Banca Transilvania S.A.
LEI CODE: 549300RG3H390KEL8896
INTERIM CONDENSED CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS
As at March 31, 2024
Banca Transilvania S.A.
CONTENTS
Interim Consolidated and Separate Statement of Profit or Loss
Interim Consolidated and Separate Statement of Other Comprehensive Income
Interim Consolidated and Separate Statement of Financial Position
Interim Consolidated and Separate Statement of Changes in Equity
Interim Consolidated and Separate Statement of Cash Flows
Notes to the Interim Condensed Consolidated and Separate Financial Statements
1
2
3-4
5-8
9-10
11-55
Banca Transilvania S.A.
Interim Consolidated and Separate Statement of Profit or Loss
For the three-month period ended March 31
Group | Bank | ||||
Notes | 31-03-2024 | 31-03-2023 | 31-03-2024 | 31-03-2023 | |
RON | RON | RON | RON | ||
thousand | thousand | thousand | thousand | ||
Interest income calculated using the effective | |||||
interest method | 2,474,027 | 1,946,814 | 2,336,933 | 1,749,400 | |
Other interest like income | 116,359 | 75,062 | 8,084 | 8,013 | |
Interest expense calculated using the effective | |||||
interest method | (1,044,603) | (779,213) | (1,016,830) | (724,329) | |
Other interest like expense | (2,805) | (715) | (3,455) | (1,637) | |
Net interest income | 5 | 1,542,978 | 1,241,948 | 1,324,732 | 1,031,447 |
Fee and commission income | 546,042 | 453,303 | 473,766 | 392,759 | |
Fee and commission expense | (208,361) | (165,406) | (177,837) | (141,896) | |
Net fee and commission income | 6 | 337,681 | 287,897 | 295,929 | 250,863 |
Net trading income | 7 | 190,861 | 135,245 | 156,523 | 122,515 |
Net gain / loss (-) from financial assets | |||||
measured at fair value through other items of | |||||
comprehensive income | 8 | 61,884 | 66,844 | 60,673 | 66,838 |
Net gain / loss (-) from financial assets which | |||||
are required to be measured at fair value | |||||
through profit and loss | 9 | 44,223 | 23,502 | 60,228 | 17,877 |
Contribution to the Bank Deposit Guarantee | |||||
Fund and to the Resolution Fund | 10 | (71,294) | (91,821) | (64,671) | (89,271) |
Other operating income | 11 | 109,658 | 76,849 | 76,604 | 43,339 |
Operating income | 2,215,991 | 1,740,464 | 1,910,018 | 1,443,608 | |
Impairment or reversal of impairment on | |||||
financial assets not measured at fair value | |||||
through profit or loss | 12(a) | (7,510) | 45,000 | 42,535 | 39,567 |
(Other) Provisions and reversal of provisions | 12(b) | 4,569 | 6,784 | 3,424 | 887 |
Personnel expenses | 13 | (579,873) | (476,270) | (482,113) | (400,635) |
Depreciation and amortization | (119,284) | (106,665) | (104,195) | (97,604) | |
Other operating expenses | 14 | (338,428) | (241,019) | (297,041) | (203,918) |
Operating expenses | (1,040,526) | (772,170) | (837,390) | (661,703) | |
Bargain gain | 132,690 | - | - | - | |
Profit before income tax | 1,308,155 | 968,294 | 1,072,628 | 781,905 | |
Income tax expense (-) | 15 | (175,748) | (130,593) | (159,388) | (106,003) |
Net profit for the period | 1,132,407 | 837,701 | 913,240 | 675,902 | |
Net Profit of the Group attributable to: | |||||
Equity holders of the Bank | 1,051,941 | 804,535 | - | - | |
Non-controlling interests | 80,466 | 33,166 | - | - | |
Net Profit for the period | 1,132,407 | 837,701 | 913,240 | 675,902 | |
Basic earnings per share | 1.1486 | 0.88 | - | - | |
Diluted earnings per share | 1.1486 | 0.88 | - | - |
1
Banca Transilvania S.A.
Interim | Consolidated | and | Separate | Statement | of | Other | |||
Comprehensive Income | |||||||||
For the three-month period ended March 31 | |||||||||
Group | Bank | ||||||||
Notes | 31-03-202431-03-2023 | 31-03-2024 | 31-03-2023 | ||||||
RON | RON | RON | RON | ||||||
thousand | thousand | thousand | thousand | ||||||
Net Profit for the year | 1,132,407 | 837,701 | 913,240 | 675,902 | |||||
Items which are or may be reclassified to | |||||||||
profit or loss | 47,604 | 557,435 | 34,878 | 551,889 | |||||
Fair value reserve (financial assets | |||||||||
measured at fair value through other | |||||||||
items of comprehensive income), of which: | 46,102 | 652,462 | 42,056 | 657,264 | |||||
Net loss (-) / gain from disposal of financial assets | |||||||||
measured at fair value through other items of | |||||||||
comprehensive income, transferred to profit or | |||||||||
loss account | (61,884) | (66,844) | (60,673) | (66,838) | |||||
Fair value changes of financial assets measured at | |||||||||
fair value through other items of comprehensive | |||||||||
income | 107,986 | 719,306 | - | 724,102 | |||||
Translation of financial information of foreign | |||||||||
operations to presentation currency | 10,176 | 11,371 | 48 | (12) | |||||
Income tax on items which are or may be | |||||||||
reclassified to profit or loss | (8,674) | (106,398) | (7,226) | (105,363) | |||||
Total comprehensive income for the period | 1,180,011 | 1,395,136 | 948,118 | 1,227,791 | |||||
Total comprehensive income attributable | |||||||||
to: | |||||||||
Equity holders of the Bank | 1,099,545 | 1,361,970 | - | - | |||||
Non-controlling interest | 80,466 | 33,166 | - | - | |||||
Total comprehensive income for the period | 1,180,011 | 1,395,136 | 948,118 | 1,227,791 |
The financial statements were approved by the Board of Directors on May 10, 2024 and were signed on its behalf by:
Ӧmer TETIK | George CĂLINESCU |
Chief Executive Officer | Deputy Chief Executive Officer |
2
Banca Transilvania S.A.
Interim Consolidated and Separate Statement of Financial Position
Group | Bank | ||||
In RON thousand | Notes | 31-03-2024 | 31-12-2023 | 31-03-2024 | 31-12-2023 |
RON | RON | RON | RON | ||
Assets | thousand | thousand | thousand | thousand | |
Cash and current accounts with | |||||
Central Banks | 16 | 25,243,529 | 24,252,600 | 23,303,641 | 22,286,257 |
Derivatives | 128,611 | 124,817 | 128,611 | 124,817 | |
Financial assets held for trading | 18 | 352,564 | 345,756 | 37,375 | 36,303 |
Non-trading financial assets | |||||
mandatorily at fair value through | |||||
profit or loss | 18 | 1,274,986 | 1,232,598 | 1,728,917 | 1,670,155 |
Financial assets measured at fair | |||||
value through other items of | |||||
comprehensive income | 21 | 40,287,254 | 40,600,026 | 39,873,692 | 40,264,202 |
- of which pledged securities (repo | |||||
agreements) | 632,198 | 368,480 | 632,198 | 368,480 | |
Financial assets at amortized cost - | |||||
of which: | 101,651,285 | 95,733,542 | 99,157,595 | 93,979,518 | |
- Placements with banks and | |||||
public institutions | 17 | 11,265,574 | 12,272,959 | 11,358,055 | 12,619,341 |
- Loans and advances to customers | 19 | 73,286,627 | 72,008,224 | 72,657,613 | 71,550,404 |
- Debt instruments | 21 | 14,598,967 | 9,472,245 | 12,811,463 | 7,980,071 |
- Other financial assets | 22 | 2,500,117 | 1,980,114 | 2,330,464 | 1,829,702 |
Finance lease receivables | 20 | 3,769,597 | 3,562,683 | - | - |
Investments in subsidiaries | - | - | 873,300 | 873,300 | |
Investment in associates | - | 1,326 | - | - | |
Property and equipment and | |||||
investment property | 1,266,407 | 1,278,903 | 738,487 | 755,413 | |
Intangible assets | 697,751 | 693,671 | 563,218 | 562,009 | |
Goodwill | 154,363 | 154,363 | - | - | |
Right-of-use assets | 503,976 | 514,060 | 689,822 | 697,963 | |
Current tax receivables | - | - | - | - | |
Deferred tax assets | 358,014 | 354,481 | 340,448 | 337,282 | |
Other non-financial assets | 23 | 295,386 | 320,399 | 193,417 | 197,752 |
Total assets | 175,983,723 | 169,169,225 | 167,628,523 | 161,784,971 |
The explanatory notes to the financial statements from page 11 to page 55 are an integral part of these financial statements. | 3 |
Banca Transilvania S.A.
Interim Consolidated and Separate Statement of Financial
Position (continued)
In RON thousand | Notes | Group | Bank | |||
31-03-2024 | 31-12-2023 | 31-03-2024 | 31-12-2023 | |||
RON | RON | RON | RON | |||
Liabilities | thousand | thousand | thousand | thousand | ||
Derivatives | 116,478 | 88,809 | 116,478 | 88,809 | ||
Deposits from banks | 24 | 534,684 | 1,034,613 | 542,320 | 1,081,766 | |
Deposits from customers | 25 | 141,197,279 | 138,052,954 | 136,976,617 | 134,443,350 | |
Loans from banks and other | ||||||
financial institutions | 26 | 10,178,845 | 9,548,567 | 9,013,081 | 8,583,795 | |
Subordinated liabilities | 27 | 2,461,984 | 2,423,218 | 2,454,900 | 2,403,652 | |
Lease liabilities | 524,791 | 533,351 | 664,383 | 669,778 | ||
Other financial liabilities | 29 | 4,686,303 | 2,521,170 | 4,135,858 | 1,847,667 | |
Current tax liability | 135,435 | 103,884 | 142,987 | 113,280 | ||
Provisions for other risks and loan | ||||||
commitments | 28 | 669,588 | 651,144 | 562,318 | 551,539 | |
Other non-financial liabilities | 30 | 359,709 | 288,057 | 239,857 | 171,969 | |
Total liabilities excluding financial | ||||||
liabilities to holders of fund units | 160,865,096 | 155,245,767 | 154,848,799 | 149,955,605 | ||
Financial liabilities to holders of fund units | 27,860 | 26,950 | - | - | ||
Total liabilities | 160,892,956 | 155,272,717 | 154,848,799 | 149,955,605 | ||
Equity | ||||||
Share capital | 8,073,083 | 8,073,083 | 8,073,083 | 8,073,083 | ||
Treasury shares | (62,115) | (28,269) | (46,828) | (12,982) | ||
Share premiums | 31,235 | 31,235 | 28,614 | 28,614 | ||
Retained earnings | 6,544,751 | 5,444,429 | 5,045,737 | 4,095,127 | ||
Revaluation reserves from tangible | ||||||
assets | 42,609 | 43,839 | 27,495 | 28,738 | ||
Reserves on financial assets | ||||||
measured at fair value through other | ||||||
items of comprehensive income | (1,450,007) | (1,488,214) | (1,463,400) | (1,498,237) | ||
Other reserves | 1,147,887 | 1,147,889 | 1,115,023 | 1,115,023 | ||
Total equity attributable to equity | ||||||
holders of the Bank | 14,327,443 | 13,223,992 | 12,779,724 | 11,829,366 | ||
Non-controlling interest | 763,324 | 672,516 | - | - | ||
Total equity | 15,090,767 | 13,896,508 | 12,779,724 | 11,829,366 | ||
Total liabilities and equity | 175,983,723 | 169,169,225 | 167,628,523 | 161,784,971 |
The financial statements were approved by the Board of Directors on May 10, 2024 and were signed on its behalf by:
Ӧmer TETIK | George CĂLINESCU |
Chief Executive Officer | Deputy Chief Executive Officer |
The explanatory notes to the financial statements from page 11 to page 55 are an integral part of these financial statements. | 4 |
Banca Transilvania S.A.
Interim Consolidated Statement of Changes in Equity
For the three-month period ended March 31, 2024
Group
In RON thousand
Balance as at 01 January 2024
Profit for the period
Gain from fair value changes of financial assets measured at fair value through other items of comprehensive income, net of deferred tax
Revaluation of property and equipment, intangible assets, net of tax
Retained earnings from revaluation reserves Foreign currency translation of foreign operations
Total comprehensive income for the period Contributions of/distributions to the shareholders
Distribution to statutory reserves Acquisition of treasury shares
SOP 2023 Scheme
Transfer of retained earnings to liabilities to holders of fund units
Other adjustments
Total contributions of/distributions to the shareholders
Balance as at March 31, 2024
Attributable to the equity holders of the Bank
Share | Treasury | Share | Revaluation | Reserves from | Other | Retained | Total | Non- | Total |
capital | shares | premiums | reserves | financial assets | reserves | earnings | attributable | controlling | |
measured at fair value | to the equity | interest | |||||||
through other items of | holders of | ||||||||
comprehensive | the Bank | ||||||||
income | |||||||||
8,073,083 | (28,269) | 31,235 | 43,839 | (1,488,214) | 1,147,889 | 5,444,429 | 13,223,992 | 672,516 | 13,896,508 |
- | - | - | - | - | - | 1,051,941 | 1,051,941 | 80,466 | 1,132,407 |
- | - | - | - | 38,207 | - | - | 38,207 | - | 38,207 |
- | - | - | - | - | - | - | - | - | - |
- | - | - | (1,243) | - | - | 1,243 | - | - | - |
- | - | - | - | - | - | 9,397 | 9,397 | - | 9,397 |
- | - | - | (1,243) | 38,207 | - | 1,062,581 | 1,099,545 | 80,466 | 1,180,011 |
- | - | - | - | - | - | - | - | - | - |
- | (33,846) | - | - | - | - | - | (33,846) | - | (33,846) |
- | - | - | - | - | - | 36,086 | 36,086 | - | 36,086 |
- | - | - | - | - | - | 909 | 909 | - | 909 |
- | - | - | 13 | - | (2) | 746 | 757 | 10,342 | 11,099 |
- | (33,846) | - | 13 | - | (2) | 37,741 | 3,906 | 10,342 | 14,248 |
8,073,083 | (62,115) | 31,235 | 42,609 | (1,450,007) | 1,147,887 | 6,544,751 | 14,327,443 | 763,324 | 15,090,767 |
The explanatory notes to the financial statements from page 11 to page 55 are an integral part of these financial statements. | 5 |
Banca Transilvania S.A.
Interim Consolidated Statement of Changes in Equity (continued)
For the three-month period ended March 31, 2023
Group | Attributable to the equity holders of the Bank | ||||||||||
In RON thousand | Share | Treasury | Share | Revaluation | Reserves from | Other | Retained | Total | Non- | Total | |
capital | shares | premiums | reserves | financial assets | reserves | earnings | attributabl | controlling | |||
measured at fair | e to the | interest | |||||||||
value through | equity | ||||||||||
other items of | holders of | ||||||||||
comprehensive | the Bank | ||||||||||
income | |||||||||||
Balance as at 01 January 2023 | 7,163,083 | (64,750) | 31,235 | 70,355 | (3,728,492) | 989,581 | 4,457,854 | 8,918,866 | 552,667 | 9,471,533 | |
Profit for the period | - | - | - | - | - | - | 804,534 | 804,534 | 33,167 | 837,701 | |
Gain from fair value changes of financial assets | |||||||||||
measured at fair value through other items of | - | - | - | - | 547,883 | - | - | 547,883 | - | 547,883 | |
comprehensive income, net of deferred tax | |||||||||||
Revaluation of property and equipment, | - | - | - | - | - | - | - | - | - | - | |
intangible assets, net of tax | |||||||||||
Retained earnings from revaluation reserves | - | - | - | (4,963) | - | - | 4,963 | - | - | - | |
Foreign currency translation of foreign operations | - | - | - | - | - | - | 9,552 | 9,552 | - | 9,552 | |
Total comprehensive income for the | - | - | - | (4,963) | 547,883 | - | 819,049 | 1,361,969 | 33,167 | 1,395,136 | |
period | |||||||||||
Contributions of/distributions to the | |||||||||||
shareholders | |||||||||||
Distribution to statutory reserves | - | - | - | - | - | 9 | (9) | - | - | - | |
Acquisition of treasury shares | - | (16,814) | - | - | - | - | - | (16,814) | - | (16,814) | |
SOP 2022 Scheme | - | - | - | - | - | - | 27,124 | 27,124 | - | 27,124 | |
Transfer of retained earnings to liabilities to | - | - | - | - | - | - | (438) | (438) | - | (438) | |
holders of fund units | |||||||||||
Other adjustments | - | - | - | - | - | - | (1,991) | (1,991) | 8,276 | 6,285 | |
Total contributions of/distributions to the | |||||||||||
shareholders | - | (16,814) | - | - | - | 9 | 24,686 | 7,881 | 8,276 | 16,157 | |
Balance as at March 31, 2023 | 7,163,083 | (81,564) | 31,235 | 65,392 | (3,180,609) | 989,590 | 5,301,589 | 10,288,716 | 594,110 | 10,882,826 |
The explanatory notes to the financial statements from page 11 to page 55 are an integral part of these financial statements. | 6 |
Banca Transilvania S.A.
Interim Separate Statement of Changes in Equity (continued)
For the three-month period ended March 31, 2024
Bank | Attributable to the equity holders of the Bank | ||||||||
Notes | Reserves from | ||||||||
financial assets | |||||||||
Share | Treasury | Share | Revaluation | measured at fair | |||||
value through | Other reserves | Retained earnings | Total | ||||||
capital | shares | premiums | reserves | ||||||
other items of | |||||||||
In RON thousand | comprehensive | ||||||||
income | |||||||||
Balance as at 01 January 2024 | 8,073,083 | (12,982) | 28,614 | 28,738 | (1,498,237) | 1,115,023 | 4,095,127 | 11,829,366 | |
Profit for the period | - | - | - | - | - | - | 913,240 | 913,240 | |
Gain from fair value changes of financial assets | |||||||||
measured at fair value through other items of | - | - | - | - | 34,837 | - | - | 34,837 | |
comprehensive income, net of deferred tax | |||||||||
Retained earnings from revaluation reserves | - | - | - | (1,243) | - | - | 1,243 | - | |
Other items of comprehensive income, net of tax | - | - | - | - | - | - | 41 | 41 | |
Statement of comprehensive income for the | - | - | - | (1,243) | 34,837 | - | 914,524 | 948,118 | |
period | |||||||||
Contributions of/distributions to the | |||||||||
shareholders | |||||||||
Acquisition of treasury shares | - | (33,846) | - | - | - | - | - | (33,846) | |
SOP 2023 Scheme | - | - | - | - | - | - | 36,086 | 36,086 | |
Total contributions of/distributions to the | - | (33,846) | - | - | - | - | 36,086 | 2,240 | |
shareholders | |||||||||
Balance as at March 31, 2024 | 8,073,083 | (46,828) | 28,614 | 27,495 | (1,463,400) | 1,115,023 | 5,045,737 | 12,779,724 |
The explanatory notes to the financial statements from page 11 to page 55 are an integral part of these financial statements. | 7 |
Banca Transilvania S.A.
Interim Separate Statement of Changes in Equity (continued)
For the three-month period ended March 31, 2023
Bank | Attributable to the equity holders of the Bank | ||||||||
Notes | Reserves from | ||||||||
financial assets | |||||||||
Share | Treasury | Share | Revaluation | measured at fair | |||||
value through | Other reserves | Retained earnings | Total | ||||||
capital | shares | premiums | reserves | ||||||
other items of | |||||||||
In RON thousand | comprehensive | ||||||||
income | |||||||||
Balance as at 01 January 2023 | 7,163,083 | (49,463) | 28,614 | 35,678 | (3,736,653) | 958,598 | 3,558,320 | 7,958,177 | |
Profit for the period | - | - | - | - | - | - | 675,902 | 675,902 | |
Gain from fair value changes of financial assets | |||||||||
measured at fair value through other items of | - | - | - | - | 551,900 | - | - | 551,900 | |
comprehensive income, net of deferred tax | |||||||||
Retained earnings from revaluation reserves | - | - | - | (4,974) | - | - | 4,974 | - | |
Other items of comprehensive income, net of tax | - | - | - | - | - | - | (11) | (11) | |
Statement of comprehensive income for the | - | - | - | (4,974) | 551,900 | - | 680,865 | 1,227,791 | |
period | |||||||||
Contributions of/distributions to the | |||||||||
shareholders | |||||||||
Acquisition of treasury shares | - | (16,814) | - | - | - | - | - | (16,814) | |
SOP 2022 Scheme | - | - | - | - | - | - | 27,123 | 27,123 | |
Total contributions of/distributions to the | - | (16,814) | - | - | - | - | 27,123 | 10,309 | |
shareholders | |||||||||
Balance as at March 31, 2023 | 7,163,083 | (66,277) | 28,614 | 30,704 | (3,184,753) | 958,598 | 4,266,308 | 9,196,277 |
The explanatory notes to the financial statements from page 11 to page 55 are an integral part of these financial statements. | 8 |
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Banca Transilvania SA published this content on 10 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2024 16:06:39 UTC.