TLV - Strong set of Q1 figures on revenues, provision releases
Banca Transilvania’s first quarter net profit amounted to RON 656 mln, up
116% y-o-y and 79% q-o-q as risk cost was positive in the quarter due to
recoveries in the loan portfolio. With this figure, BT had a return on equity of
25% in the quarter on high level of capital and the figure also contains the full
amount of the Deposit Guarantee payment for the full year.
Operating income increased 24% y-o-y thanks to a rebound in all income lines
but mainly net trading. Net interest income increased 2% y-o-y and was down
6% q-o-q on lower margins but higher volumes while net fees rebounded by
16%.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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