UniCredit Romania

In 2006 the strong business growth of UniCredit Romania reflected the dynamic expansion of the branch network; total assets grew by about 50%. At the same time, total revenues rose by more than 32%. In spite of integration-related provisions in the amount of € 4.5 m, the bank more than doubled its profit before tax.

Retail customers:

The bank continued its successful branch network expansion programme in 2006. The number of private customers increased by 86%, loans doubled both in number and in volume. The number of users of electronic banking services nearly tripled and that of product packages sold increased by over 200%.

Corporate customers:

The corporate customer segment accounted for about 70% of the bank’s total revenues; loans to corporate customers rose by 42% to € 387 m. To compensate the narrowing margins on the market, the bank concentrated on offering cash management services and customised product solutions for corporate customers.

International Markets:

Despite stronger competition, trading volumes and revenues in Treasury increased in line with the growth of the bank. Special treasury products for non-banks and a customer-focused approach resulted in a successful year in 2006.

Outlook:

The successful integration of HVB Tiriac Bank and UniCredit Romania, and the focus on business targets, are the top priorities for 2007. The new UniCredit Tiriac Bank will be the fourth-largest bank in Romania with total assets of over € 3 bn, 650,000 customers and 140 branches.