Shareholders decided the composition of the Board of Directors for the 2022–2026 term

Banca Transilvania will pay cash dividends of 800 million lei to shareholders out of the 1.8 billion lei profit earned in 2021, following the decision of the General Meeting of Shareholders (GMS). At the GMS held on April 28 this year, shareholders elected the new Board of Directors for the 2022–2026 term. Horia Ciorcila, founder and Chairman of the Board, received his sixth consecutive term.

Under the new Board’s leadership, BT is targeting a leading position across all business lines, organic growth, new acquisitions, continued digitalisation and stronger synergies within the Banca Transilvania Financial Group.

Cash dividends for more than 40,000 shareholders

• 800 million lei, representing approximately 45% of 2021 profit, will be distributed by BT as dividends. The gross dividend per share is approximately 0.12 lei, equivalent to a 5% yield. The ex-date is June 3 this year, and the dividend payment date is June 16 this year.
• Banca Transilvania will increase its share capital by issuing 765 million shares with a nominal value of 1 leu, by incorporating reserves generated from the 2021 net profit. Approximately 12 bonus shares will be granted for every 100 shares held on the record date.

BT’s Board of Directors for the next four years: renewed terms and two new members

• Horia Ciorcila, founder and Chairman of the Board since 2002, received his sixth consecutive term.  
• Four Board members secured a new term from the shareholders: Thomas Grasse, Ivo Gueorguiev, Mirela Bordea and Vasile Puscas. The Board also has two new members, Lucyna Stanczak-Wuczynska and Florin Predescu Vasvari.
• Under the stewardship of the Board whose term ends in April this year, Banca Transilvania delivered a series of notable results:
• It became Romania’s largest bank;
• Market share increased from 16.4% to 19.6%;
• The number of customers rose from 2.8 million to 3.6 million;
• Market capitalisation increased to 16.3 billion lei (3.3 billion euro as at December 31, 2021) from 9.6 billion lei (2.1 billion euro as at December 31, 2018);
• It acquired two other banks, Bancpost and Idea::Bank, as well as companies in other sectors (leasing, consumer finance, insurance and private pensions): ERB Leasing, ERB Retail Services, Idea::Leasing, Idea::Broker de Asigurare and Certinvest Pensii. Also, BT and Tiriac Group signed an agreement to acquire Tiriac Leasing (January this year), and closing of the transaction is currently subject to approval by the competent authority.

BT ended 2021 with above-market performance in lending and operational volumes. Higher transaction volumes and a lower cost of risk contributed to a net profit of almost 1.8 billion lei, up 48.9% versus 2020. The bank’s assets reached 125 billion lei, up 21% versus 2020, driven by lending growth.

Banca Transilvania has set a net profit target of 2.1 billion lei for this year, 18% above last year’s level.