The mother-group posted yesterday earnings before taxes worth €36 mln for its local operations, which include banking, leasing, and asset management operations, plus the CA IB Romania broker.
UniCredit Bank set aside RON 38 mln (€9 mln) for provisions in the first three months of this year, 56 percent up on Q1 2008. The lender’s assets amounted to €4.4 billion (RON 18.5 bln) in Q1 2009, a 34 percent increase compared to the first quarter of 2008, and a slight rise in assets computed in lei from the RON 17.5 bln posted at the end of 2008.
“Regarding the loan volume, this is, more or less (in real terms) equal to that registered at the end of 2008, with a slight increase on the retail segment and relatively constant on corporate,” said the lender’s Chief Executive Officer, Rasvan Radu, in a recent interview for Business Standard.
The bank has almost balanced its loan-deposit ratio, at 126 percent at the end of the first quarter, compared to 145 percent at the end of last year. UniCredit Tiriac Bank’s deposits total €2.4 bln, up 48 percent compared to the same period of 2008.
