Romania’s fourth-largest
bank, Banca Transilvania, has posted a full year net profit for the
12 months to 31 December of RON97.9m ($31.6m), an increase of 58%
compared to the prior year.
Total assets increased
by 11% during fiscal 2010 to RON21.6bn; lending increased by 10%
while the bank’s strong liquidity was highlighted by its loan to
deposit ratio of 78% (FY2009: 81%).
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Successful cost control
resulted in a reduction in the Banca Transilvania cost-income ratio
to 48% from 55% in the year ago period.
Less positive was a 22%
increase in provisions to RON640m.
Robert Rekkers, CEO of
Banca Transilvania, said:
“2011 will be full of
challenges in an uncertain economic climate nationally and
internationally.
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By GlobalData“We predict that non-performing loans
would hit a peak while margins decrease.”
Banca Transilvania ended 2010 with a
branch network of 536 units and 805 ATMs, serving 1.5m
customers.
