Banca Transilvania 1Q 2008 results - positive
Banca Transilvania (TLV) released its first quarter financial results (RAS, un-consolidated). The loan portfolio grew 13% yoy to RON 9.81 bn, while bank’s total assets amounted to RON 14.93 bn, up 8% yoy. On the liabilities side, deposits posted an yoy growth of 6% yoy reaching RON 11 bn. According to management, some 20 new branches were opened during the first quarter. Thus, the total retail network reached 471 branches at end-March. Total bank’s revenues amounted to RON 223.6 mn, a healthy 33% increase on 1Q 2007, while gross profit came in at RON 60.3 mn, 65% up yoy.
We will provide more details in our First Impression.
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