UniCredit reports operating profit up 48.5%

UniCredit Romania reported a 48.5% increase in operating profit, up to 45 million euros.
In prior-year quarter, UniCredit’s operating profit stood at 30 million euros. Profit before taxes hiked 39.1%, up to 36 million euros, from 26 million euros a year earlier.

Operating revenues climbed 21.3% to 79 million euros. In first three months of 2008, operating revenue equated 65 million euros.

BRD-Groupe Societe Generale booked net profit of 210 million lei (49 million euros) this year, down 19% from prior-year period.

The leader of the local banking industry by assets, Banca Comerciala Romana reported profit before taxes and minorities of 330.3 million lei (78.3 million euros) in Q1 2009, 13.7% down year-on-year.

UniCredit Group is present in Romania through UniCredit Tiriac Bank, UniCredit Leasing Corporation NBFI, CA-IB Romania, Pioneer Asset Management SAI and UniCredit Leasing Fleet Management.

UniCredit SpA, Italia’s biggest bank posted on Wednesday a 58% decline in Q1 profit following rising provisions for risks and impaired loans.

The group’s net profit slumped to 447 million euros, down from 1.06 billion euros recorded in fourth quarter 2008. Analysts projected a net profit of 438 million euros.

In view of global economic crisis, the Italian bank chopped headcount, raised 3 billion euros in euros in capital from investors and applied for 4 billions euros in state aid in Italy and Austria.

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