BT financial results as at 30 June 2022
26 August 2022 Reading time 4:00 minutes
Banca Transilvania continues to finance the economy,
in parallel with offering good returns to customers with savings
"We continued in the first semester to finance the economy and the state, given that we offer good returns for the savings kept at BT. We have reached new records of transactions both in terms of card payments and company operations, amid the increase in the bank's activity. We grow on all market segments, in conditions of profitability and we offer our clients competitive interest rates, while we have the best dynamics in attracting new customers. Despite the challenging conditions the economy is going through, we look with confidence at the next period. We have an appetite for financing and the growth of BT's activity", says Omer Tetik, General Manager, Banca Transilvania.
Financial results as at 30 June 2022
The assets of Banca Transilvania Financial Group increased above the market average, up to RON 140.1 billion (+5.76% compared to December 31, 2021), and the loans increased to RON 64.9 billion (+15.58% compared to December 31, 2021). The consolidated net profit of the BT Group is of RON 1,046.5 million, of which the bank's profit is of RON 907 million. Subsidiaries and equity participations contributed with over 139.5 million lei to the profitability of BT Group.
- The first half also brought an increase of 1,600 new customers and nearly 800 loans, per day. BT attracted more than 285,000 customers in the first half of the year, reaching 3.75 million.
- Customer deposits reached 110.9 billion lei, of which 72.8 billion lei are the savings of individuals and 38.1 billion lei of legal entities.
- BT Group's operating income increased by 17.6% to RON 2.8 billion.
- The cost of the BT Group's contribution to the Bank Deposit Guarantee Fund increased by 71% to MDL 151 million, negatively impacting the result of the semester.
- Between January and June this year, Banca Transilvania granted almost 140,000 loans to individuals and companies, amounting to 14.17 billion lei.
- In 2022, BT was the largest partner in the governmental programs SME Invest and AGRO SME Invest, but also in other guarantee schemes for SMEs launched in 2022 (RURAL INVEST, SME PROD, GARANT CONSTRUCT), with a total financed value of over 2.8 billion lei.
- Banca Transilvania reached 2.5 million unique cards in BT Pay, Apple Pay, Google Pay, Fitbit Pay and Garmin Pay wallets, and the number of phone payments doubled in the first half of this year compared to the same period in 2021, reaching 53 million. In total, 82% of the bank's clients are unique digitized customers, an indicator that BT closely follows.
The coverage with total provisions of non-performing exposures according to EBA standards is 180%. In the first half of this year, the balance of provisions increased by 7.4% and reached 3.88 billion lei, compared to the balance at the end of 2021, when it was 3.614 billion lei. The cost of risk during the first half of 2022 was 0.3%. The operational efficiency of the bank is 51.9%. The bank's solvency is 20.61% (without the profit of the first six months of this year), respectively 22.39% (with the profit included). The non-performing exposures ratio, according to eba indicator, is 2.55%, as of June 30, 2022.
Banca Transilvania Financial Group: a step towards consolidation and increasing expertise
The first part of the year also meant the consolidation of the BT Group. Banca Transilvania started building the first 100% digital bank in Romania around Idea::Bank, part of the BT Group, acquired this year. Regarding BT Leasing, the total cumulative value of the new contracts increased by 47% compared to the same period of last year. The figures also show the increase in preference for hybrid and full electric cars, accounting for 37% of the total cars financed in the first half of the year by the leasing company of the BT Group. Integration of Tiriac Leasing and Idea::Leasing in BT Leasing has entered the right line. At BT Mic, for over 70% of the financing, the microfinance company is the first lender, and 17% of the financing went to start-ups.
Recently, in July this year, BT Asset Management became the largest mutual fund manager in Romania, with net assets of RON 4.5 billion managed and a market share of almost 23%.
12 SEPTEMBER 2023
25 AUGUST 2023
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