Banca Transilvania makes 20m-euro profit

Banca Transilvania concluded the first nine months of this year with profits of 73.4 million RON (20 million euros), an increase of 72% on the same time last year. The profit made by Banca Transilvania in the first three quarters of the year is higher than during the whole of the previous year, when it made the equivalent of 60.8 million RON (15.2 million euros). The bank”s profits witnessed this increase due to a rapid growth in assets, and a minor decline in the difference between interest rates on loans and on deposits in the banking system. According to the latest data available, Banca Transilvania increased its market share to 3.4% of the banking system in mid-year, from the 2.9% it had at the end of last year. The bank”s assets went up by 58% in RON, in comparison to the same time last year, to 4.12bn RON (1.14bn euros at the end of the first half). The total revenues of the bank rose by 46% in RON from the same time last year to 578 million RON (160 million euros). ZF