News

UniCredit Bank Czech Republic and Slovakia reported preliminary consolidated net profit of CZK 4.9 billion for 2014.

The preliminary consolidated business results of UniCredit Bank Czech Republic and Slovakia, a.s. for 2014¹:

Net profit of UniCredit Bank Czech Republic and Slovakia went up by 55% yoy compared to the aggregate results of UniCredit Bank Czech Republic and Slovakia for the same period of the previous year

• Customer deposits increased by 7.3% yoy
• Loans to bank clients grew by 7.7% yoy
• Loans to clients of leasing companies rose by 4.9% yoy
• Total assets grew by 9.5% yoy
• Capital adequacy is at 14.4% (non-audited figure)
• Equity increased by 15.1% compared to the same period of the previous year
• UniCredit Bank was awarded a prestigious award in the field of trade finance by the magazine Global Finance. In the Private Banking Survey 2014,  Euromoney magazine awarded UniCredit Bank for  the excellence of its private banking in the range  of investment products category. UniCredit Bank was also given the prestigious Top Employer 2014 certificate

 The after-tax preliminary consolidated profit of UniCredit Bank Czech Republic and Slovakia increased from CZK 3,170 million (as of 31 December 2013) to CZK 4,911 million (as of 31 December 2014). Mr. Jiří Kunert, CEO and Chairman of the Board of Directors of UniCredit Bank Czech Republic and Slovakia, commented on the results:

 "We have achieved the planned synergy effects of the merger of UniCredit Bank in the Czech Republic and in Slovakia, as well as within the acquisition of the UniCredit Leasing companies. We have strengthened our market position in both markets, introduced new innovations in the product portfolio and, at the same time, improved the quality of provided services. Moreover, business results rose as well, which was significantly reflected in the yoy increase of net profit."

 Items of Profit and Loss Statement

Net interest income of UniCredit Bank Czech Republic and Slovakia increased to CZK 10,049 million, representing an increase of 41.5% compared to the same period of the previous year (as of 31 December 2013: CZK 7,100 million). Net income from fees and commissions grew by 25.4% yoy to CZK 3,557 million (as of 31 December 2013: CZK 2,836 million).

 The level of general administrative expenses increased by 22.3% to CZK 7,170 million (as of 31 December 2013: CZK 5,865 million). The credit risk cost was CZK 2,236 million (as of 31 December 2013: CZK 2,129 million).

 "The 2014 preliminary consolidated results are indeed excellent; we grew revenues thanks to the constantly increasing customer base and business as well as optimizing our banking group’s funding costs. We keep having a cautious approach on our cost base and maintain a conservative risk approach which is both reflected positively in our numbers.The consolidated capital adequacy of UniCredit Bank is still high - exceeding 14% even despite the acquisition of the purely credit business of UniCredit Leasing," adds Mr. Gregor Hofstaetter-Pobst, CFO of UniCredit Bank.

 Balance Sheet

 In the lending segment, loans granted to clients went up mainly thanks to a 14% yoy increase in consumer and mortgage loans. Following the introduction of the revolutionary U Account, with a ten-year guarantee of conditions and free withdrawals from any ATM at home and abroad, the number of acquisitions of new clients in the retail segment has more than doubled. In the corporate segment, focus was still on structured financing, with UniCredit Bank participating in most of the major transactions in the Czech Republic and Slovakia in 2014. UniCredit Bank also reported significant growth in the financing of small and medium-sized enterprises, achieving  a 25% yoy growth in this segment. The leasing companies continued to strengthen our brand vehicle financing, credit financing in the area of corporate loans, and operating leasing for businesses and private individuals.

 As of 31 December 2014, assets of UniCredit Bank Czech Republic and Slovakia amounted to CZK 508,616 million, representing a 9.5% increase compared to the figure as of 31 December 2013 (CZK 464,622 million).  

 On the assets side of the Balance Sheet, receivables from bank clients increased by 7.7% to a total of CZK 312,133 million compared to the volume as of 31 December 2013 (CZK 289,945 million).

 On the liabilities side, liabilities towards clients grew by 7.3% to CZK 328,585 million (31 December 2013: CZK 306,298 million). Liabilities from debt securities rose by 9.9 % to CZK 47,285 million (31 December 2013: CZK 43,041 million).

 Equity grew by 15.1 % to CZK 58,410 million (as of 31 December 2013: CZK 50,747 million).