BT financial results as at 31 March 2022

Press release 2022-05-06
BT financial results as at 31 March 2022

BT's lending, activity and operating income increased sharply

  • Romanians continued to have plans this year: almost 63,000 loans were granted by Banca Transilvania in the first 3 months of the year, worth 6,357 million lei. 61% is the increase in loans compared to the first quarter of 2021.

  • The bank has an increase of 2.5 billion lei in the balance of loans, meaning +5%, compared to the end of last year.

  • The number of customers has continued to grow, so that BT employs over 3.6 million customers, of which 3.3 million are individuals and 390,000 are companies.

  • The bank's operations registered solid growth: the number of transactions of individual and corporate customers, through all BT channels, +35% compared to the same period of last year.

  • The bank launched Code Crafters, a company that increases its capacity to develop IT solutions.

BT Financial Group's assets reached RON 128.3 billion at the end of the first quarter, and net loans increased to RON 58.6 billion. Customer deposits reached 107.42 billion lei - of which 71.77 billion lei are the savings of individuals, and 35.65 billion lei, deposits of companies - offering a loan-to-deposit ratio of 58.4%.

The consolidated net profit of the BT Group is of 400.33 million lei, of which the bank's profit is of 307.52 million lei. Subsidiaries and equity participations contributed approximately 92.82 million lei to the profitability of BT. The bank's operational efficiency reached the level of 50.64%, calculated with an annualized impact of the contribution to the Bank Deposit Guarantee Fund (FGDB) and the Resolution Fund.

  • The bank's net interest income increased by 22% compared to the first quarter of 2021, on the back of increased lending.
  • Net income taxes and commissions increased by 21%, on the back of increased BT activity.
  • The cost of the bank's contribution to FGDB increased by 75%, to 143 million lei, negatively impacting the result in the first quarter of this year.
  • The bank has maintained its provisioning policy very cautiously.

Ömer Tetik, General Manager, Banca Transilvania, says: "Romania started the year full of uncertainties and more challenging than ever. 2022 came with macroeconomic turbulence, with a complicated regional geopolitical situation, price increases and logistical problems. In this context, Banca Transilvania proved that it can support, regardless of the context, the plans of its clients, both through increased financing and through investments in technology. The bank's activity and revenues are above estimates and over the budget, and the net result is in line with the budget. We are glad that the Romanians have continued their plans, and BT has sustained growth in lending and operations."

The rate of non-performing exposures, according to eba indicator, is 2.91% as of March 31, 2022. The coverage with total provisions of non-performing exposures according to EBA standards is 179%. The solvency is 21.23% and includes the profit for the quarter ended.

Continuing digitalization at BT

  • The bank has nearly 3 million unique digitized customers.
  • BT Pay has reached the milestone of 2 million people using the app. Every second card issued by Banca Transilvania is in digital format, enrolled in BT Pay. The year also came with the launch of a new feature in BT Pay, overdraft 100% online.
  • For entrepreneurs, the bank launched the BTPOS App, which transforms a merchant's Android operating system device into a POS that accepts contactless payments with the card, phone or other payment accessories. 43,000 companies have over 80,000 BT POS.
  • The number of cards issued has increased: the bank has reached 4.8 million cards in the portfolio, of which over 570,000 are credit cards.

Completion of the
Tiriac Leasing transaction, estimated in the first part of this year

The completion of the transaction between Tiriac Group and Banca Transilvania regarding Tiriac Leasing is estimated in the first part of the year. BT announced the acquisition agreement in January a.c.

Idea::Bank integration status in BT Financial Group: the first services for Idea clients

The integration of Idea::Bank into the BT Group continued in the first part of the year, and the bank announced its first services available to Idea customers. The integration is ongoing until June 13, a.c., when the assignment to BT of the contracts concluded by Idea::Bank with its clients will be completed.

BT for Ukrainians

Banca Transilvania is with the Ukrainians and gets involved by supporting it with financial solutions, communication in Ukrainian, job offers and donations.