Romania: UniCredit Tiriac Bank’s Profits Exceeding Expectations

People ♦ Published: November 13, 2013; 11:56 ♦ (Vindobona)

On an annual comparison basis, Unicredit Tiriac Bank posted an increase of profits of 48 percent to € 48.5m since the beginning of this year exceeding all expectations.

Romania: UniCredit Tirac Bank’s Profits Exceeding Expectations / Picture: © UniCredit Tiriac Bank

Consolidated profits after minority interests come at € 46.8m. The high increase in profits, however, originates by dynamics that are expected to slow down next year, as explained by Rasvan Radu, CEO of UniCredit Tiriac Bank.

“Although the Romanian economy is growing in 2013, exceeding the estimated rate of other CEE states, the growth is fueled by temporary factors, whose…