UniCredit Tiriac Bank ups net profit by 18% in Q1 in Romania

The consolidated net profit of UniCredit Tiriac Bank and UniCredit Consumer Financing increased by 18 percent in the first quarter of 2014 in Romania, reaching RON 72 million (EUR 16 million). The operational revenues went slightly up to RON 375 million (EUR 83.3 million), supported by a 9 percent increase in net fees income and the positive evolution of income from trading. The operational expenses totaled RON 178 million (EUR 39.5 million), up 4 percent year-on-year, which led to an operating profit of RON 197 million (EUR 43.7 million), down 2.5 percent. The volume of assets was RON 25.9 billion (EUR 5.8 billion) at end-March, while the credit portfolio decreased by 2.5 percent compared to the end of 2013 to RON 18.3 billion (EUR 4 billion). Deposits from customers were at RON 13.6 billion (EUR 3 billion) at the end of March 2014. The ratio between credits and deposits was 135 percent. At the end of the first quarter UniCredit Tiriac Bank had a total of 188 branches, while the number of employees for UniCredit Tiriac Bank and UniCredit Consumer Financing was of over 3,100. Irina Popescu, irina.popescu@romania-insider.com