Banca Transilvania Published their H1 2021 results yesterday showing a 15% YoY increase in net banking income and a net profit of RON 1,015m (+47%).
In H1 2021 Banca Transilvania recorded a net interest income of RON 1,529m, representing a 5.2% YoY increase, driven by lower interest expense. Meanwhile net fees and commissions amounted to RON 446.9m (+27.0% YoY).
Moving further down the P&L, operating expenses are down -4.2% YoY, standing at RON 1,245m. The drop in expenses came from lower impairments which were sliced in half to RON 113m (-50.7% YoY).
As a result of the abovementioned, net profit amounted to RON 1,015.5m (+47.2% YoY).
The cost of risk during the first half of 2021 amounted to 0.5%. During the H1 of 2021, the balance of provisions increased by 9.2% reaching RON 3,485m, compared to the balance at the end of 2020 (RON 3,190m).
Turning our attention to the balance sheet, total assets grew 7.3% since the beginning of the year, amounting to RON 115.3bn and by 17.2% compared to H1 2020. Of that, RON 44.4bn is attributed to the bank’s loan portfolio. Loan portfolio, considering also the receivables from leasing contracts, recorded an increase of 8.9% when compared to H1 2020. Deposits reached RON 97.2bn (+21.5% YoY), of which RON 65.9bn are retail deposits and RON 31.3bn are company deposits.
The NPE ratio, according to the EBA definition, is 3.47% as of H1 2021, while the total coverage ratio, according to the EBA standards, is 148%. The bank’s CAR without H1 2021 profit is at 21.83% and 23.54% if profit is included.
OMV Petrom released a statement yesterday in which they announced their entrance into the several FTSE Russell Emerging Markets indices.
According to a statement released on the BVB yesterday, OMV Petrom will be included into several FTSE Russell Emerging Markets Indices. These indices are: FTSE Global All-World, FTSE Global All-Cap, FTSE Global Total-Cap and FTSE Global Mid Cap.
For inclusion in the FTSE indices, companies must meet various criteria, one of the most important being liquidity, namely that in 10 of 12 months of the reference period (in this case July 1, 2020 – June 30, 2021), the ratio between the monthly median of the daily trading values and the stock free float market capitalization should be higher than 0.05%.