OREANDA-NEWS. UniCredit Group net profit reaches €1.7 bn in 2015 and above €2.2 bn excluding cа. €540 m of net non-recurring items mainly related to Strategic Plan restructuring charges, agreement for the disposal of Ukrsotsbank, extraordinary contributions to new systemic charges in Italy and Poland and higher LLP for CHF loan conversion in Croatia.

"Organic capital generation is confirmed with an increase of over 90 bps in 2015 which further strengthens our capital ratios. CET1 fully loaded pro-forma is close to 11%, already above our current regulatory requirements for 2018. UniCredit recorded a net profit above €2.2 bn during 2015, before non-recurring items to implement our Strategic Plan and extraordinary contributions to the rescue of four Italian banks. This is a remarkable result considering the challenging macroeconomic environment in Europe, in particular in the banking sector. The implementation of our Plan is well on track. In recent months, we finalized some important agreements in Austria and Ukraine; at the same time, we are strongly committed to cost reduction. Asset quality is constantly improving, impaired and bad loans are firmly under control with high coverage ratios," – said Federico Ghizzoni, CEO of UniCredit.

Strategic Plan achievements in the first 3 months of implementation:

? the retail and corporate banking franchise is strongly performing with over 32 m clients in 2015 (+1 m FY/FY) and growing market shares in most countries;

? cost reduction is a key pillar of the Strategic Plan. FTE decreases by 3.5k in FY15, while branches shrink by 582 units;

? group streamlining is on track thanks to the agreement for the disposal of Ukrsotsbank and the transfer of CEE subsidiaries progressing well;

? CEE division’s results – two clients out of three choose UniCredit as banking partner in CEE;

? digital transformation – UniCredit has committed €200 m to invest in fintech start-ups; 

? asset quality continues to improve thanks to a capital generation of 92 bps in 2015.

UniCredit Bank is one of the largest universal banks in Ukraine, offering a full range of top quality financial services for individuals and corporate clients.

The renovated UniCredit Bank was created in December 2013 through integration of two Ukrainian assets of UniCredit Group, which had been operating in the local market since 1997. The integrated bank combined power, solidity and wide coverage of PJSC "Ukrsotsbank" with the European expertise, quality of service and flexibility of PJSC "UniCredit Bank".

The extensive retail network of UniCredit Bank consists of 243 branches nationwide, its headcount reaching over 5,500 employees, all of them top qualified specialists.

UniCredit is a leading European commercial bank with an international network spanning over 50 markets and 17 countries, with more than 8,400 branches and over 146,000 employees.

Financial indicators of UniCredit Bank as of 01.10.2015:

  • assets — UAH 43.080 billion;
  • credit portfolio — UAH 28.99 billion;
  • funds of corporate clients — UAH 14.56 billion;
  • funds of retail clients — UAH 14.3 billion;
  • capital — UAH 8.22 billion.