Banca Transilvania operational profit surges 134 pct in Q1

Banca Transilvania bank saw its operational profit surge by 134 percent in the three months to March from the same period a year ago to 216 million lei (over 51 million euros), the bank said in a release on Thursday.

The bank’s operational profit at end-March amounted to 385 million lei (over 91 million euros), by 47 higher on March 31, 2009. The rise was mostly due to the increase in the earnings from the crediting margins of the financial operations and to the curbed spending on loan interests. Banca Transilvania’s operational expenditure totaled 169 million lei (roughly 40 million euros) at end-March, with such figure being unchanged from last year.