UniCredit Bank reports a consolidated net profit of RON 269.5 million lei (EUR 60.6 million) in 2015, above the level posted in 2014, of RON 143.8 million (EUR 32.3 million), according to the company’s financial results.
Consolidated operating revenues were placed at RON 1.52 billion (EUR 342 million), despite a a continuous decline in market interest margins. Operating expenses amounted to RON 777.5 million (EUR 174.9 million), while the operating income stood at RON 743.9 million (EUR 167 million).
The bank’s return on equity (ROE) was 8.3 percent at the end of 2015, while return on assets (ROA) was placed at 0.8 percent. The ratio between costs and revenues was located at 51.1 percent.
The company’s volume of consolidated assets at 31 December 2015 totaled RON 34.6 billion (EUR 7.6 billion), up 6.8 percent compared to the previous year.
Loan provisions reached RON 406.6 million (EUR 91.5 million) at the end of last year. The rate of provisioning of loans in the balance sheet was 8.9 percent and the annualized cost of risk stood at 186 bp.
NPLs, including exposures with improbability of full payment, were located at 14.40 percent. The cost of lending risk was ranked at 1.86 percent versus 2.92 percent in 2014.
The gross loan portfolio (including financing granted by leasing) increased by 4.8 percent, standing at RON 23.9 billion (EUR 5.3 billion), its positive development mainly driven by an increase of 7.3 percent in the corporate area and 11.1 percent in leasing. At the same time, customer deposits reached a volume of RON 17.9 billion (EUR 3.9 billion).
UniCredit Leasing reached a total of EUR 242.5 million in financing in 2015 and the purchase value of goods financed stood at EUR 294.7 million. UniCredit Consumer Financing posted a 4.5 percent rise in the segment of consumer loans.
“We continued to develop our business, registering positive developments both in the area of lending, where we scored last year an increase of nearly 5 percent of the gross loan portfolio and attracting resources at local level, customer deposits increasing in 2015 by some 12 percent over the previous year,” said Razvan Radu, UniCredit Romania country chairman and CEO of UniCredit Bank.
UniCredit Bank is part of the UniCredit group, present in Romania through UniCredit Bank, UniCredit Consumer Financing, UniCredit Leasing Corporation, UniCredit Insurance Broker, UniCredit Leasing Fleet Management, UCTAM, Pioneer Asset Management and UniCredit Business Integrated Solutions.