Romania Banca Transilvania net profit jumps, in line with f'cast

Banca Transilvania

13/02/2015 09:45

BUCHAREST, Feb 13 (Reuters) - Romanian lender Banca 
Transilvania's (BT)  ROTLV.BX  net profit rose by 19.5 percent 
on the year to 448 million lei ($115.54 million) in 2014, 
largely matching expectations as operating revenues rose.  
    Raiffeisen analysts had forecast a profit of 442 million lei 
for Romania's third biggest lender in terms of assets. 
    "We will preserve the endeavour to increase efficiency and 
support the Romanian economy, attentive and cautious to the 
challenges raised by the current economic environment in Romania 
and in the neighbouring region," Horia Ciorcil, Chairman of the 
board of directors, said in a statement. 
    At the end of 2014, the bank's total assets were 35.6 
billion, with its loan portfolio balance expanding 5.3 percent. 
    It said non-performing loans represent 10.9 percent of its 
portfolio, below the average of the local banking system, while 
write-offs amounted to 759 million lei in 2014. Net provisions 
stood at 638 million. 
    Part-nationalised Austrian lender Volksbanken AG  OTVVp.VI  
and its partners have agreed to sell their Romanian business to 
Banca Transilvania, the lender said on Dec. 10. 
 ($1 = 3.8775 lei) 
 
 (Reporting by Radu Marinas; editing by Matthias Williams) 
 ((radu.marinas@thomsonreuters.com)(+40 21 305 5263)(Reuters 
Messaging: radu.marinas.thomsonreuters.com@reuters.net)) 
 
Keywords: BANCATRANSILVANIA RESULTS/