In Q1, the Group observed an increase in net banking income of 23.6% and an increase in net income of 30.5%.

As Banca Transilvania published their Q1 2019 report, we are bringing you key takes from the report. According to it, in Q1, the company recorded an increase in net interest income of 38%, amounting to RON 749.4m. Net fee and commission income also observed an increase of 14.4%, amounting to RON 186.7m.

When observing the company’s net banking income, it amounted to RON 988.8m, representing an increase of 23.6%.

TLV Performance (Q1 2019 vs Q1 2018) (RON m)

Moving further down the P&L, operating expenses observed an increase of 27%, amounting to RON 490.1m.

In Q1, Banca Transilvania observed a net income of RON 507.5m, which represents an increase of 30.5%.

Net Income (Q1 2019 vs Q1 2018) (RON m)

Turning our attention to the balance sheet, assets amounted to RON 79.7bn, representing an increase of 2.3%. Of that, net loans make up for 48.5%, amounting to RON 38.6bn (+2.1% YoY).

Total liabilities amounted to RON 71.2bn, representing an increase of 1.6%. Of that deposits to customers make up for 91.73%, amounting to RON 65.28bn (+0.2% YoY). As loans increased and deposits remained relatively flat, L/D ratio increased by 1.1 p.p., amounting to 59.1%, which is still relatively low.