* Răsvan Radu, the president of UniCredit Ţiriac Bank expects an increase in the demand for loans, in particular on the corporate segment
UniCredit Ţiriac Bank had a net profit of 171.2 million lei in 2010, according to the International Financial Reporting Standards (IFRS), down 47.9% compared to 2009, due to an increase in the cost of risk, the bank"s press communiqué states. The net profit according to the local accounting standards (RAS) was 57.2 million lei last year.
The annual return on equity (ROE) amounted to 7.5%, and the Return on Assets (ROA) stood at 0.8%.
The bank had a 16.6% increase of the operating profit, up to 779 million lei, due to an 8% increase in operating revenues, whereas operating costs only increased 0.4%. The cost/revenue expenses continued to improve, to 42.5%, compared to 46.1% in 2009 and to an estimated 53% for the banking system, the communiqué states. The solvency ratio stood at 12.5% according to the Romanian Accounting Standards (RAS), higher than the required level. The net provisions for the financial assets (mostly customer loans) increased 61.8% compared to 2009.
Răsvan Radu, the CEO of UniCredit Ţiriac Bank, said that he expects an increase in the demand for loans this year, in particular on the corporate segment.
"As early as the first two months of 2011, we see a timid recovery in the interest in investments among corporate customers and we rely on the fact that this area will generate growth this year, but this will happen in the second semester", he said. There is nevertheless interest in retail loans, first in the consumer loans segment and then, gradually in the mortgage loan segment. "The dynamic, whether we are talking about retail or corporate loans, depends first and foremost on the speed of the economy"s recovery and on whether the GDP growth forecast is met", he said.
The vol
