BUCHAREST Oct 30 Romanian lender Banca
Transilvania's (BT) nine-month net profit rose by
40.8 percent on the year to 338 million lei($96.17 million) in
the first nine-months, beating expectations, as operational
Analysts at Raiffeisen had forecast BT's net profit at 327
million lei against a profit of 240 million lei in the same
period of 2013. SSIF Broker had forecast a profit of 324 million
lei for Romania's third biggest lender in terms of assets.
"BT's positive results were supported by activity
streamlining and cost control initiatives, which together with
the overall business growth lead to an improvement of the cost
to income ratio," it said in a statement.
It said non-performing loans represent 11.5 percent of its
loan portfolio, "below the average of the Romanian banking
system", and net provisions stood at 442 million lei.
(1 US dollar = 3.5146 Romanian lei)
(Reporting by Radu Marinas; editing by Susan Thomas)