UniCredit Ţiriac Bank ended the third quarterwith 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 (245million euros) nine months into the year, up 15%, while the creditportfolio rose by 13%, to 13.3 billion RON (3.1 billion euros).Midyear, the lending increase stood at 11%, with the Italian groupcontinuing to apply the strategy designed to boost the loan marketshare.
On the other hand, operating expenses only roseby 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 isaffecting asset quality.
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