At Banca Transilvania’s Annual General Meeting on April 28, 2026, the new Board of Directors was appointed for the 2026–2030 term. The board consists of four reappointed members and three new members.

The structure approved by the shareholders combines the experience gained during previous terms with expertise in various fields of activity. This complementary approach stems both from contributions to the Banca Transilvania Financial Group’s transformation projects and from experience in areas such as international financial markets, fintech, governance, retail and corporate banking, financial supervision, mergers and acquisitions, capital markets, risk management, and operational management—both in Romania and other European Union countries, as well as in the United Kingdom and Canada.

Composition of the new BT Board of Directors: 

• Horia Ciorcilă – President
• Ivo Gueorguiev – Vice President
• Mirela Bordea – Independent Non-Executive Director
• Florin Predescu-Vasvari – Independent Non-Executive Director
• Gabriela Nistor – Non-executive director (new member)
• Doru Lionăchescu – Independent non-executive director (new member)
• Teodor Torgie – Independent non-executive director (new member)
  
  

Horia Ciorcila - President

Horia Ciorcilă has been part of Banca Transilvania’s story from the very beginning, as one of its founders. Chairman of the Board of Directors since 2002, he has played a key role in BT’s growth, which has made it the leader of the banking market in Romania and Southeast Europe. This year, he was re-elected by the shareholders.

He is part of the first generation of entrepreneurs in post-1989 Romania who had the courage to build businesses in an unstable economic environment that nevertheless offered opportunities. The businesses established at that time laid the foundation for Romania’s entrepreneurial ecosystem, and those that grew went on to play a vital role in the country’s economic development and European integration. He was awarded the Nihil Sine Deo distinction (2024) by the Royal Family of Romania.


Ivo Georgiev – Vice President

Ivo Guerguiev has been a non-executive member of the Board of Directors since 2014 and has over 30 years of experience in banking, financial markets, and fintech. The shareholders have granted him a new term of office, which will run until 2030. Through his work at the European Bank for Reconstruction and Development (1993–2001), he contributed to the development of expertise in retail banking in Central and Eastern Europe. His professional career spans a number of countries—Romania, Bulgaria, the United Kingdom, the Netherlands, Serbia, Slovakia, Poland, etc.—where he has held leadership positions on the boards of directors and executive committees of financial institutions, fintech companies, and asset management organizations. He is also Chairman of the Board of Directors of Salt Bank—part of the Banca Transilvania Group.


Mirela Bordea – Independent non-executive member

Mirela Bordea has been an independent non-executive member of the Board of Directors of Banca Transilvania since 2017 and has over 30 years of experience in the banking sector. In 2026, she was reappointed by the shareholders for another term. Her professional background includes leadership roles in areas essential to the operation of a financial institution, such as risk management, lending, internal control, and governance. Most of her career has been with Credit Europe Bank (formerly Finansbank), where she oversaw risk and lending activities, later becoming Vice President and a member of the Board of Directors. From 2014 to 2017, he served as a member of the Executive Board of the Romanian Banking Association, actively participating in initiatives aimed at developing Romania’s banking sector.


Florin Predescu-Vasvari – Independent non-executive member

Florin Predescu Vasvari has been a member of the BT Board of Directors since 2022 and was reappointed in 2026. With nearly 20 years of experience in academia and a Ph.D. in accounting, he is a professor at London Business School and also holds roles in academia and international governance. He is the Academic Director of the Institute of Entrepreneurship and Private Equity and, since 2025, Executive Dean for Executive Education in the Middle East, as well as a member of the Board of Directors of the Newton Program. In addition to his academic work, he has significant experience on boards of directors and risk and investment committees in approximately 10 countries.


Gabriela Nistor – Non-Executive Director

Gabriela Nistor is one of the new members of the BT Board of Directors. Her career spans over 25 years in banking and management, built primarily at Banca Transilvania and other companies within the BT Financial Group. She began her career at Banca Transilvania in 1995 as a loan officer at the Cluj Branch, after which she oversaw the marketing, cards, and retail banking divisions. Between 2008 and 2022, she held senior management positions, including Executive Director of Retail Banking and Deputy General Manager – Retail & Network. He served on the Boards of Directors of BT Leasing, BT Asset Management, and ERB Retail Services (now BT Direct), where he has been Chairman of the Board of Directors since 2019.

He led Salt Bank (BT Group) from 2022 to 2026, helping to launch Romania’s first 100% digital bank. Since 2024, he has been a member of the bank’s Board of Directors. At the industry level, he served as Vice President of the Romanian Banking Association from 2022 to 2025.


Doru Lionăchescu – Independent Non-Executive Director

Doru Lionăchescu is one of the new members of the Board of Directors for the 2026–2030 term. He has been a member of Salt Bank’s Board of Directors since 2022. He has over three decades of experience in the financial sector, consulting, and corporate governance, and has been consistently involved in the development of Romania’s banking and capital markets. In 2006, he founded Capital Partners, which later became BT Capital Partners, where he served as Chairman of the Board of Directors for ten years. He has held leadership roles at financial institutions such as ING Bank Romania, Citibank Romania, Bancpost, and OTP Bank Romania. Prior to his career in banking, he was involved in the financial press, serving as co-founder and deputy editor-in-chief of Capital magazine.


Teodor Torgie – Independent Non-Executive Director

Teodor Torgie is one of the new members of the Board of Directors. He has been with Banca Transilvania since its inception, having been one of its founders. His career combines technical and managerial training with over three decades of experience in entrepreneurship, technology, and the leadership of companies in the IT and financial sectors. He is a co-founder and former Director of Alfasoft, which later became Endava, where he served as Delivery Director and Executive Chairman.

His experience also includes involvement in the development of companies within the Banca Transilvania Group; at one point, he served as a member of the Board of Directors of Strim (later BT Capital Partners) and as a member of the Board of Directors of Code Crafters, which strengthened the link between his digital expertise and BT’s strategic direction.


The Strategic Role of the Board of Directors in the Development of the Banca Transilvania Financial Group

The Board of Directors plays a key role in setting the strategic direction for Banca Transilvania, with responsibilities that ensure the bank’s stability, performance, and long-term development. It oversees strategy and financial performance, ensures compliance with governance and regulatory principles, and approves decisions that help strengthen BT’s position as a leader in the Romanian banking system.

The composition approved by the shareholders strengthens Banca Transilvania’s ability to navigate a volatile economic environment and reflects the institution’s commitment to sound governance, financial performance, and creating value for shareholders, customers, and the economy.