Banca Transilvania triples net profit in 2007 on better-than-expected results

Banca Transilvania, the country's fifth lender by assets, saw a three-fold increase in net profit last year against the previous one, according to financial results issued by the Bucharest Stock Exchange.

It posted 340.48 million lei net profit in 2007. The bank's assets saw 70 percent boost, to 13.87 billion lei.

The Romanian-based lender runs 421 units and has more than 5,500 employees.

Banca Transilvania has been listed on the Bucharest Stock Exchange starting 1997 and its most important shareholder is the European Bank for Reconstruction and Development (EBRD) which owns 15 percent of the bank's shares. None of its other shareholders hold more than 5 percent.

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