Romania’s Banca Transilvania [BSE:TLV] said on Thursday its net profit grew by 22% year-on-year in 2022, reaching 2.178 billion lei ($487 million/441 million euro), according to SeeNews.com.
The bank’s operating income rose by an annual 19.6% to 2.699 billion lei last year, Banca Transilvania said in an audited financial statement filed with the Bucharest Stock Exchange.
At the end of 2022, Banca Transilvania’s assets totalled 133.96 billion lei, up 7.1% on the year.
Loans and advances to customers reached 67.474 billion lei in 2022, up by 20.8% on 2021, while deposits saw an annual increase of 13.4%, to 116.504 billion lei.
Non-performing loans (NPLs) accounted for 2.44% of the lender’s total loan portfolio at the end of 2022, down from the 2.71% a year earlier. The coverage of NPLs with specific provisions and mortgage collaterals remained at a comfortable level of 124%, in line with the bank’s risk approach.
Banca Transilvania’s net result in 2022 was 3.5% higher than the budgeted value, while its operating income was 0.5% higher. Investments totalled 391 million lei in 2022, compared to the budgeted proposal of 556 million.
Banca Transilvania Group, which also comprises Moldovan lender Victoriabank, BT Leasing Transilvania IFN, BT Investments, BT Direct IFN, BT Building, BT Microfinanţare IFN, BT Leasing MD, BT Asset Management, Improvement Credit Collection, VB Investment Holding and Idea Bank, posted a net profit of 2.488 billion lei in 2022, up 22.86% year-on-year. Group assets totalled 140.511 billion lei at the end of 2022, up from 132.501 billion lei at end-2021.
For 2023, Banca Transilvania projects a net income of 2.337 billion lei, up by 7.3% from last year’s result, while total assets are seen to increase by an annual 13.6% to 15.198 billion lei.
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