Italian group UniCredit, which controls the fifth largest bank in the local market, reported a consolidated profit of EUR 21 million from its operations in Romania in the first quarter of the year.

The profit went up by 16% compared to the same period last year, according to data the group published yesterday.

The lender’s profitability increased due to growth in the stock of loans and the operating income. The loan book rose by over 8% year-on-year to EUR 5.4 billion. Meanwhile the operating income grew by 6% to EUR 92 million, supported exclusively by fees and trading transactions.

The interest income was constant, amounting to EUR 51 million. The fees related to granted financing brought net revenues of EUR 21 million, up EUR 4 million over March last year.

The trading income totaled EUR 20 million, up EUR 2 million over the first quarter of 2016.

editor@romania-insider.com