Banca Transilvania Group posts 1.015 bln lei in H1 net consolidated profit

Banca Transilvania Group's net consolidated profit for the first half of 2021 stands at 1.015 billion lei, up 47.2 percent compared to the same period last year, with the bank's profit standing at 901 million lei (48.3 percent higher YoY), the group said in a report to the Bucharest Stock Exchange. Subsidiaries and other capital investments contributed over 114 million lei to BT Group's profitability. The assets of Banca Transilvania Financial Group reached 115.3 billion lei at the end of H1 2021, while the loans portfolio increased to 44.4 billion lei. Customer deposits hit 97.2 billion lei, of which 65.9 billion lei are retail deposits and 31.3 billion lei are corporate deposits. The bank's operational efficiency stands at a comfortable 46.7 percent. Between January and June 2021 Banca Transilvania granted over 114,000 corporate and retail loans, with loans to companies amounting to 4.8 billion lei. The bank has approximately 3.14 million retail customers, almost 360,000 SME & Micro customers and approximately 11,000 corporate customers. In 2021 BT continues to be a relevant partner for the local government and other European programs, having extended in H1 over 560 million lei in loans through the SME Invest and AGRO IMM Invest programs, as well as 648 million lei through guarantee and European funding programs. BT has over 2.3 million single digital customers, representing 67 percent of its active customers. Out of the more than 1,700 BT ATMs, 560 are multifunctional (BT Express Plus), allowing self-banking operations - cash deposits in lei and foreign currency, foreign exchange and contactless cash withdrawals. "It is a period of relaunch for Romania, and Banca Transilvania has contributed to this process once again, by increasing lending and operations processing above the market average. We are the bank of the Romanians, we handle a volume of operations vital for the economy and we have over 7 million Romanians as direct and indirect shareholders. We are optimistic about the development of the economy and of the country, so we put our efforts into continuing their growth and reducing the gaps against Western European economies," Banca Transilvania CEO Omer Tetik said in the release. Banca Transilvania's tax and fee contribution to the state budget in the last five years amounts to over 2.7 billion lei, in direct and indirect taxes, of which 712 million lei in 2020. BT also remains one of the companies with the strongest community commitment, with donations of almost 15 million lei made in the first half of the year. AGERPRES (RO - author: George Banciulea, editor: Andreea Marinescu; EN - author: Simona Klodnischi, editor: Simona Iacob)

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