* Brokers, surprised by the results
Banca Transilvania yesterday announced a 40% increase in its profits for the year 2012, to 320.43 million lei, a performance which brokers consider surprising.
The result is out of tune with the banking sector, as most of the Romanian lenders on the Romanian market posting losses.
According to analysts, the difference comes from the business model of Banca Transilvania, as the bank is focused on smaller businesses, since its financing sources were more expensive, in the absence of a foreign parent bank as a shareholder.
* Horia Ciorcilă: "We will propose the capitalization of profit"
The president of Banca Transilvania, Horia Ciorcilă, expressed his satisfaction with last year's results, especially since they were obtained in spite of a deep volatility and of the multiple uncertainties of the local and European economic environment.
He said: "The increase in the number of active customers, correlated with historical highs of in the number of operations and of better performance of some of our lines of business have led to the strong consolidation of our market position. We will suggest to our shareholders the capitalization of the profit, in order to be able to help the future growth of the bank and to continue its support of the Romanian economy".
Brokers consider that the evolution of the bank was the result of its strategy and of reinforcement of its position on the banking market.
* Adrian Simionescu, "Vienna Investment Trust": "The business model which is unique in the country has ensured the bank's success"
The business model which is unique in the country has ensured the bank's success last year, said Adrian Simionescu, head of "Vienna Investment Trust".
He said: "It is not the growth in itself that is satisfactory, but the fact that it was achieved in a difficult e
