Press Releases
UniCredit Tiriac Bank records a net consolidated profit of RON 141,6 mn - EUR 31,8 mn - at 9M 2014
12.11.2014
- UniCredit Tiriac Bank continued to actively support the real economy and maintained its customer-oriented business approach. SME loans grew by 9.5%, Corporate loans by 7.1% as compared to the beginning of the year. Disbursements of loans for EU Funds projects increased by 22% Sept 2013 to Sept. 2014
- UniCredit Tiriac Bank prudently manages actual and potential risks related to the quality of the loans portfolio
In the first 9 months of 2014, UniCredit Tiriac Bank reports a consolidated net profit after minority interest of RON 141.6 mn (EUR 31.8 mn).
Consolidated revenues stood consistently at RON 1.16 bn (EUR 261 mn) for the reported period, a similar level compared to the first 9M of 2013, despite significant shrinking of the interest margins last year, countered by the bank's stronger positioning on high potential business areas. Operational expenses were RON 585.3 mn (EUR 131.6 mn), as the bank continued to closely control costs. Thus, gross operating profit reached a confortable level of RON 575.7 mn (EUR 129.4 mn). Net impairment on loans reached RON 376.1 mn (EUR 84.5 mn).
UniCredit Tiriac Bank continues to carefully look at all actual and potential risks and to reflect them in an adequate manner in the loan loss provisions.
The results are reflected in solid financial indicators: annualised Return-on-Equity (ROE) was 6.3%, while Return-on-Assets (ROA) was 0.7%. Cost-to-income ratio remained at a balanced level of 50%.
UniCredit Leasing, the local market leader, increased its financing for the purchase of vehicles and equipment by 20% in the 9M 2014 compared to the same period of last year, to an aggregate value of RON 925 mn (EUR 208 mn). The volume of total assets increased slightly, to RON 2.87 bn (EUR 650 mn) at the end of September 2014.
"We are moving towards the end of a year filled with effervescent activity, but no less difficult than the previous one for the local financial sector. We are close to completing the integration of Corporate clients from RBS Romania, which required a significant increase in our efforts, but the process is running smoothly and will help us position ourselves more strongly as one of the top players in this segment. We focus more than ever on EU funds co-financing, knowing that 2014 and 2015 are critical years for the success of large public projects in the country and for the absorption rate in Romania. In the overall market, we continue our efforts to attract the bankable demand, which remains modest despite record low interest rates" said Rasvan Radu, Country Chairman UniCredit in Romania and CEO of UniCredit Tiriac Bank.
Consolidated balance sheet reached RON 28.9 bn (EUR 6.55 bn) at the end of September 2014. Outstanding on-balance sheet loan portfolio was RON 22.2bn (RON 23.7 bn including externalised loans), supported by the increase of small business portfolio (9.5% up year-to-date) and Corporates (7.1% up year-to-date).
UniCredit Tiriac Bank maintains its focus on SMEs and EU Funds projects. For small and medium scale clients, the Bank has implemented a fast approval flow and measures of internal operational efficiency, reflected by an improvement in the client service model.
EU Funds projects have shown a remarkable evolution, proven by the volume of approved facilities in the first 9 months of this year, which has exceeded the entire volume for the last year. Also, outstanding disbursed loans for EU Funds beneficiaries increased by 22% between September 2013 and September 2014. Agriculture represents a third of these volumes, which confirms UniCredit Tiriac Bank’s commitment to this strategic economic field.
Customer deposits reached RON 12.6bn. While key reference rates continued to slide at market level, clients appetite for higher earning investment and saving options increased. Outstanding amounts placed in investments funds sold by UniCredit Tiriac Bank were up 134%, from RON 159.5 mn (EUR 35.7 mn) at 30 September 2013 to RON 373.9 mn (EUR 84.8 mn) at 30 September 2014.
The bank benefits from a comfortable liquidity position, both from local sources, financing lines from Group level and IFIs.
UniCredit Tiriac Bank ended the reported period with 184 branches and 3,378 employees.
Presented results are consolidated for UniCredit Tiriac Group - which includes UniCredit Tiriac Bank as a parent company and subsidiaries UniCredit Consumer Financing IFN SA, UniCredit Leasing Romania SA, UniCredit Leasing Corporation IFN SA, ALLIB Leasing SRL, Debo Leasing IFN SA and UniCredit Insurance Broker SRL. The financial indicators are published according to IFRS and regulation for credit institutions in Romania.
About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of UniCredit, leading European financial group with the largest CEE presence. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products for 580.000 clients. The bank strives to have a client centric policy, to be an easy to deal with partner and an active part of the communities in which it operates.
UniCredit Group is also present in Romania through Unicredit Tiriac Bank, UniCredit Consumer Financing (UCFIN), UniCredit Leasing Corporation (UCLC), UniCredit Insurance Broker, Unicredit Leasing Fleet Management, Unicredit Leasing Romania, Allib ROM, Debo Leasing, UCTAM, Pioneer Asset Management si UniCredit Business Integrated Solutions (UBIS).
* On a stand alone basis, total operational revenues at 30.09.2014 were RON 980.5 mn (EUR 220.4 mn), down 4.7% year-on-year. Operational expenses increased by 3.9% to RON 511.8mn (EUR 115 mn). Thus, gross operating profit was RON 468.7 mn (EUR 105.4 mn), down 12.7% year-on-year. Net profit for the period was RON 119.3mn, down 44.2% versus 9M 2013. Cost-to-income ratio was 52.2%, up 4.3pp versus the similar period of last year.
The bank has proven a high resilience to the adverse economic environment - and to the potential deterioration scenarios for the coming years - as it was highlighted by the good results displayed at group level in the Asset Quality Review (AQR) performed by the European Central Bank (ECB) in collaboration with the European Banking Authority (EBA). This confirms that the group is very solid and has a strong capital position, significantly above all thresholds. Locally, UniCredit Tiriac recorded a solvency rate of 13.4% at September 30, 2014 on a standalone basis, above mandatory and recommended national thresholds.
Annualised Cost-of-risk for the period was 262bp, while Non-performing-loans ratio was 10.48% (over 90 days overdue). Considering all overdue loans, rate was 22.16%.
Total balance sheet of the Bank was RON 25.2mn (EUR 5.7 bn), down by 8.2% compared to December 2013. Gross Loans were up by 3.7% year-to-date, at RON 18,2 bn (EUR 4.1 bn). Deposits reached RON 13 bn (EUR 2.9 bn), down by 14.5% year-to-date. Loan-to-deposits ratio was at 140.5% on a stand alone basis.
UniCredit Tiriac Bank obtained a consolidated net profit of RON 106.7 mil - EUR 23.9 mil - in the first half of 2014
06.08.2014
- SME loans grew by 10%, individuals segment by 13%, Corporates by 2.6%
- The bank continued to focus on careful risk administration and efficiency
- UniCredit Tiriac Bank announced yesterday the signing of the agreement to trasfer to Corporate clients of RBS Romania, after taking over the Retail porfolio last year. The bank thus confirms its commitment to the Romanian market, with a well-balanced strategy, adapted to the current market reality
UniCredit Tiriac Bank has posted a consolidated net profit after minority interest of RON 106.7 million (EUR 23.9 million) in the first half of 2014.
Consolidated operational revenues were RON 754.5 million (EUR 169 million), while operational expenditures were RON 374.8 million (EUR 83.9 million). Operational profit reached RON 379.7 million (EUR 85 million). Loan impairment stood at RON 263.7 million (EUR 59 million) in the first half of this year.
Financial indicators of UniCredit Tiriac Bank, calculated after minority interest, reveal a balanced position, better than the system average: ROE was at 7.2% in the first 6 months of 2014, while ROA was 0.7%. The constant concern for an efficient cost control was reflected by the cost to income ratio of 49.7% in June 2014.
"UniCredit Tiriac Bank continued to sustain the dynamic of lending in the first half of the year, with SME and RON mortgage proving to be the higher potential areas. The transaction for the acquirement of Corporate clients from RBS Romania - which we have just announced - comes as a natural step, but also as a confirmation of our commitment to growth on the Romanian market, with a well-balanced strategy, adapted to the current market reality and long-term oriented. For the rest of the year, the Romanian economy could benefit from a possible acceleration of EU Funds absorption and consumption recovery - which has already shown some signs of settling on a positive trend, although with a considerable delay", said Rasvan Radu, CEO of UniCredit Tiriac Bank.
Assets were at a total of RON 28.9 billion (EUR 6.6 billion) at 30 June 2014. Loan portfolio reached RON 21.8 billion (RON 23.4 billion including externalized loans) at half year, supported by the increase of 10.4% in SME loans and of 13.1% in private individuals between June 2013 and June 2014.
Customer deposits reached a total volume of RON 12.8 (EUR 2.92 billion) and the evolution was supported by a 10.1 % volume growth in the SME in the last year, respectively 9.2 % for medium-sized companies and 23.5 % for individuals in the same interval.
The ratio between loans and deposits stood at 171%.
UniCredit Tiriac Bank ended the first semester with 187 branches, while the total number of employees for UniCredit Tiriac Bank and UniCredit Consumer Financing reached 3.333.
Results are presented based upon consolidated results for UniCredit Tiriac Group - which includes UniCredit Tiriac Bank as a parent company and subsidiaries UniCredit Consumer Financing IFN SA, UniCredit Leasing Romania SA, UniCredit Leasing Corporation IFN SA, ALLIB Leasing SRL, Debo Leasing IFN SA si UniCredit Insurance Broker SRL. Results according to IFRS and NBR regulation for credit institutions in Romania.
About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of UniCredit, leading European financial group with the largest CEE presence. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products for 580.000 clients. The bank strives to have a client centric policy, to be an easy to deal with partner and also an active part of the communities in which it operates.
UniCredit Group is also present in Romania through Unicredit Tiriac Bank, UniCredit Consumer Financing (UCFIN), UniCredit Leasing Corporation (UCLC), UniCredit Insurance Broker, Unicredit Leasing Fleet Management, Unicredit Leasing Romania, Allib ROM, Debo Leasing, UCTAM, Pioneer Asset Management si UniCredit Business Integrated Solutions (UBIS).
UniCredit Tiriac Bank to acquire the RBS Romania Corporate Banking business
05.08.2014
UniCredit Tiriac Bank S.A. ("UniCredit Tiriac Bank”) and The Royal Bank of Scotland plc, Edinburgh, Romania Branch ("RBS Romania”) have agreed the transfer of the Corporate business of RBS Romania to UniCredit Tiriac Bank.
The agreement refers to a total portfolio of aggregate assets of around EUR 260 million and corporate deposits of around EUR 315 million. RBS Romania's client portfolio consists of over 500 Mid Market and Large private Corporates, local and international, as well as public and financial institutions. RBS Romania staff will transfer to UniCredit Tiriac Bank, subject to consultation with the social partners.
The transaction will be finalised after receipt of the necessary approval by the Competition Council. The transfer completion date is envisaged to be in the coming months. The financial terms and the conditions of the transaction are not to be disclosed.
"This new portfolio acquisition represents another natural step for us, as UniCredit - leading European banking group - is committed to sustainable growth on the Romanian market. After the acquisition of the Retail and Royal Preferred Banking business from RBS Romania last year, the full integration of the Corporate portfolio is a very suitable choice, as both banks share common values of business excellence and customer centricity. Corporate represents a core business for us and this development perfectly fits our strategy in the medium and long-term, while at the same time consolidating our leading position in the market”, declared Răsvan Radu, CEO UniCredit Tiriac Bank and Country Chairman of UniCredit in Romania.
"We are glad that we are now in the position of announcing the transfer of our corporate business to UniCredit Tiriac Bank. We are confident that this will bring a lot of benefits and added value to our clients. The most important selection criteria that we used in choosing our partner to which to transfer our business, clients and people was the level of their product and service offering, as well as their commitment to the Romanian market. Our customers are very important to us and we would like to ensure them that UniCredit Tiriac Bank will take over and build on the relationship we have developed with them. Until the transfer completion date, we remain committed to providing each client with the same quality service as they are used to” said Henk Paardekooper, CEO of RBS Romania and Hub Executive of RBS Central and Eastern Europe.
RBS Romania and UniCredit Tiriac Bank are committed to jointly ensure a smooth transition of customer accounts and banking products. All customers will be kept fully informed of the transfer process and its timing. There will be no change to the clients’ contractual conditions and to the technical details of their respective products and services. Once the transfer is completed, clients will benefit from both the existing base built by RBS and of the partner’s contribution that will result in an enhanced customer experience.
Notes for editors:
UniCredit Tiriac Bank is part of UniCredit, leading European bank with the largest presence in CEE. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products to all clients segments through 188 branches. The bank has a client centric policy and strives to be an easy to deal with partner and an active part of the communities in which it operates.
UniCredit Group is also present in Romania through UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).
The Royal Bank of Scotland plc, Edinburgh, Romania Branch (RBS Romania) is part of the Royal Bank of Scotland Group plc. The bank has been present on the local market since 1995, being one of the first foreign banks to operate in Romania. More details about RBS Romania are available at www.rbs.ro.
Contact persons:
UniCredit Țiriac Bank
Elena Constantinescu - Media Relations
elena.constantinescu@unicredit.ro
Phone: +40 21 200 17 67
Mobile: +40 732 610 202
RBS Romania
Cristina Mihaila - Head of Communication&Marketing
cristina.mihaila@rbs.com
Phone: +40 21 20 20 400
Mobile: +40 729 035 379
UniCredit and the UEFA Champions League: five years of successful partnership
26.05.2014
- With the impending close of the 2013-14 season, UniCredit celebrates its fifth year of sponsoring the UEFA Champions League. The sponsorship continues to effectively promote UniCredit’s brand in Europe, delivering a return on comparable costs of more than 200%.
- UniCredit’s cooperation with Panini, which began in November 2013, has provided the Group with a new means to leverage its sponsorship.
- Next season, the UEFA Champions League Trophy Tour presented by UniCredit will bring the trophy to five European countries for the sixth consecutive year.
The historic match between Real Madrid CF and Club Atletico de Madrid at the Estadio da Luz marked the conclusion not just of another exciting UEFA Champions League season, but of the fifth successful sponsorship year of UniCredit, the Official Bank of the UEFA Champions League.
Sponsorship continues to burnish the UniCredit brand
According to the latest reports and market research, the sponsorship continues to deliver positive results for UniCredit. From season 2009-2010 until season 2012- 2013, UniCredit has generated almost 12 billion contacts and collected over 500,000 leads in total thanks to various UEFA Champions League promotions and activities. Across nearly all of UniCredit’s markets, the bank’s various entities and subsidiaries launched almost 250 UEFA Champions League-related campaigns and sold roughly 1.4 million related products after four seasons. To date, UniCredit has shared its excitement for the UEFA Champions League with over 46,000 of its guests at matches.
Marketing research validates investment
Market research shows that since the start of the engagement (November 2009 to May 2013) the sponsorship awareness of UniCredit brands across its network has doubled on an aided level and tripled on a spontaneous level. Across all 16 analyzed countries UniCredit brands have achieved an increase in aided brand awareness by 22% within the total catchment area (on spontaneous level by 43%) and by 29% among the UEFA Champions League viewers. During the same period the gap between the UEFA Champions League viewers and non-viewers also increased by 86% from 7 to 13 percentage points. The impact of the sponsorship on UniCredit’s brand image has been significant in almost all countries. On a group wide basis, the propensity to buy is driven primarily by the expectation of finding a leading bank that stays close to its customers and is fair and transparent in its dealings. People who are aware of its UEFA Champions League sponsorship tend to associate these image statements with UniCredit. The perception of UniCredit as being very or quite appealing is 64 percent higher among those who are aware of the sponsorship. This group also is 71 percent more likely to purchase UniCredit products.
UniCredit and Panini’s virtual sticker collection proves a hit in its first year
For the 2013-14 UEFA Champions League season, UniCredit and Panini, the sports memorabilia company, partnered to launch a collection of virtual stickers for fans to collect, trade and enjoy online in a variety of ways. The special website for the collection “unicredit.eu/champions/collection”, available in eight languages, invites enthusiasts to participate in an imaginative selection of sticker-related challenges. In season 2013-2014, this successful initiative attracted the participation of roughly 42,000 registered users and generated a rapid increase in Facebook fans as the season progressed. UniCredit and Panini look forward to continuing this innovative partnership for the coming 2014-15 UEFA Champions League season.
Welcoming the new season with the 2014 Trophy Tour
In September, for the sixth consecutive year, UniCredit will continue its tradition of taking the iconic UEFA Champions League trophy on a tour through Europe for the enjoyment of football fans across the continent. This year the UEFA Champions League Trophy Tour will open in Warsaw in mid-September before continuing to Bratislava, Vienna, Zagreb and Belgrade, where the program will conclude at the end of October. As in 2013, the trophy will be displayed on an official podium in front of a monumental backdrop that enables visitors to get a taste of the UEFA Champions League experience as they pose for pictures alongside the famous prize. Admission to the Trophy Tour is free, and the trophy is accompanied by a lively exhibition of UEFA Champions League-related content and interactive displays. In its first five years, the UEFA Champions League Trophy Tour presented by UniCredit visited 66 European cities in 14 countries. More than 500,000 fans have participated, taking more than 146,000 pictures with the iconic trophy. On average, over 514 million contacts were made by each tour. An average ROI of 399 percent was achieved by these tours from 2009 to 2013.
UniCredit Tiriac Bank presents Young Designers Exhibition within Romanian Design Week 2014
15.05.2014
Bucharest, 15 May - UniCredit Tiriac Bank supports Romanian product design, continuing the partnership with Romanian Design Week, an event that brings together the most important works by Romanian designers.
Within the central exhibition Romanian Design Week (RDW 2014), which takes place between 16 and 25 May, at the Palace of the Chamber of Commerce in Bucharest (Ion Ghica 4), will also be presented some of the best diploma works belonging to students from universities across the country of Young Designers Exhibition.
“The involvement of UniCredit Tiriac Bank in the authentic Romanian design area already becomes a tradition - we continue the partnership which began two years ago with BUCHAREST DESIGN CENTER and the one started in 2013 with the most important design event in Romania - Romanian Design Week. This year we have decided to support the exhibition of young designers, because they are the ones who a few years later will bring Romanian design ahead, positioning Romania on the international product design map”, declared Anca Nuta, Head of Identity and Communication, UniCredit Tiriac Bank.
Young Designers Exhibition reunites over 90 works and is organized in partnership with major universities and colleges of art and architecture from Bucharest and across the country:
BUCHAREST:
"Ion Mincu" University of Architecture
"Ion Mincu" University of Interior Architecture: Interior Architecture and Product Design
Univeristy of Decorative Arts and Design - UNARTE: Design (Ambient + Product Design) and Fashion
“Spiru Haret” University of Architecture
ARAD
Faculty of Design - „Aurel Vlaicu” University
CLUJ
University of Decorative Arts and Design at the University of Art and Design - Departments: Fashion and Design
IASI
University of Visual Arts and Design - "George Enescu" University of Arts
"GM Cantacuzino" University of Architecture - "Gheorghe Asachi" Technical University
TIMISOARA
University of Architecture - Polytechnic University
The works from Young Designers Exhibiton can be seen in Cluj-Napoca (June), Timisoara (September) and Iasi (October), in branches of UniCredit Tiriac Bank.
About UniCredit Tiriac Bank
UniCredit Tiriac Bank is a leading European bank, whose activities place a particular emphasis on the visual arts, at the same time covering the areas of music and literature, in the spirit of UniCredit Group’s tradition. The bank financially supports the first center of independent art and culture, open under the name PAVILION, being also a strategic partner of the Biennial of Contemporary Art Bucharest. The cultural-artistic component of ethics and responsibility of the bank are focused on the involvement in long-term projects, which are financed as a principal partner - for instance, George Enescu International Competition and Sibiu International Theatre Festival.
About Romanian Design Week
Romanian Design Week is a celebration of local design and the most important objectives of this event are: promoting design, the interaction of specialists from different branches of design, attracting the widest possible audience from the areas that it aims to cover, but also generating the proper context for the development of these disciplines in Romania.
A project of The Institute, Romanian Design Week is an annual event that promotes contemporary Romanian design as a tool which can contribute to social, economic and cultural progress.
It is the first project entirely dedicated to Romanian design, which addresses both the public and professionals. Each year, Romanian Design Week traces a map of events and spaces that promote design. In 2014, RDW will take place between 16-25 May.
Romanian Design Week is an event Inspired by Peroni Italy.
UniCredit Tiriac Bank records a net profit of RON 72.1 million in T1, up by 18%
12.05.2014
- Return on equity (ROE): 10%
- Return on assets (ROA): 1.1%
- Solvency ratio: 14.12%
12 May 2014 - The consolidated net profit after minority interest of UniCredit Tiriac Bank and UniCredit Consumer Financing increased by 18% in the first quarter of 2014 to 72.1 million Lei (16.0 million Euros).
Operational revenues reached 375 million (+0.5% compared to the first quarter of last year), supported by a 9% increase in net fees income and the positive evolution of income from trading. Operating expenses were at 178 million lei, up by 4%, which led to an operating profit of 197 million lei, decreasing by 2.5%. Credit risk provisions have decreased by 11% to 112 million Lei.
Financial indicators calculated after minorities reflect a positive evolution in the first quarter: return on equity (ROE) reached 10.0%, while return on assets (ROA) stood at 1.1%. The Cost/Income ratio was 47.4%, decreasing by 1.3 percentage points compared to the end of 2013. Provision coverage rate of balance sheet credits has increased compared to the end of 2013, reaching 10.7%.
The volume of assets was 25.9 billion Lei (5.8 billion Euros) at 31st March 2014. Credit portfolio shrank by 2.5% compared to the end of 2013, to 18.3 billion Lei (20.4 billion Lei, including externalized credits), influenced by the weakcredit demand in the market.
The income generated by credit facilities dedicated to projects with non-refundable financing (European and national) increased by 50% in the first quarter of 2014 compared to the value recorded in the same period in 2013 (from 1.7 million lei in the first three months of the previous year, to 2.6 million in the first quarter of 2014), considering that the use of credit volume has increased (up to 330 million lei from 276 million Lei).
Deposits from customers were at 13.6 billion Lei at the end of March 2014. Ratio between credits and deposits was 135%. The bank is well above the limits imposed by Basel III, both in terms of capital adequacy ratio (14.12%) and the TIER 1 (13.5% versus 4.5% level requirements).
UniCredit Tiriac Bank ended the first quarter with a total of 188 branches, while the number of employees for UniCredit Tiriac Bank and UniCredit Consumer Financing reached 3,116.
"The context of the market remains difficult for the private sector, given the fact that positive developments shown by statistics are not reflected yet in a similar manner in the business’ activities and household budgets. Although it remains at a modest level, we expect a slight increase in loans appetite in the time ahead. For the rest of 2014, good news could come from European funds and large infrastructure projects," said Rasvan Radu, CEO of UniCredit Tiriac Bank.
About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of UniCredit Group, leading European bank. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products for 600.000 active clients, through 188 branches. The bank aims client centricity policy, to be an easy to deal with partner and also an active part of the communities in which it operates.
UniCredit Group is also present in Romania through UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).
UniCredit Tiriac Bank is the only bank in Romania certified Top Employers Europe 2014
25.04.2014
25 April 2014 - UniCredit Tiriac Bank has received the Top Employers Europe certificate for the third consecutive year, which ranks the bank among employers with the highest standards and practices of human resources management in Europe.
The international research conducted annually by Top Employers Institute recognizes the merits of top employers from around the world due to the conditions offered to employees, developing talents at all levels of the organization and continuously improving recruitment practices. UniCredit Tiriac Bank is one of the few companies that have been awarded the exclusive certification in 2014, along with other UniCredit subsidiaries.
In order to receive the Top Employer 2014 award, the companies have to be certified in at least 5 European countries. The independent research has validated UniCredit Tiriac Bank as a part of the select group of certified employers.
UniCredit Tiriac Bank has undergone research and audit, in which the following were evaluated: corporate culture, career opportunities, training and development, work conditions, basic benefits and secondary benefits package.
Top Employers methodology for selection is based on three evaluation levels: an extensive research based on factual information, interviews with companies’ representatives and a comparative evaluation of participating companies. The methodology is certified by the Ministry of Economy, Trade and Business Environment in the Netherlands, the research being audited by Grant Thornton, one of the largest audit companies in the world.
Alina Dragan, Human Resources Executive Vice-president, UniCredit Tiriac Bank: "We are an organization oriented towards innovation and maintaining a dynamic and efficient working environment. Top Employers certification, received for the third consecutive year, confirms the commitment that we have for the development of our employees and organizational culture as a whole."
Johann Labuschagne, Top Employers Institute Director: "Our thorough researches have confirmed that UniCredit Tiriac Bank is part of a small group of top employers that raise working standards worldwide and have the best practices for employees."
About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of UniCredit group, top European bank. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products for 600.000 active clients, through 188 branches. The bank aims client centricity policy, be an easy to deal with partner and also an active part of the communities in which it operates.
UniCredit Group is also present in Romania through its partners: UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).
UniCredit Tiriac Bank introduces a new communication platform - Restart Romania
14.04.2014
April 14th 2014 - UniCredit Tiriac Bank and UniCredit Consumer Financing launch a new campaign endorsing the "Personal accomplishments loan", part of the bank’s new communication campaign: "Restart Romania".
This is the first integrated campaign for the Retail segment communicated under the new platform and it was developped together with McCann Erickson Romania.
The campaign was launched on April 10th 2014, the first execution followed by two tactical commercials which points to the product promise, which UniCredit Tiriac Bank and UniCredit Consumer Financing bring forth in order to support the message.
Creative idea
UniCredit Tiriac Bank and UniCredit Consumer Financing, together with McCann Erickson Romania advertising agency, took upon themselves to redefine the perception on financing personal projects by means of "personal needs loans", in accordance with the actual developments of the economy.
During the last 5 years, due to the financial crisis, most Romanian focused on covering basic needs, daily necessities and they postponed future personal projects and any other investments that would have brought them joy and a feeling of accomplishment.
"We believe that, today, both the financial market and the consumers are more mature and better adapted to the new reality. We trust that we can offer our clients convenient financing, which can help them prosper or fulfill their wishes without future endanger of their families’ budget stability", said Gauthier van Weddingen, CEO of UniCredit Consumer Financing.
The campaigned will be communicated on TV and online, between April 10th - May 25th 2014.
"We encourage people to resume the projects which maybe they gave up five years ago. To have the courage to dream again and to believe in realistic aspirations, which can bring them future benefits. We believe that it is time to talk once again about accomplishments and fulfilled wishes. To look beyond everyday needs and worries. To concentrate on putting in practice projects for the future. That is why the “personal needs loan" becomes the “personal accomplishments loan". Economic data have begun to show signs of recovery. We do not claim that it is a simple thing to do, but we believe that it is time to set things on much healthier bases. Despite the challenges we all are familiar with, we believe that together we can inspire positive change. We can Restart Romania. This is the bank’s new communication platform and the umbrella under which we will communicate future retail campaign", concluded Anca Nuta, Identity&Communication Director, UniCredit Tiriac Bank.
The Personal Accomplishments Loan without Mortaage from has a DAE starting at 10,5% and it can be contracted for a maximum period of 5 years. The contracted amount cannot exceed 90.000 RON.
For a Refinance Loan without Mortage totally amounting 45.000 RON for 24 monts: anual variable interest is 10,00% (3M ROBOR + 6,92%), analyze fee 0 RON, monthly administration fee 0 RON, interest rate 2.076,5 RON (for equal repayments, the value of the optional life insurabce not being taken into account), total repayment value 49 836,5 RON, DAE 10,5%.
Among benefits:
- Analyze fee and monthly administration fee - 0
- Clients can opt for a optional life insurance package with complex coverage: death by any means, invalidity, temporar work incapacity of unemployment (as per the clauses included in the contact)
- Fast approval
- Accessible minimum income. E.g., 450 RON for a loan amounting a maximum 17.500 RON
- A large array of income is taken into consideration: wages; income obtained by sailors, rent, copyright, dividends, allowances, etc
The McCann Erickson Romania which contributed to the campaign is made up of: Creative Partner - Adrian Botan, Creative Director -Andres Vergara, Head of Strategy - Diana Ceausu, Client Service Director - Dana Hogea, Copywriter - Cristina Calota, Copywriter -Catalin Stanciu, Art Director - Ionut Coanda, Strategic Planner - Ileana Serban Parau, Senior Account Manager - Laura Aldea, Account Executive - Loredana Ulceluse, Chief Growth Officer - Beatrice Iftimi, Head of AV Production - Tiberiu Munteanu, AV Producer -Alexandru Platon.
The UniCredit Tiriac Bank: Identity&Communication Director - Anca Nuta, Team Leader Marketing Retail - Raluca Clej, Marketing Officer - Anca Popa. For UniCredit Consumer Financing: Head of Marketing & Product Development - Raluca Zamfirache, Marketing Officer -Laura Maxim.
The TV commercial was produced with the help of MITRA Film, ABIS Film post-production studio, directed by Anton Groves and withMichael Brierley as DOP. The narration is made by Irina Pacurariu, TV anchor.
UniCredit Tiriac Bank registered in 2013 a slight increase in factoring volumes, despite the profile market overall decrease
09.04.2014
9 April 2014 - The volume of factoring operations conducted by UniCredit Tiriac Bank in 2013 reached 812 million Euros, an increase of approximately 2% compared to the previous year, in the context in which, as the Romanian Factoring Association has announced, the specific local market registered, during the same period, a decrease of 6%, reaching a level of 2,71 billion Euros. The direct consequence of the higher performance compared to the market was the increase of UniCredit Tiriac Bank market share in this segment to 30%.
"We believe our performance to be even more important, given the economic context, namely the 10% increase of the number of companies which became insolvent, the attempts of fraud which also increased, as well as the legislative changes, the UniCredit Tiriac Bank risk policy continued to be prudent and of risk dissipation. We have focused on securing documentary transactions, on the maintenance of those providers with a proper discipline in business administration and with a varied client portfolio, so that, even though the client portfolio was reduced to approximately 300, the volume of claims and of trade relations (over 1000) have remained at the same level, with a slight tendency of increasing", has explained Alecsandra Valasuteanu, Head of Factoring UniCredit Tiriac Bank.
The bank’s factoring services continued to be available for companies of any size and regardless of the industry. A special attention was also given last year to the companies with a turnover of less than 5 million Euros, the factoring volumes achieved by them with UniCredit Tiriac Bank increasing by 21% in 2013.
The industry with the largest share - 31,22% of managed claims - continued to be in 2013 the industry of constructions, followed by auto & equipment (13,92%), agriculture & food industry (12,57%) and transport (10,16%).
A premiere on the Romanian financial market, the first factoring syndication, from which Sensiblu benefited, part of A&D Pharma group, worth 100 million Euros, coordinated by UniCredit Tiriac Bank, contributed to the increase of the pharmaceutical industry to the factoring turnover.
The bank continued to support trade flows and domestic investment projects, representing 69,82% of the total managed claims, however remaining just as active in the support of international transactions. As a confirmation of the full member of Factors Chains International (FCI) status, acquired in 2012, the members of the factoring team were selected last year in order to be part of the Committee of Communication and of FCI Ambassadors Group, and the factoring turnover reached 127 million Euros, increasing by 65% compared to 2012.
"In terms of strategy and our expectations for 2014, factoring remains a priority product for UniCredit Tiriac Bank, both in risk management related to the funding the bank will grant companies and related services (collecting, insurance of non-payment risk and claims administration), which we consider to be extremely important for companies in the efficient business administration. What concerns us is the legislation. Law 72/2013, whose purpose is combating late payment from both professionals and especially public institutions, setting the maximum term of payment did not have a significant impact, delays are maintained, penalties are not collected. The Government Ordinance Proposal is likely to have a strong negative impact for amending and completing Government Emergency Ordinance no. 84/2003 for the establishment of the National Company of Motorways and National Roads in Romania - S.A. (C.N.A.D.N.R.), proposal which has been sent by the Government and Parliament Committees Senate in order to be analyzed, the Senate already adopting it. Through the two main elements which have been introduced, namely general entrepreneur’s obligation to mortgage his claims towards C.N.A.D.N.R. in favor of subcontractors and the obligation to pay its subcontractors throughout cashing from C.N.A.D.N.R., the new law is likely to significantly limit funding opportunities based on claims of both the entrepreneurs and the subcontractors. Considering the fact that the construction area represents the most important segment supported by the factoring industry (35% in the market), we can also expect a decrease of the factoring market in 2014" concluded Alecsandra Valasuteanu, Head of Factoring UniCredit Tiriac Bank.
About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of UniCredit Group, leading European bank. In Romania, UniCredit Tiriac Bank is one of the leading financial institutions, offering high quality products and services for the approximately 600,000 active customers through 188 branches. The bank aims to maintain a client centricity policy, to be an easy to deal with partner and also to be an active part of the communities in which it operates.
UniCredit Group is also present in Romania through its partners: UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).
UniCredit Tiriac Bank joins Earth Hour
28.03.2014
More than 70 Group buildings in Europe will turn off lights on Saturday, 29 March
UniCredit Tiriac Bank will turn off the lights in 1F Exposition Boulevard headquarters in Bucharest on Saturday, March 29, between 20:30 and 21:30, during Earth Hour. UniCredit Leasing Corporation and UniCredit Consumer Financing, located on Str. Ghetarilor, Nr. 23-25, Sector 1, will also join this initiative.
The Romanian bank participates together with many other entities of UniCredit Group, which turn off the lights in over 70 buildings in Europe for Earth Hour. UniCredit takes part for the seventh consecutive year in this global campaign in order to raise awareness of climate change.
UniCredit’s continued support for the campaign, which is organized by the WWF, emphasizes the Group’s steady efforts to address conservation of the environment and support sustainable development. As part of these efforts, UniCredit aims to reduce its carbon emissions by 30% by 2020.
This year, the lights in UniCredit’s most prominent buildings will be turned off for one hour in 10 countries: Italy, Austria, Bosnia and Herzegovina, Bulgaria, the Czech Republic, Hungary, Romania, Russia, Ukraine and Serbia. This gesture is intended to increase awareness of the human contribution to global climate change and to encourage people to make a more consistent daily effort to conserve natural resources for future generations.
As part of the 2014 activities, the new UniCredit Tower will also join Earth Hour. The bank’s new headquarters in Milan is the tallest building in Italy and has received numerous certificates and awards for the attention it has been given to energy efficiency in the way it was designed and built.
Net consolidated profit of UniCredit Tiriac Bank reached eur 19.8 million in 2013
11.03.2014
- In 2013, continued to have a growth strategy in Romania, with a profitability above the banking system, solid liquidity, comfortable solvency ratio and an improvement in efficiency
- Consolidated net operational profit reached RON 766 million, with revenues increasing significantly to RON 1.5 billion. Impairment losses with loans reached RON 744 million, which determined a net consolidated profit of RON 87.7 million. On stand alone, UniCredit Tiriac Bank posted a net profit of RON 75.1 million.
- The loan portfolio reached approx RON 18.8 million, sustained by growth in SME and private individuals
- Results represent the consolidated report for UniCredit Tiriac Bank and UniCredit Consumer Financing
UniCredit Tiriac Bank's net consolidated profit was RON 87.7 million (EUR 19.8 million) in 2013, indicating a good financial evolution.
Operational revenues were RON 1.5 billion (EUR 337.8 million) at the end of 2013. Operational expenditures were RON 727 (EUR 164.5 million) and operational profit at RON 765.5 million (EUR 173.2 million). Loan impairment stood at RON 744 million (EUR 168.3 million).
Financial indicators reveal a balanced position, above the system average: ROE is at 3.1%, while ROA was 0.3%. The constant concern for an efficient cost control is reflected by the cost to income ratio of 48.7% in December 2013. Cost of risk in 2013 stood at 4.4%, while the non-performing loans were 11,08%. Provision coverage is at 10.15%, covering potential and calculable risks.
Assets were at a total of RON 28.5 billion (EUR6.4 billion) and loan portfolio reached RON 18.8 billion (RON 21 billion including externalized loans), supported by the increase of 10.6% in SME loans, 18.4% in mortgage and 3% in mid-market companies.
Customer deposits reached a total volume of RON 15.1 billion and the evolution was supported by 13.8 % volume growth in the SME in the last year , respectively 18.5 % for medium-sized companies and 36.7 % for individuals in the same interval. The volume of external financing attracted from the Group and the International Financial Institutions increased by about 9% in 2013, to EUR 1.9 billion.
The ratio between loans and deposits stood at 124%, with a comfortable level of liquidity.
UniCredit Tiriac Bank ended 2013 with a constant number of branches (188), while the total number of employees and UniCredit Consumer Financing reached 3,169. Optimal profitability per branch and organizational efficiency continued to be priorities.
In early January 2013, the Bank acquired a majority stake of UniCredit Consumer Financing, while keeping the 20% package of UniCredit Leasing Corporation.
Reorganization project of the leasing activity at the local level, which was planned to transfer control of the majority of leasing entities in Romania from Holding to UniCredit Tiriac Bank, was approved in early 2014. The entities controlled either directly or indirectly are to be included consolidated in 2014.
"The year 2013 was full of notable events for UniCredit Tiriac Bank, like the issuance of bonds and the acquisition and successful completion of the RBS transfer. UniCredit kept a strategy of sustainable growth in all main segments of activity. Regarding the economic environment in Romania, we expect slower GDP growth in 2014 compared to 2013, with the lending activity still limited and profitability of the banking system still under pressure. Despite the challenging economic circumstances for the banking system, UniCredit Tiriac Bank remains committed to the market in Romania and to a strategy of development, "said Rasvan Radu, CEO of UniCredit Tiriac Bank.
On a standalone basis, UniCredit Tiriac Bank posted total operating income of RON 1.384 billion (EUR 313.2 million), up 10.8% from last year. Operating expenses increased by 8.7 % to RON 689.1 million (EUR 155.9 million) and operating profit stood at RON 694.7 million (EUR 157.2 million), up 13% from the previous year. Net profit reached RON 75.1 million, decreasing compared to 2012. Cost to income improved , decreasing by about one percentage point to 49.8%, significantly below the estimated value of the indicator for the banking system of 56.7%.
Total assets of the bank were RON 27.5 billion (EUR 6.1 billion), up 9.6% compared to December 2012 and better than the decrease of about 1% of the banking system. The volume of loans reached RON 17.6 billion (EUR 3.9 billion), slightly up by 1.8 % compared to the end of last year and compared to a decrease of approximately 3.3 % for the banking system. Customer deposits amounted to RON 15.2 billion (EUR 3.4 billion) up 10% compared to last year and better than the increase of 9.3 % for the banking system. L/D had a favorable evolution, dropping 9 percentage points to 116% from 125% last year. Solvency ratio stood at 13.3 % at the end of 2013, not including profit of the interval, providing a solid foundation for the transition to Basel III standards.
UniCredit Tiriac Bank supports the project light for children from Inelet
13.02.2014
UniCredit Tiriac Bank supports the project initiated by the Free Miorita Association, Light for Inelet Children, being the first company that decided to financially support the project. After only three days from announcing the project online, on blogs and on Facebook, UniCredit Tiriac Bank has joined the cause with a grant of EUR 3,000 which covers the full cost of solar panels and ancillary systems, including computers and printer necessary for the educational process. Moreover, staff within the company will be invited to participate as volunteers for installing the solar panels.
"We’ve decided to get involved in this initiative together with the Free Miorita Association friends because we believe that small gestures can lead to vital changes to some communities that rarely get noticed. Actually we would like this to be just the beginning in 2014 for a series of projects that would change the lives for the better in Romanian communities", said Anca Nuta, Identity & Communications Director, UniCredit Tiriac Bank.
"About a year ago we started the project Light for Ursici with the desire of helping a few people who are dear to me. I didn’t think then that Ursici would be the first settlement in Romania whose homes are lit by solar panels. I didn’t think that so many people would join us. But I knew that more light is needed in other communities as well, so I restarted the engines. I knew about the children form Inelet but Ionut Vlad from Trasee marcate, an online community of mountain lovers, was the catalyst of this project. What do we really what? To give these children a chance at normalcy. So that they will be able to read a book when it’s cloudy outside. To be able to write at the light of a bulb. To be able to learn how to use a computer. To be able to know the country and the world differently than from the books. I hope these things, once fulfilled, will make them want to stay in Romania. Maybe they’ll leave, as others have done it, or perhaps they will stay, even in Inelet. Anyway, we must try. And UniCredit Tiriac Bank stands by us once more and we thank it because we’ll change for the better the lives of these children", said Iulian Angheluta, President of Free Miorita Association.
Inelet is a village of Cerna Mountains. The houses are scattered and none of them has electricity. Moreover, the school is not connected to the electricity grid and the three children from Inelet, Luminita, Ionela and Nicu, have to walk daily for 2 hours to get to school. We want to help and give these children a chance at education and a better future. Light for Inelet children project consists in equipping the school with solar panels to provide light and power necessary for the 2 rooms and purchase desktop computers and a printer.
Anyone can support this project and the actions of Free Miorita Association by donating 2% (Forms 200 and 230) in the bank account RO71BACX0000000942462000 open at UniCredit Tirac Bank, Rosetti Bucharest Branch. Fiscal Registration Code 29953226.
Free Miorita is a non-governmental resistance movement and action against Mioritic fatalism. “Dacioti pana-n Mongolia” and “Light for Ursici” are two of the most important projects in progress.
Euromoney awarded UniCredit Tiriac Private Banking for the best services in Romania
10.02.2014
10 February 2014 - UniCredit Tiriac Bank was appointed the financial institution with the best Private Banking services in Romania in the Euromoney Private Banking and Wealth Management Survey 2014
"Our investment approach is based on a disciplined aligned regionally process, which starts from understanding the financial objectives and risk tolerance of our clients in order to meet their requirements. Our customers’ opening to the investment solutions offered by us is the result of the education efforts, understanding the importance of financial planning on the medium – long term, the global diversification and based on developing a trusting relationship with the Bank. We are proud to be recognized for the quality of our services and we will continue to deliver the same standards, focusing on documented and transparent framework to help our clients in making optimal investment decisions", said Anca Eremia, CEO of UniCredit Private Banking.
UniCredit Private Banking currently serves over 3,000 clients, with total assets exceeding EUR 500 million. The range of products and services available to the clients is diverse, including classical saving solutions and fixed income instruments, investment funds and structured products.
Another differentiating element in the market is the presence of Global Investment Strategies team.
Through a process of allocation by asset class, customers have the opportunity to diversify their overall holdings in order to optimize their investments and identify products consistent with the objectives and risk profile.
UniCredit Private Banking has received another three awards at the Euromoney survey for different sub-categories, awarded to the divisions of the Czech Republic, Hungary and Italy.
UniCredit Private Banking provides a full range of services and products to over 260,000 customers in 14 European countries, with assets under management of over EUR 150 billion. In light of the experience and affiliation to UniCredit, European top bank, the investment specialists and consultants benefit from the independent perspective on the markets and exclusive products.
Euromoney annual awards for Private Banking are the most prestigious awards in the management of financial assets, being designated based both on figures supplied by the entities analyzed, and the professionals’ vote from this industry. The survey covers over 35 categories of products and services at global and regional levels and nearly 100 countries.
