The Board of Directors of Banca Transilvania has decided to propose to the General Meeting of Shareholders the distribution of profit for 2015 by paying a special cash dividend and by issuing bonus shares. This is only the second time in the past 20 years that BT has paid a cash dividend. The decision is based both on Banca Transilvania’s positive 2015 results and on BT’s capital surplus.

Horia Ciorcila, Chairman of the Board of Directors of Banca Transilvania, said: “Over the past 20 years, our bank has consistently supported hundreds of thousands of companies in achieving their business objectives. Banca Transilvania paid a cash dividend only once, in the amount of 50 million lei, in 2009, while pursuing a policy of reinvesting earnings to ensure sustainable growth. At the same time, in the crisis years 2008 to 2015, the bank was among the largest contributors to the state budget, paying 2.7 billion lei in direct and indirect taxes. In line with the exceptional results achieved in 2015, driven by the consolidation of BT’s business, we are proposing dividends for all of BT’s nearly 28,000 shareholders, with thanks for the trust they have placed in us.”

Ömer Tetik, Chief Executive Officer of Banca Transilvania, said: “Banca Transilvania has a capital surplus which, under a prudent and responsible approach, will allow good returns. Beyond this special dividend, BT will continue to invest in financing growth by reinvesting earnings. The bank has big plans and is entering a new stage of development, strengthening itself as a platform for financing the economy — from individuals to large corporates.”

Key facts regarding BT’s proposal for the distribution of profit:

• Net profit for distribution: 2,417,668,444 lei
• Dividends to be paid: 1,200,000,000 lei
• Share capital increase of 620,000,000 lei by issuing bonus shares

The gross dividend per share will be 0.39 lei.

The General Meeting of Shareholders, which will have approval of this proposal on its agenda, is convened for April 27 this year, and April 28 this year - the second call.