Financing companies and individuals, higher operating activity and attracting new clients were BT’s growth engines in 2023

2023 was a challenging year, following the pandemic and given Romania’s proximity to a war zone, with rising costs for households and businesses. Despite this, Banca Transilvania took on the role of leader and trailblazer, improving service quality, supporting clients and providing the backing needed for the growth of the national economy.

• BT extended RON 23 billion in corporate lending and RON 10 billion in retail lending. 
• More than 270,000 new loans were granted last year. 
• The bank was the largest partner in the government programmes launched in 2023, with  more than RON 3.35 billion in financing.
• The number of active clients reached 4.2 million. The bank attracted 623,000 new clients in 2023, of whom 93,000 are companies and 530,000 are individuals.
• The corporate income tax paid by BT to the state in 2023 accounted for almost 2% of all corporate income tax collected by the state from companies in Romania. Total taxes and duties paid by Banca Transilvania in 2023 exceed RON 1.2 billion.
• Over five years, from the end of 2018 to the end of 2023, BT doubled its assets, loans and deposits, while the active client base grew by almost 50%.

“We accelerated the growth of the Banca Transilvania Group in 2023, continuing, as before, to focus on high volumes. Financing companies and individuals, higher operating activity and attracting new clients were the bank’s engines last year, which drives economies of scale and greater efficiency and allows us to offer clients ever better terms in every respect. We are here to continue supporting the development of the economy, to contribute to people’s prosperity and to increase financial inclusion. The bank’s profitability helps us take our plans further, pursue the BT Group’s growth across all the segments where we are active, and develop in new ones as well”, says Horia Ciorcilă, Chairman of the Board, BT. 

Assets of the BT Financial Group reached RON 169.2 billion at the end of last year. Loans rose to RON 75.6 billion, and client deposits reached RON 138.1 billion. Net profit for the BT Financial Group was RON 2,984.5 million, up 20% versus 2022, of which the bank’s net profit was RON 2,491 million, 14% higher than in 2022. Operating profit at the bank increased to RON 3,501.7 million, up 29.8% versus 2022. Operating efficiency at BT, as reflected in the cost-to-income ratio, improved to 45.6% thanks to effective cost management and greater efficiency through process digitalization.

Business lines: 2023 developments

• The number of cards reached 6 million, and transactions made with them in 2023 were up 22% versus 2022.
• BT has more than 3.7 million unique digital clients, representing 89% of active clients.
• The number of mobile payments rose by 48% in 2023 compared to 2022.
• More than 16,000 people bought homes with BT’s support, with approximately RON 4.7 billion extended. The outstanding mortgage/real estate loan book stands at RON 18.7 billion, up 10% versus December 2022, representing 25% of the loan portfolio.
• 110,000 consumer loans, totaling approximately RON 4.4 billion, were granted in 2023.
• The bank extended over 21,000 new loans, totaling RON 5.6 billion, to more than  441,000 SME & Micro clients. The number of new loans granted by the bank increased by almost 6% in 2023 versus 2022, with the strongest growth in the Large Corporate and SME segments. 
• The bank’s gross loan book increased by approximately 13%, including a significant rise of over 15% in corporate loans. More than half of the growth was generated by working capital financing. Retail lending volumes were up nearly 9%.

Other financial information of Banca Transilvania

The non-performing exposure ratio was 1.98% at 31 December 2023, and total provision coverage of non-performing exposures was 203%. As of December 2023, ROE exceeded the banking system average of 20.4%, reaching 24.4% on an individual basis. BT’s total capital ratio including profit was 23.58%, and 21.61% excluding the profit for the second half of 2023.

Since 2023, the bank has been rated by two international rating agencies, Moody’s and Fitch. As capital requirements in Romania and the European Union become increasingly stringent, these ratings support BT’s efforts to maintain the best possible cost of capital.

Banca Transilvania Group continued to strengthen

• BT Leasing & Țiriac Leasing became a single company in 2023. The merger had a positive impact on the business: BTL reached 25,000 clients and a portfolio of EUR 500 million.
• BT Mic reached an outstanding loan book of RON 1 billion and has over 18,000 clients, making it the largest microfinance company in the country.
• BT Asset Management reached assets under management of RON 4.5 billion, and BT Maxim was the best-performing equity fund in Romania in 2023.
• BT Capital Partners was Co-Lead Manager for the Hidroelectrica IPO worth EUR 1.9 billion and Lead Manager of the consortium that arranged the first capital markets financing of the Cluj County Council, worth EUR 75.6 million.
• BT Pensii ranked among the top 3 voluntary pension providers by the number of new clients attracted. Nearly 15,000 new participants joined in 2023.
• With 200,000 active cards, BT Direct became the largest card issuer in this sector in 2023.
• Code Crafters continued to expand its capacity to deliver solutions used in the banking industry, both by growing the team and by diversifying technologies.

2024: 

• Agreement to acquire OTP Bank România and its subsidiaries in Romania 

Banca Transilvania signed an agreement with OTP Group in February this year to acquire OTP Bank România and its subsidiaries in Romania. Closing is estimated in a few months, after obtaining the necessary approvals from the authorities, and the total price to be paid by BT is EUR 347.5 million. OTP Bank România has a 2.64% market share, over 440,000 clients, 1,800 employees and almost 100 branches.

• Victoriabank acquired BCR Chișinău

Victoriabank, a bank in the Republic of Moldova and part of the BT Group, completed the acquisition of BCR Chișinău in January this year.

• Idea::Broker de Asigurare became BT Broker de Asigurare

Idea::Broker de Asigurare, a company acquired by BT Leasing from Idea::Leasing in 2023, became BT Broker de Asigurare in February this year. Banca Transilvania Group has ambitious plans for this segment starting this year.


Investors wishing to participate in the conference call on the preliminary financial results for 2023, organized by BT on 28 February this year, at 16:00 (Romania time), are required to send a request by email to the following address: investor.relations@btrl.ro.

The 2023 preliminary financial results (including in editable format) are available on the BT/Investor Relations website on 26 February this year, starting at 18:00. The preliminary financial statements as at 31.12.2023 are unaudited and not reviewed, while those as at 31.12.2022 are audited.