The gross operating profit before provisions, registered by the bank between January-September 2009, amounted to RON 418 mln (some €97.44 mln), up 83 percent annually.
“The reported gross profit is a combination of the very good results registered on the capital market and the increase in the number of clients. We have a favourable range in rates and can manage the RON 358 mln rise in provisions. I believe that gains in the fourth quarter will be similar to those posted now. The near future will not be an easy period, but our target is to meet the budget drafted early this year,” Robert Rekkers, the bank’s Chief Executive Officer, told Business Standard.
The lender had a 0.84 percent loan-deposit ratio at the end of the first nine months. “The fact that this indicator remained at a subunitary value shows a very good liquidity of the bank, as well as a strong position regarding the resources attracted from the local market, resources which increased 15 percent in 2009,” Banca Transilvania indicated. The lender’s solvency is at 13.53 percent, above the minimum eight percent threshold requested by the National Bank of Romania (BNR). The bank’s loan provisions surged 151 percent in the first three quarters of this year.
