UniCredit Ţiriac Bank sees revenues up while profit takes a 15% plunge

UniCredit Ţiriac Bank posted a net profit of EUR 52 million in the first nine months of the year, down 15 percent on the same period last year. The bank’s revenues were however up 15 percent, to around EUR 239 million, while its expenses grew by only 1 percent.  UniCredit Ţiriac Bank’s assets advanced by 1.2 percent, to EUR 4.7 billion. Its loans portfolio grew by 13 percent compared to the beginning of the year, to EUR 3 billion, while deposits amounted to EUR 2.2 billion.

“The credit risk was up but is still under the average in the banking system, while loan installement payment delays of over 90 days have reached 11.5 percent. The provisioning of the portfolio reached 7.1 percent, according to IFRS,” reads the UniCredit release. The bank has 526,000 active clients and 234 branches in Romania.

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