UniCredit Tiriac Bank’s profit in Romania reaches EUR 24 mln in H1

UniCredit Tiriac Bank ended the first half of 2015 with a consolidated net profit of RON 106.8 million (EUR 24 million), before minority interests, the group has announced. In the same period, the operational revenues amounted to RON 754.3 million (EUR 169.5 million), while the operational expenses reached RON 391.9 million (EUR 88.1 million). The group has thus registered an operational profit of RON 362.4 million (EUR 81.5 million). The group’s consolidated assets totaled RON 31 billion (EUR 6.9 billion) as of June 30, 2015. Individually, lender UniCredit Tiriac Bank registered operational revenues of RON 617.5 million (EUR 138 million) in the first half of 2015, 5.3% lower year-on-year. The operational expenses amounted to RON 333.5 million (EUR 74.9 million), slightly down compared to the same period in 2014. The bank ended the first half of 2015 with a net profit of RON 84.1 million (EUR 18.8 million), down 7.5% year-on-year. The bank’s assets amounted to RON 27.3 billion (EUR 6.1 billion) at the end of June, 4.8% lower compared to the same period the previous year. UniCredit had 183 branches at the end of the first half, and over 3,300 employees. UniCredit Tiriac Bank is part of UniCredit financial group. In Romania, the group is present 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. UniCredit buys out billionaire Ion Tiriac’s stake in Romanian subsidiary. Irina Popescu, irina.popescu@romania-insider.com