Banca Transilvania S A : Interim condensed consolidated and separate financial statements as of 31.03.2024

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