BT EARNED AROUND 200 MILLION EUROS PROFIT IN 1H2019

The profit of the Banca Transilvania financial group accounted for 492.36 million Romanian lei (200 million euros) over the first 6 months of 2019. The group has two financial assets in Moldova – country’s first private bank Victoriabank [BT is holding over 40%, being major shareholder together with the European Bank for Reconstruction and Development, which is holding slightly more than 28%] and the company BT Leasing.

According to the bank report, the BT net profit reached 848 million Romanian lei. Daughter companies contributed with over 94 million Romanian lei (20 million euros) in the profit of the BT Group. The operational efficiency is of 45.87%.

The BT registered sustainable growth of crediting, providing over 100 thousand credits to companies and individuals. Enterprises got credits worth over 4.7 billion Romanian lei from the BT.

Currently, the group has 3.9 million cards, whose share in the Romanian market accounts for 22%. In the first semester, over 130 million transactions were implemented by BT directors.

BT Director General Omer Tetik said that in 1H2019 the bank managed to get solid revenues at lowering commissions.

“The growth rates in the field of deposits, credits and transactions demonstrate clients and individuals’ trust in the BT. The results of the first semester will help to achieve the goals set before the bank in the nearest future”, the banker said.

The 1H2019 was completed with assets worth 81.6 billion lei. The credit portfolio reached 39.3 billion lei, while deposits accounted for 67.4 billion lei, including physical persons – 47.2 billion lei, while legal – 20.2 billion lei.

According to the European Bank Association classification, the rate of expired credits accounts for 4.65% for the BT. The covering of expired credits by reserves – 96%, while including the guarantees this figure is 126%. The rate of BT solvency without the 2019 profit accounts for 18.63%, while including the profit – 20.53%.

Infotag’s dossier: The BT’s asset in Moldova – the Victoriabank – is the Moldova’s third largest bank. It has over 600 thousand clients, 100 offices and 1.3 thousand employees. According to the first half-year, the VB profit exceeded 145.3 million lei – the system’s third result. The assets accounted for 14.5 billion lei, capital – 2.5 billion lei.