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UniCredit group preliminary net profit in FY14 amounts to EUR 2 bn

11.02.2015

UniCredit group net profit as of the end of 2014 amounts to EUR 2 bn according to preliminary results without audit. It is stated by the group’s press office.

“In 2014, despite the extremely difficult economic context, we maintained our commitment to deliver a net profit of €2 bn. We have successfully completed the turnaround in Italy and we have been supporting the economies in all countries where the Group is present,- UniCredit CEO Federico Ghizzoni said.- We considerably increased our lending to households and managed savings as well as supporting our corporate clients and their expansion in international markets. We are one of the most solid European commercial banks and the ongoing progress of our Strategic Plan is bearing its fruits. We confirm our strategic guidelines in a macroeconomic environment which is showing some first positive signs on the wave of the announcement of ECB actions”.

UniCredit group profit in 4Q 2014 amounted to EUR 170.4 mln.

Its revenues in 2014 constitute EUR 22,5 bn, while the total costs are EUR 13.8 bn with a cost to income ratio of 61,5%. The group’s total assets form EUR 844.2 bn.

 

NOTE

Ukrsotsbank is one of the largest universal banks of Ukraine, operating in the local market since 1990. The bank offers full range of services to individuals and corporate clients.

The renovated Ukrsotsbank emerged on 31 October 2016 as a result of strategic deal whereby 99.9% of Ukrsotsbank shares have been transferred from UniCredit Group to ABH Holdings S.A. (АВНН) in exchange for a minority 9.9% stake in ABHH. Thus, the bank has combined 26-year-old traditions of Ukrsotsbank’s client-centric attitude, European quality of service inherent to UniCredit, as well as international banking expertise of ABHH in a number of European countries including CIS. Thanks to the successful synthesis and synergy of the two assets of ABHH in Ukraine, Ukrsotsbank and Alfa-Bank, the banking market of Ukraine will see the rise of a new stronger financial institution. This, in turn, will spur up technological advance, increase efficiency, improve quality of service for the clients, reduce cost of banking services whereas their range will inevitably expand.

The extensive retail network of Ukrsotsbank consists of 237 branches, its headcount reaching nearly 5 thousand employees.


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