Banca Transilvania to list on WBAG

Romanian bank Banca Transilvania (BT) is going to list on the Vienna Stock Exchange (WBAG) after shareholders’ approval of the move.BT, listed on the Bucharest exchange since 1997, said today (Fri) the decision to list on the WBAG would make the company “more visible and more attractive to foreign investors.”Horia Ciorcila was re-elected president of the administration council for another four years at the shareholders’ meeting.The European Bank for Reconstruction and Development (EBRD) holds an interest of 14.45 per cent in Banca Transilvania, Bank of Cyprus has an interest of 9.7 per cent, Ciorcila has one of five per cent, and others hold the remaining interest in the shares.BT announced a 15 per cent year on year net profit increase for the first quarter of this year with four million Euros.The bank also said it had had 96.25 million Euros in turnover in the first quarter, up 47 per cent compared to the same period in 2009.The bank has assets of 4.8 billion Euros, according to online newspaper Romanian Times.