UniCredit Ţiriac Bank ended the third quarter with 67 million RON (almost 16 million euro) net profit, down 6% compared with the same time last year. Nine months into the year, net profit amounted to 215 million RON (52 million euros), a 15% decline compared with 18% in the first half.
Operating revenues exceeded one billion RON (245 million euros) nine months into the year, up 15%, while the credit portfolio rose by 13%, to 13.3 billion RON (3.1 billion euros). Midyear, the lending increase stood at 11%, with the Italian group continuing to apply the strategy designed to boost the loan market share.
On the other hand, operating expenses only rose by 1% in nine months, so that the cost/revenue ratio fell to 41.8% from 47.5% a year ago.
Despite the increase in loan volume, Răsvan Radu, UniCredit Ţiriac Bank's CEO says that the prolonged recession is affecting asset quality.
UniCredit Ţiriac Bank ended the third quarter with 67 million RON (almost 16 million euro) net profit, down 6% compared with the same time last year. Nine months into the year, net profit amounted to 215 million RON (52 million euros), a 15% decline compared with 18% in the first half.
Operating revenues exceeded one billion RON (245 million euros) nine months into the year, up 15%, while the credit portfolio rose by 13%, to 13.3 billion RON (3.1 billion euros). Midyear, the lending increase stood at 11%, with the Italian group continuing to apply the strategy designed to boost the loan market share.
On the other hand, operating expenses only rose by 1% in nine months, so that the cost/revenue ratio fell to 41.8% from 47.5% a year ago.
Despite the increase in loan volume, Răsvan Radu, UniCredit Ţiriac Bank's CEO says that the prolonged recession is affecting asset quality.
