Representatives of our top management took part again this year in ZF Bankers Summit 2020, the most important annual event dedicated to Romania’s banking industry, organized by Ziarul Financiar on July 14–15.

In a format adapted to the times — online — ZF Bankers brought together almost 30 participants — bankers, consultants, lawyers and analysts — who outlined the current picture of the banking system, the pandemic’s impact on the economy and scenarios for the recovery. Banca Transilvania was represented by Ömer Tetik, CEO, by Luminița Runcan, Deputy CEO, Chief Risk Officer, and by Gabriela Nistor, Deputy CEO Retail Banking.

BT statements:

Ömer Tetik, CEO:

• In recent years we’ve learned a lot about agility from fintechs. They are competitors for banks, but since the start of the pandemic banks have made major efforts on the technology side and ensured continuity, alongside new services. From what we’ve seen, customers have preferred trusted partners — the banks through which they receive their salaries and where they keep their deposits and loans.
• At BT we also accelerated digital projects during the pandemic to support remote banking. Technology is no longer a nice-to-have, but a must-have. BT Pay had 260,000 users last year, and now we’re approaching 1 million.
• BT after 4 months of a crisis triggered by the pandemic? We remain optimistic; we must be prudent and cautious, and we are trying to manage risks for shareholders and customers. From the second half of May, the recovery in the economy has been quite strong. In the recovery it’s important to bring as much as possible of the population and companies along, and to invest so as to increase long-term competitiveness. We are here to finance the economy and our customers.
• BT’s digital strategy: For every customer interaction, we think through the digital option as well. We are a branch-based bank, and through digital we aim to improve the customer experience.
• There is still a sense of fear when we think about investments and travel. People’s expectations are very high over a short period, which can generate resentment.
• We want to keep growing, as much as the market allows and as long as customers trust us. The 2008 crisis created an opportunity for BT, and the bank made very good use of it.
• We have no acquisition targets this year; I don’t think there will be sellers. We’ve built up the experience and capabilities to continue organic growth.

Ziarul Financiar: Ömer Tetik, CEO BT: "In recent years we have learned a lot from fintechs, but we’re delivering on our own plans too. In 2020 it’s almost impossible to talk about acquisitions. We are continuing organic growth."

Luminița Runcan, Deputy CEO, Chief Risk Officer:

• For individuals, we look closely at their debt burden. We focus on finding tailored solutions when there are signs of financial difficulty.
• For companies, we are cautious about financing cyclical industries and we assess the pandemic’s impact on sectors and on clients individually. It’s a matter of responsibility.
• How do we address new insolvencies? We are open to any restructuring options, and we can do that when creditors are open to it. Cooperation among banks is essential.
• The wave of regulation banks had to understand and implement in this period was very large, but we have tried to make things as simple as possible for customers, so that interacting with us is as easy as possible.
• Regulatory changes affecting banks and customers included legislative and non-legislative moratoria to support clients, IMM Invest, and preparing banks to support other government programs.

Ziarul Financiar: Luminița Runcan, Deputy CEO: "We can cope with a new wave of non-performing loans that may come. Banca Transilvania is very well capitalized."

Gabriela Nistor, Deputy CEO Retail Banking:

• The pandemic has generated or amplified several trends that we at the bank are ready to support. People have shifted online, which has led to a doubling of transactions. Customers, including merchants, have started to move away from cash.
• Other trends: spending on travel has fallen, and we estimate this tendency will last until next summer. On the other hand, people are starting to look at higher-spec devices — phones, laptops. We’ve seen that Romanians are planning home upgrades, more comfort, access to a garden. We estimate demand will increase for housing in the outskirts of large cities.
• In March–April, 150,000 BT customers made their first online card transaction.
• In March–April, online food orders +75%, online clothing orders +110%, and the number of users paying bills in apps doubled.
• We have reached over 30,000 cards from other banks enrolled in the BT Pay app.
• In June we launched an online campaign, #Goodvibesonly, and we received 4,000 online applications for mortgage loans.

Ziarul Financiar: Gabriela Nistor, Deputy CEO, BT: "The pandemic context led us to revisit the strategy. We reprioritized, looking at trends."

In conclusion, the pandemic has brought trends that Banca Transilvania is prepared to support. BT’s strategy has been revisited to prioritize what matters for customers and communities during this period. The bank has continued financing and launching digital features to support online banking and, at the same time, has contributed over 2 million euros to support hospitals and Romanians. Because it is well capitalized and has the right capabilities and experience, the bank’s representatives are optimistic about the period ahead and remain alongside customers.