Banca Transilvania Financial Group (BT), Romania’s leading lender, reported exceptional preliminary financial results for 2024, marked by substantial growth and strategic expansion. The Group’s assets surged to RON 207 billion, a 22.4% increase year-over-year, with the acquisition of OTP Bank Romania contributing 9.6 percentage points to this growth.
Financial Highlights
Consolidated net profit reached RON 4.7 billion, with Banca Transilvania contributing RON 3.5 billion.
Operating profit rose by 28.3% to RON 4.5 billion, driven by enhanced operational efficiency and a cost-to-income ratio of 45.4%. Net loans and receivables grew by 27.5% to RON 96.4 billion, while customer deposits increased by 21.6% to RON 167.8 billion.
Strategic Expansion and Customer Growth
The acquisition of OTP Bank Romania and its subsidiaries significantly expanded BT’s market presence and diversified its service offerings. In 2024, BT welcomed over 66,000 new corporate clients and 530,000 individual customers, bringing its total customer base to nearly 4.6 million. The bank issued over 300,000 loans, a 9.4% increase from 2023, demonstrating strong lending activity across retail, corporate, and SME sectors.
Digital Transformation and Operational Efficiency
BT’s commitment to digital transformation has driven significant improvements in operational efficiency. The bank’s focus on technology and innovation has streamlined processes and enhanced customer experience, contributing to its strong financial performance.
Economic Impact
Banca Transilvania remains a vital contributor to the Romanian economy, paying over RON 1.7 billion in taxes and social security contributions in 2024.
“2024 was another year in which the bank and its subsidiaries grew significantly above the market average in terms of lending, operations, and customer transactions. We have also increased the scale of the BT Group through several acquisitions and integrations both in banking and in other complementary business areas such as leasing, pensions, and asset management,” stated Horia Ciorcilă, Chairman of the Board of Directors.
Banca Transilvania Financial Group Strengthens Leadership in Complementary Markets in 2024
Banca Transilvania Financial Group significantly strengthened its leadership in 2024 across diverse financial sectors beyond traditional banking. Key highlights include:
- Dominant Stock Market Presence: BT Capital Partners became the leading brokerage firm on the Bucharest Stock Exchange.
- Asset Management Leadership: BT Asset Management maintained its top position, exceeding RON 6 billion in assets.
- Expanded Leasing and Car Financing: The merger of BT Leasing and OTP Leasing created a major player with a substantial customer base and assets.
- Microfinancing Growth: BT Small achieved record success, significantly increasing its customer base and loan portfolio.
- Pension Fund Expansion: BT Pensii saw substantial growth in assets under management.
- Consumer Lending Growth: BT Direct increased its customer base and assets.
- Technological Advancement: Code Crafters expanded its financial solutions and achieved ISO 27001:2022 certification.
Banca Transilvania’s strong performance across these sectors solidifies its position as a key player in Romania’s financial ecosystem, demonstrating resilience and adaptability in a dynamic market environment. Looking forward, BT will continue to focus on technology, innovation, and strategic growth initiatives to sustain its leadership and support the Romanian economy.
