Romanian lender Banca Transilvania plans to invest over €41 million this year – EuropaProperty

Banca Transilvania, Romania’s third largest local lender, plans to invest over €41 million this year.

The bank also expects to reach a profit of €190 million, and increase gross lending by 6 percent, according to a bank report.

In 2015, the bank posted a net profit of €538 million, up 456 percent over the previous year. Much of the profit, some €358.6 million, came from Volksbank Romania’s takeover.

Besides the earnings from this transaction, Banca Transilvania had an operating profit of €171.8 million in 2015. The lender wants to increase the profit by 10 percent this year to €190 million.

After acquiring Volksbank, Banca Transilvania managed to increase the balance of loans by over 40 percent. The stock of net loans exceeded €5.6 billion.