April 25, 2018 / 6:31 AM / a month ago

Romania's Banca Transilvania Q1 net profit up 48.7 pct y/y

BUCHAREST, April 25 (Reuters) - Romanian lender Banca Transilvania

* Says its net profit was 366 million lei ($96.11 million) in the first quarter, up 48.7 percent on the year, whereas Banca Transilvania Financial Group’s net profit amounted to roughly 389 million lei.

* Says the BT Group’s total assets amounted to 60.1 billion lei at the end of the first quarter, up 0.5 percent from the end of 2017.

* Says its NPL provision coverage stood at 71 percent.

* Says net loans represent roughly 51 percent of the Group’s assets.

* Chief executive Omer Tetik: “It was an upright start for the year, with results as expected, focusing on the experience we provide to customers in all our business segments. We have made significant investments in network’s redesign and service digitization.”

Further company coverage: ($1 = 3.8082 lei) (Reporting by Luiza Ilie)

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