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Banca TransilvaniaBVB:TLV Stock Report

Market Cap







06 Dec, 2021


Company Financials +
TLV fundamental analysis
Snowflake Score
Future Growth2/6
Past Performance5/6
Financial Health5/6

TLV Stock Overview

Banca Transilvania S.A. provides various banking products and services.

Banca Transilvania Competitors

BRD - Groupe Société Générale



Raiffeisen Bank International



Price History & Performance

Summary of all time highs, changes and price drops for Banca Transilvania
Historical stock prices
Current Share PriceRON2.50
52 Week HighRON2.84
52 Week LowRON1.95
1 Month Change-2.16%
3 Month Change-8.82%
1 Year Change22.80%
3 Year Change39.16%
5 Year Change80.61%
Change since IPO11,898.65%

Recent News & Updates

Shareholder Returns

TLVRO BanksRO Market

Return vs Industry: TLV exceeded the RO Banks industry which returned 18.3% over the past year.

Return vs Market: TLV underperformed the RO Market which returned 29.3% over the past year.

Price Volatility

Is TLV's price volatile compared to industry and market?
TLV volatility
TLV Average Weekly Movement2.6%
Banks Industry Average Movement3.7%
Market Average Movement4.2%
10% most volatile stocks in RO Market6.8%
10% least volatile stocks in RO Market2.4%

Stable Share Price: TLV is less volatile than 75% of RO stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: TLV's weekly volatility (3%) has been stable over the past year.

About the Company

199310,170Omer Tetik

Banca Transilvania S.A. provides various banking products and services. Its Large Corporate Clients segment offers transaction banking, treasury, trade finance, and retail products; and leasing, asset management, merger and acquisition consultancy, and capital market advisory services to companies, legal and public entities, and financial institutions. The company’s Medium Corporate Customers segment provides lending, current, and treasury services; bonus, structured finance, and co-financing of EU funded projects; and bancassurance, and financial and operating leases.

Banca Transilvania Fundamentals Summary

How do Banca Transilvania's earnings and revenue compare to its market cap?
TLV fundamental statistics
Market CapRON15.71b
Earnings (TTM)RON1.99b
Revenue (TTM)RON4.71b


P/E Ratio


P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TLV income statement (TTM)
Cost of RevenueRON182.02m
Gross ProfitRON4.53b

Last Reported Earnings

Sep 30, 2021

Next Earnings Date


Earnings per share (EPS)0.32
Gross Margin96.14%
Net Profit Margin42.29%
Debt/Equity Ratio30.5%

How did TLV perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio


Is Banca Transilvania undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: TLV (RON2.5) is trading below our estimate of fair value (RON3.51)

Significantly Below Fair Value: TLV is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: TLV is good value based on its PE Ratio (7.9x) compared to the European Banks industry average (10.4x).

PE vs Market: TLV is good value based on its PE Ratio (7.9x) compared to the RO market (12.8x).

Price to Earnings Growth Ratio

PEG Ratio: TLV is poor value based on its PEG Ratio (2x)

Price to Book Ratio

PB vs Industry: TLV is overvalued based on its PB Ratio (1.5x) compared to the XE Banks industry average (0.7x).

Future Growth

How is Banca Transilvania forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: TLV's forecast earnings growth (4% per year) is above the savings rate (1.2%).

Earnings vs Market: TLV's earnings (4% per year) are forecast to grow slower than the RO market (10% per year).

High Growth Earnings: TLV's earnings are forecast to grow, but not significantly.

Revenue vs Market: TLV's revenue (6.5% per year) is forecast to grow faster than the RO market (5.8% per year).

High Growth Revenue: TLV's revenue (6.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: TLV's Return on Equity is forecast to be low in 3 years time (15.5%).

Past Performance

How has Banca Transilvania performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TLV has high quality earnings.

Growing Profit Margin: TLV's current net profit margins (42.3%) are higher than last year (34.1%).

Past Earnings Growth Analysis

Earnings Trend: TLV's earnings have grown by 7.6% per year over the past 5 years.

Accelerating Growth: TLV's earnings growth over the past year (55.4%) exceeds its 5-year average (7.6% per year).

Earnings vs Industry: TLV earnings growth over the past year (55.4%) exceeded the Banks industry 38%.

Return on Equity

High ROE: TLV's Return on Equity (18.7%) is considered low.

Financial Health

How is Banca Transilvania's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: TLV's Assets to Equity ratio (10.8x) is moderate.

Allowance for Bad Loans: TLV has a sufficient allowance for bad loans (130%).

Low Risk Liabilities: 93% of TLV's liabilities are made up of primarily low risk sources of funding.

Loan Level: TLV has an appropriate level of Loans to Assets ratio (40%).

Low Risk Deposits: TLV's Loans to Deposits ratio (47%) is appropriate.

Level of Bad Loans: TLV has a high level of bad loans (5.7%).


What is Banca Transilvania current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: TLV's dividend (2.89%) is higher than the bottom 25% of dividend payers in the RO market (2.82%).

High Dividend: TLV's dividend (2.89%) is low compared to the top 25% of dividend payers in the RO market (5.6%).

Stability and Growth of Payments

Stable Dividend: TLV has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: TLV has only been paying a dividend for 6 years, and since then payments have fallen.

Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (22.8%), TLV's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: TLV's dividends in 3 years are forecast to be covered by earnings (67% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Omer Tetik (48 yo)



Mr. Omer Tetik has been Director at Fondul Proprietatea SA since April 05, 2021. Mr. Tetik has been Chief Executive Officer at Banca Transilvania S.A. since June 2013. His work Experience includes From Dec...

Leadership Team

Experienced Management: TLV's management team is seasoned and experienced (8.3 years average tenure).

Board Members

Experienced Board: TLV's board of directors are considered experienced (7.7 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Banca Transilvania S.A.'s employee growth, exchange listings and data sources

Key Information

  • Name: Banca Transilvania S.A.
  • Ticker: TLV
  • Exchange: BVB
  • Founded: 1993
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: RON15.705b
  • Shares outstanding: 6.29b
  • Website:

Number of Employees


  • Banca Transilvania S.A.
  • 8 George Baritiu Street
  • Cluj-Napoca
  • 400027
  • Romania


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/12/06 21:42
End of Day Share Price2021/12/06 00:00
Annual Earnings2020/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.