Banca Transilvania 2012 net profit up 40 pct y/y

BUCHAREST Tue Feb 12, 2013 2:16am EST

Related Topics

BUCHAREST Feb 12 (Reuters) - Romanian lender Banca Transilvania reported a net profit of 320.4 million lei ($97.5 million) for last year on Tuesday, up 40 percent from 2011.

The figure compares with a forecast of 324 million lei in a Reuters poll. The bank also said net provisions stood at 379.4 million lei in 2012.

"We will propose to our shareholders to capitalise the profit in order to continue the bank's growth," Horia Ciorcila, president of the bank's board of directors said in a statement.

Banca Transilvania reported its results under International Financial Reporting Standards (IFRS). ($1 = 3.2867 Romanian lei) (Reporting by Ioana Patran; Editing by Sam Cage)