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UniCredit Tiriac Bank obtained a consolidated net profit of RON 177.4 M (EUR 40 M) in 2012, according to international financial reporting standards (IFRS), up 11.3 against 2011, due to higher incomes and lower provisions, Rasvan Radu, CEO UniCredit Tiriac Bank announced yesterday in a press conference. The individual net profit obtained by the bank (without the contribution of UniCredit Consumer Financing) last year is RON 173.1 M, 11.5 pc higher than the previous year. The net provisions for financial assets (preponderantly loans to customers) diminished by 4.2 pc against the previous year. The solvency rate is at a comfortable level of 13.5 pc, according to IFRS (calculated by excluding the profit registered in 2012). The bank has a good liquidity position. “In a year 2012 with a rather symbolic growth of the economy, with a real decline of crediting and significant losses for the banking system, we succeeded achieving a real 2-digit growth of the business, we balanced the assets with the liabilities attracted from customers, we were very careful with the potential risks, we improved our market position and obtained a good profit, while generally maintaining profitability at stable levels,” Rasvan Radu mentioned. The total assets of UniCredit in Romania place it on the 3rd position on the market, climbing one place in the top of banks based on assets, reaching the 5th place.The operational incomes of UniCredit Tiriac Bank soared by 2.1 pc to RON 1.25 bln, driven by the evolution of the non-interest segment. The volume of assets reached RON 25.1 bln (EUR 5.7 bln) at the end of 2012, up 9.8 pc against 31 December 2011. The total consolidated assets of UniCredit Tiriac Bank, UniCredit Leasing Corporation and UniCredit Consumer Financing amounted to RON 28.2 bln (EUR 6.4 bln), 8.2 pc more than at 31 December 2011, while the net consolidated profit of the three entities topped RON 175 M, equivalent to a 9 pc increase. The credits extended to the Corporate segment advanced by 12 pc and the volume of loans to SMEs went up 54 pc.The value of loans approved for supporting the financing of projects with European funds exceeded EUR 500 M in 2012, with the approvals pertaining to 2012 exceeding EUR 100 M. As for the Corporate segment, among the strategic actions there was a focus on strategic industries, with high development potential, respectively energy, telecommunications, agriculture, pharmaceutics, retail. “The increase in 2013 will be inertial on the bank’s green energy portfolio, because a rectification of the legal framework is being considered,” Radu explained. According to the bank official, this year will be marked by extended crisis, with a still limited level of demand and higher risks of default.