The entire financial group Banca Transilvania reported a net profit of RON 304 mln (EUR 62.7 mln), also down 40% compared to the same period last year.
“We had a strong start of the year, but, after the first two months, we had to quickly adapt to a new reality and we shifted our focus on supporting customers, the economy, authorities, and communities,” said Banca Transilvania CEO Ömer Tetik.
His statement suggests that the lower net profit was due to the COVID-19 crisis.
“We have a significant market share both in the Retail and in the SME sector, and we assume this role of supporting the overall economy. The bank is financially strong and has the right internal infrastructure to assist its customers and community. The first-quarter results underline this once again,” he added.
