UniCredit Bank profit up by 75.8 percent to EUR 48 mln in H1 on higher income

UniCredit Bank registered a profit growth of 75.8 percent in the first semester of the year compared with 2015 to EUR 48 million (RON 226 million), sustained by an increase of the deposits and loans, but also by the higher incomes from transactions, says UniCredit in a report from Wednesday.

In Q2, Unicredit registered a profit of EUR 30 million on the local market, three times bigger than the one from 2015, valued at EUR 10 million. The incomes from interests increased by 3.2 percent to EUR 101 million, while the incomes from taxes and commissions were EUR 36 million, by 12 percent bigger than in the six months of 2015. The incomes from transactions increased by 26.6 percent, to EUR 47 million, according to News.ro.

UniCredit obtained an operational profit of EUR 108 million (RON 852.8 million) on the local market in the first six months, an increase by 20.8 percent compared with the similar interval in 2015, while the net profit was RON 852.8 million, a growth of 159 percent compared with the same period of 2015.

The operational income increased by 11.2 percent to EUR 187 million in the first semester, while the costs grew by 0.3 percent to EUR 79 million. In Q2, the operational income increased from EUR 84 million in 2015 to EUR 99 million in 2016.

The loans portfolio of UniCredit in Romania went up by 7.3 percent from EUR 4.7 billion in the first semester of 2015 to EUR 5.05 billion in 2016, while the deposits grew by 32.2 percent from EUR 3.25 billion to EUR 4.3 billion. The loans taken out from balance sheet dropped to 27.8 percent in six months from EUR 51 million in 2015 to EUR 37 million.

UniCredit took over the ownership of the local subsidiary from Ion Tiriac in 2015 and changed the bank name from UniCredit Tiriac Bank to UniCredit Bank. UniCredit payed approximately EUR 700 million for the 45 percent share stock.

UniCredit is present on the Romanian market through UniCredit Bank, UniCredit Consumer Financing, UniCredit Leasing Corporationn Unicredit Insurance Broker, UniCredit Leasing Fleet Management, UCTAM, Pioneer Aset Management and UniCredit Business Integrated Solutions.