February 27, 2020 / 6:04 AM / a month ago

Romania's Banca Transilvania 2019 net profit up 33% y/y

BUCHAREST, Feb 27 (Reuters) - Romanian lender Banca Transilvania

* Says its net profit was 1.62 billion lei ($366.37 million) in 2019, up 33% percent on the year, with the overall Group’s consolidated net profit up 46.6% to 1.84 billion lei.

* Says the bank’s total assets amounted to 87.4 billion lei at the end of December, up 18% on the year.

* Says the bank’s board of directors decided on Wednesday to propose to the shareholders the distribution as cash dividend of around 60% of the 2019’s distributable retained earnings.

* Says the non-performing exposures ratio of Banca Transilvania, according to the EBA ratio, is 4.36% as of Dec. 2019. The total coverage ratio according to the EBA standards is 98%.

* The bank’s CAR is 17.7% without and 21.2% with the profit included.

* Banca Transilvania chairman Horia Ciorcila: “During 2020, we will continue investments in innovation to enhance the quality of our services to clients. We will continue to grow the role of our business in economy, we pay attention to market challenges and opportunities.” Further company coverage: ($1 = 4.4217 lei) (Reporting by Luiza Ilie)

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