Reuters: Romanian Banca Transilvania’s Q1 net profit up 7.7 pct

banca transilvaniaRomanian lender Banca Transilvania records net profit of 246.17 million lei ($59.56 million) in the first quarter, up 7.7 percent on the year. Banca Transilvania Group’s overall profit stood at 266.9 million lei, up 15.5 percent compared with the first quarter of 2016, according to Reuters.

Banca Transylvania repsentatives says its total assets rose 0.2 percent on the year to 51.9 billion lei. Also, its solvency ratio was 19.3 percent (18.5 percent without profit).

Board chairman, Horia Ciorcila, stated: “We had a good start this year, with results according to our objectives and expectations. The outlook of Romania’s economic development encourages us to go on with our ambitious plans to grow and consolidate Banca Transilvania and the BT Financial Group”.

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