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BRIEF-Romanian Banca Transilvania's net profit at 1.23 bln lei in 2016
February 15, 2017 / 7:30 AM / 10 months ago

BRIEF-Romanian Banca Transilvania's net profit at 1.23 bln lei in 2016

BUCHAREST, Feb 15 (Reuters) - Romanian lender Banca Transilvania

* Says records net profit of 1.23 billion lei ($288.97 million) in 2016, down 49 percent from the previous year when the acquisition of Volksbank helped its profit surge.

* Says Banca Transilvania Group’s overall profit stood at 1.28 billion lei.

* Says non-performing loans represented 4.62 percent of its total loan portfolio at the end of 2016, sharply down from 9.75 percent at the end of 2015.

* Says coverage of non-performing loans with related provisions and mortgage collateral remains at a comfortable level of 117.5 percent and in line with the bank’s risk appetite.

* Says its total assets rose 9.4 percent on the year to 51.8 billion lei.

* Says its solvency ratio was 18.5 percent (15.69 percent without profit).

* Board chairman Horia Ciorcila: “We will continue to grow organically, by funding the Romanian economy, making use of the competitive advantage of local decision making. On the other hand, I think market consolidation will continue and we are open and interested in potential acquisitions, but any such decision will be rational and will need to make sense for us.” Further company coverage: ROTLV.BX ($1 = 4.2565 lei) (Bucharest newsroom)

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