UniCredit profit in Romania – up 39 pc in Q1

The group UniCredit obtained in Romania in the first three months a profit of EUR 36 M, up 39.1 per cent vs. the same period of 2008, Mediafax reports.

In the conditions of a steady exchange rate, UniCredit profit before taxation rose 61 per cent, from EUR 26 M in the first quarter of 2008, and the operational revenues advanced by 40.4 per cent from EUR 65 M. The group registered a growth of 136.7 per cent of the net revenues from taxation and commissions and from operations on the financial markets which totaled EUR 84 M.

The operational costs born by UniCredit in Romania totaled in the first three months EUR 34 M, down 2.5 per cent, but up 12.8 per cent in the conditions of a steady exchange rate. On another hand, the portfolio of deposits attracted by UniCredit in Romania increased by 31 per cent, to EUR 2.385 bln, while the balance of the granted credits rose 21.7 per cent, to EUR 2.88 bln. UniCredit had in Romania at the end of March 260 branches.

The group holds in Romania Unicredit Tiriac Bank, UniCredit Leasing Corporation IFN, UniCredit Leasing Fleet Management, Pioneer Asset Management and CA IB Romania. At world level UniCredit obtained in the first quarter a net profit of EUR 447 M, down 2.3 times against the gains of EUR 1.063 bln registered in the same period of 2008.

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