UNICREDIT BANK S.A.

  |  2013-08-06

UniCredit Tiriac Bank - increase of 177% in profit compared to the first half of 2012

UniCredit Tiriac Bank posted a net profit of 202.9 million lei, at individual level (eur 46.2 million) in the first half of 2013 more than 2.5 times higher than in the first six months of 2012

increase

Outstanding financial performance is driven by the sustainable business model and a good income generating capacity.

 

Bank's total revenue was 693.5 million lei (eur 157.9 million) in the first six months of the year, up 17.3% compared to the same period in 2012 mainly due to higher income from commissions - generated by growing volumes - and from trading operations.
In the first half of the year, operating expenses reached 320.7 million lei (eur 73 million), up 2.5% compared to the first half of 2012, a rate two times smaller than the average annual inflation (5, 4%).

 

Read the entire article in Romanian, here.

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