Dear shareholders,

As these are times no one could have imagined, I would like to share how we at Banca Transilvania see the new reality for BT and our stakeholders, what we are doing for Romanians, and how we have taken part in the fight against COVID-19 to help people, hospitals and the country.

In the 26 years since our story began, Banca Transilvania has reinvested in Romania—into responsible, sustainable growth—almost all of the profit generated, and in doing so we have been able to support the economy, companies, entrepreneurs and the ambitions of Romanians. All of this has prepared us for challenges like those we all face today.

The current environment is a challenge for Banca Transilvania as well. It is a fresh reinvention for BT, the fourth in our story—in fact, an adaptation to an unprecedented situation. From the outset of the crisis, our stance has been proactive—supporting the bank’s customers, employees and partners. More than 500,000 customers are benefiting from the measures and relief we prioritised and announced early on, which are now helping them move forward.

Solidarity. More than banking
We are glad that we have been able to contribute EUR 2 million to hospitals and communities in more than 30 localities, to support prevention efforts, limit the spread of the pandemic and increase people’s access to testing and treatment.

First and foremost, we put measures in place to protect the safety and health of our customers and employees. We did everything possible to keep customers’ access to funds and services: more than 400 BT branches are open, ATMs are being kept supplied at all times, and we offer many self-service options. We have continued to finance individuals and businesses. We accelerated online banking projects: in practice, we reset our entire launch calendar for this period, teams mobilised, and we came out with new solutions for customers—from opening an account remotely, to enhancements in phone banking, to helping entrepreneurs move their businesses online so they can keep selling.

The new math
With minuses and pluses, more than ever the numbers now stand for people—employees, patients, heroes. Confidence—our plus—comes first from within. On the front line or working from home, in branches or at headquarters, by e‑mail or by phone, the Banca Transilvania team is at its posts for our customers. Confidence also comes from customers and shareholders, who value the bank’s trajectory and what we do.

What gives us confidence
The bank’s financial position, strong liquidity and capitalisation, our sustainable approach, and the investments we have already made in digital are helping us navigate this period with confidence. Moreover, without all of this we would not have been able to support customers affected by the current economic and social environment.

What we have built at BT so far—from the founders’ bold vision, which became the country’s largest bank—gives us confidence, especially because we know we are one of the pillars Romania leans on and that we are part of the lives of over 3 million customers and 10,000 employees.

With entrepreneurship in our DNA, Banca Transilvania’s commitment is to keep financing the economy
We know the bank’s responsibilities in the collective effort to get through this period. We are confident we will succeed thanks to our strengths: our relationships with customers, investors and employees; the bank’s capitalisation; our prudent approach; and our capabilities and team experience.

I would like to thank the bank’s shareholders for their confidence in Banca Transilvania’s ability to manage the new reality, to support Romania’s economy and to continue the healthy development of the bank, generating long-term value for all parties involved. We are pleased that Banca Transilvania is a benchmark for Romania’s capital market and that a large number of investors from other countries also support our strategy and plans.

My thanks go to the entire BT team for their dedication and engagement. All of them have been, and continue to be, on the front line to offer Romanians a sense of normality during this period. It is a testament to their mobilisation, responsibility, solidarity and commitment to Banca Transilvania.

We all had—and must continue to have—plans and dreams. Stay strong, Romania!

Horia Ciorcila
Chairman of the Board of Directors, Banca Transilvania