Banca Transilvania, the only Romanian privately-held lendinginstitution in top ten, in the second quarter generated net incomeworth 17.2m RON (around 4m euros), up 71% from a year ago, but only1.2m RON above the Q1, 2010 gain. In H1, the bank derived netincome worth 33.2m RON (almost 8m euros), three times bigger thanin the first half of last year. The half-year net income accountsfor less than 10% in the operating figure, which climbed to 390mRON, by 68% from H1, 2009, but was strongly eroded by bad loanprovision expenses, which climbed by 49%, to 330m RON. Theprovision volume thus topped 1bn RON (over 260m euros), against aloan volume of 13m RON (almost 3.2bn euros). Though foreigncurrency lending accounts for just 38.3% in the total portfolio,Banca Transilvania quotes RON decline against the euro as a causebehind the increase of loans with late payments of above 90 days."We've focused on finding solutions matching clients' demands, suchas loan restructuring or cheaper loans, the launch of a platformdedicated to people applying for European funds, as well as of newproducts. Moreover, we've come up with commercial lending campaignsand campaigns to refinance loans from other banks, to attract newclients, which were welcomed," comments Robert Rekkers, the generalmanager of Banca Transilvania.
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