Banca Transilvania’s board has decided to buy back 10 million shares until March 23 , at minimum price equal with the market price since the acquisition moemnt and a maximum price of RON 3.5, according to a release of the Bucharest Stock Exchange (BVB).
The buy back will be developed during March 1-23. The prices of Banca Transilvania shares climbed by 15.02 percent since the beginning of the year and in the last week it decreased by 3.81 percent to RON/share 2.45.
Banca Transilvania posted a net profit of RON 1.186 billion in 2017, a drop by 3.46 percent and the profit of financial group Banca transilvania reached RON 1.242 billion, lower by 2.74 percent than in 2016, according to the bank’s data.
„In 2017 the organic growth was in compliance with our plans and strategy. The results registered prove the solid financial situation of the bank and represents the basis of our plans for this year. 2018 will be a tear, when besides the organic growth, we’ll manage the Bancpost integration in our business,” said Horia Ciorcila, president of the board of BT.
According to the release, BT group closed 2017 with assets of RON 59.8 billion, out of which the bank owns RON 59.3 billion.The net loans represent 50.6 percent of the BT group’s assets.
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