Upon the publication of the Group’s financial results for the first half of 2025, the bank held an investor video conference in August 2025, during which Ömer Tetik, CEO of Banca Transilvania, commented on the impact on BT of the doubling of the turnover tax.

Context:

Starting July 1, 2025, the turnover tax paid by banks in Romania increased from 2% to 4%, and the measure will remain in place in 2026 as well.

Impact on BT:

The doubling of the bank turnover tax has an impact of approximately 500 million lei for Banca Transilvania, but it does not change BT’s plans to meet the budget targets for 2025. So far, in 2024, the bank’s contribution to the budget in the form of this tax has been approximately 270 million lei.

Remarks by BT’s Chief Executive Officer during the bank’s investor video conference: 

• Despite the exceptional events in the first quarter of 2025 and what may happen in the months ahead, we still believe that the budget, which was presented and approved by shareholders in April and which is our target, will be achieved.
• Looking at the figures for business growth and revenues, we are confident that we will reach these numbers with hard work, but without issues.
• We have had a few exceptional situations; we also have potential recoveries or adjustments to our provisions. We do not expect provisions or provision expenses to grow exponentially. As for the level of provisions, as mentioned, we aim to keep them within the budget, which is around 600 million lei.
• With the new changes to the tax code, there is also some pressure related to VAT—by a few percentage points, but still significant. We observed that transactions accelerated at the start of the summer. Now, as we look at the third-quarter figures and when we present them, the numbers will still be solid. Even so, we believe both households and the market will adapt to the new conditions, to the new reality.
• I think competition will increase, although we may not see the same numbers as in the last two years. Overall, we believe the real estate market will remain quite active going forward and, given the measures taken by the regulators, including the National Bank of Romania, we do not expect a significant increase in indebtedness, which is quite low, so we do not see the risk of a major real estate crisis that could affect the market through loan recoveries.
  
  

For 2025, compared to 2024, Banca Transilvania estimates: +14% in assets (to 210 billion lei), +19% in gross loans outstanding (to 104 billion lei), and +11% in net profit (to 3.9 billion lei).