HVB Tiriac Bank

In 2006 the bank successfully completed the integration of HVB Bank Romania and Banca Tiriac. Adjusted for integration effects, the Romanian subsidiary HVB Tiriac Bank recorded increases of over 10% in total assets and revenues and about 14% in profit before tax. The adjusted cost/income ratio further improved to 44%.

Retail customers:

The bank doubled the number of loans to private customers in 2006, with lending volume increasing by nearly 40%. The number of customers using online banking services also doubled.

The Private Banking department increased its customer base by 48%, assets under management exceeded € 45 m in 2006.

Corporate customers:

The number of corporate customers rose from 1,760 to 3,400 in 2006 and loans to corporate customers reached € 1.23 bn at the end of the year. In 2006 the bank concentrated on selling derivative products and cash management services as well as providing customised product solutions for large customers, particularly innovative invoice/bill collection models. In the real estate financing segment, the bank extended its leading market position and doubled its loan volume.

International Markets:

In addition to integration-related activities, the Treasury unit increased its FX and NII revenues, due above all to increases in new customers and customer-friendly product solutions as well as to its market leadership
in trading.