April 30, 2020 / 6:39 AM / a month ago

Romania's Banca Transilvania Q1 net profit down 40% y/y

BUCHAREST, April 30 (Reuters) - Romanian lender Banca Transilvania

* Says its net profit was 261 million lei ($58.60 million) in the first quarter of 2020, down 40% percent on the year, with the overall Group’s consolidated net profit falling 40% to 304 million lei.

* Says the bank’s total assets amounted to 92.2 billion lei at the end of March, up 5.47% from the end of last year.

* Says the EBA non-performing exposures ratio is 4.1% as at March 31, 2020. The non-performing exposures coverage ratio according to EBA standards is 104%: “If we add the collateral the coverage ratio is at 128%.”

* The bank’s CAR, without the 2020 profit, is 18.17% and 18.70% if the profit is included.

* “The bank is financially strong and has the right internal infrastructure to assist its customers and the community. The first quarter results underline this once again,” said Ömer Tetik, Chief Executive Officer of Banca Transilvania. Further company coverage: ($1 = 4.4539 lei)

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