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June 22, 2021

UniCredit Tiriac Bank posts H1 consolidated net profit of 106.8 million lei

UniCredit Tiriac Bank posted a consolidated net profit of 106.8 million lei (24 million euros) in the first half of 2015, before the payment of minority interest, the bank announced on Monday.

In the same period, consolidated operating revenues amounted to 754.3 million lei (169.5 million euros), whilst operating costs stood at 391.9 million lei (88.1 million euros). Thus, the operating profit hit 362.4 million lei (81.5 million euros). The return on equity (ROE) stands at 6.8pct and the return on assets (ROA) at 0.7pct. The ratio between costs and revenues is 52pct. The non-performing loans ratio is 9.56pct.

“H1 2015 saw a better trend of the economy due to growing consumption and people’s higher confidence in the future. The companies’ level of optimism remains moderate, however, with their expectations having improved only gradually,” said Rasvan Radu, UniCredit’s Country Chairman in Romania and UniCredit Tiriac Bank’s CEO.

In June 2015, the bank’s assets stood at 27.3 billion lei, by 4.8pct down from end-2014. The gross value of the loan portfolio reached 19 billion lei, up by 0.5pct from late 2014, whereas deposits were 14.2 billion lei, down 12.3pct from the same period.

UniCredit ended H1 2015 with a number of 183 units and 3,352 employees in Romania.

According to Agerpres, H1 brought also the transaction under which UniCredit Bank Austria bought a 45pct stake in UniCredit Tiriac Bank, owned by Tiriac Holdings, thus increasing its share from 50.6pct to 95.6pct.

UniCredit Tiriac Bank is part of UniCredit. The Group is present in Romania through UniCredit Tiriac Bank, UniCredit Consumer Financing, UniCredit Leasing Corporation, UniCredit Insurance Broker, UniCredit Leasing Fleet Management, UCTAM, Pioneer Asset Management and UniCredit Business Integrated Solutions.

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