UniCredit Tiriac Bank, cons net profit of EUR 24 M in H1

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UniCredit Tiriac Bank announced a consolidated net profit of RON 106.8 million (EUR 24 million) in the first half of 2015, before the payment of minority interest, a press release informs. The financial results follows the same trend as last year when the bank posted a consolidated net profit of RON 106.7 million (EUR 23.9 million) in the first six months of 2014.

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

“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,” Rasvan Radu, UniCredit’s Country Chairman in Romania and UniCredit Tiriac Bank’s CEO said.

In June 2015, the bank’s assets stood at RON 27.3 billion, by almost 5 percent down from the end of 2014.

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

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