were analyzed. The discussions involved experts in
investor relations and ESG integration and focused on the quality, consistency, and
completeness of the reported information. The feedback received confirmed the
Group’s alignment with ESRS best practices, the EU Taxonomy, and the PCAF
72
Sustainability Statement 2024, Banca Transilvania Financial Group
methodology, as well as its prudent approach to defining material topics, while also
recommending the continued annual publication of the DMA methodology and the
inclusion of comparative information across reporting periods.
The Group also maintained an ongoing technical dialogue with international financial
institution partners, such as the IFC, focused on integrating ESG risks into lending
processes and on the level of transparency and granularity of sustainability reporting.
These interactions supported the process of engaging information users, contributing to
the external validation of material topics, both from the perspective of impacts and financial
risks.
At the same time, the involvement of internal stakeholders played a central role in the
analysis process, through consultation with relevant internal experts within the Group.
Representatives from human resources, legal, finance, risk, procurement, and business
lines were involved, coming together within the Group’s ESG Working Group. This group
includes members from the green and sustainable lending, data analytics and BI, ESG risk
analysis and sustainable finance, ESG integration and investor relations, human resources,
reporting, sustainable corporate governance and capital markets, treasury, risk
management, and data science departments. At the same time, each subsidiary of the
Group has designated a person responsible for sustainability issues, who collaborates
regularly with the bank’s working group to align initiatives and coordinate activities. The
early and ongoing involvement of these experts was essential for identifying, validating,
and reassessing impacts, risks, and opportunities, as well as for validating the results of
the DMA at every stage of the process.
Identification, assessment, prioritization, and monitoring of potential and actual impacts
The assessment and prioritization methodology remained unchanged from the previous
year, as the analysis conducted for the double materiality update which included “peer
analysis,” assessment of the internal and external context, evaluation of existing internal
mechanisms and stakeholder engagement processes, as well as the analysis of the results
obtained, did not identify any new triggers or additional forms of impact. Thus:
• In the assessment process, impacts were analyzed based on severity and likelihood
of occurrence, taking into account different time horizons, namely short-, medium-,
and long-term. Severity was determined based on the magnitude, scope, and
remediable or irremediable nature of the impacts, in accordance with the
requirements of ESRS 1 AR 10. Magnitude reflected the severity of negative impacts
or the level of benefits generated by positive impacts on people or the environment,
while scope indicated the extent of these impacts. Irreversibility was analyzed
exclusively for negative impacts and considered the extent to which their effects
could be remedied.
• Probability was assessed only for potential impacts and indicated the likelihood of
their occurrence. The time horizons considered were those specified by ESRS 1. For
73
Sustainability Statement 2024, Banca Transilvania Financial Group
potential negative impacts related to human rights, severity took precedence over
probability, such that impacts reaching a certain level of severity were considered
regardless of the estimated probability of occurrence.
• To assess the materiality of the impacts, a scale from 0 to 5 was used, with the
materiality threshold set at 2.5. This threshold was chosen in line with the practices
recommended in the EFRAG Implementation Guidance on Double Materiality
Analysis, with the aim of identifying as significant only those impacts with the
potential to substantially affect stakeholders and/or the environment. Impacts
assessed below the 2.5 threshold were classified as informational or minimal and
were not considered relevant for decision-making or reporting.
Updates on the use of the UNEP FI Portfolio Impact Analysis Tool for assessing the impact
of the loan portfolio
For the downstream component related to the loan portfolio, the impact analysis was
conducted using the UNEP FI Portfolio Impact Analysis Tool methodology, applied to the
relevant portfolio filtered according to the 10%, 8%, and 5% thresholds, at the sector,
subsector, and sub-subsector levels, in line with the approach described in the dedicated
methodological section. The assessment considered the structure of the 2025 loan
portfolio and aimed to identify the impacts associated with the economic activities financed
by the Group.
Given that the 2025 loan portfolio is classified using NACE Rev. 3 codes, while the UNEP FI
methodology and the sectoral impact map are based on ISIC classifications mapped to
NACE Rev. 2, a two-step mapping procedure was applied to ensure methodological
consistency. In the first stage, the NACE Rev. 3 codes for economic sectors, subsectors,
and sub-subsectors were converted into equivalent NACE Rev. 2 codes using the official
equivalence tables published by Eurostat. Subsequently, the resulting NACE Rev. 2 codes
were correlated with the corresponding ISIC classifications, in accordance with the
requirements of the UNEP FI methodology.
The results of the analysis confirmed the continuity of the loan portfolio’s impact profile. A
comparison of the identified impacts with the analysis conducted in 2024 showed that,
given the continued financing of the same relevant economic sectors, the financing
activities in 2025 did not generate new impacts at the portfolio level.
Identification, assessment, prioritization, and monitoring of risks and opportunities
Following the reassessment process, two new risks were identified, derived from a more
granular analysis of the Group’s dependence on critical internal processes and essential
third-party suppliers, as well as from a clearer correlation between the source of risks and
the areas of the value chain where they may manifest. The reassessment aimed, while
maintaining the previous methodological framework , to better reflect the specific nature
of each Group entity’s activities, the logic of internal risk management methodologies, and
74
Sustainability Statement 2024, Banca Transilvania Financial Group
the interdependencies between its own operations, upstream operations, and the portfolio,
so that relevant risks are documented explicitly and comparably in the analysis tool.
The first risk concerns cybersecurity and data protection and stems from the fact that this
issue arises simultaneously in multiple areas of the value chain, with different but
interconnected potential effects. In upstream and proprietary operations, reliance on
internal systems, protection, detection, and response processes, as well as on critical
suppliers in the IT, cloud, software, and processing sectors, creates a risk profile that
cannot be reduced to a single control point. Internal or third-party vulnerabilities can lead
to cyberattacks, data breaches, and operational disruptions, with financial and reputational
consequences. In the portfolio area, the same type of incident can affect customers’ access
to financial services, expose customers’ personal or financial data, and result in fraud with
a direct impact on users.
The second newly identified risk is associated with KYC, AML/CFT, screening, and
transaction monitoring processes and stems from a reassessment of how the effectiveness
of these processes depends not only on internal policies, systems, and capabilities but also
on critical third-party providers, including IT solutions, fintech, and operational services. In
its own operations and upstream, internal or third-party deficiencies may facilitate illegal
transactions and result in sanctions, financial losses, and reputational consequences for BT
GROUP. Within the portfolio, financial products and services may be misused for money
laundering, fraud, or other illegal activities, and this may have negative effects on society
and the real economy, while also exposing the Group to operational risks and a loss of
public trust.
The methodology for assessing risks and opportunities has not changed since 2024. These
were analyzed based on the potential magnitude of the financial effects and the probability
of occurrence. The magnitude of the financial effect was assessed using a scale from 0 to
3, where 0 indicates no impact, and 3 indicates a critical impact on BTFG’s financial
performance or operations. This scale, simplified to highlight the most relevant potential
financial effects, is correlated with BTFG’s internal risk scale, which ranges from 0 to 5.
Probability of occurrence was assessed on a scale from 0 to 5, allowing for a more detailed
assessment of the degree to which a risk or opportunity is likely to materialize. The financial
materiality threshold was set at 1.5, with the aim of identifying risks and opportunities with
at least a significant impact on the organization, while filtering out items with minimal
financial impact.
The Bank did not prioritize sustainability-related risks over other risk categories; these are
assessed within the same general risk management framework.
Assessment of the magnitude of the impact of risks associated with the portfolio
The magnitude of ESG risks associated with the portfolio was assessed by analysing the
exposure of the loan portfolio to climate‑related risks (physical and transition),
75
Sustainability Statement 2024, Banca Transilvania Financial Group
energy‑related risks, risks associated with waste management, and transition risks, using
climate and economic indicators integrated into the internal application for the
identification and assessment of climate and transition risk. The assessment was
performed in correlation with the clients’ ESG risk profiles and included a sensitivity analysis
of probabilities of default, with the aim of estimating the magnitude and potential impact of
these risks on repayment capacity.
As part of the analysis, transition risks associated with the financed activities were
considered, determined based on the relevant NACE code, namely CO₂ emissions risk,
technological risk, legislative risk, market risk and reputational risk. These risks may
generate financial pressure on clients in the context of the transition towards a sustainable
economy, with a potential impact on economic performance and probability of default.
In addition, physical climate risks were analysed using relevant climate indicators such as
average annual temperature, precipitation, wind speed and seismic risk, complemented by
additional indicators introduced in the assessment process (heat stress, temperature
variability, water stress, drought, heavy precipitation, storms, tornadoes and fluvial flood
risk). The analysis of these indicators allows for the estimation of the potential impact on
financed activities and on the value of collateral, including in scenarios where insurance
coverage is in place.
In assessing magnitude, the Bank used absolute values, frequencies, intensities and
specific indices calculated at county level for the period 2019–2023, based on data from
ANM, Ro‑Adapt, WRI Aqueduct and the European Severe Weather Database.
Assessment of the probability of risks associated with the portfolio
Probability was determined based on:
• the frequency and intensity of climate phenomena identified in historical data and
climate forecasts;
• legislative and economic developments regarding the transition to sustainable
practices;
• the macroeconomic context and anticipated pressures on the financed economic
sectors.
Given the acceleration of the climate transition across the entire economy, the probability
associated with transition risks was considered high or frequent.
Risks associated with governance and social issues
For these themes, the magnitude of the impact was assessed based on the potential direct
financial consequences for the bank, such as:
• significant fines
76
Sustainability Statement 2024, Banca Transilvania Financial Group
• additional operational losses
• remediation and compliance costs
• damage to customer trust and the institution’s reputation.
The probability associated with these risks was determined based on incident history, but
is considered dynamic, requiring continuous monitoring, given the increased exposure
generated by digitalization, large volumes of data, and interdependence with external
service providers.
Controls Implemented
To update the double materiality analysis, BT Group maintained a clear working process to
ensure the consistency of the assessment and the soundness of the conclusions.
Coordination of the analysis was the responsibility of the ESG&IR department, which
monitored the progress of the stages, reviewed the results, and incorporated feedback
received along the way.
The reassessment process was carried out with the support of a working group comprising
specialists from relevant departments, such as Human Resources, Legal, Finance,
Procurement, Risk, Investor Relations, and Business Lines. Their involvement contributed
to the validation of the information used and to an assessment grounded in the current
activities of the bank and its subsidiaries.
The progress of the analysis and preliminary results were periodically presented to the ESG
Committee, where they were discussed and adjusted as necessary. The resulting material
topics were approved by the ESG Committee and subsequently presented to the Audit
Committee, which performed the final validation.
Changes from the Previous Reporting Period
Compared to the previous reporting period, the methodology used for the double
materiality analysis was maintained to ensure consistency of results and comparability over
time.
The reassessment process aimed to update available information and conduct a more
detailed analysis of the company’s own operations, without significant changes to the
assessment methodology. In this context, two additional risks were identified, related to
cybersecurity and processes to prevent the misuse of financial services (KYC and
AML/CFT).
These developments led to the inclusion of two new specific material topics: Cybersecurity
and Combating Financial Crime. Overall, however, these additions reflect a more mature
analysis of exposures and trends relevant to the banking sector rather than a change in the
methodological framework.
77
Sustainability Statement 2024, Banca Transilvania Financial Group
2. Environmental Information
2.1 EU Taxonomy
For the year ended December 31, 2025, the Group reports Taxonomy information in
accordance with Annex V, Annex VI, and Annex XI of Commission Delegated Regulation
(EU) 73/2026.
The comparative information included in the Taxonomy reporting section has been
prepared in accordance with Annex V, Annex VI, and Annex XI of Commission Delegated
Regulation (EU) 2021/2178 under Taxonomy Regulation 2020/852. The key performance
indicators (KPIs) for prior periods were previously prepared in accordance with the
reporting requirements of the Delegated Act applicable before the amendments introduced
by the Omnibus Delegated Act.
The Group decided not to recalculate the KPIs published in 2025 using the rules applicable
from January 1, 2026, in accordance with the provisions of Question 4 of the draft
Commission Notice issued on 17 December 2025.
The approach adopted by the Group is based on the use of information available in internal
systems, publicly disclosed data reported by counterparties, and information collected
through internal ESG assessment processes. In applying the methodology, the Group aimed
to ensure the consistency, traceability and verifiability of the reported indicators, adopting
a prudent approach in situations where the information required to confirm alignment is not
available or does not allow for an appropriate assessment.
1. Regulatory framework on the EU Taxonomy
1.1 Overview of the framework
The European Union (EU) Taxonomy is a classification system for environmentally
sustainable economic activities, designed to direct capital flows towards activities that
contribute to the transition to a sustainable economy. Regulation (EU) 2020/852 (“the
Taxonomy Regulation”) establishes the framework for classifying environmentally
sustainable economic activities by defining six environmental objectives.
The technical screening criteria for these objectives are set out in the EU Taxonomy
delegated acts, namely:
• Delegated Regulation (EU) 2021/2139
• Delegated Regulation (EU) 2022/1214 amending Delegated Regulation (EU)
2021/2139
• Delegated Regulation (EU) 2023/2486
78
Sustainability Statement 2024, Banca Transilvania Financial Group
• Commission Notice C/2025/1373
For financial institutions, the framework introduces the Green Assets Ratio (GAR), an
indicator expressing the proportion of Taxonomy-aligned assets in total relevant exposures.
The disclosure of the GAR and of other indicators required by Article 8 is governed by
Delegated Regulation (EU) 2021/2178, subsequently amended by Regulation (EU)
2023/2486.
For the assessment of the sustainability of an economic activity, the EU Taxonomy is based
on two fundamental concepts: eligibility and alignment.
Eligibility represents a preliminary filter indicating whether an economic activity is included
in the list of activities defined by the Taxonomy and, therefore, may potentially contribute
to one or more environmental objectives.
Alignment reflects the extent to which an eligible activity fully meets the criteria
established by the regulation. To be considered Taxonomy alignes, an activity must:
• contribute substantially to at least one of the environmental objectives;
• do no significant harm to the other environmental objectives (Do No Significant
Harm – DNSH);
• comply with minimum social and governance safeguards (Minimum Safeguards –
MSS).
1.2 Significant legislative changes
At the beginning of 2026, the European Commission introduced a package of
simplifications through Delegated Regulation (EU) 2026/73, which amends the reporting
requirements under Regulation (EU) 2020/852 and the related delegated acts regarding the
methodology and format for reporting eligibility and alignment indicators.
These amendments are accompanied by a set of technical clarifications (FAQs) regarding
the application of the Article 8 disclosure requirements, as updated by the Omnibus
Delegated Act.
The main changes introduced:
• Materiality threshold: specific-use assets below 10% of the total may be excluded
from detailed assessment and reported separately.
• Simplified templates: the reporting structure is reduced and integrated; the tables
for fossil gas and nuclear energy are removed.
• Expanded scope: from 2026, alignment indicators are reported for all six
environmental objectives, not only for climate.
• Transition period: for 2025, the previous reporting format may be used.
79
Sustainability Statement 2024, Banca Transilvania Financial Group
1.3 Changes in presentation and reporting
During the current reporting period, the Group has performed the following changes:
1. The Group does not report Template 6 Fees and Commission KPI from DDA
2178/2021 by making use of the provisions of the DDA 73/2026, paragraph (7).
2. The Group reports for current year figures under the new amended regulation DDA
73/2026 Annex V, Annex VI and Annex XI.
3. In accordance with Article 8(3) of the Disclosures Delegated Act, reporting
undertakings should provide comparative data. The Group does not recalculate
comparative KPIs for the period ended December 31, 2024, under the new amended
Omnibus Delegated Act and continues to report Annex V, Annex VI and Annex XI
information as in the Delegated Regulations (EU) 2021/2178 applicable at the year
end mentioned. The decision of the Group is based on the provisions offered by
question 4 from the Draft Commission Notice from the 17
th
of December 2025.
4. The Group reassessed its total environmentally sustainable assets, including Main
KPI Stock****, Main KPI Stock***** (Template 0), as well as households - loans
collateralised by residential immovable property (Template 1 and 3). This
reassessment is based on improvements made to internal data extraction
processes, previously reported as contextual information in accordance with Annex
XI to Delegated Act 2021/2178. The Group implemented an integrated data
extraction process through Optical Character Recognition (OCR) and expanded the
EPC information database, including certificates for loans originated prior to 2020,
which had not been captured in the previous reporting cycle. For more information,
please see sections 3 and 4 below.
2. Scope of reporting
Information regarding the EU Taxonomy is prepared at the Group level, based on the
prudential consolidation perimeter applicable to credit institutions as of December 31,
2025. The reporting applies the requirements provided for financial institutions under
Regulation (EU) No. 575/2013 on prudential requirements for credit institutions (CRR) and
Commission Implementing Regulation (EU) 2021/451 (FINREP).
The taxonomy indicators are calculated based on data reported in FINREP prudential
reports.
3. Methodology for calculating GAR indicators
The methodology used to determine the eligibility and alignment of exposures is structured
according to two main categories:
• exposures to undertakings (financial institutions and non-financial undertakings)
• exposures to households – mortgage loans.
For exposures to undertakings, a distinction is made between:
80
Sustainability Statement 2024, Banca Transilvania Financial Group
• exposures with Known Use of Proceeds (KUoP)
• exposures with Unknown Use of Proceeds (UUoP).
3.1 Undertakings with Known Use of Proceeds (KUoP)
The identification of the KUoP exposures analised was based on two criteria: the purpose
of the financing (investments) and the type of green loan flag. The Group considered this
flag as an additional criteria because there are working capital loans with a green
designation for which the use of proceeds is known. Green loans granted to undertakings
are defined and monitored based on the Bank’s “Guidelines for Green Loan Granting,”
presented in the chapter dedicated to green financing within the Statement. These
exposures include loans for project financing as defined in Annex V, Part 2.89 of the CRR,
Article 147(8).
For these projects, verification of the technical criteria for substantial contribution was
performed using internal assessment and analysis tools.
For exposures determined as eligible, the following steps were followed for the purpose of
the alignment analysis:
Exposures were considered eligible for the alignment analysis only if:
1. The relevant criteria were determined for the purpose of assessing substantial
constribution in accordance with Delegated Act 2021/2139, including through the
identification of green financing granted for renewable energy projects
2. The selection included only exposures assessed as having an ESG risk level of at
most medium, following an ESG risk analysis performed using a detailed
questionnaire covering aspects relevant to the DNSH criteria and Minimum
Safeguards.
Thus, for the purpose of compliance with DNSH and Minimum Safeguards, the Group
documents a dedicated internal model, applied on an individual basis, in accordance with
Delegated Regulation (EU) 2021/2139, including the references in Appendix A relating to
the assessment of physical climate risks.
The internal model documents the assessment of the impact on other environmental
objectives, the analysis of project resilience to relevant physical climate risks, as well as
compliance with social and governance standards. The analysis is carried out by the ESG
Risk Analysis Department, in accordance with the Corporate Lending Policy and the internal
ESG analysis workflow applicable at the Group level.
3.2 Undertakings with unknown use of proceeds (UUoP)
In the case of UUoP exposures, the eligibility and alignment analysis is based on information
published by counterparties regarding their Taxonomy indicators.
81
Sustainability Statement 2024, Banca Transilvania Financial Group
The Group collects and analyzes information from the sustainability reports of
counterparties in the portfolio that fall within the scope of the NFRD (entities with more
than 500 employees):
• Share of EU Taxonomy eligibile/aligned activities;
• Indicators calculated based on Turnover and capital expenditures (CapEx)
• Breakdown by environmental objectives, where the information is available
The collected percentages are applied to UUoP exposures to determine the eligible and
aligned amount, both for the outstanding exposure as of December 31, 2025 (stock) and
for exposures granted during 2025 (flow). The results are aggregated in accordance with
the structure of Annex VI to Delegated Regulation (EU) 2026/73.
In the absence of information published by counterparties regarding Taxonomy indicators,
exposures are treated as non-eligible and non-aligned.
3.3 Households - mortgage loans
For the retail portfolio, the eligibility and alignment analysis was performed for residential
mortgage loans associated with economic activity 7.7 “Acquisition and ownership of
buildings.” The alignment of loans for building renovation and motor vehicle loans could not
be assessed due to the lack of information necessary for the DNSH assessment of these
financings.
For determining the alignment of exposures to households, the methodology differentiates
between two categories of buildings:
• Buildings constructed after 2020: the technical criteria is met if the property
complies with NZEB (Nearly Zero-Energy Building) requirements, in accordance with
national legislation.
• Buildings constructed in or before 2020: the technical criteria requires the existence
of an Energy Performance Certificate (EPC) valid at the reporting date, evidencing
classification in energy class A or A+. Mortgage loans without a valid EPC or with a
lower energy class are not considered eligible.
As part of the assessment of the DNSH principle regarding climate change adaptation, the
main physical climate risks relevant for the financed residential real estate assets were
analyzed, namely: water-related risks (flooding and rising water levels), wind-related risks,
landslides, risks related to extreme temperatures, and wildfires.
The assessment of physical climate risks is carried out by identifying the relevant hazards
and analyzing asset exposure, based on the geographical location of the properties and its
correlation with climate hazard maps used in internal climate risk analysis tools and external
databases. The analysis is carried out in accordance with Appendix A of Annex I to
Delegated Regulation (EU) 2021/2139 and covers relevant acute and chronic physical
climate hazards.
82
Sustainability Statement 2024, Banca Transilvania Financial Group
Specifically, in situations where the financed properties are located in counties
characterized by very high level of risk, as determined in accordance with the Group’s
methodology, water-related risks or other climate risks assessed at the aggregate level,
the financings are considered, as a prudent approach, non-aligned from the perspective of
the EU Taxonomy, even where the technical eligibility criteria for residential mortgage
granted to households is met.
In accordance with the clarifications published by the European Commission regarding the
application of the Taxonomy, the assessment of MSS is not applicable in the case of
financings granted to households.
In 2025, the Bank optimized the mechanisms for identifying and extracting data from EPCs
using automated OCR tools integrated into the collateral management workflow. The
process includes automated controls: verification of the energy auditor’s serial number, the
certificate number, and validation of the minimum mandatory information. Starting from
2025, the OCR process runs automatically, including an initial upload of historical
documents.
As a result of improvements to the collection and structuring of data on the energy
performance of buildings, the Bank reanalyzed its existing mortgage loan portfolio as of 31
December 2024. Following this reassesment, the volume of mortgage loans identified as
aligned with the EU Taxonomy as of 31 December 2024, is approximately four times higher
than the value reported in the Sustainability Statement for the previous financial year.
This development primarily reflects the improvement in the data collection process and the
availability of information on the energy performance of financed properties, and does not
indicate changes in the methodological criteria used to determine EU Taxonomy eligibility
and alignment.
For the reporting year 2025, the volume of mortgage loans aligned with the EU Taxonomy
remains at a level comparable to that resulting from the recalculation of the 2024 portfolio.
The process for determining eligibility and alignment for loans granted to households
remains unchanged compared to the methodology previously described in the report,
including with regard to the criteria on building energy performance and the assessment of
the DNSH principle.
4. EU Taxonomy Indicators
In accordance with the structure set out in Annex VI of Delegated Regulation (EU) 2026/73,
taxonomy indicators for credit institutions are presented using two distinct calculation
bases:
• indicators calculated based on the proportion of eligible and aligned activities in
counterparties’ turnover.
83
Sustainability Statement 2024, Banca Transilvania Financial Group
• indicators calculated based on the proportion of eligible and aligned activities in
counterparties’ capital expenditure (CapEx).
The indicators presented for 2025 should be interpreted taking into account certain
elements that may affect comparability with the reporting for 2024.
First, the amendments introduced by Delegated Regulation (EU) 2026/73, including the use
of the simplified form provided in Annex VI, result in differences in the structure of the
indicators and in the scope of the exposures included in the reporting.
Second, the scope of consolidation perimeter used for the 2025 reporting differs from that
used in the previous year, as a result of changes in the Group’s structure.
Disclosures in accordance with Annex XI
During the current year, the Group has made improvements related to the data extraction
and processing for EU Taxonomy reporting purposes. The Group implemented an
integrated data extraction process using OCR technology and expanded the database of
energy performance certificates to include certificates related to loans granted prior to
2020, which had not been captured in the previous reporting cycle (see section 3.3.)
The Group identified exposures originated prior to December 2020 for which energy
performance certificates are available, resulting in an additional amount of approximately
RON 953 million, representing 37% of the difference between the value reported at the end
of the 2024 financial year and the reassessed amount for eligible exposures to households
collateralised by residential immovable properties.
The remaining difference, of approximately RON 1,698 million, consists of the value
reported in the previous period, of approximately RON 633 million, as well as an additional
exposure of approximately RON 996 million, for which the Group obtained EPC related
information during 2025, either through customers submitting such certificates at the
Bank’s branches or through the reading of information via the improved OCR process.
This reassessment affects several comparative disclosures and indicators related to EU
Taxonomy reporting, namely Template 0, Tamplate 1, and Tamplate 3, as presented below.
In this context, the Group considers it appropriate to present restated comparative values
for the financial year ended 31 December 2024.
84
Sustainability Statement 2024, Banca Transilvania Financial Group
Template 0. Summary of KPIs to be disclosed by credit institutions under Article 8
Taxonomy Regulation as of 31 December 2025.
Total exposure to Taxonomy-
aligned activities (currency)
KPI (1) (%)
KPI (2) (%)
% coverage
(over total
assets) (3) (%)
Non-assessed
exposures (% of
covered assets)
(4) (%)
Non-assessed
exposures (% of
covered assets)
(4) (%)
Turnover-based
CapEx-based
Turnover-
based
CapEx-based
Turnover-based
Turnover-based
Main KPI
Green asset ratio (GAR)
stock
4,543.56
4,622.04
9.07%
9.22%
22.24%
29.04%
28.89%
Total exposure to Taxonomy-aligned
activities (currency)
KPI (1) (%)
KPI (2) (%)
% coverage
(over total
assets) (3) (%)
Non-assessed
exposures (% of
covered assets)
(4) (%)
Non-assessed
exposures (% of
covered assets)
(4) (%)
Turnover-based
CapEx-based
Turnover-
based
CapEx-based
Turnover-based
CapEx-based
Additional KPIs
GAR (flow)
1,548.14
1,559.25
13.31%
13.41%
55.54%
34.39%
34.39%
Trading book
Financial guarantees
20.01
25.26
1.63%
2.06%
99.96%
99.62%
Assets under
management
Fees and commissions
income (5)
(1) Based on the Turnover KPI of the counterparty.
(2) Based on the CapEx KPI of the counterparty.
(3) % of assets covered by the KPI over banks’ total assets.
(4) In accordance with Article 7(8) of this Regulation.
(5) Fee and commission income from services other than lending and
AuM.
85
Sustainability Statement 2024, Banca Transilvania Financial Group
Template 0. Summary of KPIs to be disclosed by credit institutions under Article 8
Taxonomy Regulation as of 31 December 2024.
Total environmentally
sustainable assets
(million lei)
KPI****
KPI*****
% coverage (over
total assets)***)
% of assets
excluded from the
numerator of the
GAR (Article 7(2)
and (3) and Section
1.1.2. of Annex V)
% of assets
excluded from the
denominator of the
GAR (Article 7(1)
and Section 1.2.4 of
Annex V)
Main KPIs
Green Asset Rate (GAR)
stock
2,558.77*
2.40%*
2.66%*
49.79%
72.83%
45.42%
Total environmentally
sustainable activities
(million lei)
KPI
KPI
% coverage (over
total assets)
% of assets
excluded from the
numerator of the
GAR (Article 7(2)
and (3) and Section
1.1.2. of Annex V)
% of assets
excluded from the
denominator of the
GAR (Article 7(1) and
Section 1.2.4 of
Annex V)
Additional
KPIs
GAR (on flow)
1,038.99
1.60%
1.45%
26.08%
82.36%
32.37%
Trading book*
Financial guarantees
7.14
0.99%
8.79%
Assets under
management
0.00
0.00%
0.00%
Fees and commissions
income**
* For credit institutions that do not meet the conditions of Article 94(1) of the CRR or the conditions set out in Article
325a(1) of the CRR
**Fees and commissions income from services other than lending and AuM
Institutions shall disclose forward looking information for this KPIs, including information in terms of targets, together
with relevant explanations on the methodology applied.
*** % of assets covered by the KPI over banks´ total assets
****based on the Turnover KPI of the counterparty
*****based on the CapEx KPI of the counterparty, except for lending activities where for general lending Turnover KPI
is used
* Comparative figure restated in accordance with the contextual information presented in the section “Disclosures
pursuant to Annex XI,” point 4
Note 1: Across the reporting templates: cells shaded in black should not be reported.
Note 2: Fees and Commissions (sheet 6) and Trading Book (sheet 7) KPIs shall only apply starting 2028.
SMEs´ inclusion in these KPI will only apply subject to a positive result of an impact assessment.
86
Sustainability Statement 2024, Banca Transilvania Financial Group
The full breakdown of the indicators is presented in Addendum 4 to the Statement. The
indicators for the financial year 2025 are presented using the structure of the templates
set out in Annex VI to Commission Delegated Regulation (EU) 2026/73. In addition, for
comparability purposes, comparative information for the year 2024 is also presented,
structured in accordance with the templates applicable to the comparative period, namely
Annex VI to Commission Delegated Regulation (EU) 2021/2178.
The evolution of the GAR indicator is driven by a combination of economic and
methodological factors.
From an economic perspective, the main factor is the expansion of the aligned residential
mortgage loan portfolio, supported by improvements in data collection and processing
(including through the use of OCR solutions), which have enabled the identification and
reclassification of a larger volume of exposures as aligned. At the same time, for exposures
to undertakings, the Group made progress in collecting and using counterparty-level
alignment information (Turnover and CapEx) for entities within the scope of NFRD/CSRD
reporting requirements, as well as in developing internal analyses regarding DNSH and MSS
criteria, thereby contributing to the expansion of the perimeter of eligible and aligned
assets.
From a methodological perspective, comparability with the previous year is affected by
changes in the reporting framework regarding the determination of the GAR denominator.
Starting with the 2025 financial year, certain categories of assets that were previously
included in the calculation base are no longer considered in the denominator, including
exposures not subject to NFRD/CSRD reporting requirements (including non-EU
counterparties), derivative instruments, short-term interbank loans, cash and cash
equivalents, as well as other categories of assets excluded under the revised framework.
This adjustment to the calculation basis contributed to the increase in the GAR,
independent of the actual evolution of the portfolio.
4. Use of estimates and professional judgment
Determining the eligibility and alignment of exposures with the EU Taxonomy involves, in
certain situations, the use of estimates and professional judgment, particularly in the
context of limitations regarding the availability and granularity of data.
These estimates are used exclusively in situations where the information required for the
strict application of the Taxonomy criteria is not directly available and are based on the
best information available at the reporting date.
With regard to the alignment of KUoP exposured, since the process of identifying eligible
exposures resulted in a high number of exposures, and applying a full, individual DNSH
analysis for all financed activities would have entailed a significant level of complexity, both
in terms of the volume of exposures and of the data requirements associated with the EU
87
Sustainability Statement 2024, Banca Transilvania Financial Group
Taxonomy criteria, professional judgment was exercised to apply an additional materiality
filter.
In this context, the alignment analysis was carried out as a priority exclusively for loans
granted to financing of renewable energy projects, taking into account both the
outstanding exposures as of 31 December 2025, relevant for stock indicators, and
exposures granted during financial year 2025, used for flow indicators. For these
exposures, the technical criteria, including those related to DNSH and, where applicable,
MSS, can be assessed based on sufficient and verifiable information.
The Group intends, going forward, to improve its analysis methodology, including by
extending the applicability of the DNSH analysis to a broader range of financed activities
and by increasing the level of granularity of the data used, depending on the availability of
relevant information.
5. Governance of the taxonomy assessment process
Implementing the EU Taxonomy requirements within the Group involves cross-
departmental collaboration as well as a clear internal governance framework. The process
of assessing the eligibility and alignment of exposures with the EU Taxonomy is coordinated
at the Group level and involves the ESG Integration, risk management, business lines,
finance and accounting, and other relevant support functions.
This governance framework aims to ensure consistent application of the assessment
methodology, the quality of the data used, and transparent and credible reporting of
taxonomy indicators.
The final results of the analysis are presented to executive management and are subject to
review within the relevant governance structures, including the Audit Committee, prior to
the publication of the report.
6. Limitations
The determination of the eligibility and alignment of exposures with the EU Taxonomy is
based on information available at the time the reporting is prepared, on data published by
counterparties, and on information collected through internal analysis processes. In this
context, the analysis is subject to methodological limitation and data availability
constraints, which may affect the coverage and level of the reported indicators.
In the case of UuoP exposures, the assessment of eligibility and alignment depends directly
on the information published by counterparties regarding their EU Taxonomy indicators.
Although the Bank’s methodology included the analysis of counterparties in the portfolio
that exceed the threshold of 500 employees and fall within the scope of sustainability
reporting requirements, only some of these entities explicitly disclose information on the
eligibility and alignment of their activities with the EU Taxonomy. In addition, in the case of
certain groups of companies, EU Taxonomy information is presented exclusively at
88
Sustainability Statement 2024, Banca Transilvania Financial Group
consolidated level, without a breakdown at the level of the individual legal entities within
the group. In such situations, the direct linkage between the indicators reported at group
level and the activities of the entity financed by the Bank may be limited.
Consequently, the methodology adopted uses exclusively publicly available and verifiable
information. In the absence of such information, exposures are prudently treated as non-
aligned or non-eligible, as applicable. This limitation reflects the current stage of
implementation of EU Taxonomy reporting in the market and is expected to gradually
decrease as reporting obligations expand through the application of the CSRD.
Under economic activity 7.7 “Acquisition and ownership of buildings,” the EU Taxonomy
provides that the eligibility of existing buildings may be demonstrated, inter alia, by such
buildings being within the top 15% of the national building stock in terms of primary energy
consumption. Applying this criteria requires the existence of a complete and representative
national database on the energy performance of buildings, enabling the assessment of the
distribution of primary energy demand. Currently, such a public analysis is not available for
Romania.
In this context, the Bank uses energy class A, as per the EPC, as an indicator for assessing
the eligibility of buildings constructed before 2021, in line with market practices adopted at
the European level.
At the same time, for some of the exposures related to the acquisition of buildings
constructed after 2020, the information available at the reporting date does not allow
explicit confirmation of compliance with NZEB requirements. In the absence of complete
and structured information in the available documentation that would allow verification of
compliance with the NZEB standard within the meaning of the methodology set forth by
the EU Taxonomy, these exposures were not included within the scope of exposures
determined to be eligible or aligned.
The regulatory framework on the EU Taxonomy and sustainability reporting is in a
continuous process of development. The amendments introduced by Delegated Regulation
(EU) 2026/73 and the subsequent clarifications published by the European Commission
reflect the evolving nature of this framework.
Therefore, future clarifications or regulatory amendments may require adjustments to the
methodology applied or to the treatment of certain exposures in future reporting exercises.
89
Sustainability Statement 2024, Banca Transilvania Financial Group
2.2 Climate Change
E1-6 Gross Scope 1, Scope 2 and Scope 3 greenhouse gas (GHG) emissions and total
GHG emissions
Carbon footprint
BT Group monitors and reports greenhouse gas emissions generated by its operational
activities in accordance with the reporting requirements set forth in ESRS E1 – Climate
Change and taking into account the recommendations of the Greenhouse Gas Protocol –
Corporate Accounting and Reporting Standard.
The emissions inventory includes emissions generated by the Group’s operational activities
and is structured according to the GHG Protocol methodology into three main categories:
Scope 1 (direct emissions), Scope 2 (indirect emissions from purchased energy), and Scope
3 (other indirect emissions).
Boundry of the emissions inventory
The greenhouse gas emissions inventory is prepared at the level of BT Group, in
accordance with the scope of consolidation perimeter used in the Group’s consolidated
financial statements.
The reporting perimeter includes Banca Transilvania and the Group’s subsidiaries that carry
out operational activities, both in Romania and in the Republic of Moldova, for which there
are relevant operational consumptions and available data on resource use.
The emissions inventory includes Group entities that generate operational consumption
associated with their activities, such as energy, fuel, or other resources used in the course
of operations.
The emissions inventory is primarily prepared using the operational control approach, in
accordance with the methodological principles of the GHG Protocol, and includes
emissions associated with activities over which the Group exercises operational control or
for which it directly manages resource consumption.
Methodology for calculating emissions
Calculating the carbon footprint associated with the Group’s operational activities involves
the following main steps:
1. Defining emission categories
Emissions are classified in accordance with the GHG Protocol methodology as follows:
Scope 1 – Direct emissions
90
Sustainability Statement 2024, Banca Transilvania Financial Group
• stationary combustion of fuels used in heating equipment or other fixed installations;
• mobile combustion associated with the use of fuels in the Group’s vehicle fleet;
• emissions resulting from the use and leakage of refrigerants from air conditioning
and refrigeration equipment.
Scope 2 – Indirect emissions from purchased energy
• emissions associated with electricity consumed in the Group’s buildings and
operations;
• emissions associated with purchased thermal energy.
For purchased electricity, emissions are reported using two approaches:
• location-based, based on the emissions factor of the national energy mix;
• market-based, based on the contractual characteristics of the purchased energy.
Scope 3 – Other indirect emissions
The inventory includes the Scope 3 emission categories considered relevant to the Group’s
operational activities, namely those categories for which data is available and which
adequately reflect the impact associated with the activities carried out. In this regard, the
following categories have been included:
• purchased goods and services;
• capital goods;
• fuel and energy-related activities not included in Scope 1 or Scope 2;
• waste generated in operations;
• business travel;
• employee commuting.
Other Scope 3 emission categories defined by the GHG Protocol were not included in the
current inventory, either due to their limited relevance to the Group’s business model or due
to limitations regarding the availability and quality of the data required for estimation. The
Group aims to gradually expand the scope of Scope 3 emissions as internal data collection
processes and the availability of information improve.
Financed emissions associated with loan and investment portfolios, which represent a
distinct and material category for the BT Group, are analyzed and presented separately in
the dedicated section, in accordance with the Partnership for Carbon Accounting Financials
(PCAF) methodology.
2. Data Collection and Consolidation
Data on resource consumption and activities relevant to emissions generation are collected
annually from Group entities and centralized at the consolidated level.
91
Sustainability Statement 2024, Banca Transilvania Financial Group
The data includes, among other things:
• electricity and heat consumption;
• consumption of fuels used in operational activities;
• use of refrigerants;
• quantities of waste generated in operations and methods of their treatment or
disposal;
• relevant operational expenses used to estimate certain categories of indirect
emissions;
• transportation activities and business travel.
3. Application of emission factors
Emissions are calculated by applying standardized emission factors, which reflect the
amount of greenhouse gases emitted per unit of activity or consumption.
Results are expressed in tons of CO₂ equivalent (tCO₂e).
Sources used for emission factors
For estimating emissions, internationally recognised databases and methodological
sources were used, including:
DESNZ / DEFRA – UK Government GHG Conversion Factors
The set of greenhouse gas conversion factors published annually by the UK government is
one of the most widely used sources for corporate emissions reporting. It includes emission
factors for fuels, electricity, transportation, water, waste, and other activities relevant to
organizational emissions inventories.
EPA – GHG Emission Factors Hub
The U.S. Environmental Protection Agency (EPA) publishes sets of standardized emission
factors used to estimate emissions from fuels, energy, transportation, and other operational
activities. These are frequently used in corporate emissions inventories and in GHG
Protocol-style organizational reporting.
IPCC Emission Factor Database (EFDB)
The Intergovernmental Panel on Climate Change (IPCC) database includes internationally
recognized emission factors used in the preparation of national greenhouse gas emission
inventories. This database provides scientifically validated emission factors for a wide
range of sectors and activity types.
92
Sustainability Statement 2024, Banca Transilvania Financial Group
Eurostat – environmental accounts and emissions statistics
Eurostat provides statistics and datasets on environmental accounts and greenhouse gas
emissions at the European Union level. These data are used in particular to estimate indirect
emissions based on economic models and to analyze emissions associated with the
consumption of goods and services.
Bilan Carbone® (ADEME)
The Bilan Carbone® methodology, developed by the French agency ADEME, provides a
methodological framework for calculating the carbon footprint and includes an extensive
database of emission factors used to estimate emissions over the life cycle of products and
services.
ANRE – information on the national energy mix
Data published by ANRE on the energy mix and the structure of electricity production in
Romania are used to estimate emissions associated with electricity consumption in the
location-based approach, reflecting the characteristics of the national energy system.
The use of these sources ensures methodological consistency and the comparability of the
emissions inventory with internationally accepted practices.
EXIOBASE
EXIOBASE is a multi-regional input-output (MRIO) database used to analyze economic
flows and the environmental impacts associated with economic activities at the global level.
It integrates data on production, consumption, and trade between sectors and regions,
correlated with environmental indicators, including greenhouse gas emissions.
Governance of the emissions calculation and reporting process
The process of collecting data and calculating greenhouse gas emissions at the BT Group
level is coordinated by the Procurement Department, in collaboration with other relevant
operational units of the Group.
Data on energy consumption and relevant operational activities are collected from Group
entities and from the departments responsible for building administration, logistics,
procurement, human resources, and other support functions.
The process includes:
• collecting operational data;
• verifying and reconciling this data at the Group entity level;
• applying emission factors;
• consolidating the emissions inventory at the Group level.
93
Sustainability Statement 2024, Banca Transilvania Financial Group
The results are integrated into the annual sustainability reporting process and are included
in the Group’s Sustainability Statement.
Evolution of greenhouse gas emissions
The table below presents the evolution of greenhouse gas emissions generated by the
Group’s operational activities during the 2024–2025 period.
Scope
Activitate
2025
(TCO₂)
2024
(TCO₂)
Variație
(2025 vs.2024)
Scope 1
Scope 1 - Total
8,795.24
7,643.98
15.06%
Scope 1
Combustion in stationary sources
3,951.03
3,411.54
15.81%
Scope 1
Combustion in mobile sources
4,009.55
3,787.74
5.86%
Scope 1
Refrigerants
834.66
444.70
87.69%
Scope 2
Scope 2 – Total – Location-based
7,027.79
4,554.87
54.29%
Scope 2
Scope 2 – Total – Market-based
1,803.61
1,755.12
2.76%
Scope 2
Purchased electricity
(location-based)
6,826.29
4,169.78
63.71%
Scope 2
Purchased electricity
(market-based)
1,602.11
1,370.01
16.94%
Scope 2
Thermal energy
201.50
385.11
-47.68%
Scope 3
Total upstream Scope 3
55,471.98
45,895.75
20.87%
Scope 3
Category 1: Purchased goods and services
42,991.40
38,888.55
10.55%
Scope 3
Category 2: Capital goods
5,584.23
1,109.49
403.32%
Scope 3
Category 3: Fuel and energy-related
activities (not included in Scope 1 or 2)
3,472.27
3,045.00
14.03%
Scope 3
Category 5: Waste generated in operations
1,821.71
1,883.39
-3.27%
Scope 3
Category 6: Business travel
1,581.24
948.81
66.66%
Business travel – by air or train
1,222.96
818.93
49.34%
Business travel – hotels
358.29
129.88
175.86%
Scope 3
Category 7: Employee commuting
21.13
20.51
3.02%
Scope 3
Total upstream Scope 3
6,232,701
2,499,823
149.33%
Scope 3
Category 15: Investments
6,232,701
2,499,823
149.33%
Scope 3
Scope 3 – Total
6,288,173
2,545,719
147.01%
Total
Total Emissions - location-based
6,303,996
2,557,918
146.45%
Total
Total Emissions - market-based
6,289,771
2,555,118
146.52%
94
Sustainability Statement 2024, Banca Transilvania Financial Group
Emissions intensity
(tCO₂/ million RON)
2025
2024
1
Variație
2025 vs. 2024
Scope 1
Scope 1 - Total
0.75
0.70
6.22%
Scope 2
Scope 2: Total - Location-based
0.60
0.42
42.44%
Scope 2
Scope 2: Total - Market-based
0.15
0.16
-5.13%
Scope 3
Total upstream Scope 3
4.71
4.22
11.58%
Scope 3
Total upstream Scope 3 excluding Scope
3 clients*
214.26
229.83
2
-6.77%
Scope 3
Total downstream Scope 3
529.00
229.83
130.18%
Scope 3
Scope 3 – Total
533.71
234.04
128.04%
Total
Total Emissions - location-based
535.06
235.17
127.52%
Total
Total Emissions - market-based
534.61
234.91
127.58%
1
In the current year, the Group reassessed emissions intensity by considering net revenues (as at 31 December 2024, intensity was reported
relative to turnover). In addition, the Group considers it appropriate in the current year to provide a more detailed presentation of emissions
intensity.
2
See the section “Financed emissions”.
* The Group reports emissions intensity calculated in relation to all Scope 3 emissions in accordance with ESRS E1‑6 DR. However, given that
the estimated client Scope 3 emissions are included in the total downstream Scope 3 emissions, the Group considers it appropriate to also
present an adjusted intensity excluding these values, in order to preserve comparability with the previous reporting period and to avoid double
counting of emissions attributed to the financed portfolio.
For the calculation of greenhouse gas emissions intensity, the indicator was reported
against consolidated net income, determined based on the consolidated profit and loss
account, in accordance with the Group’s consolidated financial statements.
Emissions related to sovereign bonds are not included in total financed emissions, as this
would lead to double reporting: states already disclose their emissions at sovereign level,
and reintroducing them in the financed portfolio would lead to double counting of values
attributed to the Group. At the same time, investors in sovereign bonds do not have
operational control over, nor influence on, a sovereign’s emissions, unlike equity or
corporate bond exposures, where the exercise of control may contribute to steering
emissions onto a decarbonisation pathway.
Analysis of the evolution of emissions generated by the BT Group’s activities
In 2025, total greenhouse gas emissions generated by the operational activities of the BT
Group recorded, overall, an increase compared to the previous year. Their evolution mainly
reflects the dynamics of the Group’s operational activity and the expansion of the volume
of operations carried out. The absolute increase in operational emissions primarily reflects
the expansion of activities and operations. For financial institutions, the level of operational
emissions is directly influenced by the size of the operational network, the number of
employees, and the infrastructure used to carry out activities.
95
Sustainability Statement 2024, Banca Transilvania Financial Group
Given the specific nature of the business model of a financial institution, the emissions
generated by operational activities represent a relatively limited component of the total
carbon footprint associated with the Group’s activity. The significant climate impact of the
banking sector is primarily driven by the financed emissions associated with the loan and
investment portfolios, which are calculated and analysed separately in accordance with the
PCAF methodology.
The significant increase observed in total emissions and emissions intensity in 2025
compared to 2024 is primarily driven by downstream Scope 3 emissions. This trend
primarily reflects the update to the calculation methodology applied starting with the 2025
reporting, which led to a more comprehensive capture of indirect emissions associated with
loan and investment portfolios. The new methodological approach uses intensity factors
determined based on an EE-MRIO model, which more accurately reflects emissions
generated throughout the value chain and consequently leads to an increase in reported
Scope 3 emissions, particularly downstream.
Methodological limitations and use of estimates
The carbon footprint is calculated based on data available at the reporting date and in
accordance with the GHG Protocol methodology.
In certain cases, the estimation of emissions involves the use of standardised emission
factors or estimation methods, in particular for certain categories of indirect Scope 3
emissions, where primary data may be limited.
In situations where the calculation methodology or emission factors are updated, the values
reported for previous periods may be recalculated to ensure the comparability of the data
series over time.
The Group aims to continuously improve the data collection process and expand the
coverage of the emissions inventory.
Financed emissions
Methodological Framework
Financed emissions represent the main component of the indirect carbon footprint
associated with the Group’s lending and investment activities and reflect the greenhouse
gas emissions generated by the economic activities financed through its portfolios.
The methodology used to estimate the Group’s financed emissions is built on the
recommendations of the Partnership for Carbon Accounting Financials (PCAF), in particular
the methodological framework presented in the standard “The Global GHG Accounting and
Reporting Standard for the Financial Industry – Part A: Financed Emissions, Second Edition
(2022)”.
96
Sustainability Statement 2024, Banca Transilvania Financial Group
This standard provides guidance for estimating and reporting greenhouse gas emissions
associated with the loan and investment portfolios of financial institutions, enabling the
assessment of the climate impact of financed activities and the monitoring of its evolution
over time.
In applying this framework, the Group uses the principles and formulas recommended by
the PCAF methodology, adapted according to data availability and the characteristics of
the analyzed portfolio.
The calculation of financed emissions is performed annually and covers the relevant loan
and investment portfolios of the entities whithin the Group that manage such exposures.
The assumptions used, methodological limitations, and key professional judgments applied
in the estimation process are presented in a separate section of this methodology.
Developments in the PCAF Standard
On 2 December 2025, PCAF published the third edition of the Global GHG Accounting and
Reporting Standard for the Financial Industry – Part A: Financed Emissions.
The update to the standard introduces additional methodologies for certain types of
financial exposures and complementary guidance on reporting avoided emissions and
forward-looking metrics. However, the methodologies applicable to the main banking
assets classes relevant to the Group, such as business loans, real estate loans, and motor
vehicle loans, have not undergone substantial changes.
Given the timing of publication of this update, the Group has not yet applied the new version
of the standard in the calculation of financed emissions for reporting year 2025. Any
relevant methodological updates will be analysed and integrated into future reporting
cycles.
Scope of application of the methodology
The methodology described in this section applies to the calculation of financed emissions
related to the Group’s loan and investment portfolio as of the reference date of 31
December 2025.
The analysed perimeter includes the relevant exposures from the portfolios of the entities
within the financial consolidation perimeter of BT Group that manage lending or investment
activities and that fall within the scope of this methodology. These are:
• Banca Transilvania
• Victoriabank
• O.C.N. Microinvest
• Salt Bank
• BT Microfinanțare
97
Sustainability Statement 2024, Banca Transilvania Financial Group
• BT Leasing Transylvania
• BT Leasing Moldova
• BT Asset Management
• INNO Investments
• BT Pensions
• BRD Pensions
• BT Investments
• BT Invest1 Closed-End Investment Fund
• Improvement Credit Collection
From a geographical perspective, the financed emissions assessment covers the main
regions in which the Group carries out operational activities:
• Romania, the Group’s primary market;
• the Republic of Moldova, through the presence of the subsidiaries Victoriabank, BT
Leasing Moldova, and Microinvest.
Comparative information for the prior period (31 December 2024) is presented for
informational purposes and was determined based on the perimeter and methodology
applied at the time of that reporting. Differences between the results reported for the
analyzed periods may reflect changes in the scope of application, data availability, or the
methodological assumptions used in the process of estimating financed emissions.
Classification of exposures in according with the PCAF methodology
The exposures included in the calculation of financed emissions are classified in
accordance with the asset classes defined by the PCAF methodology, depending on the
type of financial instrument and the purpose of the financing.
The main categories of exposures analyzed are:
• business loans;
• project finance;
• commercial real estate;
• residential real estate;
• motor vehicle loans;
• equity instruments;
• corporate bonds;
• sovereign bonds.
The classification of exposures is performed based on the type of counterparty and the
characteristics of the financial instrument, using the information available in the Group’s
internal systems.
98
Sustainability Statement 2024, Banca Transilvania Financial Group
The exposure classification structure used in the calculation of financed issues is illustrated
in the diagram below.
Data sources used
The determination of financed issues is based on a combination of internal and external
data.
Financial data
The financial data used includes:
• the gross carrying amount of loans and investments;
• total revenues of counterparties;
• equity and debt;
• market capitalization for listed companies.
This information is collected from:
• the Group’s internal systems;
• the financial statements of counterparties;
• external platforms, such as Bloomberg.
In all cases, there is a one-year lag between the reporting date of financed emissions and
the period to which the financial data used refers, due to differences between the reporting
deadlines applicable to financial institutions and those applicable to companies.
Emissions Data
Emissions data are collected from multiple sources, including:
• companies’ public disclosures;
• the Bloomberg platform;
Companies
Listed equity Corporate bonds Loans
Business loans Investment loans
Motor vehicle
loans
Commercial Real
estate
Other
Project finance
Individuals
Mortgages
Motor vehicle
loans
Project Finance
Listed Equity Loans
Sovereign bonds
99
Sustainability Statement 2024, Banca Transilvania Financial Group
• the EDGAR database on global emissions;
• the PCAF database on building emission factors;
• the European Environment Agency's database on vehicle emissions;
• the EXIOBASE database.
Selection of emission factors
Greenhouse gas emissions associated with credit and investment portfolios are estimated
using, in order of priority, the following types of data:
1. emissions reported directly by counterparties;
2. emissions estimated based on the characteristics of the financed asset and
available operational data;
3. emissions estimated based on economic activities, using emission intensity factors.
1. Directly reported emissions
When available, the Group uses emissions reported directly by counterparties in their
sustainability reports, annual reports, or other public documents. The information is
collected from external platforms, such as Bloomberg, or from clients’ public reports.
Currently, only a limited number of financed companies publish carbon footprint
information, and collecting this information from public reports remains difficult to scale
across the entire portfolio.
2. Estimated emissions based on the characteristics of the financed asset and
available operational data
The Group does not currently use, on a systematic basis, primary operational data reported
directly by corporate clients, such as fuel consumption, energy consumption or production
volumes. However, for certain asset classes, such as real estate loans and motor vehicle
loans, specific characteristics of the financed asset are used to select more granular
emission factors.
In the case of real estate loans, where this information is available, the building type and
the energy performance certificate are used to select the corresponding emission factors
from the PCAF database. In the case of car loans, the estimation of emissions takes into
account relevant vehicle characteristics, such as make, model and fuel type.
3. Estimated Emissions Based on Economic Activities
In situations where directly reported emissions or asset-specific data are not available, the
Group uses emission intensity factors to estimate emissions associated with
counterparties.
100
Sustainability Statement 2024, Banca Transilvania Financial Group
Methodological update applied starting with the reporting as at 2025
Starting with the reporting for December 31, 2025, the Group has updated the methodology
used to estimate the emission intensity factors applied to loan and investment portfolios.
In previous reporting periods, the estimation of emissions associated with corporate
counterparties was based on sectoral emission factors calculated for the Romanian
economy, derived from statistics published by the National Institute of Statistics. These
factors reflected the average intensity of direct emissions (Scope 1) at the level of
economic sectors.
For counterparties located in other jurisdictions, these factors were adjusted by applying a
multiplier based on the ratio between each country’s greenhouse gas emissions relative to
GDP (PPP) and those of Romania.
Under the updated methodology, emission intensity factors are determined using an
environmentally extended multi-regional input-output (EE-MRIO) model based on the
EXIOBASE v3.8.2 database, which integrates global economic and environmental
information at global level.
The model uses intersectoral relationships in the economy to estimate the emission
intensities associated with economic output, by applying the input-output analytical
framework developed by Leontief. In this context:
• Scope 1 emission intensities are determined based on direct emissions reported in
the environmental accounts of the EXIOBASE database for each economic sector
and for each country;
• Scope 2 and Scope 3 upstream intensities are derived using the intersectoral
relationships within the input-output model, by propagating indirect effects along
supply chains via the Leontief inverse.
This approach allows for the estimation of total emission intensities for each economic
sector, as well as the separation of of the contributions relating to Scope 1, Scope 2 and
upstream Scope 3, expressed in tCO₂e per RON million of economic activity.
For the consistent application of these factors to the Group’s portfolio, a mapping was
performed between the classification of economic activities used in the internal systems
and the EXIOBASE sectors. As the European statistics used starting with 2025 apply NACE
Rev. 2.1, while the historical series and correspondences used in the EXIOBASE model are
built on the basis of an earlier classification, the loan and investment portfolio was
transposed from NACE Rev. 2.1 into NACE Rev. 2 to allow the consistent application of the
available intensity factors.
The output of the model consists of a set of emission intensity factors at country and
aggregated economic sector level, corresponding to sectors A–U according to the NACE
101
Sustainability Statement 2024, Banca Transilvania Financial Group
Rev. 2 classification, which are subsequently used in the algorithm for calculating financed
emissions for corporate counterparties in the Group’s portfolios.
The intensity factors estimated based on the EXIOBASE data model are reviewed and
updated annually using the most recent version of the database available at the time of
calculation. Given the nature of EE-MRIO databases, these updates are inherently based
on historical series available with a certain time lag relative to the reporting year.
Determination of allocation factors
The attribution factor reflects the proportion of a counterparty’s total emissions that can
be allocated to the financial institution based on the level of financing granted. In
accordance with the PCAF methodology, it is determined by comparing the value of the
Group’s exposure with a measure of the total value of the counterparty or the financed
asset.
The formula used to calculate the attribution factor differs depending on the type of
financial exposure and the characteristics of the counterparty, as presented in the table
below.
Exposure type
Calculation basis
Attribution factor formula
Business loans, project finance loans, equity instruments,
and corporate bonds – listed counterparties
Enterprise Value Including Cash
(EVIC)
Attribution factor =
Credit balance /
EVIC
Business loans, project finance loans, equity instruments,
and corporate bonds – unlisted counterparties
Total liabilities + equity
Attribution factor =
Credit balance /
(Total liabilities +
equity)
Sovereign debt
GDP at purchasing power parity
(PPP GDP), expressed in RON
equivalent
Attribution factor =
Investment balance /
PPPGDP_USD
(RON equivalent)
Commercial and residential real estate loans
Property value at the time the
loan was granted
Attribution factor =
Loan balance /
Property value at the time
the loan was originated
Motor vehicle loans
Vehicle value at the time the
loan was granted
Attribution factor =
Loan balance /
The value of the vehicle at
the time the loan was
originated
For listed corporate exposures, the Enterprise Value Including Cash (EVIC) indicator is used
to determine the allocation factor when available, as it reflects the total value of the
company from the perspective of invested capital. In situations where this indicator is not
available, the Group uses as a proxy the sum of the counterparty’s total liabilities and equity.
102
Sustainability Statement 2024, Banca Transilvania Financial Group
To avoid over-allocation of issues in situations where the Group has multiple exposures to
the same counterparty, the allocation factors are aggregated at the client level, and the
total allocation factor for a counterparty is capped at a maximum value of 1. This limitation
ensures that a counterparty’s total emissions are not allocated to the financial institution in
excess of 100% and prevents double-counting of emissions within the portfolio.
In the case of project finance, in the absence of detailed information regarding the financing
structure and the total value of the project, the Group applies the same methodology for
determining the attribution factor for business loans. The limitations associated with this
approach are presented in the section dedicated to methodological limitations.
Calculation of total emissions
Total emissions represent the total amount of greenhouse gases associated with the
economic activities carried out by financed counterparties. These constitute the basis of
calculation for determining the Group’s financed emissions, after application of the
attribution factor.
In situations where directly reported emissions from counterparties are not available, the
Group uses estimates based on sectoral intensity factors derived from input-output
economic models or internationally recognised sectoral databases.
The estimation methods used for the main categories of exposures are presented in the
table below.
Exposure type
Method for estimating
total emissions
Formula used
Data sources
Business loans,
project finance
loans, equity
instruments, and
corporate bonds
Estimate based on
sectoral emission
intensity relative to
the counterparty’s
economic activity
Total emissions =
Total revenue ×
Sectoral emissions
(tCO₂e / million
RON)/10⁶
Intensity factors estimated using the EE-MRIO
(EXIOBASE) model, which integrates global
economic and environmental data and enables
the estimation of direct and indirect emissions
by economic sector
Sovereign debt
Estimate based on the
country’s total
emissions relative to
economic activity
Total emissions =
Country’s total
emissions (tCO₂e)
World Bank – GDP at purchasing power parity
(PPP); EDGAR – national greenhouse gas
emissions
Commercial real
estate loans
Estimate based on the
building’s floor area
and the average
emissions intensity ( )
for commercial
buildings
Total emissions =
Built-up area ×
Emissions per m² for
commercial buildings
(tCO₂e / m²)
PCAF Real Estate Database
Mortgages
Estimate based on
dwelling area and
emissions intensity for
residential buildings
Total emissions =
Built area ×
Emissions per m² for
residential buildings
(tCO₂e / m²)
PCAF Real Estate Database
103
Sustainability Statement 2024, Banca Transilvania Financial Group
Motor vehicle loans
Estimate based on
distance traveled and
vehicle-specific
emission factors
Total emissions =
Distance traveled ×
Emissions per
kilometer (gCO₂) /
10⁶
European Environment Agency (EEA)
Calculation of financed emissions
Financed emissions represent the share of the counterparties’ total emissions that can be
attributed to the Group’s financing. They are determined by applying the attribution factor,
which reflects the proportion of the Group’s exposure relative to the total value of the
counterparty or the financed asset.
The rules used for calculating financed emissions are presented in the table below.
Scenario
Calculation method
Formula / approach applied
Attribution factor > 1
Financed emissions are capped at the level
of the counterparty’s total emissions
Financed emissions =
Total emissions
Attribution factor ≤ 1
Financed emissions are calculated
proportionally to the Group’s exposure
Finaced emissions =
Total emissions ×
Attribution factor
Attribution factor = 0 or total
emissions unavailable
An average emissions intensity determined
at the level of the asset class and
economic sector is used
Estimated financed emissions =
Average intensity ×
Exposure
In cases where the attribution factor is zero or cannot be determined due to the
unavailability of necessary information, as well as in cases where the counterparty’s total
emissions are not available, the Group uses an average emissions intensity calculated at
the level of the relevant asset class and economic sector.
This average intensity is determined as the ratio of the total estimated financed emissions
for exposures in the same asset class and economic sector to the total value of on-balance-
sheet exposures related to these categories.
Applying this approach allows for the estimation of financed emissions for exposures for
which individual data are not available, while ensuring methodological consistency and
comparability of estimates across the entire portfolio.
Data Quality Score (DQS)
To assess the quality of the data used in calculating financed emissions, the Group applies
the Data Quality Score (DQS) indicator, in accordance with the PCAF methodology. This
indicator reflects the degree of reliability and granularity of the data used in estimating
emissions and allows for the assessment of the level of uncertainty associated with the
reported results.
104
Sustainability Statement 2024, Banca Transilvania Financial Group
The DQS is expressed on a scale where lower values indicate higher data quality, and higher
values reflect the use of estimates based on proxies or sectoral factors. In general,
emissions data reported directly by counterparties and independently verified are
considered to be of the highest quality, while estimates based on sectoral intensity factors
or average values imply a higher degree of uncertainty.
The publication of DQS scores provides users of the report with insight into the degree of
confidence that can be placed in the reported financed emissions and allows for a better
understanding of the methodological limitations associated with them. At the same time,
the indicator is used by the Group as a tool for the continuous improvement of data quality
Within the Group, DQS scores are assigned to different asset classes as follows:
DQS Score
Exposure type / estimation method
2
Emissions reported directly by counterparties in public reports; sovereign bonds
3
Residential and commercial real estate loans
4
Business loans, debt and equity instruments
5
Motor vehicle loans
5.1
Exposures for which financed emissions are estimated using asset class-level average
intensities
The diagram below illustrates the DQS score scale, where a lower score indicates higher
quality of the data used in the calculation of financed emissions.
Score 1
Audited GHG
emission data
or actual
primary energy
data sources
Score 2
Un-audited
GHG emission
data or actual
primary energy
data sources
Score 3
Average value
in industry or
peer group
Score 4
National or
regional proxies
Score 5
Estimated
values with
limited data
basis
105
Sustainability Statement 2024, Banca Transilvania Financial Group
Assumptions, limitations, and professional judgments
The estimation of financed emissions involves the use of methodological assumptions and
estimates based on the available data regarding the economic activity and emissions of
financed counterparties. The calculation is performed based on the recommendations of
the PCAF methodology, but in certain situations involves the use of proxies and sectoral
intensity factors.
Availability and quality of data
The availability of greenhouse gas emissions data reported by counterparties remains
limited, especially for companies that are not subject to sustainability reporting obligations.
In these situations, the Group uses estimates based on emission intensity factors derived
from economic models and sectoral databases.
In addition, there is inherently a time lag between the financed emissions reporting period
and the period to which the counterparties’ financial data relate, because companies’
financial and sustainability information is published with a delay relative to the reporting
date of financial institutions.
Use of estimated emission factors
In estimating emissions for corporate counterparties, the Group uses intensity factors
derived from the EXIOBASE database, which is based on historical series and sectoral
classifications used at the time the model was built. In order to apply these factors to the
portfolio reported starting with 2025, exposures classified in internal systems in
accordance with NACE Rev. 2.1 were transposed into NACE Rev. 2, using the statistical
correspondences between the two classifications. This conversion involves the use of
methodological judgement and reflects the inherent limitations associated with the use of
EE-MRIO macroeconomic databases.
Assumptions used for certain asset classes
For certain types of exposures, the estimation of emissions involves the use of
standardized assumptions when specific data are not available.
For commercial and residential real estate loans, where information regarding usable floor
area or the energy performance of buildings is not available, standardised values are used,
namely an estimated usable floor area of 70 m² and an EPC energy classification of C.
In the case of car loans, the estimation of emissions is based on a standardised vehicle
travel distance of 50,000 km, as well as on emission factors specific to the vehicle type
taken from the European Environment Agency database. For electric vehicles, emissions
are estimated based on the vehicle’s electricity consumption and the emission intensity
106
Sustainability Statement 2024, Banca Transilvania Financial Group
associated with electricity generation at national level, using an estimated average
consumption of 15.5 kWh per 100 km.
Methodological limitations regarding certain types of exposures
In the case of project finance, the PCAF methodology recommends the use of detailed
information regarding the project’s capital structure. In situations where such information is
not systematically available, the Group applies the same methodology used for business
loans to determine the attribution factor.
This approach allows the maintenance of methodological consistency at portfolio level;
however, it may lead to less precise estimates for certain individual projects.
Professional Judgment Applied
The application of the PCAF methodology involves the use of professional judgment in
selecting data sources, choosing the proxies used to determine attribution factors, and
estimating emissions for exposures for which individual data are not available.
For example, for listed corporate exposures for which the Enterprise Value Including Cash
(EVIC) indicator is not available, the Group uses as a proxy the sum of the counterparty’s
total liabilities and equity.
Presentation of Results
Based on the described methodology, the Group estimates the financed emissions
associated with the loan and investment portfolio using the principles and formulas
recommended by the PCAF methodological framework, adapted according to data
availability and the specific characteristics of each asset class.
The table below presents the results of these estimates, broken down by main asset
classes and by economic sectors for the Business Loans category, including the level of
exposures covered by the analysis, the associated financed emissions (Scope 1 + Scope 2
and downstream Scope 3), the emissions intensity, and the weighted average data quality
score (DQS). The information is presented for the reference date of 31 December 2025,
and, for comparison purposes, for 31 December 2024.
107
Sustainability Statement 2024, Banca Transilvania Financial Group
Asset class/Activity
Balance of
covered
exposures and
investments
(million RON)
Balance of
covered
exposures and
investments
(million RON)
Emissions
Scope 1+
Scope 2
(tCO₂e)
Emissions
Scope 1+
Scope 2
(tCO₂e)
Emissions
Scope 3
upstream
Emissions
Scope 3
upstream
Total
financed
emissions
(tCO₂e)
Total
financed
emissions
(tCO₂e)
Emissions
Intensity
Scope1+Scope2
(tCO₂e/mil. RON)
Emissions
Intensity
Scope1+Scope2
(tCO₂e/mil. RON)
Emissions
Intensity
Scope3
upstream
(tCO₂e/mil. RON)
Emissions
Intensity
Scope3
upstream
(tCO₂e/mil. RON)
Weighted
average data
quality score
(DQS)
Weighted
average data
quality score
(DQS)
2025
2024(*)
2025
2024(*)
2025
2024(*)
2025
2024(*)
2025
2024(*)
2025
2024(*)
2025
2024(*)
Business Loans
36,035
35,281
1,863,646
1,879,504
2,977,974
0
4,841,620
1,879,504
51.72
53.27
82.64
0
4.00
4.10
A. Agriculture, forestry,
and fishing
5,602
5,426
662,717
624,767
372,925
0
1,035,642
624,767
118.29
115.14
66.57
0
4.12
4.21
B. Mining and Quarrying
149
124
43,192
15,748
17,297
0
60,498
15,748
290.33
127.23
116.27
0
3.94
4.19
C. Manufacturing
5,616
5,920
264,320
475,935
739,123
0
1,003,443
475,935
47.06
80.39
131.60
0
3.91
3.87
D. Electricity, gas, steam
and air conditioning
supply
1,221
1,131
321,702
153,770
125,837
0
447,539
153,770
263.39
135.99
103.03
0
4.33
4.37
E. Water supply;
sewerage, waste
management and
remediation activities
355
328
118,916
88,097
38,921
0
157,837
88,097
335.07
268.95
109.67
0
3.99
4.08
F. Construction
3,160
3,233
70,257
83,825
404,204
0
474,461
83,825
22.23
25.93
127.90
0
4.01
4.13
G. Wholesale and retail
trade; repair of motor
vehicles and motorcycles
9,502
9,414
96,238
49,834
562,281
0
658,519
49,834
10.13
5.29
59.18
0
3.82
4.03
H. Transportation and
Storage
3,086
2,791
81,768
213,946
187,774
0
269,542
213,946
26.49
76.65
60.84
0
3.76
4.05
I. Accommodation and
food service activities
1,186
1,005
61,716
11,775
248,123
0
309,838
11,775
52.05
11.72
209.26
0
4.05
4.06
J. Information and
communications
822
397
9,151
3,356
35,605
0
44,755
3,356
11.13
8.46
43.29
0
4.01
4.04
K. Financial and insurance
activities
906
1,172
41,930
49,511
32,807
0
74,738
49,511
46.28
42.24
36.21
0
4.87
4.90
L. Real estate activities
608
807
1,181
4,197
1,966
0
3,147
4,197
1.94
5.20
3.23
0
4.02
4.22
M. Professional, scientific,
and technical activities
960
846
27,061
21,046
48,298
0
75,358
21,046
28.17
24.88
50.29
0
4.06
4.09
N. Administrative and
support service activities
743
630
7,873
17,870
27,848
0
35,721
17,870
10.60
28.37
37.49
0
4.04
4.14
O. Public administration
and defense; compulsory
social security
6
2
249
81
361
0
610
81
39.91
37.21
57.77
0
4.78
4.46
P.Education
103
86
1,208
15,307
2,533
0
3,742
15,307
11.68
177.80
24.48
0
4.07
4.08
Q. Human health and
social work activities
1,420
1,204
28,145
32,662
85,314
0
113,458
32,662
19.82
27.14
60.08
0
4.24
4.27
R. Arts, entertainment,
and recreation
240
571
11,903
9,165
18,791
0
30,694
9,165
49.46
16.04
78.36
0
5.04
4.04
S. Other service activities
345
194
13,965
8,558
27,722
0
41,687
8,558
40.42
44.22
80.24
0
4.67
4.22
T. Activities of households
as employers;
undifferentiated goods-
and services-producing
activities of households
for own use
3
1
146
51
229
0
375
51
52.39
57.58
82.34
0
5.10
5.10
U. Activities of
extraterritorial
organisations and bodies
0
0
9
0
15
0
24
0
50.46
57.36
82.08
0
5.10
5.10
Project Finance
11,537
7,622
288,827
117,294
717,716
0
1,006,543
117,294
25.03
15.39
62.21
0
3.76
4.13
Mortgages
18,981
18,678
113,379
119,346
0
0
113,379
119,346
5.97
6.39
0.00
0
3.01
3.00
Commercial Real Estate
1,944
1,783
31,423
63,522
0
0
31,423
63,522
16.17
35.62
0.00
0
3.00
3.00
Motor Vehicle Loans
5,982
5,359
224,049
310,445
0
0
224,049
310,445
37.45
57.92
0.00
0
5.00
5.00
Corporate Bonds
4,764
5,648
2,226
7,818
9,693
0
11,919
7,818
0.47
1.38
2.03
0
3.77
3.73
Listed equity
1,055
799
792
1,894
2,975
0
3,767
1,894
0.75
2.37
2.82
0
3.29
3.62
Sovereign Debt
72,464
69,717
1,903,289
1,946,602
0
0
1,903,289
1,946,602
26.27
27.92
0.00
0
2.23
2.00
Total
152,763
144,888
4,427,631
4,446,425
3,708,358
0
8,135,989
4,446,425
28.98
30.69
24.28
0
3.03
2.95
(*)Comparative figures for 2024 have been restated, and detailed information regarding the restatement is presented in the following table
108
Sustainability Statement 2024, Banca Transilvania Financial Group
Restated figures for Category 15 – Scope 3, as of December 31, 2024
Active
Balance of covered
exposures and
investments in the
prior period
(RON)
Balance of covered
exposures and
investments in the
prior period –
Restated amount
(RON)
Difference
Financed emissions
for the previous period
(tone CO₂)
Financed emissions
for the previous period
– restated value
(tone CO₂)*
Difference
Emissions
intensity for the
previous period
(tCO₂ / mil. lei)
Emissions intensity for
the previous period –
restated value
(tCO₂ / mil. lei)
Difference
Business Loans
35,561,288,131
35,281,187,649
(280,100,482)
1,742,889
1,879,504
(136,615)
49.01
53.27
4.26
Commercial Real Estate
1,490,052,605
1,783,451,553
293,398,948
57,430
63,522
(6,091)
38.54
35.62
(2.93)
Mortgages
18,677,649,093
18,677,649,093
-
120,383
119,346
1,037
6.45
6.39
(0.06)
Project Finance
7,622,360,474
7,622,360,474
-
81,830
117,294
(35,464)
10.74
15.39
4.65
Motor Vehicle Loans
5,372,742,696
5,359,444,229
(13,298,467)
311,201
310,445
756
57.92
57.92
0.00
Corporate Bonds
5,648,302,466
5,648,302,466
-
7,818
7,818
-
1.38
1.38
-
Listed Equity
799,014,722
799,014,722
-
1,894
1,894
-
2.37
2.37
-
Sovereign Debt
69,717.042,741
69,717,042,741
-
1,946,602
1,946,602
-
27.92
27.92
-
Grand Total
144,888,452,928
144,888,452,928
-
4,270,048
4,446,425
(176,378)
29.47
30.69
1.22
*Restated comparative figure, taking into account adjustments related to corrections resulting from NACE code mapping, as well as other
methodological adjustments resulting from improvements in data collection and processing, including corrections regarding the classification
of exposures between loans for business activities (business loans) and loans secured by commercial real estate (ESRS 1 c).
The variations recorded between the current reporting period (2025) and the comparative
period (2024) reflect both developments in the exposure portfolio and improvements in the
methodological framework used to estimate financed emissions.
The increase in total emissions is primarily driven by the update of the model for estimating
indirect emissions, including the use of revised emission factors and the development of a
calculation framework for Scope 2 and Scope 3, applicable in situations where data
reported by counterparties is not available. These methodological improvements have
enabled the expansion of estimates to the portfolio level, including the inclusion of Scope
3 upstream emissions related to business loans and project finance, for which estimates
were not available in the previous period.
This development primarily reflects an increase in the coverage and level of detail of the
estimates and does not directly indicate a change in the climate profile of the exposures.
At the same time, the update of the emission factors used to estimate Scope 1 emissions
(by using factors derived from the EXIOBASE database for certain segments), as well as
the improvement of the process for mapping exposures to PCAF categories and the
alignment of sectoral classification with NACE Rev. 2, further contribute to the observed
variations.
Differences at the sectoral level are also influenced by changes in the volume and structure
of the portfolio, including increases in exposures in certain high-emission sectors.
In this context, comparability between the two periods is limited, and the variations should
be interpreted primarily as the result of methodological refinements and an expansion of
the coverage of the estimates.
109
Sustainability Statement 2024, Banca Transilvania Financial Group
E1-2 Policies related to climate change mitigation and adaptation
Analysis of the physical and transition climate risks to which BT clients’ funded
activities and projects are exposed
Climate change continues to be one of the most pressing global challenges, with significant
implications for the economy, the environment, and society. As part of the 2025 double
materiality analysis, all three sub-themes related to climate change, namely climate change
mitigation, climate change adaptation, and energy, were confirmed as material for BT
Group, both from the perspective of the direct impact of its own operations (climate change
mitigation and energy) and the indirect impact generated through its lending portfolio, as
well as from the perspective of associated financial risks and opportunities, including
through the lens of growing demand for sustainable financing products and solutions.
From the perspective of its own operations, the Group’s impact manifests itself through
greenhouse gas emissions, generated primarily from the consumption of electricity and
heat and from the use of vehicles for transportation. The indirect impact generated through
the financing portfolio manifests itself both positively and negatively. Lending to climate
change adaptation projects and financing renewable energy contributes to climate change
mitigation, while financing sectors such as mixed farming, construction, or manufacturing
can have a negative environmental impact in the absence of adequate emission reduction
measures.
Financing sectors exposed to physical climate risks, such as agriculture, construction, or
transportation, may affect the repayment capacity of financed companies in the context of
intensifying extreme weather events. At the same time, reliance on high-carbon energy
sources creates transition risks through exposure to increasingly stringent regulations and
pressure to reduce emissions. In terms of our own operations, extreme weather events and
changes in the regulatory framework can lead to higher operational costs and reputational
risks.
The transition to a low-carbon economy also creates significant opportunities for the Group
through the financing of renewable energy projects, electric vehicle infrastructure,
sustainable construction, and energy efficiency solutions. By developing financial products
tailored to these sectors, the Group can strengthen its position in the field of sustainable
finance and contribute to the transition toward a greener economy, generating long-term
value for customers, shareholders, and the community.
In this context, integrating climate criteria into the decision to grant financing is essential.
An important element in the lending process is ESG risk analysis.
110
Sustainability Statement 2024, Banca Transilvania Financial Group
ESG Analysis Workflow
ESG analysis is conducted using five distinct analysis forms, applicable to clients based on
the proposed exposure. The complexity of the forms increases primarily with the client’s
exposure and size (ranging from a simplified form containing questions regarding
compliance with legal requirements on ESG, labor, and environmental protection, to a
detailed form covering a wide range of topics, including aspects related to the company’s
exposure to climate risks, waste management processes, measures to improve
consumption, energy efficiency, and others).
At the BT Group level, Banca Transilvania’s subsidiaries adopt Banca Transilvania’s model
and develop and implement their own ESG policies, regulations, and standards. The table
below shows the status of subsidiaries that have adopted a policy or standard for managing
ESG risks.
Entity
Type of document
developed
Brief description
BT Microfinanțare IFN S.A.
Internal standard on ESG
risk analysis
Regulates the ESG analysis
process adopted by BT Mic
BT Asset Management S.A.I S.A.
Sustainability Policy
Governs ESG aspects applicable
at the company level
BT Direct IFN S.A.
Rules of Procedure for the
Environmental (ESG)
Committee
Regulates the duties of the ESG
Committee established at the
subsidiary level
BT Leasing
Internal Policy on
Environmental and Social
Risk Analysis
Regulates the ESG analysis
process applicable at the
subsidiary level
BT Pensii SAFPF S.A.
Policy on the assessment
of good governance
practices of investee
companies
Regulates the criteria applied
regarding the corporate
governance practices of investee
companies
111
Sustainability Statement 2024, Banca Transilvania Financial Group
Scope of application of policies and exclusions
Both the corporate lending policy and the ESG analysis workflow apply to all corporate
clients of Banca Transilvania. However, certain categories of financial products, such as
financing provided through corporate credit cards, are exempt from the ESG analysis. The
ESG Analysis Framework also defines the conditions for ESG approval (exposure value,
inherent environmental risks, and other legal criteria, such as the need to obtain an
environmental permit to conduct business).
The complex forms contain at least 14 questions covering environmental, social, and
governance criteria, which clients are asked to answer. The complexity of the forms is
determined by the requested exposure amount and the client’s inherent environmental risk.
Inherent environmental risk is calculated based on the client’s industry sector (NACE code),
and for climate risk, the client’s geographic location is also taken into account.
The forms are used to collect information on the measures implemented by clients to
manage ESG issues, such as pollution and measures implemented to mitigate/reduce it, the
recording of penalties, waste and energy resource management, as well as occupational
safety and health issues and governance policies implemented. The forms are updated
periodically to meet legal requirements and stakeholder expectations.
At the subsidiary level, each entity decides how to implement and apply the ESG risk
assessment procedure for its own clients, based on recommendations made by Banca
Transilvania’s ESG risk analysis department.
BT Mic has also implemented an ESG risk assessment form, applicable in particular to
companies with a high environmental risk, through which compliance with legislative
regulations such as the existence of an environmental permit and compliance with ISU
standards, waste management, climate risk impact, any anti-discrimination policies, and
the governance experience of management bodies, is verified. Additionally, Victoria Bank
has implemented the ESG Policy and integrated a simplified version of the ESG risk
assessment form, while BT Leasing has implemented an internal policy, integrated the list
of excluded activities, and developed an ESG scoring sheet to quantify the results of the
ESG analysis of clients.
Banca Transilvania’s corporate lending policy is approved by the Leaders’ Committee, and
all departments involved are responsible for implementing and enforcing the policy. The
ESG Analysis Workflow is approved by the Executive Director of the Corporate Credit Risk
Department, and it is the responsibility of the ESG Risk Analysis Department to ensure its
implementation.
The policies, regulations, and internal rules implemented at the level of each subsidiary are
reviewed and approved by the boards of directors and the CEOs of the subsidiaries.
Both the Corporate Lending Policy and the ESG Analysis Workflow are based on the
recommendations and guidelines of international partners EBRD and IFC, and the ESG
112
Sustainability Statement 2024, Banca Transilvania Financial Group
analysis forms are updated in accordance with legislative requirements to facilitate the
collection of relevant information.
The ESG policies and procedures implemented and applied at the subsidiaries of the
financial group are based on the recommendations of Banca Transilvania, as well as those
of international partners. The aim is to align the measures implemented at the Group level
as much as possible, to streamline the information collection process and ensure data
comparability.
Neither the Policy nor the Flow are intended for public disclosure; they are made available
to employees, Group entities, and stakeholders to whom the Bank has a reporting
obligation.
Implementation of the policy
Through responses to ESG forms and the results of the ESG analysis, the Bank monitors a
range of sustainability factors relevant to clients’ risk profiles, including waste management
and resource consumption, energy efficiency measures, the environmental impact of
activities, employee rights, reporting of workplace accidents, and corporate governance
policies.
Thus, based on the responses provided via the forms, each client is assigned an ESG score
and an ESG risk level, rated on a scale from very low to very high. The risk opinion is the
document containing the ESG risk analyst’s final assessment of the client’s operations
and/or the financed project, as applicable. Depending on the risk opinion, ESG risk analysts
may make recommendations for performance improvement.
To reinforce efforts toward conducting a comprehensive and accurate ESG analysis,
relevant staff (relationship managers, branch managers, credit and risk analysts) receive
regular training on the application of the Credit Policy and the ESG Analysis workflow.
⁙ ⁙ ⁙
In 2025, a total of 1,162 employees were trained through the internal course
developed for ESG risk analysis of financed clients (84 more than in 2024).
Training for staff in the ESG risk analysis department is conducted annually through various
specialized external institutions and organizations. Based on the needs of each risk analyst,
optimal training courses and programs have been established to support professional
development.
⁙ ⁙ ⁙
In 2025, the entire department, along with other relevant functions, participated in
the Investment and Development Bank (BID) course on DNSH analysis.
113
Sustainability Statement 2024, Banca Transilvania Financial Group
At the BT Group level, each subsidiary determines the training plan and the courses its
employees must attend. Banca Transilvania provides training and guidance to its
subsidiaries through the ESG Risk Analysis Department, as well as other relevant
departments, such as the Green Loans Department.
The Bank also carries out initiatives dedicated to supporting and guiding corporate clients
in implementing and maintaining measures to improve ESG performance. To this end,
courses and workshops are organized in various locations across the country, promoting
topics such as energy efficiency, and clients have the opportunity to connect with
specialized companies that can offer them services and solutions tailored to their needs.
⁙ ⁙ ⁙
In 2025, two events were organized: Industry in Transition, held in Cluj-Napoca in
partnership with Servelect, dedicated to the development and implementation of
decarbonization plans and to promoting the importance of industrial
decarbonization; and the VSME event for SMEs: Dialogues on Sustainability, Risk,
and the Future, which aimed to promote the importance of voluntary sustainability
reporting for SME clients.
Effectiveness of Policies
The effectiveness of the policies and procedures applied by the Bank in assessing clients’
ESG performance is reflected, among other things, in the evolution of credit risk indicators,
particularly in the non-performing loan (NPL) ratio within the corporate client portfolio.
Integrating ESG analysis into the risk assessment process contributes to a better
understanding of clients’ risk profiles and the early identification of potential vulnerabilities.
Climate Risk Analysis
The process of analyzing climate and transition risks begins with determining the level of
risk associated with the client’s business activities. To determine this risk level, the Bank
has developed an internal tool based on historical data available in public databases.
Physical climate risks are assessed based on factors such as wind speed, temperature,
precipitation, and seismic risk, while climate transition risks are assessed based on CO₂
emissions, as well as legislative, technological, market, and reputational risks. For both
types of risks, both the company’s operations and the geographic location of the activity
or funded project at the county level are taken into account. This allows for the
differentiation of two or more companies engaged in the same activity but in different
locations. For example, the inherent risk associated with cereal cultivation in Galați County
is considered “very high,” while for the same activity carried out in Cluj County, the physical
climate risk is considered “medium.”
114
Sustainability Statement 2024, Banca Transilvania Financial Group
The final level of physical and transition climate risk is determined by analyzing the
responses clients provide via the ESG risk forms. Four of the five ESG risk assessment forms
contain at least one question regarding the activity’s exposure to physical and transition
climate risks, as well as how the impacts generated by this exposure are managed. Only
qualitative information is currently collected, but the process is set to be developed to also
allow for the collection of quantitative information.
In the forms used to assess the ESG risk of corporate clients, clients are asked to provide
information regarding the impact that physical and transition climate risks may have on their
business operations. The forms also include a field for details, where clients can describe
the measures implemented to manage these risks. Questions are also included regarding
the existence of plans to monitor, reduce, or improve resource consumption, as well as the
energy sources used.
For clients engaged in activities with a higher environmental impact, the forms request
additional information with a higher level of detail. In addition to the questions mentioned
above, the forms include questions regarding the calculation of greenhouse gas emissions,
the monitoring of ESG indicators, the preparation of a sustainability report, measures
implemented to increase energy efficiency, as well as aspects related to water
consumption.
Following the evaluation of the client’s response via the form, the ESG risk analyst
determines the final physical and transition climate risk by adjusting the implied risk upward
or downward.
Banca Transilvania’s corporate clients are informed from the early stages of the lending
process regarding the non-financial information the bank collects as part of the ESG
analysis. This approach allows clients to understand in advance the assessment
requirements and the type of information relevant to the sustainability risk analysis.
Currently, no specific sustainability objectives, such as targets for reducing greenhouse
gas emissions, are established in our client relationships. However, as part of the ESG
analysis process, recommendations may be made to clients regarding the improvement of
their sustainability performance, and the potential implementation of these
recommendations may be monitored throughout the lending relationship.
Furthermore, in accordance with the Bank’s Exclusion List, financing may be denied in
situations where a client’s business activities fall within sectors excluded from financing. In
such cases, the client is promptly informed of the decision to reject the credit application.
The portfolio distribution across each physical and transition climate risk class is presented
in the table in the ESG Risk Analysis section of Chapter 3.3. Sustainable Financing.
115
Sustainability Statement 2024, Banca Transilvania Financial Group
2.3 Circular Economy
The double materiality analysis conducted at the Banca Transilvania Group level identified
the theme of resources and the circular economy (E5) as material from the perspective of
indirect impact generated through the loan portfolio. Given that the Group’s activities
consist primarily of financial services, lending, investments, and fund management, without
industrial or production processes involving high resource intensity, the direct impact on
resource use and waste generation is limited. Material aspects related to the circular
economy are thus manifested in how the financed activities/projects manage resource
inputs and generate waste, as well as through the structure of the financing portfolio.
The management of risks and opportunities associated with this theme is integrated into
the Group’s internal regulatory framework and is carried out through the documents and
processes governing lending activities and ESG analysis, namely the Corporate Lending
Policy, the ESG analysis workflow, and the internal instruction on sustainable financing
Portfolio-related risks
Risks associated with the circular economy manifest primarily through exposures in the
lending portfolio. Inefficient waste management in certain economic sectors can generate
environmental risks with the potential to materialize into financial risks for the institution.
These risks may arise particularly in sectors such as agriculture, manufacturing,
construction, trade, transportation and storage, as well as real estate transactions, where
operational activities may involve the generation and management of significant volumes
of waste. Inappropriate practices regarding the handling or disposal of waste, including
chemicals, fuels, or waste resulting from construction and demolition, can lead to
environmental contamination, inefficient use of resources, and increased greenhouse gas
emissions.
These situations may generate additional costs for financed companies associated with
regulatory compliance or the remediation of environmental impacts, which may affect
financial performance and clients’ repayment capacity. For the Group, the materiality of
these issues is reflected primarily in credit risks and, to a lesser extent, in reputational risks.
Risk Assessment and Management
The assessment of risks associated with the circular economy is carried out through an
integrated analysis of credit risk, operational risk, and reputational risk.
From a credit risk perspective, a sensitivity analysis was applied to the corporate loan
portfolio, using assumptions regarding variations in the default rate based on the client’s
ESG risk profile. More conservative scenarios were used for clients classified in high or very
high environmental risk categories. The sectors with more relevant exposures identified in
this context include construction, wholesale trade, manufacturing, and agriculture.
116
Sustainability Statement 2024, Banca Transilvania Financial Group
The results of the analysis indicate, as of the reporting date, a low level of aggregate risk
at the portfolio level. At the same time, the relevance of this issue is monitored in the
context of developments in the European and national regulatory framework regarding
waste management and resource use. The internal Heat Map Tool used to assess
environmental risks at the sectoral level is updated periodically to reflect developments in
the environmental regulatory framework.
To manage exposures in the credit portfolio associated with these risks, aspects related to
resource use and waste management are integrated into the ESG analysis process applied
to financing provided to corporate clients. As part of this process, clients’ environmental
practices are assessed, including waste management, resource use, and compliance with
applicable regulations. The results of the assessment are reflected in the client’s ESG risk
profile and are integrated into the financing analysis and approval process. Depending on
the level of identified risks, the ESG assessment may lead to the establishment of specific
financing conditions or additional monitoring requirements. The identification of significant
deficiencies regarding compliance with environmental requirements may lead to a re-
evaluation of the ESG analysis and a reassessment of the client’s risk profile.
Integrating the circular economy into ESG risk analysis
The assessment of aspects related to the circular economy is conducted as part of the ESG
analysis process applied to financing granted to corporate clients based on assessment
forms. The forms include questions regarding waste management and recovery, the
existence of environmental permits, and other specific environmental factors.
At the same time, the Bank monitors developments in the European and national regulatory
framework regarding waste management and resource use, including the EU Regulation on
packaging and packaging waste and the national recycling targets for the period 2025–
2030.
Client risks from the perspective of the circular economy (waste management and
recovery, resource use, compliance with packaging regulations) are classified under
environmental risk, and the portfolio distribution across each risk class is presented in the
table in the ESG Risk Analysis section of Chapter 3.3. Sustainable financing.
Financing Opportunities
The double materiality analysis highlighted the circular economy theme from the
perspective of opportunities associated with the financing portfolio, with an estimated
materialization horizon primarily in the medium and long term.
The transition to economic models based on resource efficiency, together with the
evolution of the European regulatory framework, is generating demand for investments in
recycling technologies, material efficiency, and supply chain traceability. Developments in
the European regulatory framework on the circular economy, including initiatives such as
117
Sustainability Statement 2024, Banca Transilvania Financial Group
the Circular Economy Action Plan, the Ecodesign Regulation for Sustainable Products
(ESPR), and the proposed Green Claims Directive, are helping to strengthen requirements
regarding product sustainability, the use of recycled materials, and supply chain
transparency.
These developments generate investment needs for the modernization of industrial
processes and the development of recycling infrastructure, creating financing
opportunities for financial institutions that support the transition to the circular economy.
Financing the Circular Economy
At the operational level, financing for projects related to the circular economy is provided
through the Special Environmental Financing (FSM) category, as defined in the internal
guidelines on sustainable financing. This category includes financing granted for
investments that contribute to waste prevention, recycling and material recovery, or
increasing resource efficiency in production processes.
In 2025, the volume of special environmental financing granted to companies reached
320.5 million RON, compared to 182.0 million RON in 2024, representing a 76.1% increase.
At the portfolio level, the balance of this category of financing reached 269.1 million RON
as of December 31, 2025, up 127.9% from the previous year.
During 2025, the Bank financed projects related to the circular economy that primarily
focused on the development and modernization of waste recycling and recovery
infrastructure, including investments in facilities dedicated to the recycling of plastic,
textile, and waste electrical and electronic equipment (WEEE), as well as the modernization
of technological capacities for sorting, grinding, and processing recovered materials. Some
of these projects received co-financing through the National Recovery and Resilience P e
(PNRR). Additional information on the financed projects and their impact is presented in
Chapter 3.3 Sustainable Financing.
Funding in this category contributes to Sustainable Development Goal No. 12 - Responsible
Consumption and Production, and is integrated into the Group’s strategic objective of
granting 5 billion RON in green loans validated according to the CAFI methodology for the
period 2025–2027.
Planned Actions
The planned actions related to the circular economy are structured around three main
areas.
The first direction aims to improve ESG data collection by updating the forms used in the
ESG analysis process. In 2025, a process to revise the ESG analysis forms was initiated.
The updated version, applicable starting in 2026, includes additional questions regarding
the use of recycled, reused, or certified raw materials.
118
Sustainability Statement 2024, Banca Transilvania Financial Group
The second direction focuses on continuing to provide financing under the Special
Environmental Financing category, intended for investments that contribute to waste
recycling and recovery and to the efficient use of resources.
The third direction focuses on monitoring developments in the European regulatory
framework to adapt credit risk assessments for economic sectors exposed to regulatory
changes.
Targets
As of the reporting date, the Bank had not established specific quantitative targets
regarding the circular economy at the customer portfolio level, primarily due to the limited
availability of the granular data needed to define measurable indicators.
However, the Group’s ESG strategy for the 2025–2027 period includes the objective of
granting 5 billion RON in green loans, within which the Special Environmental Financing
category represents a significant component.
As the updated ESG forms will enable the systematic collection of quantitative data on
clients’ circular economy practices, the Bank intends to develop a framework of indicators
and targets specific to this topic.
119
Sustainability Statement 2024, Banca Transilvania Financial Group
3. Social Information
3.1 The BT Group Team
Employees are the driving force behind the BT Group’s development and performance,
serving as a key element of its sustainable growth strategy. In a dynamic financial
environment, the Group constantly invests in the professional development, well-being, and
diversity of its team, ensuring an inclusive, fair, and motivating work environment. The BT
Group’s organizational culture is built on principles of collaboration, innovation, and
responsibility, promoting both operational excellence and positive employee experience.
The implementation of continuous training programs, well-being initiatives, and human
resources policies tailored to the current context actively contributes to strengthening the
professional competencies, internal cohesion, and the team’s level of engagement in
achieving the Group’s strategic objectives.
Employee Structure and Characteristics
⁙ ⁙ ⁙
In December 2025, BT Group reached a total of 14,379 employees, of whom 72%
were female and 28% were male. At the same time, the average number of
employees was 14,076.
As of December 31, 2025, the share of employees in the Group entities operating in the
Republic of Moldova was approximately 13% of the total number of employees at the Group
level.
Total number of
employees
2025
2024
Women
Men
Total
Women
Men
Total
BT Group
10,393
3,986
14,379
10,676
3,993
14,669
Of which in RO
8,963
3,547
12,510
9,572
3,662
13,234
Of which in MD
1,430
439
1,869
1,104
331
1,435
Type of employees
2025
2024
Women
Men
Total
Women
Men
Total
Number of permanent employees
9,704
3,755
13,495
9,837
3,747
13,584
Number of temporary employees
689
231
920
839
246
1,085
Number of employees with non-
guaranteed working hours
0
0
0
0
0
0
Number of full-time employees
10,208
3,928
14,136
10,532
3,934
14,466
Number of part-time employees
185
58
243
144
59
203
120
Sustainability Statement 2024, Banca Transilvania Financial Group
Moldova
România
Total
Group
2025
Moldova
România
Total
Group
2025
Total percentage of employees
covered by collective bargaining
agreements
96.59%
99.30%
Percentage of own employees
covered by collective bargaining
agreements, within the coverage
rate for countries with a
significant level of employment (in
the EEA)
99.66%
99.57%
Percentage of own employees
covered by collective bargaining
agreements (outside the EEA) by
region
75.98%
96.38%
⁙ ⁙ ⁙
In 2025, the total number of employees that left the company was 2,219, with the
employee turnover rate reaching 15.43% (vs. 12.01% in 2024). The increase of
approximately 4 percentage points compared to the previous year is mainly
explained by the integration process resulting from the merger with OTP Bank.
In such organizational contexts, turnover is natural and temporary, driven by structural
harmonization processes, role overlaps, team realignment, and individual employee
decisions following organizational changes. Part of these leaves (829 people) came from
the employees integrated following the merger, in the context of operational alignment
processes.
Employees’ data was calculated based on Group employees' reports exported from the
internal systems. No estimates were used, and the number of employees was reported as
headcount. The average number of employees was obtained by analyzing staff fluctuations
during the reporting period and was calculated as the arithmetic mean of the number of
employees at the end of each quarter. Throughout the statement, both the indicator
regarding the number of employees at the end of the reporting period and the indicator
regarding the average number of employees during the reporting period were used, where
the calculation methodology requires it (e.g., staff turnover rate, average number of training
hours per employee, etc.).
121
Sustainability Statement 2024, Banca Transilvania Financial Group
Material impacts, risks, and opportunities and their interaction with the strategy and
business model
The double materiality analysis was conducted across the entire BT Group, and the process
of identifying and reporting impacts, risks, and opportunities relevant to human resources
aspects covered all Group employees. The information reflects a consolidated perspective
on how these aspects influence the Group’s strategy and business model.
The impacts identified regarding the Group’s own workforce reflect BT Group’s
commitment to ensuring a safe, fair, and inclusive work environment. Creating secure and
attractive jobs, supported by competitive wages, contributes to the economic stability of
employees and the development of local communities. In this context, collective bargaining
plays an essential role, providing a clear framework for employees’ rights and obligations,
with a positive impact on the stability and transparency of labor relations.
Another important aspect is the employees’ health and safety, supported by access to
medical services and benefits designed to provide long-term protection and stability. At
the same time, BT Group places special emphasis on training and skills development,
supporting the employees’ professional growth through dedicated programs, which are
essential for adapting to a dynamic business environment. Diversity and inclusion remain
priorities in the organizational culture, promoted through policies aimed at offering equal
opportunities and a work environment free from harassment or violence. These measures
contribute to fostering an environment based on respect and safety, with beneficial effects
on employees’ well-being and mental health.
At the same time, BT Group is aware that there are also potential negative impacts that
require monitoring and proactive measures to minimize them. Wage gaps and unequal
opportunities among employees based on gender can create inequities within the
organization, affecting motivation and perceptions of internal fairness. Furthermore,
violating employees’ right to privacy can negatively influence their satisfaction and trust in
their relationship with the employer. Through clear policies and concrete actions, the BT
Group aims to reduce the effects of these negative impacts and create a balanced,
transparent, and fair work environment for all employees.
The identified impacts can also generate material risks for the BT Group, both in terms of
its own operations and its relationships with upstream partners. Inadequate training and
education processes can leave employees without the skills needed to effectively fulfill
their roles, which can lead to decreased productivity, limited innovation, and, consequently,
negatively impact the company’s financial performance. This risk becomes even more
critical in the context of the need to adapt to digitalization and rapid market
transformations. In addition, data privacy and cybersecurity risks pose major challenges,
and any data breaches could compromise customers’ personal information, affecting their
trust and financial stability. Cyberattacks also have the potential to disrupt banking
operations, which could negatively impact the BT Group’s reputation and market position.
122
Sustainability Statement 2024, Banca Transilvania Financial Group
The opportunities identified regarding its workforce provide the BT Group with a
competitive advantage and support the development of a high-performing and inclusive
work environment. Offering attractive compensation packages strengthens the Bank’s
ability to attract and retain top talent, contributing both to improving its reputation and to
increasing financial performance. At the same time, supporting a healthy work-life balance
creates a positive organizational climate that boosts employee productivity and loyalty,
positioning BT as a trusted employer.
Investing in employees’ health and safety through prevention and wellness programs
reduces absenteeism and improves professional engagement, while also strengthening the
Bank’s image as a responsible employer. Furthermore, BT’s commitment to gender equality
and fair compensation demonstrates an inclusive approach that encourages diversity and
provides equal opportunities to all employees, thereby aligning with the principles of the
Diversity Charter.
Facilitating professional training and development represents another important
opportunity, supporting the employees’ growth and maintaining a highly competent level of
skills within the organization. These initiatives, integrated into a coherent Human Resources
Strategy, support workforce development and contribute to promoting a sustainable model
of growth and innovation within the BT Group.
Material impact on workers that may result from the transition to a green economy
The Group has not identified any material negative impact on its employees as a result of
the transition to a green economy. This is due to the implementation of training and
upskilling programs that support the workforce’s continuous adaptation to changes in the
financial and banking sector, particularly those driven by new regulatory requirements
regarding sustainability. These initiatives ensure that employees not only maintain their
professional relevance but also benefit from development opportunities in emerging fields,
such as managing ESG requirements and integrating sustainability principles into lending
policies.
⁙ ⁙ ⁙
Over 8,100 of the Group’s employees completed ESG-related trainings in 2025.
As financial institutions adopt more sustainable practices, new professional opportunities
are emerging, particularly in areas related to non-financial reporting, analyzing clients’
sustainability performance, and implementing the relevant regulatory framework. Rather
than leading to job losses, this transition offers prospects for internal mobility, and the
development of skills necessary in the context of the legislative changes.
To support these transformations, dedicated professional training programs are being
conducted to familiarize employees with new reporting requirements, ESG risk analysis,
and the impact of regulations on financial activities. At the same time, educational programs
123
Sustainability Statement 2024, Banca Transilvania Financial Group
are organized to raise awareness on sustainability, both among operational staff and the
management level. These measures contribute to the effective integration of new
compliance requirements, maintaining a stable work environment and providing employees
with the tools needed to proactively adapt to industry developments.
Supporting employees exposed to specific risks
BT Group pays special attention to those categories of employees who, due to their role or
level of experience, may be more vulnerable to operational pressure or specific
occupational risks. The approach is tailored to the context of each role.
For young professionals at the start of their careers, the onboarding period is supported by
mentoring programs, in which experienced colleagues provide ongoing guidance in
managing complex responsibilities and tasks. At the same time, training sessions are
organized to accelerate the development of technical skills and interpersonal abilities,
reducing the risk of operational errors and burnout.
Employees who handle cash benefit from a well-structured operational framework with
clear protocols for each type of activity, contributing to a safe and predictable environment.
Additionally, psychological support is available as needed, and this category of employees
receives two extra paid days off. In shopping centers, where the pace of work is intense,
training programs tailored to the specific nature of work are implemented, as well as
additional financial incentive schemes.
For front-office and call center teams, who may be exposed to stressful situations arising
from direct interaction with customers, clear mechanisms for managing difficult cases have
been established. Access to psychological support is part of the preventive measures
designed to reduce the risk of burnout and support the maintenance of a healthy work-life
balance.
124
Sustainability Statement 2024, Banca Transilvania Financial Group
Employees Relationship Governance and Policy Framework
Framework Policies
The Internal Rules of Procedure, the Equal Opportunity Policy, and the Collective Bargaining
Agreement are the main pillars of the regulatory framework governing labor relations within
the Group. These documents ensure transparency and fairness in compensation, facilitate
collective bargaining, and improvement of working conditions, as well as work-life balance.
They also include measures to prevent harassment and violence in the workplace,
promoting a safe and inclusive environment. By applying to the entire workforce, these
regulations contribute to an organizational climate based on respect, fairness, and
sustainable performance.
The Group’s human resources policies apply to all employees, regardless of position or type
of work performed, ensuring a unified and equitable framework at the organizational level.
In addition, certain specific policies and provisions are dedicated to leadership and top
management, given the strategic responsibilities and decision-making authority associated
with these roles.
Employees-focused policies form the foundation of the relationship between the company
and its team, ensuring a safe, fair, and consistent work environment. These policies are
designed to address relevant issues identified in internal analyses, helping to mitigate risks
and support the professional and personal development of employees. Through the
consistent application of these policies, an organizational environment based on
responsibility, respect, and collaboration is fostered, in line with the company’s
performance objectives and its commitment to its people.
Code of Ethics and Conduct
The Code of Ethics and Conduct establishes the principles governing professional behavior
within the company, emphasizing integrity, fairness, and mutual respect. The document
explicitly prohibits any form of harassment or discrimination and defines clear expectations
regarding conduct in workplace relationships. By applying these principles, a fair and
inclusive work environment is fostered, where equal opportunity is guaranteed, and every
employee has the opportunity to grow and contribute to the organization’s goals.
Remuneration Policy
Within the Group, the Employees Remuneration Policy governs the remuneration principles
and serves as the basis for developing remuneration policies across all Group subsidiaries.
The Remuneration Policy is built on the principle of equal treatment, ensuring equal pay for
the same work or for work of equal value, regardless of gender. At the same time, it
establishes a clear link between remuneration and performance through multi-year
125
Sustainability Statement 2024, Banca Transilvania Financial Group
evaluations and the inclusion of non-financial criteria, such as professional development,
compliance, and contribution to team performance. Customer interests are also integrated
into the evaluation criteria.
The Remuneration Policy is designed to support the sustainable development of the Bank
and the Group, in line with the strategic objectives and the principles of prudent risk
management. It aims to align the interests of employees and management with those of
shareholders and other stakeholders. In this context, the principles underlying the
remuneration policy within the BT Financial Group are:
• generating long-term performance;
• attracting and retaining the best professionals;
• rewarding the level of responsibility and professional track record;
• ensuring profitability within the BT Financial Group and its competitiveness;
• ensuring transparency regarding the compensation policy;
• respecting the interests of clients.
The main objectives of the policy are to encourage teamwork and strengthen cooperative
relationships among colleagues, ensure a direct correlation between compensation and
performance while respecting clients’ interests, and attract, retain, and motivate employees
in key positions, as defined in
the Policy on the Selection, Monitoring, Assessment and
Succession Planning at Banca Transilvania.
At the same time, the policy is designed to be
flexible, allowing for rapid adaptation to the Bank’s objectives, in full compliance with the
applicable legal requirements.
The Bank’s Remuneration Policy is endorsed by the CEO and approved by the Board of
Directors and is subject to an annual review and update process or whenever internal or
external factors require it. The review process aims to update the policy in line with the
changes in the banking sector, as well as the Bank’s short-, medium-, and long-term
objectives.
Each subsidiary has developed its own employee compensation policy in accordance with
applicable laws and regulations, based on the principles defined by the Bank’s policy.
Relevant commitments regarding human rights policies
The Group complies with the requirements of the International Labour Organization
Conventions ratified by Romania and transposed into the National Labour Code, with the
aim of ensuring a fair and equitable work environment based on diversity, inclusion, and
equal opportunity.
At the same time, the Bank’s policies are aligned with the UN Guiding Principles on Business
and Human Rights, including the principles and rights set forth in the eight fundamental
conventions identified in the International Labour Organization’s Declaration on
126
Sustainability Statement 2024, Banca Transilvania Financial Group
Fundamental Principles and Rights at Work and those set forth in the International Bill of
Human Rights.
Respect for fundamental rights is established through the internal framework, which clearly
regulates the basic principles regarding safe and fair working conditions. The Board of
Directors is responsible for approving these policies and ensuring they comply with legal
and ethical standards. The Human Resources Department, in coordination with the
Nomination Committee and the Remuneration Committee, is responsible for developing,
implementing, and updating the policies.
To verify compliance with working conditions, the Internal Audit Department assesses the
proper application of the policies. Regarding external audits, local labor authorities are
responsible for verifying compliance with applicable legislation.
Employees’ fundamental rights are also set forth in the Collective Bargaining Agreement
and are established in accordance with European legislation transposed into current
national law. This applies to all employees and provides for rights and benefits in addition
to those in the Labor Code.
At the same time, to ensure respect for employees’ right to work, the Bank has implemented
the Code of Ethics and Conduct, which defines the fundamental principles regarding
employee behavior and labor relations. Furthermore, the Policy on Promoting Diversity
within Banca Transilvania’s management body emphasizes the importance of a selection
process based on objective criteria and meritocracy, while also ensuring the prevention of
discrimination based on criteria such as race, color, gender, national origin, or sexual
orientation.
⁙ ⁙ ⁙
To uphold human rights and respond appropriately to situations where they are
affected, the Bank has implemented a governance framework aligned with the
robust principles required by its financing partners (IFC, EBRD), as well as an
effective mechanism for identification, monitoring, and remediation.
Whistleblower protection is ensured through the dedicated Whistlelink platform, a
confidential and secure channel for reporting irregularities:
https://bancatransilvania.whistlelink.com. Any retaliation against individuals who report
violations is prohibited and subject to disciplinary action. Reports follow a formal process
with clear deadlines: initial steps within a maximum of 15 business days at the level of the
HR Special Projects & Employee Relations Department, and, if necessary, a decision by the
Human Resources Committee within a maximum of 45 days. The parties may be assisted,
and serious situations may trigger a disciplinary investigation or confidential mediation.
127
Sustainability Statement 2024, Banca Transilvania Financial Group
Wage Adequacy
In both Romania and the Republic of Moldova, the two countries where the BT Group
operates, the appropriate minimum wage is regulated by the Labor Code and by
Government Decisions.
In Romania, Law 53/2003, as amended and supplemented (the Labor Code), regulates the
definition of the minimum wage. Each year, the Government issues a decision establishing
this threshold. For the year 2025, the gross minimum wage was set at 4,050 RON by
Government Decision No. 1506/2024 ( ), published in the Official Gazette No. 1185 of
November 28, 2024. In addition, Law 283/2024 aligned the Labor Code with Directive (EU)
2022/2041.
In Moldova, the minimum wage threshold for 2025 was set at 5,500 Moldovan RON
pursuant to Government Decision No. 846 of December 2024.
The BT Group complies with these regulations and pays all its employees at a level above
the minimum established by law.
Remuneration indicators (pay gap and total remuneration)
The gender pay gap was calculated in accordance with ESRS requirements both at the level
of BT Group and at the level of Banca Transilvania . The indicator represents the unadjusted
ratio determined based on the raw data reported by the entities included in the scope of
consolidation. This ratio reflects the difference between the average salary levels of female
and male employees, expressed as a percentage of the average salary level of male
employees. The methodology used does not include adjustments for factors that may have
a statistically significant impact on remuneration levels, such as professional experience,
job position, performance, geographic location, or level of education. Therefore, in the
absence of these adjustments, the unadjusted gender pay gap has limited relevance, as it
is not correlated with the economic and organizational factors listed that can explain wage
differences beyond the gender dimension.
⁙ ⁙ ⁙
As of December 31, 2025, the unadjusted rate is 24.3% at Banca Transilvania and
24.9% at BT Group, down from December 31, 2024, when it was 25.9% at Banca
Transilvania and 25.4% at BT Group.
To more accurately reflect the reality and complexity of the salary structure, Banca
Transilvania conducted an in-depth analysis of the pay gap between women and men, both
at the individual and consolidated levels. The analysis was based on a regression model
that included relevant variables such as job function, experience, education level, location,
and other organizational factors, assessing the impact of the gender variable through the
corresponding regression coefficient. This approach yields an adjusted result, providing a
statistically relevant perspective on pay gaps correlated exclusively with gender. We
128
Sustainability Statement 2024, Banca Transilvania Financial Group
believe that conducting such an analysis is essential for a correct and nuanced
interpretation of the results and for informing measures that support pay equity,
organizational culture, and employee motivation. After adjusting for relevant variables, the
adjusted pay gap is 4.5% at both Banca Transilvania and BT Group:
Gender pay gap
Entity
Pay gap
unadjusted pay gap
Adjusted
adjusted pay gap
2025
2024
2025
2024
BT
24.3%
25.9%
4.5%
6.4%
BT Group
24.9%
25.4%
4.5%
6.8%
Note: The conversion from MDL to RON was performed using the exchange rate published by the European Commission, 1
MDL = 0.2580 RON
In the context of ESRS reporting, the total annual pay ratio is a key indicator for assessing
pay inequalities and ensuring transparency at the organizational level. It is determined by
comparing the total annual remuneration of the highest-paid employee to the median
remuneration, calculated for all employees, excluding the remuneration of the highest-paid
employee.
The indicator provides a relevant picture of the internal distribution of compensation and
supports the assessment of pay equity, serving as an important tool in supporting
sustainability strategies and equal opportunity policies.
Total annual remuneration report
Entity
Median
Ratio (according to
ESRS)
Ratio (according
to ESRS)
2025
2024
2025
2024
2025 vs 2024
BT
176,656
157,166
86.55
82.08
5.45%
BT Group
177,161
158,164
86.30
81.57
5.80%
129
Sustainability Statement 2024, Banca Transilvania Financial Group
Entities in the Republic of Moldova
For the reports covering the years 2024 and 2025, total compensation was assessed in
accordance with the methodology used to determine the gender pay gap, including
members with a mandate (excluding members of the Board of Directors).
With regard to the 2025 fiscal year, entities in the Republic of Moldova (BC Victoriabank
SA, OCN BT Leasing Moldova SRL, OCN Microinvest SRL) were analyzed separately, given
the different legislative framework compared to Romania, as well as specific market
practices.
Republic of Moldova – remuneration indicators
Gender pay gap
Country
Unadjusted gender pay gap
2025
Adjusted gender pay gap
2025
Republic of Moldova
37.20%
5.70%
Total annual pay report
Country
Median 2025
Ratio (determined
according to ESRS) 2025
Republic of Moldova
64,033
33.61
In contrast to the analysis conducted in 2024, the assessment for this report was carried
out taking into account the relevant provisions of the EU Directive 2023/970, which
strengthens the application of the principle of equal pay for equal work or work of equal
value between women and men, by introducing increased requirements for pay
transparency and mechanisms to ensure compliance with the law. This legislative act
clarifies a number of methodological and conceptual aspects that support the consistent
application of pay equity principles, without taking the age variable into account.
Policies on employees’ skills development
Training and professional development are key elements for employees’ growth, providing
opportunities to strengthen the skills and abilities needed to perform efficient and high-
quality work. The Bank’s Internal Rules of Procedure govern, among other things, the
general framework for professional development.
By participating in training programs, employees can update and expand their knowledge,
facilitating adaptation to organizational changes and developments in the external
130
Sustainability Statement 2024, Banca Transilvania Financial Group
environment. At the same time, professional training supports the development of
innovation capacity and the improvement of individual and team performance.
To support the learning process, specific procedures have been developed, including a
procedure regarding remote learning. Furthermore, for employees engaged i in activities
specific to financial services and operations, the Procedure on the Administration of the
Compliance Framework for MiFID II‑Relevant Operations at the Bank applies, developed to
ensure compliance with the professional training requirements set out in Law No. 126/2018
on markets and financial instruments.
The content of the programs, teaching methods, and their outcomes are evaluated by the
BT Academy to ensure alignment with organizational objectives and employees’
development needs.
At the subsidiaries level, each entity establishes its own Internal Rules of Procedure,
tailored to its specific operational needs and characteristics. Additionally, each subsidiary
develops and implements training procedures specific to its field of activity, thereby
ensuring compliance with the applicable regulations and the continuous development of
the employees’ competencies.
⁙ ⁙ ⁙
In 2025, the average number of training hours per employee / per year across the
BT Group was 55, similar to 2024.
Programs for the professional and personal development of the employees
In 2025, efforts continued to foster a culture based on continuous learning, collaboration,
autonomy, and resilience, through the development of programs designed to support
performance and continuous adaptation to changes in the banking environment. Key
priorities included upskilling employees to understand and use technology tools that
leverage artificial intelligence, as well as training managers in the context of the hybrid
human-AI work environment.
A record level of participation in learning programs was recorded across the Group, totaling
approximately 769,000 training hours, delivered through a combination of formats: in-
person sessions, webinars, and e-learning programs. The program portfolio evolved
throughout the year to address both immediate operational needs and the medium- and
long-term strategic objectives of the bank and its subsidiaries. The training programs
aimed to strengthen employees’ technical, professional, and behavioral competencies,
covering areas such as compliance and regulation (AML/KYC, GDPR, international
sanctions, ethics), ESG and sustainability, banking products and services, financial analysis
and risk management, IT security and digitalization, project management and leadership,
as well as the development of communication, collaboration, and personal efficiency skills.
131
Sustainability Statement 2024, Banca Transilvania Financial Group
This approach supported the growth of internal expertise and the alignment of employees’
skills with the demands of a constantly evolving financial landscape.
To structure and consistently support the learning process, training programs were
organized across two main academies, which addressed distinct development needs and
supported employees’ career paths based on their role, level of experience, and area of
activity.
Leadership and Management Academy
Be the Manager – A program dedicated to entry-level and mid-level managers, focused on
strengthening essential management and leadership skills.
Leadership Program – Developed in collaboration with professors from Harvard Business
School. This program is designed for senior managers within the BT Group, with the aim of
developing strategic leadership skills.
Intelligent Relationships – A program for senior and mid-level managers within the BT
Group, designed to improve collaboration and the effectiveness of professional
relationships within the organization.
Leadership Journey Program – Dedicated to Headquarters Directors, in collaboration with
professors from the prestigious Maastricht EMBA program.
START BT_Leadership in Action – A 6-month program dedicated to preparing successors
for Branch Directors.
Sales Academy
Entrepreneurship – A program dedicated to developing an entrepreneurial spirit, based on
modern methods, including the Business Model Canvas and GROW, offering participants
practical and applied experiences.
SME Business School – A program designed for teams in the SME and microbusiness
segments, this program focuses on developing sales skills and identifying customer needs,
contributing to the building of sustainable business relationships.
Sales Caravan – A project specifically designed for customer relationship employees,
aimed at developing sales skills in a flexible and accessible format, adaptable to local
realities (Phone Approach and Consultative Selling).
Individual coaching programs, delivered by internal and external coaches, that support the
development of managerial skills and the process of assuming the role of manager.
132
Sustainability Statement 2024, Banca Transilvania Financial Group
AIvolution
AIvolution was a special initiative in 2025, aimed at facilitating cultural transformation
through artificial intelligence. A bold internal project, launched when AI was just beginning
to be widely understood, but one that promises to profoundly transform the way employees
work, collaborate, and innovate. Initially developed by HR for implementation within IT
teams, it was gradually expanded across the entire organization, targeting how employees
work, collaborate, and innovate through the responsible and effective adoption of AI
technologies.
AIvolution addressed two business needs: (1) increasing operational efficiency across all
areas of activity by reducing the volume of “busy work” and (2) developing employees’
digital skills to support new work models and transformation projects. Among the results
measuring the project’s impact:
• Adoption & engagement: over 350+ IT employees participated in more than 60
training sessions during the first phase, strengthening the skill set required for AI-
driven digital transformation projects; in total, nearly 6,800 participations in AI-
themed programs confirm the interest and relevance of the topic within the
organization.
• Individual efficiency: an internal survey shows that 80% of AI users report improved
work quality and time savings of 1–2 hours/day, a critical indicator for operational
efficiency and availability for high-value-added activities.
• Scaling technology in business: Microsoft 365 Copilot and GitHub Copilot licenses
were allocated and integrated into employees’ workflows for the automated
generation of documents, analyses, presentations, or code-assisted writing,
reducing costs associated with manual effort and raising the quality standard of
deliverables.
• Quality of IT deliverables: the use of AI in development (including AI agents for roles
such as Analyst, PM, Architect, Developer, and QA) has led to reduced delivery times
and a noticeable increase in quality.
Through these results, AIvolution has contributed to both cost efficiency and increased
productivity, strengthened the digital culture within BT, and prepared the organization for
future technological transformations.
Learn from Home
Intended for employees across the network, this benefit was accessed by 851 colleagues
in 2025, the same number as in 2024.
Webinars developed in 2025:
Finance with Meaning – The Fundamentals of Financial Education: This training provides
essential concepts for managing personal finances, savings, and financial planning.
133
Sustainability Statement 2024, Banca Transilvania Financial Group
Participants prioritize their own financial needs and discover simple, accessible strategies
for responsible, long-term management of financial resources.
Finance with a Purpose – First Steps in Investing – The program introduces investment
concepts, the benefits of investment funds, and the BTAM offer. Participants analyze
financial options such as funds, savings, direct stock investments, and voluntary pensions,
with access to real-world examples and simulations.
Gender Equality Policy
Within the Group, the Policy on Equal Opportunities and Treatment between Women and
Men, in place since 2020, provides a clear and well-defined framework for promoting a fair
and inclusive work environment. It is designed to guide employees in understanding
discrimination and harassment, highlighting everyone’s responsibilities and the measures
available for reporting and resolving any instances of harassment or exclusion. The policy
encourages the correction of attitudes and behaviors that may lead to the marginalization
of individuals, regardless of gender, and emphasizes the benefits of an organizational
culture based on diversity, inclusion, and mutual respect. It also establishes clear provisions
for applying the principle of equal opportunity in all aspects of employment, including
recruitment, promotion, professional training, working conditions, compensation, and social
security.
Issues related to diversity, inclusion, and equal opportunity, which describe the behavior
the Bank expects from all its employees, are also included in BT’s Internal Rules of
Procedure and Code of Ethics and Conduct.
The Policy on Equal Opportunities for Men and Women and the Internal Rules of Procedure
clearly define forms of discrimination, both direct and indirect, based on criteria such as
gender, sexual orientation, genetic characteristics, age, nationality, race and color,
ethnicity, religion, political and social views, disability, and family situation or
responsibilities.
To prevent and combat all forms and acts of gender-based harassment and psychological
harassment in the workplace, Banca Transilvania commits to:
• to ensure equal opportunities and treatment among employees, women and men, in
all types of employment relationships;
• to continuously inform employees of their rights regarding equal opportunities and
treatment between women and men in employment relationships, including through
training sessions;
• to inform the public authorities responsible for enforcing and monitoring the
compliance with the legislation in place on equal opportunities and treatment
between women and men;
• prohibit and sanction any actions that may lead to workplace bullying or
discrimination based on gender.
134
Sustainability Statement 2024, Banca Transilvania Financial Group
At the same time, the Policy on the Selection, Monitoring, Assessment, and Succession
Planning at Banca Transilvania establishes how diversity is promoted within Banca
Transilvania’s governing bodies (the Board of Directors and the Leaders’ Committee).
⁙ ⁙ ⁙
In 2023, Banca Transilvania signed the Romanian Diversity Charter, publicly
committing to the European principles on diversity, equal opportunity, and
inclusion. In 2024, the bank became a member of the Romanian Diversity Chamber
of Commerce, further strengthening its involvement in DEI initiatives within the
business community. In 2025, the BT Women’s Network was honored at the
Romanian Diversity Awards, and the bank made important steps forward on its
program to make its’ services accessible (both digitally and physically), in line with
the European Accessibility Act.
Incidents, complaints, and serious human rights issues
At the Group level, Banca Transilvania recorded 17 reports regarding potential incidents of
discrimination, and Salt Bank recorded 1 report. Following investigations, it was found that
there were no instances in which the Bank’s employees who filed the reports had been
subjected to acts of direct or indirect discrimination or harassment by the person they
complained about.
Complaints were received through the following channels:
• 17 complaints received via email sent directly to HR;
• 1 complaint via the Whistleblower platform.
⁙ ⁙ ⁙
During the reporting period, the Group did not record:
• serious human rights incidents,
• complaints filed with the National Contact Points for Responsible Business
Conduct,
• serious human rights issues and incidents related to its own workforce that
constitute breaches of the UN Guiding Principles and the OECD Guidelines
for Multinational Enterprises,
• fines, penalties, or compensation for damages resulting from violations
related to employment-related discrimination and harassment,
• fines, penalties, or compensation for damages resulting from incidents
involving human rights violations.
135
Sustainability Statement 2024, Banca Transilvania Financial Group
Specific provisions for the inclusion of vulnerable persons
The Internal Rules of Procedure contain clear provisions regarding the protection of
breastfeeding mothers, recognizing them as a vulnerable group upon their return to work.
Additionally, for employees returning from parental leave, the Bank offers a reduction in
working hours for the first four weeks, without affecting their salary rights, thereby
facilitating their transition back into the workplace. At the same time, to support vulnerable
groups (employees with disabilities), a case-by-case teleworking procedure is applied,
offering flexibility in work organization and ensuring an optimal work-life balance. In
accordance with the collective bargaining agreement, employees with disabilities are
entitled to at least 3 additional working days of paid leave.
Diversity of the BT Group Team
Diversity in
Leadership
Structures
2025
2024
Women
Men
Total
Women
Men
Total
13
26%
37
74%
50
13
29%
32
71%
45
In case of Banca Transilvania, Victoriabank, and Salt Bank, senior management is
represented by the members of the Leaders’ Committee and the Steering Committee,
respectively, and in the case of subsidiaries, by the CEO and Deputy CEO.
Employees diversity by age
2025
2024
Under 30
3,263
3,260
Between 30 and 50
9,404
9,733
Over 50
1,712
1,676
Total
14,379
14,669
Policies on occupational health and safety
At the BT Group level in Romania, matters related to employees occupational health and
safety are governed internally by the Guidelines on Occupational Health and Safety (OHS)
and Emergency Situations (ES), which are coordinated by the Deputy CEO (COO) through
the Physical Security Department – OHS-ES Office. At the level of BT Group companies in
136
Sustainability Statement 2024, Banca Transilvania Financial Group
the Republic of Moldova, the occupational health and safety management system is
implemented in accordance with applicable legislation.
Hazard identification and risk assessment are conducted at the Bank level for each
workplace by the OSH-ES structures (with the option of using authorized external services,
as appropriate). The results are incorporated into the Prevention and Protection Plan, which
details the assessed occupational risks, technical, hygiene, and organizational measures,
as well as the resources required for implementation. The plan may be revised whenever
changes in working conditions occur or new risks arise. Employees and designated workers
are instructed to immediately report hazards/dangerous situations, including via email to
the OHS-SU Office (ssmsu@btrl.ro), following the established procedures for internal
reporting and, where applicable, notifying the authorities (ITM/ISU).
Prevention of Workplace Accidents
The Bank has implemented a policy on occupational health and safety, as well as
emergency management. This is supported by a management system focused on risk
prevention, training and informing workers, as well as investigating and recording incidents,
in accordance with the provisions of Government Decision 1425/2006.
The Occupational Health and Safety Committee (OHS Committee) operates at the Bank
level to ensure employee involvement in OHS decisions. The committee consists of 8
employee representatives, 8 employer representatives, the occupational physician, the
Chair, the Deputy CEO (COO), and the secretary is an employee from the OSH-SU Office.
The committee’s responsibilities and operations are defined in accordance with the
provisions of Government Decision 1425/2006, Article 67, and the Internal Rules of
Procedure. The terms of office for employees’ representatives are two years, and upon their
expiration, a new selection process is organized. The election procedure is governed by
the Bank’s Internal Rules of Procedure.
At the branch level, a person is designated to be responsible for the prevention and
protection regarding occupational health and safety (OHS) and emergency situations (ES),
as well as for the training and coordination regarding OHS and ES. The person designated
for prevention and protection regarding occupational health and safety (OHS) and
emergency situations (ES) implements the instructions received from the Office for
Occupational Health and Safety and Emergency Situations and maintains the necessary
documentation in accordance with the mandatory list in the Standard.
Introductory, periodic, and supplementary training is conducted online via the SSM.ro
Platform, with electronic signatures from the individuals involved and automatic
notifications for the completion of the materials; the deadline for completing the periodic
training is 10 business days from the notification. Records of the training forms are stored
electronically on the platform.
137
Sustainability Statement 2024, Banca Transilvania Financial Group
Health and Safety Indicators
At the BT Group level, all employees are covered by the occupational health and safety
management system.
⁙ ⁙ ⁙
In 2025, similar to 2024, no fatalities were recorded among the Group’s own
workforce or contractors following workplace accidents or occupational diseases.
In 2025, a total of 4 workplace accidents were recorded in the BT Group. Of these, 3
accidents occurred at the BT subsidiaries in Romania, and 1 accident at a Group entity in
the Republic of Moldova. By comparison, a total of 11 workplace accidents were recorded
in 2024. Of these, 8 accidents occurred at Banca Transilvania, including 2 minor accidents
that did not require the intervention of the Territorial Labor Inspectorate (ITM), while 3
workplace accidents were reported since the acquisition of OTP.
⁙ ⁙ ⁙
In 2025, the workplace accident rate recorded for the BT Group is 0.19 per
1,000,000 hours worked (vs. 0.50 in 2024), reflecting a safe working environment
and a low number of workplace injuries. This rate is calculated by dividing the total
number of reportable accidents by the number of hours worked, with the result
then multiplied by 1,000,000. As a result of the 4 workplace accidents, 50
workdays were lost (vs. 177 in 2024).
Employees Well-being Programs
Employees’ well-being is a strategic component of Banca Transilvania’s development
model, integrated into Human Resources management processes and long-term
performance objectives. In 2025, investments in health, work-life balance, professional
development, and the employees experience continued to support a stable and motivating
work environment, where engagement, competence, and trust directly contribute to
organizational performance and sustainable financial results.
Thus, long-standing projects with a direct impact on prevention were continued, such as:
→ The “Screening Saves Lives” program, an initiative for detecting the most common
types of cancer, developed and implemented in collaboration with the Regina Maria
Clinics Network. All screenings under the program are free of charge. In 2025, 2,940
screening packages were performed, and in cases where cellular changes were
detected, prompt treatment saved lives.
→ The voluntary health insurance available to BT employees who have opted for this
benefit covers medical expenses resulting from accidents or illness, surgical
procedures, with the additional option of a second medical opinion, as well as
138
Sustainability Statement 2024, Banca Transilvania Financial Group
hospitalization and convalescence. By the end of October 2025, the insurance had
been used by 2,979 colleagues who filed a total of 5,022 claims.
→ The provision of supplementary medical benefits under a co-payment system
supported 71 complex examinations (MRI and CT) as well as access to physical
therapy and physiotherapy services at Kinetic medical clinics.
→ Medical visits – Medical Advisor at the bank’s headquarters.
→ Program for parents returning from parental leave: the program helps employees
gradually reintegrate after an absence of approximately two years. Parents have a
flexible schedule during the first month after returning to work. Based on the positive
feedback received after launching this program, this approach to a gradual return to
work for mothers has been maintained.
Banca Transilvania has strengthened its well-being initiatives by introducing two
overarching concepts: #GrijăDeTine and #BineCuTine, which have enabled the unified
structuring of initiatives dedicated to physical, emotional, and mental health. The use of
these visual tags has helped increase the visibility of the programs among employees,
making it easier to quickly navigate the range of internal communication resources
available.
#GrijăDeTine – Physical Health, Prevention, and Health Education
Programs and initiatives dedicated to prevention and promotion of a healthy lifestyle were
carried out:
• Health webinars: online sessions led by medical specialists (dermatology, pediatrics,
mental health), which provided practical and accessible information. In 2025, over 650
employees participated in these sessions.
• Health assessments
• Specialists from Enayati Medical City conducted physical assessments for 48
employees in Bucharest.
• Evista’s partners provided medical eye care services (via Diopron) to over 250
employees during two dedicated sessions.
• Blood donation campaigns: Four donation sessions were organized in partnership with
the Blood Transfusion Centers in Cluj-Napoca and Bucharest. Approximately 400
employees participated, of whom 346 actually donated blood. The initiative focused on
both the volunteer aspect and raising awareness about the importance of donating blood.
• Educational videos and podcasts
Materials were produced and promoted to encourage prevention and the effective use of
medical services offered to employees, such as:
•
About the Medical Concierge
– Enayati Medical City
139
Sustainability Statement 2024, Banca Transilvania Financial Group
• Second medical opinion
• What the BT subscription includes
• The Enayati Clinic Network
• First aid – recorded webinar
• Premenopause – Educational Webinar
• Carefree Summer – Regina Maria
• Modern Psychology: ADHD, OCD – Regina Maria
#BineCuTine – emotional wellbeing, balance, and lifestyle
Under this pillar, programs were implemented to support emotional, relational, and
behavioral well-being, with a direct impact on employees’ balance and quality of life.
• Urban Camp – program for employees’ children
An internal project dedicated to children aged 7 to 13, hosted at BT’s offices. The program
included themed workshops led by psychologists, educators, and actors, offering an
educational and recreational experience in a safe environment, close to their parents. The
initiative helped create a balance between personal and professional life. Over 52 children
participated in the dedicated sessions at the headquarters in Bucharest and Cluj.
• Raising awareness of the importance of proper posture at the office & “Wellness moments
by 7card”
Internal campaign (via BT HuB) and practical exercise session at the office, led by certified
instructors, aimed at preventing physical discomfort associated with office work and
promoting daily movement.
• “Let’s Work Smart” – campaign for efficiency and prioritization
Organizational education program aimed to optimize work methods, reduce overload, and
adopt sustainable practices in managing daily tasks.
• Video resources and podcasts for emotional well-being:
Recorded educational materials focused on emotional and psychological well-being, such
as:
• About Psychotherapy – Regina Maria
• The Code of Men’s Health: Body, Mind, and Balance
• Understanding and Overcoming the Midlife Crisis
• Therapy and psychological counseling services for issues related to anxiety, stress,
etc.
• Over 134 hours of internal psychological counseling, supporting the 39 colleagues
who requested assistance
140
Sustainability Statement 2024, Banca Transilvania Financial Group
• A series of articles and tips on psychology, under the Wellbeing umbrella, accessible
on the bank’s intranet (BT Hub).
Recruitment Programs
In 2025, the recruitment process aimed to address both current operational needs and
long-term stability and performance objectives. In addition to technical competencies, the
selection process emphasized skills such as collaboration, autonomy, customer focus, and
adaptability, in line with the specific nature of the bank’s business. Initiatives to optimize
the experience of candidates and new employees continued, as did efforts to streamline
the selection and onboarding processes.
At the same time, the first Employer Branding ad was launched, supported by dedicated
external campaigns, which contributed to increasing the visibility of the employer brand
and strengthening its positioning in the labor market.
The BT Career Plan
The BT Career Plan is designed to provide clarity and transparency regarding promotion
and professional development opportunities within the organization. The program is
implemented across the BT network and in relevant departments at Headquarters level,
and in 2025 it was accessed by approximately 830 employees.
Internship at BT
• Three internship projects funded by the European Social Fund were implemented:
o Two internship projects targeting students: “Good experiences keep us
together” and “From the classroom to the Bank – first steps toward
discovering your career.” In both projects, scheduled to run through 2027,
the goal is for 800 students from economics and technical faculties across
the country to complete internships at BT locations.
o An internship program for high school students: “Internships and Training
for Valuable Professionals,” where, in partnership with the “Costin Kirițescu”
Economic High School in Bucharest, 268 students are completing
internships at BT over a three-year period.
• Programs for students: Engineering Summer University, in collaboration with the
Technical University of Cluj-Napoca, attended by over 100 students interested in
technical programs and projects; Junior Summer University in collaboration with
Babeș-Bolyai University, attended by over 100 students interested in the financial
and banking sector; Global Money Week, attended
by 120 middle school students
from Cluj-Napoca
; “Scoala altfel,” attended by 130 elementary school students; and
an event dedicated to financial education with over 120 high school students
141
Sustainability Statement 2024, Banca Transilvania Financial Group
interested in economic development, all in collaboration with the County School
Inspectorate.
• BT Bridge is the initiative through which new colleagues from the Headquarters
connect with teams across the network to gain firsthand insight into the reality on
the ground: the profile of BT customers, service delivery, the product portfolio, daily
challenges, and best practices. At the same time, valuable ideas for improvement
are gathered, inspired by the experience of colleagues who work directly with
customers.
• BT Loop: a pilot project aimed at streamlining recruitment and retention processes
for entry-level roles in the Contact Center and Front Office, initially implemented
in Cluj and Bucharest.
• The project’s objective is for shortlisted finalists to gain direct experience in the
work environment: to observe daily activities and operations, and to interact with
future managers and colleagues. This allows them to form a realistic picture of the
activities and responsibilities before being hired.
• BT First Step: an annual event that facilitates candidates’ first contact with the
banking sector, offering access to relevant information, direct interactions with
specialists, and practical experience, as well as a clear perspective on available role
opportunities within Banca Transilvania (2025 edition participants – over 350).
• RATIO Academy, a project developed in partnership with
the Association of
Accounting Students
at Babeș-Bolyai University in Cluj-Napoca, the largest
educational camp in the field of economics. As part of the initiative, students from
across the country participate in CFA-themed workshops and presentations; over
80 students and high school students took part in this project.
• Business Smart School is a summer school organized by the Association of
Economics Students at Babeș-Bolyai University in Cluj-Napoca, which brings
together students from all over Romania interested in entrepreneurship; over 60
pupils and high school students participated in this program.
• MindSpark, a project organized by StudPAC at Babeș-Bolyai University in Cluj-
Napoca, is a summer camp for high school and college students interested in
marketing, communication, and advertising, attended by over 30 students and high
schoolers.
• The Investment Club within the Faculty of Economics and Business Administration
is a community of passionate students interested in exploring the world of finance
and investment. Over 40 students participated in the event organized by BT,
discussing topics in macroeconomics.
• Mathias Corvinus Collegium Leadership Training is the largest private institution
for youth education and development in Hungary, with extensive programs in
Transylvania as well, where 20 students visited.
142
Sustainability Statement 2024, Banca Transilvania Financial Group
Dialogue with the employees through engagement processes
A structured and ongoing dialogue with our own workforce and employees’ representatives
is essential for understanding our employees’ concerns and needs, for making decisions
based on internal feedback, and for integrating their perspectives into organizational
processes, thereby contributing to the creation of a fair, safe, and high-performing work
environment.
Collaboration with employees
At Banca Transilvania, the Regulations on the Organization and Functioning of the
Employees’ Representatives define the structure of the employees’ representatives and, at
the same time, facilitate social dialogue between the employer and employees through
these representatives. Drafted in accordance with applicable legislation, the Regulations
aim to formalize the rights and obligations of elected and specially mandated employees’
representatives, whose mission is to defend and protect the interests of employees.
For the Bank and its subsidiaries in Romania, the employees’ representatives are elected at
the General Meeting of Employees, with the vote of at least half plus one of the total number
of employees. The term of office for the employees’ representatives may not exceed 2
years. Any employee of Banca Transilvania with a permanent employment contract, who
has been with the company for at least 12 months prior to the date set for the elections
and who is not among the company’s legal representatives, may run for the role of
Employees’ Representative, and the candidacy must be submitted in person.
⁙ ⁙ ⁙
The most recent employees’ representatives elections at Banca Transilvania took
place in 2025 and involved voluntary, open candidacies. The employees’
representatives were appointed following the votes casted from approximately
6,100 colleagues. 7 candidates were elected as Employees’ Representatives.
Employees’ representatives serve as the interface between the bank and the workforce
and are highly involved in the Bank’s decision-making process. The role of employees’
representatives is to collaborate with the Bank to identify and implement those solutions
that benefit the workforce; consequently, an employee representative is always invited to
attend Human Resources Committee meetings.
Among their responsibilities, the employees’ representatives are tasked with handling
collective bargaining negotiations, ensuring respect for the employees’ rights, and
defending employees’ interests regarding wages, working conditions, working hours,
workplace safety, and other professional, economic, and social aspects related to labor
relations. They also participate in the formulation of Internal Rules of Procedure.
Furthermore, they play a crucial role in consolidating colleagues’ proposals and engaging
in negotiations with management representatives.
143
Sustainability Statement 2024, Banca Transilvania Financial Group
Individuals working within BT Group under mandate contracts are not covered by the
Collective Bargaining Agreement.
BT Employee Experience Index
Fostering an organizational environment based on collaboration, respect, and
accountability is a strategic priority for BT Group. The goal is to support effective
cooperation among employees to achieve shared objectives, encourage engagement in
their own professional development, and maintain a work environment characterized by
strong professional relationships and genuine opportunities for growth.
For the ninth consecutive year, the BT Employee Experience Index (BT EEI) was
conducted, an internal survey designed to measure perceptions of the work environment
and understand how to improve the day-to-day experience of employees across BT
Groupcompanies. The BT Employee Experience Index (BT EEI) is conducted twice a year
and has the following main objectives:
• measuring the Employer Net Promoter Score (eNPS);
• measuring the quality of interaction between managers and the team members
they lead;
• assessing the extent to which Banca Transilvania’s strategy is known to the
entire bank team;
• collecting suggestions and recommendations that can increase employees’
satisfaction;
• measuring the quality of collaboration with colleagues in other departments,
based on frequent professional interactions;
• assessing the level of collaboration with departments within the organization,
based on interactions throughout the year.
In the Summer 2025 edition, a new framework for measuring organizational climate was
introduced, focused on dimensions with a direct impact on eNPS and employees’
motivation. These dimensions are monitored annually to understand what matters most to
employees, followed by the definition of concrete actions at both the organizational and
team levels to continuously improve employees’ experiences within the BT Group.
In the summer edition of the internal BT Employees Experience Index survey, colleagues
perceived as models of collaboration, support, and professionalism were recognized based
on employee feedback. The study also analyzed the divisions or departments with which
employees frequently interact in their daily work, highlighting those units appreciated for
their promptness and efficiency in resolving requests.
The participation rate of employees in the BT Group was 85% in the survey conducted
between July and August 2025 (compared to 89% in the January-February edition), with
over 9,490 responses (vs. 9,213 in January–February) that were analyzed and used to
inform a series of decisions aimed at improving the organizational climate.
144
Sustainability Statement 2024, Banca Transilvania Financial Group
The results obtained through the BT Employee Experience Index (BT EEI) provided a clear
perspective on the employees’ expectations and needs, allowing for the adjustment of
motivation and retention strategies. Thus, in 2025, Banca Transilvania implemented a series
of measures aimed at improving the employees’ experience, both in terms of financial
benefits and in terms of flexibility and pay equity.
• Indexing the salaries of all employees to the inflation rate for 2024, effective as of
February 1, 2025;
• Maintaining the hybrid work schedule, offering the option to work from home 10 days
per month for employees in less critical roles.
Mechanisms for reporting and processes for resolving employees concerns
Currently, to manage the potential negative effects generated by gender pay gaps, the
company applies a formal methodology for calculating the pay gap. The methodology
describes the steps necessary to analyze whether there are pay differences between
female and male employees for the same work or for work of equal value, as well as to
determine the extent of these differences.
The objective is to identify and quantify the factors contributing to any pay differences. In
cases where the pay gap between male and female employees, for each category
established internally, exceeds 9% and cannot be justified by objective and gender-neutral
criteria, the underlying causes of this difference are analyzed, and measures to reduce it
are established within a reasonable timeframe, so as to avoid further imbalances, including
with regard to financial and prudential indicators.
The entity also has robust privacy policies in place, which are highly transparent and
publicly accessible on its official website. Furthermore, thanks to the rigorous security
measures implemented, no data loss incidents have been recorded, thereby ensuring the
protection and integrity of the information managed.
Furthermore, to mitigate other forms of negative impact on employees, the company
implements essential support measures. Thus, access to psychological counseling is
provided for employees affected by burnout, a service that allows them to receive
professional support to overcome difficult periods. Additionally, supplementary training
sessions are organized, focused on stress management and handling difficult interactions
with customers, essential aspects for reducing daily pressure and improving professional
relationships. Workload is managed through the balanced redistribution of tasks among
employees and, where necessary, by supplementing human resources, with the aim of
preventing team overload. At the same time, we aim to optimize processes by digitizing
repetitive or administrative activities, some of which are automated through dedicated
technological solutions. These measures help reduce operational pressure, streamline
operations, and maintain a sustainable work environment that supports employee
performance and well-being.
145
Sustainability Statement 2024, Banca Transilvania Financial Group
Specific channels for collecting employee feedback
At the Group level, there are clear and accessible channels for reporting concerns and
complaints. These mechanisms allow for the identification and resolution of issues in an
efficient manner, contributing to the continuous improvement of processes and the
maintenance of a fair work environment. Employees have the right to report any treatment
deemed discriminatory or behavior that may constitute harassment. In the event of a report,
in addition to the complaint filed, the employee may submit multiple pieces of evidence to
substantiate the allegations.
Banca Transilvania offers several options for reporting cases deemed to be harassment or
discrimination:
• Direct report to the immediate supervisor. If the issue is not resolved at this level,
the report is formally escalated to the HR Special Projects & Employee Relations
Department, which initiates resolution steps within a maximum of 15 business days.
• Direct report to the HR & Special Projects and Employees Relations Department. The
department provides guidance and manages the case procedurally. If necessary,
the report is forwarded to the Human Resources Committee, with a decision within
45 business days at the latest.
• Confidential reporting via the dedicated Whistlelink platform:
https://bancatransilvania.whistlelink.com – a secure channel, recommended when
there are concerns about possible repercussions.
For more complex issues or those requiring an official approach, there are well-defined
formal mechanisms that follow specific steps: filing a written complaint, case report,
investigation, and resolution of the complaint.
To conduct detailed and objective investigations, a Preliminary Disciplinary Investigation
Committee is established, consisting of at least 3 voting members who are impartial and
objective. When appointing the committee responsible for receiving and resolving
harassment cases, the following criteria are taken into account: gender balance, specifically
equal representation of women and men, as well as the ethical and professional conduct of
the individuals designated to serve on the committee that will analyze the harassment case.
The investigation committee may not include persons directly or indirectly involved in the
reported events. The outcome of the investigation is recorded in the minutes of the
designated committee and submitted to the competent decision-making body, which
determines whether or not sanctions are warranted. Based on this decision, the authorized
human resources department issues, if applicable, the disciplinary decision within 30
calendar days of the minutes being recorded (but no later than 6 months from the date of
the incident), and the employee is notified within 5 calendar days of issuance. If no sanction
is imposed, the decision includes appropriate provisions.
Group employees may also submit reports through external channels under the conditions
provided by law. In this case, reports are submitted using the channels made available to
146
Sustainability Statement 2024, Banca Transilvania Financial Group
them by the competent authorities responsible for receiving such reports and taking
subsequent action (e.g., the National Bank of Romania, the Financial Supervisory Authority,
the National Integrity Agency).
Currently, the Group does not conduct a formal process to assess employees’ level of trust
in these structures and processes as a means of expressing their concerns or needs. The
implementation of a dedicated mechanism to measure the perception and degree of these
channels usage is being considered as part of future processes to strengthen internal
governance practices.
Existing reporting mechanisms are communicated via the intranet, internal policies, and ad
hoc notifications to ensure an adequate level of information and accessibility for
employees.
The BT Group’s subsidiaries have implemented specific measures to ensure a work
environment based on equal opportunity and free from harassment. The Internal Order
Regulation for each subsidiary include a chapter dedicated to the equal opportunity and
anti-harassment policy. Additionally, each subsidiary either has its own reporting channel
or has access to the Bank’s “Whistlelink” and “My Alert” channels.
In light of specific legal regulations, reports received directly from employees of the
subsidiaries BT Asset Management SAI and BT Capital Partners or from other individuals,
regarding violations of the law within the aforementioned entities, are redirected to their
respective reporting channels, namely MyAlertBTAM@btam.ro and
myalert@btcapitalpartners.ro , to be handled in accordance with the applicable Internal
Rules of Procedure.
Protection Against Retaliation
The policy on protection against retaliation for individuals using the reporting channels is
included in the internal reporting procedure and complies with applicable law. In this regard,
throughout the reporting procedure, as well as after its resolution, any form of retaliation,
threats of retaliation, or attempts at retaliation against individuals who have filed a report
is strictly prohibited, in accordance with the provisions of Law No. 361/2022. The Group is
committed to protecting the integrity and rights of all individuals who raise concerns or
needs through these channels, ensuring a safe and fair environment for them to express
themselves.
147
Sustainability Statement 2024, Banca Transilvania Financial Group
Employee-focused initiatives and monitoring of their outcomes
Managing the impact on employees: action plans and mitigation measures
The Group systematically analyzes issues relevant to its workforce, including working
conditions, health and safety, pay equity, and discrimination prevention, using internal tools
such as surveys, audits, and reporting mechanisms. Based on the findings, improvement
measures are adopted, aimed at optimizing working conditions, updating pay policies, and
strengthening employees’ reporting and protection channels. The progress of these
initiatives is tracked through performance indicators, internal feedback, and periodic
assessments, providing insight into the effectiveness of the implemented measures and
the level of employees’ satisfaction.
Responsibility toward employees entails a constant assessment of how the organization’s
activities influence their work environment and professional experience. Addressing and
managing challenges arising in the relationship with the BT Group team takes the form of
actions designed to support well-being, professional development, and a balanced work
environment for all team members:
• Salary adjustments in line with inflation: In February 2025, BT implemented a
significant measure to ensure the financial well-being of its employees by indexing
salaries in accordance with the inflation rate for 2024.
• Investments in non-salary benefits: BT recognizes the importance of a
comprehensive benefits package for employees, including not only salaries but also
private health insurance and voluntary pensions.
• Workplace safety and well-being: BT places a strong emphasis on reducing the risk
of accidents by implementing comprehensive safety and well-being programs. A
notable example is the wellbeing program, which focuses on mental and physical
health prevention and was developed based on a detailed report identifying specific
risk factors according to gender, age, and prevalent medical conditions.
• Stress and burnout prevention: Balancing workloads and providing psychological
support are priorities for BT, which recognizes the negative impact of stress, and
burnout on employees’ productivity and satisfaction. Support programs are
designed to provide employees with the resources needed to effectively manage
daily pressures.
• Career Continuity and Development Plans: Reducing staff turnover and fostering
continuous employees’ development are essential for BT. Development programs,
such as “Be the Manager” and the “Leadership Program,” provide managers with the
tools needed to excel in their roles, contributing to the creation of a strong
organizational culture and a solid talent base.
• Skill development through continuous education: BT invests in the continuous
training of employees through courses, workshops, and access to online learning
148
Sustainability Statement 2024, Banca Transilvania Financial Group
platforms. Initiatives such as “Școala Altfel” at BT underscore the company’s
commitment to financial education, extending it to the community as well.
• Internal mobility programs: The BT Career Plan and initiatives such as BT Bridge
are designed to offer employees opportunities to explore new roles and
responsibilities, promoting a culture of internal growth and professional satisfaction.
• Process automation and digitization: Efforts to automate and digitize processes
are crucial for BT, allowing employees to focus on value-added tasks and improve
operational efficiency.
The effectiveness of actions and initiatives implemented for its workforce is monitored and
evaluated through a structured process based on the collection and analysis of relevant
data. Monitoring is carried out using specific performance indicators (KPIs) such as:
employees satisfaction level, eNPS (Employee Net Promoter Score), staff turnover rate, and
compliance with occupational health and safety standards. Effectiveness is assessed
through feedback sessions with employees, as well as through internal audits to verify
compliance with the implemented measures. Furthermore, analyzing long-term trends and
comparing results with established objectives allows for the continuous adjustment and
improvement of policies and initiatives. All these mechanisms ensure a proactive approach,
designed to maintain a safe, fair, and motivating work environment for all employees.
Management of Labor-Related Risks and Opportunities at Banca Transilvania
Within BT Group, the management of relevant workforce-related risks contributes to
maintaining operational continuity and efficiency. In this context, actions aimed at
mitigating risks related to skills, training, and professional development are constantly
implemented.
The Group supports the continuous development of employees through training programs
designed to strengthen the skills needed to adapt to new technologies and processes, as
well as through sessions dedicated to developing technical and leadership skills, with the
aim of ensuring a prepared and flexible team.
These initiatives help maintain a high level of operational performance and the
organization’s ability to respond effectively to changes in the business environment,
reducing risks associated with workforce dependency.
To capitalize on opportunities for growth and innovation, the Group implements extensive
professional development programs, which include specialized training, mentoring, as well
as upskilling and reskilling initiatives tailored to market needs. Competitive benefits
packages are also offered, designed to support employees’ well-being and motivation. In
parallel, organizational development initiatives are underway, aimed at optimizing internal
processes and strengthening an organizational culture based on collaboration,
performance, and innovation.
149
Sustainability Statement 2024, Banca Transilvania Financial Group
Resources Allocated for the Employees Development
The Group allocates a significant annual budget to the Human Resources function to
implement measures aimed at sustaining the positive outcomes for employees and
mitigating any negative effects arising from material impacts. The related expenses are
reflected in the 2025 Financial Statements, in the Consolidated Income Statement under
“Personnel Expenses”, representing approximately 43% of total consolidated operating
expenses.
Targets and commitments
The Group aims to strengthen workforce stability and development through clear objectives
regarding recruitment, retention, training, and diversity. The main priorities focus on
diversifying recruitment, reducing turnover in critical roles, developing skills, promoting a
fair work environment, and monitoring organizational balance.
Progress toward these objectives is continuously monitored using specific key performance
indicators (KPIs):
• An eNPS of at least 50 and a rate of participation in training programs of at least
70% – for 2025 the eNPS was 59 corelated with a participation rate in the survey
conducted between July and August 2025 of 85% (89% in the January–February
2025 edition), with over 9,490 responses (9,213 in January–February), confirming
the employees’ interest in professional development programs.
• A minimum of 40 hours of training per year per employee, excluding on-the-job
training – the target was exceeded, with the annual average reaching 55 hours of
training per employee, reflecting the consistent investment in professional skills
development.
• Involvement of at least 70 students in internship programs – the target was met, with
over 300 students participating in internship programs, benefiting from practical
experience and mentoring from the bank’s teams.
• Conducting volunteer activities and CSR initiatives – throughout the year, volunteer
programs and social responsibility initiatives were continued and expanded, with
employees participating in numerous community, educational, and social activities
held nationwide.
• Monitoring gender balance, age, and diversity at the organizational level – the bank
continued to monitor diversity indicators and promoted an inclusive work
environment through internal initiatives and human resources processes that
support gender balance, generational diversity, and equal opportunities.
150
Sustainability Statement 2024, Banca Transilvania Financial Group
The setting and adjustment of objectives are based on the results of internal surveys,
periodic assessments, consultations with the employees’ representatives, and comparative
analysis with industry practices, as well as an annual review based on performance and
market conditions.
151
Sustainability Statement 2024, Banca Transilvania Financial Group
3.2 Customers and users of the BT Group’s products and services
Significant impacts, risks, and opportunities and their connection to the strategy,
business model, and customer and end-user segments
The Group’s business model is based on providing financial products and services to
consumers and end users, individual and corporate customers, and their needs directly
influence the strategy, operational structure, portfolio development, and service delivery.
Individuals who use the Group’s services and products, such as checking and savings
accounts, deposits, consumer loans, and mortgages, as well as savings and investment
instruments, represent a significant segment of the portfolio. These services enable them
to save, invest, or access financing for home purchases, thereby contributing to their
financial stability and security. Their characteristics and expectations are integrated into
the development process of financial products, digital platforms, and interaction channels.
The corporate client segment complements the Group’s portfolio through a diverse range
of financial products and services, including financing solutions, cash management, and
trading. Special attention is also given to small and medium-sized enterprises, which use
the Bank’s services for financing, consulting, and risk management solutions, thereby
contributing to local economic growth and supporting access to financing and development
for this category of clients.
Activities dedicated to corporate clients are organized into four business lines: large
corporate, mid-corporate (Mid-Co), SMEs, and microenterprises (micro). Large corporate
and Mid-Co clients include large companies that use the Bank’s financial products to
manage their cash flows, access financing to expand their business, or invest in new growth
opportunities. By offering tailored financial solutions, the Bank supports the development
and consolidation of economic activities at the corporate level.
SME and micro customers represent a strategic segment, playing an essential role in the
local and global economy. They require flexible financial solutions, such as working capital
loans, lines of credit, equipment financing, or real estate loans for the purchase of
commercial spaces. By ensuring access to financing and promoting financial inclusion, the
Bank contributes to the growth and sustainability of these businesses, facilitating the
development of the entrepreneurial environment.
Transparency and clarity in the contractual terms and conditions of the Group’s products
and services are essential to our relationship with customers, helping them to correctly
understand the associated features, costs, and risks. Accessible and comprehensive
communication supports informed and responsible financial decision-making. In this
context, special attention is given to certain categories of customers who may be more
financially vulnerable. These include low-income individuals, retirees, young people with no
financial experience, the rural population, or those at risk of financial exclusion. These
groups may face difficulties in understanding more complex financial products or managing
152
Sustainability Statement 2024, Banca Transilvania Financial Group
their financial obligations, which can increase the risk of over-indebtedness or making
unfavorable financial decisions.
To mitigate these risks, the Bank employs mechanisms such as promoting financial
education, enhancing the transparency of the information provided, and complying with
the applicable regulatory framework, ensuring fair, responsible, and tailored interactions
with vulnerable customers.
Material adverse effects on customers
Among the financial products and services offered by BT Group entities that may have
negative effects on customers are variable-rate loans, which can become more expensive
in the context of market fluctuations, as well as high-risk investment products, which can
lead to financial losses. Furthermore, certain more complex financial products require an
adequate level of understanding on the part of users. In the absence of proper information
and assessment, some credit products can lead to over-indebtedness or repayment
difficulties, particularly during periods of economic instability.
Thus, transparency regarding information on financial products and services is an essential
element in the relationship with customers. Total costs, fees, and associated risks are
presented in clear and accessible language so that customers can make informed financial
decisions and avoid taking on obligations they do not fully understand.
In providing its services, the Bank processes financial data and personal information, which
may give rise to risks related to data privacy and security. Unauthorized access, misuse of
information, or cyber attacks can affect customers’ financial security and their level of trust
in the services provided. To mitigate these risks, technical and organizational cybersecurity
measures are implemented, along with clear data protection policies.
Activities with a positive impact on BT Group customers
The Group plays an important role in the Romanian economy through its financing activities
for individuals and companies. Through loans provided to entrepreneurs, SMEs, large
companies, and the general public, the Bank contributes to supporting investment,
consumption, and business development, and through financing programs tailored to the
diverse needs of customers and strategic partnerships, it plays an active role in stimulating
investment, innovation, and financial inclusion, thereby strengthening the resilience and
competitiveness of the national economy.
At the same time, the Group promotes inclusive financial products, such as fee-free bank
accounts for low-income individuals or financing solutions for early-stage entrepreneurs,
thereby facilitating access to financial services for groups that may face barriers in their
relationship with the banking system. Financial education is a complementary component,
through programs dedicated to personal budget management, preventing over-
indebtedness, and understanding financial products.
153
Sustainability Statement 2024, Banca Transilvania Financial Group
The Group also supports SMEs through financial solutions tailored to their needs and
develops products with a sustainability component, including green loans designed to
finance projects with environmental benefits.
Material risks and opportunities
Insufficient access to clear information or to appropriate financial products and services
may affect customer relationships and the performance of the loan portfolio. When the
costs, terms, and risks associated with products are not communicated in an easily
understandable manner, customers may make inappropriate financial decisions, which can
lead to repayment difficulties and a deterioration in the quality of the loan portfolio,
negatively impacting the Group’s profitability.
Furthermore, financial or digital barriers may limit access to banking services for certain
groups of people, particularly in rural areas or among those with limited digital skills. Such
situations can lead to dissatisfaction and affect customer trust, increasing the number of
complaints, with potential reputational consequences for the Group.
To mitigate these risks, the Group offers financial education programs, invests in
digitalization and interactive platforms, and uses clear language in contractual
communications. At the same time, the development of mobile applications and flexible
financial products helps attract new customers and increase service usage.
No material risks or opportunities have been identified that distinctly affect certain
consumer groups. However, vulnerabilities are recognized among older adults, who may
face difficulties using digital channels, and among young people with limited financial
experience, who are at risk of over-indebtedness. For these segments, the Group develops
tailored products and solutions, including financing with flexible terms or programs
dedicated to specific customer categories.
154
Sustainability Statement 2024, Banca Transilvania Financial Group
Policies Regarding Consumers and End Users
Policies for managing material impacts, risks, and opportunities related to consumers
and end users
Policies regarding the protection of consumers and end users are structured around four
main areas, each designed to ensure a regulated and effective framework for customer
safety and rights, as well as for the smooth conduct of banking activities.
Through these strategic directions, the Group aims to create a safe, transparent, and
inclusive financial environment, thereby strengthening consumer confidence in the
services provided.
Depending on the regulated area, all documents and internal frameworks applicable to
consumers and end-users may be valid at both the Bank and Group levels, having been
approved by the CEO or the responsible department heads. These policies are accessible
to employees via the Bank’s intranet and are published on the official website. For Group’s
subsidiaries, these documents are published on their platforms.
Pillar I: Lending
The first area is lending, where customers are protected by the General Terms and
Conditions, applicable to both individuals and legal entities. This document establishes the
general framework of the relationship between the Bank and its customers and includes
information regarding the products and services offered, associated costs, as well as the
rights and obligations of the parties, ensuring transparency and compliance with the
applicable regulations.
The lending process is governed by internal procedures tailored to different customer
segments (e.g., Internal Lending Policy for Individuals, Lending Procedure for Corporate
Clients, etc.), which establish eligibility criteria, lending conditions, and control mechanisms
to ensure a responsible and consistent lending process.
Pillar II: Cybersecurity
The second area of focus concerns information security, a critical domain for protecting the
Bank’s operations, employees, and customers. To this end, the Bank has implemented a
framework comprising 28 internal rules that establish organizational and technical
requirements to ensure a secure operating environment. These define the objectives,
principles, roles, and responsibilities in accordance with applicable external regulations.
Through this framework, the Bank aims to prevent incidents that could affect the
confidentiality, integrity, and availability of data, thereby contributing to strengthening
operational resilience and maintaining customer trust.
For further details, see section 3.6 Cybersecurity and Personal Data Protection.
155
Sustainability Statement 2024, Banca Transilvania Financial Group
Pillar III: Responsible Marketing Practices
The third area of focus concerns ensuring access to clear information and promoting
responsible marketing practices, which are essential for maintaining a relationship based
on trust with the BT customers. To this end, the Bank implements measures and procedures
to continuously assess customers’ experience and satisfaction levels regarding the offered
products and services.
A central tool in this effort is the procedure for measuring customer perception of service
quality, which establishes methods for collecting and analyzing feedback. Through this
process, both the quality of products and services and the interactions between customers
and employees are evaluated. Analysis of the results allows for the identification of areas
for improvement and the adoption of measures to continuously optimize our customers’
experience.
Pillar IV: Confidentiality
The fourth relevant area at the level of BT Group concerns compliance with legislation on
the protection of personal data. In accordance with the General Data Protection Regulation
and the applicable legislative framework, the Bank and the Group entities have
implemented Internal Rules of Procedure and control mechanisms that ensure compliance
with legal obligations and the adequate protection of processed data.
Personal data protection is an essential element of financial and banking activities, given
that such data includes confidential information subject to professional secrecy. The
measures adopted are complemented by the Bank’s cybersecurity framework, which helps
prevent unauthorized access, loss, or misuse of data.
For further details, please refer to Section 3.6 Cybersecurity and Personal Data Protection.
International Standards and Regulations Implemented by the Bank for Customer Safety
Banca Transilvania operates in accordance with a rigorous set of international standards
and legal frameworks designed to ensure the protection of consumers and end-users of
banking services. By implementing these regulations and guidelines, the Bank reinforces
its commitment to financial security, data protection, human rights, and corporate social
responsibility. The adopted standards ensure a stable and secure environment for
customers, partners, and employees, contributing to increased transparency, resilience,
and trust in the financial system.
1. MiFID II – Investor Protection and Financial Market Transparency
BT operates in accordance with the Markets in Financial Instruments Directive (MiFID II), a
key European legal framework related to investors’ protection and an increased
transparency of financial markets. MiFID II regulates investment and trading services, with
the following main objectives: investors’ protection, improving market transparency, and
156
Sustainability Statement 2024, Banca Transilvania Financial Group
ensuring fair and ethical practices in the interaction between financial institutions and
clients. In its operations, the Bank complies with MiFID II requirements, guaranteeing its
clients secure, transparent financial services that meet the highest standards of investors’
protection.
2. PSD2 – Enhanced Security and Innovation in Digital Payments
BT strictly applies the Payment Services Directive (PSD2), which redefines the standards
in the field of electronic payments and banking transactions’ security. This regulation
improves consumer safety and promotes innovation in the financial sector. The bank has
integrated PSD2 requirements into its digital platforms, ensuring customers secure, fast
transactions that comply with the European regulations.
3. EBA Guidelines – Stability and Security in the European Banking Sector
The European Banking Authority (EBA) imposes a set of mandatory guidelines for all
financial institutions in the EU, ensuring their stability, security, and resilience. BT complies
with the EBA Guidelines, applying rigorous risk management measures in the areas of
cybersecurity and data protection, as well as high standards of ethics and compliance,
designed to protect the consumers’ interests. By directly applying these principles, BT
protects its customers against financial and cyber risks, thereby strengthening trust in
banking services.
4. DORA – Operational Resilience in the Digital Age
The Digital Operational Resilience Act (DORA) is a key regulation for strengthening the
operational resilience of financial institutions in Europe.
5. Principles for Responsible Banking – Sustainability and Ethics in the Banking Sector
BT is committed to adhering to the Principles for Responsible Banking (PRB) to align the
banking sector with sustainable development goals. To this end, BT:
• Integrates sustainability criteria into its business strategy;
• Promotes responsible financing and ethical investments;
• Supports initiatives that contribute to environmental protection and community
development.
6. CRR/CRD – Prudential Requirements and Risk Management
The Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD)
form the cornerstone of the banking supervision framework in the European Union. Banca
Transilvania complies with the provisions of the CRR/CRD, ensuring that adequate levels of
own funds are maintained to cover significant risks, and managing credit risk, market risk,
operational risk, and interest rate risk, in accordance with the relevant CRR articles and the
implementation of CRR3/CRD VI requirements, including the incorporation of ESG risks into
the prudential framework, in line with the new European mandates on sustainability. This
157
Sustainability Statement 2024, Banca Transilvania Financial Group
framework strengthens the institution’s financial stability and and protects customers by
maintaining a solid capital level through proactive risk management.
7. BRRD – The European Bank Recovery and Resolution Framework
BT applies the provisions of the Bank Recovery and Resolution Directive (BRRD), which are
essential for protecting depositors and ensuring the continuity of banking services in
severe situations. The alignment with BRRD requirements includes: clear mechanisms for
the conversion or write-down of capital instruments in the event of resolution, and the
harmonization of procedures with national legislation transposing the BRRD. By
implementing the BRRD, BT contributes to maintaining confidence in the financial system
and protecting customers’ interests under stress conditions.
8. Pillar III – Transparency and Disclosure of Prudential Information
The Group periodically publishes comprehensive information regarding its risks, capital,
and prudential profile, ensuring maximum transparency for investors and consumers. Pillar
III reporting is carried out in accordance with: Reg. (EU) 2021/637, which establishes the
format and content of financial institutions’ disclosures; CRR requirements regarding credit
risk adjustments, exposures, capital, and indicators (Art. 435–448); and applicable EBA
updates. The consistent application of these requirements contributes to increased
transparency and confidence in the bank’s operations.
9. EBA Guidelines on ESG Risk Management – Integrated ESG Risk Management
The Bank applies the European guidelines on ESG risk management developed by the EBA,
which include requirements regarding:
• the integration of environmental, social, and governance risks into the overall risk
framework;
• assessing short-, medium-, and long-term risks, including in the context of the
energy transition;
• participation in the climate scenario analysis coordinated by the EBA, as part of the
European Fit for 55 exercise, in which Banca Transilvania was the only Romanian
institution included in the analyzed sample.
The implementation of these guidelines supports the Bank’s alignment with European
sustainability standards and contributes to protecting customers through robust
management of emerging risks.
Engagement and consultation with consumers and end-users
The Group adopts a well-defined and diversified strategy to ensure effective and
continuous communication with consumers and end-users, with the primary objective of
understanding their needs, concerns, and expectations regarding financial products and
services.
158
Sustainability Statement 2024, Banca Transilvania Financial Group
At the Bank level, to maintain a constant dialogue with customers, several feedback
collection mechanisms are used. These include the Net Promoter Score, based on
responses from customers who have interacted with the Bank’s branches, as well as
indicators that assess the quality of interaction between customers and Bank
representatives.
Customers can submit suggestions and complaints through various channels, including
mobile apps, the website, physical branches, social media, and the Call Center.
The Bank also analyzes data on product usage and complaints received to identify potential
issues and continuously improve the products and services it offers.
Measures implemented to address or mitigate negative impacts on human rights
regarding customers
To prevent and address any negative effects on the rights of consumers and end-users,
measures are implemented to ensure transparency, customer protection, and the efficient
resolution of issues that arise.
In the event of complaints regarding lending practices, fees, contract terms, the provision
of information, access to services, or data protection, customers have access to dedicated
mechanisms, including call center support services and official digital channels for
submitting requests and complaints. At the same time, there is ongoing collaboration with
relevant authorities and mechanisms, such as the National Authority for Consumer
Protection, the Center for Alternative Disputes Resolution in the Banking Sector, the
National Bank of Romania, the National Supervisory Authority for Personal Data Processing,
as well as with courts and mediation mechanisms, to ensure compliance and the fair
resolution of any disputes.
Given the specific nature of banking activities, the prevention of risks associated with
human rights violations is supported by compliance policies, governance mechanisms, and
appropriate due diligence processes.
⁙ ⁙ ⁙
During the reporting period, no cases of human rights violations were identified in
relation to customers or in relation to the UN Guiding Principles on Business and
Human Rights, the ILO Declaration on Fundamental Principles and Rights at Work,
or the OECD Guidelines for Multinational Enterprises, to the extent that these are
relevant to the business conducted.
Mechanisms for Engaging Consumers and End Users in Impact Management
To assess how its products and services are perceived, the Bank collaborates with
customers through regular consultations and analyses conducted with the support of
external consultants. Independent studies are used to measure customer satisfaction and
159
Sustainability Statement 2024, Banca Transilvania Financial Group
customer experience. The results of these analyses allow for a comparison of satisfaction
levels with the market average and provide insight into the Bank’s positioning relative to
other industry participants.
In the retail segment, the Bank ranks first among traditional banks, maintaining the upward
trend of the past three years. In 2025, Banca Transilvania also took the topped the
Romanian banking market in terms of customer satisfaction. Studies show that, at the
market level, the most appreciated aspects are the products and services offered, followed
by the interaction with employees and a focus on customer needs. In case of BT, customers
place particular importance on product quality, staff professionalism, and infrastructure,
aspects that positively distinguish the Bank from the market average. These results are
used to adjust strategies and continuously improve our customers’ experience.
In the corporate segment, the Bank ranks second, with an NPS score of 52, compared to
53 for the top-ranked institution. Similar to the retail segment, customers primarily value
the products and services, the interaction with employees, and the ability to meet their
needs. Regarding digital applications, nearly half of respondents believe they’ve already
met their needs and expectations, and suggestions focus on expanding functionality and
simplifying usage.
In addition, the Bank collaborates with relevant organizations and institutions to strengthen
consumer protection and improve access to financial services. These include the Romanian
Banking Association, within the framework of initiatives dedicated to financial inclusion and
education, as well as financial regulatory and supervisory authorities.
Through these collaborations, the Bank contributes to initiatives and consultations aimed
at increasing the transparency and security of banking services.
Aspect
Description
Stage of
collaboration
Collaboration with consumers and end-users takes place throughout
the process of developing and optimizing financial products and
services. This includes identifying customer needs and expectations,
testing and validating financial solutions, and implementing and
improving them based on feedback received.
Type of
collaboration
Periodic satisfaction surveys
quarterly/annually
Focus groups with different
consumer segments.
Periodically, upon the launch of a
new product
Independent market research
conducted by external
consultants.
Periodically
160
Sustainability Statement 2024, Banca Transilvania Financial Group
Collaboration with regulatory
authorities and independent
consumer protection
organizations.
Periodically
Results and
impact
We analyze customer satisfaction and compare it to market
benchmarks.We measure perceptions of collaboration with BT and the
macroeconomic context.
Responsible
function
The Customer Experience & NPS Department, which ensures the
implementation of initiatives to improve customer experience
The Complaints Department ensures the timely resolution of
complaints and reports received from customers.
Engagement
effectiveness
Net Promoter Score (NPS), measures customer loyalty and the
likelihood of recommending the Bank to others.
Customer Effort Score (CES) reflects the effort perceived by
customers in their interactions with the Bank.
Human Interaction assesses the quality and efficiency of direct
interactions with the Bank staff.
Complaints’ resolution time measures how quickly and efficiently the
Bank responds to and resolves the customers’ concerns.
Integration of customer feedback into the processes of developing and updating
products and services
The Policy on Product Approval, Launch, and Modification, adopted at the level of the
Deputy CEO - Retail Banking and the Deputy CEO of SME & Mid-Corporate, provides the
framework for product development and updates. This process aims to integrate the results
of analyses into the overall strategy and address issues identified during the development
phase.
As part of the process, potential risks are assessed and mitigation measures are
established through a structured analysis of commercial, operational, and compliance
implications. The effectiveness of the measures adopted is constantly monitored, and
adjustments are made when necessary.
The process of analysis, approval, implementation, and launch is organized into clear
stages, which helps align products with market requirements and the Bank’s strategic
objectives.
Modifications to an existing product may occur due to various factors, including:
161
Sustainability Statement 2024, Banca Transilvania Financial Group
• The identification of unmet needs among existing or potential customers, or the
emergence of new market requirements that necessitate adjustments to the Bank’s
products or services.
• The emergence of market opportunities that justify optimizing products to respond
more effectively to demand and the competitiveness of the banking sector.
• The possibility of offering new lending facilities to customers following the
conclusion of specific contracts or agreements with guarantee-specialized
institutions, such as FNGCIMM or the EIF.
• Access to external financing or European funds, which may enable the development
of new products and services or the adaptation of the existing ones to meet the
eligibility and usage requirements for these funds.
• Group-level synergy objectives, through which the Bank aims to integrate and
optimize its services in line with the overall strategy of the BT Financial Group.
• The need to comply with legislative or strategic requirements, which require product
adaptations to comply with current regulations and maintain market
competitiveness.
Proposals for launching or modifying products may come from any Bank’s employee,
regardless of their position, whether they work in a regional office, a branch, or at
Headquarters. These suggestions may be submitted in various forms - documents, emails,
phone calls, or through other communication channels - and must be directed to the
Divisions/Departments responsible for managing those products or to those managing the
relationship with the customer segment targeted by the product in question.
In case there is a modification to an existing product or service, it is mandatory to provide
a written notification and involve the relevant Divisions/Departments from the initial phase,
so that the process is managed efficiently and in accordance with Internal Rules of
Procedure. This rigorous process ensures a comprehensive risk assessment, optimal
integration into the Bank’s products portfolio, and full transparency in communicating
changes to stakeholders.
Assessment of the customer engagement processes effectiveness
The effectiveness of customer engagement processes is assessed through the constant
monitoring of performance indicators such as the Net Promoter Score and Customer Effort
Score, which reflect the level of satisfaction and the overall experience of consumers and
end-users.
In addition to these indicators, the way complaints and grievances are managed plays an
important role, as it provides direct insight into areas requiring improvement. The bank has
implemented a structured framework for resolving complaints, focused on transparency,
respecting the rights of complainants, and providing clear and reasoned responses within
the timeframes prescribed by law.
162
Sustainability Statement 2024, Banca Transilvania Financial Group
The time taken to resolve complaints is tracked as a performance indicator. For complaints
not related to payment services, the maximum response time is 30 calendar days from
receipt, and for those regarding payment services, the response is provided within a
maximum of 15 business days, with the possibility of extending this to 35 business days in
exceptional circumstances. Monitoring these deadlines contributes to the continuous
improvement of processes and the strengthening of customer trust.
⁙ ⁙ ⁙
KPI for Complaints and Complex Requests:
Average Resolution Time (calendar days) - 7 days
⟶ % Resolution rate 2025 <=7 days – 68%
⟶ % resolved by 2025 <= 14 days – 83%
Complaints’ management is handled by a specialized unit, the Complaints Management
Department within the Contact Center & Customer Care Division, which analyzes and
resolves each complaint individually. This unit monitors the entire process, collaborates
with other departments to identify optimal solutions, and implements corrective measures
to prevent similar issues in the future.
In 2025, the experience of the customers who chose to interact with the bank through the
Contact Center was constantly monitored, with a focus on service quality and the efficiency
of request resolution. Thus, the post-interaction experience was evaluated using
standardized quantitative indicators. The results obtained highlight a high level of
satisfaction and an increased capacity for efficiently resolving requests.
The post-interaction satisfaction score (CSAT) reached 91%, indicating customers’ positive
perception of the quality of interactions and how their requests were handled.
At the same time, the First Call Resolution (FCR) rate was 92%, reflecting the efficiency of
operational processes and reducing the need for repeated customer contacts.
Processes for engaging with consumers and end-users regarding impacts
Channels available to customers for feedback and complaints
Effective management of feedback and complaints is an important tool for improving
customer relationships and quickly correcting any malfunctions. Access to clear and
transparent reporting channels allows for the identification of issues and the adoption of
necessary measures in a structured manner.
To ensure impartiality and prevent conflicts of interest, complaints involving an employee
or contractor of the Bank cannot be resolved by the person in question or by a direct
subordinate of that person. If an employee receiving a complaint identifies a potential
163
Sustainability Statement 2024, Banca Transilvania Financial Group
conflict of interest, they must inform the Complaints Management Department and their
supervisor and refrain from taking any action regarding the complaint. If the complaint
involves members of Banca Transilvania’s management team, it is escalated to the unit
responsible for managing compliance risk and conflicts of interest.
Customers may submit complaints through various channels made available to them,
including dedicated email addresses, letters addressed to the Bank, via the Bank’s website
or that of each subsidiary, through social media, or in person at the Bank’s headquarters or
any branch.
Entity
Channels for reporting issues/complaints
Banca Transilvania
dpo@btrl.ro
gdprsuport@btrl.ro
myalert@btrl.ro
https://bancatransilvania.whistlelink.com/
investor.relations@btrl.ro
sesizariesg@btrl.ro
conflictinterese-conformare@btrl.ro
contact@btrl.ro
Secure messaging - BT PAY Web Internet Banking
Contact Center: 0264 308 028, *8028,
social media: Facebook
in person, at any BT branch/agency,
in writing, via a letter submitted at any BT
branch/agency or sent to the BT headquarters at 30-
36 Calea Dorobantilor, Cluj Napoca, 400117
BT Direct IFN
contact@btdirect.ro
BT Microfinanțare IFN
dpo@btmic.ro
BT Asset Management
MyAlertBTAM@btam.ro
conformare@btam.ro
BT Capital Partners
myalert@btcapitalpartners.ro
BT Leasing Transilvania IFN
Call Center: 0264303283
aplicația BTmyLeasing
164
Sustainability Statement 2024, Banca Transilvania Financial Group
Improvement Credit Collection
office@iccollect.ro
reclamatii@iccollect.ro
BT Pensii S.A.F.P.F.
reclamatii@btpensii.ro
BRD S.A.F.P.P.
reclamatii@btpensiiplus.ro
BT Leasing Modova
contact@btleasing.md
Departament Client Service:
+(373 22) 260 790
+(373 22) 260 780
BT Broker de Asigurări
dpo@btleasing.ro
Fondul Imobiliar de Investitii
Alternative BT Property
btbuilding@btrl.ro
Salt Bank
SALT: (*7258) sau 037 381 19 13;
In-app chat;
Self-service (FAQs)
Direct call from the app.
Offline message in the app.
Victoria Bank
Customer Support at 1303 (0 30 30 30 00);
at a branch/agency
OCN Microinvest
sesizari@microinvest.md
hot line: 022 802 100
Call-Centre: 022 801 701
Processes through which the company supports or requests the availability of channels
In the field of payments processing and digital services, Banca Transilvania acts in two
distinct roles: as a card issuer and as a payment acquirer. As an issuer, the Bank offers
cards and related services to individuals and businesses, enabling them to make secure
payments and transactions both domestically and internationally. As a payment acceptor,
the Bank provides merchants with solutions for accepting card payments, either through
physical POS terminals or online payment platforms.
For both types of services, customers and business partners have access to dedicated
channels for submitting complaints and requests, including at the bank branches, through
165
Sustainability Statement 2024, Banca Transilvania Financial Group
the Call Center, and via email, thereby ensuring a clear and efficient process for handling
complaints.
Penalties and fines for non-compliance with laws and regulations regarding the provision
and use of financial products and services
⁙ ⁙ ⁙
In 2024 and 2025, there were no environmental fines or penalties.
Penalties and fines for non-compliance with laws and regulations regarding the
provision and use of financial products and services
During the reporting period, Banca Transilvania and the entities within the BT Group
recorded a limited number of fines and non financial sanctions as a result of inspections
carried out by the competent authorities, as well as complaints submitted through
alternative dispute resolution mechanisms. At the Bank level, in 2025, a small number of
fines were imposed, with an immaterial cumulative financial impact, together with non
financial sanctions and warnings, mainly related to operational or procedural matters.
In addition, the Bank was subject to inspections conducted by the National Authority for
Consumer Protection (ANPC), following which administrative sanctions were applied,
reflecting the intensity of supervisory activity across the banking sector. These situations
did not indicate systemic deficiencies and did not have a significant impact on the Bank’s
operational or financial stability.
At BT Group level, the volume of litigation pending before the courts is correlated with the
scale and nature of the activities carried out. For the main entities, the majority of cases
are derived from loan agreements, while non credit related litigation represents a limited
impact. A significant proportion of the cases concluded were resolved in favour of the BT
Group entities, with particularly high success rates for subsidiaries primarily engaged in
lending activities. For certain BT Group entities, no fines or sanctions were recorded for
non compliance with legislation governing the provision and use of financial products and
services during the reporting period.
At consolidated level, compliance, internal control, complaints handling and litigation
management processes are continuously monitored and enhanced, with the aim of
reducing legal and reputational risks and ensuring compliance with the applicable legal
framework and the protection of consumers’ rights.
166
Sustainability Statement 2024, Banca Transilvania Financial Group
Measures to manage significant impacts, risks, and opportunities in customer relations
In its customer relationships, the Group implements measures to manage identified
impacts, risks, and opportunities, aiming to maintain an adequate level of protection and
trust. To this end, actions are implemented to improve access to services, increase
transparency, and continuously adapt products to the needs of different customer
segments.
Development of inclusive financial products
Equitable access to financial products and services is essential for an inclusive and resilient
society. When all social groups can use financial instruments that are secure and tailored
to their needs, a solid foundation is laid for sustainable economic development. Expanding
financial access reduces social disparities, supports entrepreneurial initiatives, stimulates
economic mobility, and encourages innovation in the financial sector, thereby contributing
to collective well-being.
The Group offers its customers a range of solutions designed to support Romanian
individuals and entrepreneurs, regardless of their location, income level, or business size.
These solutions facilitate access to financial products and services, including for people in
rural areas or with limited accessibility.
For the retail segment, the Group develops products and services tailored to different
customer categories, considering the specific needs of working adults, young people,
students, children, and retirees. The offer includes checking accounts, cards, savings and
investment products, consumer and mortgage loans, as well as digital solutions that
facilitate personal finance management.
Banca Transilvania supports consumers and end-users through a diverse range of lending
services, designed to responsibly meet the financial needs of the population and facilitate
equitable access to financing. The retail loan portfolio includes consumer loans, such as
the Personal Loan, which offers flexibility in covering current needs, as well as mortgage
loans: Home Loan, Mortgage Loans, Fixed-Rate Mortgage Loans, Variable-Rate Mortgage
Loans, Green Mortgage Loans, and the Prima Casă/Noua Casă program, which supports
access to housing, including through solutions with a low environmental impact.
The bank also offers consumers auto/vehicle loans, including loans for new and used cars,
as well as revolving credit products such as Star Card, BT Flying Blue – credit card, Visa
Gold credit card, Visa Platinum credit card, and Mastercard Forte credit card. Access to
financing is complemented by digital solutions offered through the BT Direct online loan,
contributing to an accessible, transparent banking experience tailored to different
categories of end users.
The bank also offers products tailored to the needs of young people, such as the BT
Omnipass card, which includes benefits such as free account opening and card issuance,
167
Sustainability Statement 2024, Banca Transilvania Financial Group
travel insurance abroad at no additional cost, and discounts available through the Omnipass
program. To benefit from these advantages, customers must be aged between 14 and 30
years old.
Financial solutions for children include the Kiddo debit card and the BT Pay Kiddo app,
which help foster healthy financial habits from an early age, under parental guidance. In
this way, we build a solid foundation for financial education and independence, providing
young people and children with the tools needed to manage their financial resources
responsibly.
For non-retail customers, Banca Transilvania supports responsible economic development
and business continuity through a structured range of loans. This includes working capital
products, such as the quick loan or the quick credit line. For the acquisition or development
of real estate assets, the following products are available: the Corporate Real Estate Loan,
the Mortgage Loan for Legal Entities, and the Real Estate-Secured Loan; and
entrepreneurial initiatives in the agricultural sector are supported through a dedicated
product - the Agricultural Loan. The sustainability dimension is also reflected in green loans,
intended for sustainable agriculture, water and waste management, green energy, and
energy efficiency. Operational financing needs are complemented by instruments such as
discounting and factoring.
The corporate client category is also defined in the Bank’s Sustainable Finance Framework.
a) Financing and/or refinancing of SMEs, aimed at creating jobs and programs
designed to prevent and/or mitigate unemployment, as well as climate transition
projects. SMEs targeted categories are:
• those located in socio-economically disadvantaged areas* (nationwide),
• those owned by women,
• those owned by young people,
• start-ups (newly established, no older than three years),
• owned by farmers engaged in self-employment in socio-economically
disadvantaged areas.
b) For access to healthcare, financing and/or refinancing the construction and/or
operation of medical care, primary palliative care, and/or dialysis and/or oncology
facilities:
• healthcare facilities: private hospitals affiliated with the national health
system
• primary care facilities: free primary healthcare facilities affiliated with the
national health system,
• palliative care centers: private palliative care facilities (hospices) affiliated
with the national health system,
• dialysis and oncology facilities: private dialysis and oncology centers
affiliated with the national health system.
168
Sustainability Statement 2024, Banca Transilvania Financial Group
c) Financing and/or refinancing the construction and/or operation of educational
facilities and/or student housing:
o Educational facilities: public educational institutions, such as schools,
universities, student housing, and Level 3 housing, as well as vocational
training centers.
*Socio-economically disadvantaged areas = areas that meet the following criteria: (i) GDP per capita is lower than the national
average; (ii) GDP per capita in purchasing power standard (PPS) is less than 75% of the EU-27 average.
Solutions tailored for micro-enterprises are offered through BT Mic and include the Loan
for Small Businesses, the Loan for Small Businesses in Agriculture, the Loan for Small
Businesses in Education, and loans backed by European Guarantees.
Victoriabank offers consumer loans and flexible financing solutions, such as the Consumer
Loan, Secured Loan, Express Online Loan, and Overdraft, as well as credit card products,
including the STAR Card and STAR Card Platinum. The portfolio is complemented by real
estate loans: the Real Estate Loan, the Real Estate Refinancing Loan, and the Prima Casă
Plus program loan, which supports access to housing and the responsible management of
personal finances. For legal entities, Victoriabank offers financing solutions to support
current operations and further development of corporates, including working capital loans,
credit lines, overdrafts, loans for agricultural investments, as well as factoring and financing
through special programs that may include guarantees, interest subsidies, or other
incentives. This offering reflects the bank’s commitment to supporting end-users and the
business community through accessible, diversified lending instruments tailored to the
current economic context.
The development and provision of inclusive products and services represent one of the
ways in which the Group addresses the impacts, risks, and opportunities identified in its
relationship with customers. This initiative is implemented across the Bank’s entire network,
with products available through both physical branches and digital channels.
The actions through which the Bank manages the impacts, risks, and opportunities in its
relationship with customers are integrated into the process of developing and updating
products and services. Their launch and adaptation represent a continuous process, carried
out based on an internal schedule that establishes clear stages of analysis, approval,
implementation, and monitoring. Products are reviewed periodically, including from the
perspective of the clarity of contractual terms and the accessibility of information, and
adjustments are made based on market developments and customer feedback.
To mitigate potential negative impacts on consumers, protective mechanisms and relevant
institutional partnerships for handling complaints are maintained. The effectiveness of
these measures is monitored using performance indicators such as the Net Promoter Score,
Customer Effort Score, and Human Interaction Score, as well as by tracking complaint
resolution times. The necessary resources are allocated in accordance with the annual
169
Sustainability Statement 2024, Banca Transilvania Financial Group
budget, including for the continuous development and optimization of digital products and
channels.
Servicii financiare pentru toți
The Group continued to strengthen access to financial products and services for
underserved and rural communities by expanding access points and digital channels.
At Banca Transilvania, data from the past three years reflect both the increasing level of
digitalization in rural areas and the diversification of financial infrastructure.
Banca Transilvania: Access points in economically underdeveloped or
less populated areas
2025
2024
% of digital customers among BT’s rural customers
76.00%
69.00%
% of rural customers among digitized customers
17.00%
15.40%
ATMs in rural areas
9.00%
6.80%
POS terminals in rural areas
12.00%
11.20%
Cardholders in rural areas
18.00%
16.50%
Victoriabank contributes to expanding financial access in the Republic of Moldova,
including in sparsely populated areas or those with limited economic development. The
evolution of its infrastructure over the past two years demonstrates a steady increase in
access points and the use of modern financial services.
Victoriabank: Access points in economically
underdeveloped or less populated areas
2025
2024
Nr. of branches
32
30
Nr. of ATMs
132
122
Nr. of Pos terminals
4,114
3,302
Cards
316,912
260,686
170
Sustainability Statement 2024, Banca Transilvania Financial Group
BT Direct
In 2025, 51.16% of BT Direct cardholders were from rural areas, up from 50.18% in 2024.
This progress reflects the expansion of financial services accessibility for underserved
segments of the population. At the same time, customers who receive a BT Direct card are
enrolled in a financial education program within one month of issuance: they are contacted
by phone and receive information about the card’s features and responsible use, based on
an educational script.
BT Mic
BT Mic offers lending solutions for early-stage entrepreneurs and businesses with annual
revenue of up to RON 1 million, regardless of their legal status: authorized sole proprietors,
sole proprietorships, freelancers, agricultural producers, or NGOs. Most of BT Mic’s clients
are family businesses, deeply rooted in the communities where they operate, thereby
contributing to local economic development and increasing the resilience of rural areas.
BT Mic
2025
2024
Growth in loan balances compared
to the previous period
31.23%
31.02%
Increase in the number of financed
customers compared to the
previous period
22.73%
24.97%
Number of clients financed since
launch
43,409
35,369
No. of loans granted since launch
61,223
49,004
Total amount granted since launch
3,921,460,839
2,988,145,032
Loans granted during the year
12,219
10,167
Outstanding loans granted to
customers with female
shareholders
13,170
10,905
Loans granted during the year to
customers with female
shareholders
5,005
4,322
Outstanding loans granted to
customers with shareholders
under 30 years of age
4,646
3,876
Loans granted to customers with
less than 30 years of ownership
1,811
1,484
BT Mic First lender (among new
customers financed)
69.4%
73.50%
Loans granted to startups within
the year (<=18 months)
23.4%
23.70%
171
Sustainability Statement 2024, Banca Transilvania Financial Group
BT Mic Success Stories
MAVTEAM SERV – Celebrate Space
In 2025, MAVTEAM SERV, a startup with an all-female entrepreneurial team, secured
financing through BT Mic to develop a space dedicated to hosting events for children and
adults, under the Celebrate Space concept.
The investment focused on setting up and equipping a multifunctional space in Bucharest,
which includes a modern indoor area, a fully equipped kitchen, a relaxation area, and an
outdoor courtyard. The business model is geared toward organizing private events, such
as birthdays and themed parties for children, as well as meetings or traning sessions for
adults.
Through this funding, the company has strengthened its operational capacity and created
a suitable framework for developing an integrated event planning service, while also
contributing to the support of women’s entrepreneurial initiatives in urban areas.
SUIIT
SUIIT is a startup in the artisanal dessert production sector, with less than 18 months of
operational activity at the time the loan was granted. In 2025, the company received a
financing from BT Mic for the purchase of equipment, the renovation of the production
space, and working capital support.
The business model focuses on the production of premium desserts, made in-house, with
an emphasis on quality, consistent standards, and operational efficiency. In addition to
direct sales, the company also offers manufacturing services for partners in the HoReCa
sector, helping to optimize costs and ensure constant control over food quality and safety.
The funding supported the consolidation of the production infrastructure and the
development of the company’s capacity to meet the growing demand present in the
artisanal desserts segment.
Digitalization for Accessibility
Digitalization continues to be a strategic pillar in expanding access to financial products
and services, helping to reduce traditional barriers, whether geographic, economic, or
related to knowledge levels. Through simple, efficient, and scalable technological solutions,
the Group facilitates customer access to relevant services at any time and from any
location.
Customers are showing increasing interest in modern solutions that streamline the
management of financial services. Among the frequently used digital tools are virtual cards,
172
Sustainability Statement 2024, Banca Transilvania Financial Group
credit products, savings, investments, insurance, and private pensions, all integrated into a
unified digital ecosystem.
Digitalization plays a fundamental role in transforming the banking sector and directly
contributes to sustainable development goals. It promotes financial inclusion, reduces the
carbon footprint, and supports the transition to a sustainable, low-emission economy. By
2025, the Bank facilitated access to financial services for segments of the population that
previously lacked consistent interaction with the traditional banking system, by expanding
access to mobile and online services. As a result, banking products and services have
become more accessible to people in remote or underserved areas, helping to reduce
economic and social disparities.
At the same time, the transition to digital processes has generated significant benefits in
reducing the environmental impact. The migration of operations from the physical to the
digital environment limits the consumption of paper and resources, and remote access to
banking services reduces the need for travel, thereby lowering the carbon emissions
associated with traditional operations.
The digitization process continued in Banca Transilvania during 2025, contributing
significantly to expanding access to financial services and improving the customers’
experience. These developments reflect a consistent growth compared to 2024, both in
terms of the number of digital users and the volume of transactions processed through
digital channels.
The number of digital customers reached 4.9 million in 2025 (4.4 million in 2024),
reinforcing the shift toward digital solutions and confirming their preference for fast, secure,
and accessible interactions. The number of active cards grew from 7 million in 2024 to 8.1
million in 2025, with Banca Transilvania maintaining its leading position in the card market.
At the same time, transactions made with BT cards recorded an annual growth of 19%,
continuing the positive trend observed during the last years. Credit cards exceeded
769,000 units in 2025, thus contributing to the diversification of the portfolio of digitally
used products.
Mobile payments increased by 29% in 2025 compared to 2024, and the number of unique
cards enrolled in BT Pay, Apple Pay, Google Pay, Fitbit Pay, and Garmin Pay reached 5.7
million in 2025 from 4.5 million in 2024, confirming the accelerated adoption of digital
wallets.
Money transfers initiated via the BT Pay app increased by 70% in 2025 compared to 2024,
while the volume of non-card digital transactions grew by 24% compared to 2024,
reflecting the gradual shift from traditional operations to integrated digital solutions.
Thanks to the continuous expansion of its digital and physical infrastructure, by the end of
2025 BT had a network of: 2,031 ATMs (compared to a smaller network in 2024), including
696 multifunctional ATMs and 577 BT Express terminals used for non-cash transactions,
173
Sustainability Statement 2024, Banca Transilvania Financial Group
over 178,000 installed POS terminals and 40,000 STAR partner locations with partnerships
covering over 8,000 e-commerce merchants, an increase from the previous year.
BT Chat continued to be a relevant digital support tool, exceeding 1.5 million interactions in
2025. The new technological optimizations resulted in over 80% of requests being resolved
automatically, while only 20% of the conversations required human intervention by
consultants.
In addition, the launch of the feature to enroll in a voluntary pension fund (Pillar III) directly
through BT Pay, in August 2025, generated over 8,600 new enrollments, thus consolidating
the list of long-term savings products integrated into the bank’s digital ecosystem.
Digital Accessibility
Digital accessibility is a strategic priority for Banca Transilvania, in line with the bank’s
commitment to providing inclusive financial services that comply with Law No. 232/2022
and the international WCAG (Web Content Accessibility Guidelines) standards.
These are a set of international standards that establish how digital websites and
applications should be designed and developed so that they are accessible to all users,
including people with disabilities.
The Bank aims to ensure equitable access to its digital platforms for all users, including
people with disabilities, as the full requirements take effect on June 28, 2025.
In 2025, BT continued its website accessibility program, based on the external audit
conducted for the desktop and mobile versions of the apps. Given the complexity and
volume of content, accessibility remains a gradual process, with WCAG-compliant versions
being released successively. A significant step forward is the implementation of the
accessibility widget, which allows users to customize the interface by adjusting contrast,
enlarging text, enabling dyslexia-friendly mode, disabling animated elements, and
simplifying navigation for users with visual or cognitive impairments.
In parallel, the Bank has initiated the process of adapting the BT Pay app, based on a partial
audit conducted for screens critical from the users’ perspective. The implementation of the
recommendations is managed internally and aims to optimize visual elements, increase
contrast and readability, adapt interactive areas for users with motor impairments, improve
the logical structure, and ensure full compatibility with screen readers.
At the same time, BT has published its Accessibility Statement, available on the website
under the “Diversity & Inclusion” section.
The document outlines the institution’s commitment to accessibility, the results of the June
2025 audit indicating partial compliance with the in-place requirements, as well as the main
barriers identified (lack of text alternatives, inaccessible semantic structure, insufficient
contrast, and difficulties navigating exclusively with the keyboard). The statement also
174
Sustainability Statement 2024, Banca Transilvania Financial Group
includes a remedy plan, which provides for the gradual implementation of compliant
versions and periodic updates based on progress made.
In addition, the bank has established a feedback mechanism for reporting accessibility
issues, with users able to use the dedicated section on the website and the email address
accesibilitate@btrl.ro , with a response time of up to 30 days.
Through these measures, Banca Transilvania is strengthening its commitment to digital
inclusion, equal access, and progressive compliance with European and national
accessibility legislation.
BT Go
Continuing its efforts to support the SME sector, BT has dedicated time and resources to
effectively improving the all-in-one banking platform for entrepreneurs, BT Go, which has
become an adaptable business ecosystem. By the end of 2025, the adoption and usage of
the service had grown significantly, with the number of users reaching 330,767 and the
volume of transactions reaching 29 million, with an impressive cumulative value of RON 329
billion.
The platform offers a useful set of features:
• Fast payments and transfers
• Standard and negotiated exchange rates
• Opening and closing of standard and negotiated deposits
• Viewing/managing limits and blocking/unblocking cards
• Statement download FGO and RO e-Invoice integration
Digitization at BT Mic
In the area of digitalization and financial inclusion, BT Mic significantly simplified the loan
application process by introducing Raul chatbot, a user-friendly digital channel that
generated 23.3% of all financing requests in 2025.
Through the Stup platform, BT Group continued in 2025 to support the professionalization
of Romanian entrepreneurs, contributing to increased operational efficiency and facilitating
access to digital tools essential for sustainable business development.
Throughout 2025, over 1,900 unique companies accessed the digital solutions available on
Stup, purchasing more than 3,100 digital products dedicated to online commerce and the
digitization of business processes, such as electronic signatures, invoicing solutions, digital
cash flow, and courier services. These solutions have supported tax compliance,
transparency, and good governance in the operations of small and medium-sized
enterprises. By the end of 2025, the Stup community had cumulatively reached over 20,000
products accessed.
175
Sustainability Statement 2024, Banca Transilvania Financial Group
Through these initiatives, Stup actively contributes to the digital inclusion of the
entrepreneurial environment, the improvement of governance practices, and the
development of a more resilient and sustainable economic ecosystem in Romania.
In 2025, “Raul de la BT” chatbot, dedicated to entrepreneurs at BT Mic, has become an
important tool for digital inclusion, facilitating rapid access to financial information and
essential services for over 51,853 unique users, including 44,699 authenticated customers
who interacted with it on a recurring basis. In total, over 1 million messages were
exchanged, with the chatbot receiving 528,278 and sending 1,022,139, thus demonstrating
a high level of usage and operational reliance for entrepreneurs. The most accessed flows
were Account Balance (59.32%), CE/BO Request (21.74%), and Garnishment Info (7.68%),
reflecting the real needs of small and medium-sized businesses for rapid and autonomous
management of financial information. Additionally, 13,257 customers provided feedback on
various workflows, mostly on CE/BO Request (83.59%), and the overall experience with the
chatbot was rated as “very good” by 75.95% of the users and “good” by another 12.79%,
thus confirming its role in reducing digital barriers and increasing easy access to banking
services for entrepreneurs in the BT ecosystem
Victoriabank
In 2025, the VB24 app maintains its role as an essential digital channel for interacting with
individual customers, ensuring permanent access to banking services. Available both as a
mobile app via Google Play and the App Store and as a web version, the app allows users
to open accounts and cards, make payments, and easily manage their banking relationship
at any time. The MIA Instant Payments service remains integrated into the bank’s digital
ecosystem, offering the ability to send and receive transfers in seconds - based on a phone
number, without entering card details. Transfers are made in MDL between domestic bank
accounts, quickly and securely.
Available features include P2P transfers based on aliases, R2P payment requests, QR code
payments, and Me2Me transfers between personal accounts held at participating financial
institutions. The app also allows for the direct payment of government securities purchased
through the evms.md platform, expanding users’ access to investment services via the
digital channel.
BT Direct
In 2025, digital accessibility for BT Direct customers continued to advance, with a
significant increase in the use of the BT Pay app. The number of BT Direct cards enrolled
in the app reached 58,487, surpassing the 2024 level of 54,357, representing an increase
of 4,130 cards (+7.6%) and indicating an increasingly solid adoption of digital channels.
Although the online portal was accessed by 6,884 customers in 2025, a decrease from the
previous year, the available features (i.e. mobile payments, viewing card details, confirming
176
Sustainability Statement 2024, Banca Transilvania Financial Group
online payments, checking balances, and reviewing recent transactions) helped facilitate
digital interaction and modernize the BT Direct customer experience.
BT Capital Partners
The BT Trade (EVO) desktop trading platform and the BT Trade apps for iOS and Android
allow clients to place, modify, and cancel trading orders online. Additionally, the BT Trade
(EVO) platform and the BT Trade mobile app allow for the opening of trading accounts
exclusively online; the documents required for account opening are accepted directly within
the platform, eliminating the need to print or sign physical documents. To minimize paper
usage, orders from clients assisted by a broker are primarily taken over the phone or via
email; paper orders are permitted only in exceptional circumstances.
New contract
2025
2024
On-line
84%
81%
Paper
16%
19%
Total
100%
100%
Orders
2025
2024
On-line
99%
99%
Paper
<1%
1%
Total
100%
100%
Total number of customers
2025
2024
Online
71%
65%
Assisted
29%
35%
Total
100%
100%
The BT Visual Help System
BT Visual Help is Banca Transilvania’s digital self-service platform, designed to help
customers quickly access information about their bank accounts and products directly from
their phone, without waiting on hold or interacting with an agent.
177
Sustainability Statement 2024, Banca Transilvania Financial Group
BT Visual Help plays a new role in the support ecosystem: educating customers on BT Pay
features. BTVH is connected to BT Pay for common requests and for support provided via
ChatBT. Thus, in 2025, 4.9 million visual sessions were initiated, thanks to the numerous
new features in BT Pay and the migration of customers to the native app.
The CSAT score, which reflects customer satisfaction measured at the end of a visual
session by completing the feedback form, was 93% in 2025.
Ask BT
Ask BT is an online platform, designed as a search engine, with over 2,000 questions and
answers about banking, as well as about the products and services of Banca Transilvania
Group companies. Thanks to the integration of artificial intelligence, people searching for
information using AI Search receive a comprehensive answer to their online questions,
based on all the details available on Ask BT regarding that topic
• Over 3.5 million people visited the site in 2025, and nearly half a million did so to
chat with AI Search
• On average, visitors ask 3 questions via AI Search and stay in the conversation for
about 3 minutes
• Visitors’ interest has shifted from year to year, so the most searched-for information
is about the BT Pay and BT Go apps and about BT products and services
• Nearly 80% visit the site from a mobile phone, and 55% landed on the website via
direct access.
• From abroad, the site is visited mainly from Germany, the UK, Italy, Spain, and
France. The number of visits from the Republic of Moldova has increased year over
year.
Banca Transilvania integrates artificial intelligence into its online communication, services,
and processes, using both Robotic Process Automation (RPA) and Large Language Models
(LLM).
BT Dialog Branches
BT Dialog branches offer free, personalized financial advice, ranging from loans and related
products to insurance and digital solutions, making them the perfect place for the Bank to
engage in an open dialogue and find personalized solutions for each client.
⁙ ⁙ ⁙
There is currently a network of 42 Dialog branches, and customers can find their
locations directly on the BT website, in the branch network section.
178
Sustainability Statement 2024, Banca Transilvania Financial Group
Measures implemented to address or mitigate a real material impact
To address the actual impact on consumers and end-users, the Bank has implemented
concrete measures designed to ensure easy access to relevant information about the
products and services offered. Thus, consumers have access to up-to-date details via the
dedicated micro websites of each entity of the Group, but also in the BT branches and
units, where essential information, such as the list of fees and charges, is available in the
customers’ information booklet.
Regarding consumer safety, Banca Transilvania pays special attention to informing and
protecting its consumers in the digital environment. A dedicated blog-style page, BT Online
Security, has been launched, where essential topics such as fraud, cyberattacks, online
shopping security, the proper use of ATMs, and the protection of entrepreneurs against
digital risks are addressed. The page also includes a special section for news, providing
constant updates on the types of fraud and practical methods users can use to protect
their data and bank accounts. Details on the measures and actions implemented by the
Group during the reporting period can be found in section 3.6, Cybersecurity and Personal
Data Protection.
Additional initiatives or processes primarily aimed at generating positive outcomes for
consumers and end users
Since its launch, Banca Transilvania has been actively involved in supporting entrepreneurs
by providing accessible financial products and services, financial education, and
personalized advice. Through these initiatives, BT has facilitated the development of small
businesses and startups, ensuring they receive clear, transparent, and easy-to-understand
information to make responsible financial decisions.
To support entrepreneurs even more effectively, BT has created dedicated business lines,
contributing to the building of a robust and sustainable entrepreneurial ecosystem. In this
way, the Bank maintains its commitment to adding value to the communities in which it
operates, offering financial solutions tailored to the specific needs of early-stage
businesses.
A key pillar of BT’s strategy is the continuation of partnerships with international financial
institutions (IFIs), such as the European Investment Fund (EIF), the International Finance
Corporation (IFC), and the European Bank for Reconstruction and Development (EBRD).
These collaborations enable the implementation of financing programs with a social and
environmental component, designed to support education, women’s entrepreneurship,
financial inclusion, and the reduction of negative environmental impacts.
In addition, BT includes in its social financing framework client groups that need access to
essential services (in line with SDG 11 – Sustainable Cities and Communities) and supports
job creation (in line with SDG 8 – Decent Work and Economic Growth). A major objective of
the Bank is to facilitate access to financing for those categories that are not normally
179
Sustainability Statement 2024, Banca Transilvania Financial Group
supported by state aid, thereby offering broader opportunities for economic growth and
sustainable development.
Details about the sustainable financing products developed by the Group’s entities can be
found in subsection 3.3 Sustainable Financing.
Monitoring and assessing the effectiveness of actions or initiatives implemented for
customers
Tools such as NPS (Net Promoter Score) an indicator that measures customers’ willingness
to recommend the bank) and HI (Human Interaction) an indicator that assesses the quality
of customer–colleague interaction, specifically friendliness, clarity of answers, and the
ability to meet the customer’s needs) are used to track and evaluate the effectiveness of
the actions and initiatives implemented for customers, providing a clear picture of the level
of satisfaction, loyalty, and on the quality of interactions.
In 2025, the NPS for customers who performed transactions in the branches/units of BT
was 86.25, and the HI recorded a score of 98.65, remaining at a very high level and posting
an increase compared to the previous year. The results are based on nearly 80,000
feedback responses, of which approximately 75,000 came from retail customers and 5,000
from corporates.
Internally, customer satisfaction is monitored at multiple touchpoints: when opening an
account, both in-branch and via digital applications; after completing a transaction in-
branch; at the product level, in the context of launching new digital features; and in the
evaluation of the overall relationship with the bank, including during the termination of the
contractual relationship. This research provides relevant insights for the continuous
improvement of the customers’ experience.
The “reception concept” implemented across the BT network significantly contributes to
an increased level of satisfaction. In situations where customers receive a dedicated
“welcome” from a colleague who provides quick guidance and predictability, the NPS
increases by over 25 points. A similar effect is observed when alternatives are offered for
performing transactions through digital channels or self-service machines.
Implementing the closed-loop feedback process by analyzing and resolving every
actionable element received through feedback, led to 85% of the passive customers
becoming promoters and 50% of detractors becoming promoters. In 2025, issues reported
by over 1,800 customers were addressed, 88% of which were resolved. Additionally, nearly
2,500 messages of appreciation regarding the interactions at branches were recorded.
Resources Allocated for Managing Material Impacts
To ensure equitable access to quality information, relevant financial products and services,
as well as to guarantee the confidentiality of customer data, the Group allocates significant
180
Sustainability Statement 2024, Banca Transilvania Financial Group
resources to the development and implementation of the actions described above. These
resources come from both internal sources and funding raised through bond issuances or
participation in financing programs developed in partnership with international and
supranational organizations. This blended approach ensures the sustainability of the
investments needed to effectively manage material impacts and fulfill the commitments
made to the Group’s customers.
181
Sustainability Statement 2024, Banca Transilvania Financial Group
3.3 Sustainable Financing
The Role of Sustainable Finance in the BT Group’s Strategy
Sustainable financing is one of the strategic directions through which the BT Group
contributes to the transition to a low-carbon economy and to supporting sustainable
economic development in Romania. As the main financier of the local economy, the bank
plays a key role in directing capital flows toward economic activities that reduce
environmental impact, promote the efficient use of resources, and support inclusive
economic growth and long-term resilience.
The BT Group’s approach begins with a structured analysis of the financing portfolio and
the interaction between lending activities and the real economy. In this context,
sustainability criteria are progressively integrated into lending and risk management
processes, as well as into dialogue with clients, with the aim of supporting their adaptation
to an economic environment characterized by increasing pressures related to the climate
transition, resource efficiency, and long-term competitiveness requirements.
The relevance of sustainable financing is underscored by Romania’s macroeconomic and
social context, marked by the need to accelerate investments in energy efficiency,
renewable energy, modern infrastructure, and technology. Although Romania’s economy
has continued to show positive momentum in recent years, the process of convergence
toward the European Union average remains incomplete, and the benefits of economic
growth are not evenly distributed across regions and segments of the population.
According to preliminary Eurostat data for 2024, Romania stands at approximately 78% of
the EU average in terms of GDP per capita expressed in purchasing power parity. On the
social front, significant disparities in income distribution persist, particularly between urban
and rural areas, as well as across regions. Although the Gini index improved in 2024, income
inequality remains a structural challenge. At the same time, World Bank data indicate that,
between 2018 and 2023, the growth in real incomes of the most vulnerable segments of
the population lagged behind the growth rate of the total population, highlighting the
persistence of vulnerabilities in the labor market.
In this context, small and medium-sized enterprises continue to play a central role in
Romania’s economy, accounting for nearly all companies in the non-financial sector and
employing a significant share of the workforce. This segment’s ability to invest in
modernization, energy efficiency, new technologies, and digitalization is essential for
sustaining economic growth and accelerating the transition to a more sustainable
development model.
To support this structural transformation, the European investment and financing
framework places a strong emphasis on mobilizing investments through dedicated
instruments, such as the National Recovery and Resilience Plan and the Structural and
Cohesion Funds for the 2021–2027 period. These mechanisms create significant financing
182
Sustainability Statement 2024, Banca Transilvania Financial Group
opportunities for green and digital transition projects, with a direct impact on the
competitiveness and resilience of SMEs.
However, capitalizing on these opportunities depends directly on companies’ access to
bank financing, which is necessary both for co-financing projects and for covering the
capital needs associated with their implementation. Given the high cost of borrowing and
collateral requirements, access to financing remains a structural constraint for many
companies, reinforcing the role of financial institutions in facilitating the absorption of
European funds and supporting investments with long-term impact.
In this macroeconomic context, sustainable financing is emerging as a key mechanism for
directing capital toward investments that address both environmental and social
challenges, but especially long-term economic growth objectives. Through its lending
activities, the BT Group contributes to supporting these investments by facilitating access
to capital for various segments of the economy and supporting processes of adaptation to
climate change, modernization, and sustainable development.
Specifically, the role of sustainable finance in the BT Group’s strategy is reflected in:
• supporting economic development and access to financing, particularly through
financing micro, small, and medium-sized enterprises;
• supporting the transition to a low-carbon economy by financing energy efficiency,
renewable energy, sustainable infrastructure, and innovative technology projects;
• channeling capital toward economic activities with a positive impact on the
environment and society by integrating ESG criteria into lending processes and
using internationally recognized frameworks and methodologies to identify and
classify sustainable financing.
At the same time, the structure of the loan portfolio reflects how the BT Group’s financing
activities interact with the key sustainability themes identified in the Group-wide double
materiality analysis. The distribution of exposures by economic sector allows for an
assessment of the relevance of different business areas in terms of their impact on the
environment and society, as well as the risks and opportunities associated with the
transition to a more sustainable economy.
The table below presents the structure of Banca Transilvania’s and BT Group’s loan
portfolio, broken down by economic sector, highlighting the distribution of exposures as of
2025.
183
Sustainability Statement 2024, Banca Transilvania Financial Group
Loan portfolio by economic sector
(NACE Rev.2.1)
%2025
BT
%2024
BT
%2025
GFBT
%2024
GFBT
A. Agriculture, forestry and fishing
4.45%
4.87%
5.01%
5.63%
B. Mining and quarrying
0.24%
0.10%
0.25%
0.15%
C. Manufacturing
6.41%
6.74%
6.85%
7.18%
D. Electricity, gas, steam and air conditioning supply
2.69%
2.17%
2.62%
2.12%
E. Water supply; sewerage, waste management and remediation
activities
0.36%
0.31%
0.42%
0.40%
F. Construction
2.84%
3.08%
3.64%
3.87%
G. Wholesale and retail trade
8.32%
9.54%
10.02%
10.86%
H. Transportation and storage
3.12%
3.16%
4.19%
4.18%
I. Accommodation and food service activities
1.61%
1.38%
1.88%
1.68%
J. Publishing, broadcasting, and content production and distribution
activities
0.06%
0.06%
0.10%
0.09%
K. Telecommunication, computer programming, consulting, computing
infrastructure and other information service activities
1.06%
0.63%
1.29%
0.76%
L. Financial and insurance activities
7.95%
8.27%
1.11%
1.32%
M. Real estate activities
5.35%
3.77%
5.16%
4.67%
N. Professional, scientific and technical activities
0.82%
0.87%
1.29%
1.38%
O. Administrative and support service activities
0.79%
0.73%
1.22%
1.04%
P. Public administration and defence; compulsory social security
10.77%
11.75%
10.06%
10.05%
Q. Education
0.09%
0.08%
0.17%
0.15%
R. Human health and social work activities
2.08%
2.42%
2.22%
2.27%
S. Arts, sports and recreation
0.20%
0.63%
0.32%
0.63%
T. Other service activities
0.41%
0.42%
0.82%
0.64%
U. Activities of households as employers and undifferentiated goods -
and service-producing activities of households for own use
0.00%
0.00%
0.00%
0.00%
V. Activities of extraterritorial organisations and bodies
0.00%
0.00%
0.00%
0.00%
INDIVIDUALS
40.38%
39.05%
41.37%
40.93%
Total
100%
100%
100%
100%
To ensure the comparability of the data presented, the distribution of the loan portfolio for
2024 has been transposed into the NACE Rev. 2.1 classification structure applicable as of
January 1, 2025. This adjustment reflects solely an update to the sectoral classification and
does not imply any changes to the exposure values.
184
Sustainability Statement 2024, Banca Transilvania Financial Group
Policies and Frameworks for Sustainable Financing
To operate this strategic role and direct capital flows toward economic activities with a
positive impact on the environment and society, the BT Group utilizes a set of internal
policies, assessment methodologies, and frameworks dedicated to sustainable finance
used in capital markets. These tools enable the channeling of capital toward sustainable
economic activities, as well as the classification and monitoring of sustainable financing
provided to clients.
In practice, the BT Group’s approach is based on two complementary mechanisms:
• internal policies and methodologies applied in day-to-day lending activities, through
which sustainable financing provided to clients is identified, assessed, and
classified;
• the BT Group’s Sustainable Financing Framework, used for issuing green, social, or
sustainable financial instruments and for allocating the funds raised to eligible loan
portfolios.
Sustainable Lending Policy in Day-to-Day Lending Activities
At the operational level, the European Programs and Green Loans Department is the
specialized unit within the bank responsible for coordinating and consolidating sustainable
financing activities. The department plays a central role in developing and implementing
sustainable financing products across the bank’s business lines, helping to identify sectors,
industries, and clients with the potential for positive impact, as well as relevant financing
programs and opportunities. At the same time, it ensures the definition of structures,
workflows, and rules applicable to sustainable lending, the transfer of know-how to the
regional network and business lines, as well as the incorporation of European, national, or
international partner requirements into the internal lending framework.
The department’s activities are governed by the Internal Instruction on Sustainable
Financing, a document that establishes the criteria for identifying, classifying, and
monitoring financing with a positive impact on the environment or society. The Instruction
defines the methodology used by the bank to identify and label sustainable loans in the
lending portfolio and describes the main categories of eligible financing.
Categories of financing with a positive impact on the environment
Under the internal methodology, financing with a positive impact on the environment is
structured into eight main categories, each of which is aligned with the United Nations
Sustainable Development Goals.
185
Sustainability Statement 2024, Banca Transilvania Financial Group
Renewable Energy (RE)
Financing in this category targets investments in infrastructure or equipment that enables
the production or use of energy from renewable sources, such as solar, wind, hydro,
geothermal, biomass, or biogas.
Eligible projects include the construction or installation of renewable energy production
capacity, as well as the manufacture or supply of equipment intended exclusively for the
generation or use of energy from renewable sources. In certain situations, funding may
target projects implemented by companies that use the energy produced primarily for their
own consumption, as prosumers.
These investments directly contribute to achieving SDG 7- Affordable and Clean Energy.
Energy Efficiency (EE)
Funding for energy efficiency targets investments made by companies to reduce energy
consumption through equipment modernization, optimization of industrial processes, or the
implementation of more energy-efficient technologies.
Eligible projects include the purchase or modernization of production equipment and
energy systems or the implementation of energy-efficient technologies. Eligibility is
determined based on minimum criteria regarding the reduction of energy consumption or
greenhouse gas emissions.
This funding contributes to SDG 9 – Industry, Innovation, and Infrastructure.
Sustainable Transport (T)
Funding for sustainable transport includes investments in electric or plug-in hybrid vehicles,
as well as the modernization of transport fleets to improve energy efficiency.
For projects aimed at replacing existing vehicles, the new vehicles must provide a
significant improvement in fuel efficiency or use low-emission technologies.
This category contributes to SDG 11 – Sustainable Cities and Communities.
Green Buildings (GB)
Funding for green buildings includes projects for the construction or renovation of buildings
that comply with recognized energy performance and sustainability certification standards,
such as LEED, BREEAM, EDGE, or DGNB. Buildings that meet nZEB (nearly zero energy
buildings) standards are also considered eligible.
These investments contribute to improving the energy performance of the real estate
sector and reducing resource consumption, aligning with SDG 11 - Sustainable Cities and
Communities.
186
Sustainability Statement 2024, Banca Transilvania Financial Group
Water Efficiency (WE)
Funding in this category includes investments aimed at reducing water consumption or
optimizing the use of water resources in industrial processes or service infrastructure.
Projects may include the modernization of existing facilities, the implementation of water
recycling or reuse systems, the use of alternative water sources, or the installation of
advanced wastewater treatment technologies.
These investments contribute to SDG 14 – Life Below Water and SDG 13 – Climate Action.
Climate Change Adaptation (CCA)
This category includes funding for projects that help reduce the vulnerability of economic
and social systems to the effects of climate change.
Eligible projects may focus on infrastructure to protect against extreme weather events,
climate risk management solutions, or measures to increase the resilience of infrastructure
and ecosystems.
This funding contributes to SDG 15 – Life on Land.
Special Environmental Funding (SEF)
The special environmental funding category includes projects that contribute to climate
change mitigation or environmental protection, but for which the impact on emissions
reduction cannot be directly quantified.
The most common area falling under this category is the circular economy, through funding
for investments that give equipment a second life or facilitate waste recycling: the purchase
of equipment for waste collection and recycling, including waste from agricultural activities,
as well as for the recovery and reuse of certain waste components. Examples of eligible
projects include funding for companies developing technologies for climate-smart
agriculture, research and development activities in the field of sustainability, or
afforestation and biodiversity protection projects. Equipment such as batteries for energy
storage or grid stabilization, as well as systems for collecting information related to
reducing the carbon footprint, are also eligible.
This funding contributes to SDG 12- Responsible Consumption and Production.
Blue Financing
Blue financing targets projects that contribute to the protection and sustainable
management of aquatic ecosystems and water resources.
This category includes investments in water supply and treatment infrastructure,
technologies to reduce marine pollution, projects in the sustainable fisheries sector, or
initiatives to reduce plastic waste in aquatic ecosystems.
187
Sustainability Statement 2024, Banca Transilvania Financial Group
These investments contribute to SDG 6- Clean Water and Sanitation and SDG 14- Life
Below Water.
Identification and classification of financing with a positive environmental impact
To identify and classify financing with a positive environmental impact, the bank uses
internationally recognized tools and methodologies, including:
• CAFI (Climate Assessment for Financial Institutions), an application developed by
the International Finance Corporation (IFC) to assess the climate eligibility of
projects;
• Green Gateway, used in financing programs implemented in partnership with
international financial institutions, such as the European Investment Fund (EIF) or
the European Investment Bank (EIB).
These tools enable the validation of project eligibility and the classification of financing
based on the type of impact generated.
The labeling of financing with a positive environmental impact, in accordance with internal
methodology, is carried out within the bank’s internal systems, and the validation of project
classification is performed by specialists within the departments involved in the lending
process and monitored periodically at the central level.
The internal instruction also includes references to the European Union Taxonomy, used as
a classification system for sustainable economic activities at the European level. Although
a full assessment of alignment with the Taxonomy requires a detailed analysis of the
technical screening criteria and the “Do No Significant Harm” principle, the information
collected during the lending process helps improve the bank’s ability to monitor its
sustainable financing portfolio and meet various reporting requirements.
BT Group’s Sustainable Finance Framework
To complement its operational lending policies, the Banca Transilvania Group developed
the Sustainable Finance Framework in 2023, which is used to structure and issue
sustainable financial instruments, to allocate raised funds to eligible loan portfolios, and to
determine the impact of such financing on the environment, the economy, and society.
Based on this framework, Banca Transilvania and its subsidiaries can issue a wide range of
sustainable financial instruments, including:
• green financing instruments;
• social finance instruments;
• sustainable financing instruments.
The framework is aligned with the main international standards used in capital markets for
sustainable financing, including:
188
Sustainability Statement 2024, Banca Transilvania Financial Group
• Green Bond Principles (ICMA)
• Social Bond Principles (ICMA)
• Sustainability Bond Guidelines
• Green Loan Principles (LMA)
• Social Loan Principles (LMA)
In accordance with these standards, the framework is structured around four fundamental
components:
1. Use of Proceeds – defining categories of eligible projects;
2. Project evaluation and selection process – establishing criteria and responsibilities
for including projects in the eligible portfolio;
3. Management of Raised Funds – monitoring the allocation of raised funds to the
eligible loan portfolio and managing, where applicable, unallocated funds;
4. Reporting – periodic publication of information regarding the allocation of funds and
the impact of financed projects.
Funds raised through sustainable financing instruments are used to finance or refinance a
portfolio of eligible loans. To avoid double-counting of impact, the portfolio excludes
financing that has already been supported by similar financing provided by international
financial institutions.
To ensure transparency toward investors and other stakeholders, the BT Group periodically
publishes documents regarding the implementation of the framework, including:
• The BT Group’s Sustainable Finance Framework,
• Second Party Opinion issued by an independent agency (Sustainalytics),
• Allocation and Impact Report,
• MSME Impact Report,
• Limited Assurance Report (ISAE 3000) issued by the independent auditor.
The BT Group’s sustainable finance portfolio includes both environmental impact financing
and social impact financing.
189
Sustainability Statement 2024, Banca Transilvania Financial Group
Categories of Green Financing
The BT Group’s Sustainable Finance Framework defines the following categories of green
financing, based on the ICMA Green Bond Principles (2022) and the LMA/APLMA/LSTA
Green Loan Principles (2023):
Green Buildings
This category covers the financing and/or refinancing of the construction, renovation,
and/or refurbishment of new and/or existing buildings that meet clear criteria documented
through specific certifications.
Renewable Energy
This category covers the financing and/or refinancing of the construction and/or operation
of renewable energy, solar, or wind power facilities.
Clean transportation
This category covers the financing and/or refinancing of the purchase, rental, and/or
leasing of zero-emission vehicles and/or rail transport, and/or the construction,
modernization, maintenance, and/or operation of infrastructure related to zero-emission
vehicles and rail transport.
Sustainable agriculture
This category covers the financing and/or refinancing of organic farming certified in
accordance with European Union or national regulations.
Although there may be overlaps between the green categories under the Sustainable
Finance Framework for capital market operations and the green categories under the
internal methodology, particularly in the areas of green buildings or renewable energy,
eligibility criteria are closely monitored and adhered to in order to ensure their fulfillment at
each reporting date, within the allocation and impact reports.
Social Impact Financing Categories
The BT Group’s Sustainable Finance Framework defines, in addition to green financing
categories, social financing categories that support inclusive economic development and
improve access to essential services for the population.
These categories are defined in accordance with the ICMA Social Bond Principles (2023)
and the LMA/APLAM/LSTA Social Loan Principles (2023) and allow funds raised through
social bonds to be used to finance or refinance projects that generate measurable social
benefits for specific target groups or communities.
The main types of eligible social financing described in the Sustainable Financing
Framework include:
190
Sustainability Statement 2024, Banca Transilvania Financial Group
Supporting entrepreneurship and job creation
This category focuses on financing small and medium-sized enterprises, including startups
and companies in early stages of development, with the aim of supporting job creation and
retention and the development of productive economic activities.
In line with the BT Group’s business strategy and market positioning, this category is
addressed in a granular manner, through the financing of microenterprises and small and
medium-sized enterprises, including companies owned by women or young entrepreneurs,
as well as independent farmers. Special attention is given to entities operating in areas with
lower levels of economic development, including NUTS 2 regions with per capita GDP below
the national average and below 75% of the European Union average.
This category contributes to achieving Sustainable Development Goals 1 – No Poverty, 5 –
Gender Equality, 8 – Decent Work and Economic Growth, and 10 – Reduced Inequalities,
particularly by supporting productive activities, entrepreneurship, and facilitating access to
financial services.
Access to essential services
The framework also includes funding aimed at improving access to essential services for
the population, such as health and education infrastructure and services. This funding may
target the development or modernization of medical facilities, educational infrastructure,
or other services that contribute to improving quality of life and developing human capital.
This category contributes to achieving Sustainable Development Goals 3- Good Health and
Well-being, 4- Quality Education, and 10- Reduced Inequalities.
By including these social categories, the Sustainable Financing Framework enables the BT
Group to direct capital toward both investments with a positive environmental impact and
projects that help reduce inequalities, support entrepreneurship, and improve access to
essential services.
The sustainable bonds issued by Banca Transilvania starting in 2023 represent allocations
of funds raised both for financing/refinancing projects that meet the criteria in the green
categories and for financing/refinancing projects that meet the criteria in the social
categories. In this way, a positive impact is ensured on both the environment and the
economy and society.
Sustainable products for individuals
In addition to sustainable financing for businesses, the BT Group also offers products for
individuals, designed to support the purchase of more energy-efficient homes and the
adoption of consumption solutions with a low environmental impact.
A relevant example is green mortgages, designed for the purchase of homes with high
energy performance or that meet superior energy efficiency standards. Through these
191
Sustainability Statement 2024, Banca Transilvania Financial Group
products, the bank supports customers’ access to more energy-efficient homes and
contributes to reducing emissions associated with the residential sector.
The bank is also developing dedicated offers and incentives for the purchase of sustainable
products and services through commercial partners, thereby encouraging responsible
consumption behaviors and increasing the use of technologies with a low environmental
impact.
Through these solutions, the BT Group aims to expand public access to financial products
that support the transition to a more energy-efficient and sustainable consumption model
in the long term.
Integrating ESG criteria and the EU Taxonomy into the lending process
In addition to developing sustainable financing products, the BT Group is progressively
integrating sustainability criteria into its lending and risk management processes. This
approach reflects the bank’s commitment to supporting the transition to a sustainable
economy and to appropriately managing risks associated with climate change and other
ESG factors.
When analyzing financing provided to corporate clients, the bank considers, where
relevant, aspects related to the impact of the financed activities on the environment and
society, as well as the potential risks associated with them. The assessment of these
elements is part of the broader risk analysis process and contributes to a better
understanding of the risk profile of the client and the financed project.
The integration of ESG criteria into the lending process includes, among other things:
• assessing the ESG risks associated with financed projects;
• analyzing the potential impact of financed activities on the environment and natural
resources;
• identifying investments that contribute to environmental or social objectives;
• monitoring the loan portfolio from the perspective of exposure to ESG risks.
For financing that can be classified as sustainable financing, the bank uses the internal
methodologies described above to assess project eligibility and classify them based on the
type and impact of the investment.
At the same time, considering developments in the European regulatory framework on
sustainable finance, the BT Group analyzes the extent to which financed activities can be
aligned with the criteria established under the European Union Taxonomy. The assessment
of alignment with the Taxonomy contributes to increased transparency regarding the
impact of the loan portfolio and provides a clearer picture of exposures associated with
economic activities that have an environmental impact.
192
Sustainability Statement 2024, Banca Transilvania Financial Group
ESG Risk Analysis
The Bank develops and maintains an internal system for classifying environmental
(including transition and climate), social, and governance risks, through which each activity,
reported at the CAEN code level, is assigned an implicit risk level for each ESG factor. The
best available sources, such as specialized studies, publications, official documents,
databases, and recommendations from international financial institutions (e.g., EBRD, IFC),
are used to determine these implicit risk levels. This system forms the basis for integrating
ESG criteria into internal credit and risk management processes.
The portfolio classification and distribution across the seven risk classes for each of the
five pillars (physical climate risk, transition risk, environmental risk, social risk, and
governance risk) are presented in the tables below.
Calculated climate risk – year 2025
Sectors of activity (NACE Rev.2.1)
Foarte
ridicat
Ridicat
Mediu
Ridicat
Mediu
Mediu
scăzut
Scăzut
Foarte
Scăzut
Total
A. Agriculture, forestry and fishing
8%
30%
33%
25%
4%
1%
0%
100%
B. Mining and quarrying
44%
1%
22%
10%
22%
1%
0%
100%
C. Manufacturing
0%
4%
9%
36%
28%
21%
2%
100%
D. Electricity, gas, steam and air conditioning supply
1%
17%
14%
35%
22%
11%
0%
100%
E. Water supply; sewerage, waste management and
remediation activities
0%
1%
5%
11%
43%
40%
0%
100%
F. Construction
0%
3%
12%
26%
36%
20%
4%
100%
G. Wholesale and retail trade
0%
1%
5%
23%
42%
23%
6%
100%
H. Transportation and storage
0%
4%
12%
48%
30%
5%
1%
100%
I. Accommodation and food service activities
0%
8%
15%
22%
42%
12%
1%
100%
J. Publishing, broadcasting, and content production
and distribution activities
0%
0%
1%
25%
31%
23%
21%
100%
K. Telecommunication, computer programming,
consulting, computing infrastructure and other
information service activities
0%
0%
0%
0%
3%
81%
16%
100%
L. Financial and insurance activities
0%
1%
1%
12%
41%
27%
18%
100%
M. Real estate activities
0%
1%
6%
9%
30%
31%
24%
100%
N. Professional, scientific and technical activities
0%
1%
5%
11%
21%
50%
12%
100%
O. Administrative and support service activities
0%
5%
2%
27%
45%
6%
16%
100%
P. Public administration and defence; compulsory
social security
0%
0%
0%
45%
15%
10%
30%
100%
Q. Education
0%
14%
26%
24%
22%
13%
1%
100%
R. Human health and social work activities
0%
5%
5%
4%
23%
31%
33%
100%
S. Arts, sports and recreation
0%
0%
1%
11%
36%
34%
18%
100%
Total
1%
6%
10%
23%
27%
27%
7%
100%
193
Sustainability Statement 2024, Banca Transilvania Financial Group
Calculated transition risk - year 2025
Sectors of activity (NACE Rev.2.1)
Foarte
ridicat
Ridicat
Mediu
Ridicat
Mediu
Mediu
scăzut
Scăzut
Foarte
Scăzut
Total
A. Agriculture, forestry and fishing
0%
0%
1%
13%
79%
7%
0%
100%
B. Mining and quarrying
0%
0%
44%
34%
22%
0%
0%
100%
C. Manufacturing
0%
1%
14%
22%
51%
11%
0%
100%
D. Electricity, gas, steam and air conditioning supply
0%
0%
4%
7%
36%
53%
0%
100%
E. Water supply; sewerage, waste management and
remediation activities
0%
0%
0%
10%
89%
1%
0%
100%
F. Construction
0%
0%
1%
26%
44%
28%
0%
100%
G. Wholesale and retail trade
0%
0%
0%
8%
78%
13%
0%
100%
H. Transportation and storage
0%
0%
1%
64%
22%
13%
0%
100%
I. Accommodation and food service activities
0%
0%
0%
8%
60%
32%
0%
100%
J. Publishing, broadcasting, and content production
and distribution activities
0%
0%
0%
5%
38%
56%
0%
100%
K. Telecommunication, computer programming,
consulting, computing infrastructure and other
information service activities
0%
0%
0%
0%
82%
18%
0%
100%
L. Financial and insurance activities
0%
0%
0%
1%
19%
80%
0%
100%
M. Real estate activities
0%
0%
0%
7%
19%
73%
0%
100%
N. Professional, scientific and technical activities
0%
0%
1%
5%
32%
57%
6%
100%
O. Administrative and support service activities
0%
0%
0%
43%
40%
17%
0%
100%
P. Public administration and defence; compulsory
social security
0%
0%
0%
36%
44%
20%
0%
100%
Q. Education
0%
0%
0%
0%
87%
13%
0%
100%
R. Human health and social work activities
0%
0%
0%
5%
25%
69%
1%
100%
S. Arts, sports and recreation
0%
0%
0%
1%
45%
54%
0%
100%
Total
0%
0%
3%
15%
58%
24%
0%
100%
Calculated environmental risk - year 2025
Sectors of activity (NACE Rev.2.1)
Foarte
ridicat
Ridicat
Mediu
Ridicat
Mediu
Mediu
scăzut
Scăzut
Foarte
Scăzut
Total
A. Agriculture, forestry and fishing
0%
4%
10%
48%
37%
2%
0%
100%
B. Mining and quarrying
47%
2%
28%
23%
1%
0%
0%
100%
C. Manufacturing
0%
11%
28%
55%
2%
3%
2%
100%
D. Electricity, gas, steam and air conditioning supply
0%
21%
3%
22%
52%
2%
0%
100%
E. Water supply; sewerage, waste management and
remediation activities
1%
3%
40%
55%
1%
0%
0%
100%
F. Construction
0%
5%
14%
34%
30%
11%
6%
100%
G. Wholesale and retail trade
0%
2%
8%
32%
18%
40%
0%
100%
H. Transportation and storage
0%
0%
4%
73%
14%
7%
0%
100%
I. Accommodation and food service activities
0%
1%
5%
63%
21%
9%
0%
100%
J. Publishing, broadcasting, and content production
and distribution activities
0%
0%
3%
16%
22%
27%
31%
100%
K. Telecommunication, computer programming,
consulting, computing infrastructure and other
information service activities
0%
0%
0%
0%
14%
82%
4%
100%
194
Sustainability Statement 2024, Banca Transilvania Financial Group
Sectors of activity (NACE Rev.2.1)
Foarte
ridicat
Ridicat
Mediu
Ridicat
Mediu
Mediu
scăzut
Scăzut
Foarte
Scăzut
Total
L. Financial and insurance activities
0%
0%
0%
15%
24%
19%
42%
100%
M. Real estate activities
0%
1%
6%
15%
3%
16%
59%
100%
N. Professional, scientific and technical activities
0%
0%
2%
13%
32%
34%
19%
100%
O. Administrative and support service activities
0%
0%
0%
66%
13%
21%
0%
100%
P. Public administration and defence; compulsory
social security
0%
0%
36%
18%
0%
44%
2%
100%
Q. Education
0%
0%
3%
15%
14%
67%
0%
100%
R. Human health and social work activities
0%
0%
1%
11%
7%
67%
14%
100%
S. Arts, sports and recreation
0%
0%
0%
31%
16%
45%
8%
100%
Total
0%
4%
8%
33%
20%
28%
6%
100%
Calculated governance risk – year 2025
Sectors of activity (NACE Rev.2.1)
Foarte
ridicat
Ridicat
Mediu
Ridicat
Mediu
Mediu
scăzut
Scăzut
Foarte
Scăzut
Total
A. Agriculture, forestry and fishing
0%
1%
3%
69%
24%
5%
0%
100%
B. Mining and quarrying
0%
3%
4%
81%
12%
0%
0%
100%
C. Manufacturing
0%
5%
19%
40%
27%
8%
0%
100%
D. Electricity, gas, steam and air conditioning supply
0%
0%
16%
45%
27%
12%
0%
100%
E. Water supply; sewerage, waste management and
remediation activities
0%
2%
6%
17%
47%
28%
0%
100%
F. Construction
0%
11%
14%
29%
33%
12%
0%
100%
G. Wholesale and retail trade
0%
3%
4%
35%
49%
9%
0%
100%
H. Transportation and storage
0%
1%
3%
70%
23%
2%
0%
100%
I. Accommodation and food service activities
0%
2%
6%
26%
62%
3%
0%
100%
J. Publishing, broadcasting, and content production and
distribution activities
0%
0%
4%
11%
48%
37%
0%
100%
K. Telecommunication, computer programming, consulting,
computing infrastructure and other information service
activities
0%
0%
0%
0%
2%
98%
0%
100%
L. Financial and insurance activities
0%
0%
0%
20%
29%
51%
0%
100%
M. Real estate activities
0%
3%
0%
23%
24%
50%
0%
100%
N. Professional, scientific and technical activities
0%
0%
1%
7%
43%
47%
2%
100%
O. Administrative and support service activities
0%
1%
1%
37%
22%
40%
0%
100%
P. Public administration and defence; compulsory social
security
0%
0%
0%
45%
9%
46%
0%
100%
Q. Education
0%
1%
1%
4%
26%
68%
0%
100%
R. Human health and social work activities
0%
1%
1%
3%
34%
62%
0%
100%
S. Arts, sports and recreation
0%
0%
0%
10%
50%
39%
0%
100%
Total
0%
3%
6%
32%
29%
30%
0%
100%
195
Sustainability Statement 2024, Banca Transilvania Financial Group
Calculated social risk – year 2025
Sectors of activity (NACE Rev.2.1)
Foarte
ridicat
Ridicat
Mediu
Ridicat
Mediu
Mediu
scăzut
Scăzut
Foarte
Scăzut
Total
A. Agriculture, forestry and fishing
0%
1%
38%
43%
14%
4%
0%
100%
B. Mining and quarrying
3%
0%
54%
42%
1%
0%
0%
100%
C. Manufacturing
0%
7%
24%
57%
7%
4%
0%
100%
D. Electricity, gas, steam and air conditioning supply
0%
0%
19%
28%
24%
29%
0%
100%
E. Water supply; sewerage, waste management and
remediation activities
1%
5%
18%
68%
7%
1%
0%
100%
F. Construction
0%
10%
19%
32%
9%
27%
3%
100%
G. Wholesale and retail trade
0%
1%
5%
52%
21%
22%
0%
100%
H. Transportation and storage
0%
1%
1%
63%
34%
2%
0%
100%
I. Accommodation and food service activities
0%
0%
0%
61%
32%
6%
0%
100%
J. Publishing, broadcasting, and content production
and distribution activities
0%
0%
7%
7%
21%
64%
0%
100%
K. Telecommunication, computer programming,
consulting, computing infrastructure and other
information service activities
0%
0%
0%
0%
0%
100%
0%
100%
L. Financial and insurance activities
0%
0%
4%
6%
16%
73%
1%
100%
M. Real estate activities
0%
2%
5%
16%
9%
66%
2%
100%
N. Professional, scientific and technical activities
0%
1%
2%
32%
30%
35%
0%
100%
O. Administrative and support service activities
0%
0%
0%
34%
39%
28%
0%
100%
P. Public administration and defence; compulsory
social security
0%
36%
0%
19%
0%
45%
0%
100%
Q. Education
0%
1%
1%
78%
19%
2%
0%
100%
R. Human health and social work activities
0%
1%
0%
9%
43%
47%
0%
100%
S. Arts, sports and recreation
0%
0%
1%
7%
61%
31%
0%
100%
Total
0%
2%
11%
37%
16%
33%
0%
100%
Calculated climate risk – year 2024
Sectors of activity (NACE Rev.2.1)
Foarte
ridicat
Ridicat
Mediu
Ridicat
Mediu
Mediu
scăzut
Scăzut
Foarte
Scăzut
Total
A. Agriculture, forestry and fishing
5%
42%
27%
21%
3%
1%
0%
100%
B. Mining and quarrying
0%
9%
33%
20%
30%
7%
0%
100%
C. Manufacturing
0%
15%
8%
25%
19%
31%
2%
100%
D. Electricity, gas, steam and air conditioning supply
0%
34%
28%
13%
5%
20%
0%
100%
E. Water supply; sewerage, waste management and
remediation activities
0%
2%
7%
18%
10%
63%
0%
100%
F. Construction
0%
5%
19%
32%
23%
18%
3%
100%
G. Wholesale and retail trade
0%
2%
7%
25%
34%
27%
5%
100%
H. Transportation and storage
0%
6%
15%
44%
15%
18%
2%
100%
I. Accommodation and food service activities
0%
7%
18%
20%
28%
26%
2%
100%
J. Publishing, broadcasting, and content production
and distribution activities
0%
0%
13%
40%
14%
23%
10%
100%
K. Telecommunication, computer programming,
consulting, computing infrastructure and other
information service activities
0%
0%
0%
0%
15%
69%
16%
100%
L. Financial and insurance activities
0%
2%
4%
16%
28%
22%
27%
100%
196
Sustainability Statement 2024, Banca Transilvania Financial Group
Sectors of activity (NACE Rev.2.1)
Foarte
ridicat
Ridicat
Mediu
Ridicat
Mediu
Mediu
scăzut
Scăzut
Foarte
Scăzut
Total
M. Real estate activities
0%
1%
2%
6%
29%
37%
25%
100%
N. Professional, scientific and technical activities
0%
3%
5%
9%
37%
33%
13%
100%
O. Administrative and support service activities
0%
6%
8%
8%
25%
41%
12%
100%
P. Public administration and defence; compulsory
social security
0%
3%
0%
56%
15%
17%
10%
100%
Q. Education
0%
14%
24%
36%
16%
11%
0%
100%
R. Human health and social work activities
0%
3%
1%
62%
6%
16%
12%
100%
S. Arts, sports and recreation
0%
1%
0%
13%
34%
32%
20%
100%
Total
0%
10%
11%
21%
21%
30%
7%
100%
Calculated transition risk - year 2024
Sectors of activity (NACE Rev.2.1)
Foarte
ridicat
Ridicat
Mediu
Ridicat
Mediu
Mediu
scăzut
Scăzut
Foarte
Scăzut
Total
A. Agriculture, forestry and fishing
0%
0%
0%
15%
76%
8%
100%
B. Mining and quarrying
0%
0%
4%
59%
34%
4%
100%
C. Manufacturing
0%
2%
17%
24%
41%
16%
100%
D. Electricity, gas, steam and air conditioning supply
0%
0%
17%
32%
4%
47%
100%
E. Water supply; sewerage, waste management and
remediation activities
0%
1%
1%
71%
23%
5%
100%
F. Construction
0%
0%
2%
40%
41%
17%
100%
G. Wholesale and retail trade
0%
1%
1%
12%
76%
11%
100%
H. Transportation and storage
0%
0%
1%
69%
15%
15%
100%
I. Accommodation and food service activities
0%
0%
0%
6%
68%
26%
100%
J. Publishing, broadcasting, and content production
and distribution activities
0%
0%
0%
1%
35%
64%
100%
K. Telecommunication, computer programming,
consulting, computing infrastructure and other
information service activities
0%
0%
0%
0%
93%
7%
100%
L. Financial and insurance activities
0%
0%
0%
5%
23%
72%
100%
M. Real estate activities
0%
0%
0%
8%
20%
71%
100%
N. Professional, scientific and technical activities
0%
0%
1%
7%
45%
39%
100%
O. Administrative and support service activities
0%
0%
0%
37%
36%
28%
100%
P. Public administration and defence; compulsory
social security
0%
0%
0%
59%
29%
12%
100%
Q. Education
0%
0%
0%
2%
71%
26%
100%
R. Human health and social work activities
0%
0%
0%
3%
73%
24%
100%
S. Arts, sports and recreation
0%
0%
0%
1%
63%
36%
100%
Total
0%
0%
3%
19%
57%
20%
100%
197
Sustainability Statement 2024, Banca Transilvania Financial Group
Calculated environmental risk - year 2024
Sectors of activity (NACE Rev.2.1)
Foarte
ridicat
Ridicat
Mediu
Ridicat
Mediu
Mediu
scăzut
Scăzut
Foarte
Scăzut
Total
A. Agriculture, forestry and fishing
0%
4%
9%
47%
38%
2%
0%
100%
B. Mining and quarrying
9%
25%
38%
27%
2%
0%
0%
100%
C. Manufacturing
0%
14%
24%
53%
3%
3%
2%
100%
D. Electricity, gas, steam and air conditioning supply
0%
30%
9%
11%
41%
9%
0%
100%
E. Water supply; sewerage, waste management and
remediation activities
2%
8%
24%
66%
0%
0%
0%
100%
F. Construction
0%
7%
25%
29%
13%
19%
6%
100%
G. Wholesale and retail trade
0%
3%
9%
35%
9%
43%
1%
100%
H. Transportation and storage
0%
1%
3%
77%
11%
8%
1%
100%
I. Accommodation and food service activities
0%
1%
2%
60%
20%
15%
1%
100%
J. Publishing, broadcasting, and content production
and distribution activities
0%
3%
2%
15%
33%
29%
18%
100%
K. Telecommunication, computer programming,
consulting, computing infrastructure and other
information service activities
0%
0%
0%
0%
0%
84%
16%
100%
L. Financial and insurance activities
0%
0%
0%
18%
20%
10%
51%
100%
M. Real estate activities
0%
1%
5%
10%
5%
16%
63%
100%
N. Professional, scientific and technical activities
0%
0%
2%
31%
12%
33%
22%
100%
O. Administrative and support service activities
0%
0%
0%
53%
7%
40%
0%
100%
P. Public administration and defence; compulsory
social security
0%
0%
56%
13%
0%
30%
1%
100%
Q. Education
0%
0%
5%
34%
2%
59%
0%
100%
R. Human health and social work activities
0%
0%
1%
66%
1%
26%
7%
100%
S. Arts, sports and recreation
0%
0%
1%
29%
6%
56%
8%
100%
Total
0%
5%
10%
34%
12%
32%
8%
100%
Calculated governance risk – year 2024
Sectors of activity (NACE Rev.2.1)
Foarte
ridicat
Ridicat
Mediu
Ridicat
Mediu
Mediu
scăzut
Scăzut
Foarte
Scăzut
Total
A. Agriculture, forestry and fishing
0%
1%
8%
74%
16%
1%
0%
100%
B. Mining and quarrying
0%
10%
22%
54%
13%
0%
0%
100%
C. Manufacturing
0%
6%
12%
51%
21%
11%
0%
100%
D. Electricity, gas, steam and air conditioning supply
0%
9%
27%
13%
19%
31%
0%
100%
E. Water supply; sewerage, waste management and
remediation activities
0%
9%
13%
19%
21%
39%
0%
100%
F. Construction
0%
17%
23%
27%
21%
12%
0%
100%
G. Wholesale and retail trade
0%
5%
5%
34%
45%
11%
0%
100%
H. Transportation and storage
0%
1%
8%
52%
16%
23%
0%
100%
I. Accommodation and food service activities
0%
1%
8%
23%
60%
8%
0%
100%
J. Publishing, broadcasting, and content production
and distribution activities
0%
0%
4%
11%
48%
36%
0%
100%
K. Telecommunication, computer programming,
consulting, computing infrastructure and other
information service activities
0%
0%
0%
0%
0%
99%
0%
100%
L. Financial and insurance activities
0%
3%
7%
21%
11%
59%
0%
100%
M. Real estate activities
0%
3%
3%
15%
25%
54%
0%
100%
198
Sustainability Statement 2024, Banca Transilvania Financial Group
N. Professional, scientific and technical activities
0%
0%
1%
12%
29%
54%
3%
100%
O. Administrative and support service activities
0%
0%
6%
35%
2%
58%
0%
100%
P. Public administration and defence; compulsory
social security
0%
0%
12%
47%
10%
31%
0%
100%
Q. Education
0%
0%
2%
6%
36%
57%
0%
100%
R. Human health and social work activities
0%
1%
1%
6%
73%
18%
0%
100%
S. Arts, sports and recreation
0%
0%
3%
8%
36%
53%
0%
100%
Total
0%
4%
8%
30%
23%
34%
0%
100%
Calculated social risk – year 2024
Sectors of activity (NACE Rev.2.1)
Foarte
ridicat
Ridicat
Mediu
Ridicat
Mediu
Mediu
scăzut
Scăzut
Foarte
Scăzut
Total
A. Agriculture, forestry and fishing
0%
1%
40%
43%
10%
6%
0%
100%
B. Mining and quarrying
9%
13%
16%
59%
2%
0%
0%
100%
C. Manufacturing
0%
10%
28%
45%
11%
6%
0%
100%
D. Electricity, gas, steam and air conditioning supply
0%
0%
15%
32%
15%
37%
0%
100%
E. Water supply; sewerage, waste management and
remediation activities
2%
5%
10%
67%
13%
3%
0%
100%
F. Construction
0%
13%
13%
46%
4%
14%
9%
100%
G. Wholesale and retail trade
0%
1%
5%
45%
26%
23%
0%
100%
H. Transportation and storage
0%
1%
2%
56%
38%
3%
0%
100%
I. Accommodation and food service activities
0%
0%
1%
56%
23%
20%
1%
100%
J. Publishing, broadcasting, and content production
and distribution activities
0%
3%
0%
42%
10%
45%
0%
100%
K. Telecommunication, computer programming,
consulting, computing infrastructure and other
information service activities
0%
0%
0%
0%
0%
100%
0%
100%
L. Financial and insurance activities
0%
0%
5%
6%
17%
64%
7%
100%
M. Real estate activities
0%
2%
2%
15%
7%
71%
2%
100%
N. Professional, scientific and technical activities
0%
0%
3%
29%
28%
39%
0%
100%
O. Administrative and support service activities
0%
0%
0%
20%
34%
46%
0%
100%
P. Public administration and defence; compulsory
social security
0%
0%
56%
10%
3%
31%
0%
100%
Q. Education
0%
1%
1%
88%
9%
1%
0%
100%
R. Human health and social work activities
0%
0%
1%
66%
16%
17%
0%
100%
S. Arts, sports and recreation
0%
0%
1%
7%
50%
42%
0%
100%
Total
0%
3%
11%
37%
15%
33%
1%
100%
199
Sustainability Statement 2024, Banca Transilvania Financial Group
Engaging with customers and supporting the transition
In line with its sustainability strategy and the goal of supporting the economy’s transition
toward business models with a low environmental impact, the BT Group maintains an
ongoing dialogue with entrepreneurs and companies in Romania regarding the
opportunities and benefits associated with the green transition and sustainable financing.
In this context, the bank organizes and participates in events dedicated to the business
community, designed to facilitate companies’ access to relevant information regarding
available technical solutions, financing opportunities, and the tools necessary for
implementing energy efficiency projects, renewable energy production, and
decarbonization.
In 2025, the BT Group organized and hosted several events dedicated to dialogue with
companies regarding the transition to sustainable business models, as follows:
In partnership with Servelect, the event “Industry in Transition” (April 15, 2025) took place
in Cluj-Napoca, addressing the development and implementation of decarbonization plans
and the importance of reducing emissions in the industrial sector.
Additionally, in Bucharest on September 30, 2025, the bank organized the event “VSME for
SMEs: Dialogues on Sustainability, Risk, and the Future,” aimed at SME clients and
dedicated to promoting voluntary sustainability reporting and understanding emerging ESG
requirements.
In addition, the NZEB fair, held in two editions during 2025 (June 11–14 and October 23–
25), served as an important platform for promoting sustainable construction. During these
editions, Banca Transilvania served as the main sponsor, supporting the promotion of the
Near Zero Energy Building (NZEB) concept and high-performance green buildings from the
perspective of energy efficiency and carbon footprint reduction.
Through these initiatives, the BT Group contributes to raising awareness within the
business community regarding sustainable investment opportunities and supports
companies in adapting to the requirements of the climate transition and the low-carbon
economy.
Evolution of the portfolio of sustainable financing granted to companies
Banca Transilvania’s sustainable financing activity has continued to grow at a steady pace,
reflecting customers’ increasing interest in investments that help optimize energy costs
and, by extension, improve business and financial performance. At the same time, these
initiatives have a positive impact on the environment by reducing the carbon footprint. The
BT Group’s approach to financing with a positive impact on the environment is grounded in
the realities of the business environment and aligns with customer interest.
200
Sustainability Statement 2024, Banca Transilvania Financial Group
In 2025, the total volume of green financing, according to internal methodology, granted to
corporate clients increased to 2,180.2 million RON from 1,787.6 million RON in 2024,
representing an increase of approximately 22% compared to the previous year and
confirming the expansion of financing activities for projects with environmental benefits.
The main categories of funded projects were projects for renewable energy production, the
construction of green buildings, and financing dedicated to environmental protection.
Breakdown of green financing provided to companies (in millions of RON)
Category
2025
2024
Variance 2025 vs.
2024
Share in total loans
granted in 2025
Renewable Energy
859.4
1,050.3
-18.2%
39.4%
Green Buildings
938.5
516.8
+81.6%
43.0%
Special Environmental
Funding
320.5
182.0
+76.1%
14.7%
Other
61.7
38.4
+60.7%
2.8%
Total
2,180.2
1,787.6
+22.0%
100%
In 2025, the structure of green financing granted shows a significant increase in financing
for green buildings and special environmental projects (waste collection and recycling,
energy storage projects, or grid stabilization, etc.).
The volume of financing for renewable energy projects was lower compared to the previous
year, a trend that reflects the specific dynamics of investments in this sector, characterized
by projects of varying sizes and an uneven distribution of financing across periods.
The “Others” category includes financing for energy efficiency projects, efficient use of
water resources, blue finance projects, and sustainable transportation.
Structure of the green financing portfolio granted to companies (outstanding balance)
At the portfolio level, the total balance of green financing continued to grow, reaching
approximately 4.30 billion RON as of December 31, 2025, compared to 2.66 billion RON at
the end of 2024.
Category
Balance 2025
(mil.RON)
Balance 2024
(mil.RON)
Variance 2025
vs. 2024
Share in 2025
Balance
Renewable Energy
1,930.1
728,7
+164.9%
44.9%
Green Buildings
1,864.3
1,615.4
+15.4%
43.4%
201
Sustainability Statement 2024, Banca Transilvania Financial Group
Category
Balance 2025
(mil.RON)
Balance 2024
(mil.RON)
Variance 2025
vs. 2024
Share in 2025
Balance
Special
Environmental
Funding
269.1
118.1
+127.9%
6.3%
Other
231.8
193.6
+19.7%
5.4%
Total
4,295.3
2,655.8
+61.7%
100%
The portfolio structure shows a significant concentration in the two main categories,
renewable energy and green buildings, which together account for approximately 88% of
the total green financing portfolio.
The most significant increase was recorded in financing for renewable energy projects,
whose outstanding balance reached 1,930.1 million RON at the end of 2025, compared to
728.7 million RON in 2024. At the same time, financing for green buildings continued to
represent a major pillar of the portfolio, with a balance of 1,864.3 million RON.
The evolution of the portfolio balance reflects both the financing granted during the period
and the specific characteristics of the financed projects, including their duration and the
investment implementation schedule, which determine the progressive use of approved
funds. Thus, changes in annual disbursements are gradually reflected in the portfolio
structure, and larger investment projects may influence the evolution of balances in
subsequent reporting periods.
The evolution of the green financing portfolio is reflected both in the increase in the total
financing balance and in the number of financings in the portfolio. As of December 31, 2025,
the balance of green financing reached approximately 4.30 billion RON, and the portfolio
included 988 financing transactions, of which 418 were granted during 2025. By
comparison, as of December 31, 2024, the portfolio balance was 2.66 billion RON,
consisting of 734 loans, of which 245 were granted during 2024. This trend reflects the
sustained pace of lending during the period under review, as well as the granularity of the
supported projects and a low level of concentration at the project level.
The BT Group’s Sustainability Strategy for 2026–2028 places the issuance of green loans,
in accordance with internal methodology and validated through the CAFI and Green
Gateway tools, at the center of its action plans, with a target of granting 6.5 billion RON in
green loans during 2025–2028. The initial target for green loans granted to companies was
set at 5 billion RON for the 2025–2027 period, reflecting the target set for 2025. The
development and promotion of green financing products also aim to meet both the
requirements for compliance with the EU Taxonomy and the real needs of the economy,
with an emphasis on energy efficiency, reducing CO₂ emissions, utilizing renewable
resources, and adapting to climate risks.
202
Sustainability Statement 2024, Banca Transilvania Financial Group
Sustainable bonds
Banca Transilvania also utilizes financing instruments from international financial markets
to support the development of its sustainable financing portfolio and to mobilize capital for
projects with a positive impact on the environment and society. The bank’s sustainable
bond issuances are structured in accordance with the BT Group’s Sustainable Finance
Framework described above, with the funds raised being used to finance or refinance
eligible projects defined therein.
As part of the issuance program totaling EUR 1.5 billion, Banca Transilvania carried out three
consecutive sustainable bond issuances, the first two listed on the Dublin Stock Exchange
and the third on the Bucharest Stock Exchange. The first issuance was for EUR 500 million
in the form of senior unsecured bonds, followed in September 2024 by a second issuance
of EUR 700 million, and in 2025 by a third issuance of EUR 300 million listed on the
Bucharest Stock Exchange. The issuances attracted significant interest from international
investors with specific mandates for investments that have a positive impact on the
environment and/or society, reflecting their confidence in the BT Group’s sustainable
financing strategy.
The funds raised are directed toward eligible sustainable projects, such as green buildings,
renewable energy, clean transportation, and organic agriculture, as well as toward financing
small and medium-sized enterprises, including in less developed regions, while also
contributing to improved access to health and education services.
Banca Transilvania periodically publishes allocation and impact reports for its sustainable
bond issuances, confirming that the funds are used in accordance with the criteria
established in the Sustainable Finance Framework.
The first Allocation and Impact Report, published in 2024 for lottery ticket XS2724401588,
confirmed the full (100%) allocation of net proceeds through December 31, 2023. The
second report, published in 2025, covering issues XS2724401588 and XS2908597433,
confirmed the full (100%) allocation of outstanding sustainable bonds totaling EUR 1.2
billion. The financed projects contributed to the annual avoidance of approximately 847,548
tCO₂e, as well as to generating positive economic effects on gross value added and
economic activity in Romania.
For the latest sustainable bond issuance in 2025 with ISIN XS3109437387, the bank is set
to publish its third Allocation and Impact Report during the first half of 2026, which will
detail the use of the funds raised and the impact of the financed projects.
Complementary reports on the impact of financing provided to SMEs (published in 2024
and 2025) highlight the contribution of this financing to job creation, expanding access to
financing for SMEs, and supporting economic activity across various sectors of the
Romanian economy.
203
Sustainability Statement 2024, Banca Transilvania Financial Group
Trends in sustainable financing in the retail segment
In the mortgage sector, green loans (homes with an EPC A energy performance certificate)
saw significant growth, confirming customers’ growing interest in homes with high energy
performance.
In 2025, green mortgage loans saw significant growth both in volume and as a share of new
lending: the value of financing granted reached 1,198.9 million RON, compared to 586.9
million RON in 2024, and the number of green mortgages granted rose to 3,458 (from 1,747
in 2024). From the perspective of the production mix, green mortgages accounted for
19.5% of mortgage loans granted in 2025, compared to 13.2% in 2024, meaning that
approximately 1 in 5 newly granted mortgage loans fall into the green category (compared
to approximately 1 in 8 in the previous year).
This trend is also reflected in the evolution of the outstanding balance: the balance of green
mortgages rose to 2,945.9 million RON at the end of 2025 (from 2,265.4 million RON in
2024), while maintaining a stable share of the total mortgage and real estate loan portfolio
(11.9% in 2025 compared to 11.8% in 2024).
Across the entire retail portfolio, green financing reached 2,943.5 million RON in 2025,
compared to 2,266.9 million RON in 2024, accounting for 7.5% of the total portfolio
(compared to 7.4% in the previous year).
Evolution of green mortgage lending
Indicator
2025
2024
Number of green mortgages granted
3,458
1,747
Value of green mortgages granted (million
RON)
1,198.9
586.9
Share of total mortgage loans granted
19.5%
13.2%
Equivalent in loans granted
aproximativ 1 din 5
credite
aproximativ 1 din 8
credite
Year-end green mortgage balance (million
RON)
2,945.9
2,265.4
Share of total mortgage and real estate
loan portfolio
11.9%
11.8%
Green mortgage loans include financing for the purchase or construction of homes with an
EPC A energy performance certificate or equivalent, in accordance with the internal criteria
used by Banca Transilvania for classifying green financing in the retail segment. The shares
presented in the table are calculated relative to the total mortgage loans granted during
204
Sustainability Statement 2024, Banca Transilvania Financial Group
the year (for new production indicators) and to the total mortgage and real estate loan
portfolio outstanding at the end of the period (for portfolio balance indicators).
Contribution of specialized divisions to portfolio development
Banca Transilvania is strengthening its position in strategic economic sectors, such as the
medical and agribusiness sectors, through specialized divisions that offer financial
solutions tailored to the specific needs of each sector and contribute to the sustainable
development of the loan portfolio.
Specialized divisions are key pillars in BT’s portfolio development strategy, ensuring an
approach tailored to the specific needs of sectors with significant economic and social
impact. Both agribusiness and the medical sector are areas with a structural role in the
Romanian economy, characterized by high investment needs and a significant contribution
to employment.
The Agribusiness Division continued to play an essential role in supporting the agricultural
sector, an area of major relevance to the Romanian economy. In 2025, the division recorded
a market share of 26.36%, up from the 21.28% reported at the end of 2024, reflecting the
strengthening of Banca Transilvania’s position in this segment. As of December 31, 2025,
the division’s portfolio included 35,606 active customers, and the outstanding loan balance
reached 6.83 billion RON. Thus, Banca Transilvania has strengthened capabilities to meet
the financing needs of a sector exposed to climate risks and economic volatility.
The size of the portfolio and the high number of active customers highlight the strategic
importance of this segment for the Bank’s overall portfolio and for supporting the rural
economy and agri-food supply chains.
The Corporate Banking Division, in turn, continued to grow, expanding its customer base
and covering an increasingly broad range of activities, including those in the large-
corporate segment. By the end of 2025, the division served 34,729 companies, compared
to 31,933 in the previous year. This growth was reflected in increased lending activity, with
new loan origination reaching 1.97 billion RON in 2025, compared to 1.2 billion RON in 2024.
At the same time, the outstanding loan balance increased from 2.56 billion RON in 2024 to
2.76 billion RON in 2025, and the deposit balance rose from approximately 2.9 billion RON
to 3.1 billion RON, reflecting a strengthened financial relationship with this customer
segment.
In the healthcare sector, the growth in the customer base and the volume of new financing
granted indicates an intensification of lending activity, supported by ongoing investments
in infrastructure equipment, and the expansion of healthcare service delivery capabilities.
The positive trend in loan and deposit balances suggests the strengthening of long-term
relationships with this customer segment and an increase in the degree of financial
intermediation.
205
Sustainability Statement 2024, Banca Transilvania Financial Group
Overall, the contribution of the specialized divisions reflects balanced portfolio growth,
based both on expanding the customer base and on supporting investments in sectors of
high economic and social relevance for Romania. This approach allows Banca Transilvania
to strengthen its role as a financier of the real economy and to support the sustainable
development of key sectors.
Banca Transilvania has also integrated sustainable financing practices within its
subsidiaries.
The subsidiaries of the Banca Transilvania Group contribute to the implementation of the
sustainable financing strategy by supporting investments in renewable energy, energy
efficiency, and low-emission mobility. Through the activities carried out by Victoriabank
and BT Leasing Moldova in the Republic of Moldova, as well as by BT Microfinanțare and
BT Leasing Romania, sustainable financing is being extended to new customer segments
and project types, strengthening the BT Group’s role in supporting the transition to a more
sustainable economy in the markets where it operates.
Victoriabank
In 2025, Victoriabank continued to support renewable energy and energy efficiency
projects by granting green loans, leveraging Banca Transilvania’s expertise and the
assistance provided by the European Bank for Reconstruction and Development (EBRD). At
the same time, the funding base was diversified through the Green for Growth Fund (GGF)
partnership, helping to strengthen the bank’s capacity to support investments with a
positive environmental impact.
As of December 31, 2025, Victoriabank had financed 14 clients, with a total value of
approximately 75 million RON in loans, with the portfolio focused on renewable energy and
energy efficiency projects. This development is in line with the strategy to support energy
transition, continuing the directions established in previous years.
BT Microfinantare
Through the activities of BT Mic, the Group contributes to expanding access to financing
for small businesses and early-stage entrepreneurs. In 2025, approximately 70% of new
financed clients received support from the company as their primary lender, and 23.4% of
financed clients were startups, defined as businesses no more than 18 months old.
BT Leasing Romania
Through its leasing subsidiaries, the BT Group supports the transition to low-emission
mobility solutions, offering customers the opportunity to finance electric and hybrid
vehicles, adapted to new energy efficiency requirements and environmental impact
reduction goals.
206
Sustainability Statement 2024, Banca Transilvania Financial Group
In 2025, BT Leasing Romania made a significant contribution to the development of
sustainable mobility, reflected both in the volume of financing granted and in the portfolio
structure. Approximately half of the leases granted during 2025 were for electric or hybrid
vehicles, with a cumulative value of nearly 1,909 million RON
This trend was also reflected in the portfolio: by the end of 2025, electric and hybrid
vehicles accounted for 58% of the total leasing portfolio, confirming the business’s
consistent focus on low-emission mobility solutions. In terms of the number of financed
vehicles, their share increased significantly, highlighting a structural shift in the automotive
portfolio, not just a one-off increase in volumes.
In particular, both the electric vehicle segment and the hybrid vehicle segment recorded
substantial growth in 2025 compared to 2024, both in terms of the number of units financed
and the outstanding balance, consolidating BT Leasing Romania’s position as a key player
in supporting the transition to low-emission mobility solutions.
The number of electric and hybrid vehicles financed, as well as the outstanding balance of
the related financing, are presented in the table below.
Portfolio of financed electric and hybrid vehicles – BT Leasing Romania
Category
2025
2024
Variance
number
Variance
balance
No.
(RON mil.)
No.
(RON mil.)
2025 vs
2024
2025 vs
2024
Electric cars
3,115
267
2,383
208
+30.7%
+28.4%
Hybrid cars
19,630
2,164
13,463
1,495
+45.8%
+44.7%
Total
22,745
2,431
15,846
1,702
+43.5%
+42.9%
BT Leasing Moldova
In 2025, BT Leasing Moldova continued to develop a portfolio focused on low-emission
mobility solutions by financing electric and hybrid vehicles and actively promoting these
solutions among customers. This approach reflects the subsidiary’s commitment to
supporting the modernization of the vehicle fleet and reducing environmental impact,
particularly in urban areas.
The partnership with the Green for Growth Fund (GGF) was strengthened, facilitating
access to resources dedicated to projects with a positive environmental impact and
supporting the development of sustainable mobility. At the same time, the launch of the
Leasing ECO product, active since 2025, contributed to increasing green financing in the
portfolio and stimulating demand for electric and hybrid vehicles.
The portfolio’s growth was reflected both in the increase in the number of financed vehicles
and in the rise in the outstanding balance of related financing. At the end of 2025, electric
207
Sustainability Statement 2024, Banca Transilvania Financial Group
and hybrid vehicles accounted for 37% of the auto portfolio balance, compared to 35% in
2024, and in terms of the number of units financed, their share increased from 27% to 33%.
This trend indicates a progressive shift of the portfolio toward sustainable mobility
solutions, with an increasingly significant contribution from the green segment to BT
Leasing Moldova’s operations.
The number of financed electric and hybrid vehicles, as well as the outstanding balance of
the related financing, are presented in the table below.
Portfolio of financed electric and hybrid vehicles – BT Leasing Moldova
Category
2025
2024
Variance
number
Variance
balance
No.
(RON mil.)
No.
(RON mil.)
2025 vs
2024
No.
Electric cars
102
8
56
5
+82.1%
+60.0%
Hybrid cars
559
57
488
49
+14.5%
+16.3%
Total
661
65
544
54
+21.5%
+20.4%
Green and social projects supported by BT
1. Green buildings and sustainable urban development
Alecsandri Estates - The Landmark, București
Alecsandri Estates S.R.L. is a project company within the Vectr group, which owns and
manages The Landmark office complex, located in the ultra-central area of Bucharest. The
project is recognised on the local office market as a landmark asset, with high potential for
modernisation and improved operational and sustainability performance.
Banca Transilvania granted financing through which it took over the existing exposure to
the project, facilitating a more efficient use of internal resources at Vectr group level. This
financing created the necessary framework for accelerating an extensive technical and
operational transformation process, supporting significant investments aimed at improving
the asset’s ESG performance.
Following this modernisation process, The Landmark complex became a benchmark for
sustainability and performance on the Romanian office market, obtaining the BREEAM In-
Use – Outstanding certification, with a score of over 88% (6 stars), for both the Asset and
Management components, as well as the WELL Health-Safety certification, which confirms
high standards of health, safety and well-being for occupants.
208
Sustainability Statement 2024, Banca Transilvania Financial Group
BE STRONG TENNIS – Atlas Academy
BE STRONG TENNIS is a company operating in the field of sports services and leisure
activities, with a focus on tennis and football. In 2018, the company established ATLAS
Academy, a tennis academy dedicated to training children and young people aged between
3 and 15, as well as providing a high-quality sports experience for adults passionate about
tennis. Starting with 2019, the activity was expanded through the launch of the Football
Academy, where children aged between 5 and 12 are trained. The academy benefits from
the sporting expertise of Emil Săndoi, a renowned athlete, who holds the role of honorary
president and coordinating coach.
The academy’s activity includes performance assessment of participants, the development
of individual training plans and participation in local and national competitions, carried out
within a sports infrastructure that includes two tennis courts and two football/foot-tennis
courts, as well as equipment dedicated to sports training.
The investment project supported by Banca Transilvania through financing aims at the
development of a new building for a multifunctional sports centre, designed as a modern
space dedicated to promoting health and well-being within the local community. The centre
will provide accessible, high-quality sports and recreational facilities for a broad audience
and will act as a catalyst for the development of sports activities and social interaction.
The building is designed as a green building, with energy performance exceeding the NZEB
standard, conceived not only as a training facility but as a community hub that contributes
to improving quality of life, encourages an active lifestyle and supports the development of
sports talent among children and young people.
Viva Residence – green residential project
Viva Residence is one of the most dynamic residential developments in the southern area of
Bucharest, located near Tudor Arghezi Park and the Apărătorii Patriei metro station. The
project stands out through well-designed functionality and an efficient layout of buildings,
reflecting the developer’s vision of creating a sustainable, spacious, comfortable and safe
residential community, harmoniously integrated into the urban environment.
Banca Transilvania granted an investment loan for the development of a new residential
project, designed as a model for modern housing in Romania. The project is green pre-
certified by the Romanian Green Building Council (RoGBC), a certification that confirms the
integration of advanced construction and technological solutions aimed at energy efficiency
and reducing environmental impact.
The residential complex benefits from an enhanced construction system, including high-
performance building insulation, the use of renewable energy through photovoltaic panels
installed on rooftops, underfloor heating systems and energy consumption monitoring. In
209
Sustainability Statement 2024, Banca Transilvania Financial Group
addition, the project integrates large glazed surfaces, LED lighting and electric vehicle
charging stations, addressing the needs of residents adopting modern housing and mobility
solutions. Through these features, Viva Residence contributes to the development of an
energy-efficient living environment oriented towards long-term quality of life.
2. Sustainable transport and green logistics
Railport Arad – intermodal terminal
Railport Arad is the first container terminal in Romania, inaugurated in September 2009,
following a significant investment in logistics infrastructure. The terminal is located in
Curtici, near the Hungarian border, on the Pan-European Orient / East-Med corridor (RFC7),
and covers an area of over 10 hectares. Through its strategic positioning and dedicated
infrastructure, Railport Arad provides a viable solution for combined transport, contributing
to the development of intermodal traffic and promoting a more efficient and less polluting
transport alternative, in line with the European objective of shifting freight flows from road
to rail.
The financing granted in 2025 by Banca Transilvania primarily aimed to overcome existing
capacity constraints and increase the terminal’s operational efficiency, with a direct impact
on the sustainability of intermodal transport in the region. The investment targeted the
extension of five railway lines and two shunting lines, enabling the operation of trains with
a length of up to 740 metres, as well as the implementation of digital solutions for workflow
automation, aimed at optimising operational processes.
At the same time, the project included equipping the terminal with a photovoltaic system
for the generation of energy from renewable sources, contributing to improved energy
efficiency and the reduction of the carbon footprint of the activities carried out. Through
these investments, Railport Arad strengthens its role as a key infrastructure for sustainable
intermodal transport and supports the transition towards more efficient and
environmentally friendly logistics solutions.
3. Renewable energy
Baboia Solar Plant – photovoltaic power plant
The ENERY Group is one of the leaders in the Romanian market in the transition towards
green energy, through the acquisition, development, construction and operation of large-
scale renewable energy power plants. The Group, with 98 sites, has an operational portfolio
of 566 MW and provides clean and reliable electricity to a wide range of communities,
companies and utilities.
210
Sustainability Statement 2024, Banca Transilvania Financial Group
At the same time, it is developing greenfield projects in other Central and Eastern European
markets, in countries such as the Czech Republic, Slovakia, Bulgaria, Austria, Estonia and
Latvia.
Baboia Solar Plant, part of the ENERY Group, is developing in Romania a large-scale
photovoltaic power plant located in Ogrezeni, Giurgiu County. The financing provided by
Banca Transilvania is part of a syndicated loan aimed at developing 761 MWp of installed
capacity and over 1,000 MWh of storage capacity. The ENERY Group’s investments in
Romania include 9 photovoltaic plants, 4 wind farms and 2 hydropower plants, totalling over
205 MW of installed capacity.
Nova Power & Gas – energy storage project
Nova Power & Gas, a 100% Romanian company, electricity producer and supplier of natural
gas and electricity, is one of the pillars of the E-INFRA Group, alongside Electrogrup, Direct
One, Netcity and WESEE. Together, the group of companies provides some of the most
advanced infrastructure services in energy, telecommunications, construction and energy
solutions for sustainable cities in Romania. The Group has production capacities with an
installed capacity of over 500 MW, while production from renewable sources alone exceeds
350 GWh per year.
The investment financed in 2025 aims at the financing/refinancing of the largest energy
storage facility in Romania, located in Florești, with a storage capacity of 200 MW / 400
MWh.
The company’s plans until 2028 include the development of a new 160 MW combined cycle
gas power plant and the development of new energy storage facilities with a capacity of
600 MW / 1,200 MWh.
4. Special environmental and circular economy financing
Ecosistem SRL
Ecosistem SRL is a company based in Vrancea County, with over 20 years of activity,
specialized in the recovery and treatment of recyclable materials. The company manages
a wide range of waste streams, including cardboard, paper, plastic, wood, metal, glass and
waste electrical and electronic equipment (WEEE). Within its operational platform, activities
such as collection, sorting and volume reduction of waste through shredding or pressing
are carried out, representing preliminary steps necessary to prepare materials for recycling.
Through its operations, Ecosistem SRL contributes annually to reintroducing over 10,000
tonnes of materials into the economic cycle, which would otherwise be disposed of as
waste.
211
Sustainability Statement 2024, Banca Transilvania Financial Group
The financing provided by Banca Transilvania supported an investment program
implemented under a project financed through the National Recovery and Resilience Plan
(NRRP), in the form of investment loans used as co-financing. The project aimed at
constructing new production facilities and equipping them with technological equipment
dedicated to waste recycling, including weighing systems, sorting and drying lines for
LDPE/LLDPE plastic waste, granulation lines and shredding equipment. In addition, the
investment included the installation of photovoltaic systems with a capacity of 176 kW,
supporting the use of renewable energy in operational activities.
Complementing these investments, the company also contracted a working capital loan
guaranteed by the European Investment Fund, ensuring operational continuity and stability
of business flows. Through these financings, Ecosistem SRL strengthens its capacity to
transform waste into reusable raw materials and contributes to the development of the
circular economy, with a positive impact on the environment and resource efficiency.
MINET S.A.
Founded in 1981, MINET S.A. is the largest nonwoven textiles producer in Romania, with
fully Romanian capital and part of the Minet Group. The company holds a strong market
position, with its products being used across a wide range of industries, including
construction (underground drainage systems, geomembrane protection in waste storage,
anti-erosion barriers in flood-prone areas), furniture manufacturing, cosmetics (wet wipes),
and the textile industry (fillings for pillows and duvets, quilted materials).
The investment loans granted aim to support the development of a dedicated textile waste
recycling facility, with the primary objective of valorizing recycled materials by integrating
at least 50% recycled content into the manufacturing process of finished products. Textile
waste is highly polluting and rarely recycled, and MINET S.A.’s activity is expected to make
a significant contribution to the development of the circular economy in Romania.
The investment includes the construction of a production hall and the acquisition of
equipment based on Best Available Technology (BAT), featuring integrated systems for
operation, monitoring and intervention, IoT-enabled technologies and a high level of
automation. The facility and equipment will be powered by a 100 kW rooftop photovoltaic
system, supporting energy efficiency in the production process.
Professional Recycle
Established in 2010, Professional Recycle is one of Romania’s leading companies in the
plastic recycling sector, specializing exclusively in PET recycling. Through a business model
focused on quality, professionalism and strong partnerships with external stakeholders, the
company has rapidly established itself in the market and contributed to the development
of an efficient value chain for recyclable materials. Its focus on PET recycling reflects the
superior efficiency of this process in terms of resource use and climate impact: producing
212
Sustainability Statement 2024, Banca Transilvania Financial Group
a bottle from recycled PET requires approximately 75% less energy compared to virgin
material, and each tonne of recycled PET (rPET) avoids around 1.5 tonnes of CO₂ emissions
compared to producing an equivalent amount of new PET.
Banca Transilvania provided a working capital loan to support the smooth functioning of
the entire recycling chain, from collection to processing and reintegration of recycled raw
materials into production. This financing supports the company’s operational continuity and
the efficiency of recycling flows, contributing to the strengthening of the circular economy.
Professional Recycle’s activity is closely linked to the Deposit Return System (DRS) in
Romania, managed by RetuRO, which represents the main source of PET packaging
collected for recycling. In this context, the company’s investment plans, aimed at doubling
its recycling capacity, will accelerate the valorisation of collected materials and support the
reduction of environmental impact through the reuse of recycled PET as a raw material.
Romcarbon SA
Romcarbon S.A. is a joint-stock company based in Buzău County, listed on the Bucharest
Stock Exchange under the symbol ROCE, with a long-standing presence in the plastics
industry, established in 1952. The company is one of the leading plastic packaging
producers in Romania, specializing in the processing of polyethylene, polypropylene, PVC
and polystyrene. Romcarbon’s operations are certified in accordance with ISO 9001 and
ISO 14001 standards, while its recycling activities are certified under EuCertPlast, the
European certification scheme for plastics recyclers. Since 2012, the company has
complemented its packaging production activities with a dedicated post-consumer plastic
waste recycling segment, contributing to the transition towards a circular economy. Its
operations are organized across several business lines, including the production of
automotive filters, respiratory protection equipment (gas masks and industrial masks),
plastic films and bags, as well as road signage.
The financing provided by Banca Transilvania supported the implementation of a project
co-financed through the National Recovery and Resilience Plan (NRRP), with the main
objective of establishing a modern facility for recycling and recovery of plastic waste. The
investment loans were used for the acquisition of technological equipment to be installed
in the new unit, including the replacement of existing sorting and washing lines for plastic
fractions, modernization of waste sorting and shredding processes, and the
implementation of solutions for treating wastewater generated during recycling operations.
The investment also includes the installation of an extruder for recycling shredded
polypropylene and polyethylene films and bags, contributing to increased efficiency and
processing capacity of recycled materials.
The recycling of post-consumer plastic waste represents a strategic priority at the
European Union level. The Regulation on packaging and packaging waste sets ambitious
targets, including for Romania, such as the requirement that by 2030, polypropylene and
213
Sustainability Statement 2024, Banca Transilvania Financial Group
polyethylene packaging must contain at least 35% recycled material, as well as restrictions
on placing certain non-recyclable packaging on the market. Romcarbon’s investments in
modernization and expansion of recycling capacities directly address these regulatory
requirements, contributing to increased material circularity and reduced environmental
impact.
Social impact financing – healthcare sector, Medical Division
Scan Expert
Scan Expert is a medical company specialized in high-performance medical imaging,
supporting the local healthcare system by providing fast, accurate and detailed diagnostic
investigations. The company’s activity is based on the use of state-of-the-art equipment
with low energy consumption, complemented by advanced software and IT infrastructure,
including AI-based image processing solutions.
The company provides medical imaging services both for emergency care units and on an
outpatient basis, with a national presence through its centers located in Iași (two clinics),
Pașcani (Iași County), Timișoara (two clinics), Roman, Galați, Brașov and Botoșani (two
clinics), including through its group company Optim Diagnostic. This extensive network
contributes to improving patient access to advanced imaging services across multiple
regions of Romania.
Through financing provided by Banca Transilvania, Scan Expert has continuously expanded
its technological capabilities, investing in modern medical imaging equipment such as
magnetic resonance imaging (MRI), computed tomography (CT), ultrasound, radiology (X-
ray), mammography and colonoscopy. To ensure broad accessibility of its services, the
company has contracts in place with local Health Insurance Houses, facilitating patient
access to reimbursed advanced imaging investigations. In this context, the development of
capabilities and infrastructure dedicated to cardiac imaging represents one of the
company’s key strategic directions.
In 2025, Banca Transilvania financed the acquisition of state-of-the-art equipment enabling
both standard and specialized imaging investigations, including:
• Cardiac stress MRI (myocardial perfusion with adenosine);
• Pelvic MRI with dedicated protocols for accurate diagnosis of endometriosis;
• MRI with sedation for pediatric patients;
• Digital mammography with 3D tomosynthesis.
214
Sustainability Statement 2024, Banca Transilvania Financial Group
Among the key equipment financed in 2025 are:
• Siemens MAGNETOM Vida 3 Tesla MRI, a high-performance system equipped with
BioMatrix technology, designed to automatically adapt to each patient’s anatomical
and physiological variability;
• Siemens MAGNETOM Sola 1.5 Tesla MRI, built on a high-performance platform
integrating power, intelligence and processing speed;
• Siemens MAMMOMAT Revelation mammography system, enabling full 3D breast
imaging through wide-angle (50°) tomosynthesis technology.
Through these investments and the integration of advanced imaging technologies, Scan
Expert contributes to improving the quality of medical services, reducing diagnostic time
and enhancing patient access to high-precision healthcare, supporting the development of
a modern and efficient medical infrastructure.
Onco Systems SRL – Regional Institute of Oncology Iași
Onco Systems is a company specialized in the provision and implementation of integrated
solutions for radiotherapy and oncology, operating in the high-technology medical
equipment market. The company collaborates with leading international manufacturers and
with both public and private medical institutions in Romania, contributing to the
modernization of oncology infrastructure at national level.
Through its technical expertise and experience in complex projects, Onco Systems delivers
end-to-end services, including equipment supply, installation, commissioning, medical staff
training and specialized maintenance.
In 2025, Banca Transilvania provided financing to Onco Systems SRL for the
implementation of a project aimed at equipping the Regional Institute of Oncology Iași (IRO
Iași) with the RADIXACT radiotherapy platform developed by ACCURAY, a state-of-the-art
technology designed for advanced cancer treatment.
The RADIXACT system, equipped with SYNCHRONY technology, is among the most
advanced radiotherapy platforms available globally. It integrates cutting-edge treatment
planning and delivery technologies, enabling real-time adaptation to tumor position and
movement, thus ensuring highly precise targeting of tumor formations. This technology
enhances treatment effectiveness, reduces associated complications and improves long-
term therapeutic outcomes, with a direct impact on patients’ quality of life and survival
rates.
The financing supports:
• Acquisition of the full RADIXACT system;
• Development and compliance of technical facilities;
• Installation and integration within the existing infrastructure of IRO Iași;
215
Sustainability Statement 2024, Banca Transilvania Financial Group
• Commissioning and clinical implementation;
• Training of medical personnel for the use of new technologies;
• Related services and technical support;
• VAT associated with the import of the equipment.
The investment contributes to increasing oncology treatment capacity in the North-East
region by modernizing the Radiotherapy Laboratory within IRO Iași and equipping it with
high-performance technology. The project will enable the Institute to provide more precise
and effective treatment services, align with advancements in medical practice and respond
adequately to the complex needs of oncology patients.
The project generates significant social impact through:
• Increased access to high-quality medical services for oncology patients in the
North-East region, enabled by the local availability of advanced radiotherapy
technology;
• Improved precision and effectiveness of treatments, directly contributing to
enhanced quality of life and improved survival rates;
• Modernization of the public healthcare system’s technological base and alignment
with international standards;
• Strengthening the role of the Regional Institute of Oncology Iași as a regional center
of excellence in oncology care.
RETINA Clinic
RETINA Clinic was established in 1998 by Prof. Dr. Florian Baltă and was conceived as a
reference medical unit in the field of ophthalmology, built on professional expertise, medical
rigor and respect for patients. Over time, the clinic has consolidated its reputation through
reliability, professionalism and consistent medical performance, with a mission to provide
ophthalmological services at the highest standards and to maintain patients’ health as a
central priority in medical practice.
In 2025, Banca Transilvania provided financing for the acquisition of the property in which
RETINA Clinic operates, supporting the consolidation of a modern medical facility adapted
to current ophthalmology requirements and patient needs. This financing contributed to
ensuring a stable and high-performance environment for the delivery of medical services,
supporting the continuity and development of the services provided.
The clinic is organized across four levels, ensuring an efficient and integrated medical flow.
Activities are carried out within a modern outpatient facility, equipped with eight
consultation rooms fitted with state-of-the-art medical equipment, as well as two fully
equipped operating theatres dedicated to ophthalmic interventions. At ground floor level,
the optical shop complements the clinical pathway by offering personalized optical
216
Sustainability Statement 2024, Banca Transilvania Financial Group
solutions and specialized advisory services, contributing to the provision of a
comprehensive service package for patients.
Medical expertise is supported by a team of 23 physicians, providing consultations and
treatments for both children and adults, covering a wide range of specialties, including
surgical and medical retina, glaucoma, cataract, uveitis and ocular inflammation,
oculoplastics, pediatric ophthalmology and neuro-ophthalmology. Through its modern
infrastructure and the expertise of its medical team, RETINA Clinic contributes to improving
access to specialized medical services and to enhancing the quality of ophthalmological
care.
Transilvania Medical Center – Transilvania Hospital
Transilvania Medical Center represents the first Danish private investment in the medical
sector in Romania and is a member of the Danish-Romanian Business Association. The
organization has established itself as one of the leading providers of magnetic resonance
imaging (MRI) services in Cluj-Napoca, supported by high-performance equipment and a
team of highly qualified radiologists.
Transilvania Hospital, developed as an integral part of this medical ecosystem, has become
a benchmark both regionally and nationally since its opening, offering comprehensive and
complex services, including outpatient consultations, laboratory testing, advanced medical
imaging, surgical interventions and inpatient care. The building was designed and
constructed from the outset as a hospital facility, with integrated infrastructure, medical
equipment and operational layouts forming a unified system aimed at supporting medical
excellence and high standards of care.
The hospital was built from the ground up, covering an area of approximately 2,500 sqm,
and is designed to ensure efficient medical flows for both patients and medical staff, as
well as a functional and comfortable environment. Its inpatient capacity allows for the
simultaneous hospitalization of 44 patients, accommodated in single or double rooms.
State-of-the-art technology is integrated across both the operating block and imaging
infrastructure, with all equipment being of advanced standard.
The hospital is structured across six functional levels, as follows:
• Basement: staff facilities, technical equipment areas and the 3T MRI Imaging Center;
• Ground floor: emergency unit, patient reception, CT Imaging Center, elevator area
and admissions office;
• 1st floor: conventional radiology (X-ray) center, RENAR-accredited laboratory,
consultation rooms and inpatient wards;
• 2nd floor: inpatient wards;
217
Sustainability Statement 2024, Banca Transilvania Financial Group
• 3rd floor: operating block with two operating theatres, biplane angiography system
for interventional radiology, sterilization area and Intensive Care Unit;
• 4th floor: administrative area, meeting rooms and medical rehabilitation facilities.
In 2025, Banca Transilvania provided an investment loan for the acquisition of a 4th-
generation da Vinci® X 3D-HD robotic surgical system with four arms, including a full
package covering installation, space assessment and servicing. The financing supported
the implementation of a Robotic Surgery Program, based on a multidisciplinary approach
(general surgery, urology, gynecology and thoracic surgery), involving three surgical teams
enrolled in a Continuous Training Pathway, proctoring sessions and complementary
equipment such as the AirSeal Intelligent Insufflator, DORA – OR Assistant and dedicated
endoscopes.
Robotic surgery is a minimally invasive technique in which the surgeon controls a robotic
system to perform highly precise interventions. The da Vinci technology accurately
replicates the surgeon’s movements and enables procedures in complex anatomical areas,
offering enhanced control, visibility and safety, reducing the risk of complications and
optimizing post-operative recovery. Through the introduction of this technology,
Transilvania Hospital provides patients with access to complex surgical procedures
performed with a high level of precision, safety and comfort, further strengthening its
position as a provider of high-quality medical services.
Green and social projects supported by Victoriabank
In line with its commitment to supporting the transition towards a sustainable, low-carbon
economy, Victoriabank continued in 2025 to provide dedicated financing for green projects,
with a focus on developing renewable energy generation capacities. Through these
financings, the bank supported relevant investments in the energy sector, contributing both
to the expansion of local clean energy production and to the modernization of the energy
infrastructure in the Republic of Moldova.
The financed projects include:
• Delta Green Energy SRL, which received financing for the acquisition and installation
of two Enercon E-70 wind turbines, with a total installed capacity of 4 MW;
• Mistral Tours SRL, beneficiary of financing for the development of a photovoltaic
park with a capacity of 1,000 kW;
• Doni Cons SRL, which obtained financing for the construction of a photovoltaic park
with a capacity of 1,500 kW, including the acquisition of equipment and related
services.
By supporting these projects, Victoriabank contributes to the development of renewable
energy generation capacity, the reduction of carbon emissions and the strengthening of
energy security. At the same time, the financed investments facilitate the adoption of
218
Sustainability Statement 2024, Banca Transilvania Financial Group
modern technologies, reduce dependence on conventional energy sources and support the
sustainable development of local communities.
219
Sustainability Statement 2024, Banca Transilvania Financial Group
3.4 Entrepreneurial Education and Financial Education
Entrepreneurship education is an essential pillar for the sustainable development of
companies, as it provides the tools necessary for efficient resource management, reducing
financial risks, and maximizing long-term performance. By strengthening these skills,
organizations can enhance their resilience and competitiveness in a constantly changing
economic environment. For individual customers, financial education is equally important,
helping to build the ability to make informed decisions regarding saving, investing, and
responsible spending. This supports personal financial stability and, at the same time, the
ability to actively participate in the modern economy. By providing these educational
resources to both the business community and the general public, the BT Group
contributes to the development of a robust economic ecosystem, supporting individuals in
acquiring the skills necessary for effective financial management and for launching
sustainable entrepreneurial projects. In this way, the BT Group assumes the role of a
facilitator of responsible economic growth and financial inclusion at the national level.
STUP
The STUP project, developed by Banca Transilvania and BT Microfinanțare IFN (BT Mic),
represents a unique benchmark in the Romanian entrepreneurial landscape, offering
continuous entrepreneurial education through practical programs, thematic modules, and
dedicated resources. Unlike other initiatives in the market, STUP stands out for its
integrated approach, where each member benefits from relevant training focused on direct
business application, with the support of the best specialists and partners in the field.
Free access to the STUP community is a fundamental pillar: any entrepreneur or aspiring
entrepreneur can participate in workshops, courses, and events and has access to
educational resources at no cost, regardless of whether or not they are a client of the BT
financial group. This open framework transforms STUP into an inclusive space where
continuous education and the exchange of experiences are accessible to everyone,
regardless of the stage of their business or their relationship with the BT Group.
Personalized consulting, networking opportunities, and benefits offered by partners are
made available to members at no additional cost to STUP. In essence, STUP becomes a
true “one-stop shop” where entrepreneurs can find support for their business development,
access financing, exchange ideas, and build valuable connections for the future.
STUP is, thus, a framework where entrepreneurs can come to learn, identify potential
partners, access financial resources, and connect with other members of the
entrepreneurial community who share a mindset focused on growth and sustainable
development. The project functions as a genuine ecosystem, built to stimulate business
development and strengthen Romania’s entrepreneurial community. The activities carried
out, ranging from seminars to consulting services, are designed to address the real needs
220
Sustainability Statement 2024, Banca Transilvania Financial Group
of entrepreneurs, providing a cohesive framework for development, connection, and
growth.
STUP is a platform dedicated to supporting entrepreneurs, offering access to
entrepreneurial and financial education programs, workshops, seminars, consulting,
networking opportunities, and specialized resources. By integrating these components into
a unified framework, the initiative contributes to the development of entrepreneurial skills
and supports the business environment in Romania. In 2025, the entrepreneurial education
programs continued under the umbrella of “Avânt din Stup,” as follows:
- The “Avânt în antreprenoriat” program – 8 editions by the end of 2025; the program
offers a “journey” across 10 sessions, based on the Business Model Canvas, which
guides participants through the main areas of a business: understanding the market
and customers, the sales process, the marketing plan, financial information, as well
as calculating basic financial indicators and creating a cash flow projection for the
coming period;
- The “Sales Boost” program - structured into 6 modules - offers the opportunity to
gain an in-depth understanding of the entire sales process, from prospecting and
qualifying potential customers to identifying their needs and through the negotiation
process; 7 groups have already benefited from this program;
- The “Boost in Finance” program, across its four editions, has brought together
entrepreneurs eager to learn practically how to calculate and interpret the key
financial indicators of their business, fully identify expenses, and efficiently allocate
profits (based on the “Profit First” method), distinguish between Cash Flow and P&L,
and plan for sustainable business growth.
- The “Avânt în digital marketing” program - which has run for three editions under
the umbrella of the “Avânt din Stup” programs - is a practical program designed for
entrepreneurs who want to attract new customers and better understand how
performance media works, how to implement campaigns on Google Ads and Meta
Ads, and how to analyze campaign results.
INFO
2024
2025
Total number of event participants
8,872
9,712
Total number of STUP events
264
318
Facilitating access to non-financial business solutions
3,825
3,859
STUP Community (number of accounts opened on the
platform)
30,705
40,393
221
Sustainability Statement 2024, Banca Transilvania Financial Group
Financial education programs for the community
„FIT - Finanțe pe Înțelesul Tuturor”
In a context where financial education remains a structural challenge in Romania, with over
30% of Romanians being financially illiterate and only 10% possessing basic financial skills,
according to the 2023 Eurobarometer, Banca Transilvania maintained its firm commitment
in 2025 to driving change through the FIT program: Finance for Everyone. Launched in
2023, FIT has gradually become more than just a project: a national financial education
infrastructure, built to bring clarity where the numbers show the greatest need.
2025 was the year in which FIT consolidated its presence and impact, developing a
balanced mix of digital content, offline interactions, and community engagement. The
program continued to translate complex financial concepts into simple, accessible, and
useful explanations: a necessary step in a country where questions such as “how do you
save?”, “how does interest work?”, or “what is the difference between investing and
spending?” still lack clear answers for a large portion of the population.
Following the success of the “De Toți Banii” series, 2025 brought an expansion of the FIT
universe into the online space with the launch of additional content from the “Descifrat.”
series. Featuring creators and guests highly relevant to young audiences - from Selly and
Denisa Tănase to Ianis Hagi and Paul Olteanu - the program continued to explain financial
topics in a friendly, modern, and easy-to-consume format. The results confirmed the
content’s usefulness and appeal: over 500,000 views on YouTube, 15 million views on
TikTok, and another 700,000 on social media.
The FIT online platform is a digital channel through which the bank provides the public with
financial education resources, including articles, videos, and interactive tools. Among the
available modules is the financial education quiz, which includes the FIT quiz with over
15,000 people entered in the 2025 prize draw and the online safety quiz, which has
recorded over 130,000 contest entries, according to reports extracted from the internal
Siebel platform. The prizes up for grabs, ranging from smart devices to festival passes,
boosted participation, but the real goal was educational: testing and reinforcing financial
knowledge.
2025 also marked an intensification of FIT’s presence at major festivals in Romania: an
unconventional space for financial education, yet highly relevant to young audiences. FIT
thus reached hundreds of thousands of people through dedicated activations at Electric
Castle (274,000 attendees), Untold (427,000 attendees), and Beach Please (150,000
attendees). Interactive experiences, educational materials, and live activations transformed
financial topics into natural discussions, integrated into contexts familiar to the audience.
222
Sustainability Statement 2024, Banca Transilvania Financial Group
In 2025, FIT organized over 400 financial education presentations in elementary and high
schools, where over 50,000 educational kits were distributed to the same number of
participants.
With over 5 million people exposed to online content, hundreds of thousands of direct
interactions, and a constant presence in spaces relevant to the public, FIT has solidified its
position as a robust and consistent initiative in the field of financial education in Romania.
The program continues to evolve through dedicated projects, updated resources, and
nationwide campaigns, providing the public with clear, accessible, and relevant information
for a better understanding of personal finance.
A Different Kind of School
Through Școala Altfel, colleagues from BT branches are directly involved in financial
education activities in schools, at the invitation of teachers. The initiative is aimed at
children and young people aged 4 to 18 and aims to help them understand, from an early
age, the importance of proper and responsible money management.
During these sessions, our colleagues use FIT - Banca Transilvania’s financial education
program, designed specifically to translate financial concepts into language accessible to
all age groups. Using FIT’s materials and structure, they deliver interactive presentations
tailored to the students’ level of understanding and guide them through hands-on learning
exercises.
Participants learn:
- how to distinguish between needs and wants
- the consequences of their decisions on how they spend their allowance
- how to save, prioritize, and plan
- what a personal budget is and how to manage it effectively
Through these activities, students gain not only useful information but also a healthy
perspective on their relationship with money. FIT thus becomes a tool through which BT
contributes to shaping a generation that is more informed, more responsible, and better
prepared for the financial challenges of everyday life.
BT Club
BT Club – The Romanian Entrepreneurs’ Club. Founded by Banca Transilvania in 2006, BT
Club is an exclusive platform designed for entrepreneurs interested in developing their
businesses and skills through access to educational resources and networking
opportunities. Members have free access to a wide range of training sessions, workshops,
webinars, seminars, and conferences covering topics ranging from strategic management
and employee motivation to sales, human resources, and innovative solutions for business
223
Sustainability Statement 2024, Banca Transilvania Financial Group
growth. BT Club also facilitates meetings and the formation of partnerships with other
entrepreneurs who share the same ideas and values, fostering a dynamic and supportive
community. The club also offers free consulting through club partners and Banca
Transilvania’s European Programs Department, supporting entrepreneurs in accessing and
developing projects eligible for structural fund financing.
Throughout 2025, BT Club continued to strengthen its role as a partner to the business
community by organizing two landmark events. The second edition of the HR Connect
Conference, held in Cluj-Napoca on March 20, 2025, brought together human resources
professionals in a setting dedicated to the exchange of ideas and best practices.
Subsequently, on November 13, 2025, also in Cluj-Napoca, the second edition of the
Sales Connect Conference took place, an event focused on current trends in sales and the
development of commercial skills.
Ask BT
Ask BT is an online platform, designed as a search engine, with over 2,000 questions and
answers about banking, as well as about the products and services of Banca Transilvania
Group companies. Thanks to the integration of artificial intelligence, people searching for
information using AI Search receive a comprehensive answer to their online questions,
based on all the details available on Ask BT regarding that topic.
• Over 3.5 million people visited the site in 2025, and nearly half a million did so to
chat with AI Search
• On average, visitors ask 3 questions via AI Search and stay in the conversation for
about 3 minutes
• Visitor interest has shifted from year to year, so the most searched-for information
is about the BT Pay and BT Go apps and about BT products and services
• Nearly 80% visit the site from a mobile phone, and 55% arrived at the site via direct
access.
• Internationally, the site is visited primarily from Germany, the United Kingdom, Italy,
Spain, and France. The number of visits from the Republic of Moldova has increased
year over year.
Banca Transilvania is the first bank in Romania to integrate artificial intelligence into its
online communication, services, and processes, using both Robotic Process Automation
(RPA) and Large Language Models (LLM).
#mentoratpebune
The “Mentorat pe bune” program is an informal meeting format designed to facilitate
authentic and open discussions about the realities of entrepreneurship in Romania. The
event offers a sincere space for dialogue, free of clichés or filters, where participants share
224
Sustainability Statement 2024, Banca Transilvania Financial Group
real experiences, lessons learned, and practical insights relevant to business development.
Structured as an interactive dialogue rather than a traditional conference, the event
encourages entrepreneurs to talk about their journey, seek advice, and connect with other
members of the entrepreneurial community. The small number of participants is a
deliberate choice, intended to maintain an authentic setting and facilitate valuable
exchanges of expertise.
The guest for the 2025 edition was Radu Savopol, co-founder of the 5 to go chain, one of
the strongest Romanian brands in the coffee industry. With over 20 years of experience in
entrepreneurship, he shared his journey, from humble beginnings in a space of just 13 m²
to the development of the largest coffee shop network in Eastern Europe, with over 600
locations. During the meetings in Arad and Târgu Mureș, he spoke about the initial
challenges, the mistakes that shaped subsequent decisions, the key moments, and the
courage that underpinned the brand’s expansion. The event is dedicated to entrepreneurs
who want to learn, be inspired, and grow in an authentic way, #pebune.
BT Business Line
As part of its initiatives to support entrepreneurs, the BT Group launched a mini-series of
short videos designed to help people understand the products and services offered to
businesses. Each episode was produced in an accessible and dynamic format, featuring an
influencer or comedian who is also an entrepreneur engaging in a conversation with a BT
colleague about common questions and challenges when interacting with the bank. These
conversations addressed “FAQ”-style topics, presented in a friendly and engaging style,
with the goal of making the basics of banking easier for entrepreneurs to understand.
The series covered the most relevant topics for the business segment, ranging from
checking accounts, POS systems, and the bank’s digital apps to online security and
checking account packages. Through this initiative, the bank provided clear, easy-to-
understand explanations, thereby supporting the development of financial literacy within
the entrepreneurial community.
Financial education projects and youth projects at Victoriabank
The “A Memorable Day at the Bank” Project
In 2025, Victoriabank reaffirmed its commitment to youth development, promoting financial
education as an essential pillar of social sustainability. The bank’s headquarters hosted over
100 children and young people, ranging from first-grade students to high school students
in grades 10–12 from educational institutions in the capital. The Human Resources team
designed a customized program aimed at capturing the attention and sparking the curiosity
of both students and accompanying teachers.
225
Sustainability Statement 2024, Banca Transilvania Financial Group
The activities included thematic sessions dedicated to:
• The history of banking and the evolution of banknotes;
• The structure of a commercial bank;
• How ATMs and operational infrastructure work;
• Responsible money management;
• The use of digital banking.
In this way, Victoriabank contributes to the development of a new, informed, and
responsible generation, encouraging the adoption of healthy financial behaviors and
facilitating young people’s early access to the fundamental concepts of financial education.
Victoriabank Partnership with AIESEC CHIȘINĂU
In 2025, for the third consecutive year, Victoriabank continued its partnership with AIESEC
Chișinău, the largest global youth organization focused on developing leadership and
entrepreneurial skills among young people. AIESEC is an international organization led by
young people, students, and recent graduates of higher education institutions who are
passionate about global issues, leadership, and management. This partnership reflects the
shared commitment of Victoriabank and AIESEC Chișinău to support the personal and
professional development of young people in Moldova and to actively contribute to the
well-being of the community. In 2025, two editions of the joint project “Career Orientation:
Zoom in Victoriabank” were organized. The event offered young people networking
sessions and interactive workshops, training, and facilitated direct interaction with
professionals from various departments within the bank: Human Resources, IT, Customer
Service, Audit, Marketing, Operations, Treasury, Risk, Accounting, etc., including
opportunities for internships, job shadowing, and employment. The project provided
valuable hands-on experience and an authentic learning environment for young people
interested in a career in banking. Additionally, the bank participated in meetings with
students as a partner, where it presented the opportunities offered by Victoriabank as an
employer. In addition, Victoriabank employees conducted training sessions for young
people, sharing their professional experience.
Victoriabank Partenrship– Diez.md
In 2025, Victoriabank continued its strategic collaboration with the diez.md platform, a
portal recognized for its contribution to informing and supporting young people in the
Republic of Moldova through educational initiatives and projects dedicated to career
guidance. As part of this collaboration, two professionals from Victoriabank, the Deputy
Director of Human Resources and an Auditor from the Internal Audit Department,
participated in media projects aimed at presenting authentic perspectives on careers in the
banking sector and inspiring young people on their professional paths. Through employee
participation, Victoriabank was able to offer young people in Moldova real-life examples of
professional development in the banking sector and to highlight an organizational culture
226
Sustainability Statement 2024, Banca Transilvania Financial Group
based on continuous learning, dedication, and performance. These authentic testimonials
have helped strengthen the bank’s position as an attractive, people-oriented employer
committed to supporting young people.
Global Money Week
For the fourth consecutive year, Victoriabank has joined the international Global Money
Week campaign, an initiative supported by the National Bank of Moldova, designed to
inspire and educate children about the importance of responsible money management. This
year, 34 students from Primary School No. 120 “Pas cu Pas” in Chișinău, accompanied by
teachers and a group of parents, were our guests.
In a friendly and interactive atmosphere, the children explored essential concepts such as
the value of money, saving, managing expenses, and smart investing. Through hands-on
activities and real-life examples, they learned how banks work, what a savings account is,
and why it’s important to make wise financial choices from a young age.
With the help of Victoriabank specialists, the young participants analyzed various
international currencies, discovered how banknotes are secured, and learned how to
recognize authentic ones.
One of the highlights of the young students’ visit was the demonstration at the
multifunctional ATM installed at the Head Office. The children were shown how to use an
ATM, what transactions they can perform, and how cards are protected against risks. In
addition, the students had the opportunity to see how mobile banking apps work and how
electronic payments are made - essential elements in an increasingly digital world.
227
Sustainability Statement 2024, Banca Transilvania Financial Group
3.5 Investments in the Community
The BT Group considers community investments an integral part of its role in the economy
and society. By directing financial resources, expertise, and volunteer involvement, the
bank contributes to the sustainable development of the communities in which it operates.
We aim for our impact to extend beyond our financial activities and generate real change in
the communities we serve. We support social projects of national significance, as well as
initiatives that address the specific needs of local communities through grassroots
involvement.
The main areas of community engagement that guide us when selecting projects to support
are:
• Supporting the Romanian economy and entrepreneurs;
• Supporting competitive sports;
• Supporting the cultural and artistic sector;
• Supporting young talent and the development of new ideas;
• Providing support and solidarity to disadvantaged communities;
• Engaging in projects related to the environment and environmental protection.
Responsibility for sponsorship policies and procedures lies with the Marketing,
Communications, and PR Department. The selection of CSR projects in which we
participate is based on clear criteria, such as: relevance to the community, alignment with
BT’s brand values and positioning, potential for long-term impact, and the ability to
generate engagement and visibility consistent with the communication strategy;
developing long-term partnerships with nonprofit organizations.
Eligible for sponsorship are non-profit legal entities, public institutions and authorities, as
well as public figures residing in Romania who are active in the aforementioned fields. In
addition, we support radio and TV programs, as well as editorial projects - books or
publications - that fall within these areas of interest.
At the local level, the Bank’s branches have annual budgets dedicated to sponsorship,
which they manage in accordance with internal procedures, supporting initiatives that have
an impact on the communities where they operate. Sponsorship thresholds and the
distribution of funds to branches are established annually at the Leaders’ Committee
meeting.
⁙ ⁙ ⁙
In 2025, sponsorships provided by Group companies totaled 87 million RON.
As part of the community investment planning process, we consistently take into account
feedback from the associations and NGOs we collaborate with. We conduct regular
consultations and direct discussions to identify the real needs of beneficiaries, and when
228
Sustainability Statement 2024, Banca Transilvania Financial Group
new needs arise, we adapt our priorities and interventions flexibly. These ongoing
dialogues through meetings, working sessions, and evaluations throughout project
implementation allow us to best respond to the needs of the communities where we
operate.
In 2025, two of the projects we supported were recognized with GOLD awards in the
Community Index 2025, confirming their positive impact and relevance to society:
• The “DAR Scholarships” program, implemented by the Hope and Homes for Children
Foundation;
• The “What’s Next” program, run by Save the Children.
The impact of sponsored projects is assessed both during their implementation and upon
completion. In collaboration with partner NGOs, we establish clear objectives and actions
at the start of the project, after which we monitor progress through regular discussions and
adapt if additional needs arise. At the conclusion of each project, we request a detailed
report highlighting:
• how the funds were used,
• the number and profile of beneficiaries,
• the degree to which the initially established activities were carried out,
• the project’s sustainability and the continuity of interventions.
As key evaluation indicators, we look at the number of beneficiaries, the relevance and
effectiveness of the activities carried out, the transparent use of funds, and the potential
to generate a lasting impact.
Regarding our colleagues’ involvement in volunteer activities, we do not have a formal
internal policy dedicated to volunteering, but we actively encourage participation in
initiatives that have an impact on the community. The most common projects are the annual
reforestation efforts, and in 2025 we also organized a hike along the Via Transilvanica, in
which over 600 BT colleagues participated, strengthening team spirit and contributing to
environmental protection.
Environmental Projects
Reforestation initiatives
In 2025, reforestation efforts continued through two initiatives carried out in April in the
Transylvania region.
Together We Plant a Forest, a project carried out in partnership with the Beard Brothers
Association and launched in 2023, involved planting 10,000 oak and ash saplings across 3
hectares in the village of Suarăș, Bobâlna commune. Over 500 volunteers participated in
the initiative.
229
Sustainability Statement 2024, Banca Transilvania Financial Group
As part of the “We Reforest EC Village” initiative, held in Bonțida, 1,000 saplings were
planted across 1 hectare, with the involvement of over 100 volunteers. The project was
launched in 2023 and is carried out annually.
From 2014 to the present, the Bank has invested over 600,000 euros in volunteer
reforestation programs carried out in the counties of Cluj, Bistrița-Năsăud, Călărași, and in
Bucharest. By the end of 2025, over 14,000 volunteers had actively participated in these
initiatives, planting over 340,000 saplings across nearly 90 hectares of land, which have
since grown into forests.
Through these efforts, the Bank makes a tangible contribution to protecting the
environment and conveys a powerful message of responsibility, engagement, and care for
nature to younger generations.
Via Transilvanica - Tășuleasa Social
The partnership between Banca Transilvania and the Tășuleasa Social Association has a
history spanning over a decade and is based on shared values such as environmental
stewardship, local community development, and civic engagement. The collaboration
began with volunteer programs for reforestation through the Transylvania Forest initiative,
in which thousands of BT volunteers have contributed, over the years, to planting hundreds
of thousands of saplings in several counties across the country.
Starting in 2023, the partnership was expanded to a strategic level through support for the
Via Transilvanica project, the road that unites, Romania’s first long-distance trail, which
crosses the country over a distance of approximately 1,600 kilometers. Since then, we have
supported the project through financial contributions, volunteer activities, as well as
through promotion and the active involvement of our employees. The Bank’s involvement
contributes to the preservation of Romania’s natural and cultural heritage, the revitalization
of rural areas, and the strengthening of a sense of belonging and unity among the
communities along the route.
The project enjoys high visibility among the public and managed to attract over 140,000
hikers last year, with Via Transilvanica becoming an international landmark.
Cultural Events
BT x MARe
The Museum of Recent Art (MARe) houses a representative collection, bringing together
over 1,300 works by national and international artists, with a particular focus on art created
from the 1960s to the present. The collection focuses on local art from the past 50 years,
reflecting the evolution and diversity of Romania’s contemporary art scene.
230
Sustainability Statement 2024, Banca Transilvania Financial Group
The museum space covers approximately 1,200 square meters, spread across five levels of
a building with spectacular architecture, and displays over 150 works to the public, in
accordance with museographic standards.
MARe is a cultural project playing an active role in the development and consolidation of
Romania’s contemporary art scene, contributing to increased visibility for artists and the
promotion of their works.
Throughout 2025, the museum hosted two landmark exhibitions for the cultural industry,
“All Our Todays” and “Does Anyone Want to Be Me?”, which attracted a significant number
of visitors, both through traditional visits and guided tours, as well as through creative
workshops and private events.
In 2025, Banca Transilvania entered into a partnership with MARe to organize events for BT
colleagues and clients, encouraging openness and interest in contemporary art. Through
these initiatives, the museum attracted approximately 20,000 visitors.
Through this partnership, Banca Transilvania aims to support the growth and development
of contemporary art in Romania by facilitating the general public’s access to relevant
exhibitions and works, as well as to workshops and meetings with renowned artists and
curators, dedicated to BT’s clients, colleagues, and partners.
RAD 2025 (22 – 25 mai)
Compared to the first edition of RAD Art Fair, the artistic quality of the contemporary art
fair has increased significantly year after year, as has the number of activities integrated
into the event days.
In 2025, the fair featured 28 galleries (including spaces in Bucharest, Cluj, and Timișoara,
as well as galleries in Chișinău, Warsaw, Vienna, and Berlin, all active at the highest level of
the international contemporary art scene, including Art Basel), featuring works by over 100
artists, 31 curators from 17 countries, over 1,500 VIP guests and 8,500 visitors, 100 works
in the sculpture park, 17 collateral events organized by museums/collectors and galleries,
plus 6 awards presented to the best works. Also launched were: RAD Cinema and Platform,
for emerging galleries, with a mentoring program included.
Mina.Cluj – immersive art museum
Since its opening, MINA.Cluj has launched 12 immersive shows, plus ancillary events (film
screenings or themed cinemas), which have attracted approximately 220,000 visitors to
the museum over the course of a year. An industry record, with even more visitors than the
immersive space in Bucharest. Our partnership with MINA.Cluj was heavily promoted
through both permanent branding materials and online or via BT’s communication channels
(newsletters, ATM videos, window decals at BT agencies, OOH spaces). Additionally, a key
pillar of our collaboration with them was the benefits section in BTPay for customers, as
231
Sustainability Statement 2024, Banca Transilvania Financial Group
well as special promotions designed for colleagues. We offered discounts for payments
made with any BT card, guided museum tours for colleagues, and more.
TIFF
The Transylvania International Film Festival (TIFF) continues to be one of the most
significant cultural events in Romania, contributing to cultural life and providing the general
public with access to international and local cinema. The 2025 edition, the 24th, brought
together approximately 125,000 participants in Cluj-Napoca over 10 days of screenings and
events.
The festival program included hundreds of screenings, events dedicated to the film
industry, exhibitions, and cultural activities. A large portion of the films screened, over 100
screenings, were sold out, reflecting the public’s growing interest in the cinematic diversity
promoted by TIFF.
Banca Transilvania has been the festival’s main partner since 2018 and consistently
contributes to its development and the expansion of its impact across the country. BT’s
support covers not only the main edition in Cluj, but also extensions such as TIFF Sibiu,
TIFF Timișoara, TIFF Oradea, the TIFF Unlimited Caravan, the White Night of Romanian Film,
the Sunscreen Festival, Luna Plină, Alba Iulia Music & Film, and the Gopo Awards Gala. This
long-term partnership supports cultural diversity, initiatives dedicated to film education,
and the strengthening of creative communities in Romania.
Additionally, throughout 2025, Banca Transilvania has served as a partner at major
festivals, offering creative activations, digital solutions, and financial education
components, thereby strengthening its connection with young audiences and new
generations.
The Art Encounters Foundation, based in Timișoara, is one of the most important platforms
for contemporary art in Romania and Central and Eastern Europe. In addition to its
permanent exhibition program, it organizes the Art Encounters Biennial and programs
focused on education, cultural mediation, and artist residencies.
The permanent exhibition program in 2025 featured the most comprehensive retrospective
of artist Ștefan Bertalan: “In the Rhythm of the World,” Anca Benera & Arnold Estefán: The
Unfolding of the World, and many exhibitions dedicated to emerging artists.
In 2025, Art Encounters attracted approximately 25,000 visitors through both its permanent
art program and the Art Biennial. Over 150 related events were organized: guided tours,
children’s workshops, performances, debates, and book launches.
Faber Timișoara is one of the most important independent cultural centers in western
Romania, a leading venue for contemporary art, design, and the creative industries,
attracting thousands of visitors annually through exhibitions, concerts, and cultural events,
and playing a central role in the 2025 Art Encounters Biennial.
232
Sustainability Statement 2024, Banca Transilvania Financial Group
Unfinished Festival
Unfinished is one of the most important interdisciplinary events in the region, a space
where the dialogue between technology, art, and social reflection opens new perspectives
on the world we live in. The 2025 edition marks the third year of our partnership and
continues to strengthen a community united by curiosity, ideas, and memorable
experiences. For us, participating in Unfinished represents not only support for a valuable
cultural project, but also a strategic opportunity to stand alongside the people and
initiatives that influence the directions of tomorrow’s society.
In 2025, the event attracted 3,141 participants, solidifying its role as a relevant space for
exploration and conversations about the future. The audience for this edition reflects the
modern profile of the Unfinished community: 68.95% women, 29.9% men, with the majority
in the 25–40 age group (65%).
At the same time, throughout 2025, Banca Transilvania served as a partner at major
festivals, featuring creative activation, digital solutions, and financial education
components, thereby strengthening its connection with young audiences and new
generations.
Beach, Please! 2025
The 2025 edition of the Beach, Please! festival took place July 9–13 in Costinești, bringing
together international artists and a large audience, with over 155,000 attendees on the day
with the highest turnout. Considered one of the largest urban music festivals in Europe, the
event featured BT in the participant zone, offering payment solutions, relaxation areas,
interactive activations, and a basketball court set up for the public.
Electric Castle 2025
At the 11th edition of the Electric Castle festival, which brought together approximately
289,000 attendees, BT was present through the BT World concept, significantly expanded
in 2025. The space included a relaxation area and an interactive installation set in the
nearby forest, becoming a landmark for attendees.
Activities included the interactive FIT | BT quiz with prizes and a seating area, the Kids Area
dedicated to participants’ children, featuring educational and interactive activities
organized in partnership with NGOs, as well as Chill by the Hill, a relaxation area situated
at the highest point of the festival.
Untold 2025
At the UNTOLD X anniversary edition, which brought together over 470,000 attendees, BT
was present with several spaces dedicated to the public. BT World incorporated a thematic
design and a financial education component through the FIT | BT activation, which included
an interactive quiz with prizes. The main festival area also featured the BT VIP Lounge, a
233
Sustainability Statement 2024, Banca Transilvania Financial Group
platform located near the main stage, dedicated to holders of BT x UNTOLD x VISA cards.
Additionally, the festival introduced the Kids Area, a new activation space with themed
decor and BT Pay Kiddo materials.
Nostalgia 2025
(4 editions in March, June, August, and November + two anniversary editions)
In 2025, Nostalgia featured four editions held in March, June, August, and November, along
with two anniversary editions. BT maintained a consistent presence at the event through
themed brand activations such as BT Disco World and BT Dream Vault, payment solutions,
and the FIT | BT component, which included a financial education quiz with prizes.
The 2025 presence covered three editions held in Bucharest, with approximately 170,000
participants in total, one edition in Constanța, Mamaia, with 45,000 participants, as well as
two national editions in Craiova and Oradea, which brought together approximately 13,000
participants.
Sport
Transylvania Open
The 2025 edition of the Transylvania Open solidified the tournament’s position on the WTA
250 circuit, continuing to attract international interest and keeping Cluj-Napoca on the
world tennis map.
The main draw also featured acclaimed Romanian players such as Ana Bogdan, Gabriela
Ruse, and Simona Halep, who made history by announcing her retirement at the end of the
tournament. The competition was won by Anastasia Potapova, who defeated Lucia
Bronzetti in the final.
Banca Transilvania continued its partnership with the Transylvania Open in 2025,
supporting the tournament’s development and visibility on the circuit. The continuation of
this partnership reflects BT’s commitment to promoting competitive sports and supporting
major international events organized in Romania.
U-Banca Transilvania Sports Club
The partnership between Banca Transilvania and U-BT Sports Club began in 2015 and has
expanded over time to include collaboration with the Romanian Basketball Federation and
support for the national team. U-BT is one of the most professionally organized structures
in Romanian basketball, active at all levels: junior teams, an academy, and a senior team. In
2025, U-BT had a strong season, once again emerging as the Romanian champion, drawing
a record crowd at BT Arena, and reaching the quarterfinals of the BKT EuroCup. The
greatest achievement of the 2024–2025 season was joining the ABA League, a competition
that brings together the most important teams in former Yugoslav basketball, with a
234
Sustainability Statement 2024, Banca Transilvania Financial Group
tradition spanning over two decades. Banca Transilvania maintains a close connection with
this club, in the spirit of promoting performance and supporting team sports.
Sports Festival
Sports Festival, now in its sixth edition in 2025, once again brought to Cluj-Napoca the
most comprehensive experience dedicated to mass sports and the community. The event
took place between June 12 and 15, 2025, in the traditional areas around Cluj Arena, Central
Park, and Iuliu Hațieganu Park. The program featured over 100 events and introductory
sessions in more than 25 sports, offering experiences for all ages and skill levels.
One of the highlights of the edition was the “Ronaldinho & Friends” exhibition match, a
unique show that brought Ronaldinho, Adriano, Robert Pirès, Marco Materazzi, Wesley
Sneijder, and other major names in world soccer onto the field, alongside Team Romania,
made up of former great Romanian players such as Adrian Mutu, Mirel Rădoi, and Răzvan
Raț. The exhibition match took place at the BT Arena and was one of the most anticipated
highlights of the festival.
Banca Transilvania continued to support the festival, reinforcing its role in promoting an
active and healthy lifestyle.
Romanian Football Federation
Banca Transilvania initiated its partnership with the Romanian Football Federation in 2021,
becoming the federation’s official bank and the main partner of the youth and junior teams.
Starting in 2023, the partnership expanded to include the senior national team, and by the
end of 2024, BT had also become the sponsor of the Women’s National Soccer Team. In
2025, BT supported the national team on its journey to the World Cup, and in June, the
organization of the Under-19 Final Tournament - UEFA EURO 2025.
Romanian Basketball Federation
As early as 2017, we began a strategic partnership to develop Romanian basketball at the
national level by supporting the Romanian Basketball Federation and the men’s teams.
Toward the end of 2025, we also became supporters of the women’s teams within the
federation and served as main sponsors for the organization of the National Women’s
Basketball League and the Women’s Basketball League 1. Also in 2025, we supported the
organization of mini-basketball and baby-basketball tournaments, thereby achieving a
360-degree integration into Romanian basketball.
Gheorghe Hagi Sports Club Academy
The Gheorghe Hagi Sports Club Academy is the largest soccer project in Romania, aimed
at training, preparing, and developing children and youth for performance at the national
and international levels. Currently, the academy hosts approximately 250 athletes,
organized into 13 age groups, ranging from 6 to 19 years old. In its first ten years of
235
Sustainability Statement 2024, Banca Transilvania Financial Group
operation, it has won 24 national junior titles and has consistently contributed to the
national teams, with an average of over 40 players per season. Banca Transilvania supports
this project in line with its commitment to athletic performance and the development of
younger generations.
In addition to the projects outlined above, Banca Transilvania has expanded its involvement
in sports through long-term partnerships and strategic initiatives with organizations and
clubs that contribute to the development of Romanian sports, supporting both elite and
recreational sports. In this context, the bank has been providing ongoing support to the
Romanian Olympic and Sports Committee since 2022 to assist athletes representing
Romania in international competitions, including the 2026 Winter Olympics and the 2028
Summer Olympics; it maintains a long-term partnership with FC Universitatea Cluj, a club
that is emblematic for the local community; and supports the Napoca Rally Academy,
contributing to athletic performance and the promotion of road safety education. At the
same time, the bank supports mass sports projects, such as the Apuseni Marathon, the Via
Transilvanica Marathon, and the Timișoara 21K.
Social Projects
The Blondie Association provides medical air transport for seriously ill children who cannot
be treated in the country and urgently need access to hospitals abroad.
Banca Transilvania is the strategic partner of the Blondie Association, supporting medical
air transport for seriously ill children through direct sponsorships, national campaigns, and
facilitating donations via BT Pay. The partnership directly contributes to saving lives and
ensuring equitable access to emergency medical treatment.
The Little People Association provides psychosocial support to children and adolescents
diagnosed with cancer, as well as to young survivors of the disease, maintaining a daily
presence in pediatric oncology wards across Romania and the Republic of Moldova. The
organization provides specialized psychological interventions and coordinates the
Temerarii Community, a network dedicated to young people who have overcome the
disease.
Banca Transilvania has been collaborating with the association since its early months of
operation, providing constant support through direct sponsorships, donation campaigns
via BT Pay, and dedicated POS terminals. One of the fully supported projects is “Sunt OK!”,
Romania’s first teletherapy and platform for children and young people affected by cancer,
through which 700 free therapy sessions have been provided to date for young people and
their families.
SOS Children’s Villages’ mission is to provide a family environment for children without
parental support and to prevent the separation of children from their biological families.
The organization provides family-based alternative care, supports vulnerable families to
236
Sustainability Statement 2024, Banca Transilvania Financial Group
prevent abandonment, and develops services in the areas of education, health, and social
integration.
Banca Transilvania supports the organization annually through direct financial aid, national
donation campaigns, education and social inclusion projects, as well as targeted
interventions in vulnerable communities. A strategic project is the Caravan of Good Deeds,
which aims to address specific local needs by improving living conditions, facilitating
access to medical services, setting up educational and play spaces, organizing camps and
non-formal education activities, as well as developing resource centers for children and
youth, such as the one in Avrig, funded by BT.
The Casa Bună Association has been working for over 15 years with children and
adolescents from extremely vulnerable backgrounds, particularly in Ferentari and Jilava, as
well as in the towns of Nucșoara and Lerești, Argeș County. Banca Transilvania is an active
and consistent partner of the organization, with support including both direct funding and
the involvement of the BT community.
The collaboration in 2025 included an internal campaign through which winter jackets and
boots were collected and donated for 600 children, as well as the distribution of mărțișoare
made by Casa Bună at BT branches in Cluj and Bucharest, thereby contributing to the
support of the educational and social activities carried out by the association.
Peditel – BT is the strategic partner of PEDITEL, the only free 24/7 pediatric assistance
service in Romania. Through this partnership, we support its operations via direct
donations, donation-matching campaigns, and integration into the BT Pay ecosystem. The
partnership contributes to equitable access to medical services for children and helps
reduce the strain on the public healthcare system.
Hope and Homes for Children is one of the organizations active in the field of child
protection, with a mission to close orphanage-style centers and offer every child the
chance to grow up in a family environment.
Banca Transilvania has a long-standing partnership with the organization, through annual
sponsorships, strategic education and inclusion projects, the integration of the foundation
into BT Pay, and the direct involvement of BT colleagues in activities such as financial
education sessions and workshops. One of the projects supported annually, starting in
2023, is the DAR Scholarships program, which supports vulnerable children and young
people with outstanding achievements in education, sports, and the arts. In the 2025–2026
edition, 35 scholarship recipients - high school and college students - were selected, each
receiving a scholarship of 2,000 euros, as well as access to personal development
activities, including mentoring, camps, and workshops.
Save the Children is one of the oldest and most respected organizations in Romania
dedicated to supporting children, with initiatives in areas such as health - through the
237
Sustainability Statement 2024, Banca Transilvania Financial Group
reduction of infant mortality - education, social protection, and the promotion of children’s
rights.
Banca Transilvania has a multi-year partnership with the organization, which began in 2020,
and includes recurring sponsorships, strategic projects in the fields of health and
education, as well as national campaigns.
Among the supported initiatives is the What’s Next project, a pilot program for vocational
guidance and career counseling aimed at students, parents, and teachers, which also
includes an interactive digital platform with self-awareness resources and tools for making
informed decisions regarding educational and professional paths. The bank also supports
the “We Support the Toughest Starts” project, carried out in partnership with Mastercard,
a three-year strategic program aimed at reducing infant mortality by equipping maternity
wards, training medical staff, and providing postnatal monitoring for at-risk newborns.
238
Sustainability Statement 2024, Banca Transilvania Financial Group
3.6 Cybersecurity and Personal Data Protection
External Context
Digital transformation in the financial sector is accelerating the need for a European
regulatory framework that ensures a high level of security and resilience.
In this context, Regulation (EU) 2022/2554 on digital operational resilience, known as DORA
and applicable as of January 17, 2025, becomes an important benchmark for all financial
institutions. DORA functions as a “lex specialis” in the field of cybersecurity and
incorporates requirements that were previously set out separately in various directives and
regulations, including the NIS 2 Directive (Network and Information Security Directive 2,
which aims to strengthen the overall level of cybersecurity in the EU).
The regulation is built on five pillars that define how the sector must manage digital risks:
ICT risk governance, incident reporting, operational resilience testing, supplier risk
management, and information sharing.
At the same time, the financial sector is influenced by the accelerating pace of the market.
The emergence of digital-native players, with fast, intuitive, and strongly customer-
experience-oriented solutions, is changing consumer expectations and raising standards
regarding the availability, security, and performance of digital services. These
developments are influencing not only the regulatory framework but also the way financial
institutions are rethinking their operational models, technological infrastructure, and
development strategy.
Thus, to actively adapt to the new digital reality, BT Group prioritizes technological
transformation and compliance with European regulations. These strategic priorities are
reflected in concrete projects and clear courses of action. One example is Salt Bank,
Romania’s first fully digital bank, an initiative that demonstrates the Group’s commitment to
innovation.
Internal Regulatory Framework
A significant part of the Group’s activity depends on the secure and efficient management
of large volumes of confidential information and sensitive data, as well as the processing
of a high number of complex transactions. The Group manages extensive data on its
customers, both individuals and legal entities, and is responsible for accurately reflecting
all operations related to their accounts. Thus, the secure and uninterrupted operation of
the entire IT infrastructure and communications networks is vital for business continuity.
At the same time, activities conducted with third parties, although governed by strict
contractual agreements, may also generate cyber and technological risks. The Group
operates a strictly controlled IT environment and limits external vendors’ access to its
systems. However, situations involving unauthorized access, data loss or destruction, or
239
Sustainability Statement 2024, Banca Transilvania Financial Group
other incidents that could affect operations may arise. Such risks, if they persist, could
impact the Group’s business, strategy, and financial performance.
In this context, cybersecurity is a critical area for protecting BT’s business, employees, and
customers. The Bank has developed a robust framework of information security standards,
applicable at the Group level, which includes a set of 29 policies defining the organizational
and technical requirements necessary to protect data and maintain a high level of
information security. These include the Information Security Policy, the Security Operations
Center Operating Procedure, the Security Incident Management Policy, and the Security
Incident Response Procedure. These documents are supplemented by an extensive set of
internal policies and standards, such as the General Policy on Payment Service Security,
the Standard on IT Security Regulations, the Information Access Control Policy, the User
Access Management Policy, the User Responsibilities Policy, and the Information
Classification Procedure. Together, they rigorously define the scope, objectives, guiding
principles, roles, and responsibilities of all parties involved, while ensuring compliance with
external requirements and applicable regulations regarding information security.
By implementing these measures, the Bank aims to effectively manage the risks associated
with cyber threats and prevent any incident that could compromise confidentiality,
integrity, or availability of data. At the same time, these measures help protect the
institution’s reputation and ensure operational continuity, strengthening the trust of
customers and partners in the services offered by BT.
Responsibilities for information security are assigned to a dedicated department reporting
to the CRO (Chief Risk Officer). The ICT & IT Security Risk Management Department is part
of the organization’s second line of defense and is responsible for managing and overseeing
ICT and cybersecurity risks, as well as implementing a control system to ensure the
operational performance and security of ICT systems. This system includes appropriate
controls for identifying, measuring, assessing, managing, monitoring, and reporting ICT
security risks.
The department is led by a Department Head and oversees the following units: the
Information Security Governance Service, the Cybersecurity Service, the Application
Security Service, and the IT Security Risk Oversight Service.
Objectives:
• Defining the information security management framework, based on the principles
defined in information security standards and industry best practices;
• Providing specialized support to the subsidiaries of BT Group to assist them in
developing their own information security policies;
• Identifying, monitoring, and defining measures to mitigate information security risks;
• Defining the information security strategy and measures for its implementation
within the organization;
240
Sustainability Statement 2024, Banca Transilvania Financial Group
• Providing the necessary support regarding procurements specific to information
security solutions.
Activities, duties, and responsibilities of the ICT & Sec IT Risk Management Department:
• Ensures and monitors compliance with the Bank’s internal policies and regulations;
• Provides support in the technical development and review of the risk management
framework, in accordance with standards and best practices (such as, but not
limited to, ISO 27001, ISO 27002);
• Develops and monitors the implementation of security risk logic for security
solutions under the responsibility of the first line of defense, and develops,
implements, and monitors risk logic for solutions managed by the department;
• Tests, monitors, and evaluates the implementation of risk management rules in
security solutions managed by the first and second lines of defense;
• Establishes and configures verification, detection, and alerting mechanisms within
the security solutions managed by the department, ensuring configuration
compliance and proper maintenance;
• Provides support for reporting key risk indicators (KRIs) and creating dashboards for
monitoring ICT & IT Security risks;
• Develops control logic based on evaluated alerts and reported incidents, including
for the technical and administrative configurations of the security solutions
managed by the department;
• Provides support in documenting and investigating critical information security
incidents, maintaining a record of incident management activities and requesting
additional information from the teams involved;
• Monitors violations of information security policies or external regulations and
proposes corrective measures, in collaboration with the relevant organizational
units, including for assessing the effectiveness of controls, identifying
vulnerabilities, and formulating risk mitigation strategies;
• Provides specialized expertise in the field of information security to ensure that the
Bank’s new projects and current activities comply with regulations and best
practices in the field;
• Coordinates the technical evaluation of security solutions managed by the
department;
• Manages projects within the department through a dedicated project manager (PM),
assigned in accordance with applicable Internal Rules of Procedure and procedures;
• For all of the above activities, teams within the department must have full access to
the verified systems, information, and processes.
241
Sustainability Statement 2024, Banca Transilvania Financial Group
In line with the Group-wide internal cybersecurity regulatory framework, Banca Transilvania
is ISO 27001 certified for its electronic archiving and software development processes. This
framework forms the foundation of a rigorous information security system, combining
technical processes, internal policies, and operational procedures into a coherent
cybersecurity risk management system.
By implementing ISO 27001, the Bank pursues three key objectives:
• protecting customer data and preventing information leaks;
• developing effective mechanisms for detecting and preventing cyberattacks;
• continuously monitoring and improving all processes related to IT security.
Cybersecurity Incidents and Measures to Manage Them
The Bank faces multiple Distributed Denial of Service (DDoS) attacks annually, but their
impact is minimized thanks to the effectiveness of the technical and non-technical controls
implemented to limit the effects and maintain operational continuity.
This level of protection is supported by a set of well-defined preventive and response
measures:
• the use of anti-DDoS solutions provided by a global partner with expertise.
• contracting managed monitoring and specialized mitigation services that provide
infrastructure-level protection.
These are complemented by the internal response capability of a Security Operations
Center team, responsible for 24/7 incident monitoring and management, intervening rapidly
through investigations and remediation measures, ensuring an appropriate response and
resolution time.
To assess security incidents, the Bank classifies the impact level based on the effects on
operations and customers. The impact is determined based on criteria such as the number
of affected users, the duration of the incident, and the geographic distribution of the
affected area.
Based on these elements, the impact can be classified into one of the following categories:
• Low impact: the incident has a limited effect on delivery service, without significant
disruption and without relevant consequences for a large number of users.
• Medium impact: the incident causes a disruptive effect on service delivery, affecting
a moderate number of users or a limited geographic area for a specific period of
time.
• High impact: The incident has a significant disruptive effect on service delivery,
affecting a large number of users, a wide geographic area, or causing prolonged
service interruptions.
242
Sustainability Statement 2024, Banca Transilvania Financial Group
As part of cyber security risk management, the Bank considers the potential occurrence of
DDoS attacks with varying levels of impact. Such events are addressed through dedicated
root cause analysis processes and remediation of identified vulnerabilities, in line with
internal post incident analysis procedures. As a result of these analyses, DDoS mitigation
policies are periodically reviewed and updated, and monitoring and response mechanisms
for protection systems are strengthened, with the aim of reducing the potential impact on
operations.
Key Risk Indicators
Key Risk Indicators (KRIs) are a set of metrics used for continuous monitoring of exposure
to risks generated by cyber threats, technological vulnerabilities, or IT&C system
malfunctions.
These indicators serve as early warnings and enable the identification of trends or signals
that may indicate a deterioration in cybersecurity, before they lead to major incidents with
operational, financial, or reputational impact.
The indicators are used for periodic monitoring and contextual analysis, but they do not
automatically trigger corrective measures, rather, they require further evaluation by the risk
function or the responsible units.
These may include indicators mandated by regulations or international best practices in the
field of information security.
Key risk indicators contribute to:
• early identification of increased exposure to cyberattacks;
• monitoring the vulnerability level of the IT infrastructure;
• assessing the effectiveness of implemented controls;
• supporting the decision-making process regarding the need for additional
protective measures.
243
Sustainability Statement 2024, Banca Transilvania Financial Group
Examples of KRIs used to monitor cybersecurity risks
Indicator
Definition
2025
Number of critical
cybersecurity
incidents identified
The number of critical cybersecurity incidents
identified in the bank’s IT systems that affected or
could have affected the confidentiality, integrity, or
availability of information during the reporting period.
4
Number of confirmed
connections
Number of confirmed connections to Command &
Control servers.
0
Confirmed
ransomware incidents
Confirmed ransomware incidents.
0
Number of Malicious
IPs/Domains Blocked
by SOC
Number of malicious IPs or domains blocked
following internal analyses by the BT SOC.
0
Number of confirmed
RCE alerts
Number of confirmed alerts regarding Remote
Command Execution incidents.
0
Number of confirmed
Lateral Movement
alerts
Number of confirmed alerts regarding Lateral
Movement activities.
0
Percentage of
systems evaluated for
vulnerability and
security testing
The proportion of systems subjected to IT security
testing activities during the reporting period,
including vulnerability testing, penetration testing,
and other relevant security assessment activities.
100%
Communication with customers
In addition to the framework of policies, procedures, and responsibilities defined in the area
of cybersecurity, as well as the indicators used to monitor and assess digital risks, the
Group pays constant attention to how technology is integrated into customer relationships
and internal processes. Security is not treated exclusively from the perspective of
infrastructure protection, but also as an integral part of how digital interactions, operational
workflows, and fraud prevention mechanisms are designed.
In this context, communication with customers and the use of artificial intelligence-based
solutions represent an important component of the digitalization strategy, contributing
both to operational efficiency and to increased levels of control and transparency.
Starting in 2023, BT has been using artificial intelligence solutions developed in
collaboration with Microsoft and integrated into the Întreb BT platform. The platform
provides quick access to over 2,000 questions and answers about banking products and
244
Sustainability Statement 2024, Banca Transilvania Financial Group
services via the Microsoft Azure OpenAI Service. The bank also uses AI assistants to
support and streamline the work of business analysts.
Modernizing customer communication channels and integrating AI-based solutions not
only contribute to faster and more efficient interactions but also support the bank’s internal
processes. These technologies create a more secure and better-controlled operational
ecosystem, where information is managed consistently, and analysis and decision-making
activities are based on structured and verifiable data. Thus, the digitization of
communication naturally complements the automation of internal workflows, including in
the loan approval process, where traceability and control at every stage are essential.
The credit approval process follows a well-defined workflow based on the customer
category, implemented directly through the Bank’s IT systems. These automated
mechanisms ensure traceability and create conditions for controlling each stage, reducing
the risk of errors or abuse. Thus, the risks of fraud by the person conducting the analysis
are significantly limited, as controls are built directly into the IT workflow, ensuring the
separation of duties and the traceability of decisions.
Initiatives for Digital Education & Online Fraud Prevention
As a result of lessons learned from managed incidents, the Bank has implemented
additional measures to increase security, including defining and applying a security
baseline for all systems, resetting compromised credentials, and adopting stricter
standards regarding password complexity and management. These measures reduce the
risk of similar situations recurring and contribute to increasing cyber resilience.
At the same time, to support training efforts and foster a corporate culture focused on
digital security, the bank supplements formal training programs with dedicated awareness
initiatives designed to help employees quickly identify risks and respond appropriately in
potentially vulnerable situations.
In the first half of 2025, the Bank stepped up its efforts to raise awareness of cyber risks
by launching a comprehensive digital education campaign aimed at customers and the
public. The communication was distributed across all internal and external channels used
by the Bank: social media, dedicated newsletters, website articles, as well as partner
publications, with the primary objective of increasing vigilance against online fraud
attempts.
A new element introduced into the prevention strategy was the online security quiz,
designed for both employees and customers, based on all known types of phishing attacks.
The tool was structured as multiple-choice questions with two options, only one of which
was correct. To ensure that the educational messages are understood correctly, each
answer was accompanied by an explanatory pop-up detailing the scenario, warning signs,
and recommended actions in similar situations. With questions inspired by real-life
245
Sustainability Statement 2024, Banca Transilvania Financial Group
scenarios, clear explanations, and an interactive learning mechanism, the quiz was
completed by over 200,000 people in just the first few months.
From mid-2025 to the present, the Bank’s efforts to inform and prevent online fraud have
continued consistently across all our communication platforms. The messages have been
updated based on newly identified attack patterns, helping to strengthen the culture of
digital security among BT customers.
These internal and external communication initiatives were complemented by campaigns
such as “Stai un pic înainte de clik – De ce sa pierzi banii câștigați cu greu?” which reinforces
cyber vigilance and transforms prevention into both an individual and collective
responsibility.
„Stai un pic înainte de click - De ce să pierzi ușor banii câștigați cu greu?”
Banca Transilvania’s initiative dedicated to online safety began in July 2023, at a time when
digital fraud attempts were becoming increasingly sophisticated. Under the name “Stai un
pic înainte de click (Stop for a moment before you click),” the project started with a simple
yet essential idea: to give people the tools they need to critically evaluate online information
and distinguish between legitimate and fraudulent content. The first messages quickly
gained traction, and in just a few months, the campaign became a benchmark in digital
education, supported by social media, dedicated articles, and direct communications to
customers.
In 2024, the project continued by expanding its outreach through a series of materials
created in collaboration with content creators and public figures, making the topic of online
safety accessible to a broad audience. The theme was also integrated into the financial
education project FIT: Finance for Everyone, where a special episode was dedicated
exclusively to online safety.
In 2025, the Bank introduced a new creative approach under the message “De ce să pierzi
ușor banii câștigați cu greu?”, which repositioned the communication in a more personal
and individual responsibility-oriented direction, emphasizing the importance of protecting
one’s own income. The campaign had one of the highest levels of impact in the project’s
history, reaching millions of users and generating a level of engagement that exceeded
estimates.
Today, “Stai un pic înainte sa dai un clik” is one of BT’s most visible and consistent consumer
protection programs. From the first visuals in 2023 to the complex campaigns of 2025–
2026, the project has evolved into a comprehensive and continuous, e effort focused on
education, transparency, and responsibility, key elements in the sustainability of modern
financial services.
246
Sustainability Statement 2024, Banca Transilvania Financial Group
Impact Metrics
• 280,000 people have taken BT’s online safety quizzes.
• 200,000+ participants in the first 4 months of the year alone; 60 winners in the initial
campaign.
• 45,000+ reactions in Q1 2025 vs. 70,000+ reactions to BT posts on online safety
(June–Oct 2025).
• 500,000+ customers informed via newsletters dedicated to fraud.
• 400,000+ customers/month reached through summary newsletters.
• 135,000+ views in the 9-episode YouTube series featuring educational content.
• 10+ national media outlets amplified BT’s messages on fraud prevention.
• ~2 million views of social media posts between June and October.
• 1.5 million+ estimated views for the final edition of the “Think Before You Click”
campaign.
• 40 million views generated through TikTok content (8 videos).
Cybersecurity Training
In 2025, the Bank continues to strengthen its cybersecurity culture by organizing regular
training sessions for employees. These programs also include training on cyber vigilance,
phishing, and incident management, continuing the training trajectory previously
demonstrated by the over 34,471 hours of information security training completed by
employees across the Group.
Personal Data Protection
To ensure a unified approach to information security, technical and operational
cybersecurity measures are complemented by a robust data protection compliance
framework, as any IT incident has direct implications for the obligations set forth in the
General Data Protection Regulation (EU) 2016/679. The financial services sector has
become increasingly digitized, automated, and dependent on the internet, which has
amplified the Group’s exposure to risks of unauthorized or accidental data disclosure
through cyberattacks or IT system failures. Issues such as system errors, computer viruses,
data misuse - whether intentional or accidental - hacker attacks, or unauthorized access
to the bank’s infrastructure can affect the institution’s ability to protect customer data in
accordance with legal requirements.
Such situations may compromise the confidentiality of information and lead to disruption
of the services provided. In certain cases, they may also result in significant penalties or
other legal and reputational consequences.
247
Sustainability Statement 2024, Banca Transilvania Financial Group
To ensure strict compliance with GDPR regulations, the entities of the BT Group have
adopted a set of policies, procedures, and internal measures, structured around key areas:
• General Rules on the Processing and Protection of Personal Data – These rules
establish the general framework for the lawful, fair, and transparent processing of
personal data across all BT Group entities, ensuring respect for the rights of data
subjects and the implementation of appropriate security measures.
• Procedures for managing personal data breaches – These procedures define the
steps necessary to identify, report, remedy, and, where applicable, notify in
accordance with legal provisions, security breaches that result, accidentally or
unlawfully, in the destruction, loss, alteration, or unauthorized disclosure of
processed personal data or unauthorized access thereto.
• Procedures for ongoing employee training – All employees of BT Group entities
participate in regular training programs on the protection and processing of personal
data. These sessions ensure that employees’ knowledge of GDPR requirements,
best practices, and individual responsibilities in managing personal data is
continuously updated, to ensure compliance with legal requirements in day-to-day
operations.
• Strict data privacy rules – Group employees are required to respect the
confidentiality of personal data, including financial data protected by banking
secrecy. These rules impose clear restrictions on access to and use of such data to
prevent unjustified use and unauthorized disclosure.
• Regulations regarding the rights of data subjects – Individuals whose data is
processed by BT or other entities within the BT Group enjoy all the rights provided
by the GDPR, including the right of access, rectification, erasure, restriction of
processing, objection, data portability, the right not to be subject to decisions based
solely on automated processing, as well as the right to withdraw consent when it
constitutes the basis for processing. Internal procedures establish how these
requests are handled, ensuring they are resolved within the legal timeframes. In
accordance with the principle of transparency, the Bank and BT Group entities
provide data subjects with clear information notices regarding the purposes and
legal bases of processing, the recipients of the data, the retention period, the
contact details of the data protection officer, and the rights guaranteed.
• Rules regarding data processing in direct marketing activities – Any activity
involving the processing of personal data for advertising purposes (direct marketing)
carried out by BT or the group entities complies with GDPR rules, is conducted based
on strict processes, grounded in the freely given consent of data subjects for data
processing, with clear options provided for withdrawing this consent.
• Procedures for managing the processing and protection of personal data in
relation to contractual partners – BT Group entities have implemented clear rules
defining responsibilities regarding the protection of personal data in their
248
Sustainability Statement 2024, Banca Transilvania Financial Group
collaborations with contractual partners. When processing personal data on behalf
of and under the instructions of BT Group entities, partners have strict contractual
obligations regarding the purpose and scope of processing, data security, and
support provided to the controller. In situations where partners determine the means
and purposes of processing jointly with BT Group entities, the responsibilities of
each party are clearly defined to ensure a uniform and high level of protection for
data subjects.
Each entity of the BT Group has developed a public policy regarding the processing and
protection of personal data (privacy policy), available to the public via the website of each
entity within the BT Group. Through this privacy policy, each entity informs data subjects
about matters related to the processing of their personal data, in accordance with the
provisions of Articles 13–14 of the General Data Protection Regulation (GDPR).
Regulations on the record-keeping of personal data processing activities
BT and the Group entities maintain detailed records of personal data processing activities
to ensure compliance with the reporting obligations imposed by the GDPR. By implementing
this regulatory framework, the Group reaffirms its commitment to complying with the
requirements of the Regulation, both regarding the lawful processing of personal data and
ensuring a high level of personal data security.
Responsibility for the protection of personal data
At the Group level, dedicated individuals have been appointed to serve as Data Protection
Officers (DPOs), ensuring compliance with specific regulations and the protection of data
subjects’ rights. To facilitate transparency and accessibility, the DPO’s contact details are
publicly available, allowing consumers and users to effectively exercise their rights
regarding the processing of personal data.
The Data Protection Officer designated for Banca Transilvania can be contacted at the
dedicated email address dpo@btrl.ro, publicly available on the Bank’s website within the
BT Privacy Policy. The complaint channels made available to customers for each subsidiary,
including complaints regarding personal data breaches, are detailed in Section 3.2.
Customers and users of BT Group products and services.
249
Sustainability Statement 2024, Banca Transilvania Financial Group
Complaints received through reporting channels
In 2025, Banca Transilvania received a total of 11,781 requests regarding the processing
and protection of personal data, of which 3,933 were resolved in favor of the data subjects.
The breakdown of GDPR requests received by Banca Transilvania between 2022 and 2025
that were resolved in favor of customers/data subjects is provided below.
2025
2024
2023
2022
Total number of requests/complaints
regarding the processing and
protection of personal data (GDPR
requests) that were resolved in favor
of the client/data subject*
3,933
4,539
3,248
3,116
GDPR requests received through the
Center for Alternative Dispute
Resolution in Banking (CSALB)
214
of which 166 were
resolved in favor of the
customer
132 of which 64 were
resolved in favor of the
customer
136 of which 72 were
resolved in favor of the
customer
75 of which 66 were
resolved in favor of the
customer
GDPR requests received through
ANPC
29, of which 9 were
resolved in favor of the
client
15, of which 7 were
resolved in favor of the
customer
15 (of which 6 were
resolved in favor of the
client)
10 (of which 9 were
resolved in favor of the
customer)
GDPR requests received through the
NBR
3, of which 1 was
resolved in favor of the
client
1, of which 0 were
resolved in the client’s
favor
1
2 (of which 1 resolved
in favor of the client)
Reports/complaints regarding
unauthorized access to or disclosure
of personal data/confidential
information
71 of which 3 were
resolved in favor of the
customer
2
1
2
Investigation requests** received from
ANSPDCP***
6
2 (following the
submission by Banca
Transilvania of 2
notifications of
personal data
breaches)
1
3
*The number of requests to exercise rights under the General Data Protection Regulation (GDPR requests) resolved in favor
of data subjects (including requests to exercise rights regarding data processed in the Credit Bureau’s records). Some of the
cases recorded in internal systems as “resolved in favor of the customer” represent situations in which, although the Bank
did not consider the claims to be valid, an attempt was made to offer a solution to the customer.
**Investigation requests are requests for information sent to Banca Transilvania (BT) by this authority, as applicable, following:
BT’s submission of notifications of personal data breaches pursuant to Article 33 of the GDPR or, as applicable, following the
Authority’s receipt of complaints from data subjects alleging non-compliant processing or protection of their data by BT or
other entities of the BT Financial Group.
***ANSPDCP: National Supervisory Authority for Personal Data Processing.
**** A resolution in favor of the customer does not necessarily imply an error on the part of the Bank.
250
Sustainability Statement 2024, Banca Transilvania Financial Group
Regarding other entities of the BT Financial Group, the situation regarding complaints
resolved in favor of customers/data subjects concerning the exercise of rights guaranteed
by legislation on the processing and protection of personal data is as follows:
2025
2024
BT Direct
750 of the recorded requests
were resolved in favor of the
data subject
1,032 of the registered requests
were resolved in favor of the
data subject
BT Mic
22 of the requests filed were
resolved in favor of the data
subject
6 of the requests filed were
resolved in favor of the data
subject
BTAM
only one of the requests filed
was resolved in favor of the data
subject
None of the requests filed were
resolved in favor of the data
subject
BTCP
9 of the requests filed were
resolved in favor of the data
subject
9 of the registered requests
were resolved in favor of the
data subject
Salt Bank
19 of the requests filed were
resolved in favor of the data
subject
57 of the requests filed were
resolved in favor of the data
subject
Victoriabank
27 of the requests filed were
resolved in favor of the data
subject
4 of the requests filed were
resolved in favor of the data
subject
BT Leasing IFN
8 of the registered requests
were resolved in favor of the
data subject
None of the registered requests
were resolved in favor of the
data subject
BT Pensii
5 of the requests filed were
resolved in favor of the data
subject
Only one of the registered
requests was resolved in favor
of the data subject
BT Leasing Moldova
No requests of this type were
received
No requests of this type were
received
BT Broker
No requests of this type were
received
None of the registered requests
were resolved in favor of the
data subject
251
Sustainability Statement 2024, Banca Transilvania Financial Group
Improvement Credit
Collection
No requests of this type have
been received
No requests of this type have
been received
In 2025, 9 personal data breaches/thefts were identified across the entities of the BT
Financial Group that posed risks to data subjects (4 breaches in 2024). These were
managed and reported to the competent supervisory authority.
Internal communications regarding mandatory data protection training
Throughout 2025, the bank conducted a series of internal communications aimed at
strengthening the organizational culture regarding the protection of personal data and
compliance with GDPR requirements. The process began in late June with the launch of the
mandatory module “Prevention and Management of Data Breaches 2025,” which
emphasizes the importance of continuous training and incorporates the ANSPDCP’s
recommendations regarding the increased frequency of training programs. To maintain the
training pace and prevent potential delays, in September employees received an official
notice regarding mandatory GDPR training. December 2025 concluded with a strategic
communication aimed at reinforcing a culture of responsibility in the areas of security and
compliance.
⁙ ⁙ ⁙
If the courses are not completed by the set deadline, the Bank has implemented a
measure to block access to work systems until compliance is achieved.
Future Actions
In the coming period, the Bank will continue to strengthen organizational discipline in the
area of data protection by conducting mandatory training programs for all employees of
the BT Group, ensuring a uniform understanding of GDPR requirements and individual
responsibilities.
In addition, the Chief Risk Officer will provide periodic updates on the risks associated with
the processing of personal data, trends identified in incidents, and best practices for
prevention, thereby contributing to maintaining a high level of compliance and
strengthening the data protection culture throughout the organization.
252
Sustainability Statement 2024, Banca Transilvania Financial Group
Training
Minimum 95%: Completion rate for data protection training.
Deadline: Annual.
The target completion rate for data protection training, set at 95%, applies to entities in
Romania, where GDPR requirements mandate formalized and periodic training. In 2025, the
completion rate in Romania was over 99%, exceeding the set target.
In the Republic of Moldova, the subsidiaries’ operations are conducted in accordance with
local data protection legislation. Training programs are organized in a manner proportionate
to the level of risk, targeting roles involving the processing of personal data or relevant
operational responsibilities, to ensure an adequate level of compliance.
253
Sustainability Statement 2024, Banca Transilvania Financial Group
4. Governance Information
DR G1-1 – Business conduct policies and corporate culture
Banca Transilvania’s corporate governance framework clearly defines the roles and
responsibilities of its administrative, management, and supervisory bodies, with the
primary objective of ensuring ethical business conduct and effective oversight. The Bank’s
strategic management is exercised by the General Meeting of Shareholders, which is
responsible for setting strategic organizational objectives and allocating the necessary
resources to achieve them. The powers of the Ordinary and Extraordinary General Meetings
are governed by applicable laws and the Bank’s Articles of Incorporation.
From an organizational standpoint, the Bank is structured into two main components: the
management structure, consisting of the Board of Directors and the Leaders’ Committee,
and the operational structure, which includes the headquarters and the regional network
of branches. The Board of Directors plays an essential role in overseeing the Bank’s
activities and ensuring strategic direction, while the Executive Committee is responsible for
operational management, implementing the established strategy and managing day-to-day
operations. To optimize performance, the Board of Directors has established specialized
committees, such as the Audit Committee, the Compensation Committee, the Nomination
Committee, and the Risk Management Committee, which contribute to good governance
and effective risk management. The members of the Leaders’ Committee, namely the CEO
and Deputy CEOs, coordinate various areas of activity, promoting an organizational culture
based on integrity and accountability.
Ethics and business responsibility are fundamental principles that guide the Bank’s
interactions with stakeholders and society at large. Adherence to ethical standards involves
making decisions based on integrity, fairness, and transparency in all business practices,
while also recognizing the impact of activities on employees, customers, suppliers, and the
community.
The BT Financial Group has developed and implemented clear policies and procedures
governing business conduct. The Board of Directors is responsible for approving and
implementing the Code of Ethics and Conduct at the Group level, ensuring that the values
and principles adopted by employees and management are upheld. This Code is aligned
with the ethical and professional standards promoted in the financial and banking sector,
in accordance with the guidelines and codes developed by the professional associations
of which BT Financial Group is a member.
The Code of Ethics and Conduct govern essential aspects of business conduct, including
relationships with suppliers, political activities, avoidance of conflicts of interest, fair
competition, human resources policy, and the conduct of employees and members of the
management and e bodies. All employees and members of management bodies are
254
Sustainability Statement 2024, Banca Transilvania Financial Group
required to know and comply with the provisions of the Code, and any violation will result
in disciplinary action. This document does not replace the Internal Rules of Procedure (ROI)
or the Organization and Administration Regulations (ROA), which govern operations,
organization, employee and management responsibilities, corporate culture, and, finally,
compliance with legal and ethical standards.
Compliance with integrity standards and the management of risks associated with non-
compliant behavior are monitored by the Internal Audit Department and the Compliance
Department. These departments conduct periodic audits and ensure that internal policies
comply with external regulations, thereby contributing to the maintenance of an ethical and
responsible work environment.
At the BT Financial Group level, the fight against bribery and corruption is governed by the
ABC Commitment, also available on the Bank’s website, which establishes reporting
channels and procedures for reporting irregularities. The internal compliance framework
includes the Code of Ethics and Conduct, the Whistleblowing Policy, the Policy on the
Prevention and Management of Conflicts of Interest, the Public Procurement Policy, and
specialized due diligence platforms used for third-party reputation screening. All
employees and members of management are regularly informed and trained on these
policies and are notified of any relevant legislative changes.
Within the BT Group, it is strictly prohibited to offer, accept, or solicit improper benefits in
any form, regardless of whether they originate from the public or private sector. The
following are expressly prohibited:
• Receiving money or benefits from customers or third parties in connection with the
performance of job duties.
• Making payments or providing benefits that violate the law or Internal Rules of
Procedure.
• Offering incentives to obtain business advantages.
Business conduct is subject to dual oversight at the subsidiary level. The General
Shareholders’ Meeting sets out the strategic direction, and the subsidiary management,
composed of experts with relevant expertise, ensures the implementation and rigorous
oversight of these principles within the operational framework.
The expertise of the administrative, management, and supervisory bodies regarding
professional conduct.
The members of Banca Transilvania’s Board of Directors have extensive experience in the
banking sector, risk management, compliance, capital markets, and financial strategy
development. Their qualifications and professional backgrounds, available on the Bank’s
website, align with the requirements of the Policy on the Assessment of the Suitability of
Management Body Members at the Group level. With international careers and ongoing
255
Sustainability Statement 2024, Banca Transilvania Financial Group
training, they ensure effective governance, adapting to the dynamics of the financial
market.
Similarly, the members of the Leaders’ Committee possess expertise in areas relevant to
banking such as financial management, audit, SME financing, retail banking, risk,
compliance, and IT. Their educational backgrounds span fields such as economics, finance,
accounting, law, marketing, and engineering, contributing to well-grounded leadership.
In 2025, members of BT’s Leaders’ Committee participated in 226 individual training
sessions in essential areas such as anti-fraud, GDPR, compliance, sustainability, and
leadership. Members of the management bodies of the Group’s subsidiaries accumulated,
in 2025 alone, over 540 hours of training in these key areas. Their expertise and conduct
directly contribute to ensuring robust governance within the BT Financial Group, and the
level of expertise varies among subsidiaries, depending on the specific characteristics of
each market.
Policies in place to manage the material impact, risks, and opportunities related to
business conduct and corporate culture
To manage the material impact, risks, and opportunities related to business conduct and
corporate culture, Banca Transilvania and the BT Financial Group have implemented a
robust framework of internal policies, which include:
1. Code of Ethics and Conduct – establishes the fundamental principles of integrity,
responsibility, and transparency applicable to all employees and members of
management.
2. Policy on the Assessment of the Suitability of Management Board Members –
establishes the criteria for selecting and evaluating the professional competence,
integrity, and ethical conduct of management board members within the Bank and
its subsidiaries.
3. Anti-Bribery and Anti-Corruption Commitment – defines measures to prevent
bribery, corruption, and conflicts of interest.
4. Whistleblower Policy – ensures a secure and confidential mechanism for reporting
violations of ethical and compliance standards.
5. Conflict of Interest Prevention and Management Policy – sets forth measures to
identify and eliminate conflicts of interest in the Bank’s activities.
6. Public Procurement Policy – regulates supplier selection processes to ensure
transparency and compliance with ethical standards.
7. Sustainability Policy – integrates ESG (environmental, social, governance) criteria
into the organizational strategy and culture.
8. Data Protection and Privacy Policy – establishes rules for protecting the personal
data of customers and employees.
9. Information Security Policy – focuses on protecting IT infrastructure and preventing
cyber risks.
256
Sustainability Statement 2024, Banca Transilvania Financial Group
10. Internal Rules of Procedure and Organization and Administration Regulations – detail
the rules of conduct, responsibilities, and expectations regarding organizational
culture.
These policies are updated periodically and apply to Group entities, being communicated
via the Bank’s intranet to ensure compliance with ethical standards and a strong corporate
culture. The implementation of these regulations through the Group relations policy and the
risk management framework at the subsidiary level ensures a robust operational
framework, delivering optimal results for customers, shareholders, and the business
environment.
Establishing, Developing, Promoting, and Evaluating Corporate Culture
Corporate culture is anchored in the policy framework outlined above, which sets standards
for integrity, professional ethics, social responsibility, and transparency. These policies and
commitments are updated periodically to reflect both regulatory requirements and changes
in the economic and social environment, as well as the evolution of the Bank and BT Group
at various stages of their development.
The Board of Directors and senior management play a key role in developing and promoting
the corporate culture by assessing how core values are implemented and upheld at all
levels of the company. To ensure these principles are understood and embraced, regular
training programs and sessions are organized at the Group level on topics such as
compliance, sustainability, responsible leadership, and GDPR. These programs are
accessible to all employees and are designed to reinforce organizational principles in day-
to-day operations. Corporate culture is also promoted through various internal
communication channels, including digital platforms, newsletters, regular meetings, and
feedback sessions, which allow employees to stay informed about the company’s initiatives
and actively engage in its development.
To ensure continuous assessment of corporate culture, the Bank uses performance
indicators. A key element is the collection of feedback through periodic surveys such as
eNPS, which measure employee satisfaction and engagement levels. In addition, a series
of relevant KPIs are monitored, such as the participation rate in training programs, the
number of ethics reports, and employee retention rates. Periodic assessments conducted
by the Board of Directors and management teams contribute to analyzing the state of the
organizational culture, identifying areas for improvement, and adjusting strategies based
on identified needs.
Mechanisms for reporting and investigating concerns regarding illegal conduct or
conduct that violates the code of conduct or internal policies
To ensure a coherent framework for preventing, identifying, and managing incidents with a
potential impact on compliance, business ethics, and operational security, the company
257
Sustainability Statement 2024, Banca Transilvania Financial Group
has established a series of formal reporting channels. These allow employees, collaborators
and other relevant parties to report, in a confidential and, where appropriate, anonymous
manner, situations such as violations of applicable laws, deviations from internal policies,
suspicions of fraud, corruption, cybersecurity incidents, or other events with a negative
impact.
To report irregularities, the Group makes the Whistlelink channel available to all
stakeholders through a third party, which guarantees the confidentiality and protection of
those who report issues. Whistlelink is a confidential reporting channel available to both
business partners and BT Group employees for reporting potential fraud, violations of the
Code of Ethics and Conduct, the Internal Rules of Procedure, or Internal Rules of Procedure
specific to subsidiaries, as well as violations of the law (money laundering, bribery, etc.).
Through this application, reports can be submitted regarding legitimate and substantial
concerns related to aspects of the business management framework, and all cases are
reviewed by a specialized team, with each report receiving a unique code for tracking
resolution. Reports are investigated by the appropriate departments, including the Bank’s
executive management. A face-to-face meeting can also be requested through the
application.
During the meeting, the designated representative from the Corporate Governance and
Non-Credit Legal Division, responsible for receiving the report, is required to prepare
minutes documenting the information presented, in a durable and accessible format,
subject to the consent of the person making the report. The reporting person will be given
the opportunity to review and request corrections to the content of the minutes, as well as
to express their agreement with them by signing. The procedure ensures compliance with
the principles of confidentiality and the protection of the identity of persons submitting
reports.
Throughout the reporting procedure, as well as after its resolution, any form of retaliation
against the reporting person is strictly prohibited, in accordance with the provisions of Law
No. 361/2022.
Specifically, reports concerning the subsidiaries BT Asset Management SAI and BT Capital
Partners are redirected to their own reporting channels, namely MyAlertBTAM@btam.ro
and myalert@btcapitalpartners.ro, to be handled in accordance with their own Internal
Rules of Procedure.
In addition to the aforementioned channels, shareholders and investors may also submit
reports, complaints, and grievances via email at investor.relations@bancatransilvania.ro.
For other categories of stakeholders, reports and complaints may also be submitted
through the BT call center.
In addition, for reports concerning ESG issues, the Group provides stakeholders with the
email address: sesizariesg@btrl.ro.
258
Sustainability Statement 2024, Banca Transilvania Financial Group
Investigation of Incidents Related to Business Conduct
To ensure the prompt and fair investigation of incidents of misconduct, including corruption
and the giving or receiving of bribes, the Bank implements a clear and rigorous procedural
framework aligned with applicable legislation, including the provisions of Directive (EU)
2019/1937. This framework includes the following essential measures:
• Secure and confidential reporting mechanisms – The Bank provides secure
channels for reporting incidents, protecting the identity of whistleblowers and
preventing any form of retaliation.
• Rapid Initial Assessment – Reports are reviewed immediately to determine the
severity and necessary actions, ensuring a prompt response.
• Adherence to clear procedures and specific deadlines – Investigations are
conducted according to well-defined methodologies, within a reasonable
timeframe, to ensure the efficiency and fairness of the process. The person making
the report receives confirmation of receipt within 7 calendar days at the latest, and
feedback on the progress of the case and any measures taken is provided within a
reasonable timeframe, not exceeding 3 months from the confirmation (or from the
expiration of the 7-day period). In the case of in-person meetings, within no more
than 7 days of the request, the person will be informed of the proposed date and
location for the reporting session. Reporting via an in-person meeting will take place
within no more than 15 days of the date the request was submitted through the
reporting channels.
• Collection and analysis of relevant evidence – All available data and documents are
analyzed, including statements, records, and other evidence necessary for a proper
assessment.
• Transparency and communication – The parties involved are notified of the
progress of the investigation, while maintaining the necessary confidentiality.
• Adoption of corrective and disciplinary measures – Depending on the
investigation’s findings, the Bank applies appropriate measures.
• Monitoring and continuous improvement – Investigation procedures are
periodically reviewed to identify and correct any deficiencies, thereby ensuring an
efficient process that complies with applicable regulations.
Additionally, subsidiaries operating under the authorization, regulation, and/or supervision
of the ASF and providing non-banking financial services to individuals or legal entities
acting as consumers have implemented a procedure for receiving and resolving complaints,
in accordance with the applicable legal framework.
The Legal, Digitalization, and Payment Services Department is responsible for analyzing
and reporting all recorded warnings and investigated incidents at the BT Group level, as
follows:
259
Sustainability Statement 2024, Banca Transilvania Financial Group
• Annually, in the first quarter of the following year to the Board responsible for
analyzing and approving the report and, if necessary, ordering the adoption of
measures at the BT Group level.
• Quarterly, to the Leaders’ Committee.
• Whenever necessary, to the Leaders’ Committee, in cases where alerts are
significant and incidents are reported that could seriously affect the Group’s
reputation;
• Whenever necessary, to the National Bank of Romania – Supervision Directorate, in
the event of legitimate and substantial concerns that could affect the Bank’s safety,
soundness, and reputation.
Training Policy on Business Conduct
The management of the subsidiaries participates annually in professional training and
development programs tailored to their field of activity and position, with an emphasis on
avoiding conflicts of interest, preventing fraud, and AML and KYC policies. The activities of
key functions, such as compliance, risk management, internal control, and audit, are
governed by rules and regulations issued by supervisory authorities, such as ASF, BNR, or
BNM, requiring the maintenance of a high level of training through periodic programs.
Within Banca Transilvania, the BT Academy offers mandatory and optional courses on
business ethics, managed by the HR Department, which oversees the functional structure
and professional development of employees. Furthermore, in accordance with the selection
and succession planning policy, the Bank implements an annual plan to identify and train
future leaders, ensuring the continuous development of 1–3 successors for each key role
through career management, specialized training, and involvement in strategic projects.
As for the subsidiaries, their staff and management participate at least annually in
professional training and development programs, in accordance with their areas of
expertise and fields of activity.
At the same time, training programs dedicated to business ethics and professional conduct
contribute to strengthening the organizational culture and aligning employee behavior with
applicable standards. By including relevant topics such as managing conflicts of interest,
risks associated with certain activities, and compliance requirements regarding anti-money
laundering, these trainings support the prevention and effective management of
operational and reputational risks, reinforcing the Group’s commitment to integrity and
professional responsibility.
260
Sustainability Statement 2024, Banca Transilvania Financial Group
DR G1-3 – Prevention and detection of corruption and bribery
Policies and procedures established for the prevention, detection, and resolution of
allegations or incidents of corruption or bribery
BT Group has a regulatory framework for preventing, detecting, and resolving incidents of
corruption and bribery, based on a zero-tolerance policy toward such acts. The primary
reference document is BT Group’s Code of Conduct and Ethics, which establishes general
guidelines in this area, in accordance with national and European regulations.
The internal policy on fraud risk management clearly defines corruption as any form of
abuse of power exercised for the purpose of obtaining personal or Group benefits,
manifested through the offering, promise, solicitation, or receipt of undue benefits, directly
or indirectly. The Group acknowledges that the line between unethical behavior, corruption,
and fraud is sometimes not well understood, as these behaviors are interdependent, and
tolerating unethical practices can increase the risk of corruption and, consequently, give
rise to fraud risks.
In this context, the internal governance framework and anti-corruption policies establish
clear rules for preventing, identifying, and sanctioning acts of corruption, applicable to all
employees and individuals acting on behalf of the Group. Internal policies and procedures
underpin the application of the zero-tolerance principle toward corruption and support an
organizational culture based on ethics, integrity, and accountability.
The procedure for conducting investigations at the BT Group level defines a uniform
standard within the Bank regarding the reporting, investigation, and inquiry of fraud-related
events and outlines the tasks and responsibilities of each BT Group structure or entity with
duties within these processes.
Investigation of Corruption-Related Incidents/Events
The process of investigating corruption-related incidents or events is conducted based on
internal procedures that guarantee the independence of the investigation, compliance with
applicable legislation, and the protection of the fundamental rights of the individuals
involved.
Regardless of how the investigation is initiated (complaint, report, or ex officio), if, before
the investigation begins or during its course, indications arise regarding the direct or
indirect involvement of a member of the Board of Directors (BoD), the Leaders’ Committee
(LC), a Senior Executive Director, Executive Director, Coordinating Director, Director, or
Deputy Director within BT/BT Group, it is mandatory to obtain approval to continue the
investigation from the competent bodies or persons, through the management of the Audit
Department (AD), as follows:
261
Sustainability Statement 2024, Banca Transilvania Financial Group
• The Board of Directors (BoD) of BT - in cases where the person involved is a member
of the Board of Directors of BT (the decision to be made without the presence or
knowledge of the respective member), of the Board of Directors of any subsidiary
of BT Group, of the BT Leaders’ Committee (MC), or is a Senior Executive
Director/Executive Director of BT;
• The CEO and Deputy CEO, CRO - in cases where the person involved is a Managing
Director, Director, or Deputy Director within BT/BT Group;
• The Deputy CEO, CRO - with respect to other BT/BT Group employees, only in cases
where the investigation is initiated on the CRO’s own initiative.
These measures ensure the integrity of the investigation process, preventing conflicts of
interest, and maintaining the objectivity of investigations within the Group.
If a report does not clearly indicate a suspicion of fraud, the anti-fraud department may
conduct preliminary checks to properly classify the incident (suspicion of operational error,
disciplinary violation, etc.), and depending on the outcome, it may initiate an investigation,
refer the report to other relevant departments, or close the case if the suspicions are not
confirmed. Investigations are aimed exclusively at clarifying the facts and do not target
individuals or BT/BT Group employees.
Appointment of Investigators
Investigations may be conducted by:
• Internal investigators, typically employees of the Anti-Fraud Department (AFD). AFD
employees report functionally to the Anti-Fraud Director and administratively to the
Deputy CEO, CRO, a key autonomous position that reports to the governing bodies
(the Leaders’ Committee and the Board of Directors) to ensure the accuracy and
fairness of the conclusions.
• External investigators, namely third parties authorized by the Bank in accordance
with applicable law. In this case, the Bank always designates an internal
representative from the DA or from the department that reported the case as the
contact person for the duration of the investigation.
Regardless of their origin, investigators are required to conduct the investigation in a
detailed and systematic manner, in compliance with the law and respect the individual
rights (including privacy and personal life), collecting all relevant evidence and maintaining
the independence of the process.
262
Sustainability Statement 2024, Banca Transilvania Financial Group
The process of reporting results to administrative, management, and supervisory
bodies
Preparation and submission of the investigation report
Upon completion of the investigation, a formal report is prepared and submitted to:
• To decision-makers, for the implementation of appropriate measures or for
information purposes, depending on the conclusions;
• Other departments, divisions, business lines, or subsidiaries of the BT Group, if
the investigation revealed issues of interest to them. In such cases, the
investigator/team may propose the distribution of the information (in full or in the
form of a memo/excerpt/email). The proposal is subject to approval by the Board
of Directors, the Audit Committee, the CEO, or the CRO, as applicable.
If the investigation highlights issues regarding internal processes or the organization of
activities, the report is forwarded to the director of the responsible department, so that the
information may be utilized in the performance of the duties set forth in the ROA.
Procedures Following Report Approval
All approved reports are submitted to the Operational Risk Committee (CRO). For reports
containing proposals to modify or supplement the processes/workflows/procedures related
to which fraud occurred, the following steps are taken to prevent recurrence:
1. Within a maximum of two months of the report’s approval, AFD, together with the
process/procedure/workflow responsible, establishes a plan for implementing
corrective measures, with clear deadlines.
2. The plan is submitted to the CRO for approval, at which point the committee may
make additional requests, which are subsequently included in the final version.
3. The AFD and the process owners report to the CRO:
• the status of implementation at each deadline specified in the plan,
• any changes or delays that have occurred, for approval.
4. If the AFD does not receive feedback within the timeframe specified in point 1 or if
the method of implementing the measures cannot be agreed upon, the AFD sends
to the CRO a memo describing the situation for a decision.
Conflict of Interest
At the BT Group level, the issue of conflicts of interest is primarily addressed through the
Code of Ethics and Conduct, and the subject is also covered in other specific regulations
adopted at the group level that address compliance risk. Additionally, the Policy on the
Prevention and Management of Conflicts of Interest at Bănci Transilvania S.A., which
263
Sustainability Statement 2024, Banca Transilvania Financial Group
applies directly to subsidiaries, describes the circumstances in which conflicts of interest
may arise and how they should be managed.
Employees within the BT Group must complete the conflict-of-interest declaration in the
dedicated IT application, including those who do not identify such situations. Employees
must report any existing or potential conflict of interest, concerning themselves or other
employees, to their direct supervisor and to management.
The authority to assess potential conflicts of interest lies with various committees,
depending on the category of personnel concerned, as follows:
• For members of management bodies, the assessment is conducted by the
Compensation Committee and the Nomination Committee.
• For Executive Directors and members of the management body, the authority to
assess lies with the Board of Directors.
• For staff in management positions, such as agency or branch managers, the analysis
is conducted by the Leaders’ Committee.
• For staff in operational and lower management roles, the Human Resources
Committee is responsible for the analysis.
⁙ ⁙ ⁙
In 2025, at the Group level, no reports were received regarding the existence of
potential conflicts of interest.
Communication of corruption prevention and detection policies to relevant individuals
The responsibility for adopting the internal regulatory framework lies with the management
of each entity within BT Group. The primary channel for disseminating the Group’s
resources regarding applicable regulations is the Bank’s intranet.
Thus, in accordance with the Policies on Group Relations and the risk management
framework at the BT Group level, the Bank’s Internal Rules of Procedure, which are also
applicable at the subsidiary level, are posted on the BT Intranet in the “Joint Subsidiary
Regulations” section and communicated via email to their management.
For subsidiaries that do not have access to the BT network, the Internal Rules of Procedure
Management Service within the Compliance Department, together with the IT Operations
Department, the Information Security Department, and the non-banking subsidiaries of the
BT Financial Group, collaborate to identify the most effective methods for disseminating
relevant regulations. The issuing department within the Bank identifies the scope of the
regulations and forwards them to the subsidiaries, which analyze the impact on their own
methodological framework and implement any necessary adjustments; these adjustments
must be approved internally, but no later than the second meeting of the subsidiary’s Board
of Directors following notification. The subsidiaries confirm their approval to the Financial
264
Sustainability Statement 2024, Banca Transilvania Financial Group
Subsidiaries Department/Investment Subsidiaries Department at BT, which monitors the
implementation of the requirement.
In the case of similar activities not covered by regulations applicable to the entire Group,
the department responsible communicates the principles of uniform operation to the
subsidiaries, and they adjust or issue their own regulations, in accordance with the
workflow regarding Group Relations Policies and the risk management framework.
Subsidiaries classified as financial institutions align their Internal Rules of Procedure with
the requirements of the BT Financial Group.
Nature, scope, and depth of anti-corruption or anti-bribery training programs
The training programs developed at the group level regarding anti-corruption or anti-
bribery training address the main challenges that may be encountered in the company’s
day-to-day operations, namely:
• Fraud and corruption
• Fraud prevention
• Prevention of money laundering and terrorist financing
• Know Your Customer
• Prevention and management of conflicts of interest.
All these programs cover a variety of topics, depending on the difficulty level of the course
(i.e., beginner, intermediate, or advanced), and include elements of the internal procedures
in place to prevent illegal or unethical behavior.
Furthermore, where it is not possible to conduct such training and development programs
based on internal expertise, third-party training services are utilized to ensure the
necessary knowledge and expertise within the companies of the BT Group.
Management receives ongoing training and professional development just like the Group’s
employees, but the topics of these programs are tailored to the scope of responsibilities
within the company, the nature of its business, and the expertise of the individuals holding
these positions.
Positions with the highest risk of corruption and bribery
Within the BT Financial Group, the roles with the highest risk of corruption and bribery are
those involved in financial decision-making, loan approval, managing relationships with
large clients, and procurement. These include the area of retail credit analysis, where
employees may be exposed to the risk of receiving bribes for approving ineligible loans,
and the Procurement, Investments, and Logistics Department, where there is a risk of
favoring certain suppliers.
265
Sustainability Statement 2024, Banca Transilvania Financial Group
Additionally, commercial banking for legal entities, including the Large Corporate Clients,
SME, and Agribusiness segments, presents a high risk, as account managers may be
influenced to grant preferential terms. The Compliance Department and the Internal Audit
Division, although they play a preventive role, may be exposed to the risk of corruption for
concealing certain irregularities, and top management positions, having decision-making
power over financial strategies, have the potential to be influenced in favor of private
interests.
⁙ ⁙ ⁙
In 2025, 95% of positions exposed to risk were covered by training on corruption-
related issues, compared to 90% in 2024
2025
At-risk
functions
Managers
AMSB
Other own
workers
Training coverage
Total
10,067
606
52
3,654
Total receiving training
9,537
542
39
3,203
Delivery method and duration
Classroom training
1,551
130
3
4
Computer-based training
84,800
2,802
276
15,566
Frequency
How often training is required
Annually,
Semi-annually,
Quarterly
Annually,
Semi-annually,
Quarterly
Annually,
Semi-annually,
Quarterly
Annually,
Semi-annually,
Quarterly
Topics covered
Prevention and Combating of
Money Laundering (AML)
✓
✓
✓
✓
Anti-fraud
✓
✓
✓
✓
Conflict of Interest
✓
✓
✓
✓
Know Your Customer (KYC)
✓
✓
✓
✓
Code of Conduct, Conflict of
Interest, Whistleblowing Policy
✓
✓
✓
✓
*The total number of employees in each category represents active employees as of December 31, 2025.
**Depending on the type of course, their frequency may be annual, semiannual, or quarterly.
266
Sustainability Statement 2024, Banca Transilvania Financial Group
2024
At-risk
functions
Managers
AMSB
Other own
workers
Training coverage
Total
9,968
706
45
3,950
Total receiving training
8,968
525
36
2,534
Delivery method and duration
Classroom training
18,148
151
-
506
Computer-based training
36,495
1,756
131
7,652
Frequency
How often training is required
Annually,
Semi-annually,
Quarterly
Annually,
Semi-annually,
Quarterly
Annually,
Semi- annually,
Quarterly
Annually,
Semi-annually,
Quarterly
Topics covered
Prevention and Combating of
Money Laundering (AML)
✓
✓
✓
✓
Anti-fraud
✓
✓
✓
✓
Conflict of Interest
✓
✓
✓
✓
Know Your Customer (KYC)
✓
✓
✓
✓
Code of Conduct, Conflict of
Interest, Whistleblowing Policy
✓
✓
✓
✓
*The total number of employees in each category represents active employees as of December 31, 2024.
**Depending on the type of training, the frequency may be annual, semiannual, or quarterly.
Note: Comparative figures have been updated following a methodological review
conducted in 2025, which included a more detailed analysis of risk-exposed functions
within the BT Group and the harmonization of data with consolidated databases regarding
participation in training programs. This update reflects an improvement in the process of
collecting and aggregating data at the Group level.
267
Sustainability Statement 2024, Banca Transilvania Financial Group
Actions and resources for managing material impacts, risks, and opportunities related
to corruption and bribery
In 2024, Banca Transilvania implemented a well-structured action plan to manage the
material impact, risks, and opportunities related to corruption and bribery. Key measures
included the ongoing organization of mandatory employee training, with a focus on high-
risk areas, as well as the conduct of annual internal audits of procurement and contracting
processes to identify potential irregularities.
Additionally, in 2024, a rigorous system for reviewing supplier relationships through due
diligence and reputational screening was implemented using the RiskRate application,
which helps the Bank prevent exposure to fraud, acts of corruption, and other reputational
risks. These measures are applied across the entire Group and the Bank’s value chain,
having a direct impact on employees, suppliers, and customers.
In the procurement area, Banca Transilvania applies clear criteria for contract approval
through its internal procedure for the procurement of works, goods, and services. Prior to
approving a procurement, the procurement officer or internal beneficiary submits a request
regarding potential conflicts of interest and reputational risks associated with the winner
of the procurement procedure, the shortlisted finalists, or the supplier whose contract is
being extended or awarded directly. The Bank has established a timeline for optimizing
actions, which includes:
• Improving the anonymous reporting application for suspected corruption to ensure
a more efficient and secure process;
• Updating the Code of Ethics and Conduct to reflect the latest regulations and best
practices;
• Calibrating the due diligence application for contractual partners, followed by
auditing suppliers and optimizing the database;
• Integrating subsidiaries into the system, thereby expanding visibility and control
over contractual partners;
• Introducing a mandatory training course for employees focused on preventing
bribery and corruption (Anti-Bribery and Corruption – ABC).
In addition, as a remedial measure, the Bank maintains active cooperation with the
competent authorities in cases of identified corruption or bribery. The implementation of
this plan is carried out within the budgetary limits established by Banca Transilvania,
ensuring the efficient use of resources to strengthen organizational compliance and
integrity.
268
Sustainability Statement 2024, Banca Transilvania Financial Group
DR G1-4 – Incidents of corruption or bribery
⁙ ⁙ ⁙
In 2025, at the BT Group level, there were no:
• convictions for violations of anti-corruption and anti-bribery laws.
• Financial penalties for violations of anti-corruption and anti-bribery laws.
During the 2025 fiscal year, the Bank provided training to its employees who are at risk
regarding its policy. For these risk-exposed positions, training is mandatory, but the
company also made voluntary training available to other employees.
⁙ ⁙ ⁙
In 2025, the total number of training hours on corruption-related issues was twice
as high as in 2024, 39,030 hours compared to 17,747 hours.
Relationship with Suppliers
The relationship with suppliers is managed within Banca Transilvania through a
procurement process governed by internal rules and procedures dedicated to the
procurement of works, goods, and services. Procurement covers a wide range of
categories, such as investments and logistics, IT, human resources, marketing and
communications, information security, legal services, and retail operations. The process is
coordinated centrally by the procurement departments, in collaboration with specialized
divisions that manage specific types of procurement, depending on the nature of the goods
or services being contracted.
Supplier selection is typically conducted through a competitive process, which involves
evaluating multiple bids and utilizing digital tools dedicated to procurement management.
For high-value contracts, additional compliance checks are performed, including an
analysis of potential conflicts of interest and reputational risks.
Sustainability criteria are also gradually being integrated into supplier relationships by
collecting information on their environmental, social, and governance practices and by
including relevant elements in the evaluation process. Aspects such as the existence of
environmental management systems, the energy efficiency of products, or compliance with
labor conditions are taken into account in the supplier analysis.
At the same time, the Bank works extensively with local suppliers. In 2025, 97% of the
Bank’s suppliers were based in Romania, a share that reflects the predominantly local
structure of the Bank’s supply chain.
269
Sustainability Statement 2024, Banca Transilvania Financial Group
4.1 Combating Financial Crime
Combating money laundering, corruption, and terrorist financing
External Regulatory Framework
The Group operates within a European and national regulatory framework applicable to the
prevention and combating of money laundering, corruption, and terrorist financing, in
accordance with international standards and European Union requirements regarding
AML/CFT.
At the European Union level, the regulatory framework consists of the AML legislative
package adopted in 2024, which includes Regulation (EU) 2024/1624 on the prevention of
the use of the financial system for the purposes of money laundering and terrorist financing,
Directive (EU) 2024/1640 on national mechanisms for preventing and combating AML/CFT,
as well as Regulation (EU) 2024/1620 establishing the European Anti-Money Laundering
and Counter-Terrorist Financing Authority (AMLA). This framework replaces and
strengthens the previous regime established by Directive (EU) 2015/849, as amended by
Directive (EU) 2018/843.
At the national level, European requirements are implemented through applicable primary
and secondary legislation, including Law No. 129/2019, as subsequently amended and
supplemented, until the date of full transposition of the new European requirements.
In Romania, the competent authorities have intensified their AML/CFT supervision and
control activities in recent years, including in applying the international sanctions regime.
Compliance with this framework requires the implementation of robust governance
mechanisms, effective internal processes for identifying, assessing, and mitigating ML/FT
risks, as well as significant investments in IT systems and technological solutions for
monitoring, screening, and reporting. At the same time, it is necessary to allocate dedicated
resources for prevention, continuous monitoring, and reporting to competent authorities.
Internal Regulatory Framework
The Group has implemented a unified internal system for preventing and combating money
laundering, terrorist financing, corruption, and violations of international sanctions regimes,
designed in accordance with applicable legal requirements and best practices in the field
of AML/CFT. The system is built on an integrated, risk-based approach, supported by a
unified framework of common rules, policies, and procedures applicable to Group entities,
as well as by adequate internal controls.
This framework applies across the entire organization, including employees, management
structures, and suppliers, and is supported by clear governance structures, well-defined
responsibilities and monitoring/control mechanisms. The measures implemented
270
Sustainability Statement 2024, Banca Transilvania Financial Group
contribute significantly to reducing compliance and financial crime risks, though they
cannot eliminate them entirely, given the complexity, dynamics, and continuous evolution
of financial crime patterns.
At the BT Group level, the AML/CTF framework is integrated into a broader system of
compliance, ethics, and accountability, which also includes anti-corruption measures,
compliance with applicable legislation and competition rules, management of conflicts of
interest, ensuring political neutrality, information security, protection of personal data, and
respect for human rights.
Banca Transilvania has an internal regulatory framework structured around four main pillars
that support the management of compliance and financial crime risks:
• regulations regarding know-your-customer
• policies related to the compliance function
• policies dedicated to the prevention of money laundering and terrorist financing
• general policies applicable across the entire organization
This set of regulations ensures a consistent approach that is aligned with legal
requirements, helping to strengthen governance and a culture of compliance within the
Bank.
Know Your Customer
The customer due diligence process aims to identify, analyze, and assess the risks
associated with each customer prior to establishing or continuing a business relationship,
by applying proportionate customer due diligence measures.
As defined by the Bank, the term “customer” includes any natural person, legal entity, or
unincorporated entity with which the Bank conducts business relationships or with which
it carries out other operations on a permanent or occasional basis. A customer is any person
with whom, during its activities, the Bank has negotiated a transaction, even if that
transaction was not finalized, as well as any person who benefits or has benefited in the
past from the Bank’s services. Persons who hold only the following capacities are not
considered clients: legal representative, authorized representative, delegate, beneficial
owner, user of supplementary cards, guarantors/sureties/co-debtors in credit agreements.
Banca Transilvania accepts as customers:
• resident or non-resident individuals, provided they submit identification documents
to the Bank and request the establishment of a business relationship;
• adult resident individuals who apply to establish a business relationship through
digital channels;
• resident legal entities that prove, based on the documents submitted, their legal
establishment and operation;
271
Sustainability Statement 2024, Banca Transilvania Financial Group
• resident legal entities applying to establish a business relationship through digital
channels, provided the following conditions are met: the sole director and
shareholder is a resident natural person, with no identified risk factors;
• non-resident legal entities that submit to the Bank documents proving their legal
establishment and operation, in a notarized certified translation;
• any person or entity that uses a service or product offered by the Bank, whether or
not the transaction involves opening a checking account.
Establishing a business relationship with clients entails the following requirements:
• identifying customers and verifying their identity;
• identifying the risk factors associated with customers;
• classifying customers into the associated risk score/category;
• establishing the hierarchical level of approval for accepting customers, namely:
- the authority to verify and sign account opening documentation/supervision via
the onboarding application;
- the authority to approve the initiation of the business relationship, based on the
assigned risk score/category;
• adopting decisions, highlighting the hierarchical positions, tasks, and level of
responsibility assigned to the structures/persons involved in the application of
customer due diligence measures.
During the enrollment and account opening/data update phase, the following requirements
must be met:
• identifying risk factors associated with risk categories and automatically calculating
the final risk score assigned to the customer based on the criteria in the risk matrix;
• classification into risk categories based on the calculated risk score;
• the authority to verify and sign account opening documentation, as well as
supervision via the onboarding application;
• the authority to approve the initiation/continuation of the business relationship.
High-risk customers include, among others, non-residents, customers providing money or
value transfer services (MVTS), entities providing financial services such as currency
exchange, money transfers, or the issuance of payment instruments (MSB), politically
exposed persons, and correspondent banking institutions. Enhanced due diligence
measures apply to these customers, consisting of senior management approval, product
allocation based on eligibility criteria, and continuous, risk-based monitoring of
transactions.
The process of updating data at the customer portfolio level is carried out according to the
assigned risk level, namely:
272
Sustainability Statement 2024, Banca Transilvania Financial Group
• high-risk clients / clients in the high-risk and very high-risk categories: annually;
• medium-risk customers / those in the standard-risk categories: every 3 (three)
years;
• low-risk customers / from the low-risk categories: every 5 (five) years.
Assessment of ML/TF risks and international sanctions across the entire business
The Bank’s risk-based assessment is a process through which the threats and
vulnerabilities to which the Bank is exposed are identified, and the probability and impact
of money laundering and terrorist financing risks are evaluated. Based on this assessment,
high-risk areas are identified, which must be mitigated through proportionate measures
and a continuous monitoring process.
The Bank conducts an ML/FT and international sanctions risk assessment across its entire
operations considering risk factors such as: customer type, products/services,
transactions, geographic areas, distribution channels, and risks related to territorial units.
Stress tests are incorporated into the assessment processes to analyze the impact of
increased transaction volumes, emerging patterns, systemic failures, and regulatory
changes; the results are used in the strategic decision-making process, as well as to define
remedial measures and optimize resource allocation.
As part of the ML/FT risk assessment process, the inherent risk associated with relevant
risk factors is identified and evaluated; subsequently, the effectiveness and adequacy of
existing controls are analyzed to determine the residual risk level, which reflects the actual
exposure after the application of mitigation measures. ML/FT risk monitoring consists of
actions to monitor the status of implementation of ML/FT risk mitigation measures and
periodic testing of ML/FT risk mitigation measures to verify/identify whether: i) the Bank’s
own risk assessments and the methodology for conducting and updating them are relevant,
and ii) there is a need to update the risk assessment. The Bank’s ML/FT risk assessment,
in accordance with the methodology, is updated annually or at 12–18-month intervals
(depending on national assessments or feedback from the supervisory authority), as well
as whenever necessary, depending on legislative developments at the national and
European levels or operational changes at the Bank regarding customers, products,
transactions, distribution channels, and geographic areas.
273
Sustainability Statement 2024, Banca Transilvania Financial Group
Product Governance
As part of the compliance risk management and product governance process, digital
projects affecting the corporate and retail business lines are analyzed by the Compliance
Division from a compliance risk perspective. This assessment aims to ensure that new
initiatives or proposed changes comply with legal requirements regarding know-your-
customer, anti-money laundering, and counter-terrorist financing.
Compliance risk opinions are issued as early as the initial stages of project development.
Subsequently, product assessment documentation is prepared, based on which the
compliance risk level for each banking product or service is determined, in line with the
criteria set forth in Internal Rules of Procedure.
The assessment process focuses on identifying areas requiring additional risk management
measures in the KYC/AML/CFT and international sanctions domains. The Compliance
Division proposes proportionate monitoring and mitigation actions, depending on the
identified cases. If the identified risks cannot be adequately mitigated, a negative
compliance opinion may be issued, resulting in the non-approval of the launch of the
respective product or service.
Classification of products based on ML/TF risk
Banking products are classified into risk categories based on a score derived from the
assessment of their characteristics and the risks associated with their use from the
perspective of money laundering, terrorist financing, and international sanctions. The
assigned risk level determines the corresponding level of monitoring, the application of
control mechanisms, and the approval level.
Low risk level: products that, by their nature and manner of use, present non-existent or
insignificant risks. They allow for the full application of KYC measures, transaction
monitoring, and record-keeping (e.g., mortgage loans for individuals, Credit Noua Casă,
IMM Invest loans, bancassurance products, payroll distribution agreements).
Medium-low risk: products that involve minor but manageable risks from an AML/CFT
perspective. They allow for the application of standard customer due diligence measures
and adequate transaction monitoring (e.g., letters of credit, time deposits, savings
accounts, working capital loans, credit cards, SME factoring).
Medium risk level: products that, depending on the nature and volume of use, may pose
controllable but higher risks, requiring increased monitoring and the application of standard
and additional due diligence measures (e.g., cash transactions, international transfers,
currency exchange, BT Pay, internet banking, instant transfers, Western Union).
Medium-high risk level: products that may generate significant risks and for which there
are limitations in the full application of identification, monitoring, or control measures. They
require additional controls and approval at a higher management level.
274
Sustainability Statement 2024, Banca Transilvania Financial Group
High risk level: products that pose major or unacceptable -related risks, either due to
control limitations or exposure to jurisdictions or activities with very high ML/TF risk. These
are not undertaken by the bank without special approval or may be excluded from the
offering.
The bank does not hold products classified as medium-high or high risk in its portfolio.
Roles and Responsibilities
The compliance function is organized centrally and is independent, reporting to the Deputy
CEO and Chief Risk Officer, who is not involved in business activities and is responsible for
coordinating risk management and the internal control system. The compliance function
reports directly to executive management (the Leaders’ Committee) and indirectly to the
Board of Directors, in line with the requirements regarding the independence of the
compliance function.
Main responsibilities of the Compliance Division:
• ensuring the implementation of compliance function requirements within the Bank,
an independent Level II internal control function, as defined in the Compliance Policy
of Banca Transilvania S.A.;
• assessing, quantifying, managing, and reporting compliance risk, both in the area of
general compliance, including MiFID, and in the KYC/AML/CFT area;
• identifying compliance risk through continuous monitoring and Level II compliance
control activities;
• approving new products or significant changes to existing products, processes, and
systems;
• receiving draft Internal Rules of Procedure from the Bank’s specialized organizational
units and submitting them (depending on the assigned authority/mandate) for
review/approval by the Leaders’ Committee and the Board of Directors, respectively;
• managing the entire portfolio of Bank Transilvania’s Internal Rules of Procedure;
• ensuring Banca Transilvania’s compliance with legal requirements regarding know-
your-customer (KYC), the prevention and combating of money laundering and
terrorist financing, and the enforcement of international sanctions;
• monitoring the branch customer portfolio for compliance with KYC standards and
identifying associated risks;
• maintaining relationships with competent authorities (e.g., ONPCSB) and managing
requests regarding the accounts and activities of targeted customers;
• conducting training for all Bank staff on General Compliance and KYC/AML/CFT
issues, and testing their knowledge following the training;
• developing the Annual Compliance Program;
• coordinating the alignment of principles regarding the compliance activities of
Banca Transilvania’s subsidiaries, both in terms of compliance risk management and
275
Sustainability Statement 2024, Banca Transilvania Financial Group
control, as well as standards for KYC and AML and counter-terrorist financing,
including by providing specific support upon request; collaborating with other
internal control functions, risk management and internal audit, on specific issues,
whenever necessary.
AML/CFT governance is ensured through periodic reporting to senior management and
relevant committees, clear mechanisms for escalating significant deficiencies, the
involvement of the internal audit function in assessing the independence and effectiveness
of the control framework, as well as through the systematic monitoring of identified
deficiencies, followed by the implementation and tracking of remedial measures, in line with
applicable prudential supervisory requirements.
At least once a year, the Coordinating Director of the Compliance Division submits an annual
compliance report to management, which includes an assessment of the Bank’s exposure
to money laundering and terrorist financing risks, the level of residual risk, proposed or
implemented mitigation measures, the status of their implementation, as well as other
relevant aspects regarding the effectiveness of the AML/CFT governance and control
framework.
Monitored indicators
The Bank tracks an extensive set of indicators in the areas of KYC/AML/CFT and
international sanctions on a quarterly basis, which are subject to reporting to the
supervisory authority. These are used to assess the effectiveness of the control framework
and to identify areas requiring strengthening, operational optimization, or additional
resource allocation.
CUSTOMERS
2025
2024
% of total customers of non-resident customers
2.10
1.76
% of total customers with origin/citizenship/residence/country of registration
in countries identified by the European Commission/FATF as high-risk
countries or as having strategic deficiencies in AML/CFT
0.31
0.15
% of total customers of customers having at least 1 beneficial owner with
origin/citizenship/residence in countries on the list of countries identified by
the European Commission/FATF as high-risk countries or as having strategic
deficiencies in AML/CFT
0.35
0.19
% of total customers of customers having at least one non-resident beneficial
owner
0.45
0.40
% of total non-resident customers of customers with residence/country of
registration in offshore countries
0.27
0.24
276
Sustainability Statement 2024, Banca Transilvania Financial Group
% of total clients of private banking clients
0.11
0.10
% of total private banking clients of non-resident private banking clients
3.29
3.27
% of total customers of PEP customers
0.04
0.03
% of total PEP customers of non-resident PEP customers
1.99
1.53
% of total customers of customers with RTS during the reference period
0.0297
0.02
% of total customers with requests for information from authorities during the
reference period
0.00962
0.01071
% of total customers who are in risk classes higher than the
medium/standard/ordinary/normal category
2.73
2.50
% of total customers in risk classes lower than the
medium/standard/ordinary/normal category
91.35
88.07
% of total customers who hold/have held accounts in foreign currency only
0.18
0.20
% of total customers with data not updated within the timeframe specified by
Internal Rules of Procedure
0.49
0.98
% of total customers in risk classes higher than the
medium/standard/usual/normal category at the end of the reference period/at
the time of closing the business relationship of customers in risk classes
higher than the medium/standard/ordinary/normal who held at least 1 high-risk
product at the end of the reference period/at the time of closing the business
relationship
0
0
% of total corporate and similar customers of payment institutions and
electronic money institutions
0.00160
0.00035
% of total customers of payment institutions and electronic money institutions
of non-resident customers of payment institutions and electronic money
institutions
10.00
0
% of customers with a newly opened account in the customer portfolio
(number of new customers / (number of customers in the reference period –
number of closed accounts))
9.74
10.35
% of total customers to whom simplified customer due diligence measures are
applied
0
0
Customers for whom a decision was made to initiate/continue the business
relationship in the context of an unfavorable ML/FT opinion during the
reporting period
4
0
Relationships rejected (not initiated or not maintained) due to incomplete
customer information/inability to apply standard customer due diligence
measures
94
16
277
Sustainability Statement 2024, Banca Transilvania Financial Group
PRODUCTS/SERVICES
2025
2024
Products assessed as high risk at the end of the reporting period
0
0
% of total customers in risk classes higher than the
medium/standard/ordinary/normal category at the end of the reference period of
customers in risk classes higher than the medium/standard/ordinary/normal
category who held at least one of the IB/MB products
67.03
74.50
% of customers with increased card limits during the reference period out of the
total number of customers holding at least one card
10.99
10.19
% of customers with increased IB/MB transaction limits during the reference period
out of the total number of customers holding at least one of the two products
(IB/MB)
0
0
% of customers holding at least one of the IB/MB products at the end of the
reference period out of the total number of customers in the portfolio at the end of
the reference period
46.11
51.62
Audit reports that included the assessment of KYC/AML/CFT
processes/components/structures among their objectives
Internal
Auditor
(2025)
Internal
Auditor
(2024)
Number of audit engagements scheduled during the reporting
period, including KYC/AML/CFT reviews (including at the level of
relevant IT applications)
28
28
Number of actions performed during the reporting period, including
KYC/AML/CFT checks (including at the level of relevant IT
applications)
30
31
Total number of KYC/AML/CFT-related recommendations issued
during the reporting period as part of these actions
47
33
Total number of KYC/AML/CFT-related recommendations for which
an extension of the initially set implementation deadline was
approved during the reference period
0
1
Total number of recommendations related to KYC/AML/CFT that
have reached their deadline and remain unimplemented
0
0
Training
Banca Transilvania ensures, through its Compliance Division, ongoing training for all BT
Financial Group personnel across all lines of defense. Within the Bank, staff training on
matters related to know-your-customer standards, anti-money laundering, and counter-
terrorist financing is conducted by: The Compliance Division, which is responsible for
ensuring and monitoring employee training on issues related to know-your-customer
standards and the prevention and combating of money laundering, as well as the financing
of terrorist acts, across the entire BT Financial Group; The Deputy Director of Operations /
Head of Operations / mentor, who are the individuals responsible for training employees at
278
Sustainability Statement 2024, Banca Transilvania Financial Group
each branch on issues related to know-your-customer standards and the prevention and
combating of money laundering, as well as the financing of terrorist acts. The Risk /
Compliance Director / Compliance Officer of each subsidiary, who is responsible for training
employees to comply with requirements regarding customer due diligence standards and
the prevention and combating of money laundering within the subsidiaries.
The staff training and testing program includes topics with appropriate levels of complexity
and frequency, differentiated according to the type of responsibilities and specific
competencies of the positions, across all lines of defense. Staff training on KYC/AML/CFT
issues is determined based on the skills required for an employee to properly perform tasks
in this area, depending on the compliance responsibilities established in the job description
and the level/type of knowledge identified following the analysis of the assessment results.
The assessment of knowledge regarding the prevention and combating of money
laundering and terrorist financing is conducted annually for all eligible and active staff of
the Bank, with the testing tailored to the specific knowledge level of each Group. The
calculation and reporting of participation rates in the annual testing will be carried out in
accordance with the quantitative assessment criteria, and the objective is considered
achieved when: ≥90% of all eligible staff participate in the courses intended for all BT Group
staff; ≥95% of scheduled staff participate in the mandatory tests.
Planned actions to improve performance in combating financial crime
The Group plans to implement a unified KYC process for shared customers, based on a
single risk scoring model that applies uniformly across all entities. This initiative aims to
standardize customer risk assessment criteria, reduce differences in approach among
entities, and consolidate a unified perspective on the Group’s exposure to money laundering
and terrorist financing risks.
The single scoring model will integrate a coherent set of risk factors, including customer
type, geographic exposure, products and services used, transactional behavior, and other
relevant indicators, in accordance with the risk-based approach principle.
The implementation of this approach is intended to support consistent customer
classification, the proportionate application of due diligence measures, and improved
monitoring of business relationships across the entire Group, contributing to the
strengthening of the capacity to identify, assess, and manage ML/TF risks.
279
Sustainability Statement 2024, Banca Transilvania Financial Group
ADDENDUM 1. Disclosure Requirements
Covered by the Sustainability Statement
The table below presents the disclosure requirements from ESRS 2 and the material topic
standards and indicates where information regarding each specific requirement can be
found.
List of material disclosure requirements
Page number
BP-1
General basis for preparation of the sustainability statements
4
BP-2
Disclosures in relation to specific circumstances
6
GOV-1
The role of the administrative, management and supervisory bodies
11
GOV-2
Information provided to and sustainability matters addressed by the
undertaking’s administrative, management and supervisory bodies
22
GOV-3
Integration of sustainability- related performance in incentive schemes
24
GOV-4
Statement on sustainability due diligence
25
GOV-5
Risk management and internal controls over sustainability reporting
26
SBM-1
Market position, strategy, business model and value chain
28
SBM-2
Interests and views of stakeholders
56
SBM-3
Material impacts, risks and opportunities and their interaction with
strategy and business model
60
IRO-1
Description of the processes to identify and assess material impacts,
risks and opportunities
71
IRO-2
Disclosure Requirements in ESRS covered by the undertaking’s
sustainability statements
279
E1
CLIMATE CHANGE
89
E1.GOV-3
Integration of sustainability-related performance in incentive schemes
24
E1.SBM-3
Material impacts, risks and opportunities and their interaction with
strategy and business model
62
E1.IRO-1
Description of the processes to identify and assess material impacts,
risks and opportunities
71
E1-1
Transition plan for climate change mitigation
The Group does
not yet have a
climate
transition plan,
but its
development is
underway, in line
with the
strategic
direction
adopted.
E1-2
Policies related to climate change mitigation and adaptation
109
E1-6
Gross Scopes 1, 2, 3 and Total GHG emissions
89
E5
RESOURCE USE AND CIRCULAR ECONOMY
115
E5.IRO-1
Description of the processes to identify and assess material impacts,
risks and opportunities
71
E5-1
Policies related to resource use and circular economy
115
E5-2
Actions and resources related to resource use and circular economy
118
280
Sustainability Statement 2024, Banca Transilvania Financial Group
E5-3
Targets related to resource use and circular economy
118
S1
OWN WORKFORCE
S1.SBM-2
Interests and views of stakeholders
56
S1.SBM-3
Material impacts, risks and opportunities and their interaction with
strategy and business model
62
S1-1
Policies related to own workforce
124
S1-2
Processes for engaging with own workforce and workers’
representatives about impacts
142
S1-3
Processes to remediate negative impacts and channels for own
workforce to raise concerns
145
S1-4
Taking action on material impacts on own workforce, and approaches to
managing material risks and pursuing material opportunities related to
own workforce, and effectiveness of those actions
147
S1-5
Targets related to managing material negative impacts, advancing
positive impacts, and managing material risks and opportunities
149
S1-6
Characteristics of the undertaking’s employees
119
S1-9
Diversity metrics
119
S1-10
Adequate wages
127
S1-13
Training and skills development metrics
129
S1-14
Health and safety metrics
137
S1-16
Remuneration metrics (pay gap and total remuneration)
127
S1-17
Incidents, complaints and severe human rights impacts
134
S4
CONSUMERS AND END-USERS
151
S4.SBM-2
Interests and views of stakeholders
56
S4.SBM-3
Material impacts, risks and opportunities and their interaction with
strategy and business model
62
S4-1
Policies related to consumers and end-users
154
S4-2
Processes for engaging with consumers and end-users about impacts
162
S4-3
Processes to remediate negative impacts and channels for consumers
and end-users to raise concerns
178
S4-4
Taking action on material impacts on consumers and end-users, and
approaches to managing material risks and pursuing material
opportunities related to consumers and end-users, and effectiveness of
those actions
166
S4-5
Targets related to managing material negative impacts, advancing
positive impacts, and managing material risks and opportunities
179
G1
BUSINESS CONDUCT
253
G1.GOV-1
The role of the administrative, supervisory and management bodies
11
G1.IRO-1
Description of the processes to identify and assess material impacts,
risks and opportunities
71
G1-1
Business conduct policies and corporate culture
253
G1-3
Prevention and detection of corruption and bribery
260
G1-4
Incidents of corruption or bribery
268
TS
SPECIFIC TOPICS
TS1
Sustainable Finance
181
TS2
Entrepreneurship Education
219
TS3
General framework for preparing sustainability statements
238
TS4
Disclosures regarding specific circumstances
269
281
Sustainability Statement 2024, Banca Transilvania Financial Group
ADDENDUM 2. List of Indicators Deriving
from other EU Legislation
The table below includes all ESRS indicators derived from other EU legislation and specifies
where the information can be found, if it has been determined to be material.
Presentation requirement
and related indicator
SFDR
Reference
Reference Pillar 3
Benchmarks
Regulation
Reference to
European Climate
Law
Material/
Not
material
No. pag.
ESRS 2 GOV-1
Gender diversity of the
board of directors,
paragraph 21 (d)
Indicator 13
in Table 1 of
Annex 1
EU Commission
Delegated
Regulation
2020/1816, Annex II
YES
11
ESRS 2 GOV-1
Percentage of board
members who are
independent, paragraph
21(e)
Delegated
Regulation (EU)
2020/1816, Annex II
YES
11
ESRS 2 GOV-4
Statement on due
diligence, paragraph 30
Indicator 10
in Table 3 of
Annex 1
YES
25
ESRS 2 SBM-1
Involvement in fossil fuel-
related activities,
paragraph 40(d) i
Indicator 4 in
Table 1 of
Annex 1
Article 449a of EU
Regulation
575/2013;
Implementing
Regulation (EU)
2022/2453
Table 1: Qualitative
information on
environmental and
Table 2: Qualitative
information on social
risk
Delegated
Regulation (EU)
2020/1816, Annex II
NO
N/A
ESRS 2 SBM-1
Involvement in activities
related to chemical
production, paragraph
40(d)(ii)
Indicator 9 in
Table 2 of
Annex 1
Delegated
Regulation (EU)
2020/1816, Annex II
NO
N/A
282
Sustainability Statement 2024, Banca Transilvania Financial Group
ESRS 2 SBM-1
Involvement in activities
related to controversial
weapons, paragraph
40(d)(iii)
Indicator 14
in Table 1 of
Annex 1
Delegated
Regulation (EU)
2020/1818, Art. 12
(1)
Delegated
Regulation (EU)
2020/1816, Annex II
NO
N/A
ESRS 2 SBM-1
Involvement in activities
related to the cultivation
and production of
tobacco, paragraph 40
(d) iv
Delegated
Regulation (EU)
2020/1818, Art. 12
(1)
Delegated
Regulation (EU)
2020/1816, Annex II
NO
N/A
ESRS E1-1
Transition Plan for
Achieving Climate
Neutrality by 2050,
paragraph 14
Regulament UE
2021/1119, Art. 2 (1)
YES
The Group
does not yet
have a
climate
transition
plan, but its
development
is underway,
in line with
the strategic
direction
adopted.
ESRS E1-1
Entities excluded from
Paris-aligned
benchmarks, paragraph
16 (g)
Article 449a of EU
Regulation
575/2013;
Implementing
Regulation (EU)
2022/2453
Model 1: Banking
Book – Climate-
related transition
risk: Credit quality of
exposures by sector,
issuance, and
residual maturity
Delegated
Regulation (EU)
2020/1818, Art.
12.1(d) to (g) and
Art. 12.2
NO
N/A
283
Sustainability Statement 2024, Banca Transilvania Financial Group
ESRS E1-4
Greenhouse gas (GHG)
emission reduction
targets, paragraph 34
Indicator 4 in
Table 2 of
Annex 1
Article 449a of EU
Regulation
575/2013;
Implementing
Regulation (EU)
2022/2453
Template 3: Banking
Book – Climate-
related transition
risk: alignment
indicators
Delegated
Regulation (EU)
2020/1818, Art. 6
YES
The Group
has not yet
established
GHG
reduction
targets.
ESRS E1-5
Energy consumption from
fossil sources, broken
down by source (only for
sectors with high climate
impact), paragraph 38
Indicator 5 in
Table 1 and
Indicator 5 in
Table 2 of
Annex 1
NO
N/A
ESRS E1-5
Energy consumption and
energy mix, paragraph 37
Indicator 5 in
Table 1 of
Annex 1
NO
N/A
ESRS E1-5
Energy intensity
associated with activities
in sectors with high
climate impact,
paragraphs 40–43
Indicator 6 in
Table 1 of
Annex 1
NO
N/A
ESRS E1-6
Gross GHG emissions for
Scopes 1, 2, and 3 and
total greenhouse gas
emissions, paragraph 44
Indicators 1
and 2 in
Table 1 of
Annex 1
Article 449a of EU
Regulation
575/2013;
Implementing
Regulation (EU)
2022/2453
Template 1: Banking
Book – Climate-
related transition
risk: Credit quality of
exposures by sector,
emissions, and
residual maturity
Delegated
Regulation (EU)
2020/1818, Art. 5(1),
6, and 8(1)
YES
93
284
Sustainability Statement 2024, Banca Transilvania Financial Group
ESRS E1-6
Gross greenhouse gas
emissions intensity,
paragraphs 53–55
Indicator 3 in
Table 1 of
Annex 1
Article 449a of EU
Regulation
575/2013;
Implementing
Regulation (EU)
2022/2453
Template 3: Banking
Book – Climate-
related transition
risk: alignment
indicators
Delegated
Regulation (EU)
2020/1818, Art. 8
(1)
YES
94
ESRS E1-7
Elimination of greenhouse
gases (GHG) and carbon
credits, paragraph 56
Regulament (UE)
2021/1119, Art. 2 (1)
NO
N/A
ESRS E1-9
Exposure of the reference
portfolio to physical risks
related to climate change,
paragraph 66
Delegated
Regulation (EU)
2020/1818, Annex II
Delegated
Regulation (EU)
2020/1816, Annex II
NO
N/A
ESRS E1-9
Breakdown of monetary
amounts by acute and
chronic physical risk,
paragraph 66(a)
ESRS E1-9
Location of significant
assets exposed to
material physical risk,
paragraph 66 (c)
Article 449a of EU
Regulation
575/2013;
Implementing
Regulation (EU)
2022/2453,
paragraphs 46 and
47;
Template 5: Banking
Book – Physical risk
related to climate
change: Exposures
subject to physical
risk
NO
N/A
ESRS E1-9
Breakdown of the
carrying amount of its real
estate assets by energy
efficiency classes,
paragraph 67(c)
Article 449a of EU
Regulation
575/2013;
Implementing
Regulation (EU)
2022/2453,
paragraph 34;
Template 2: Banking
Book - Climate-
related transition
risk: Loans secured
by real estate -
Energy efficiency of
the collateral
NO
N/A
285
Sustainability Statement 2024, Banca Transilvania Financial Group
ESRS E1-9
Degree of portfolio
exposure to climate
change opportunities,
paragraph 69
Delegated
Regulation (EU)
2020/1818, Annex II
NO
N/A
ESRS E2-4
The quantity of each
pollutant listed in Annex II
of the E-PRTR Regulation
(European Pollutant
Release and Transfer
Register) released into air,
water, and soil, paragraph
28
Indicator 8 in
Table 1 of
Annex 1
Indicator 2 in
Table 2 of
Annex 1
Indicator 1 in
Table 2 of
Annex 1
Indicator 3 in
Table 2 of
Annex 1
NO
N/A
ESRS E3-1
Water and marine
resources, paragraph 9
Indicator 7 in
Table 2 of
Annex 1
NO
N/A
ESRS E3-1
Dedicated policy,
paragraph 13
Indicator 8 of
Table 2 of
Annex 1
NO
N/A
ESRS E3-1
Sustainable oceans and
seas, paragraph 14
Indicator 12
of
Table 2 of
Annex 1
NO
N/A
ESRS E3-4
Total amount of water
recycled and reused,
paragraph 28 (c)
Indicator 6.2
in
Table 2 of
Annex 1
NO
N/A
ESRS E3-4
Total water consumption
in m³ relative to net
revenue from own
operations, paragraph 29
Indicator 6.1
of
Table 2 of
Annex 1
NO
N/A
ESRS 2-SBM 3 - E4
Paragraph 16 (a) i
Indicator 7 in
Table 1 of
Annex 1
NO
N/A
ESRS 2-SBM 3 - E4
Paragraph 16 (b)
Indicator 10
in
Table 2 of
Annex 1
NO
N/A
286
Sustainability Statement 2024, Banca Transilvania Financial Group
ESRS 2-SBM 3 - E4
Paragraph 16 (c)
Indicator 14
of
Table 2 of
Annex 1
NO
N/A
ESRS E4-2
Practices or policies for
sustainable oceans/seas,
paragraph 24 (c)
Indicator 11
of
Table 2 of
Annex 1
NO
N/A
ESRS E4-2
Practices or policies for
sustainable oceans/seas,
paragraph 24 (c)
Indicator 12
of
Table 2 of
Annex 1
NO
N/A
ESRS E4-2
Policies to combat
deforestation, paragraph
24 (d)
Indicator 15
of
Table 2 of
Annex 1
NO
N/A
ESRS E5-5
Non-recycled waste,
paragraph 37 (d)
Indicator 13
of
Table 2 of
Annex 1
NO
N/A
ESRS E5-5
Hazardous and
radioactive waste,
paragraph 39
Indicator 9 in
Table 1 of
Annex 1
NO
N/A
ESRS 2-SBM3 - S1
Risk of forced labor
incidents, paragraph 14
(f)
Indicator 13
of
Table 3 of
Annex 1
NO
N/A
ESRS 2-SBM3 - S1
Risk of child labor
incidents, paragraph 14
(g)
Indicator 12
of
Table 3 of
Annex 1
NO
N/A
ESRS S1-1
Human Rights Policy
Commitments, paragraph
20
Indicator 9 in
Table 3 and
Indicator 11 in
Table 1 of
Annex 1
YES
125
ESRS S1-1
Due diligence policies
regarding the issues
addressed by the
International Labor
Organization’s core
conventions 1–8,
paragraph 21
Delegated
Regulation (EU)
2020/1816, Annex II
YES
125
287
Sustainability Statement 2024, Banca Transilvania Financial Group
ESRS S1-1
Processes and measures
to prevent human
trafficking, paragraph 22
Indicator 11
of
Table 3 of
Annex 1
NO
N/A
ESRS S1-1
Workplace Accident
Prevention Policy or
Management System,
Paragraph 23
Indicator 1 in
Table 3 of
Annex 1
YES
137
ESRS S1-3
Mechanisms for resolving
complaints, paragraph 32
(c)
Indicator 5 of
Table 3 of
Annex 1
YES
145
ESRS S1-14
Number of fatalities and
number and rate of
occupational accidents,
paragraph 88 (b) and (c)
Indicator 2 in
Table 3 of
Annex 1
Delegated
Regulation (EU)
2020/1816, Annex II
YES
138
ESRS S1-14
Number of days lost due
to injuries, accidents,
deaths, or illnesses,
paragraph 88(e)
Indicator 3 in
Table 3 of
Annex 1
Delegated
Regulation (EU)
2020/1816, Annex II
YES
138
ESRS S1-16
Gender pay gap,
unadjusted, paragraph
97(a)
Indicator 12
of
Table 1 of
Annex 1
Delegated
Regulation (EU)
2020/1816, Annex II
YES
128
ESRS S1-16
Annual remuneration rate
of the CEO, paragraph
97(b)
Indicator 8 of
Table 3 of
Appendix 1
YES
128
ESRS S1-17
Incidents of
discrimination, paragraph
103 (a)
Indicator 7 of
Table 3 of
Annex 1
YES
134
ESRS S1-17
Non-compliance with the
UN Guiding Principles on
Business and Human
Rights and the OECD
Guidelines, paragraph 104
(a)
Indicator 10
in
Table 1 and
Indicator 14
of Table 3 of
Annex 1
Delegated
Regulation (EU)
2020/1816, Annex II
Delegated
Regulation (EU)
2020/1818, Article
12(1)
YES
134
288
Sustainability Statement 2024, Banca Transilvania Financial Group
ESRS 2-SBM3 – S2
Significant risk of child
labor or forced labor in
the value chain,
paragraph 11(b)
Indicators 12
and 13 in
Table 3 of
Annex 1
NO
N/A
ESRS S2-1
Human rights policy
commitments, paragraph
17
Indicator 9 in
Table 3 and
Indicator 11
in
Table 1 of
Annex 1
NO
N/A
ESRS S2-1
Policies related to
workers in the value
chain, paragraph 18
Indicators 11
and 4 in
Table 3 of
Annex 1
NO
N/A
ESRS S2-1
Non-compliance with the
UN Guiding Principles on
Business and Human
Rights and the OECD
Guidelines, paragraph 19
Indicator 10
in
Table 1 of
Annex 1
Delegated
Regulation (EU)
2020/1816, Annex II
Delegated
Regulation (EU)
2020/1818, Article
12(1)
NO
N/A
ESRS S2-1
Due diligence policies
regarding the issues
addressed by the
fundamental conventions
of the International Labor
Organization 1–8,
paragraph 19
Delegated
Regulation (EU)
2020/1816, Annex II
NO
N/A
ESRS S2-4
Human rights issues and
incidents in the upstream
and downstream value
chain, paragraph 36
Indicator 14
in
Table 3 of
Annex 1
NO
N/A
ESRS S3-1
Human rights policy
commitments, paragraph
16
Indicator 9 in
Table 3 and
Indicator 11
in
Table 1 of
Annex 1
NO
N/A
289
Sustainability Statement 2024, Banca Transilvania Financial Group
ESRS S3-1
Non-compliance with the
UN Guiding Principles on
Business and Human
Rights, ILO principles, or
OECD guidelines,
paragraph 17
Indicator 10
of
Table 1 of
Annex 1
Delegated
Regulation (EU)
2020/1816, Annex II
Delegated
Regulation (EU)
2020/1818, Article
12(1)
NO
N/A
ESRS S3-4
Human rights issues and
incidents, paragraph 36
Indicator 14
of
Table 3 of
Annex 1
NO
N/A
ESRS S4-1
Policies related to
consumers and end-
users, paragraph 16
Indicator 9 in
Table 3 and
Indicator 11
in
Table 1 of
Annex 1
YES
154
ESRS S4-1
Non-compliance with the
UN Guiding Principles on
Business and Human
Rights and the OECD
Guidelines, paragraph 17
Indicator 10
of
Table 1 of
Annex 1
Delegated
Regulation (EU)
2020/1816, Annex II
Delegated
Regulation (EU)
2020/1818, Article
12(1)
YES
158
ESRS S4-4
Human rights issues and
incidents, paragraph 35
Indicator 14
of
Table 3 of
Annex 1
YES
158
ESRS G1-1
United Nations
Convention against
Corruption, paragraph 10
(b)
Indicator 15
of
Table 3 of
Annex 1
YES
254
ESRS G1-1
Protection of
Whistleblowers,
paragraph 10 (d)
Indicator 6 of
Table 3 of
Annex 1
YES
256
ESRS G1-4
Fines for violations of
anti-corruption and anti-
bribery legislation,
paragraph 24 (a)
Indicator 17
of
Table 3 of
Annex 1
Delegated
Regulation (EU)
2020/1816, Annex II
YES
268
ESRS G1-4
Standards on Anti-
Corruption and Anti-
Bribery Legislation,
paragraph 24(b)
Indicator 16
of
Table 3 of
Annex 1
YES
260
290
Sustainability Statement 2024, Banca Transilvania Financial Group
ADDENDUM 3. Management Structures at
the Subsidiary Level as of December 31,
2025
The subsidiaries of BT Group are managed under a unitary system, with each having a
Board of Directors appointed by the General Meeting of Shareholders or Members, as
applicable. For each subsidiary, executive powers have been delegated to one or more
executive officers, scaled according to the scope of each company’s operations and the
specific characteristics of each company.
The company’s supreme governing body is the General Meeting of Shareholders or
Members, which determines its strategy based on key development directions, as recorded
for each entity within the scope of consolidation.
Management structures are responsible for overseeing the business conduct of each
subsidiary, ensuring the integration of ethical standards, compliance frameworks, and
governance principles at all operational levels. Key responsibilities include establishing and
updating ethical standards and policies, aligning them with the Group’s Code of Conduct,
anti-corruption policies, and fair competition policies, as well as overseeing compliance
with regulations and industry practices in areas such as AML, anti-bribery, and data privacy.
Each entity operates under the supervision of the ASF, the NBR, or equivalent bodies in
other countries, adapting the Group’s standards to sector-specific regulations.
Management monitors the effectiveness of internal controls and whistleblowing
mechanisms, addressing misconduct. They are also responsible for integrating ESG factors
into decision-making processes, extending the Sustainability Policy across the entire
group.
Business conduct is overseen through a two-tiered system: the General Shareholders’
Meeting who sets out the strategic direction, while the subsidiary’s management,
composed of experts with diverse qualifications, ensures its implementation. The Group
proactively addresses challenges through its Policy on the Suitability Assessment of
Management Board Members and Group-Level Evaluation.
At the level of each subsidiary of the Group, robust mechanisms for employee
representation and social dialogue have been established. Each company has a collective
bargaining agreement, negotiated with elected employee representatives for a two-year
term. Employee representatives, elected every two years, play a crucial role in negotiating
collective agreements, ensuring fair working conditions, fair wages, and workplace safety.
Starting in 2025, the Group’s Sustainability Policy has been implemented at the subsidiary
level, adapted to the specific context of each entity. The Boards of Directors of the
subsidiaries monitor sustainability issues and oversee the companies’ operations. Advisory
291
Sustainability Statement 2024, Banca Transilvania Financial Group
committees, such as those for audit, risk management, and compensation, formulate
opinions on the identified impacts, risks, and opportunities.
To manage the complexity and novelty of these issues, the subsidiaries have developed
training programs for staff and management and have engaged specialized experts to
provide consulting on sustainability matters. Specific measures impacting sustainability are
outlined in the sections dedicated to each company.
Remuneration of Subsidiary Staff and Management
The Group’s primary objective regarding compensation is to uphold the principle of fairness,
considering business and risk strategies, corporate culture and values, long-term
institutional interests, and measures to mitigate conflicts of interest. The fundamental
principles of the Remuneration Policy include driving long-term performance, attracting and
retaining the best professionals, rewarding responsibility and professional track record, and
generating profit under sustainable and competitive conditions.
The Group ensures fair and competitive compensation, based on skills and performance,
with two components: fixed and variable. Fixed compensation reflects professional
experience and organizational responsibility, while variable compensation reflects
sustainable, risk-adjusted performance, subject to an annual review. The subsidiaries have
their own remuneration policies, tailored to the business, risk appetite, and complexity of
each company.
BT Microfinanțare IFN S.A. (BT Mic)
The management structure at BT Mic includes:
⟶ The supervisory body – the Board of Directors, consisting of 3 non-executive
members appointed by the General Meeting of Shareholders. The Board ensures the
administration and supervision of the Institution, in accordance with the
prerogatives set forth in the Articles of Incorporation and applicable legislation, and
⟶ Senior executive management, consisting of 3 executive members – the CEO, who
has coordination responsibilities regarding the overall operations, and the 2 Deputy
CEOs, who are directly responsible for distinct areas of the company’s operations,
depending on their respective areas of expertise and the company’s scope of
business.
The managers of the Non-Bank Financial Institution (the CEO and the Deputy CEOs)
must meet the specific requirements regarding qualifications, experience, and a good rep
ed by the legislation applicable to non-bank financial institutions. Their appointment is
made by the Board of Directors, and they must undergo the procedures prescribed by the
regulations of the National Bank of Romania.
292
Sustainability Statement 2024, Banca Transilvania Financial Group
Board of Directors
Member Name
Position
Member
Type
Nationality
Term of
Office
Relevance of experience to the
company’s industry, products, and
location
Tiberiu Moisă
Chairman of the
Board of
Directors
Non-
executive
Romanian
4 years
Relevant experience as per CV,
available here.
Luminița-Delia
Runcan
Member of the
Board of
Directors
Non-
Executive
Romanian
4 years
Over 25 years of experience in
banking management, risk
management, compliance, anti-fraud,
and treasury. She has coordinated
the areas of risk, compliance,
security, anti-fraud, credit risk
analysis, and internal control, playing
a central role in defining and
implementing risk strategies.
Cristina Sindile
Member
Non-
Executive
Romanian
4 years
CEO with over 22 years of experience
in the financial and banking sector,
specializing in strategic management,
risk management, and organizational
process optimization. He has led
complex microfinance projects and
coordinated critical operational areas.
He holds advanced degrees and has
completed programs that reinforce
his expertise.
Composition of the Board of Directors by gender and age
The Board of
Directors of BT MIC
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
1
33.3
1
33.3
2
66.7
>50 years
1
33.3
0
0
1
33.3
Total
1
66.7
1
33.3
3
100
⁙ ⁙ ⁙
0.67 is the gender diversity rate at the Board of Directors level.
Top Management
The company’s executive management (Directors) are appointed by the Board of Directors
and must meet the legal requirements. Namely, they must be approved by the NBR before
effectively assuming their duties. Pursuant to the relevant legal provisions, the Board of
Directors has mandated the Directors of the non-bank financial institution jointly and
293
Sustainability Statement 2024, Banca Transilvania Financial Group
severally (and, with certain exceptions, individually) to exercise the powers of organizing
and managing its operations.
Name
Position
Type of
Member
Nationality
Term of
Office
Relevance of experience to the company’s
industry, products, and location
Valentina
Alexandru
Deputy
Director
Executive
Romanian
4 years
Loan specialist with over 20 years of
experience in the financial sector.
Possesses skills in coordinating and
developing credit strategies and implementing
financial strategies for microenterprises.
Marian Ene
CEO
Executive
Romanian
4 years
CEO of the Business Division with over 20
years of experience in the financial and
banking sector. He possesses well-developed
skills in business, marketing, and PR, as well as
in coordinating the activities of the SME
department.
Dan Cojocaru
Deputy
Director
Executive
Romanian
4 years
Risk management specialist with over 19 years
of experience in the financial sector, gained in
banking institutions. His experience covers the
definition and implementation of the risk
management framework at the institutional
level, the development of control and
monitoring tools, and the coordination of
compliance and corporate governance
processes.
Executive management structure, by gender and age
BT MIC’s executive
management
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
1
33.3
2
66.7
3
100
>50 years
0
0
0
0
0
0
Total
1
33.3
2
66.7
3
100
⁙ ⁙ ⁙
0.33 is the gender diversity rate at the executive management level.
Business conduct rules have been defined and implemented by management to reflect the
institution’s values, integrity, and compliance with legal requirements. BT Microfinance’s
ESG strategy integrates ESG principles into lending and corporate practices, promoting
financial inclusion, entrepreneurship, and sustainability. ESG performance is monitored
continuously, and the Institutional Development and Business Development Support
Departments are responsible for implementing lending products and developing digital
tools.
Company executives monitor impacts, risks, and opportunities, reporting quarterly to the
Board of Directors. The General Shareholders’ Meeting and the Board of Directors define
the principles for conducting business in a prudent manner, ensuring an optimal internal
294
Sustainability Statement 2024, Banca Transilvania Financial Group
control system. Staff receive ongoing training, and one employee has been nominated for
training in the ESG field.
OCN Microinvest SRL
The management structure at OCN Microinvest includes:
⟶ Supervisory Body – the Company’s Board, composed of members appointed by the
General Meeting of Shareholders. The Board establishes the strategy, approves
primary Internal Rules of Procedure, monitors the activities of the executive body
and internal divisions, and ensures the prudent management and oversight of the
company’s risks, and
⟶ Executive Management – the Administrator (General Director)*.
*In accordance with the Regulations on the Management Framework, the institution’s executive body is referred to as the
“Administrator (Executive Director)”
Board of Directors
Member Name
Position
Member
Type
Nationality
Term of
Office
Relevance of experience to the
company’s industry, products, and
location
Sabaz Mehmet
Murat
Member of the
Board of
Directors
Non-
executive
Turkish
1 year
Solid professional experience in the
banking sector, gained in environments
marked by rapid change and
organizational transformation. He is
results-oriented and collaborative, with
expertise in customer relationship
management, debt restructuring, risk
management, and business process
optimization. His work spans various
segments, including retail, corporate,
and SME, contributing to a deep
understanding of the different
dimensions of banking.
Since 2024: Member of the Board of
Directors of Victoriabank, serving on the
Risk Management Committee and the
Audit Committee;
2024–2025: Member of the Supervisory
Board of BCR Chișinău;
2018–2024: Member of the Board of
Directors of Victoriabank, Chair of the
Compensation Committee, and member
of the Risk Management Committee;
Since November 2025: Member of the
Board of OCN Microinvest SRL.
Luminița-Delia
Runcan
Member of the
Board of
Directors
non-
executive
Romanian
1 year
Over 25 years of experience in banking
management, risk management,
compliance, anti-fraud, and treasury.
She has coordinated the areas of risk,
compliance, security, anti-fraud, credit
295
Sustainability Statement 2024, Banca Transilvania Financial Group
risk analysis, and internal control, playing
a central role in defining and
implementing risk strategies.
Khanikyan
Levon
Member of the
Board of
Directors
non-
executive
Armenian
1 year
With over 20 years of experience in
financial and risk management. He
specializes in building and coordinating
diverse teams, with a solid academic
background, including an MBA in
international management and CFA
certification. His work in Romania and
Eastern Europe provides a practical
perspective on retail and SME banking,
treasury, and capital markets.
Sindile Cristina
Dalia
Member of the
Board of
Directors
non-
executive
Romanian
1 year
CEO with over 22 years of experience in
the financial and banking sector,
specializing in strategic management,
risk management, and organizational
process optimization. She has led
complex microfinance projects and
coordinated critical operational areas.
She holds advanced degrees and has
completed programs that reinforce her
expertise.
Composition of the Board of Directors by gender and age
Board of Directors of
OCN Microinvest
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
1
25
1
25
2
50
>50 years
1
25
1
25
2
50
Total
2
50
2
50
4
100
⁙ ⁙ ⁙
0.50 is the gender diversity rate on the Board of Directors.
Top Management
The Executive Director is the sole executive body, responsible for managing day-to-day
operations, implementing approved strategies, risk management, AML/CFT compliance,
and representing the Company in its dealings with third parties. He reports periodically to
the General Meeting of Shareholders and the Board and may delegate duties to subordinate
units.
296
Sustainability Statement 2024, Banca Transilvania Financial Group
Name
Position
Type of
Member
Nationality
Term of
Office
Relevance of experience to the industry,
products, and company location
Svinarenco
Dumitru
CEO
Executive
Moldovan
1 year
Executive with over 22 years of experience in
the banking and microfinance sector,
specializing in MSME lending, risk
management, and business development. He
has led Microinvest since 2015, with
responsibilities including strategy, coordination
of the company’s operations, implementation
of risk policies, and relations with regulatory
authorities and international financiers.
Executive management structure, by gender and age
Executive
management of BT
Microinvest
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
1
100
1
100
>50 years
0
0
0
0
0
0
Total
1
0
1
100
1
100
⁙ ⁙ ⁙
0 is the gender diversity rate at the executive management level.
Microinvest has committees dedicated to critical areas such as credit risk, operational risk,
financial risk, AML/CFT, fraud prevention, recovery, human resources, IT & projects, audit
follow-up, and the ESG Committee. These committees support the decisions of the Board
and the CEO, monitor risks, and approve corrective measures.
The ESG strategy is coordinated by the ESG Committee, which monitors the
implementation of ESG standards, assesses social and environmental impacts, analyzes
green loans, and approves measures to integrate ESG criteria into lending and risk
management.
Internal control is structured around independent functions (risk, legal compliance,
AML/CFT, operational risk, information security, and internal audit), and IT systems and
business continuity plans ensure stable, compliant, and responsible operations in line with
sustainability requirements.
BT Leasing Transilvania IFN S.A. (BT Leasing)
Given the completion of the merger by absorption with OTP Leasing România IFN S.A. on
December 1, 2024, and the integration process being fully completed, the information
presented for the year 2025 is reported exclusively from the perspective of the entity
resulting from the merger.
297
Sustainability Statement 2024, Banca Transilvania Financial Group
BT Leasing Transilvania IFN S.A. is managed under a unitary system: the Board of Directors
exercises supervisory functions, while day-to-day management is carried out by senior
executive management, consisting of at least two individuals. Directors and members of
management have a solid professional reputation and experience appropriate to the
company’s activities. The company complies with the prudential requirements of the
National Bank of Romania and notifies it of relevant changes regarding management
structures and governance, in accordance with applicable regulations.
The management structure at BT Leasing includes:
⟶ the supervisory body, the Board of Directors, consisting of 3 non-executive
members, and
⟶ senior executive management, consisting of 5 executive members, one with overall
coordination responsibilities for the company’s entire operations, and 4 of whom
directly oversee different areas of the company’s operations, depending on their
respective responsibilities and the company’s scope of business.
Board of Directors
Member
Name
Position
Member
Type
Nationality
Term of
Office
Relevance of experience to the industry,
products, and location of the company
Tiberiu Moisă
Chairman of the
Board of
Directors
Non-
executive
Romanian
4 years
Relevant experience as per CV, available
here.
Ioan Alin
Nistor
Member of the
Board of
Directors
non-
executive
Romanian
4 years
Relevant experience as per CV, available
here.
Daniel
Szeleky
Independent
Non-Executive
Member
Non-
Executive
Romanian
4 years
Executive Director of Corporate Business
with over 24 years of experience in the
financial and banking sector. Previously
held the position of SME & Microbusiness
Director, consolidating his expertise in
coordinating commercial activities for
clients classified as SMEs and Micro
Businesses, as well as monitoring aspects
related to their interaction with the
financial institution. He holds a university
degree and is a member of the Board of
Directors at ROCA X, Ebriza Software SRL,
BT Leasing, BT Mic, GapMinder VC, and
BT Club, the Romanian Entrepreneurs’
Club. He has also participated in
numerous training courses through which
he has strengthened his skills in
leadership and commercial strategy, risk
and portfolio management, corporate
governance, and customer relationship
management
298
Sustainability Statement 2024, Banca Transilvania Financial Group
Composition of the Board of Directors by gender and age
Board of Directors of
BT Leasing
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
2
66.7
2
66.7
>50 years
0
0
1
33.3
1
33.3
Total
0
0
3
100
3
100
⁙ ⁙ ⁙
0 is the gender diversity rate at the Board of Directors level.
Top Management
The company’s executive management (Directors) are appointed by the Board of Directors
and must meet the legal requirements. Namely, they must be approved by the NBR before
effectively assuming their duties. Pursuant to the relevant legal provisions, the Board of
Directors has mandated the Directors of the non-bank financial institution jointly and
severally (and, with certain exceptions, individually) to exercise the powers of organizing
and managing its operations.
Name
Position
Type of
Member
Nationality
Term of
Office
Relevance of experience to the industry, products,
and company location
Ionuț-Călin
Morar
CEO
Executive
Romanian
4 years
Over 25 years of experience in the leasing industry.
His professional career reflects a constant
commitment to the company’s strategic
development, coordination of lending and risk
management activities, implementation of
operational policies, and representation of the
company in its relations with institutional partners
and third parties.
Mihai
Nicolescu
Deputy
Director
Executive
Romanian
4 years
Deputy CEO of Finance with over 20 years of
experience in the financial sector. He is one of the
four executives at BT Leasing Transilvania. He has
expertise in coordinating and managing the
finance, accounting, and reporting departments.
Liviu-Onuț
Șerban
Deputy
Executive
Romanian
4 years
Deputy General Commercial Director with over 16
years of experience in lease financing. Possesses
expertise in coordinating and auditing the activities
of organizational structures, developing strategies
and policies for the company’s growth, and
analyzing economic indicators. Academic
background provides a solid foundation in financial
regulations.
Corina
Portase
Deputy
Director
Executive
Romanian
4 years
Deputy CEO for Risk and Compliance with over 24
years of experience in the field of lease financing.
He possesses expertise in representing the
company, ensuring and implementing its strategy
and development policy, overseeing risk
299
Sustainability Statement 2024, Banca Transilvania Financial Group
management, and coordinating the activities of
subordinate organizational units.
Pop Marian
Rodion
Deputy
Director
Executive
Romanian
4 years
Marian Rodion Pop has over 15 years of experience
in finance and operations, with expertise in leasing,
portfolio management, and the coordination of
organizational processes. Since 2018, he has
served as Chief Operations Officer at BT Leasing,
responsible for planning and managing external
funds, reporting to management and regulatory
authorities, managing environmental risks, and
digitizing operational processes.
Executive management structure by gender and age.
Executive
Management of BT
Leasing
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
1
20
4
80
5
100
>50 years
0
0
0
0
0
0
Total
1
20
4
80
5
100
⁙ ⁙ ⁙
0.20 is the gender diversity rate at the executive management level.
The responsibilities for monitoring and controlling sustainability impacts, risks, and
opportunities at BT Leasing are carried out by the Environmental Officer (Director of
Operations) and the CEO. The company maintains a well-trained workforce, with
professional development programs monitored monthly by the Board of Directors. The
Board is informed monthly about impacts, risks, opportunities, and the effectiveness of the
measures adopted. Risk analysis and information mapping are performed internally by the
Risk Department.
BT Pensii S.A.F.P.F. SA (BT Pensii)
The management structure at BT Pensii includes:
⟶ the supervisory body, the Board of Directors, consisting of 3 non-executive
members, and
⟶ senior executive management, consisting of 2 executive members, one with
coordination responsibilities for the company’s overall operations, and the other
directly overseeing various areas of the company’s operations, depending on their
respective responsibilities and the company’s scope of business.
Members of the management body (executive and non-executive) are subject to a fitness
assessment and prior approval by the Financial Supervisory Authority and may assume
their duties only after the FSA has issued its approval decision. The entity conducts its own
300
Sustainability Statement 2024, Banca Transilvania Financial Group
suitability assessment in advance and submits the necessary documentation to the
authority, in accordance with applicable regulations.
Board of Directors
Member
Name
Position
Member Type
Nationality
Term of
Office
Relevance of experience to the company’s
industry, products, and location
Aurel Bernat
Chairman of
the Board of
Directors
Non-
executive
Romanian
4 years
Executive Director of Financial Institutions and
International Relations with over 20 years of
experience in the financial and banking sector.
She has expertise in investment management,
investor relations, and international relations.
She holds a university degree, supplemented
by a Doctorate (PhD) in Management.
Anca-
Eugenia
Crăciun
Member of the
Board of
Directors
Non-
Executive
Romanian
4 years
Coordinating Director of Private, Premium
Banking, and Retail Products with over 26
years of experience in the financial and
banking sector. She possesses expertise in
establishing and expanding the Private
Banking network, as well as its specific
products, coordinating, maintaining, and
developing business relationships with
existing and potential clients, and promoting
and selling the Bank’s products.
Cosmin
Antoine
Constantin
Călin
Independent
Non-Executive
Member
Non-
Executive
Romanian
4 years
Executive Director of Large Corporate Clients
with over 24 years of experience in the
financial and banking sector. Expertise in
developing the portfolio of relationships with
large corporate clients, coordinating,
maintaining, and developing business
relationships with existing and potential
clients, as well as coordinating and organizing
numerous departments.
Composition of the Board of Directors by gender and age
Board of Directors of
BT Pensii
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
2
66.7
2
66.7
>50 years
1
33.30
0
0
1
33.30
Total
1
33.3
2
66.7
3
100
⁙ ⁙ ⁙
0.33 is the gender diversity rate at the Board of Directors level.
301
Sustainability Statement 2024, Banca Transilvania Financial Group
Top Management
Name
Position
Member
Type
Nationality
Term of
Office
Relevance of experience to the company’s
industry, products, and location
Dana Corina
Benea
Deputy
CEO
Executive
Romanian
4 years
Over 13 years of experience in private pension
administration. She holds dual degrees in
mechanical engineering and economics, which
combine analytical thinking regarding financial
processes and risk management.
Ionuț Florentin
Stroe
Chief
Executiv
e Officer
Executive
Romanian
4 years
Over 15 years of experience in the banking
sector and pension fund management. He has
expertise in coordinating marketing and sales
departments, as well as in promoting and
selling banking products. Also holds a college
degree that reinforces the skills acquired.
Executive management structure, by gender and age
Executive
management of BT
Pensii
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
1
50
1
50
>50 years
1
50
0
0
0
50
Total
1
50
1
50
2
100
⁙ ⁙ ⁙
0.50 is the gender diversity rate at the executive management level.
The Board of Directors oversees sustainability impacts, risks, and opportunities, while
effective management is carried out by the Directors. They may propose the establishment
of committees to manage critical issues. Employee programs are diverse, tailored to the
company’s needs and the employees’ potential.
The management structures, the Board of Directors and the Executive Directors, ensure an
adequate internal control framework. The Internal Audit Department establishes and
maintains an audit plan, assessing the effectiveness and adequacy of risk management,
internal control, investments, and marketing. Internal control and risk management
represent the second level of control, ensuring compliance with legal prudential obligations
and the management of sustainability issues.
302
Sustainability Statement 2024, Banca Transilvania Financial Group
BT Asset Management S.A.I. SA (BTAM)
The management structure at BT Asset Management includes:
⟶ the supervisory body, the Board of Directors, consisting of 3 non-executive
members, and
⟶ senior executive management, consisting of 3 executive members, one with
coordination responsibilities for the company’s overall operations, and 2 of whom
directly oversee different areas of the company’s operations, depending on their
respective responsibilities and the company’s scope of business.
Members of the management structure (executive and non-executive) are subject to a
suitability assessment and prior approval by the Financial Supervisory Authority, and the
exercise of their mandate is possible only after the FSA issues its approval decision. The
entity conducts its own suitability assessment and submits the necessary documentation
to the authority, in accordance with applicable regulations. Due to the complexity of the
company’s regulatory and operational framework, the Board of Directors is responsible for
overseeing sustainability-related impacts, risks, and opportunities pertaining to BTAM.
Board of Directors
Member Name
Position
Member
Type
Nationality
Length of
the
assignme
nt
Relevance of experience to the
industry, products, and company
location
Luminița-Delia
Runcan
Chair of the Board
of Directors
Non-
executive
Romanian
4 years
Over 25 years of experience in
banking management, risk
management, compliance, anti-fraud,
and treasury. She has coordinated
the areas of risk, compliance,
security, anti-fraud, credit risk
analysis, and internal control, playing
a central role in defining and
implementing risk strategies.
Aurel Bernat
Member of the
Board of Directors
Non-
Executive
Romanian
4 years
Executive Director of Financial
Institutions and International
Relations with over 20 years of
experience in the banking sector.
Possesses solid expertise in
investment management, investor
relations, and international relations.
Holds a higher education degree,
complemented by a PhD in
management.
Oana Ilaș
Member of the
Board of Directors
Non-
Executive
Romanian
4 years
Relevant experience as per CV,
available here.
303
Sustainability Statement 2024, Banca Transilvania Financial Group
Composition of the Board of Directors, by gender and age
BTAM Board of
Directors
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
1
33.3
1
33.3
2
66.7
>50 years
1
33.3
0
0
1
33.3
Total
2
66.7
1
33.3
3
100
⁙ ⁙ ⁙
0.67 is the gender diversity rate at the Board of Directors level.
Top Management
Name
Position
Member
Type
Nationality
Term of
Office
Relevance of experience to the industry, products,
and company location
Dan Dascăl
Chief
Executive
Officer
Executive
Romanian
4 years
Chief Executive Officer with over 25 years of
experience in the capital markets. He joined the
Banca Transilvania Group in 2002, overseeing
asset analysis and management activities. He has
expertise in portfolio management, financial
analysis, and fund management.
Călin
Condor
Deputy
CEO
Executive
Romanian
4 years
Deputy CEO with over 29 years of experience
within the Banca Transilvania Group and in the
financial sector. He also holds two postgraduate
degrees in Business Administration and Banking
and Capital Markets.
Irimiea
Victor Tudor
Deputy
CEO
Executive
Romanian
4 years
Tudor Irimiea has over 15 years of experience in the
capital markets, investments, and commercial
management. Since 2022, he has been
coordinating marketing and sales activities at BT
Asset Management, with responsibilities in
developing the commercial strategy and increasing
market share.
Executive management structure, by gender and age
BTAM’s executive
management
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
1
33.3
1
33.3
>50 years
0
0
2
66.7
2
66.7
Total
0
0
3
100
3
100
⁙ ⁙ ⁙
0 is the gender diversity rate at the executive management level.
304
Sustainability Statement 2024, Banca Transilvania Financial Group
The Board of Directors sets the company’s development directions, and the executive
management implements the measures decided upon. BTAM’s governance system ensures
proper, efficient, and prudent management in accordance with legal regulations. The
organizational structure is designed to best serve the interests of the investors in the
managed funds.
Internal control lines include risk management and compliance, and control at the parent
company level verifies adherence to Group standards. The availability of the skills
necessary for sustainability oversight is valued at all hierarchical levels. Management
structures promote diversity and ensure continuous professional development, adhering to
principles of ethics and conduct.
The compensation policy is reviewed by the Compensation and Nomination Committee and
approved by the Board of Directors. The General Shareholders’ Meeting provides strategic
leadership, setting organizational objectives and allocating the necessary resources. The
principles of conduct include moral integrity, professionalism, transparency, compliance
with the law, confidentiality, prevention of corruption, social responsibility, and avoidance
of conflicts of interest.
BT Capital Partners S.A. (BTCP)
The management structure at BT Capital Partners includes:
• the supervisory body, the Board of Directors, consisting of 3 non-executive
members, and
• senior executive management, consisting of 4 executive members, one with
coordination responsibilities for the company’s overall operations, and 3 of whom
directly oversee different areas of the company’s operations, depending on their
respective responsibilities and the company’s scope of business.
The entire management of the entity, whether executive or non-executive, must be
authorized by the ASF. Thus, regardless of the body appointing the members of the
management team (the general meeting of shareholders or the board of directors), each of
them must pass the suitability assessment conducted by the authority before assuming
their mandate.
305
Sustainability Statement 2024, Banca Transilvania Financial Group
Board of Directors
Member Name
Position
Member
Type
Nationality
Term of
Office
Relevance of experience to the
company’s industry, products,
and location
Costel
Lionăchescu
Chairman of the
Board of
Directors
Non-
executive
Romanian
4 years
Over 25 years of experience in
the financial, banking, and
investment sectors, with a solid
track record in the management
and administration of financial
institutions. He has held top
management positions, with
expertise in corporate
governance, strategy, financial
restructuring, and investor
relations. His work spans both
the banking sector and the
capital markets.
Ömer Tetik
Member of the
Board of
Directors
non-
executive
Romanian
4 years
Relevant experience as per CV,
available here.
Leontin Toderici
Member of the
Board of
Directors
Non-
executive
Romanian
4 years
Relevant experience as per CV,
available here
Composition of the Board of Directors by gender and age
The Board of
Directors of BTCP
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
0
0
0
0
>50 years
0
0
3
100
3
100
Total
0
0
3
100
3
100
⁙ ⁙ ⁙
0 is the gender diversity rate at the Board of Directors level.
Top Management
Name
Position
Member
Type
Nationality
Term of
Office
Relevance of experience to the
company’s industry, products,
and location
Daniela Secară
CEO
Executive
Romanian
4 years
Relevant experience as per CV,
available here.
Mihai Milchiș
Deputy CEO
Executive
Romanian
4 years
Deputy CEO for Finance, has over
19 years of experience in the
capital market. She has been a tax
consultant since 2007 and is a
member of the Chamber of Tax
306
Sustainability Statement 2024, Banca Transilvania Financial Group
Consultants, holding a bachelor’s
degree in economics from Babeș-
Bolyai University, specializing in
Business Management.
Mirela-Lenuța
Buduroiu
Deputy CEO
Executive
Romanian
4 years
Deputy CEO for Risk, has 20 years
of experience in the capital
market, holding leadership and
risk management positions at
BTCP and SSIF Target Capital. She
holds multiple certifications in
financial risk and has a bachelor’s
degree in economics from the
Bucharest Academy of Economic
Studies (ASE), specializing in
Economic Planning and
Cybernetics.
Vlad Pintilie
Deputy CEO
Executive
Romanian
4 years
Deputy CEO of Trading, has over
14 years of experience in the
capital market, having held
management and financial
analysis positions at BTCP and
NBG Securities, and holds
degrees from ASE, City University,
and the Bucharest International
School of Management.
Executive management structure, by gender and age
BTCP Executive
Management
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
1
25
2
50
3
75
>50 years
1
25
0
0
1
25
Total
2
50
2
50
4
100
⁙ ⁙ ⁙
0.5 is the gender diversity rate at the executive management level.
The Board of Directors implements the company’s strategy approved by the general
meeting, and executive management implements the necessary measures. Oversight of
sustainability impacts, risks, and opportunities is ensured by the Board of Directors and
advisory committees. BTCP collaborates with the ESG Integration & IR Department to
update the internal framework and appoints a sustainability officer who participates in
ongoing training programs.
307
Sustainability Statement 2024, Banca Transilvania Financial Group
Compensation policies do not create incentives that favor self-interest at the expense of
clients. BTCP develops sustainability policies and procedures, integrating sustainability
risks and issues into day-to-day operations. Sustainability information is published on its
website to inform investors.
BTCP analyzes the quality of ESG information from issuers to assess and monitor the
environmental and social characteristics of investments. It periodically reassesses the
situation and intends to consider the negative effects of investment decisions on
sustainability factors. The findings of the risk assessment are integrated into new
procedures and policies. Information is provided during executive management meetings
whenever necessary.
BT Direct IFN S.A. (BT Direct)
The management structure at BT Direct includes:
⟶ the supervisory body, the Board of Directors, consisting of 3 non-executive
members, and
⟶ senior executive management, consisting of 3 executive members.
Board of Directors
Member
Name
Position
Member type
Nationality
Term of
Office
Relevance of experience to the
company’s industry, products,
and location
Gabriela
Nistor
Chair of the
Board of
Directors
Non-executive
Romanian
4 years
Gabriela Nistor has nearly 30
years of experience in the banking
sector, holding key roles in the
development and digitalisation of
Banca Transilvania, as well as in
the transformation of Idea::Bank
into Salt Bank, a project she led
between 2022 and 2025. Her
professional activity is
distinguished by strategic
leadership, the development of
banking products, and the
implementation of major digital
modernisation initiatives.
Florentina
Virginia
Mircea
Member of the
Board of
Directors
Independent
non-executive
Romanian
4 years
With over 21 years of experience
in the financial sector, having held
leadership positions such as
Executive Director at TBI Bank
EAD Sofia for 9 years and
country-level executive roles at
TBIF Financial Services for over 14
years, with expertise in banking
management, strategic planning,
and business development
Oana Ilaș
Member of the
Board of
Directors
Independent
Non-Executive
Romanian
4 years
Relevant experience as per CV,
available here.
308
Sustainability Statement 2024, Banca Transilvania Financial Group
⁙ ⁙ ⁙
0.67% of the members of the Board of Directors are independent.
Composition of the Board of Directors by gender and age
The Board of
Directors of BT Direct
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
1
33.3
0
0
1
33.3
>50 years
2
66.7
0
0
2
66.7
Total
3
100
0
0
3
100
⁙ ⁙ ⁙
0 is the gender diversity rate at the Board of Directors level
Top Management
Members of the company’s management with executive responsibilities (Directors),
appointed by decision of the Board of Directors from among its directors, are subject to
prior approval by the National Bank of Romania, for the purpose of confirming the
competence and integrity necessary to exercise leadership and management
responsibilities in the provision of payment services. This procedure supports BT Direct’s
commitment to sound principles of governance, transparency, and compliance,
contributing to the maintenance of a secure, ethical, and regulatory-compliant operational
framework.
Name
Position
Member
Type
Nationality
Term of
Office
Relevance of experience to the company’s
industry, products, and location
Nicoleta Bott
CEO
Executive
Romanian
4 years
With over 21 years of experience in the
financial industry, progressing from
operational and back-office roles to top
management positions, she is currently CEO
at BT Direct IFN SA, with expertise in
operational, administrative, and strategic
management.
Gabriel Gogu
Deputy
CEO
Executive
Romanian
4 years
With over 29 years of experience in financial
management and risk management, he has
held strategic leadership positions in the
banking and financial sector. Currently,
Deputy CEO for Risk at BT Direct IFN SA,
where she coordinates the company’s risk
management divisions. For 16 years, she
served as CEO of BT Direct and CEO at
RALFI S.A.
Iuliana Puhalschi
Deputy
CEO
Executive
Romanian
4 years
Deputy CEO, Finance, with over 19 years of
experience in the financial and economic
309
Sustainability Statement 2024, Banca Transilvania Financial Group
sector. Expertise in managing tax-related
activities and ensuring timely reporting to
the relevant authorities, maintaining contact
with other financial institutions, coordinating
internal and external audits and tax
inspections, economic strategy, and process
optimization. In her current position, she
oversees the finance, reporting, and data
management departments. She holds a
bachelor’s degree in economics,
supplemented by a master’s degree and an
Executive MBA. She is also a member of
ACCA and CECCAR.
Executive management structure, by gender and age
BT Direct’s executive
management
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
2
66.7
0
0
2
66.7
>50 years
0
0
1
33.3
1
33.3
Total
2
66.7
1
33.3
3
100
⁙ ⁙ ⁙
0.67 is the gender diversity rate at the executive management level
BT Direct’s customer portfolio focuses on individuals, including personal loans and card
products, in line with the company’s business scope and operational structure . At the
organizational level, BTD has a dedicated sustainability role, the ESG Governance and Risk
Specialist, who works within the Risk Control and Management Division, reporting to the
Deputy CEO for Risk, with responsibilities for analyzing/monitoring risks and coordinating
internal/external/BT Group reporting in the ESG area.
The Board of Directors sets the objectives/strategy, approves the risk management
framework, and exercises oversight over executive management, with the ability to
delegate responsibilities within legal limits. The Risk Management Committee advises the
Board of Directors on strategy and risk appetite, oversees implementation, develops
procedures, and reports to the Board at least quarterly. Its scope also includes
sustainability risks.
Internal audit is conducted internally or through the parent company’s specialized
department, in accordance with applicable regulations.
Currently, sustainability risks are considered insignificant, given the nature of the business
(loans to individuals in Romania) and the operational profile. BTD monitors climate risks
310
Sustainability Statement 2024, Banca Transilvania Financial Group
(physical/transition) and aligns with the Group’s policies. BTD contributes to the Group’s
consolidated reporting (including carbon footprint, Scope 1/2/3).
Improvement Credit Collection S.R.L. (ICC)
Board of Directors
Name
Position
Member
Type
Nationality
Term of Office
Relevance of experience to
the company’s industry,
products, and location
Bogdan
Pleșuvescu
Chairman of the
Board of
Directors
Non-
executive
Romanian
4 years
Relevant experience as per
CV, available here.
Luminița-Delia
Runcan
Member of the
Board of
Directors
Non-
executive
Romanian
4 years
Over 25 years of
experience in banking
management, risk
management, compliance,
anti-fraud, and treasury.
She has coordinated the
areas of risk, compliance,
security, anti-fraud, credit
risk analysis, and internal
control, playing a central
role in defining and
implementing risk
strategies
George
Călinescu
Member of the
Board of
Directors
Non-
Executive
Romanian
4 years
Relevant experience as per
CV, available here
Composition of the Board of Directors, by gender and age
ICC Board of
Directors
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
2
66.7
2
66.7
>50 years
1
33.3
0
0
1
33.3
Total
1
33.3
2
66.7
3
100
⁙ ⁙ ⁙
0.33 is the gender diversity rate on the Board of Directors
Top Management
Name
Position
Membe
r Type
Nationality
Term of
Office
Relevance of experience to the
company’s industry, products,
and location
Paul Țupa
Chief
Executive
Officer
Executiv
e
Romanian
4 years
27 years of experience in the
financial and banking sector.
311
Sustainability Statement 2024, Banca Transilvania Financial Group
Ștefan-Dan
Dragomir
Deputy CEO
Executiv
e
Romanian
4 years
24 years of experience in the
financial and banking sector.
Executive management structure, by gender and age
ICC Executive
Management
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
1
50
1
50
>50 years
0
0
1
50
1
50
Total
0
0
2
100
2
100
⁙ ⁙ ⁙
0 is the gender diversity rate at the executive management level.
The Board of Directors oversees and manages the company’s operations, while day-to-day
management is delegated to the Chief Executive Officer and the Deputy Chief Executive
Officer. The Board of Directors meets at least once a month, and executive management
ensures the reporting and communication framework necessary for the implementation of
approved strategies and policies.The main aspects of the company’s risk management and
internal control framework are represented by the three-line control system, operational
risk management, the compliance and internal audit functions, and anti-fraud and
information security activities, supplemented by the in udit function organized at the BT
Group level. The assessment and monitoring of these risks and related controls are carried
out at all organizational levels, in accordance with the internal procedural framework.
ICC applies a compensation policy aligned with the business strategy and prudent risk
management, without encouraging excessive risk-taking. The principles include long-term
performance, attraction and retention, accountability, professional track record,
profitability, transparency, and customer interests. Variable remuneration is granted based
on individual and collective performance, taking into account the risks assumed and the
company’s results. Independent control functions receive predominantly fixed
remuneration. The roles and responsibilities of the Board of Directors and the Chief
Executive Officer include approving, monitoring, and verifying the sustainability of the
variable remuneration package from a prudential perspective.
With regard to business conduct, the provisions of the Code of Ethics and Conduct
applicable at the BT Group level are applicable within ICC. Additionally, the Procedure on
Know Your Customer, the Prevention and Combating of Money Laundering and Terrorist
Financing, as well as the Fraud Risk Management Policy, apply. ICC employees participate
in regular training sessions organized by the BT Academy.
312
Sustainability Statement 2024, Banca Transilvania Financial Group
BT Leasing Moldova S.R.L. (BT Leasing MD)
The management structure at BT Leasing Moldova includes:
• The governing body with supervisory functions is the General Meeting of
Shareholders, which manages the company through the Board of Directors,
consisting of 4 non-executive members;
• Senior executive management is provided by the administrator, the General Director,
who serves as the sole executive body and coordinates the company’s entire
operations.
Board of Directors
Name
Position
Member
Type
Nationality
Term of
Office
Relevance of experience to the
company’s industry, products, and
location
Bogdan
Pleșuvescu
Chairman of
the Board of
Directors
Non-
executive
Romanian
4 years
Relevant experience as per CV,
available here.
Ionuț-Călin
Morar
Member of the
Board of
Directors
Non-
executive
Romanian
4 years
Over 25 years of experience in the
leasing sector Her professional career
reflects a consistent commitment to
the company’s strategic development,
the coordination of credit and risk
management activities, the
implementation of operational policies,
and the representation of the company
in its relations with institutional
partners and third parties.
Composition of the Board of Directors by gender and age
Board of Directors of
BT Leasing MD
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
0
100
2
100
>50 years
0
0
0
0
0
0
Total
0
0
0
100
2
100
⁙ ⁙ ⁙
0 is the gender diversity rate at the Board of Directors level.
313
Sustainability Statement 2024, Banca Transilvania Financial Group
Top Management
Name
Position
Member
type
Nationality
Term of office
Relevance of experience to
the industry, products, and
company location
Marius-Călin
Crăciunaș
Chief Executive
Officer
Executive
Romanian
indefinite
More than 20 years of
experience in the financial
and banking sector.
Given that executive responsibilities are assigned to a single person, the diversity indicators
applicable to the management body are not relevant to the current governance structure.
The management structure of O.C.N. BT Leasing MD S.R.L. provides a solid framework for
administration and supervision, which supports the institution’s vision of operating in a
prudent, responsible, and efficient manner. Through the clear distribution of decision-
making roles and robust internal control mechanisms, management ensures the necessary
conditions for the integration of sustainable governance and for conducting business in
accordance with the principles of transparency, compliance, and long-term development.
BT Broker de Asigurări S.R.L. (BT Broker)
The management structure at BT Broker de Asigurări SRL includes:
⟶ the supervisory body, the Board of Directors, consisting of 3 non-executive
members, and
⟶ senior executive management, exercised by the CEO (authorized by the ASF) and
the Deputy CEO, as well as by division and department heads, within the limits of
their delegated authority.
At the same time, the management structure is responsible for identifying, assessing, and
managing the significant risks associated with the company’s operations, ensuring a robust
internal control framework that complies with ASF requirements, so that strategic and
operational decisions are made in a prudent and well-founded manner.
Board of Directors
Name
Position
Member Type
Nationality
Term of
Office
Relevance of experience to the
company’s industry, products, and
location
Bogdan
Pleșuvescu
Chairman of the
Board of
Directors
Non-executive
Romanian
4 years
Relevant experience as per CV,
available here.
Luminița-Delia
Runcan
Member of the
Board of
Directors
Non-executive
Romanian
4 years
Over 25 years of experience in
banking management, risk
management, compliance, anti-
fraud, and treasury. She has
coordinated the areas of risk,
compliance, security, anti-fraud,
credit risk analysis, and internal
control, playing a central role in
314
Sustainability Statement 2024, Banca Transilvania Financial Group
defining and implementing risk
strategies.
Ionuț-Călin
Morar
Member of the
Board of
Directors
Non-Executive
Romanian
4 years
Over 25 years of experience in the
leasing sector. Her professional
career reflects a consistent
commitment to the company’s
strategic development,
coordination of lending and risk
management activities,
implementation of operational
policies, and representation of the
company in relations with
institutional partners and third
parties.
Board of Directors Structure, by Gender and Age
Executive
Management of BT
Broker de Asigurare
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
2
66.7
2
66.7
>50 years
1
33.3
0
0
1
33.3
Total
1
33.3
2
66.7
3
100
⁙ ⁙ ⁙
0.33 is the gender diversity rate at the Board of Directors level
Top Management
Name
Position
Member
type
Nationality
Term of Office
Relevance of experience to the company’s
industry, products, and location
Coroiu
Valentin
CEO
Executive
Romanian
4 years
Over 20 years of experience in the
insurance industry, holding leadership
roles throughout his career. He has
coordinated sales, underwriting, claims,
operations, risk, compliance, and internal
control activities, with extensive expertise
in strategic and operational management.
Laura Cheșa
Deputy
CEO
Executive
Romanian
4 years
Over 25 years of experience in the
insurance sector. Skilled in negotiating
employment contracts, developing the
insurance portfolio, as well as in
cooperating with insurance companies and
preparing reports for auditors and
shareholders.
⁙ ⁙ ⁙
0.50 is the gender diversity rate at the executive management level.
315
Sustainability Statement 2024, Banca Transilvania Financial Group
Salt Bank
The management structure at Salt Bank includes:
⟶ The Board of Directors, which sets Salt Bank’s strategic direction and oversees the
implementation of policies, including those related to sustainability. The Board
ensures that the bank operates within a robust governance framework, with
transparent and e e processes, effective internal controls, and responsible risk
management, including ESG risks.
⟶ The Executive Management Committee, the bank’s executive body, consists of the
CEO and Deputy CEOs.
Board of Directors
Name
Position
Type of
Member
Nationality
Term of
Office
Relevance of experience to the
company’s industry, products,
and location
Ivo
Gueorguiev
Chairman of the
Board of
Directors
Independent
non-executive
Bulgarian,
British
4 years
Relevant experience as per CV,
available here
Costel
Lionachescu
Member of the
Board of
Directors
Independent
non-executive
Romanian
4 years
Over 25 years of experience in
the financial, banking, and
investment sectors, with a solid
track record in the management
and administration of financial
institutions. He has held top
management roles, with
expertise in corporate
governance, strategy, financial
restructuring, and investor
relations. His work spans both
the banking sector and the
capital markets.
Ömer Tetik
Member of the
Board of
Directors
Non-executive
Romanian
4 years
Relevant experience as per CV,
available here
Gabriela
Nistor
Member of the
Board of
Directors
Non-Executive
Romanian
4 years
Gabriela Nistor has nearly 30 years
of experience in the banking sector,
holding key roles in the
development and digitalisation of
Banca Transilvania, as well as in the
transformation of Idea::Bank into
Salt Bank, a project she led
between 2022 and 2025. Her
professional activity is
distinguished by strategic
leadership, the development of
banking products, and the
implementation of major digital
modernisation initiatives.
316
Sustainability Statement 2024, Banca Transilvania Financial Group
Luminița-Delia
Runcan
Member of the
Board of
Directors
Non-Executive
Romanian
4 years
Over 25 years of experience in
banking management, risk
management, compliance, anti-
fraud, and treasury. She has
coordinated the areas of risk,
compliance, security, anti-fraud,
credit risk analysis, and internal
control, playing a central role in
defining and implementing risk
strategies
⁙ ⁙ ⁙
40% of the members of the Board of Directors are independent.
Composition of the Board of Directors by gender and age
Salt Bank Board of
Directors
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
0
0
0
0
>50 years
2
40
3
60
5
100
Total
2
40
3
60
5
100
⁙ ⁙ ⁙
0.4 is the gender diversity rate at the Board of Directors level.
The Steering Committee, the bank’s executive body, organizes and coordinates day-to-
day operations, implementing the strategy approved by the Board of Directors. The
Stearing Committee integrates ESG principles into operational processes, risk
management, organizational culture, and the development of products and services.
Steering Committee
Name
Position
Member
Type
Nationality
Term
Relevance of experience to the company’s
industry, products, and location
Gabriela Nistor
CEO
Executive
Romanian
3 years
Gabriela Nistor has nearly 30 years of
experience in the banking sector, holding
key roles in the development and
digitalisation of Banca Transilvania, as well
as in the transformation of Idea::Bank into
Salt Bank, a project she led between 2022
and 2025. Her professional activity is
distinguished by strategic leadership, the
development of banking products, and the
implementation of major digital
modernisation initiatives.
Sorin Dumitrescu
Deputy
CEO
Executive
Romanian
4 years
Sorin Dumitrescu has over 20 years of
experience in the banking sector,
317
Sustainability Statement 2024, Banca Transilvania Financial Group
specializing in risk management, internal
control, and the coordination of operational
structures. He has held leadership
positions at institutions such as Credit
Europe Bank and Techventures Bank,
directly managing areas such as risk
management, compliance, anti-fraud,
lending, and legal affairs.
Sinan Kircali
Deputy
CEO
Executive
Turkish
4 years
Sinan Kircali has over 30 years of
experience in the banking sector, having
held leadership roles in operations, risk, IT,
and support functions. He has held
executive positions in Romania, Turkey,
Bulgaria, and Malta, where he was
responsible for coordinating operational
activities, implementing business and IT
strategies, and managing post-merger
processes.
Robert Anghel
Deputy
CEO
Executive
Romanian
4 years
Robert Mihai Anghel has over 20 years of
industry experience, with solid expertise in
strategy, digitalization, and banking
product development. He has led major
digital transformation projects
internationally. His experience spans
business strategy, digital channel
development, and business process
optimization.
Vikram Tikoo
Deputy
CEO
Executive
British
4 years
Over 20 years of international experience
in technology, digital transformation, and
the management of global payment
platforms. He has held senior management
roles at corporations such as Fiserv and
American Express. He has led technology
modernization strategies, product
development, and compliance programs
across more than 20 international markets.
Board of Directors composition by gender and age
Board of
Directors of
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
3
60
3
60
>50 years
1
20
1
20
2
40
Total
1
20
4
80
5
100
⁙ ⁙ ⁙
0.20 is the gender diversity rate at the Board of Directors level.
318
Sustainability Statement 2024, Banca Transilvania Financial Group
Through its organizational structure, Salt Bank consistently integrates ESG principles into
all critical management functions. The independent control functions, Risk Management,
Compliance, and Internal Audit, play an essential role in the Governance component,
ensuring a robust framework for oversight, assessment, and reporting. These structures
monitor relevant risks (compliance, reputational, legal, conduct, ESG, and ICT - IT &
Communications), assess the effectiveness of internal processes, and ensure compliance
with European and national regulations.
Together, the oversight exercised by the Board of Directors, the coordination of the
Steering Committee, and the work of independent and specialized functions create a
modern, ethical, and sustainability-oriented governance ecosystem that promotes
transparency, accountability, and alignment with European best practices in the ESG field.
Victoriabank
Governance Structures at Victoriabank
At Victoriabank, the General Meeting of Shareholders (GMS) is the Bank’s supreme
authority. Resolutions adopted by the GMS are binding on all shareholders and the Bank’s
management bodies.
The organization, operation, and powers of the GMS are established by the Law on Joint-
Stock Companies, the Bank’s Articles of Association, and the Regulations of the General
Meeting of Shareholders.
The Bank’s management bodies are: the Board of Directors (BoD) and the Executive
Committee (EC).
The Board of Directors (BoD) is the governing body responsible for overseeing and
monitoring the decision-making process and is accountable for the Bank’s overall
operations and financial soundness. The BoD oversees the activities of the executive body,
monitoring its actions to ensure they align with the Bank’s strategy and policies.
Members of the Board of Directors
Name
Position
Type of
Member
Nationality
Term of
Office
Relevance of experience to the industry,
products, and company location
Thomas
Grasse
Chairman of the
Board of Directors
Non-executive,
independent
German
4 years
Relevant experience as per CV, available
here
Mehmet
Murat Sabaz
Member of the
Board of Directors
Non-executive,
independent
Turkish
4 years
Solid professional experience in the
banking sector, gained in environments
marked by rapid change and
organizational transformation. He is
results-oriented and collaborative, with
expertise in customer relationship
management, debt restructuring, risk
management, and business process
319
Sustainability Statement 2024, Banca Transilvania Financial Group
optimization. His work spans various
segments, including retail, corporate, and
SME, contributing to a strong
understanding of the different dimensions
of banking.
Since 2024: Member of the Board of
Directors of Victoriabank, serving on the
Risk Management Committee and the
Audit Committee;
2024–2025: Member of the Supervisory
Board of BCR Chișinău;
2018–2024: Member of the Board of
Directors of Victoriabank, Chair of the
Compensation Committee, and member of
the Risk Management Committee;
Since November 2025: Member of the
Board of OCN Microinvest SRL.
Tiberiu
Moisă
Member of the
Board of Directors
Non-Executive,
Romanian
4 years
Relevant experience, as per CV available
here
Peter
Franklin
Morris
Member of the
Board of Directors
Non-executive,
independent
British
4 years
Peter Franklin has over 40 years of
experience in the financial services
industry, with solid expertise in corporate
and retail banking. Throughout his career,
he has held key positions in corporate
treasury, finance, and client relationship
management at renowned institutions
such as HSBC, Chase Manhattan, ANZ,
and General Electric. He has also served
on supervisory boards and executive
committees, contributing to the strategic
development of the organizations in which
he has been involved.
Ludmila
Costin
Member of the
Board of Directors
Non-Executive,
Independent
Moldovan
4 years
Ludmila Costin is a professional with over
24 years of experience in the insurance
and consulting sectors, possessing solid
expertise in the business environments of
Moldova and Romania. Her career includes
leadership roles at companies such as
PwC and Grant Thornton, as well as work
as an independent consultant. She
specializes in compliance with financial
crime regulations, internal control, and risk
management.
Turcan
Victor
Member of the
Board of Directors
Non-Executive
Moldovan
4 years
Founder of BC “Victoriabank” S.A., the first
commercial bank in the Republic of
Moldova. Over the years, he has held
several leadership positions within the
institution, actively contributing to its
development and consolidation. Following
Victoriabank’s integration into the BT
Financial Group in 2018, he was re-elected
as Chairman of the Board of Directors, a
position he held until January 2024.
August 2024: Member and Vice-Chairman
of the Board of Directors (approved by the
320
Sustainability Statement 2024, Banca Transilvania Financial Group
NBM in March 2025), Chairman of the
Nomination and Governance Committee;
1993 – January 2024: Various positions
within the Bank’s senior management,
including a long tenure as Chairman of the
Board of Directors.
Russell
Henry
Emanuel
Member of the
Board of Directors
Non-Executive
British
4 years
Extensive experience in the investment field,
with a career focused on Eastern Europe and
Asia. His work focuses on project financing,
lending, and equity investments in the private
and public sectors. He has held senior
positions at leading international financial
institutions.
Since August 2024: Elected member of the
Board of Directors of Victoriabank, subject to
approval by the National Bank of Moldova;
member of the Risk Management Committee
and the Nomination Committee;
2021–2025: Chair of the Investment Committee
and the Foreign Exchange Committee at the
European Fund for Southeast Europe;
2021–present: Member of the Supervisory
Board at Union Bank, Albania;
2010–2021: Director for the Western Balkans,
Belarus, Moldova, and Ukraine at the EBRD.
⁙ ⁙ ⁙
57% of the members of the Board of Directors are independent.
Composition of the Board of Directors by gender and age
Victoriabank Board of
Directors
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
1
14.3
1
14.3
>50 years
0
0
6
85.7
6
85.7
Total
0
0
7
100
7
100
⁙ ⁙ ⁙
0% is the gender diversity rate on the Board of Directors.
321
Sustainability Statement 2024, Banca Transilvania Financial Group
The Steering Committee is the Bank’s executive body, which organizes, directs, and is
responsible for day-to-day operations, manages the Bank’s activities efficiently and
prudently in accordance with the strategy and governance framework approved by the
Board of Directors, and exercises its powers under the Board’s supervision.
Members of the Steering Committee
Name
Position
Type of
Member
Nationality
Term
Relevance of experience to the industry,
products, and company location
Levon Khanikyan
President
Executive
Armenian
4 years
With over 20 years of experience in
financial and risk management. He
specializes in building and leading
diverse teams, backed by a strong
academic background, including an MBA
in International Management and CFA
certification. His work in Romania and
Eastern Europe provides a practical
perspective on retail and SME banking,
treasury, and capital markets. He has led
complex projects in the retail, SME,
corporate, and capital markets sectors,
contributing to the operational and
digital transformation of the institutions
with which he has collaborated. He
joined Victoriabank in 2023, playing a
key role in the bank’s strategic
development.
Donica Vasile
Vice President
Executive
Moldovan
4 years
An executive director with extensive
experience. During her tenure as an
executive director at Victoriabank, she
oversaw key business lines, including
retail, SMEs, and corporate banking.
Under her leadership, the bank saw
growth in loans, deposits, and market
share.
Elena-Ionela
Maloș
Vice President
Executive
Romanian
4 years
With experience in planning and
coordinating banking operations,
specializing in cash management, foreign
currency payments, and loan processing,
ensuring compliance with Internal Rules
of Procedure and financial legislation.
She is actively involved in the Bank’s
digital transformation, contributing to
projects such as Digital Onboarding, the
MIA service, and the mobile app update.
Since 2021, she has been coordinating
the Bank’s operations, making a
significant contribution to the
digitalization of processes.
Vitalie Corniciuc
Executive Vice
President
Executive
Moldovan
4 years
With expertise in auditing, IFRS 9, and
international auditing standards. At the
Bank, he oversees accounting, financial
reporting, budgeting, and financial
analysis activities. Her achievements
322
Sustainability Statement 2024, Banca Transilvania Financial Group
include the development and
implementation of a project to
restructure the financial and accounting
departments at CB Victoriabank SA,
aligning these functions with the Banca
Transilvania model.
Mircea Aursulesei
Executive Vice
President
Executive
Romanian
4 years
Since the beginning of his career at the
bank, Mircea Aursulesei has managed
the branch network, which includes 25
branches and 42 agencies. He has
experience in developing banking
products for retail and SME clients,
contributing to the improvement of
operations in these business segments.
He has experience in developing the
service network and banking products,
both in Romania and in the Republic of
Moldova.
Popa Bogdan-
Dumitru
Vice President
Executive
Romanian
4 years
Mr. Bogdan Popa has substantial
experience in risk management,
demonstrated through his work in
implementing and overseeing complex
frameworks such as Basel III, IFRS 9, and
operational risk assessment.
Composition of the Board of Directors by gender and age
Victoriabank’s Board
of Directors
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
1
16.7
5
83.3
6
100
>50 years
0
0
0
0
0
0
Total
1
16.7
5
83.3
6
100
⁙ ⁙ ⁙
16.7% is the gender diversity rate on the Board of Directors.
The Bank integrates sustainability principles into its operations through an ESG
Coordinator, who is responsible for coordinating environmental, social, and governance
initiatives across the entire organization. This person monitors the implementation of ESG
reporting requirements, supports the integration of sustainability criteria into operational
and risk management processes, and ensures collaboration with relevant internal
structures to align with regulatory standards and best practices in the field. ESG risk
analysis is also included in the lending process for corporate clients, with a dedicated
opinion issued to assess the potential impact on the bank and on transactions.
323
Sustainability Statement 2024, Banca Transilvania Financial Group
At the same time, operational sustainability is reinforced through the Bank’s control and
continuity mechanisms, such as the Business Continuity Committee, which manages the
Business Continuity Management System, and the Crisis Management Committee,
responsible for activating the recovery plan and coordinating necessary measures in
unforeseen situations. These structures contribute to maintaining operational resilience
and the Bank’s ability to respond effectively to risks and disruptive events.
INNO Investments
The management structure at INNO Investments SAI SA includes:
- the supervisory body, the Supervisory Board, consisting of 3 independent non-
executive members, and
- senior executive management, consisting of 3 executive members, one with
coordination responsibilities for the entire business, and 2 of these having direct
oversight of various areas of the company’s operations, depending on their
respective competencies and the company’s scope of business.
Members of the management structure (executive and non-executive) are subject to a
suitability assessment and prior approval by the Financial Supervisory Authority, and the
exercise of their mandate is possible only after the FSA issues its approval decision.
Members of the Supervisory Board
Name
Position
Member Type
Nationality
Term of
Office
Relevance of experience to the
company’s industry, products, and
location
Cătălin Ioan
Caragea
Chairman
Non-executive
Romanian
4 years
Relevant experience as per CV, available
here.
Diana Ioana
Mazurchievici
Member
Non-executive
Romanian
4 years
Over 15 years of solid experience in the
financial sector, with expertise in ESG,
sustainability reporting, investor relations,
and mergers and acquisitions. Held
leadership roles at Banca Transilvania and
previously in financial auditing, overseeing
non-financial reporting, complex due
diligence processes, and interactions with
institutional investors and regulatory
authorities.
Corina Elena Stoica
Member
Non-executive
Romanian
4 years
Over 20 years of experience in the
financial-banking sector and the capital
market, with solid expertise in private
banking, fund management, private
pensions, treasury, and investments. Her
expertise covers both strategic and
operational areas, as well as product
development, customer relationship
management, and market analysis.
324
Sustainability Statement 2024, Banca Transilvania Financial Group
Supervisory Board
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
1
33.33%
1
33.33%
2
66.67%
>50 years
1
33.33%
0
00
1
33.33%
Total
2
66.67%
1
33.33%
3
100%
⁙ ⁙ ⁙
66.67% is the gender diversity rate at the Supervisory Board level
Members of Senior Management
Name
Position
Member Type
Nationality
Term
Relevance of experience to the industry,
products, and company location
Vlad Teodor Micu
CEO &
President
Executive
Romanian
4 years
Over 25 years of experience in the banking
sector, with a focus on corporate banking,
investment banking, and distressed credit
management. He has held executive
leadership positions at major banking
institutions, coordinating financing,
reorganization, and remediation strategies
for corporate clients.
Adrian Anghel
Deputy CEO
Executive
Romanian
4 years
With over 18 years of experience in asset
management, Adrian has solid expertise in
fund sales. His professional career includes
approximately 18 years spent in various key
positions in capital markets and investor
relations, as well as in diversifying
distribution channels and developing the
product range, including their market
positioning. He is a graduate of the Faculty
of Finance, Insurance, Banking, and Stock
Exchanges at the Bucharest Academy of
Economic Studies.
Dragoș Gabriel
Manolescu
Deputy CEO
Executive
Romanian
4 years
Executive with in-depth knowledge
acquired through specialized programs in
the financial field, including CFA
certification and a master’s degree in
international project management from the
Bucharest Academy of Economic Studies.
Has approximately 18 years of professional
experience in the capital markets sector,
gained at several investment management
firms and banking institutions, with
expertise focused on fixed-income and
listed equity portfolios.
325
Sustainability Statement 2024, Banca Transilvania Financial Group
Senior Executive Management Structure, by Gender and Age
Executive Committee
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
2
66.67%
2
66.67%
>50 years
0
0
1
33.33%
1
33.33%
Total
0
0
3
100%
3
100.00%
⁙ ⁙ ⁙
0% is the gender diversity rate at the Senior Executive Management level.
BRD S.A.F.P.P. SA (BRD Pensii)
BRD Societate de Administrare a Fondurilor de Pensii Private S.A. was acquired by
Banca Transilvania and BT Investments S.R.L. on November 28, 2025
The management structure at BRD Pensii includes:
⟶ the supervisory body, the Board of Directors, consisting of 3 non-executive
members, and
⟶ the executive management, consisting of two executive members, one with
coordination responsibilities for the company’s overall operations, and the other
directly overseeing various areas of the company’s operations, depending on their
respective responsibilities and the company’s scope of business.
Members of the management structure (executive and non-executive) are subject to a
suitability assessment and prior approval by the Financial Supervisory Authority, and the
exercise of their mandate is possible only after the FSA issues its approval decision. The
entity conducts its own suitability assessment in advance and submits the necessary
documentation to the authority, in accordance with applicable regulations.
Board of Directors
Member
Name
Position
Member
Type
Nationality
Term of
Office
Relevance of experience to the company’s
industry, products, and location
Anca
Eugenia
Crăciun
Chair of the
Board of
Directors
Non-
executive
Romanian
4 years
Managing Director of Private, Premium
Banking, and Retail Products, with over 26
years of experience in the financial and
banking sector. He has expertise in
establishing and expanding the Private
Banking network and its specific products,
326
Sustainability Statement 2024, Banca Transilvania Financial Group
coordinating, maintaining, and developing
business relationships with existing and
potential clients, as well as promoting and
selling the Bank’s products.
Bogdan-
Lucian
Duma
Member of the
Board of
Directors
non-
executive
Romanian
4 years
Deputy Director of Corporate Governance and
Legal Affairs for Subsidiaries, with over 15
years of experience in the financial, banking,
and investment sectors. He possesses solid
expertise in coordinating corporate
governance at the group level, ensuring the
legal framework for subsidiaries, and managing
relations with regulatory authorities.
Mihai
Stelian
Rotaru
Member of the
Board of
Directors
Non-
Executive
Romanian
4 years
Head of the Legal Department, with over 18
years of experience in the financial and
banking legal field, both in credit institutions
and in complex transformation and M&A
projects. She possesses solid expertise in
coordinating corporate, retail, and litigation
legal structures, as well as in managing
strategic projects at the group level, and is
actively involved in the development of the
legal profession.
Composition of the Board of Directors by gender and age
BRD Pensii Board of
Directors
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
0
0
2
66.7
2
66.7
>50 years
1
33.3
0
0
0
0
Total
1
33.3
2
66.7
3
100
⁙ ⁙ ⁙
0.33 is the gender diversity rate at the Board of Directors level.
Top Management
Name
Position
Member
Type
Nationality
Term of
Office
Relevance of experience to the industry,
products, and company location
Corina
Mădălina
Cojocaru
CEO
Executive
Romanian
4 years
Over 18 years of experience in investment
management and private pension funds. She
possesses solid expertise in strategic
organizational leadership, implementing
governance and compliance frameworks, and
managing relationships with regulatory
authorities, leading complex transformation,
digitalization, and risk management processes.
Mihail-Dan
Nicu
Executive
Director
Executive
Romanian
4 years
Over 30 years of experience in investment
management, pension funds, and the capital
market. He has held top management positions
327
Sustainability Statement 2024, Banca Transilvania Financial Group
at SAI BRD Asset Management, including CEO
and Chairman of the Board of Directors,
overseeing investment, risk, accounting, and
treasury activities.
Executive management structure, by gender and age
Executive
management of BRD
Pensii
Women
Men
Total
No.
%
No.
%
No.
%
< 30
0
0
0
0
0
0
30–50 years
1
50
0
0
1
50
>50 years
0
0
1
50
1
50
Total
1
50
1
50
2
100
⁙ ⁙ ⁙
0.5 is the gender diversity rate at the executive management level.
The Board of Directors provides strategic leadership for the Company, continuously
assessing the impacts, risks, and opportunities associated with its operations. It
establishes development directions, major policies, and the governance framework,
ensuring the proper implementation of strategies, internal control systems, and risk and
compliance policies. Operational management is carried out by executive management,
which may propose the establishment of committees dedicated to critical issues,
contributing to efficient and prudent administration. Together, the management structures
ensure robust oversight, a transparent decision-making framework, and a risk management
system aligned with legal requirements and the Company’s long-term objectives.
328
Sustainability Statement 2024, Banca Transilvania Financial Group
ADDENDUM 4. KPIs Disclosed under Article 8 Taxonomy Regulation
Template 1:
Assets for the calculation of GAR (Turnover)
Disclosure reference date/period 31.12.2025
Stock/Flow
(Million EUR)
a
b
c
d
e
f
g
h
i
j
k
l
m
n
o
p
Total
[gross] carrying
amount
Of which
Taxonomy
eligible
Of which
Taxonomy
aligned
Breakdown per environmental objective
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Climate
Change Mitigation
CCM
Climate
Change
Adaptation
CCA
Water and
marine
resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity
and
Ecosystems
BIO
Non assessed
exposures
Of which
financing non
material activities
of counterparties
(1)
Of which
exposures
financing counter
parties reporting
in accordance
with Article 7(9)
Of which not
assessed
consid− ered
nonmaterial by
the credit
institution (2)
1
GAR – Covered assets in both numerator
and denominator
2
Loans and advances, debt securities and
equity instruments not HfT eligible for GAR
calculation
50,075.61
6,001.53
4,543.56
4,543.50
0.06
-
-
-
-
4,147.52
-
-
14,557.11
-
-
1,943.92
3
Financial undertakings
10,099.75
266.37
26.53
26.47
0.06
-
-
-
-
-
-
-
9,858.14
-
-
15.94
4
Loans and advances
7,572.97
250.23
18.46
18.44
0.02
-
-
-
-
-
-
-
7,554.51
-
-
15.05
5
Debt securities, including UoP
2,311.70
16.14
8.07
8.03
0.04
-
-
-
-
-
-
-
2,303.63
-
-
0.89
6
Equity instruments
215.08
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7
Non-financial undertakings
9,847.98
2,823.93
1,767.26
1,755.95
-
-
-
-
-
1,386.44
-
-
4,698.96
-
1,927.99
8
Loans and advances
9,769.34
2,773.59
1,767.26
1,755.95
-
-
-
-
-
1,386.44
-
-
4,698.96
-
1,927.99
9
Debt securities, including UoP
78.64
50.33
-
-
-
-
-
-
-
-
-
-
-
-
-
10
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
11
Households
27,819.94
2,911.24
2,761.08
2,761.08
-
-
2,761.08
-
-
-
-
-
12
of which loans collateralised by residential
immovable property
27,449.37
2,911.24
2,761.08
2,761.08
-
-
2,761.08
-
-
-
-
-
13
of which building renovation loans
-
-
-
-
-
-
-
-
-
-
-
14
of which motor vehicle loans
370.57
-
-
-
-
-
-
-
-
-
15
Local governments financing
2,307.94
-
-
-
-
-
-
-
-
-
-
-
-
-
-
16
Housing financing
-
-
-
-
-
-
-
-
-
-
-
17
Other local government financing
2,307.94
-
-
-
-
-
-
-
-
-
-
-
-
-
-
18
Collateral obtained by taking possession:
residential and commercial immovable
properties
45.64
-
-
-
-
-
-
-
-
-
-
-
19
Exposures included on a voluntary basis (3)
-
-
-
-
-
-
-
-
20
Total GAR assets
50,121.24
6,001.53
4,543.56
4,543.56
0.06
-
-
-
-
4,147.52
-
-
14,557.11
-
-
1,943.92
21
Assets not covered for GAR calculation
175,225.01
22
Central governments and Supranational
issuers
77,889.55
23
Central banks exposure
19,637.43
24
Trading book
3,530.91
25
Undertakings and entities not subject to
CSRD
62,294.07
26
SMEs and undertakings (other than SMEs)
not subject to CSRD disclosure obligations
59,278.71
27
Loans and advances
58,755.92
28
of which loans collateralised by commercial
immovable property
15,818.04
29
of which building renovation loans
329
Sustainability Statement 2024, Banca Transilvania Financial Group
Stock/Flow
(Million EUR)
a
b
c
d
e
f
g
h
i
j
k
l
m
n
o
p
Total
[gross] carrying
amount
Of which
Taxonomy
eligible
Of which
Taxonomy
aligned
Breakdown per environmental objective
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Climate
Change Mitigation
CCM
Climate
Change
Adaptation
CCA
Water and
marine
resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity
and
Ecosystems
BIO
Non assessed
exposures
Of which
financing non
material activities
of counterparties
(1)
Of which
exposures
financing counter
parties reporting
in accordance
with Article 7(9)
Of which not
assessed
consid− ered
nonmaterial by
the credit
institution (2)
30
Debt securities
475.00
31
Equity instruments
47.78
32
Non-EU country counterparties not subject
to CSRD disclosure obligations
3,015.36
33
Loans and advances
2,508.03
34
Debt securities
506.69
35
Equity instruments
0.64
36
Derivatives
145.82
37
On demand interbank loans
2,042.68
38
Cash and cash-related assets
5,548.23
39
Other categories of assets (e.g. Goodwill,
commodities etc.)
4,136.32
40
Total assets
225,346.25
6,001.53
4,543.56
4,543.50
0,06
-
-
-
-
4,147.52
-
-
14,557.11
-
-
1,943.92
Off-balance sheet exposures (stock) to Undertakings subject to CSRD disclosure obligations and local governments
41
Financial guarantees
1,225.38
20.89
20.01
20.01
-
-
-
-
-
-
-
-
1,205.37
-
-
-
42
Assets under management
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
43
of which debt securities
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
44
of which equity instrument
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1) In accordance with Article 7(8)(a) and (b) of this Regulation.
(2) In accordance with Article 4(1a) of this Regulation.
(3) In accordance with Article 7(3) of this Regulation.
Explanatory notes:
1. The following accounting categories of financial assets should be considered: Financial assets at amortised cost,
financial assets at fair value through other comprehensive income, investments in subsidiaries, joint ventures and
associates, financial assets designated at fair value through profit or loss and non-trading financial assets
mandatorily at fair value through profit or loss, and real estate collaterals obtained by credit institutions by taking
possession in exchange for cancellation of debts.
2. Credit institutions shall duplicate this template for reporting on stocks for the calculation of GAR stock, and
reporting on new assets for the calculation of GAR flow.
3. Credit institutions shall duplicate this template for turnover-based and CapEx-based disclosures.
330
Sustainability Statement 2024, Banca Transilvania Financial Group
Assets for the calculation of GAR (CapEx)
Disclosure reference date/period 31.12.2025
Stock/Flow
(Million EUR)
a
b
c
d
e
f
g
h
i
j
k
l
m
n
o
p
Total
[gross] carrying
amount
Of which
Taxonomy
eligible
Of which
Taxonomy
aligned
Breakdown per environmental objective
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Climate
Change Mitigation
CCM
Climate
Change
Adaptation
CCA
Water and
marine
resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity
and
Ecosystems
BIO
Non assessed
exposures
Of which
financing non
material activities
of counterparties
(1)
Of which
exposures
financing counter
parties reporting
in accordance
with Article 7(9)
Of which not
assessed consid−
ered nonmaterial
by the credit
institution (2)
1
GAR – Covered assets in both numerator
and denominator
2
Loans and advances, debt securities and
equity instruments not HfT eligible for GAR
calculation
50,075.61
7,179.44
4,622.04
4,621.88
0.16
-
-
-
-
4,147.52
-
-
14,478.62
-
-
1,943.92
3
Financial undertakings
10,099.75
281.44
34.81
34.65
0.16
-
-
-
-
-
-
-
9,849.86
-
-
15.94
4
Loans and advances
7,572.97
257.18
22.68
22.61
0.07
-
-
-
-
-
-
-
7,550.29
-
-
15.05
5
Debt securities, including UoP
2,311.70
24.26
12.13
12.04
0.09
-
-
-
-
-
-
-
2,299.57
-
-
0.89
6
Equity instruments
215.08
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7
Non-financial undertakings
9,847.98
3,986.76
1,826.15
1,826.15
-
-
-
-
-
1,386.44
-
-
4,628.76
-
1,927.99
8
Loans and advances
9,769.34
3,918.34
1,826.15
1,826.15
-
-
-
-
-
1,386.44
-
-
4,628.76
-
1,927.99
9
Debt securities, including UoP
78.64
68.42
-
-
-
-
-
-
-
-
-
-
-
-
-
10
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
11
Households
27,819.94
2,911.24
2,761.08
2,761.08
-
-
-
2,761.08
-
-
-
-
-
12
of which loans collateralised by residential
immovable property
27,449.37
2,911.24
2,761.08
2,761.08
-
-
-
2,761.08
-
-
-
-
13
of which building renovation loans
-
-
-
-
-
-
-
-
-
-
-
-
-
14
of which motor vehicle loans
370.57
-
-
-
-
-
-
-
-
-
-
15
Local governments financing
2,307.94
-
-
-
-
-
-
-
-
-
-
-
-
-
-
16
Housing financing
-
-
-
-
-
-
-
-
-
-
-
-
17
Other local government financing
2,307.94
-
-
-
-
-
-
-
-
-
-
-
-
-
-
18
Collateral obtained by taking possession:
residential and commercial immovable
properties
45.64
-
-
-
-
-
-
-
-
-
-
-
19
Exposures included on a voluntary basis (3)
-
-
-
-
-
-
-
-
-
-
-
20
Total GAR assets
50,121.24
7,179.44
4,622.04
4,621.88
0.16
-
-
-
-
4,147,52
-
-
14,478.62
-
-
1,943.92
21
Assets not covered for GAR calculation
175,225.01
22
Central governments and Supranational
issuers
77,889.55
23
Central banks exposure
19,637.43
24
Trading book
3,530.91
25
Undertakings and entities not subject to
CSRD
62,294.07
26
SMEs and undertakings (other than SMEs)
not subject to CSRD disclosure obligations
59,278.71
27
Loans and advances
58,755.92
28
of which loans collateralised by commercial
immovable property
15,818.04
29
of which building renovation loans
30
Debt securities
475.00
31
Equity instruments
47.78
32
Non-EU country counterparties not subject
to CSRD disclosure obligations
3,015.36
33
Loans and advances
2,508.03
331
Sustainability Statement 2024, Banca Transilvania Financial Group
Stock/Flow
(Million EUR)
a
b
c
d
e
f
g
h
i
j
k
l
m
n
o
p
Total
[gross] carrying
amount
Of which
Taxonomy
eligible
Of which
Taxonomy
aligned
Breakdown per environmental objective
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Climate
Change Mitigation
CCM
Climate
Change
Adaptation
CCA
Water and
marine
resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity
and
Ecosystems
BIO
Non assessed
exposures
Of which
financing non
material activities
of counterparties
(1)
Of which
exposures
financing counter
parties reporting
in accordance
with Article 7(9)
Of which not
assessed consid−
ered nonmaterial
by the credit
institution (2)
34
Debt securities
506.69
35
Equity instruments
0.64
36
Derivatives
145.82
37
On demand interbank loans
2,042.68
38
Cash and cash-related assets
5,548.23
39
Other categories of assets (e.g. Goodwill,
commodities etc.)
4,136.32
40
Total assets
225,346.25
7,194.44
4,622.04
4,621.88
0.16
-
-
-
-
4,147,52
-
-
14,478.62
-
-
1,943.92
Off-balance sheet exposures (stock) to Undertakings subject to CSRD disclosure obligations and local governments
41
Financial guarantees
1,225.38
75.91
25.26
25.26
-
-
-
-
-
-
-
-
1,200.12
-
-
-
42
Assets under management
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
43
of which debt securities
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
44
of which equity instrument
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1) In accordance with Article 7(8)(a) and (b) of this Regulation.
(2) In accordance with Article 4(1a) of this Regulation.
(3) In accordance with Article 7(3) of this Regulation.
Explanatory notes:
1. The following accounting categories of financial assets should be considered: Financial assets at amortised cost,
financial assets at fair value through other comprehensive income, investments in subsidiaries, joint ventures and
associates, financial assets designated at fair value through profit or loss and non-trading financial assets
mandatorily at fair value through profit or loss, and real estate collaterals obtained by credit institutions by taking
possession in exchange for cancellation of debts.
2. Credit institutions shall duplicate this template for reporting on stocks for the calculation of GAR stock, and
reporting on new assets for the calculation of GAR flow.
3. Credit institutions shall duplicate this template for turnover-based and CapEx-based disclosures.
332
Sustainability Statement 2024, Banca Transilvania Financial Group
Template 2:
GAR sector information (Turnover)
Disclosure reference date/period 31.12.2025
A
b
c
d
e
f
g
h
i
j
Breakdown by sector - NACE 4 digits level
(code and label)
Total [gross]
carrying amount
Of which
Taxonomy eligible
Of which
Taxonomy aligned
Climate
Change Mitigation
CCM
Climate
Change Adaptation
CCA
Water and
marine resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity and
Ecosystems
BIO
1
H 49.50 Transport via pipeline
797.15
-
-
-
-
-
-
-
-
2
G 47.11 Non-specialised retail sale of predominately food, beverages or
tobacco
709.84
-
-
-
-
-
-
-
-
3
C 29.10 Manufacture of motor vehicles
429.23
407.77
-
-
-
-
-
-
-
4
K 61.10 Wired, wireless, and satellite telecommunication activities
392.66
71.07
-
-
-
-
-
-
-
5
G 47.54 Retail sale of electrical household appliances
251.58
-
-
-
-
-
-
-
-
6
D 35.22 Distribution of gaseous fuels through mains
240.79
12.04
12.04
12.04
-
-
-
-
-
7
H 53.20 Other postal and courier activities
215.01
-
-
-
-
-
-
-
-
8
F 41.00 Construction of residential and non-residential buildings
199.55
-
-
-
-
-
-
-
-
9
C 24.42 Aluminium production
198.55
163.73
163.73
163.73
-
-
-
-
-
10
C 11.07 Manufacture of soft drinks and bottled waters
185.28
-
-
-
-
-
-
-
-
11
Nuclear activities (1)
-
12
Fossil gas activities (2)
-
13
Of which non-assessed exposures (3)
3,446.27
(1) Referred to in Sections 4.26, 4.27 and 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139.
(2) Referred to in Sections 4.29, 4.30 and 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139.
(3) In accordance with Article 7(8) of this Regulation.
Explanatory notes:
1. Credit institutions shall disclose in this template information on top ten exposures in the banking book towards top
ten sectors covered by the Taxonomy (NACE sectors 4 levels of detail), using the relevant NACE Codes on the basis
of the principal activity of the counterparty.
2. The counterparty NACE sector allocation shall be based exclusively on the nature of the immediate counterparty.
The classification of the exposures incurred jointly by more than one obligor shall be done on the basis of the
characteristics of the obligor that was the more relevant, or determinant, for the institution to grant the exposure.
The distribution of jointly incurred exposures by NACE codes shall be driven by the characteristics of the more
relevant or determinant obligor. Institutions shall disclose information by NACE codes with the level of disaggregation
required in the template.
3. Credit institutions shall duplicate this template for turnover-based and CapEx-based disclosures.
333
Sustainability Statement 2024, Banca Transilvania Financial Group
GAR – Informații pe sectoare (CapEx)
Disclosure reference date/period 31.12.2025
A
b
c
d
e
f
g
h
i
j
Breakdown by sector - NACE 4 digits level
(code and label)
Total [gross]
carrying amount
Of which
Taxonomy eligible
Of which
Taxonomy aligned
Climate
Change Mitigation
CCM
Climate
Change Adaptation
CCA
Water and
marine resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity and
Ecosystems
BIO
1
H 49.50 Transport via pipeline
797.15
779.86
-
-
-
-
-
-
-
2
G 47.11 Non-specialised retail sale of predominately food, beverages or
tobacco
709.84
-
-
-
-
-
-
-
-
3
C 29.10 Manufacture of motor vehicles
429.23
412.06
-
-
-
-
-
-
-
4
K 61.10 Wired, wireless, and satellite telecommunication activities
392.66
173.16
-
-
-
-
-
-
-
5
G 47.54 Retail sale of electrical household appliances
251.58
-
-
-
-
-
-
-
-
6
D 35.22 Distribution of gaseous fuels through mains
240.79
223.94
223.94
223.94
-
-
-
-
-
7
H 53.20 Other postal and courier activities
215.01
-
-
-
-
-
-
-
-
8
F 41.00 Construction of residential and non-residential buildings
199.55
-
-
-
-
-
-
-
-
9
C 24.42 Aluminium production
198.55
70.63
70.63
70.63
-
-
-
-
-
10
C 11.07 Manufacture of soft drinks and bottled waters
185.28
-
-
-
-
-
-
-
-
11
Nuclear activities (1)
-
12
Fossil gas activities (2)
-
13
Of which non-assessed exposures (3)
3,421.38
(1) Referred to in Sections 4.26, 4.27 and 4.28 of Annexes I and II to Delegated Regulation (EU) 2021/2139.
(2) Referred to in Sections 4.29, 4.30 and 4.31 of Annexes I and II to Delegated Regulation (EU) 2021/2139.
(3) In accordance with Article 7(8) of this Regulation.
Explanatory notes:
1. Credit institutions shall disclose in this template information on top ten exposures in the banking book towards top
ten sectors covered by the Taxonomy (NACE sectors 4 levels of detail), using the relevant NACE Codes on the basis
of the principal activity of the counterparty.
2. The counterparty NACE sector allocation shall be based exclusively on the nature of the immediate counterparty. The
classification of the exposures incurred jointly by more than one obligor shall be done on the basis of the
characteristics of the obligor that was the more relevant, or determinant, for the institution to grant the exposure.
The distribution of jointly incurred exposures by NACE codes shall be driven by the characteristics of the more
relevant or determinant obligor. Institutions shall disclose information by NACE codes with the level of disaggregation
required in the template.
3. Credit institutions shall duplicate this template for turnover-based and CapEx-based disclosures.
334
Sustainability Statement 2024, Banca Transilvania Financial Group
Template 3:
GAR KPI stock (Turnover)
Disclosure reference date 31.12.2025
a
b
c
d
e
f
g
h
i
j
k
l
m
%
(compared to corresponding total covered assets in
the denominator)
Taxonomy-eligible
Proportion of
Taxonomy aligned in
Taxonomy eligible
Non-assessed
exposures (1)
Taxonomy-aligned
Breakdown per environmental objective
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Climate
Change Mitigation
CCM
Climate
Change Adaptation
CCA
Water and
marine resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity and
Ecosystems
BIO
1
GAR – Covered assets in both numerator and
denominator
2
Loans and advances, debt securities and
equity instruments not HfT eligible for GAR
calculation
11.98%
9.07%
9.07%
-
-
-
-
-
8.28%
-
-
75.71%
29.07%
3
Financial undertakings
2.64%
0.26%
0.26%
-
-
-
-
-
-
-
-
9.96%
97.61%
4
Loans and advances
3.30%
0.24%
0.24%
-
-
-
-
-
-
-
-
7.38%
99.76%
5
Debt securities, including UoP
0.70%
0.35%
0.35%
-
-
-
-
-
-
-
-
50.00%
99.65%
6
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
7
Non-financial undertakings
28.68%
17.83%
17.83%
-
-
-
-
-
14.08%
-
-
62.18%
47.71%
8
Loans and advances
28.39%
17.97%
18.09%
-
-
-
-
-
14.19%
-
-
63.31%
48.10%
9
Debt securities, including UoP
64.00%
-
-
-
-
-
-
-
-
-
-
-
-
10
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
11
Households
10.46%
9.92%
9.92%
-
-
9.92%
-
-
94.84%
-
12
of which loans collateralised by residential
immovable property
10.61%
10.06%
10.06%
-
-
10.06%
-
-
94.84%
-
13
of which building renovation loans
-
-
-
-
-
-
-
-
-
-
14
of which motor vehicle loans
-
-
-
-
-
-
-
-
15
Local governments financing
-
-
-
-
-
-
-
-
-
-
-
-
-
16
Housing financing
-
-
-
-
-
-
-
-
-
-
17
Other local government financing
-
-
-
-
-
-
-
-
-
-
-
-
-
18
Collateral obtained by taking possession:
residential and commercial immovable
properties
-
-
-
-
-
-
-
-
-
-
19
Exposures included on a voluntary basis (2)
-
-
-
-
-
-
-
-
-
20
Total GAR assets
11.97%
9.07%
9.07%
-
-
-
-
-
8.27%
-
-
75.71%
29.04%
(1) In accordance with Article 7(8) of this Regulation.
(2) In accordance with Article 7(3) of this Regulation.
Explanatory notes:
1. Institutions shall disclose in this template the GAR KPIs on stock of exposures calculated based on the
data disclosed in template 1, on covered assets.
2. Credit institutions shall duplicate this template for turnover-based and CapEx-based disclosures.
335
Sustainability Statement 2024, Banca Transilvania Financial Group
GAR KPI stock (CapEx)
Disclosure reference date 31.12.2025
a
b
c
d
e
f
g
h
i
j
k
l
m
%
(compared to corresponding total covered assets in
the denominator)
Taxonomy-eligible
Proportion of
Taxonomy aligned in
Taxonomy eligible
Non-assessed
exposures (1)
Taxonomy-aligned
Breakdown per environmental objective
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Climate
Change Mitigation
CCM
Climate
Change Adaptation
CCA
Water and
marine resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity and
Ecosystems
BIO
1
GAR – Covered assets in both numerator and
denominator
2
Loans and advances, debt securities and
equity instruments not HfT eligible for GAR
calculation
14.34%
9.23%
9.23%
-
-
-
-
-
8.28%
-
-
64.38%
28.89%
3
Financial undertakings
2.79%
0.34%
0.34%
-
-
-
-
-
-
-
-
12.37%
97.53%
4
Loans and advances
3.40%
0.30%
0.30%
-
-
-
-
-
-
-
-
8.82%
97.53%
5
Debt securities, including UoP
1.05%
0.52%
0.52%
-
-
-
-
-
-
-
-
50.00%
99.70%
6
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
0.00%
7
Non-financial undertakings
40.60%
18.54%
18.54%
-
-
-
-
-
14.08%
-
-
45.81%
47.00%
8
Loans and advances
40.22%
18.69%
18.69%
-
-
-
-
-
14.19%
-
-
46.61%
47.38%
9
Debt securities, including UoP
87.00%
0.00%
0.00%
-
-
-
-
-
-
-
-
-
-
10
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
11
Households
10.46%
9.92%
9.92%
-
-
9.92%
-
-
94.84%
-
12
of which loans collateralised by residential
immovable property
10.61%
10.06%
10.06%
-
-
10.06%
-
-
94.84%
-
13
of which building renovation loans
-
-
-
-
-
-
-
-
-
-
14
of which motor vehicle loans
-
-
-
-
-
-
-
-
15
Local governments financing
-
-
-
-
-
-
-
-
-
-
-
-
-
16
Housing financing
-
-
-
-
-
-
-
-
-
-
17
Other local government financing
-
-
-
-
-
-
-
-
-
-
-
-
-
18
Collateral obtained by taking possession:
residential and commercial immovable
properties
-
-
-
-
-
-
-
-
-
-
19
Exposures included on a voluntary basis (2)
-
-
-
-
-
-
-
-
-
20
Total GAR assets
14.32%
9.22%
9.22%
-
-
-
-
-
8.27%
-
-
64.38%
28.89%
(1) In accordance with Article 7(8) of this Regulation.
(2) In accordance with Article 7(3) of this Regulation.
Explanatory notes:
1. Institutions shall disclose in this template the GAR KPIs on stock of exposures calculated based on the
data disclosed in template 1, on covered assets.
2. Credit institutions shall duplicate this template for turnover-based and CapEx-based disclosures.
336
Sustainability Statement 2024, Banca Transilvania Financial Group
Template 4:
GAR KPI flow (Turnover)
Disclosure reference date 31.12.2025
a
b
c
d
e
f
g
h
i
j
k
l
m
%
(compared to corresponding total
covered assets in the denominator)
Taxonomy-eligible
Proportion of
Taxonomy-aligned in
Taxonomy-eligible
Non-assessed
exposures (1)
Taxonomy-aligned
Breakdown per environmental objective
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Climate
Change Mitigation
CCM
Climate
Change Adaptation
CCA
Water and
marine resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity and
Ecosystems
BIO
1
GAR – Covered assets in both
numerator and denominator
2
Loans and advances, debt
securities and equity
instruments not HfT eligible for
GAR calculation
19.31%
13.36%
7.84%
-
-
-
-
-
11.69%
-
-
69.19%
28.36%
3
Financial undertakings
-
-
-
-
-
-
-
-
-
-
-
-
-
4
Loans and advances
-
-
-
-
-
-
-
-
-
-
-
-
-
5
Debt securities, including UoP
-
-
-
-
-
-
-
-
-
-
-
-
-
6
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
7
Non-financial undertakings
32.89%
19.18%
19.18%
-
-
-
-
-
15.09%
-
-
58.31%
69.38%
8
Loans and advances
32.89%
19.18%
19.18%
-
-
-
-
-
15.09%
-
-
58.31%
69.38%
9
Debt securities, including UoP
-
-
-
-
-
-
-
-
-
-
-
-
-
10
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
11
Households
10.72%
10.08%
-
-
-
10.08%
-
-
94.09%
-
12
of which loans collateralised by
residential immovable property
11.05%
10.40%
-
-
-
10.40%
-
-
94.09%
-
13
of which building renovation
loans
-
-
-
-
-
-
-
-
-
-
14
of which motor vehicle loans
-
-
-
-
-
-
-
-
15
Local governments financing
-
-
-
-
-
-
-
-
-
-
-
-
-
16
Housing financing
-
-
-
-
-
-
-
-
-
-
17
Other local government
financing
-
-
-
-
-
-
-
-
-
-
-
-
-
18
Collateral obtained by taking
possession: residential and
commercial immovable
properties
-
-
-
-
-
-
-
-
-
-
19
Exposures included on a
voluntary basis (2)
-
-
-
-
-
-
-
-
-
20
Total GAR assets
19.24%
13.31%
7.81%
-
-
-
-
-
11.65%
-
-
69.19%
28.24%
(1) In accordance with Article 7(8) of this Regulation.
(2) In accordance with Article 7(3) of this Regulation.
Explanatory notes:
1. Institutions shall disclose in this template the GAR KPIs on flow of new loans and advances, debt securities, equity instruments,
and repossessed collateral during the financial year prior to the disclosure reference date calculated based on the data
disclosed in template 1, on covered assets.
2. Credit institutions shall duplicate this template for turnover-based and CapEx-based disclosures.
337
Sustainability Statement 2024, Banca Transilvania Financial Group
GAR KPI flow (CapEx)
Disclosure reference date 31.12.2025
%
(compared to corresponding total
covered assets in the denominator)
Taxonomy-eligible
Proportion of
Taxonomy-aligned in
Taxonomy-eligible
Non-assessed
exposures (1)
Taxonomy-aligned
Breakdown per environmental objective
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Climate
Change Mitigation
CCM
Climate
Change Adaptation
CCA
Water and
marine resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity and
Ecosystems
BIO
1
GAR – Covered assets in both
numerator and denominator
2
Loans and advances, debt
securities and equity
instruments not HfT eligible for
GAR calculation
23.35%
13.46%
13.46%
-
-
-
-
-
11.69%
-
-
57.65%
28.36%
3
Financial undertakings
-
-
-
-
-
-
-
-
-
-
-
-
-
4
Loans and advances
-
-
-
-
-
-
-
-
-
-
-
-
-
5
Debt securities, including UoP
-
-
-
-
-
-
-
-
-
-
-
-
-
6
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
7
Non-financial undertakings
42.75%
19.41%
19.41%
-
-
-
-
-
15.09%
-
-
45.41%
69.38%
8
Loans and advances
42.75%
19.41%
19.41%
-
-
-
-
-
15.09%
-
-
45.41%
69.38%
9
Debt securities, including UoP
-
-
-
-
-
-
-
-
-
-
-
-
-
10
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
11
Households
10.72%
10.08%
10.08%
-
-
10.08%
-
-
94.09%
-
12
of which loans collateralised by
residential immovable property
11.05%
10.40%
10.40%
-
-
10.40%
-
-
94.09%
-
13
of which building renovation
loans
-
-
-
-
-
-
-
-
-
-
14
of which motor vehicle loans
0.00%
0.00%
0.00%
-
-
-
-
-
15
Local governments financing
-
-
-
-
-
-
-
-
-
-
-
-
-
16
Housing financing
-
-
-
-
-
-
-
-
-
-
17
Other local government
financing
-
-
-
-
-
-
-
-
-
-
-
-
-
18
Collateral obtained by taking
possession: residential and
commercial immovable
properties
-
-
-
-
-
-
-
-
-
-
19
Exposures included on a
voluntary basis (2)
-
-
-
-
-
-
-
-
-
20
Total GAR assets
23.25%
13.41%
13.41%
-
-
-
-
-
11.65%
-
-
57.65%
28.24%
(1) In accordance with Article 7(8) of this Regulation.
(2) In accordance with Article 7(3) of this Regulation.
Explanatory notes:
1. Institutions shall disclose in this template the GAR KPIs on flow of new loans and advances, debt securities, equity instruments,
and repossessed collateral during the financial year prior to the disclosure reference date calculated based on the data
disclosed in template 1, on covered assets.
2. Credit institutions shall duplicate this template for turnover-based and CapEx-based disclosures.
338
Sustainability Statement 2024, Banca Transilvania Financial Group
Template 5
KPI off-balance sheet exposures -stock (Turnover)
Disclosure reference date 31.12.2025
%
(compared to corresponding total off-balance
sheet assets)
a
b
c
d
e
f
g
h
i
j
k
l
Taxonomy-eligible
Non-assessed
exposures (1)
Taxonomy-aligned
Breakdown per environmental objective
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Climate
Change Mitigation
CCM
Climate
Change Adaptation
CCA
Water and
marine resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity and
Ecosystems
BIO
1
Financial guarantees (FinGuar KPI)
1.70%
1.63%
1.63%
-
-
-
-
-
-
-
-
98.37%
2
Assets under management (AuM KPI)
-
-
-
-
-
-
-
-
-
-
-
-
KPI off-balance sheet exposures -stock (CapEx)
Disclosure reference date 31.12.2025
%
(compared to corresponding total off-balance
sheet assets)
a
b
c
d
e
f
g
h
i
j
k
l
Taxonomy-eligible
Non-assessed
exposures (1)
Taxonomy-aligned
Breakdown per environmental objective
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Climate
Change Mitigation
CCM
Climate
Change Adaptation
CCA
Water and
marine resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity and
Ecosystems
BIO
1
Financial guarantees (FinGuar KPI)
6.19%
2.06%
2.06%
-
-
-
-
-
-
-
-
97.94%
2
Assets under management (AuM KPI)
-
-
-
-
-
-
-
-
-
-
-
-
(1) In accordance with Article 7(8) of this Regulation.
Explanatory notes:
1. Institutions shall disclose in this template the KPIs for off-balance sheet exposures (financial
guarantees and AuM) calculated based on the data disclosed in template 1, on covered
assets.
2. Institutions shall duplicate this template to disclose stock and flow KPIs for off-balance
sheet exposures.
3. Credit institutions shall duplicate this template for turnover-based and CapEx-based
disclosures.
339
Sustainability Statement 2024, Banca Transilvania Financial Group
KPI off-balance sheet exposures -flow (Turnover)
Disclosure reference date 31.12.2025
%
(compared to corresponding total off-balance
sheet assets)
a
b
c
d
e
f
g
h
i
j
k
l
Taxonomy-eligible
Non-assessed
exposures (1)
Taxonomy-aligned
Breakdown per environmental objective
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Climate
Change Mitigation
CCM
Climate
Change Adaptation
CCA
Water and
marine resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity and
Ecosystems
BIO
1
Financial guarantees (FinGuar KPI)
0.13%
0.04%
0.04%
0.00%
0.00%
-
-
-
-
-
-
99.96%
2
Assets under management (AuM KPI)
-
-
-
-
-
-
-
-
-
-
-
-
KPI off-balance sheet exposures -flow (CapEx)
Disclosure reference date 31.12.2025
%
(compared to corresponding total off-balance
sheet assets)
a
b
c
d
e
f
g
h
i
j
k
l
Taxonomy-eligible
Non-assessed
exposures (1)
Taxonomy-aligned
Breakdown per environmental objective
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Climate
Change Mitigation
CCM
Climate
Change Adaptation
CCA
Water and
marine resources
WTR
Circular
economy
CE
Pollution
PPC
Biodiversity and
Ecosystems
BIO
1
Financial guarantees (FinGuar KPI)
4.64%
0.38%
0.38%
-
-
-
-
-
-
-
-
98.37%
2
Assets under management (AuM KPI)
-
-
-
-
-
-
-
-
-
-
-
-
(1) In accordance with Article 7(8) of this Regulation.
Explanatory notes:
1. Institutions shall disclose in this template the KPIs for off-balance sheet exposures (financial
guarantees and AuM) calculated based on the data disclosed in template 1, on covered
assets.
2. Institutions shall duplicate this template to disclose stock and flow KPIs for off-balance
sheet exposures.
3. Credit institutions shall duplicate this template for turnover-based and CapEx-based
disclosures.
340
Sustainability Statement 2024, Banca Transilvania Financial Group
1. Assets for the calculation of GAR (Turnover)
Million RON
Total
[gross]
carrying
amount
Year End at 31.12.2024
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL
(CCM + CCA + WTR + CE + PPC + BIO)
Of which towards taxonomy relevant sectors (Taxonomy-eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-eligible)
Of which environmentally sustainable (Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned))
Of which environmentally sustainable (Taxonomy-aligned)
Of which
Use of
Proceeds
Of which
transitional
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator
and denominator
1
Loan and advances, debt securities
and equity instruments not HfT
eligible for GAR calculation
52,992.93
5,198.49
2,558.77
2,543.82
-
93.06
1,772.96
11.50
-
-
-
-
-
-
2,050.39
-
-
-
34.07
-
-
-
42.39
-
-
-
9,024.32
2,558.77
2,543.82
-
93.06
2
Financial undertakings
12,762.87
-
-
-
-
-
-
11.50
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3
Credit institutions
9,586.54
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4
Loans and advances
7,352.93
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
5
Debt securities, including
UoP
2,233.14
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6
Equity instruments
0.47
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7
Other financial corporations
3,176.33
-
-
-
-
-
-
11.50
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8
of which investment firms
1,799.87
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
9
Loans and advances
3.74
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10
Debt securities, including
UoP
1,647.68
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
11
Equity instruments
148.45
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12
of which management
companies
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
13
Loans and advances
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
14
Debt securities, including
UoP
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
15
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
16
of which insurance
undertakings
66.47
-
-
-
-
-
-
11.50
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
17
Loans and advances
66.47
-
-
-
-
-
-
11.50
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
18
Debt securities, including
UoP
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
19
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
20
Non-financial undertakings
6,942.82
2,729.39
93.06
78.11
-
93.06
146.86
-
-
-
-
-
-
-
2,050.39
-
-
-
34.07
-
-
-
42.39
-
-
-
4,929.12
93.06
78.11
-
93.06
21
Loans and advances
6,868.84
2,655.42
93.06
78.11
-
93.06
146.86
-
-
-
-
-
-
-
2,050.39
-
-
-
34.07
-
-
-
42.39
-
-
-
4,929.12
93.06
78.11
-
93.06
22
Debt securities,
including UoP
73.97
73.97
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
23
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
24
Households
25,998.75
2,465.71
2,465.71
2,465.71
-
-
-
-
-
-
-
-
-
-
2,465.71
2,465.71
2,465.71
-
-
25
of which loans
collateralized by
residential immovable
property
25,905.83
2,465.71
2,465.71
2,465.71
-
-
-
-
-
-
-
-
-
-
2,465.71
2,465.71
2,465.71
-
-
26
of which building
renovation loans
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
27
of which motor vehicle
loans
92.92
-
-
-
-
-
-
-
-
-
-
-
-
-
-
28
Local governments financing
7,288.50
3.39
-
-
-
-
1,626.10
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,629.49
-
-
-
-
29
Housing financing
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
30
Other local government financing
7,288.50
3.39
-
-
-
-
1,626.10
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,629.49
-
-
-
-
31
Collateral obtained by taking
possession: residential and
commercial immovable properties
41.46
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
32
Assets excluded from the numerator for
GAR calculation (covered in the
denominator)
53,492.12
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
33
Financial and non-financial
undertakings
41,632.21
34
SMEs and NFCs (other than SMEs)
not subject to NFRD disclosure
obligations
39,157.49
35
Loans and advances
39,127.71
36
of which loans
collateralised by
commercial immovable
property
11,275.74
37
of which building
renovation loans
-
341
Sustainability Statement 2024, Banca Transilvania Financial Group
1. Assets for the calculation of GAR (Turnover)
Million RON
Total
[gross]
carrying
amount
Year End at 31.12.2024
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL
(CCM + CCA + WTR + CE + PPC + BIO)
Of which towards taxonomy relevant sectors (Taxonomy-eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-eligible)
Of which environmentally sustainable (Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned))
Of which environmentally sustainable (Taxonomy-aligned)
Of which
Use of
Proceeds
Of which
transitional
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
transitional
Of which
enabling
38
Debt securities
-
39
Equity instruments
29.78
40
Non-EU country counterparties
not subject to NFRD disclosure
obligations
2,474.73
41
Loans and advances
1,490.99
42
Debt securities
584.30
43
Equity instruments
399.44
44
Derivatives
173.03
45
On demand interbank loans
2,422.20
46
Cash and cash-related assets
5,227.28
47
Other categories of assets (e,g,
Goodwill. commodities etc,)
4,037.40
48
Total GAR assets
106,526.52
5,198.49
2,558.77
2,543.82
-
93.06
1,772.96
11.50
-
-
-
-
-
-
2,050.39
-
-
-
34.07
-
-
-
42.39
-
-
-
9,024.32
2,558.77
2,543.82
-
93.06
49
Assets not covered for GAR calculation
88,665.45
50
Central governments and
Supranational issuers
67,996.60
51
Central banks exposure
17,087.07
52
Trading book
3,581.78
53
Total assets
195,191.97
5,198.49
2,558.77
2,543.82
-
93.06
1,772.96
11.50
-
-
-
-
-
-
2,050.39
-
-
-
34.07
-
-
-
42.39
-
-
-
9,024.32
2,558.77
2,543.82
-
93.06
Off-balance sheet exposures - Undertakings
subject to NFRD disclosure obligations
54
Financial guarantees
720.70
198.53
7.14
7.14
-
7.14
21.64
-
-
-
183.98
-
-
-
-
-
-
-
-
-
-
-
404.15
7.14
7.14
-
7.14
55
Assets under management
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
56
Of which debt securities
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
57
Of which equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
342
Sustainability Statement 2024, Banca Transilvania Financial Group
1. Assets for the calculation of GAR (CapEx)
Million RON
Total
[gross]
carrying
amount
Year End at 31.12.2024
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL
(CCM + CCA + WTR + CE + PPC + BIO)
Of which towards taxonomy relevant sectors (Taxonomy-eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-eligible)
Of which environmentally sustainable (Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned))
Of which environmentally sustainable (Taxonomy-aligned)
Of which
Use of
Proceeds
Of which
transitional
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator
and denominator
1
Loan and advances, debt securities
and equity instruments not HfT
eligible for GAR calculation
52,992.93
5,670.37
2,835.45
2,543.82
-
369.73
1,772.96
11.50
-
-
-
-
-
-
2,107.67
0.55
-
0.55
34.07
-
-
-
42.39
-
-
-
9,553.48
2,836.00
2,543.82
-
370.29
2
Financial undertakings
12,762.87
-
-
-
-
-
-
11.50
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3
Credit institutions
9,586.54
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4
Loans and advances
7,352.93
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
5
Debt securities, including
UoP
2,233.14
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6
Equity instruments
0.47
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7
Other financial corporations
3,176.33
-
-
-
-
-
-
11.50
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8
of which investment firms
1,799.87
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
9
Loans and advances
3.74
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10
Debt securities, including
UoP
1,647.68
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
11
Equity instruments
148.45
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12
of which management
companies
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
13
Loans and advances
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
14
Debt securities, including
UoP
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
15
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
16
of which insurance
undertakings
66.47
-
-
-
-
-
-
11.50
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
17
Loans and advances
66.47
-
-
-
-
-
-
11.50
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
18
Debt securities, including
UoP
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
19
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
20
Non-financial undertakings
6,942.82
3,201.27
369.73
78.11
-
369.73
146.86
-
-
-
-
-
-
-
2,107.67
0.55
-
0.55
34.07
-
-
-
42.39
-
-
-
5,458.28
370.29
78.11
-
370.29
21
Loans and advances
6,868.84
3,127.30
369.73
78.11
-
369.73
146.86
-
-
-
-
-
-
-
2,107.67
0.55
-
0.55
34.07
-
-
-
42.39
-
-
-
5,458.28
370.29
78.11
-
370.29
22
Debt securities,
including UoP
73.97
73.97
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
23
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
24
Households
25,998.75
2,465.71
2,465.71
2,465.71
-
-
-
-
-
-
-
-
-
-
2,465.71
2,465.71
2,465.71
-
-
25
of which loans
collateralized by
residential immovable
property
25,905.83
2,465.74
2,465.71
2,465.71
-
-
-
-
-
-
-
-
-
-
2,465.71
2,465.71
2,465.71
-
-
26
of which building
renovation loans
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
27
of which motor vehicle
loans
92.92
-
-
-
-
-
-
-
-
-
-
-
-
-
-
28
Local governments financing
7,288.50
3.39
-
-
-
-
1,626.10
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,629.49
-
-
-
-
29
Housing financing
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
30
Other local government financing
7,288.50
3.39
-
-
-
-
1,626.10
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,629.49
-
-
-
-
31
Collateral obtained by taking
possession: residential and
commercial immovable properties
41.46
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
32
Assets excluded from the numerator for
GAR calculation (covered in the
denominator)
53,492.12
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
33
Financial and non-financial
undertakings
41,632.21
34
SMEs and NFCs (other than SMEs)
not subject to NFRD disclosure
obligations
39,157.49
35
Loans and advances
39,127.71
36
of which loans
collateralised by
commercial immovable
property
11,275.74
37
of which building
renovation loans
-
343
Sustainability Statement 2024, Banca Transilvania Financial Group
1. Assets for the calculation of GAR (CapEx)
Million RON
Total
[gross]
carrying
amount
Year End at 31.12.2024
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL
(CCM + CCA + WTR + CE + PPC + BIO)
Of which towards taxonomy relevant sectors (Taxonomy-eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-eligible)
Of which environmentally sustainable (Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned))
Of which environmentally sustainable (Taxonomy-aligned)
Of which
Use of
Proceeds
Of which
transitional
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
transitional
Of which
enabling
38
Debt securities
-
39
Equity instruments
29.78
40
Non-EU country counterparties
not subject to NFRD disclosure
obligations
2,474.73
41
Loans and advances
1,490.99
42
Debt securities
584.30
43
Equity instruments
399.44
44
Derivatives
173.03
45
On demand interbank loans
2,422.20
46
Cash and cash-related assets
5,227.28
47
Other categories of assets (e,g,
Goodwill. commodities etc,)
4,037.40
48
Total GAR assets
106,526.52
5,670.37
2,835.45
2,543.82
-
369.73
1,772.96
11.50
-
-
-
-
-
-
2,107.67
0.55
-
0.55
34.07
-
-
-
42.39
-
-
-
9,553.48
2,836.00
2,543.82
-
370.29
49
Assets not covered for GAR calculation
88,665.45
50
Central governments and
Supranational issuers
67,996.60
51
Central banks exposure
17,087.07
52
Trading book
3,581.78
53
Total assets
195,191.97
5,670.37
2,835.45
2,543.82
-
369.73
1,772.96
11.50
-
-
-
-
-
-
2,107.67
0.55
-
0.55
34.07
-
-
-
42.39
-
-
-
9,553.48
2,836.00
2,543.82
-
370.29
Off-balance sheet exposures - Undertakings
subject to NFRD disclosure obligations
54
Financial guarantees
720.70
252.98
63.36
1.85
-
63.36
21.64
-
-
-
-
-
-
-
185.01
-
-
-
-
-
-
-
-
-
-
-
459.64
63.36
1.85
-
63.36
55
Assets under management
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
56
Of which debt securities
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
57
Of which equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
344
Sustainability Statement 2024, Banca Transilvania Financial Group
2. GAR – Information by Sector (Turnover)
Breakdown by sector - NACE 4 digits level
(code and label)
Year end at 31.12.2024
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL
(CCM + CCA + WTR + CE + PPC + BIO)
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCA)
Mn RON
Of which
environmentally
sustainable
(CCA)
Mn RON
Of which
environmentally
sustainable
(WTR)
Mn RON
Of which
environmentally
sustainable
(WTR)
Mn RON
Of which
environmentally
sustainable
(CE)
Mn RON
Of which
environmentally
sustainable
(CE)
Mn RON
Of which
environmentally
sustainable
(PPC)
Mn RON
Of which
environmentally
sustainable
(PPC)
Mn RON
Of which
environmentally
sustainable
(BIO)
Mn RON
Of which
environmentally
sustainable
(BIO)
Mn RON
Of which
environmentally
sustainable
(CCM + CCA +
WTR + CE +
PPC + BIO)
Mn RON
Of which
environmentally
sustainable
(CCM + CCA +
WTR + CE +
PPC + BIO)
1
C 2910 Manufacture of motor
vehicles
288.41
-
-
-
-
-
-
-
-
-
-
-
288.41
-
2
F 4120 Construction of residential
and non-residential buildings
245.06
-
-
-
-
-
-
-
-
-
-
-
245.06
-
3
D 3522 Distribution of gaseous
fuels through mains
237.12
-
-
-
-
-
-
-
-
-
-
-
237.12
-
4
D 3523 Trade of gas through
mains
228.09
78.11
-
-
-
-
-
-
-
-
-
-
228.09
78.11
5
C 2442 Aluminium production
203.51
-
-
-
-
-
-
-
-
-
-
-
203.51
-
6
C 2751 Manufacture of electric
domestic appliances
194.85
-
-
-
-
-
-
-
-
-
-
-
194.85
-
7
H 5320 Other postal and courier
activities
183.82
-
-
-
-
-
-
-
-
-
-
-
183.82
-
8
D 3514 Trade of electricity
1.13
-
-
-
-
-
-
-
-
-
-
-
1.13
-
9
D 3513 Distribution of electricity
95.34
14.95
-
-
-
-
-
-
-
-
-
-
95.34
14.95
10
C 2221 Manufacture of plastic
plates, sheets, tubes and profiles
134.50
-
-
-
-
-
-
-
-
-
-
-
134.50
-
11
C 2361 Manufacture of concrete
products for construction
purposes
127.36
-
-
-
-
-
-
-
-
-
-
-
127.36
-
12
N 7711 Renting and leasing of cars
and light motor vehicles
124.95
-
-
-
-
-
-
-
-
-
-
-
124.95
-
13
J 6110 Wired telecommunications
activities
124.33
-
-
-
-
-
-
-
-
-
-
-
124.33
-
14
C 2223 Manufacture of builders'
ware of plastic
85.81
-
-
-
-
-
-
-
-
-
-
-
85.81
-
15
J 6120 Wireless
telecommunications activities
0.55
-
-
-
-
-
-
-
-
-
-
-
0.55
-
16
C 3020 Manufacture of railway
locomotives and rolling stock
55.89
-
-
-
-
-
-
-
-
-
-
-
55.89
-
17
C 2511 Manufacture of metal
structures and parts of structures
49.98
-
-
-
-
-
-
-
-
-
-
-
49.98
-
18
H 5110 Passenger air transport
43.62
-
-
-
-
-
-
-
-
-
-
-
43.62
-
19
C 2932 Manufacture of other
parts and accessories for motor
vehicles
41.63
-
-
-
-
-
147.01
-
-
-
-
-
188.64
-
20
H 4920 Freight rail transport
36.25
-
-
-
-
-
-
-
-
-
-
-
36.25
-
21
C 2732 Manufacture of other
electronic and electric wires and
cables
34.93
-
-
-
-
-
-
-
-
-
-
-
34.93
-
22
C 2363 Manufacture of ready-
mixed concrete
22.72
-
-
-
-
-
-
-
-
-
-
-
22.72
-
23
E 3811 Collection of non-
hazardous waste
16.43
-
-
-
-
-
-0.01
-
-
-
-
-
16.42
-
24
C 2612 Manufacture of loaded
electronic boards
15.89
-
-
-
-
-
-
-
-
-
-
-
15.89
-
25
C 2015 Manufacture of fertilisers
and nitrogen compounds
15.55
-
-
-
-
-
-
-
-
-
-
-
15.55
-
26
H 5224 Cargo handling
0.15
-
-
-
-
-
-
-
-
-
-
-
0.15
-
27
F 4321 Electrical installation
7.73
-
-
-
-
-
-
-
-
-
-
-
7.73
-
28
E 3600 Water collection,
treatment and supply
6.42
-
-
-
-
-
-
-
-
-
-
-
6.42
-
29
C 3030 Manufacture of air and
spacecraft and related machinery
5.86
-
-
-
-
-
-
-
-
-
-
-
5.86
-
30
C 2341 Manufacture of ceramic
household and ornamental articles
4.86
-
-
-
-
-
-
-
-
-
-
-
4.86
-
31
H 4931 Urban and suburban
passenger land transport
4.65
-
-
-
-
-
-
-
-
-
-
-
4.65
-
32
C 2815 Manufacture of bearings,
gears, gearing and driving
elements
3.24
-
-
-
-
-
-
-
-
-
-
-
3.24
-
33
M 7120 Technical testing and
analysis
3.16
-
-
-
-
-
-
-
-
-
-
-
3.16
-
34
M 7112 Engineering activities and
related technical consultancy
3.08
-
-
-
-
-
-
-
-
-
-
-
3.08
-
35
F 4222 Construction of utility
projects for electricity and
telecommunications
2.26
-
-
-
-
-
-
-
-
-
-
-
2.26
-
345
Sustainability Statement 2024, Banca Transilvania Financial Group
2. GAR – Information by Sector (Turnover)
Breakdown by sector - NACE 4 digits level
(code and label)
Year end at 31.12.2024
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL
(CCM + CCA + WTR + CE + PPC + BIO)
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCA)
Mn RON
Of which
environmentally
sustainable
(CCA)
Mn RON
Of which
environmentally
sustainable
(WTR)
Mn RON
Of which
environmentally
sustainable
(WTR)
Mn RON
Of which
environmentally
sustainable
(CE)
Mn RON
Of which
environmentally
sustainable
(CE)
Mn RON
Of which
environmentally
sustainable
(PPC)
Mn RON
Of which
environmentally
sustainable
(PPC)
Mn RON
Of which
environmentally
sustainable
(BIO)
Mn RON
Of which
environmentally
sustainable
(BIO)
Mn RON
Of which
environmentally
sustainable
(CCM + CCA +
WTR + CE +
PPC + BIO)
Mn RON
Of which
environmentally
sustainable
(CCM + CCA +
WTR + CE +
PPC + BIO)
36
L 6832 Management of real estate
on a fee or contract basis
1.44
-
-
-
-
-
-
-
-
-
-
-
1.44
-
37
H 4910 Passenger rail transport,
interurban
1.05
-
-
-
-
-
-
-
-
-
-
-
1.05
-
38
C 2572 Manufacture of locks and
hinges
0.96
-
-
-
-
-
-
-
-
-
-
-
0.96
-
39
C 2351 Manufacture of cement
0.93
-
-
-
-
-
-
-
-
-
-
-
0.93
-
40
C 2420 Manufacture of tubes,
pipes, hollow profiles and related
fittings, of steel
0.70
-
-
-
-
-
-
-
-
-
-
-
0.70
-
41
C 2611 Manufacture of electronic
components
0.69
-
-
-
-
-
-
-
-
-
-
-
0.69
-
42
J 6311 Data processing, hosting
and related activities
0.23
-
-
-
-
-
-
-
-
-
-
-
0.23
-
43
C 2813 Manufacture of other
pumps and compressors
0.22
-
-
-
-
-
-
-
-
-
-
-
0.22
-
44
C 2229 Manufacture of other
plastic products
0.22
-
-
-
-
-
-
-
-
-
-
-
0.22
-
45
H 4941 Freight transport by road
0.18
-
-
-
-
-
-
-
-
-
-
-
0.18
-
46
C 3011 Building of ships and
floating structures
0.16
-
-
-
-
-
-
-
-
-
-
-
0.16
-
47
C 2550 Forging, pressing,
stamping and roll-forming of
metal; powder metallurgy
0.12
-
-
-
-
-
-
-
-
-
-
-
0.12
-
48
C 2931 Manufacture of electrical
and electronic equipment for
motor vehicles
0.09
-
-
-
-
-
-
-
-
-
-
-
0.09
-
49
F 4211 Construction of roads and
motorways
0.07
-
142.47
-
-
-
-
-
-
-
-
-
142.54
-
50
F 4299 Construction of other civil
engineering projects nec
-
-
-
-
-
-
-
-
-
-
-
-
-
-
51
C 2825 Manufacture of non-
domestic cooling and ventilation
equipment
-
-
-
-
-
-
-
-
-
-
-
-
-
-
52
C 3317 Repair and maintenance of
other transport equipment
-
-
-
-
-
-
-
-
-
-
-
-
-
-
53
D 3511 Production of electricity
-0.72
-
-
-
-
-
-
-
-
-
-
-
-0.72
-
54
H 5310 Postal activities under
universal service obligation
-0.05
-
-
-
-
-
-
-
-
-
-
-
-0.05
-
55
B 0910 Support activities for
petroleum and natural gas
extraction
-
-
2.36
-
-
-
-
-
-
-
-
-
2.36
-
56
C 1011 Processing and preserving
of meat
-
-
-
-
-
-
31.67
-
-
-
-
-
31.67
-
57
C 1012 Processing and preserving
of poultry meat
-
-
-
-
-
-
86.64
-
-
-
-
-
86.64
-
58
C 1013 Production of meat and
poultry meat products
-
-
-
-
-
-
22.38
-
-
-
-
-
22.38
-
59
C 1061 Manufacture of grain mill
products
-
-
-
-
-
-
13.25
-
-
-
-
-
13.25
-
60
C 1071 Manufacture of bread;
manufacture of fresh pastry goods
and cakes
-
-
-
-
-
-
0.41
-
-
-
-
-
0.41
-
61
C 1072 Manufacture of rusks and
biscuits; manufacture of
preserved pastry goods and cakes
-
-
-
-
-
-
10.49
-
-
-
-
-
10.49
-
62
C 1105 Manufacture of beer
-
-
-
-
-
-
2.79
-
-
-
-
-
2.79
-
63
C 1107 Manufacture of tobacco
products
-
-
-
-
-
-
168.86
-
-
-
-
-
168.86
-
64
C 1413 Manufacture of other
outerwear
-
-
-
-
-
-
0.60
-
-
-
-
-
0.60
-
65
C 1520 Manufacture of footwear
-
-
-
-
-
-
-
-
-
-
-
-
-
-
66
C 1712 Manufacture of paper and
paperboard
-
-
-
-
-
-
23.41
-
-
-
-
-
23.41
-
67
C 2110 Manufacture of basic
pharmaceutical products
-
-
-
-
-
-
-
-
33.74
-
-
-
33.74
-
68
C 2120 Manufacture of
pharmaceutical preparations
-
-
-
-
-
-
-
-
0.33
-
-
-
0.33
-
69
C 3102 Manufacture of kitchen
furniture
-
-
-
-
-
-
8.10
-
-
-
-
-
8.10
-
346
Sustainability Statement 2024, Banca Transilvania Financial Group
2. GAR – Information by Sector (Turnover)
Breakdown by sector - NACE 4 digits level
(code and label)
Year end at 31.12.2024
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL
(CCM + CCA + WTR + CE + PPC + BIO)
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCA)
Mn RON
Of which
environmentally
sustainable
(CCA)
Mn RON
Of which
environmentally
sustainable
(WTR)
Mn RON
Of which
environmentally
sustainable
(WTR)
Mn RON
Of which
environmentally
sustainable
(CE)
Mn RON
Of which
environmentally
sustainable
(CE)
Mn RON
Of which
environmentally
sustainable
(PPC)
Mn RON
Of which
environmentally
sustainable
(PPC)
Mn RON
Of which
environmentally
sustainable
(BIO)
Mn RON
Of which
environmentally
sustainable
(BIO)
Mn RON
Of which
environmentally
sustainable
(CCM + CCA +
WTR + CE +
PPC + BIO)
Mn RON
Of which
environmentally
sustainable
(CCM + CCA +
WTR + CE +
PPC + BIO)
70
C 3109 Manufacture of other
furniture
-
-
-
-
-
-
23.70
-
-
-
-
-
23.70
-
71
G 4621 Wholesale of grain,
unmanufactured tobacco, seeds
and animal feeds
-
-
-
-
-
-
1.05
-
-
-
-
-
1.05
-
72
G 4635 Wholesale of tobacco
products
-
-
-
-
-
-
2.78
-
-
-
-
-
2.78
-
73
G 4639 Non-specialised
wholesale of food, beverages and
tobacco
-
-
-
-
-
-
24.85
-
-
-
-
-
24.85
-
74
G 4645 Wholesale of perfume and
cosmetics
-
-
-
-
-
-
-0.04
-
-
-
-
-
-0.04
-
75
G 4646 Wholesale of
pharmaceutical goods
-
-
-
-
-
-
1.87
-
-
-
-
-
1.87
-
76
G 4671 Wholesale of solid, liquid
and gaseous fuels and related
products
-
-
-
-
-
-
0.26
-
-
-
-
-
0.26
-
77
G 4673 Wholesale of wood,
construction materials and
sanitary equipment
-
-
-
-
-
-
0.49
-
-
-
-
-
0.49
-
78
G 4674 Wholesale of hardware,
plumbing and heating equipment
and supplies
-
-
-
-
-
-
-
-
-
-
-
-
-
-
79
G 4677 Wholesale of waste and
scrap
-
-
-
-
-
-
2.96
-
-
-
-
-
2.96
-
80
G 4690 Non-specialised
wholesale trade
-
-
-
-
-
-
10.11
-
-
-
-
-
10.11
-
81
G 4711 Retail sale in non-
specialised stores with food,
beverages or tobacco
predominating
-
-
-
-
-
-
1,327.05
-
-
-
-
-
1,327.05
-
82
G 4719 Other retail sale in non-
specialised stores
-
-
-
-
-
-
0.66
-
-
-
-
-
0.66
-
83
G 4742 Retail sale of
telecommunications equipment in
specialised stores
-
-
-
-
-
-
0.37
-
-
-
-
-
0.37
-
84
G 4752 Retail sale of hardware,
paints and glass in specialised
stores
-
-
-
-
-
-
42.06
-
-
-
-
-
42.06
-
85
G 4754 Retail sale of electrical
household appliances in
specialised stores
-
-
-
-
-
-
92.57
-
-
-
-
-
92.57
-
86
G 4764 Retail sale of sporting
equipment in specialised stores
-
-
-
-
-
-
-
-
-
-
-
-
-
-
87
G 4773 Dispensing chemist in
specialised stores
-
-
-
-
-
-
1.25
-
-
-
-
-
1.25
-
88
G 4778 Other retail sale of new
goods in specialised stores
-
-
-
-
-
-
0.36
-
-
-
-
-
0.36
-
89
I 5510 Hotels and similar
accommodation
-
-
-
-
-
-
2.45
-
-
-
-
-
2.45
-
90
O 8425 Fire service activities
-
-
-
-
-
-
-
-
-
-
42.39
-
42.39
-
91
Q 8690 Other human health
activities
-
-
1.03
-
-
-
-
-
-
-
-
-
1.03
-
92
G 4775 Retail sale of cosmetic and
toilet articles in specialised stores
-
-
1.00
-
-
-
-
-
-
-
-
-
1.00
-
93
H 4950 Transport via pipeline
-
-
-
-
-
-
-
-
-
-
-
-
0.00
-
347
Sustainability Statement 2024, Banca Transilvania Financial Group
2. GAR – Information by sector (CapEx)
Breakdown by sector - NACE 4 digits level
(code and label)
Year End at 31.12.2024
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL
(CCM + CCA + WTR + CE + PPC + BIO)
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCA)
Mn RON
Of which
environmentally
sustainable
(CCA)
Mn RON
Of which
environmentally
sustainable
(WTR)
Mn RON
Of which
environmentally
sustainable
(WTR)
Mn RON
Of which
environmentally
sustainable
(CE)
Mn RON
Of which
environmentally
sustainable
(CE)
Mn RON
Of which
environmentally
sustainable
(PPC)
Mn RON
Of which
environmentally
sustainable
(PPC)
Mn RON
Of which
environmentally
sustainable
(BIO)
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCM + CCA +
WTR + CE +
PPC + BIO)
Mn RON
Of which
environmentally
sustainable
(CCM + CCA +
WTR + CE +
PPC + BIO)
1
H 4950 Transport via pipeline
519.03
276.21
-
-
-
-
-
-
-
-
-
-
519.03
276.21
2
C 2910 Manufacture of motor
vehicles
288.41
-
-
-
-
-
-
-
-
-
-
-
288.41
-
3
F 4120 Construction of residential
and non-residential buildings
245.06
-
-
-
-
-
-
-
-
-
-
-
245.06
-
4
D 3522 Distribution of gaseous
fuels through mains
237.15
0.04
-
-
-
-
-
-
-
-
-
-
237.15
0.04
5
D 3523 Trade of gas through
mains
228.09
78.11
-
-
-
-
-
-
-
-
-
-
228.09
78.11
6
C 2442 Aluminium production
159.11
-
-
-
-
-
-
-
-
-
-
-
159.11
-
7
C 2751 Manufacture of electric
domestic appliances
194.85
-
-
-
-
-
-
-
-
-
-
-
194.85
-
8
H 5320 Other postal and courier
activities
183.82
-
-
-
-
-
-
-
-
-
-
-
183.82
-
9
D 3514 Trade of electricity
2.42
-
-
-
-
-
-
-
-
-
-
-
2.42
-
10
D 3513 Distribution of electricity
84.20
15.39
-
-
-
-
-
-
-
-
-
-
84.20
15.39
11
C 2221 Manufacture of plastic
plates, sheets, tubes and profiles
134.50
-
-
-
-
-
-
-
-
-
-
-
134.50
-
12
C 2361 Manufacture of concrete
products for construction
purposes
127.36
-
-
-
-
-
-
-
-
-
-
-
127.36
-
13
N 7711 Renting and leasing of cars
and light motor vehicles
124.95
-
-
-
-
-
-
-
-
-
-
-
124.95
-
14
J 6110 Wired telecommunications
activities
124.33
-
-
-
-
-
-
-
-
-
-
-
124.33
-
15
C 2223 Manufacture of builders'
ware of plastic
85.81
-
-
-
-
-
-
-
-
-
-
-
85.81
-
16
J 6120 Wireless
telecommunications activities
0.16
-
-
-
-
-
-
-
-
-
-
-
0.16
-
17
C 3020 Manufacture of railway
locomotives and rolling stock
55.89
-
-
-
-
-
-
-
-
-
-
-
55.89
-
18
C 2511 Manufacture of metal
structures and parts of structures
49.98
-
-
-
-
-
-
-
-
-
-
-
49.98
-
19
H 5110 Passenger air transport
43.62
-
-
-
-
-
-
-
-
-
-
-
43.62
-
20
C 2932 Manufacture of other parts
and accessories for motor vehicles
41.63
-
-
-
-
-
147.01
-
-
-
-
-
188.64
-
21
H 4920 Freight rail transport
36.25
-
-
-
-
-
-
-
-
-
-
-
36.25
-
22
C 2732 Manufacture of other
electronic and electric wires and
cables
34.93
-
-
-
-
-
-
-
-
-
-
-
34.93
-
23
C 2363 Manufacture of ready-
mixed concrete
22.72
-
-
-
-
-
-
-
-
-
-
-
22.72
-
24
E 3811 Collection of non-
hazardous waste
16.43
-
-
-
-
-
(0.01)
-
-
-
-
-
16.42
-
25
C 2612 Manufacture of loaded
electronic boards
15.89
-
-
-
-
-
-
-
-
-
-
-
15.89
-
26
C 2015 Manufacture of fertilisers
and nitrogen compounds
15.55
-
-
-
-
-
-
-
-
-
-
-
15.55
-
27
H 5224 Cargo handling
7.60
-
-
-
-
-
-
-
-
-
-
-
7.60
-
28
F 4321 Electrical installation
7.73
-
-
-
-
-
-
-
-
-
-
-
7.73
-
29
E 3600 Water collection, treatment
and supply
6.42
-
-
-
-
-
-
-
-
-
-
-
6.42
-
30
C 3030 Manufacture of air and
spacecraft and related machinery
5.86
-
-
-
-
-
-
-
-
-
-
-
5.86
-
31
C 2341 Manufacture of ceramic
household and ornamental articles
4.86
-
-
-
-
-
-
-
-
-
-
-
4.86
-
32
H 4931 Urban and suburban
passenger land transport
4.65
-
-
-
-
-
-
-
-
-
-
-
4.65
-
33
C 2815 Manufacture of bearings,
gears, gearing and driving
elements
3.24
-
-
-
-
-
-
-
-
-
-
-
3.24
-
34
M 7120 Technical testing and
analysis
3.16
-
-
-
-
-
-
-
-
-
-
-
3.16
-
35
M 7112 Engineering activities and
related technical consultancy
3.08
-
-
-
-
-
-
-
-
-
-
-
3.08
-
36
F 4222 Construction of utility
projects for electricity and
telecommunications
2.26
-
-
-
-
-
-
-
-
-
-
-
2.26
-
348
Sustainability Statement 2024, Banca Transilvania Financial Group
2. GAR – Information by sector (CapEx)
Breakdown by sector - NACE 4 digits level
(code and label)
Year End at 31.12.2024
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL
(CCM + CCA + WTR + CE + PPC + BIO)
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCA)
Mn RON
Of which
environmentally
sustainable
(CCA)
Mn RON
Of which
environmentally
sustainable
(WTR)
Mn RON
Of which
environmentally
sustainable
(WTR)
Mn RON
Of which
environmentally
sustainable
(CE)
Mn RON
Of which
environmentally
sustainable
(CE)
Mn RON
Of which
environmentally
sustainable
(PPC)
Mn RON
Of which
environmentally
sustainable
(PPC)
Mn RON
Of which
environmentally
sustainable
(BIO)
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCM + CCA +
WTR + CE +
PPC + BIO)
Mn RON
Of which
environmentally
sustainable
(CCM + CCA +
WTR + CE +
PPC + BIO)
37
L 6832 Management of real estate
on a fee or contract basis
1.44
-
-
-
-
-
-
-
-
-
-
-
1.44
-
38
H 4910 Passenger rail transport,
interurban
1.05
-
-
-
-
-
-
-
-
-
-
-
1.05
-
39
C 2572 Manufacture of locks and
hinges
0.96
-
-
-
-
-
-
-
-
-
-
-
0.96
-
40
C 2351 Manufacture of cement
0.93
-
-
-
-
-
-
-
-
-
-
-
0.93
-
41
C 2420 Manufacture of tubes,
pipes, hollow profiles and related
fittings, of steel
0.70
-
-
-
-
-
-
-
-
-
-
-
0.70
-
42
C 2611 Manufacture of electronic
components
0.69
-
-
-
-
-
-
-
-
-
-
-
0.69
-
43
J 6311 Data processing, hosting
and related activities
0.23
-
-
-
-
-
-
-
-
-
-
-
0.23
-
44
C 2813 Manufacture of other
pumps and compressors
0.22
-
-
-
-
-
-
-
-
-
-
-
0.22
-
45
C 2229 Manufacture of other
plastic products
0.22
-
-
-
-
-
-
-
-
-
-
-
0.22
-
46
H 4941 Freight transport by road
0.18
-
-
-
-
-
-
-
-
-
-
-
0.18
-
47
C 3011 Building of ships and
floating structures
0.16
-
-
-
-
-
-
-
-
-
-
-
0.16
-
48
C 2550 Forging, pressing,
stamping and roll-forming of
metal; powder metallurgy
0.12
-
-
-
-
-
-
-
-
-
-
-
0.12
-
49
C 2931 Manufacture of electrical
and electronic equipment for
motor vehicles
0.09
-
142.47
-
-
-
-
-
-
-
-
-
142.56
-
50
F 4211 Construction of roads and
motorways
0.07
-
-
-
-
-
-
-
-
-
-
-
0.07
-
51
F 4299 Construction of other civil
engineering projects n.e.c.
-
-
-
-
-
-
-
-
-
-
-
-
-
-
52
C 2825 Manufacture of non-
domestic cooling and ventilation
equipment
-
-
-
-
-
-
-
-
-
-
-
-
-
-
53
C 3317 Repair and maintenance of
other transport equipment
-
-
-
-
-
-
-
-
-
-
-
-
-
-
54
D 3511 Production of electricity
-0.72
-
-
-
-
-
-
-
-
-
-
-
-0.72
-
55
H 5310 Postal activities under
universal service obligation
-0.05
-
2.36
-
-
-
-
-
-
-
-
-
2.31
-
56
B 0910 Support activities for
petroleum and natural gas
extraction
-
-
-
-
-
-
-
-
-
-
-
-
-
-
57
C 1011 Processing and preserving
of meat
-
-
-
-
-
-
31.67
-
-
-
-
-
31.67
-
58
C 1012 Processing and preserving
of poultry meat
-
-
-
-
-
-
86.64
-
-
-
-
-
86.64
-
59
C 1013 Production of meat and
poultry meat products
-
-
-
-
-
-
22.38
-
-
-
-
-
22.38
-
60
C 1061 Manufacture of grain mill
products
-
-
-
-
-
-
13.25
-
-
-
-
-
13.25
-
61
C 1071 Manufacture of bread;
manufacture of fresh pastry goods
and cakes
-
-
-
-
-
-
0.41
-
-
-
-
-
0.41
-
62
C 1072 Manufacture of rusks and
biscuits; manufacture of
preserved pastry goods and cakes
-
-
-
-
-
-
10.49
-
-
-
-
-
10.49
-
63
C 1105 Manufacture of beer
-
-
-
-
-
-
2.79
-
-
-
-
-
2.79
-
64
C 1107 Manufacture of tobacco
products
-
-
-
-
-
-
168.86
-
-
-
-
-
168.86
-
65
C 1413 Manufacture of other
outerwear
-
-
-
-
-
-
0.60
-
-
-
-
-
0.60
-
66
C 1520 Manufacture of footwear
-
-
-
-
-
-
-
-
-
-
-
-
-
-
67
C 1712 Manufacture of paper and
paperboard
-
-
-
-
-
-
23.41
-
-
-
-
-
23.41
-
68
C 2110 Manufacture of basic
pharmaceutical products
-
-
-
-
-
-
-
-
33.74
-
-
-
33.74
-
69
C 2120 Manufacture of
pharmaceutical preparations
-
-
-
-
-
-
-
-
0.33
-
-
-
0.33
-
70
C 3102 Manufacture of kitchen
furniture
-
-
-
-
-
-
8.10
-
-
-
-
-
8.10
-
349
Sustainability Statement 2024, Banca Transilvania Financial Group
2. GAR – Information by sector (CapEx)
Breakdown by sector - NACE 4 digits level
(code and label)
Year End at 31.12.2024
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL
(CCM + CCA + WTR + CE + PPC + BIO)
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
Non-Financial corporates
(Subject to NFRD)
SMEs and other NFC not
subject to NFRD
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCA)
Mn RON
Of which
environmentally
sustainable
(CCA)
Mn RON
Of which
environmentally
sustainable
(WTR)
Mn RON
Of which
environmentally
sustainable
(WTR)
Mn RON
Of which
environmentally
sustainable
(CE)
Mn RON
Of which
environmentally
sustainable
(CE)
Mn RON
Of which
environmentally
sustainable
(PPC)
Mn RON
Of which
environmentally
sustainable
(PPC)
Mn RON
Of which
environmentally
sustainable
(BIO)
Mn RON
Of which
environmentally
sustainable
(CCM)
Mn RON
Of which
environmentally
sustainable
(CCM + CCA +
WTR + CE +
PPC + BIO)
Mn RON
Of which
environmentally
sustainable
(CCM + CCA +
WTR + CE +
PPC + BIO)
71
C 3109 Manufacture of other
furniture
-
-
-
-
-
-
23.70
-
-
-
-
-
23.70
-
72
G 4621 Wholesale of grain,
unmanufactured tobacco, seeds
and animal feeds
-
-
-
-
-
-
1.05
-
-
-
-
-
1.05
-
73
G 4635 Wholesale of tobacco
products
-
-
-
-
-
-
2.78
-
-
-
-
-
2.78
-
74
G 4639 Non-specialised
wholesale of food, beverages and
tobacco
-
-
-
-
-
-
24.85
-
-
-
-
-
24.85
-
75
G 4645 Wholesale of perfume and
cosmetics
-
-
-
-
-
-
-0.04
-
-
-
-
-
-0.04
-
76
G 4646 Wholesale of
pharmaceutical goods
-
-
-
-
-
-
2.18
-
-
-
-
-
2.18
-
77
G 4671 Wholesale of solid, liquid
and gaseous fuels and related
products
-
-
-
-
-
-
0.26
-
-
-
-
-
0.26
-
78
G 4673 Wholesale of wood,
construction materials and
sanitary equipment
-
-
-
-
-
-
0.49
-
-
-
-
-
0.49
-
79
G 4674 Wholesale of hardware,
plumbing and heating equipment
and supplies
-
-
-
-
-
-
-
-
-
-
-
-
-
-
80
G 4677 Wholesale of waste and
scrap
-
-
-
-
-
-
2.96
-
-
-
-
-
2.96
-
81
G 4690 Non-specialised
wholesale trade
-
-
-
-
-
-
10.11
-
-
-
-
-
10.11
-
82
G 4711 Retail sale in non-
specialised stores with food,
beverages or tobacco
predominating
-
-
-
-
-
-
1,384.03
0.55
-
-
-
-
1,384.03
0.55
83
G 4719 Other retail sale in non-
specialised stores
-
-
-
-
-
-
0.66
-
-
-
-
-
0.66
-
84
G 4742 Retail sale of
telecommunications equipment in
specialised stores
-
-
-
-
-
-
0.37
-
-
-
-
-
0.37
-
85
G 4752 Retail sale of hardware,
paints and glass in specialised
stores
-
-
-
-
-
-
42.06
-
-
-
-
-
42.06
-
86
G 4754 Retail sale of electrical
household appliances in
specialised stores
-
-
-
-
-
-
92.57
-
-
-
-
-
92.57
-
87
G 4764 Retail sale of sporting
equipment in specialised stores
-
-
-
-
-
-
-
-
-
-
-
-
-
-
88
G 4773 Dispensing chemist in
specialised stores
-
-
-
-
-
-
1.25
-
-
-
-
-
1.25
-
89
G 4778 Other retail sale of new
goods in specialised stores
-
-
-
-
-
-
2.45
-
-
-
-
-
2.45
-
90
I 5510 Hotels and similar
accommodation
-
-
1.03
-
-
-
-
-
-
-
42.39
-
43.42
-
91
O 8425 Fire service activities
-
-
1.00
-
-
-
-
-
-
-
-
-
1.00
-
92
Q 8690 Other human health
activities
-
-
-
-
-
-
-
-
-
-
-
-
-
-
93
G 4775 Retail sale of cosmetic and
toilet articles in specialised stores
-
-
-
-
-
-
0.36
-
-
-
-
-
0.36
-
350
Sustainability Statement 2024, Banca Transilvania Financial Group
3. GAR KPI concerning stock (Turnover)
% (compared to total covered assets in the denominator)
Year End at 31.12.2024
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL
(CCM + CCA + WTR + CE + PPC + BIO)
Proportion
of total
assets
covered
Proportion of total covered assets funding taxonomy relevant sectors
(Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy relevant sectors
(Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-aligned)
Of which
Use of
Proceeds
Of which
transitional
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator and
denominator
1
Loans and advances, debt securities and equity
instruments not HfT eligible for GAR calculation
9.81%
4.83%
4.80%
-
0.18%
3.35%
0.02%
-
-
-
-
-
-
3.87%
-
-
-
0.06%
-
-
-
0.08%
-
-
-
17.03%
4.83%
4.80%
-
0.18%
49.75%
2
Financial undertakings
-
-
-
-
-
-
0.09%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
11.98%
3
Credit institutions
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
9.00%
4
Loans and advances
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6.90%
5
Debt securities, including UoP
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2.10%
6
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7
Other financial corporations
-
-
-
-
-
-
0.36%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2.98%
8
of which investment firms
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1.69%
9
Loans and advances
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10
Debt securities, including UoP
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1.55%
11
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
0.14%
12
of which management companies
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
13
Loans and advances
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
14
Debt securities, including UoP
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
15
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
16
of which insurance undertakings
-
-
-
-
-
-
17.31%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
0.06%
17
Loans and advances
-
-
-
-
-
-
17.31%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
0.06%
18
Debt securities, including UoP
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
19
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
20
Non-financial undertakings
39.31%
1.34%
1.12%
-
1.34%
2.12%
-
-
-
-
-
-
-
29.53%
-
-
-
0.49%
-
-
-
0.61%
-
-
-
71.00%
1.34%
1.12%
-
1.34%
6.52%
21
Loans and advances
38.66%
1.35%
1.14%
-
1.35%
2.14%
-
-
-
-
-
-
-
29.85%
-
-
-
0.50%
-
-
-
0.62%
-
-
-
71.76%
1.35%
1.14%
-
1.35%
6.45%
22
Debt securities, including UoP
100.00%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
0.07%
23
Equity instruments
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
24
Households
9.48%
9.48%
9.48%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
9.48%
9.48%
9.48%
-
-
24.41%
25
of which loans collateralised by
residential immovable property
9.52%
9.52%
9.52%
-
-
-
-
-
-
-
-
-
-
2.31%
2.31%
2.31%
-
-
24.32%
26
of which building renovation
loans
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
27
of which motor vehicle loans
-
-
-
-
-
0.09%
28
Local governments financing
0.05%
-
-
-
-
22.31%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
22.36%
-
-
-
-
6.84%
29
Housing financing
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
30
Other local government financing
0.05%
-
-
-
-
22.31%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
22.36%
-
-
-
-
6.84%
31
Collateral obtained by taking possession:
residential and commercial immovable
properties
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
0.04%
32
Total GAR assets
4.88%
2.40%
2.39%
-
0.09%
1.66%
0.01%
-
-
-
-
-
-
1.92%
-
-
-
0.03%
-
-
-
0.04%
-
-
-
8.47%
2.40%
2.39%
-
0.09%
49.79%
351
Sustainability Statement 2024, Banca Transilvania Financial Group
3. GAR KPI concerning stock (CapEx)
% (compared to total covered assets in the denominator)
Year End at 31.12.2024
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL
(CCM + CCA + WTR + CE + PPC + BIO)
Proportion
of total
assets
covered
Proportion of total covered assets funding taxonomy relevant sectors
(Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy relevant sectors
(Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-aligned)
Of which
Use of
Proceeds
Of which
transitional
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
enabling
Of which
Use of
Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator and
denominator
1
Loans and advances, debt securities and equity
instruments not HfT eligible for GAR calculation
10.70%
5.35%
4.80%
-
0.70%
3.35%
0.02%
-
-
-
-
-
-
3.98%
-
-
-
0.06%
-
-
-
0.08%
-
-
-
18.03%
5.35%
4.80%
-
0.70%
49.75%
2
Financial undertakings
-
-
-
-
-
-
0.09%
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
11.98%
3
Credit institutions
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
9.00%
4
Loans and advances
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-