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UniCredit crowned Best in Europe by Euromoney Trade Finance Survey 2017

UniCredit has been named “Best Trade Finance Provider” in both Central and Eastern Europe (CEE) and in Western Europe by the Euromoney Trade Finance Survey 2017.


The survey, which received more than 4,000 responses from businesses using trade finance, recognised UniCredit’s excellence in trade finance services. The bank’s credentials in trade finance are founded on its deep product expertise and its unparalleled market knowledge in its core European markets, which is supplemented by comprehensive coverage through an extensive international network of branches, representative offices and 4,000 correspondent banks.


UniCredit has made significant investments in the trade finance sector by developing innovative platforms for trade finance, supply chain finance and BPO execution. The bank is part of a number of collaborative blockchain initiatives, including the R3 bank consortium, and has developed proofs of concept for two blockchain-based trade finance solutions.
Trade finance is a pillar of UniCredit’s multi-year plan and strategic to its mission as a simple pan-European bank delivering a unique western, central and eastern European network to its extensive client franchise with a fully plugged in Corporate & Investment Banking Division.


Claudio Camozzo and Jan Kupfer, Global Co-Heads of Global Transaction Banking (GTB) at UniCredit, said: “We are delighted to have been named Best Trade Finance Provider in both Central and Eastern Europe and in Western Europe by the Euromoney Trade Finance Survey 2017. This award stands as testament to our innovation in trade finance and our ability to connect clients around the world with a comprehensive product suite which serves clients ranging from small caps to large international corporates.”


The bank also swept the board in the European country awards being named “Best Domestic Trade Finance Provider” in Bosnia and Herzegovina, Bulgaria, Croatia, Hungary, Poland, Romania, Serbia and Turkey.


Paolo Spada, Central and Eastern Europe GTB Head at UniCredit, stated “It is an honour to have received the award for Best Trade Finance Provider in Central and Eastern Europe for the fourth consecutive year. We are proud of our unrivalled presence across different countries. Our leading regional presence, combined with our best-in-class technology and product expertise, puts us in an excellent position to provide our clients with the very highest level of service.”


About UniCredit

UniCredit is a leading European commercial bank operating in 17 countries, with over 143,000 employees, over 7,500 branches and an international network that spans 50 markets. Our strategic position in Western and Central and Eastern Europe enables us to command one of highest market shares in the region.

While our brand is recognisable all over Europe, we have preserved the highly valuable local brands of banks that we acquired to form our Group.

Milan, 17 January 2017


Contacts:

Media Relations Tel. +39 02 88623569; e-mail: MediaRelations@unicredit.eu

UniCredit completes first ever Romanian BPO

UniCredit has successfully completed the first BPO (Bank Payment Obligation) transaction ever carried out in Romania, for the payment of a commercial operation between Romanian firm Adiss SE, one of the leading companies in processing urban and industrial wastewater in Romania and its supplier, German company Huber SE, major manufacturer for industrial facilities to treat water, wastewater and sludge.

We are very proud to have completed the first ever BPO in Romania as it underlines once again our leadership in digitalization in transaction banking. With the BPO, we can offer our corporate customers a solution, which combines automated processing of flows with careful cost management, prompt payments and financial options for the seller. We are a frontrunner in this segment as we were also the first bank processing the BPO in Germany and Italy, and we are now getting ready for more markets”, says Gianfranco Bisagni, Deputy Head of Corporate & Investment Banking (CIB) at UniCredit.

This BPO is the first ever completed by a UniCredit bank in Central and Eastern Europe (CEE). It marks an important milestone for UniCredit as we look to spread the availability of secure and efficient trade settlement throughout the CEE region and beyond”, said Enrico Minniti, Head of Central & Eastern Europe Corporate & Investment Banking (CEE CIB) at UniCredit. “The BPO’s inaugural use in Romania demonstrates the increasing recognition by banks and corporates of the significant benefits provided by the BPO. Moreover, UniCredit has also become the first BPO-ready bank in Bulgaria”.

This is the latest in a number of landmark BPO deals in recent years. In October 2014, UniCredit was the first bank to complete the first BPO transaction ever in Germany, between a German and Japanese company. The transaction allowed RVT Rühr-und Verfahrenstechnik to increase sales volumes by selling insured receivables to UniCredit and providing Mitsui & Co Plant Systems with more attractive payment terms.

More recently, in February 2015, UniCredit successfully completed the first BPO transaction ever carried out in Italy between SPIG S.p.A., a leading producer of industrial cooling systems, and one of its German suppliers.
Some weeks ago Global Finance magazine named UniCredit “Innovator in trade finance 2016” for its fully digitalized BPO execution platform.

Notes to editors

What is the BPO?

The BPO is an irrevocable and autonomous undertaking by a bank, generally an importer's main bank, to pay on demand or on maturity a certain amount to the exporter's bank following successful electronic checks on a series of data previously agreed by the parties.

The documentation relating to the operation (invoices, transport documents, certificates, etc.) is exchanged separately by the commercial parties, delegating to the banks the automated and direct management of the electronic data flow through the Trade Service Utility (TSU) platform developed by SWIFT (the main financial messaging communication network).

Having as its prerequisite the existence of a relationship of commercial trust between buyer and seller, the BPO lies in between documentary credit and open accounts (bank transfers), combining some advantages of both: of the former, for example, the reduction of the risk of non-payment; of the latter, the simplicity and speed of execution. The exporter company can also expand its exposure to buyers that issue BPOs and obtain easier access to financing or disposal of the underlying receivable; the importer company can instead negotiate longer payment terms, thus optimising its cash flows.

UniCredit

UniCredit is one of the largest financial institutions in Europe, with an international network spread across 50 countries, 16 of which have a commercial bank present in the country. The Group, which has assets of more than 850 billion euro, works through more than 8,600 branches and approximately 149,000 employees, serving more than 40 million customers. In Central and Eastern Europe, UniCredit is the undisputed market leader, with almost 3,500 branches and assets of approximately 146 billion euro.
UniCredit operates in the following countries: Austria, Azerbaijan, Bosnia Herzegovina, Bulgaria, Croatia, the Czech Republic, Germany, Hungary, Italy, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey.

For more information:

UniCredit Bank, Departamentul Identitate si ComunicareIoana Ursu, ioana.ursu@unicredit.ro / 0723.653.072 www.unicredit.ro

Notice regarding the payment of interest coupon no 6 related to bonds issued by UniCredit Bank S.A.

UniCredit Bank SA inform the public about the payment of interest coupon no 6 related to issued bonds UCT18 in accordance of Issue Prospectus approved by Financial Supervisory Authority Decision No. A/110/13.06.2013.

The payment will be made by UniCredit Bank S.A. – the payment agent – on 15th June 2016 to the bond holders of UniCredit Bank bonds recorded in the Register of Bond Holders kept by Depozitarul Central S.A. at the reference date 25.05.2016.

The interest coupon is calculated in accordance with the provisions of paragraph 7 Interest of the Issue Prospectus. The payment will be made to the banking accounts of the bond holders of UCT18 bonds as specified in the Register of Bond Holders kept by Depozitarul Central S.A..

Example for interest calculation:

Bond Nominal Value: 10,000 RON
Interest accordance with Issue Prospectus: 6.35%
Interest calculation period: 15-Dec-2015 - 15-Jun-2016 (183 days)
Interest Coupon as of 15.06.2016: 10,000 RON x 6.35% x 183 days / 366 days = 317.50 RON

Identity & Communication Department:

Issueing Entity Name: UNICREDIT BANK S.A.
Head Office Address: Blvd. Expozitiei nr. 1F, Bucuresti, 012101
Sole Fiscal Code: RO361536
Trade Register Registration Number: J40/7706/1991
Sharecapital Subscribed and Paid: 379.075.291,20 RON

UniCredit Leasing appoints a new Chief Executive Officer starting May

Mircea Cotiga, the current Risk Management Director for Recovery & Fraud Prevention at UniCredit Bank will be appointed Chief Executive Officer (CEO) at UniCredit Leasing, after Antoaneta Curteanu, currently CEO of the company, has accepted an international challenge, thus being promoted as Director for Corporate Investment Banking at UniCredit Bulbank Bulgaria. These changes will become effective starting May, and Antoaneta Curteanu will exercise her new responsibilities after finishing the authorization process with the National Bank of Bulgaria.

Mircea Cotigă is presently Risk Management Director for Recovery & Fraud Prevention at UniCredit Bank and is one of the most experienced professionals in his field, having extensive business and financial – banking knowledge.

I am looking forward with tremendous joy and confidence to this new stage in my carrer, a natural step for me after the enriching experience that I had at UniCredit Bank. My whole experience with the bank, in the restructuring activity that I coordinated, was marked by a pro-client and pro-business attitude, always trying to be there for our clients and to offer them the best solutions. I really want the same approach to influence my future activity, on the new position that I am about to take over. I am also glad to be joining a team that has managed to make UniCredit Leasing the undisputed leader of the leasing market, which significantly contributes to bringing performance in the financial solutions we offer to our clients”, said Mircea Cotigă, Risk Management Director for Recovery & Fraud Prevention at UniCredit Bank.

With a rich managerial experience and entrepreneurial spirit, Mircea Cotigă has been working in the banking system for 11 years, including seven years at UniCredit Bank. During this period he has achieved results above expectations in completing major projects and transactions with his teams. Before this, he worked in legal and rebounds for leasing and credit management companies. He holds an MBA in Financial Management from City University USA - Romanian Banking Institute (2005-2007).

I am heading towards a new professional challenge - an important step in the transition from a market leader in Romania, UniCredit Leasing to another market leader in Bulgaria, UniCredit Bulbank. I will use my entire energy, work capacity, creativity and previous experience in order to benefit from this change. Now, I am leaving behind a team with which I have experienced great achievements, the family where I have lived the most beautiful moments of my life, the family that I will never stop being part of. Also, I am truly confident that I will be able to bring a full professional experience in Bulgaria and will always say with pride that I come from UniCredit leasing”, said Antoaneta Curteanu, CEO UniCredit Leasing.

With more than 18 years of experience at UniCredit and 25 years in the banking system, Antoaneta Curteanu holds the position of CEO at UniCredit Leasing since July 2010. In 2007-2010 she was Deputy Director for the Corporate Division and Global Transaction Banking at UniCredit Banks, and between 2005-2007, she was the Executive Vice President and Member of the Board of UniCredit Romania.

Antoaneta Curteanu graduated from the Faculty of Finance and Accounting from the Academy of Economic Studies, Bucharest (1986-1991) and the Graduate School of Banking in Lousiana State University, USA (1994-1996). Antoaneta Curteanu is the founding member of the Business Women Network Association in Romania and author of the book "Factoring in international trade".

UniCredit Leasing is the Romanian leasing market leader with a constant share of 18% in terms of assets over the past five years. UniCredit Leasing provides financing services through leasing and credit financing, operational leasing and insurance brokerage from UniCredit Leasing Corporation IFN, UniCredit Leasing Fleet Management and UniCredit Insurance Broker.

****

About UniCredit Bank

UniCredit Bank is part of UniCredit Group, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Bank is a true "one-stop-shop" for financial services, serving more than 600 thousand customers. The Group is present in Romania through: UniCredit Bank, UniCredit Consumer Financing, UniCredit Leasing Corporation, UniCredit Insurance Broker, UniCredit Leasing Fleet Management, UCTAM, Pioneer Asset Management, and UniCredit Business Integrated Solutions.

For more information, please contact:

UniCredit Bank:

Ioana Ursu

ioana.ursu@unicredit.ro / 0723.653.072

UniCredit Leasing:

Laura Dinculescu / 0730.888.799

UniCredit Wins Sixteen Euromoney Awards in Private Banking

UniCredit Private Banking has again been recognized for its excellent services, winning 16 awards in different regional and local categories in Euromoney magazine´s Private Banking Survey 2016:

·         Central and Eastern Europe     

o   Best Private Banking Services Overall

o   Net-Worth-Specific Services (sub-category: Super affluent clients USD 1 million to USD 5 million)

o   Commercial Banking Capabilities

·         Austria                                         

o   Net-Worth-Specific Services (sub-category: Super affluent clients USD 1 million to USD 5 million)

·         Croatia                                        

o   Best Private Banking Services Overall

o   Investment Banking Capabilities

o   Commercial Banking Capabilities

·         Czech Republic                           

o   Philanthropic Advice

o   Innovative Technology – Client Experience

o   Innovative Technology – Back Office Systems

·         Italy

o   Commercial Banking Capabilities

o   Succession Planning Advice and Trusts

o   Innovative Technology – Client Experience

o   Innovative Technology – Back Office Systems

·         Slovakia                                       

o   International Clients

·         Turkey                                         

o   Philanthropic Advice

The Euromoney Private Banking Survey is published annually and provides a qualitative as well as quantitative assessment of the best services in private banking, by geography and area of service. The survey is considered as one of the most prestigious in the wealth management industry, since it combines analysis of bank-provided data and peer review. It covers more than 15 different product and client categories on a regional and local basis, and ranks results in 69 countries. Close to 600 institutions from 90 countries took part in the Euromoney Private Banking Survey 2016 with 2,616 responses.

Jan Tronicek, Head of Private Banking for Central and Eastern Europe (CEE) at UniCredit, said: “Our focus recently is on empowering our clients to gain greater control over their portfolios and to have real-time access to investment information through digital tools. We believe this will enhance client experience and strengthen the loyalty. For this reason we keep investing in both technology as well as competencies of our private bankers, which we consider the key for future success. These awards prove our continuous efforts to be a leader in our business and our dedication to clients.”

UniCredit Private Banking in CEE provides a full range of products and services to more than 24,500 clients in 9 countries within the Region, with around EUR 11.2 billion in total financial assets. Due to the expertise, the proximity and the stability of UniCredit as a leading European bank, it can leverage its independent view on the markets as well as best-in-class products. UniCredit Private Banking strives to deliver financial services to clients in a comprehensible way and to address the complexity of markets with clear and transparent strategies to protect

and optimize client wealth, consistent with their needs.

UniCredit

UniCredit is one of  Europe's leading commercial banks with strong roots in 16 European countries. Our network, which is present in roughly 50 markets, includes over 7,800 branches and over 141,000 FTEs (as of September 30, 2015).

In the CEE region, the Group operates a large international banking network with almost 2,100 branches (3,100 including Turkey).

UniCredit operates in the following countries: Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Germany, Italy, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Hungary.

Enquiries:         

International Media Relations           

Tiemon Kiesenhofer, telephone: +43 (0) 50505 56036       

e-mail: tiemon.kiesenhofer@unicreditgroup.at

buddybank – the bank that’s always by your side

Today UniCredit shared its plans to launch buddybank, the Group’s new “molecular” bank exclusively for smartphone users.

The startup’s name encapsulates its ethos: To be a “buddy” always at the customer’s side, ready to help and give good advice. buddybank will offer three traditional financial products – current accounts, credit/debit cards and personal loans – as well as a 24/7 concierge service, accessible via webchat and phone, that can help with everyday tasks such as restaurant reservations, taxi booking and travel planning.

Through its innovative technology, buddybank will be able to identify its customers in just a few seconds, without the pushing of buttons or security questions. Meanwhile, customers will be able to open a buddybank account in just a few minutes, and use it to access instant loans, follow star financiers to make trades, or focus on personal goals.

If a customer, for example, plans to run in the New York City Marathon, he or she concentrate on training by leaving buddybank to set aside money and plan the trip.

As a smartphone-only service, buddybank is unique and easy-to-use. Through its single point of access and partnerships with startups and leading innovators, customers will have access to a full range of financial and lifestyle services, with exceptional security standards.

“buddybank is a cornerstone of UniCredit’s digitization and innovation strategy,” said Angelo D’Alessandro, creator and director of buddybank. “We will launch in Italy and have our headquarters in Milan, but thanks to the ‘molecular’ nature of the bank, which makes it adaptable to the needs of different markets, we are also considering opening in the United States, Europe and Africa.”

Subject to regulatory approval, buddybank will begin operations on January 1, 2017 and will be a wholly-owned subsidiary of UniCredit S.p.A. With an initial investment of €50 million, the startup is targeting 1 million customers in Italy in its five years and is forecast to break even in year three with 300,000 customers.

Milan, February 16, 2016

Contact:

Media Relations

Tel +39 02 88623569

email: mediarelations@unicredit.eu

Investor Relations

Tel +39 02 88624324

email: investorrelations@unicredit.eu

UniCredit Bank reached a RON 269.5 mn consolidated net profit in 2015

The consolidated operational revenues reached a solid level last year, of RON 1.52 bn (EUR 342 mn), in spite of a market context marked by ongoing decreases of interest rates. Operational expenses totalled RON 777.5 mn (EUR 174.9 mn), while the bank continued to carefully monitor its costs. As a result, UniCredit Bank reached a healthy operational profit of RON 743.9 mn (EUR 167 mn) in 2015. The consolidated net profit before minority interest hit RON 269.5 mn (EUR 60.6 mn), as compared to RON 143.8 mn (EUR 32.3 mn) in 2014.

The financial indicators of UniCredit Bank show a balanced position: Return-on-equity (ROE) amounted to 8.3% at the end of 2015, while Return-on-assets (ROA) reached 0.8%. Cost-to-income ratio is 51.1%.

Similar to previous years, the bank payed a close attention to real and potential risks, which consequently reflected in the provisions level. Thus, loan provisions reached RON 406.6 mn (EUR 91.5 mn) at the end of last year. The provision coverage for on-balance sheet loan portfolio was 8.9%, while the annualized cost-of-risk was 186 bp. Non-performing-loans ratio, including unlikeness to pay exposure (EBA definition*) was 14.40%.

The volume of consolidated assets totalled RON 34.6 bn (EUR 7.6 bn) by the 31st of December 2015, a 6.8% increase year on year. Gross loans portfolio (including loans granted by Leasing) amounted to RON 23.9 bn (EUR 5.3 bn). Its positive evolution was mainly supported by a 7.3% increase in the corporate area and a 11.1% increase in leasing. In the same time, customer deposits reached RON 17.9 bn (EUR 3.9 bn).

All the above prove that UniCredit Bank continued to support and finance the Romanian economy, by taking part in several important Corporate transactions, in domains such as oil&gas, telecom, automotive, services, pharma, agribusiness, transportation. In the same time, the bank continued to develop complex products and services for its Corporate clients – such as products and solutions to hedge prices for commodities and raw materials, or the Bank Payment Obligation (an innovative settlement solution, in accordance with the latest trends and technologies in the industry).

In the retail area, the bank has put efforts in simplifying products and processes, in order to meet clients’ needs (through the launch of credit cards with unique benefits, through alternative solutions for savings, or rethinking products directly linked to the current account), and launched modern digital platforms (re-launched Online B@nking and Mobile B@nking).

The projects co-financed with European grants registered a remarkable evolution last year, which was also the last year for implementing the 2007-2013 budgetary exercise: the credit usage balance for the beneficiaries of European funds increased by 75% between the 31st of December 2014 and the 31st of December 2015. Out of the total facilities approved for this segment in 2015, the largest amount was represented by the industrial sector (POSCCE), with approx. 40%, followed by agriculture (PNDR) with 35%.

UniCredit Leasing maintained its leading position in the financial leasing market, with a constant share of 18% over the last five years. The volume of new financing granted in 2015 reached EUR 242.7 mn, while the acquisition value of financed goods amounted to EUR 294.7 mn.

At the same time, UniCredit Consumer Financing continued to consolidate its position in the consumer financing segment, with a yearly increase of 4.5%. By mid-2015, the company started to launch credit cards, and it issued 26,000 by the end of the year. POS financing doubled as compared to 2014.

„Our attention towards client’s needs remained a strategic direction for UniCredit also in 2015, as the bank was permanently seeking for increasing the quality delivered to its clients. According to several surveys we conducted, it is clear that we succeeded in topping the chart of the most appreciated banks in 2015, through our Corporate division, while we ranked amongst the first three banks thanks to our Retail activity – thus we succeeded in increasing our competitive advantage and registering growth as compared to 2014.

At the same time, we continued to develop our activity and registered a positive evolution both in our loan portfolio, where we registered an almost 5% growth of the gross loan portfolio last year, and in attracting resources at local level, customer deposits rising with over 12% in 2015 as compared to the previous year”, said Răsvan Radu, Country Chairman UniCredit Romania and CEO UniCredit Bank.

According to standalone financial reports, UniCredit Bank obtained RON 1.3 bn (EUR 284 mn) in operational revenues last year, down with 3.3% as compared to 2014. In the same time, operational expenses were RON 666.2 mn (EUR 149.9 mn) in 2015, down with 3.8%, while the operational profit was RON 596 mn (EUR 134.1 mn), down with 2.7% versus 2014. The bank’s net profit reached RON 222.1 mn, an approx. 177% increase as compared to 2014. The cost-to-income ratio was 52.8%, a 0.3pp drop versus the previous year.

On a standalone perimeter, UniCredit Bank reached a solvency level of 13.99% by the 31st of December 2015, comfortable with the regulatory requirements. The annualized Cost of risk was 181 bp according to bank’s reports in 2015, while the Non-performing-loans ratio, including unlikeness to pay exposure (EBA definition*) was 14.53%.

The assets totalled RON 30.6 bn (EUR 6.8 bn) by the 31st of December 2015, 6.7% up versus the 31st of December 2014. Loans reached RON 19.7 bn (EUR 4.3 bn) by the 31st of December 2015, 4.1% up versus the end of the previous year. Customer deposits amounted to RON 18.1 bn (EUR 4 bn), 11.5% up as compared to the 31st of December 2014. The loans-to-deposits ratio for the bank stand alone in 2015 was 109%, an improvement versus the previous year.

*****************

Note:

The consolidated Financial Statements as of 2015 are prepared in accordance with International Financial Reporting Standards as endorsed by European Union.

*exposure with significant obligations from loans with overdue more than 90 days, exposures for which legal proceedings were initiated or exposures for which it is considered that, in the absence of the collateral, it is unlikely that the debtor pay their full credit obligations, regardless of whether there are any amounts outstanding or the number of days of delay in payment.

About UniCredit Bank

UniCredit Bank is part of UniCredit Group, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Bank is a true "one-stop-shop" for financial services, serving more than 600 thousand customers. The Group is present in Romania through: UniCredit Bank, UniCredit Consumer Financing, UniCredit Leasing Corporation, UniCredit Insurance Broker, UniCredit Leasing Fleet Management, UCTAM, Pioneer Asset Management, and UniCredit Business Integrated Solutions.

For more information, please contact:

UniCredit Bank, Identity & Communication Department

Ioana Ursu, ioana.ursu@unicredit.ro / 0723.653.072

Announcement Regarding the payment of Coupon no. 5 for the bonds issued by UniCredit Bank S.A.

UniCredit Bank S.A. announces the payment of Coupon no. 5 for UCT18 bonds according to the prospectus approved by the decision no. A/110/06.13.2013 of Financial Supervision Authority.

The payment will be made by UniCredit Bank SA – as a Paying Agent - on 15 December 2015, to the owners of UniCredit Bank bonds registered in the Bondholders Register maintained by the Central Depository S.A. on the reference day of November 23rd, 2015.

The interest will be calculated in accordance with paragraph 7 Interest of the Prospectus. Payment will be made in bank accounts of the UCT18 bondholders as indicated in the Bondholders Register maintained by the Central Depository S.A.

Calculation example:

The nominal value of a bond:        10.000 RON

Interest according to Prospectus:   6.35 %

The period for calculating the interest: 15 -Jun- 2015 to 15-Dec-2015 (183 days)

Coupon Interest on 12/15/2015: 10.000 RON x 6.35 % x 183 days / 365 days = 318.37 RON

Details of bond issuing here.


Communication Department:

Issuing company name: UNICREDIT Bank SA

Headquarters: Exposition Blvd. no. 1F, Bucharest, 012101

Unique Registration Code: RO361536

Code Trade Registry: J40/7706/1991

Capital subscribed and paid: RON 379,075,291.20

UniCredit establishes SME partnership with London Stock Exchange Group

  • Agreement launches UniCredit CEE Lounge within ELITE to accelerate SME growth
  • Creates support network for ambitious SMEs in UniCredit CEE network

UniCredit is pleased to announce that it has signed an agreement with London Stock Exchange Group to be the key banking partner in supporting the development of small and medium enterprises originating from its portfolio of clients in Central and Eastern Europe (CEE) through ELITE, an innovative platform that enables ambitious private companies in Europe to accelerate their growth.

The partnership establishes the ELITE UniCredit CEE Lounge, which provides SMEs with comprehensive services for organizational and management development to help fast track their growth. Launched by London Stock Exchange Group, ELITE provides companies with access to world class executive training and coaching that is supported by leading European business schools, industry experts and entrepreneurs; a working zone supported by a tutorship model and direct contact with  Europe’s financial and advisory community.

The first 14 companies to participate in the UniCredit CEE Lounge will be announced today at the London Stock Exchange headquarters. They have been selected from its CEE network across Bosnia Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Russia, Serbia, Slovakia and Slovenia.

"We are excited to team up with the London Stock Exchange Group to  help high-growth SMEs in Central and Eastern Europe access a full range of educational, training and coaching services that can prepare them for the next stage of their development. The ELITE UniCredit CEE Lounge is specifically designed to prepare companies that can make a difference in tomorrow's world, giving them the timely knowledge they need to make the right investment decisions. UniCredit strongly believes in the potential of excellent mid-sized companies in CEE, and by supporting their growth, UniCredit aims to strengthen its role as a trusted partner of these enterprises, providing innovative services helping them to grow rapidly. ELITE UniCredit CEE Lounge is a clear step in that direction,” said Carlo Vivaldi, Head of CEE Division and Deputy CEO of UniCredit Bank Austria.

The ELITE environment helps make fast growing companies more aware of the various funding options available to them while improving their “readiness” to face investors. It also brings growing businesses together, giving them the opportunity to inspire each other, exchange ideas, share best practises and identify mutual business opportunities.

“We are delighted to be partnering with UniCredit today, who join ELITE as its main banking partner in the CEE region. The partnership with UniCredit creates a dedicated “ELITE UniCredit CEE Lounge,” that aims to select the most promising SMEs in the CEE region to join ELITE and accelerate their growth. We are sure that UniCredit, with its established presence and strong  relationships  with the best  SMEs  in the CEE  Region,  will make      a


significant contribution to the development of ELITE in the area,” said Raffaele Jerusalmi, CEO Borsa Italiana and Director of Capital Markets,  London Stock Exchange Group.

Since its launch in 2012, ELITE has supported over 320 companies from across Europe and now has 150 advisors and 90 investors in its growing community.

By creating the ELITE UniCredit CEE Lounge, the Group aims to facilitate access for its clients to valuable training and exposure-related activities and create closer relationships with Europe’s best mid-sized companies, helping them through crucial strategic decisions and supporting them in their growth journeys.

UniCredit clients in CEE are expected to receive the greatest value from this initiative. ELITE services will be designed for each SME selected for the UniCredit CEE Lounge, with the Group contributing to training modules and tutoring, as well as providing access to its own tailored support services.

Milano, December 10, 2015


Enquiries

Media relations

Tel +39 02 88623569

e mail: mediarelations@unicredit.eu

Starting August 18th 2015 the new name of UniCredit Tiriac Bank is UniCredit Bank

Starting August 18th 2015 UniCredit Tiriac Bank changes its name to UniCredit Bank. In the coming months the rebranding process will continue with the change of the visual identity of the bank (name and logo) used in contracts and commercial communication with customers, partners, authorities, with the change of the signage throughout the network of branches, and also with the replacement of the payment instruments (cards, tokens) that have the old name. 


The changes that will occur along the rebranding process do not affect the features and functionalities of the products and do not impact the contractual relations with customers. The replacing of the current payment instruments with those with the new name will be performed gradually, without additional cost for the customers. 


The Bank will also run an external communication campaign to support the implementation of the new name - UniCredit Bank.


The rebranding process comes as a result of the transactions that took place in June this year, when UniCredit Bank Austria AG bought the 45% package of shares of UniCredit Tiriac Bank SA previously owned by Tiriac Holdings Ltd, increasing its capital in UniCredit Tiriac Bank SA from 50.6% to 95.6%. Thus, the Group reiterated its interest in the Romanian market, taking advantage of the opportunity to consolidate and expand its position. 


Nationally, UniCredit Bank is present through a network of over 180 territorial units and a team of approximately 3,350 employees.



About UniCredit Bank

UniCredit Bank is part of UniCredit Group, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Bank is a true "one-stop-shop" for financial services, serving more than 560 thousand customers. The Group is present in Romania through: UniCredit Bank, UniCredit Consumer Financing, UniCredit Leasing Corporation, UniCredit Insurance Broker, UniCredit Leasing Fleet Management, UCTAM, Pioneer Asset Management, and UniCredit Business Integrated Solutions.


Press contact: 

UniCredit Bank, Identity and Communication 

Ioana Ursu, ioana.ursu@unicredit.ro

In 6M 2015, UniCredit Tiriac Bank Records a consolidated Net Profit of RON 106.8mn

6 August 2015 – UniCredit Tiriac Bank reported a consolidated net profit of RON 106.8mn (EUR 24.0mn) before minority interest in the first six months of 2015. 

In the same period, consolidated revenues reached RON 754.3mn (EUR 169.5mn), while the operational expenses were RON 391.9mn (EUR 88.1mn). Therefore, the net operating income was RON 362.4mn (EUR 81.5mn). This translates into good financial indicators: annualised Return-on-equity at 6.8% and Return-on-assets at 0.7%. Cost-to-income ratio is 52.0%. 

Impairment losses on financial assets in amount of RON 235.5mn demonstrate the Group’s prudent approach towards risk. Consolidated provision coverage for on-balance sheet loan portfolio reached 9.23%, while annualised Cost-of-risk was 221bp as of June 2015. Non-performing-loans ratio (90+ days past due and loans with legal actions initiated) is 9.56%, level significantly below the registered average in Romanian banking system. 

Consolidated balance sheet reached RON 31.0bn (EUR 6.9bn) at the end of June 2015. Outstanding on-balance sheet loan portfolio is RON 23.1bn (EUR 5.2bn), up 1.1% compared to the end of 2014. In the same time, customer deposits reached RON 14.1bn (EUR 3.2bn), down 11.2% compared to the end of 2014. UniCredit Tiriac Bank has one of the highest proportions of gross loans in total assets of the Romanian banking system, demonstrating the strong commitment of the group to finance the Romanian economy.

On a standalone perimeter, solvency ratio was 14.34% as of June 2015, comfortably above regulatory requirements.

“The first six months of 2015 were marked by a better economic evolution, mainly supported by consumer exuberance and improved confidence in the future but, at the same time, by a still moderate level of optimism of companies, whose expectations improve only gradually. In this general context, the proactive attitude and our efforts to always anticipate and respond to our customers’ needs helped us register a very good evolution and results. Thus, we further strengthened the powerful position UniCredit Tiriac Bank has in the corporate segment, with a 3% growth in this segment, an almost double growth rate compared to the market performance. In the same time, the mortgage lending segment registered a very good evolution, marking in the first six months of the year a 2,5% increase and representing an important engine of our retail activity", declared Rasvan Radu, Country Chairman of UniCredit in Romania and CEO of UniCredit Tiriac Bank.

European funds segment also showed a remarkable evolution, as the value of the monthly average balance of the EU funds’ used amounts in the first six months went up by 12% compared with the average recorded in 2014. From the total of the financing granted through UniCredit Tiriac Bank to its EU funds segment in this period, approximately one third were directed to the agricultural field, a strong proof of UniCredit Tiriac Bank involvement in supporting this strategic segment of the Romanian economy.

On a standalone perimeter UniCredit Tiriac Bank obtained RON 617.5mn operating income as of June 2015, down 5.3% versus last year similar period. The operational expenses for the same period were RON 333.5mn, down 1.2% versus last year, leading to a Cost-to income ratio of 54% up by 2.2pp versus last year result. The bank ended the first half of the year with a net profit of RON 84.1mn, down by 7.5% versus H1 2014.

The annualized Cost of risk is 211bp, provision coverage is 9.12% and the Non-performing-loans ratio (90+ days past due and loans with legal actions initiated) is 8.17%.

Total assets as of June 2015 were RON 27.3bn down 4.8% versus year-end 2014. Gross loans reached RON 19.0bn slightly up by 0.5% year-to-date, while deposits reached RON 14.2bn down 12.3% versus December 2014. Loans-to-deposits ratio for the bank stand alone was 133.2% as of June 2015.

UniCredit ended the reported period with 183 branches and 3,352 employees in Romania.

Also in the first half of 2015 it was completed the transaction whereby UniCredit Bank Austria AG has bought shares representing 45 % of UniCredit Tiriac Bank SA which were previously owned by Tiriac Holdings Ltd., increasing its capital within UniCredit Tiriac Bank SA from 50.6 % to 95.6 %. The Group reiterated its interest in Romanian market, taking advantage of the opportunity to consolidate and expand its market position .

*********

The consolidated Financial Statements as of June 2015 are prepared in accordance with International Financial Reporting Standards as endorsed by European Union.

About UniCredit Tiriac Bank

UniCredit Ţiriac Bank is part of UniCredit Group, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Ţiriac Bank is a true "one-stop-shop" for financial services, serving more than 560 thousand customers. The Group is present in Romania through: UniCredit Tiriac Bank, UniCredit Consumer Financing, UniCredit Leasing Corporation, UniCredit Insurance Broker, UniCredit Leasing Fleet Management, UCTAM, Pioneer Asset Management, and UniCredit Business Integrated Solutions.

For more information, please contact UniCredit Tiriac Bank, Identity&Communication Department at Ioana Ursu, ioana.ursu@unicredit.ro

UniCredit named Best Bank in Central and Eastern Europe

Group wins nine Euromoney Awards for Excellence 2015

Vienna, July 10, 2015 – Euromoney, the prestigious UK-based financial markets magazine, has presented UniCredit with nine Awards for Excellence this year, including Best Bank in Central Eastern Europe, Best Debt House in Central Eastern Europe and Best Transaction Services House in Central Eastern Europe.

“I am delighted by Euromoney’s extensive recognition of our services and thank all of our staff for their hard work,” said Carlo Vivaldi, Head of CEE Division at UniCredit. “The economic development of Central and Eastern Europe is increasingly diverging. New member states in the region have particularly benefited from their integration with the European Union, as demand for their products and services has risen significantly in the eurozone. In this climate, UniCredit’s broad regional footprint is proving to be both balanced and resilient. While our competitors are scaling back their businesses, we are fine-tuning our services and investing in new banking technologies,” Mr. Vivaldi added.

The awards, presented at the annual Euromoney Awards for Excellence dinner last night in London, were determined by a jury of experienced journalists chaired by Euromoney’s publisher, Neil Osborn.

Below is the complete list of UniCredit’s Euromoney Awards for Excellence 2015: 

  • Best Bank in Central Eastern Europe
  • Best Debt House in Central Eastern Europe
  • Best Transaction Services House in Central Eastern Europe
  • Best Debt House in Austria
  • Best Bank in Bosnia
  • Best Bank in Bulgaria
  • Best Bank in Hungary
  • Best Bank in Russia
  • Best Bank in Slovenia

UniCredit

UniCredit is one of the leading European commercial banks, with strong roots in 17 European countries. Our worldwide network in roughly 50 markets comprises around 8,600 outlets and more than 145,000 employees.

Our Group operates the largest international banking network in Central and Eastern Europe with almost 3,500 business outlets (including Poland and Turkey).

UniCredit is currently represented in the following countries: Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Germany, Italy, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey, Ukraine and Hungary. UniCredit operates in Baltic states through its leasing company.

Contact:              

UniCredit Media Relations International

Tiemon Kiesenhofer, Tel.: +43 (0) 50505 56036

Email: tiemon.kiesenhofer@unicreditgroup.at

Kamyar Naficy, Tel.: +44 (0)207 826 6088

E-Mail: kamyar.naficy@unicredit.eu

CEE Quarterly 3Q15

6.07.2015

CEE economic growth 2015 surprises partially to the upside

  • EU-CEE sub-region benefits most thanks to its deeper integration with the euro area
  • Russia and Ukraine will remain in recession this year due to falling commodity prices, long-standing structural rigidities and the conflict in eastern Ukraine

Central and Eastern Europe (CEE) saw a good start into 2015. Buoyed by the rebound in demand in the euro area and ample liquidity thanks to the ECB´s quantitative easing, CEE economic growth surprised to the upside, but not everywhere. While it firmed in Central Europe, growth remains lackluster in Turkey and elusive in Croatia and Serbia. This is one of the key findings of the latest “CEE Quarterly”, which is published every quarter by UniCredit Economics & FI/FX Research and is devoted to economic activity in the region. Russia and Ukraine, meanwhile, sank deeper into recession as the fallout of the drop in commodity prices has been exacerbated by the geopolitical tensions between and the related sanctions on Russia.

Increasingly divergent growth outlook

Despite the generally favourable global backdrop, growth performance in the CEE sub-regions has become increasingly divergent with regards to the 1Q15 outcome. The new EU members in Central Europe (EU-CEE[1]) benefitted the most thanks to their deeper integration with the euro area. Moreover, unlike the recent past, this time the rebound in growth has been broad based, with fixed investment picking up on the improved growth outlook and private consumption finally taking off in response to improving labor markets, rising real income and the winding down of the multi-year deleveraging process that begun in the aftermath of the 2008 global financial crisis. As a result, growth is likely to firm above 3 percent on average and become more sustainable and less dependent on foreign demand.

GDP change in %

Forecast for 2015

Forecast for 2016

EU Members

Bulgaria

2.1

2.4

Croatia

0.3

0.8

Poland

3.8

3.9

Romania

3.7

3.4

Slovakia

3.2

3.3

Slovenia

2.3

2.2

Czech Republic

3.8

2.7

Hungary

3.2

2.9

EU candidates and others

Bosnia-Herzegovina

2.0

3.5

Russia

-3.4

-1.6

Serbia

0.2

1.5

Turkey

2.7

2.4

Ukraine

-13.0

2.0

“The EU-CEE sub-region also benefits from the virtual absence of macroeconomic imbalances. Inflation is all but non-existent, current accounts are in balance or in surplus, fiscal deficits well anchored below 3 percent of GDP and local banking systems, which are to a large extent foreign-owned, are well-capitalized and liquid”, said Lubomir Mitov, Chief CEE Economist at UniCredit, “For this reason markets´ risk perceptions are low and policy flexibility is much larger than elsewhere with little or no need for further fiscal adjustment.”

In contrast, fiscal policy will remain a drag on growth in Croatia and Serbia, both of which have fiscal deficit on the order of 5% of GDP and government debt at more than 80% of GDP. Croatia, as an EU member, has pledged to reduce its fiscal deficit under the EU’s Excessive Deficit Procedure, while Serbia has committed to a significant fiscal adjustment under an IMF standby arrangement. Lesser integration and less enabling investment climates, along with restrictive fiscal stances, will prevent both Croatia and Serbia from benefitting from the rebound in the euro area as much as the EU-CEE. This said, UniCredit researchers expect eventually Croatia to exit recession this year. Serbia should return to growth, too, but the pace of economic expansion will remain modest at less than 1 percent. Plagued by political uncertainty, heightened market volatility and sluggish exports, growth in Turkey will languish in 2015.

Russia and Ukraine will remain in recession this year as a result of the combination of falling commodity prices, long-standing structural rigidities and the fallout of the conflict in eastern Ukraine. However, the economic outlook is quite different in each country: In Ukraine, real GDP now looks likely to drop by as much as 12 to 13 percent, and any recovery is contingent on securing additional official funding and reaching a durable negotiated solution in the country´s east. In Russia, the recession is likely to be shallower, but also more protracted. This would reflect not only the stabilization of oil prices and the ruble, but also the delayed response to the drop in demand. At the same time prospects for recovery appear muted by long-standing structural weaknesses and the consequences of international sanctions.

Fed rate hikes may question growth of some CEE countries through global risk appetite

After all downside risks remain plentiful. Some of these would affect the whole CEE region, and some would have a more limited impact. Among the global risks, key for the region are a potentially renewed slowdown in Europe and the impact of the upcoming Fed rate hikes. A potential renewal of the fighting in Ukraine and a disorderly Grexit are two risk events with a more limited impact. “We judge the likelihood of a slowdown in Europe as low, but feel that markets tend to underestimate the potential impact of the Fed rate hikes on global risk appetite and capital flows to emerging markets”, stated Lubomir Mitov. The effect of the Fed hikes will be more nuanced and would vary depending on the macroeconomic vulnerability of each country.

A possible intensification of fighting in Ukraine or a disorderly Grexit are likely to have relatively limited contagion effects beyond countries directly involved. Renewed hostilities in Ukraine would mostly hurt Russia and Ukraine themselves barring sustained natural gas supply interruptions. A Grexit would hit trade in the neighbouring countries, but a broader dislocation should be averted with local subsidiaries of Greek banks well ring-fenced.

UniCredit

UniCredit is one of the leading European commercial banks with strong roots in 17 European countries. Our world-wide network in roughly 50 markets comprises around 8,600 outlets and more than 145,000 employees (as of 31 December 2014).

The Group operates the largest international banking network in Central and Eastern Europe with almost 3,500 business outlets (including Poland and Turkey). 

UniCredit is currently represented in the following countries: Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Germany, Italy, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey, Ukraine and Hungary. UniCredit operates in the Baltic states with a leasing company (as of 31 December 2014).


[1] The EU-CEE sub-region includes the Baltic states, Bulgaria, the Czech Republic, Poland, Romania, Slovakia, Slovenia and Hungary.

UniCredit announces renewal and extension of partnership with UEFA until 2018

  • UniCredit will become Official Bank of UEFA Club Competitions
  • Sponsor of the UEFA Champions League, UEFA Europa League, UEFA Futsal Cup Finals, UEFA Super Cup, UEFA Women’s Champions League and UEFA Youth League
  • Sponsorship results once more proof of success: UniCredit generated an average return on comparable costs of 225% after five sponsorship seasons of UEFA Champions League

MILAN, BERLIN 6th June, 2015 – Today UniCredit announced the renewal and extension of

their partnership with UEFA for the 2015 – 2018 cycle after six successful UEFA Champions League sponsorship seasons. UniCredit’s sponsorship rights were extended to all major European club football tournaments. Consequently, UniCredit will become Official Bank of UEFA Club Competitions and support the UEFA Champions League, UEFA Europa League, UEFA Futsal Cup Finals, UEFA Super Cup, UEFA Women’s Champions League and UEFA Youth League.

“We are proud to announce that UniCredit will become the Official Bank of UEFA Club Competitions. Over the past years the partnership with UEFA has been a driving factor in achieving our set objectives. More than 300 UEFA Champions League related campaigns initiated across our Group show the appreciation of our markets and divisions for this sponsorship. Having effectively established our brand, the augmented rights package allows us to shift our focus to support the daily business and empower the local brands. It will enable us to reach even more football fans across Europe, granting us additional sales and relationship management opportunities.” said Federico Ghizzoni, CEO of UniCredit.

Guy-Laurent Epstein, Marketing Director of UEFA Events S.A. added:

“UniCredit has been one of our sponsors for six years now, and we are delighted that we were able to agree on the extension of this partnership. Their renewed and extended support and contribution, particularly in the promotion of our competitions across Eastern Europe, is highly valued. The UEFA Champions League continues to be an invaluable platform for our sponsor partners, and with the addition of the UEFA Europa League we are extremely confident that UniCredit will obtain excellent opportunities to benefit from this partnership across their key markets.”

To date, the success of UniCredit’s sponsorship engagement in terms of ‘brand awareness’, ‘brand image’, ‘customer and employee engagement’ and ‘propensity to buy’ has greatly contributed to the Group meeting their ambitious expectations.

Extension of sponsorship rights package allows focus shift on support of daily Business

The future role as Official Bank of UEFA Club Competitions grants UniCredit and its local markets access to even more football fans thanks to the extension of the UEFA Europa League package. The new rights package will guarantee an augmented appearance on media which also implies an increase of visibility on LED boards for local banks brands and products. Furthermore, it allows UniCredit to shift its focus to support the daily business as the Group will be entitled to run UEFA Champions League and UEFA Europa League related promotions for an increased range of products, including promotions for payments and cooperations with insurance companies and money transfer service providers. For the next sponsorship cycle UniCredit will additionally obtain a new sole and exclusive on-pitch right, which allows UniCredit to enable up to five kids to accompany the referees onto the pitch ahead of every UEFA Champions League match. In addition to the returning UEFA Champions League Trophy Tour, UniCredit gained the right to activate the UEFA Europa League Final Trophy Tour if the Final is held in one of UniCredit’s core markets.

Javier Zanetti is excited about being UniCredit’s Official Ambassador for the UEFA Champions League Final

”UniCredit has been a reliable partner of the UEFA Champions League for six years. As I can look back on a long and successful career playing in Europe for a single top club after having left Argentina, I have experienced the significance of loyalty and the power of a strong partnership. I’m delighted to contribute to this weekend and UniCredit’s partnership with the UEFA Champions League,” says Javier Zanetti, Official UniCredit Ambassador for the UEFA Champions League Final 2015.

UniCredit and UEFA Champions League value six years of strong partnership

Pushed by exclusive assets and a comprehensive marketing plan, UniCredit generated an average return on comparable costs of 225% after five sponsorship seasons and managed to achieve a steady increase of ‘brand appeal’ and ‘propensity to buy’.

Market research data collected across UniCredit’s countries of presence assessing the effectiveness of UniCredit’s sponsorship of the UEFA Champions League has again yielded strong results. The UEFA Champions League is one of the main ways in which those who are not customers of our Group interact with it. In all of our countries of presence save one it is among the top three points of contact with the Group, mentioned by almost one third of interviewees.

The sponsorship is thus a relevant way in which non-customers acquire familiarity and build up preference towards our brands (both familiarity and preference are higher on average by almost 20 percentage points among interviewees who are aware of the sponsorship). Looking at those who are already customers of UniCredit, the sponsorship of the UEFA Champions League increases their preference towards the brand as well as the propensity to recommend it (higher on average by over 10 percentage points among interviewed customers aware of the sponsorship).

Furthermore this year UniCredit presented exclusive attractive activation opportunities including:

  • The sixth Trophy Tour with stops in Slovakia, Austria, Croatia and Serbia that generated roughly 650 million gross contacts.
  • Panini co-operation, the engagement on the UniCredit Champions Facebook channels related to the UEFA Champions League Virtual Collection increased by 296% compared to the previous season.
  • Official UEFA Champions League Match Coin, the exclusive opportunity to hand over the coin to the referee shortly ahead of the game next to the pitch, activated by 12 UniCredit markets.
  • Final Confetti, UniCredit has again activated the right to distribute the actual celebration confetti that will rain down on the winners of the 2015 Final.
  • “Road to Berlin”: HypoVereinsbank, member of UniCredit Group, launched an exciting Final related campaign in HypoVereinsbank branches and on social media.

UniCredit and HypoVereinsbank will offer the opportunity to special guests to play in the Olympiastadion the day after the Final.

About UniCredit

UniCredit is a leading European financial group with an international network spanning 50 markets. With circa 8,500 branches[1] and 147,000[2] employees serving more than 32 million clients, the Group has commercial banking operations in 17 countries and assets of €900 billion.

[1] Figures include branches of Koç Financial Group calculated at 100% [2] FTE "Full Time Equivalent"= number of employees counted for the rate of presence. Figures include employees of Koç Financial Services Group calculated at 100%.

As one of the strongest banks in Europe, UniCredit has a Common Equity Tier 1 Capital ratio of 10.35 percent pro-forma (Fully loaded Basel III, including Pioneer deal).

It also has the largest presence of banks in Central and Eastern Europe, with nearly 3,500 branches and assets of €165 billion.

UniCredit operates in: Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Germany, Hungary, Italy, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

For more information, please go to www.unicreditgroup.eu/en - Data as of March 31, 2015

For further information:

UniCredit S.p.A. Media Relations

Tel. +39 02 88623569; E-mail: MediaRelations@unicredit.eu

UniCredit Bank Austria buys all shares held by Tiriac Holdings Ltd. in UniCredit Tiriac Bank

UniCredit Bank Austria AG acquires the 45 per cent interest in UniCredit Tiriac Bank S.A. held by Tiriac Holdings Ltd., increasing its equity stake from 50.6 per cent to 95.6 per cent

Tiriac Holdings Ltd. is selling its 45 per cent shareholding interest in UniCredit Tiriac Bank S.A. to UniCredit Bank Austria AG. As a result, UniCredit Bank Austria AG’s equity stake in UniCredit Tiriac Bank S.A. increases from 50.6 per cent to 95.6 per cent. The closing of the transaction is expected to take place before the end of June. The parties to the agreement have concluded not to disclose the selling price or any other transaction details. UniCredit Bank Austria AG is considering making an offer to the remaining minority shareholders to purchase their shares.

Carlo Vivaldi, Deputy Chairman of the Management Board and Head of the CEE Division of UniCredit Bank Austria AG: “I would like to thank Ion Tiriac and Tiriac Holdings representatives for the excellent cooperation and their commitment in the past years. Following our acquisition of the Royal Bank of Scotland’s retail and corporate customer portfolios in Romania, we are now further strengthening and expanding our market position in Romania through this transaction.”

Romania is an attractive growth market, with GDP expected to increase by 2.7 per cent in 2015[1]. As an export-oriented EU country in CEE, Romania should be able to fully benefit from its competitive advantages and close economic links with Germany while the ECB’s policy of quantitative easing should stimulate capital inflows and keep funding costs low.

UniCredit Tiriac Bank S.A., a Romanian bank headquartered in Bucharest, is a member of UniCredit’s CEE network. Around 3,350 employees are serving retail and corporate customers in over 180 branches in Romania.

Enquiries:         Bank Austria Media Relations Austria

                        Martin Halama, tel. +43 (0) 50505 52371
                        e-mail: martin.halama@unicreditgroup.at


[1] Source: CEE Quarterly, published every quarter by UniCredit Economics & FI/FX Research

In 3M 2014, UniCredit Tiriac Bank records a consolidated net profit of RON 52.8mn

12.05.2015

Tuesday, 12 May 2015 - As of 3M 2015 UniCredit Tiriac Bank reports RON 52.8mn (EUR 11.9mn) consolidated net profit before minority interest. 

Consolidated revenues were at RON 372.9mn (EUR 83.8mn) for the reported period. Operational expenses reached RON 196.2mn (EUR 44.1mn).

The bank maintained a cautious approach towards risk registering an impairment loss on financial assets in amount of RON 111.7mn. The annualised Return-on-equity is 6.8% and the Return-on-assets is 0.7%. Cost-to-income ratio is 52.6%. 

Consolidated balance sheet reached RON 30.8bn (EUR 7.0bn) at the end of March 2015. Outstanding on-balance sheet loan portfolio is RON 22.6bn (RON 23.6bn including externalised loans). Customer deposits reached RON 14.0bn, down 11.6%. 

Solvency ratio is 14.92% stand-alone as of Feb 2015, comfortably above regulatory requirements. Consolidated provision coverage for on-balance sheet loan portfolio reached 10.0%, while annualised Cost-of-risk was 220bp as of March 2015. Non-performing-loans ratio (90+ days past due and loans with legal actions initiated) is 12.48%.

“We are continuing to consolidate our position as a top banking group on the local market, by serving all our client segments and adjusting in a proactive manner our products and services offering, to answer our clients’ needs as best as we can. 2015 started off well, and our first quarter results prove the fact that UniCredit is conducting a sustainable business in Romania and is actively getting involved in financing the economy, both by collaborating with big corporates and SMEs and by answering the banking needs of private individuals. Our EU funds segment evolution confirms the involvement of UniCredit Tiriac Bank in sustaining this strategic sector of the Romanian economy.” declared Rasvan Radu, Country Chairman of UniCredit in Romania and CEO of UniCredit Tiriac Bank.  

In the first quarter of the year, the EU funds business of UniCredit registered a strong evolution, while the value of the average balance of the EU funds’ used amounts went up by 21% comparing with the same period of last year. From the total of the financing granted through UniCredit Tiriac Bank to its EU funds segment, approximately one third are directed to the agricultural field. Until 31st of March 2015, over 300 SMEs received banking financing of over 80 million euro as part of the guarantee agreement signed by the bank and the European Investment Fund, the Jeremie Initiative, the amount being double than the one registered on 31 March 2014.

On a standalone perimeter UniCredit Tiriac Bank registered in Q1 2015 RON 305.8mn operating income, down 9.7% versus last year similar period, mainly due to the drop of interest rate income. The operational expenses for the same period were RON 167.7mn slightly down compared to last year result, leading to a Cost-to income ratio of 54.8% up by 5.3bp versus last year result. The bank ended the period with a net profit of RON 37.3mn down 41.6% versus Q1 2014. The annualized Cost of risk is 219bp, provision coverage is 10.14% and the Non-performing-loans ratio (90+ days past due and loans with legal actions initiated) is 12.33%.

Total assets as of March 2015 are RON 27.1bn down 5.5% versus year-end 2015. Gross loans reached RON 18.6bn down by 1.6% year-to-date, while deposits are RON 14.2bn down 12.4% versus December 2014. Loans-to-deposits ratio for the bank stand alone was 130.8% as of March 2015. 

Starting with April 2014, the Bank is consolidating UniCredit Leasing Corporation IFN S.A. (financial leasing company, providing services to corporate clients and individuals) and UniCredit Leasing Romania S.A. The Bank has acquired controlling interest of 99.90% in UniCredit Leasing Corporation IFN S.A. and respectively 99.99% in UniCredit Leasing Romania S.A.

UniCredit ended the reported period with 183 branches and 3,337 employees in Romania.

***

The consolidated Financial Statements as of March 2015 are prepared in accordance with International Financial Reporting Standards as endorsed by European Union.

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit, the European financial group with the most extended network in CEE. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality products and services for all customer segments, by means of 184 branches. The bank aims at permanently maintaining the customer at the center of its activities, to be easy to deal with and an active part in the communities it carries out its business.
UniCredit is represented in Romania by the following companies: Unicredit Tiriac Bank, UniCredit Consumer Financing (UCFIN), UniCredit Leasing Corporation (UCLC), UniCredit Insurance Broker, Unicredit Leasing Fleet Management, UCTAM, Pioneer Asset Management and UniCredit Business Integrated Solutions (UBIS).

UniCredit Tiriac Bank supports World Press Photo Romania

11.05.2015

Bucharest, May 7, 2015 - UniCredit Tiriac Bank is pleased to announce the support of itinerant exhibition World Press Photo 2015 in Romania.

The best world press photos can not be achieved without passion and, sometimes, even with risks for the man who is capturing the images, but the result is stored in history and amazes the whole world. World Press Photo brings together and awards these photos since 1955.

"Devoted to tradition of the bank to support the excellence in the visual arts, we stand by World Press Photo Romania and support the effort to bring the best press photos from 2014 to be seen more easily by the Romanian public," says Anca Nuta, Identity & Communication Director, UniCredit Tiriac Bank.

The exhibition can be visited from 8 to 29 May 2015 in Bucharest, at Universitate square. In the following days, UniCredit Tiriac Bank prepares on its Facebook page, more surprises for photo enthusiasts.

***

About World Press Photo

With a history that already exceeds half a century, World Press Photo is the most prestigious photojournalism contest in the world and the awarded photos in each year is not just an illustrated chronicle of past years, but also a history of photojournalism.
In the latest edition, the organizers received more than 95,000 photos from about 5,000 photographers from 125 countries.
World Press Photo Exhibition is the biggest itinerant event in the world and reach over 3.5 million people in more than 100 locations in almost 50 countries.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit, one of the biggest European financial groups, whose cultural and artistic activities supporting put particular emphasis on visual arts, at the same time covering the areas of music and literature. The cultural-artistic component of ethics and responsibility of the bank are focused on the involvement in long-term projects, for example International Festival „George Enescu” or Sibiu International Theatre Festival.

UniCredit Tiriac Bank presents Diet Sayler to the contemporary art public

22.04.2015

1F Expozitiei Boulevard Project Space continues the series of thematic exhibitions

22 April 2015 - UniCredit Tiriac Bank
 inaugurates a new contemporary art exhibition in the Project Space of 1F Expozitiei Boulevard. This is dedicated to Diet Sayler and can be visited between April 24 and June 30, 2015.

"We continue with our recovery approach and bringing up to public attention important Romanian artists who are internationally recognized and appreciated. It is an honor for us to organize an exhibition with the work of Diet Sayler, an artist whose works are part of the famous museum collections such as MoMA in New York or Albertina Museum in Vienna.", said Anca Nuta, Head of Identity & Communication, UniCredit Tiriac Bank.

The main criterion in selecting the works was the overview of the artistic media expression of Diet Slayer"s works. Also, is suggested his aesthetic trajectory along a notable career. The exhibition includes examples of painting, graphics, photography and even poetry.

"Starting from his desire to be called an "author" instead of an "artist", we found it important to illustrate the complexity of the artistic process and the tools of expression that Diet Sayler uses. Thus, large works of abstract painting can be found along with graphic works, photos and poetry. Diet Sayler is an important name for the national and international contemporary art and, in particular, he is a landmark of the Romanian art history", said Adriana Tranca, exhibition curator. 

Diet Sayler lives and works in Nuremberg, Germany. Born in Timisoara in 1939, he studied civil engineering at the Polytechnic University of Timisoara. At the same time, he studied painting in the studio of Julius Podlipny. An important moment in the evolution of the artist was the exhibition "5 young artists from Timisoara" in 1968, the first abstract-constructivist exhibition in Romania. Five artists, Diet Sayler, Stefan Bertalan, Constantin Flondor Strainu, Roman Cotosman and Molnar Zoltan, organized at the Kalinderu gallery in Bucharest one of the most important exhibitions of the communist period. So important that after the event, MoMA New York acquired a first artwork, fact which has not gone unnoticed by the authorities of the time, as the artist says. In 1973, Diet Sayler emigrated to Germany, where he established definitively. In 1996 he was named professor at the Academy of Fine Arts in Nuremberg, position which consolidated his status and recognition. Between 1996 and 2013, are organized retrospectives in Ludwigshafen, Bucharest, Cambridge, Prague, Geneva, Bayreuth and others. Personal exhibitions were organized across Europe, in Austria, Italy, Czech Republic, Switzerland, Germany and other countries. 

Diet Sayler's artworks are part of the National Museum of Art (Bucharest, Romania), Albertina Museum (Vienna, Austria), Museum of Modern Art (New York, USA), Neue Galerie (Kassel, Germany), Neues Museum Nürnberg (Nuremberg , Germany), Museu de Arte Moderna do Rio de Janeiro (Rio de Janeiro, Brazil) and others.

The exhibition, open to the public from Monday to Friday, between 10:00 am.-8:00 pm., was organised with the support of 418 Contemporary Art Gallery from Bucharest.


About 1F Expozitiei Boulevard Project Space

UniCredit Tiriac Bank has developed 1F Expozitiei Boulevard Space Project as a special area dedicated to contemporary art projects, located in the lobby of the headquarter and dedicated to the team and the bank's customers, but also to the general public. 

The current recovery curatorial program of Romanian artists of international recognition, but less known to the local public, as a strategy to rewrite cultural history, comes to continue the UniCredit Tiriac Bank"s tradition, which, between September 2012 - September 2014, brought to the Romanian public artworks from the vast collection of UniCredit Group, belonging to famous contemporary international artists such as Georg Baselitz, Matthias Bitzer or Giuseppe Penone.

Thus, the lobby of the UniCredit Tiriac Bank headquarters from 1F Expozitiei Boulevard, hosted several concept-exhibitions: Into the room will come an eagle (March - September 2014), Frost Flowers (September 2013 - February 2014), Flight Tracking (March - August 2013), Spatial Poetry (September 2012 - February 2013). 


About UniCredit Tiriac Bank


UniCredit Tiriac Bank is part of UniCredit, one of the biggest European financial groups, whose cultural and artistic supporting activities put particular emphasis on visual arts, at the same time covering the areas of music and literature. The cultural-artistic component of ethics and responsibility of the bank are focused on the involvement in long-term projects, for example Sibiu International Theatre Festival.

UniCredit Foundation invests in the social enterprise sector in Romania

19.02.2015

In 2015, UniCredit Foundation has reinforced its dedication to foster the social enterprise sector in Romania by continuing its partnership with NESsT Romania, a catalyst for emerging-market social enterprises. 

Since 2012, UniCredit Foundation has provided support for start-up and incubation of social enterprises with a total funding of around EUR 240,000, of which over EUR 80,000 for the new activities planned in 2015. UniCredit Foundation has so far supported the development of 11 social enterprises. Beside the financial support, over 50 UniCredit employees (from UniCredit Tiriack Bank and UniCredit Business Integrated Solutions SCPA) in Romania have also been actively engaged in the planning process of social enterprises dedicating their time and knowledge.


While modern economic models bring prosperity to emerging market countries, they also lead to growing inequalities in the distribution of wealth. In Central and Eastern Europe, sustainable income opportunities are especially limited for low-income communities and marginalized groups, including people with disabilities, minorities, women, and at-risk youth. In Europe, even short-term approaches to alleviating these challenges have diminished in recent years due to reduced funding for nongovernmental organizations (NGOs). Therefore, entrepreneurs are seeking market-driven solutions to these social issues, in the form of social enterprises.

In Romania, where the 28 percent poverty rate (according to Eurostat) is one of the highest in Europe, social entrepreneurship is swiftly gaining support as a way to address such harsh economic realities and social disparities. Despite receiving increased attention in the past year, however, Romanian social entrepreneurs still face substantial challenges, including insufficient business experience, limited capacity, and difficulty attracting investors.

With support from UniCredit Foundation and other sponsors, NESsT Romania - a social enterprise incubator currently supporting a portfolio of nine high-impact social enterprises - aims to strengthen the sustainability and capacity of Romanian social entrepreneurs as agents of positive change and inclusive growth in low-income, marginalized communities. 

This year, UniCredit Foundation renewed its support for NESsT Romania and its’ programs for social enterprises. With this support, NESsT Romania will support its current portfolio of early-stage social enterprises to consolidate their models through ongoing strategic and tailored business planning support. In addition, NESsT will host a 2015 social enterprise competition to identify social entrepreneurs with viable impact ideas for business planning training. They will receive capacity support to plan their social enterprise idea. The strongest business plans will then be invited to join the NESsT incubation portfolio and receive the same strategic support provided to the current portfolio. More details about the competition, here

Media contact: 
Dana Borontis
NESsT, Administrative and Program Associate
romania@nesst.org


About NESsT

NESsT is a catalyst for emerging-market social enterprises and worldwide. Using a combination of capital investments, business development, and strategic advising, NESsT equips entrepreneurs in emerging markets with the tools and skills they need to plan, launch, and scale their socially beneficial business ideas. We support innovative market-driven methods of addressing major social issues, including poverty, unemployment, poor education and opportunities for young people, labor discrimination, and other challenges facing low income individuals in marginalized communities. For every US$1 invested in a NESsT social enterprise, US$2 in revenue is generated in return. For more information visit www.nesst.org

About UniCredit Foundation
UniCredit Foundation is a corporate foundation that was established in 2003 in order to contribute to the development of solidarity and philanthropy in the communities and territories where UniCredit is present. Through the transfer of financial resources and the typical management skills of a company UniCredit Foundation supports projects of significant social impact and innovation, implemented by local non-profit organizations.

About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of UniCredit, leading European financial group with the largest CEE presence. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products to all categories of clients. The bank strives to have a client centric policy, to be an easy to deal with partner and an active part of the communities in which it operates. 
UniCredit is also active in Romania through Unicredit Tiriac Bank, UniCredit Consumer Financing (UCFIN), UniCredit Leasing Corporation (UCLC), UniCredit Insurance Broker, Unicredit Leasing Fleet Management, UCTAM, Pioneer Asset Management si UniCredit Business Integrated Solutions SCPA.

About UniCredit Business Integrated Solutions SCPA 
UniCredit Business Integrated Solutions is UniCredit Group’s global services company, created from the integration and consolidation of 16 Group companies and is dedicated to providing services in the sectors of Information and Communication Technology (ICT), Back Office and Middle Office, Real Estate, Security and Procurement.
It is one of the first service companies to be created at European level and its aim is to consolidate and reorganize those operational activities necessary for the correct functioning of the Groups’ business by leveraging on a more flexible delivery and an improved response time.
The company includes about  10,000 people and oversee operations in 11 countries: Austria, Germany, Italy, Poland, Great Britain, Czech Republic, Romania, Slovakia, Hungary, USA (New York) and Singapore.

UniCredit Tiriac Bank obtained a net consolidated profit of RON 143,8 million - EUR 32,3 million - in 2014

12.02.2015

  • The bank continued to actively finance Romanian economy and grow on strategic segments : +13,1% for Corporate, +7,8% SME, +18% European Funds loan users
  • UniCredit Tiriac Bank continued the write-offs measure that was reflected in risk indicators improvement 
  • Customers needs and demands remain a priority; the bank considers new measures in order to supplementary adapt its approach in this respect 


Operational revenues settled at a solid level of RON 1,54 billion (EUR 346 million) at the end of 2014 - in the context of continuous decrease of interest margins, counter parted by the increase of volumes in the key activity areas.

Operational expenditures were RON 780 million (EUR 175,5 million), considering that the bank continued to closely monitor its costs. As a consequence, UniCredit Tiriac Bank obtained a comfortable operational profit of RON 760 million (EUR 171 million).

Net consolidated profit prior to minority interest was RON 143,8 million (EUR 32,3 million) for 2014, while the net profit after minority interest was RON 118 million (EURO 26,5 million).

Loan impairment stood at RON 600 million (EUR 135 million). Like in previous years, the bank closely analyzed the actual and potential risks, adequately reflecting them in the provision level.

Financial indicators reveal a balanced position: ROE is at 4,7%, while ROA was 0,4% at the end of 2014.  Cost to income ratio also remained at a balanced level of 50,7%.

UniCredit Leasing maintains its leading position, with a volume of new business for 2014 of EUR 201,5 million and an acquisition value of financed goods of EUR 241,2 million. The good results on this segment were supported by the development of innovative services, offered first of all to existent customers; by the creation of financing products for more and more specific markets, as well as new partnerships with equipment suppliers.

"The end of 2014 marked for us the completion of Corporate clients transfer from RBS Romania and at the same time it meant the passage to a new development of UniCredit Tiriac Bank, based on organic growth. This approach for 2015 is supported by positive signals in the Romanian economy - consumption recovery, as well as expectations of investment re-launch among companies and authorities. At the same time, the present discrepancy between consumption and credit demand determine us to be moderate in our anticipations.", said Rasvan Radu, Country Chairman of UniCredit in Romania and CEO of UniCredit Tiriac Bank.

Consolidated assets were at a total of RON 32,4 billion (EUR 7,23 billion) and loan portfolio reached RON 22,8 billion (RON 24,1 billion including externalized loans), supported by the increase of 7,8% in SME loans and 13,1% in companies loans (for December 2013 - December 2014).

The bank maintains its focus on SME segment and co-finance of European Funds projects. UniCredit Tiriac Bank implemented fast approval measures for loan facilities and operational efficiency of internal flows, reflected in shortening the response time and in a general better client service.

The segment of co-financing of European Funds projects also displayed a remarkable evolution in 2014 for UniCredit Tiriac Bank, considering that the volume of facilities approvals increased by approx 30% in 2014, as compared to 2013. Also, the balance value of credit usage by the beneficiaries of European Funds increased by 18%, from December 31st 2013 to December 31st 2014. Out of the total, approximately one third represents agriculture financing, which confirms the involvement of UniCredit Tiriac Bank in supporting this strategic area of the Romanian economy.

Regarding the bank’s activity within JEREMIE initiative, launched by the EC and FEI, UniCredit Tiriac Bank supported 216 SME by banking facilities that overpass 75 million EUR.

Customers deposits reached a volume of RON 15,9 billion (EUR 3,55 billion).

The bank has a comfortable liquidity from attraction of resources at local level, as well as financing lines from the group and international financial institutions.

In December 2014, UniCredit Tiriac Bank had 184 branches, while UniCredit group in Romania had 3357 employees.

The results are presented based on consolidated financial balance sheets of UniCredit Tiriac group - that includes UniCredit Tiriac Bank and its subsidiaries UniCredit Consumer Financing IFN SA, UniCredit Leasing Corporation IFN SA and UniCredit Insurance Broker SRL - made according to IFRS adopted by EU and applicable to credit institutions in Romania.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit, the European financial group with the most extended network in CEE. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality products and services for all customer segments, by means of 184 branches. The bank aims at permanently maintaining the customer at the center of its activities, to be easy to deal with and an active part in the communities it carries out its business.

UniCredit is represented in Romania by the following companies: Unicredit Tiriac Bank, UniCredit Consumer Financing (UCFIN), UniCredit Leasing Corporation (UCLC), UniCredit Insurance Broker, Unicredit Leasing Fleet Management, UCTAM, Pioneer Asset Management and UniCredit Business Integrated Solutions (UBIS).

*On standalone basis, UniCredit Tiriac Bank posted total operating income of RON 1,3 billion (EUR 293,4 million) at 31.12.2014, in decrease with 2,1% as compared to 2013. At the same time, operating expenses decreased by 1% in 2014, up to RON 692 million (EUR 155,7 million), while operating profit stood at RON 612 million (EUR 137,8 million), in decrease with 3% as compared to 2013. Bank’s net profit reached RON 80,3 million, approximately 7% higher than the previous year. Cost per income ratio was 53,1%, increased by 0,4 basis points as compared to 2013.

Individually, UniCredit Tiriac Bank reached a solvability level of 13,4% at December 31st 2014, comfortable for the recommended regulated thresholds. Annualized cost of risk reached 3,1% according to individual bank reporting in 2014, while non-performing loans rate (outstanding loans for more than 90 days, for which judiciary procedures were initiated ) were situated at a level of 20,8%. If we consider outstanding loans for more than 90 days in total portfolio, the rate is 9.6%.

Total assets of the bank were RON 28,7 billion (EUR 6,4 billion), up by 4,5% as compared to December 2013.  The volume of loans reached RON 18,9 billion (EUR 4,2 billion), up by 7,4 % as compared to the end of the previous year. Customer deposits amounted to RON 16,2 billion (EUR 3,6 billion) up 7% as compared to 2013. L/D at individual level remained constant, at 116%.

UniCredit Tiriac Bank records a net consolidated profit of RON 141,6 mn - EUR 31,8 mn - at 9M 2014

12.11.2014

  • UniCredit Tiriac Bank continued to actively support the real economy and maintained its customer-oriented business approach. SME loans grew by 9.5%, Corporate loans by 7.1% as compared to the beginning of the year. Disbursements of loans for EU Funds projects increased by 22% Sept 2013 to Sept. 2014
  • UniCredit Tiriac Bank prudently manages actual and potential risks related to the quality of the loans portfolio 


In the first 9 months of 2014, UniCredit Tiriac Bank reports
 a consolidated net profit after minority interest of RON 141.6 mn (EUR 31.8 mn).

Consolidated revenues stood consistently at RON 1.16 bn (EUR 261 mn) for the reported period, a similar level compared to the first 9M of 2013, despite significant shrinking of the interest margins last year, countered by the bank's stronger positioning on high potential business areas. Operational expenses were RON 585.3 mn (EUR 131.6 mn), as the bank continued to closely control costs. Thus, gross operating profit reached a confortable level of RON 575.7 mn (EUR 129.4 mn). Net impairment on loans reached RON 376.1 mn (EUR 84.5 mn).

UniCredit Tiriac Bank continues to carefully look at all actual and potential risks and to reflect them in an adequate manner in the loan loss provisions.

The results are reflected in solid financial indicators: annualised Return-on-Equity (ROE) was 6.3%, while Return-on-Assets (ROA) was 0.7%. Cost-to-income ratio remained at a balanced level of 50%.

UniCredit Leasing, the local market leader, increased its financing for the purchase of vehicles and equipment by 20% in the 9M 2014 compared to the same period of last year, to an aggregate value of RON 925 mn (EUR 208 mn). The volume of total assets increased slightly, to RON 2.87 bn (EUR 650 mn) at the end of September 2014.

"We are moving towards the end of a year filled with effervescent activity, but no less difficult than the previous one for the local financial sector. We are close to completing the integration of Corporate clients from RBS Romania, which required a significant increase in our efforts, but the process is running smoothly and will help us position ourselves more strongly as one of the top players in this segment. We focus more than ever on EU funds co-financing, knowing that 2014 and 2015 are critical years for the success of large public projects in the country and for the absorption rate in Romania. In the overall market, we continue our efforts to attract the bankable demand, which remains modest despite record low interest rates" said Rasvan Radu, Country Chairman UniCredit in Romania and CEO of UniCredit Tiriac Bank.


Consolidated balance sheet reached RON 28.9 bn (EUR 6.55 bn) at the end of September 2014. Outstanding on-balance sheet loan portfolio was RON 22.2bn (RON 23.7 bn including externalised loans), supported by the increase of small business portfolio (9.5% up year-to-date) and Corporates (7.1% up year-to-date). 

UniCredit Tiriac Bank maintains its focus on SMEs and EU Funds projects. For small and medium scale clients, the Bank has implemented a fast approval flow and measures of internal operational efficiency, reflected by an improvement in the client service model.

EU Funds projects have shown a remarkable evolution, proven by the volume of approved facilities in the first 9 months of this year, which has exceeded the entire volume for the last year. Also, outstanding disbursed loans for EU Funds beneficiaries increased by 22% between September 2013 and September 2014. Agriculture represents a third of these volumes, which confirms UniCredit Tiriac Bank’s commitment to this strategic economic field.
Customer deposits reached RON 12.6bn.  While key reference rates continued to slide at market level, clients appetite for higher earning investment and saving options increased. Outstanding amounts placed in investments funds sold by UniCredit Tiriac Bank were up 134%, from RON 159.5 mn (EUR 35.7 mn) at 30 September 2013 to RON 373.9 mn (EUR 84.8 mn) at 30 September 2014.

The bank benefits from a comfortable liquidity position, both from local sources, financing lines from Group level and IFIs.

UniCredit Tiriac Bank ended the reported period with 184 branches and 3,378 employees.
Presented results are consolidated for UniCredit Tiriac Group - which includes UniCredit Tiriac Bank as a parent company and subsidiaries UniCredit Consumer Financing IFN SA, UniCredit Leasing Romania SA, UniCredit Leasing Corporation IFN SA, ALLIB Leasing SRL, Debo Leasing IFN SA and UniCredit Insurance Broker SRL. The financial indicators are published according to IFRS and regulation for credit institutions in Romania.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit, leading European financial group with the largest CEE presence. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products for 580.000 clients. The bank strives to have a client centric policy, to be an easy to deal with partner and an active part of the communities in which it operates. 

UniCredit Group is also present in Romania through Unicredit Tiriac Bank, UniCredit Consumer Financing (UCFIN), UniCredit Leasing Corporation (UCLC), UniCredit Insurance Broker, Unicredit Leasing Fleet Management, Unicredit Leasing Romania, Allib ROM, Debo Leasing, UCTAM, Pioneer Asset Management si UniCredit Business Integrated Solutions (UBIS).

* On a stand alone basis, total operational revenues at 30.09.2014 were RON 980.5  mn (EUR 220.4 mn), down 4.7% year-on-year. Operational expenses increased by 3.9% to RON 511.8mn (EUR 115 mn). Thus,  gross operating profit was RON 468.7 mn (EUR 105.4 mn), down 12.7% year-on-year. Net profit for the period was RON 119.3mn, down 44.2% versus 9M 2013. Cost-to-income ratio was 52.2%, up 4.3pp versus the similar period of last year. 

The bank has proven a high resilience to the adverse economic environment - and to the potential deterioration scenarios for the coming years - as it was highlighted by the good results displayed at group level in the Asset Quality Review (AQR) performed by the European Central Bank (ECB) in collaboration with the European Banking Authority (EBA). This confirms that the group is very solid and has a strong capital position, significantly above all thresholds. Locally, UniCredit Tiriac recorded a solvency rate of 13.4% at September 30, 2014 on a standalone basis, above mandatory and recommended national thresholds.

Annualised Cost-of-risk for the period was 262bp, while Non-performing-loans ratio was 10.48% (over 90 days overdue). Considering all overdue loans, rate was 22.16%.

Total balance sheet of the Bank was RON 25.2mn (EUR 5.7 bn), down by 8.2% compared to December 2013. Gross Loans were up by 3.7% year-to-date, at RON 18,2 bn (EUR 4.1 bn). Deposits reached RON 13 bn (EUR 2.9 bn), down by 14.5% year-to-date. Loan-to-deposits ratio was at 140.5% on a stand alone basis.

UniCredit Tiriac Bank obtained a consolidated net profit of RON 106.7 mil - EUR 23.9 mil - in the first half of 2014

06.08.2014

  • SME loans grew by 10%, individuals segment by 13%, Corporates by 2.6%
  • The bank continued to focus on careful risk administration and efficiency
  • UniCredit Tiriac Bank announced yesterday the signing of the agreement to trasfer to Corporate clients of RBS Romania, after taking over the Retail porfolio last year. The bank thus confirms its commitment to the Romanian market, with a well-balanced strategy, adapted to the current market reality


UniCredit Tiriac Bank has posted a consolidated net profit after minority interest of RON 106.7 million (EUR 23.9 million) in the first half of 2014.


Consolidated operational revenues were RON 754.5 million (EUR 169 million), while operational expenditures were RON 374.8 million (EUR 83.9 million). Operational profit reached RON 379.7 million (EUR 85 million). Loan impairment stood at RON 263.7 million (EUR 59 million) in the first half of this year.

Financial indicators of UniCredit Tiriac Bank, calculated after minority interest, reveal a balanced position, better than the system average: ROE was at 7.2% in the first 6 months of 2014, while ROA was 0.7%. The constant concern for an efficient cost control was reflected by the cost to income ratio of 49.7% in June 2014. 

"UniCredit Tiriac Bank continued to sustain the dynamic of lending in the first half of the year, with SME and RON mortgage proving to be the higher potential areas. The transaction for the acquirement of Corporate clients from RBS Romania - which we have just announced - comes as a natural step, but also as a confirmation of our commitment to growth on the Romanian market, with a well-balanced strategy, adapted to the current market reality and long-term oriented. For the rest of the year, the Romanian economy could benefit from a possible acceleration of EU Funds absorption and consumption recovery - which has already shown some signs of settling on a positive trend, although with a considerable delay", said Rasvan Radu, CEO of UniCredit Tiriac Bank.

Assets were at a total of RON 28.9 billion (EUR 6.6 billion) at 30 June 2014. Loan portfolio reached RON 21.8 billion (RON 23.4 billion including externalized loans) at half year, supported by the increase of 10.4% in SME loans and of 13.1% in private individuals between June 2013 and June 2014.

Customer deposits reached a total volume of RON 12.8 (EUR 2.92 billion) and the evolution was supported by a 10.1 % volume growth in the SME in the last year, respectively 9.2 % for medium-sized companies and 23.5 % for individuals in the same interval. 

The ratio between loans and deposits stood at 171%.

UniCredit Tiriac Bank ended the first semester with 187 branches,  while the total number of employees for UniCredit Tiriac Bank and UniCredit Consumer Financing reached 3.333.

Results are presented based upon consolidated results for UniCredit Tiriac Group - which includes UniCredit Tiriac Bank as a parent company and subsidiaries UniCredit Consumer Financing IFN SA, UniCredit Leasing Romania SA, UniCredit Leasing Corporation IFN SA, ALLIB Leasing SRL, Debo Leasing IFN SA si UniCredit Insurance Broker SRL. Results according to IFRS and NBR regulation for credit institutions in Romania.


About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of UniCredit, leading European financial group with the largest CEE presence. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products for 580.000 clients. The bank strives to have a client centric policy, to be an easy to deal with partner and also an active part of the communities in which it operates. 
UniCredit Group is also present in Romania through Unicredit Tiriac Bank, UniCredit Consumer Financing (UCFIN), UniCredit Leasing Corporation (UCLC), UniCredit Insurance Broker, Unicredit Leasing Fleet Management, Unicredit Leasing Romania, Allib ROM, Debo Leasing, UCTAM, Pioneer Asset Management si UniCredit Business Integrated Solutions (UBIS).

UniCredit Tiriac Bank to acquire the RBS Romania Corporate Banking business

05.08.2014

UniCredit Tiriac Bank S.A. ("UniCredit Tiriac Bank”) and The Royal Bank of Scotland plc, Edinburgh, Romania Branch ("RBS Romania”) have agreed the transfer of the Corporate business of RBS Romania to UniCredit Tiriac Bank.

The agreement refers to a total portfolio of aggregate assets of around EUR 260 million and corporate deposits of around EUR 315 million. RBS Romania's client portfolio consists of over 500 Mid Market and Large private Corporates, local and international, as well as public and financial institutions. RBS Romania staff will transfer to UniCredit Tiriac Bank, subject to consultation with the social partners. 

The transaction will be finalised after receipt of the necessary approval by the Competition Council. The transfer completion date is envisaged to be in the coming months. The financial terms and the conditions of the transaction are not to be disclosed. 

"This new portfolio acquisition represents another natural step for us, as UniCredit - leading European banking group - is committed to sustainable growth on the Romanian market. After the acquisition of the Retail and Royal Preferred Banking business from RBS Romania last year, the full integration of the Corporate portfolio is a very suitable choice, as both banks share common values of business excellence and customer centricity. Corporate represents a core business for us and this development perfectly fits our strategy in the medium and long-term, while at the same time consolidating our leading position in the market”, declared Răsvan Radu, CEO UniCredit Tiriac Bank and Country Chairman of UniCredit in Romania.

"We are glad that we are now in the position of announcing the transfer of our corporate business to UniCredit Tiriac Bank. We are confident that this will bring a lot of benefits and added value to our clients. The most important selection criteria that we used in choosing our partner to which to transfer our business, clients and people was the level of their product and service offering, as well as their commitment to the Romanian market. Our customers are very important to us and we would like to ensure them that UniCredit Tiriac Bank will take over and build on the relationship we have developed with them. Until the transfer completion date, we remain committed to providing each client with the same quality service as they are used to” said Henk Paardekooper, CEO of RBS Romania and Hub Executive of RBS Central and Eastern Europe

RBS Romania and UniCredit Tiriac Bank are committed to jointly ensure a smooth transition of customer accounts and banking products. All customers will be kept fully informed of the transfer process and its timing. There will be no change to the clients’ contractual conditions and to the technical details of their respective products and services. Once the transfer is completed, clients will benefit from both the existing base built by RBS and of the partner’s contribution that will result in an enhanced customer experience.


Notes for editors:

UniCredit Tiriac Bank is part of UniCredit, leading European bank with the largest presence in CEE. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products to all clients segments through 188 branches. The bank has a client centric policy and strives to be an easy to deal with partner and an active part of the communities in which it operates. 
UniCredit Group is also present in Romania through UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).

The Royal Bank of Scotland plc, Edinburgh, Romania Branch (RBS Romania) is part of the Royal Bank of Scotland Group plc. The bank has been present on the local market since 1995, being one of the first foreign banks to operate in Romania. More details about RBS Romania are available at www.rbs.ro.

Contact persons:

UniCredit Țiriac Bank
Elena Constantinescu - Media Relations
elena.constantinescu@unicredit.ro
Phone: +40 21 200 17 67
Mobile: +40 732 610 202

RBS Romania
Cristina Mihaila - Head of Communication&Marketing
cristina.mihaila@rbs.com 
Phone: +40 21 20 20 400
Mobile: +40 729 035 379

UniCredit and the UEFA Champions League: five years of successful partnership

26.05.2014

  • With the impending close of the 2013-14 season, UniCredit celebrates its fifth year of sponsoring the UEFA Champions League. The sponsorship continues to effectively promote UniCredit’s brand in Europe, delivering a return on comparable costs of more than 200%.
  • UniCredit’s cooperation with Panini, which began in November 2013, has provided the Group with a new means to leverage its sponsorship.
  • Next season, the UEFA Champions League Trophy Tour presented by UniCredit will bring the trophy to five European countries for the sixth consecutive year.

The historic match between Real Madrid CF and Club Atletico de Madrid at the Estadio da Luz marked the conclusion not just of another exciting UEFA Champions League season, but of the fifth successful sponsorship year of UniCredit, the Official Bank of the UEFA Champions League.

Sponsorship continues to burnish the UniCredit brand


According to the latest reports and market research, the sponsorship continues to deliver positive results for UniCredit. From season 2009-2010 until season 2012- 2013, UniCredit has generated almost 12 billion contacts and collected over 500,000 leads in total thanks to various UEFA Champions League promotions and activities. Across nearly all of UniCredit’s markets, the bank’s various entities and subsidiaries launched almost 250 UEFA Champions League-related campaigns and sold roughly 1.4 million related products after four seasons. To date, UniCredit has shared its excitement for the UEFA Champions League with over 46,000 of its guests at matches.

Marketing research validates investment

Market research shows that since the start of the engagement (November 2009 to May 2013) the sponsorship awareness of UniCredit brands across its network has doubled on an aided level and tripled on a spontaneous level. Across all 16 analyzed countries UniCredit brands have achieved an increase in aided brand awareness by 22% within the total catchment area (on spontaneous level by 43%) and by 29% among the UEFA Champions League viewers. During the same period the gap between the UEFA Champions League viewers and non-viewers also increased by 86% from 7 to 13 percentage points. The impact of the sponsorship on UniCredit’s brand image has been significant in almost all countries. On a group wide basis, the propensity to buy is driven primarily by the expectation of finding a leading bank that stays close to its customers and is fair and transparent in its dealings. People who are aware of its UEFA Champions League sponsorship tend to associate these image statements with UniCredit. The perception of UniCredit as being very or quite appealing is 64 percent higher among those who are aware of the sponsorship. This group also is 71 percent more likely to purchase UniCredit products.

UniCredit and Panini’s virtual sticker collection proves a hit in its first year

For the 2013-14 UEFA Champions League season, UniCredit and Panini, the sports memorabilia company, partnered to launch a collection of virtual stickers for fans to collect, trade and enjoy online in a variety of ways. The special website for the collection “unicredit.eu/champions/collection”, available in eight languages, invites enthusiasts to participate in an imaginative selection of sticker-related challenges. In season 2013-2014, this successful initiative attracted the participation of roughly 42,000 registered users and generated a rapid increase in Facebook fans as the season progressed. UniCredit and Panini look forward to continuing this innovative partnership for the coming 2014-15 UEFA Champions League season.

Welcoming the new season with the 2014 Trophy Tour

In September, for the sixth consecutive year, UniCredit will continue its tradition of taking the iconic UEFA Champions League trophy on a tour through Europe for the enjoyment of football fans across the continent. This year the UEFA Champions League Trophy Tour will open in Warsaw in mid-September before continuing to Bratislava, Vienna, Zagreb and Belgrade, where the program will conclude at the end of October. As in 2013, the trophy will be displayed on an official podium in front of a monumental backdrop that enables visitors to get a taste of the UEFA Champions League experience as they pose for pictures alongside the famous prize. Admission to the Trophy Tour is free, and the trophy is accompanied by a lively exhibition of UEFA Champions League-related content and interactive displays. In its first five years, the UEFA Champions League Trophy Tour presented by UniCredit visited 66 European cities in 14 countries. More than 500,000 fans have participated, taking more than 146,000 pictures with the iconic trophy. On average, over 514 million contacts were made by each tour. An average ROI of 399 percent was achieved by these tours from 2009 to 2013.

UniCredit Tiriac Bank presents Young Designers Exhibition within Romanian Design Week 2014

15.05.2014

Bucharest, 15 May - UniCredit Tiriac Bank supports Romanian product design, continuing the partnership with Romanian Design Week, an event that brings together the most important works by Romanian designers.

Within the central exhibition Romanian Design Week (RDW 2014), which takes place between 16 and 25 May, at the Palace of the Chamber of Commerce in Bucharest (Ion Ghica 4), will also be presented some of the best diploma works belonging to students from universities across the country of Young Designers Exhibition.

The involvement of UniCredit Tiriac Bank in the authentic Romanian design area already becomes a tradition - we continue the partnership which began two years ago with BUCHAREST DESIGN CENTER and the one started in 2013 with the most important design event in Romania - Romanian Design Week. This year we have decided to support the exhibition of young designers, because they are the ones who a few years later will bring Romanian design ahead, positioning Romania on the international product design map”, declared Anca Nuta, Head of Identity and Communication, UniCredit Tiriac Bank.

Young Designers Exhibition reunites over 90 works and is organized in partnership with major universities and colleges of art and architecture from Bucharest and across the country:

BUCHAREST:
"Ion Mincu" University of Architecture 
"Ion Mincu" University of Interior Architecture: Interior Architecture and Product Design 
Univeristy of Decorative Arts and Design - UNARTE: Design (Ambient + Product Design) and Fashion 
“Spiru Haret” University of Architecture

ARAD
Faculty of Design - „Aurel Vlaicu” University

CLUJ
University of Decorative Arts and Design at the University of Art and Design - Departments: Fashion and Design 

IASI
University of Visual Arts and Design - "George Enescu" University of Arts 
"GM Cantacuzino" University of Architecture - "Gheorghe Asachi" Technical University 

TIMISOARA
University of Architecture - Polytechnic University

The works from Young Designers Exhibiton can be seen in Cluj-Napoca (June), Timisoara (September) and Iasi (October), in branches of UniCredit Tiriac Bank.


About UniCredit Tiriac Bank
UniCredit Tiriac Bank is a leading European bank, whose activities place a particular emphasis on the visual arts, at the same time covering the areas of music and literature, in the spirit of UniCredit Group’s tradition. The bank financially supports the first center of independent art and culture, open under the name PAVILION, being also a strategic partner of the Biennial of Contemporary Art Bucharest. The cultural-artistic component of ethics and responsibility of the bank are focused on the involvement in long-term projects, which are financed as a principal partner - for instance, George Enescu International Competition and Sibiu International Theatre Festival.

www.unicredittiriac.ro
www.facebook/UniCreditTiriacBank
www.instagram/unicredittiriacbank

About Romanian Design Week
Romanian Design Week is a celebration of local design and the most important objectives of this event are: promoting design, the interaction of specialists from different branches of design, attracting the widest possible audience from the areas that it aims to cover, but also generating the proper context for the development of these disciplines in Romania.
A project of The Institute, Romanian Design Week is an annual event that promotes contemporary Romanian design as a tool which can contribute to social, economic and cultural progress.
It is the first project entirely dedicated to Romanian design, which addresses both the public and professionals. Each year, Romanian Design Week traces a map of events and spaces that promote design. In 2014, RDW will take place between 16-25 May.
Romanian Design Week is an event Inspired by Peroni Italy.

www.romaniandesignweek.com
www.facebook.com/romaniandesignweek

UniCredit Tiriac Bank records a net profit of RON 72.1 million in T1, up by 18%

12.05.2014

  • Return on equity (ROE): 10%
  • Return on assets (ROA): 1.1%
  • Solvency ratio: 14.12%

12 May 2014 - The consolidated net profit after minority interest of UniCredit Tiriac Bank and UniCredit Consumer Financing increased by 18% in the first quarter of 2014 to 72.1 million Lei (16.0 million Euros).

Operational revenues reached 375 million (+0.5% compared to the first quarter of last year), supported by a 9% increase in net fees income and the positive evolution of income from trading. Operating expenses were at 178 million lei, up by 4%, which led to an operating profit of 197 million lei, decreasing by 2.5%. Credit risk provisions have decreased by 11% to 112 million Lei.

Financial indicators calculated after minorities reflect a positive evolution in the first quarter: return on equity (ROE) reached 10.0%, while return on assets (ROA) stood at 1.1%. The Cost/Income ratio was 47.4%, decreasing by 1.3 percentage points compared to the end of 2013. Provision coverage rate of balance sheet credits has increased compared to the end of 2013, reaching 10.7%.

The volume of assets was 25.9 billion Lei (5.8 billion Euros) at 31st March 2014. Credit portfolio shrank by 2.5% compared to the end of 2013, to 18.3 billion Lei (20.4 billion Lei, including externalized credits), influenced by the weakcredit demand in the market.

The income generated by credit facilities dedicated to projects with non-refundable financing (European and national) increased by 50% in the first quarter of 2014 compared to the value recorded in the same period in 2013 (from 1.7 million lei in the first three months of the previous year, to 2.6 million in the first quarter of 2014), considering that the use of credit volume has increased (up to 330 million lei from 276 million Lei). 

Deposits from customers were at 13.6 billion Lei at the end of March 2014. Ratio between credits and deposits was 135%. The bank is well above the limits imposed by Basel III, both in terms of capital adequacy ratio (14.12%) and the TIER 1 (13.5% versus 4.5% level requirements).

UniCredit Tiriac Bank ended the first quarter with a total of 188 branches, while the number of employees for UniCredit Tiriac Bank and UniCredit Consumer Financing reached 3,116. 

"The context of the market remains difficult for the private sector, given the fact that positive developments shown by statistics are not reflected yet in a similar manner in the business’ activities and household budgets. Although it remains at a modest level, we expect a slight increase in loans appetite in the time ahead. For the rest of 2014, good news could come from European funds and large infrastructure projects," said Rasvan Radu, CEO of UniCredit Tiriac Bank.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit Group, leading European bank. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products for 600.000 active clients, through 188 branches. The bank aims client centricity policy, to be an easy to deal with partner and also an active part of the communities in which it operates. 
UniCredit Group is also present in Romania through UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).

UniCredit Tiriac Bank is the only bank in Romania certified Top Employers Europe 2014

25.04.2014

25 April 2014 - UniCredit Tiriac Bank has received the Top Employers Europe certificate for the third consecutive year, which ranks the bank among employers with the highest standards and practices of human resources management in Europe.

The international research conducted annually by Top Employers Institute recognizes the merits of top employers from around the world due to the conditions offered to employees, developing talents at all levels of the organization and continuously improving recruitment practices. UniCredit Tiriac Bank is one of the few companies that have been awarded the exclusive certification in 2014, along with other UniCredit subsidiaries.

In order to receive the Top Employer 2014 award, the companies have to be certified in at least 5 European countries. The independent research has validated UniCredit Tiriac Bank as a part of the select group of certified employers.

UniCredit Tiriac Bank has undergone research and audit, in which the following were evaluated: corporate culture, career opportunities, training and development, work conditions, basic benefits and secondary benefits package.

Top Employers methodology for selection is based on three evaluation levels: an extensive research based on factual information, interviews with companies’ representatives and a comparative evaluation of participating companies. The methodology is certified by the Ministry of Economy, Trade and Business Environment in the Netherlands, the research being audited by Grant Thornton, one of the largest audit companies in the world.

Alina Dragan, Human Resources Executive Vice-president, UniCredit Tiriac Bank: "We are an organization oriented towards innovation and maintaining a dynamic and efficient working environment. Top Employers certification, received for the third consecutive year, confirms the commitment that we have for the development of our employees and organizational culture as a whole."

Johann Labuschagne, Top Employers Institute Director: "Our thorough researches have confirmed that UniCredit Tiriac Bank is part of a small group of top employers that raise working standards worldwide and have the best practices for employees."


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit group, top European bank. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products for 600.000 active clients, through 188 branches. The bank aims client centricity policy, be an easy to deal with partner and also an active part of the communities in which it operates. 
UniCredit Group is also present in Romania through its partners: UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).

UniCredit Tiriac Bank introduces a new communication platform - Restart Romania

14.04.2014

April 14th 2014 UniCredit Tiriac Bank and UniCredit Consumer Financing launch a new campaign endorsing the "Personal accomplishments loan", part of the bank’s new communication campaign: "Restart Romania". 

This is the first integrated campaign for the Retail segment communicated under the new platform and it was developped together with McCann Erickson Romania.

The campaign was launched on April 10th 2014, the first execution being a Manifesto TV commercial, followed by two tactical commercials which points to the product promise, which UniCredit Tiriac Bank and UniCredit Consumer Financing bring forth in order to support the message. 

Creative idea
 
UniCredit Tiriac Bank and UniCredit Consumer Financing, together with McCann Erickson Romania advertising agency, took upon themselves to redefine the perception on financing personal projects by means of "personal needs loans", in accordance with the actual developments of the economy. 

During the last 5 years, due to the financial crisis, most Romanian focused on covering basic needs, daily necessities and they postponed future personal projects and any other investments that would have brought them joy and a feeling of accomplishment. 

"We believe that, today, both the financial market and the consumers are more mature and better adapted to the new reality. We trust that we can offer our clients convenient financing, which can help them prosper or fulfill their wishes without future endanger of their families’ budget stability", said Gauthier van Weddingen, CEO of UniCredit Consumer Financing.

The campaigned will be communicated on TV and online, between April 10th - May 25th 2014. 

"We encourage people to resume the projects which maybe they gave up five years ago. To have the courage to dream again and to believe in realistic aspirations, which can bring them future benefits. We believe that it is time to talk once again about accomplishments and fulfilled wishes. To look beyond everyday needs and worries. To concentrate on putting in practice projects for the future. That is why the “personal needs loan" becomes the “personal accomplishments loan". Economic data have begun to show signs of recovery. We do not claim that it is a simple thing to do, but we believe that it is time to set things on much healthier bases. Despite the challenges we all are familiar with, we believe that together we can inspire positive change. We can Restart Romania. This is the bank’s new communication platform and the umbrella under which we will communicate future retail campaign", concluded  Anca Nuta, Identity&Communication Director, UniCredit Tiriac Bank

The Personal Accomplishments Loan without Mortaage from has a DAE starting at 10,5% and it can be contracted for a maximum period of 5 years. The contracted amount cannot exceed 90.000  RON.

For a Refinance Loan without Mortage totally amounting 45.000 RON for 24 monts: anual variable interest is 10,00% (3M ROBOR + 6,92%), analyze fee  0 RON, monthly administration fee 0 RON, interest rate 2.076,5 RON (for equal repayments, the value of the optional life insurabce not being taken into account), total repayment value 49 836,5 RON, DAE 10,5%. 

Among benefits:

- Analyze fee and monthly administration fee - 0 
- Clients can opt for a  optional life insurance package with complex coverage: death by any means, invalidity, temporar work incapacity of unemployment (as per the clauses included in the contact) 
- Fast approval
- Accessible minimum income. E.g., 450 RON for a loan amounting a maximum 17.500 RON
-  A large array of income is taken into consideration: wages; income obtained by sailors, rent, copyright, dividends, allowances, etc

The McCann Erickson Romania which contributed to the campaign is made up of: Creative Partner - Adrian Botan, Creative Director -Andres Vergara, Head of Strategy - Diana Ceausu, Client Service Director - Dana Hogea, Copywriter - Cristina Calota, Copywriter -Catalin Stanciu, Art Director - Ionut Coanda, Strategic Planner - Ileana Serban Parau, Senior Account Manager - Laura Aldea, Account Executive - Loredana Ulceluse, Chief Growth Officer - Beatrice Iftimi, Head of AV Production - Tiberiu Munteanu, AV Producer -Alexandru Platon.

The UniCredit Tiriac Bank: Identity&Communication Director - Anca Nuta, Team Leader Marketing Retail - Raluca Clej, Marketing Officer - Anca Popa. For UniCredit Consumer Financing: Head of Marketing & Product Development - Raluca Zamfirache, Marketing Officer -Laura Maxim

The TV commercial was produced with the help of MITRA FilmABIS Film post-production studio,  directed by Anton Groves and withMichael Brierley as DOP. The narration is made by Irina Pacurariu, TV anchor.

UniCredit Tiriac Bank registered in 2013 a slight increase in factoring volumes, despite the profile market overall decrease

09.04.2014

9 April 2014 - The volume of factoring operations conducted by UniCredit Tiriac Bank in 2013 reached 812 million Euros, an increase of approximately 2% compared to the previous year, in the context in which, as the Romanian Factoring Association has announced, the specific local market registered, during the same period, a decrease of 6%, reaching a level of 2,71 billion Euros. The direct consequence of the higher performance compared to the market was the increase of UniCredit Tiriac Bank market share in this segment to 30%.

"We believe our performance to be even more important, given the economic context, namely the 10% increase of the number of companies which became insolvent, the attempts of fraud which also increased, as well as the legislative changes, the UniCredit Tiriac Bank risk policy continued to be prudent and of risk dissipation. We have focused on securing documentary transactions, on the maintenance of those providers with a proper discipline in business administration and with a varied client portfolio, so that, even though the client portfolio was reduced to approximately 300, the volume of claims and of trade relations (over 1000) have remained at the same level, with a slight tendency of increasing", has explained Alecsandra Valasuteanu, Head of Factoring UniCredit Tiriac Bank.

The bank’s factoring services continued to be available for companies of any size and regardless of the industry.  A special attention was also given last year to the companies with a turnover of less than 5 million Euros, the factoring volumes achieved by them with UniCredit Tiriac Bank increasing by 21% in 2013. 

The industry with the largest share - 31,22% of managed claims - continued to be in 2013 the industry of constructions, followed by auto & equipment (13,92%), agriculture & food industry (12,57%) and transport (10,16%). 

A premiere on the Romanian financial market, the first factoring syndication, from which Sensiblu benefited, part of A&D Pharma group, worth 100 million Euros, coordinated by UniCredit Tiriac Bank, contributed to the increase of the pharmaceutical industry to the factoring turnover.

The bank continued to support trade flows and domestic investment projects, representing 69,82% of the total managed claims, however remaining just as active in the support of international transactions. As a confirmation of the full member of Factors Chains International (FCI) status, acquired in 2012, the members of the factoring team were selected last year in order to be part of the Committee of Communication and of FCI Ambassadors Group, and the factoring turnover reached 127 million Euros, increasing by 65% compared to 2012.

"In terms of strategy and our expectations for 2014, factoring remains a priority product for UniCredit Tiriac Bank, both in risk management related to the funding the bank will grant companies and related services (collecting, insurance of non-payment risk and claims administration), which we consider to be extremely important for companies in the efficient business administration. What concerns us is the legislation. Law 72/2013, whose purpose is combating late payment from both professionals and especially public institutions, setting the maximum term of payment did not have a significant impact, delays are maintained, penalties are not collected. The Government Ordinance Proposal is likely to have a strong negative impact for amending and completing Government Emergency Ordinance no. 84/2003 for the establishment of the National Company of Motorways and National Roads in Romania - S.A. (C.N.A.D.N.R.), proposal which has been sent by the Government and Parliament Committees Senate in order to be analyzed, the Senate already adopting it. Through the two main elements which have been introduced, namely general entrepreneur’s obligation to mortgage his claims towards C.N.A.D.N.R. in favor of subcontractors and the obligation to pay its subcontractors throughout cashing from C.N.A.D.N.R., the new law is likely to significantly limit funding opportunities based on claims of both the entrepreneurs and the subcontractors. Considering the fact that the construction area represents the most important segment supported by the factoring industry (35% in the market), we can also expect a decrease of the factoring market in 2014" concluded Alecsandra Valasuteanu, Head of Factoring UniCredit Tiriac Bank.


About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of UniCredit Group, leading European bank. In Romania, UniCredit Tiriac Bank is one of the leading financial institutions, offering high quality products and services for the approximately 600,000 active customers through 188 branches. The bank aims to maintain a client centricity policy, to be an easy to deal with partner and also to be an active part of the communities in which it operates.

UniCredit Group is also present in Romania through its partners: UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).    

UniCredit Tiriac Bank joins Earth Hour

28.03.2014

More than 70 Group buildings in Europe will turn off lights on Saturday, 29 March

UniCredit Tiriac Bank will turn off the lights in 1F Exposition Boulevard headquarters in Bucharest on Saturday, March 29, between 20:30 and 21:30, during Earth Hour. UniCredit Leasing Corporation and UniCredit Consumer Financing, located on Str. Ghetarilor, Nr. 23-25, Sector 1, will also join this initiative.

The Romanian bank participates together with many other entities of UniCredit Group, which turn off the lights in over 70 buildings in Europe for Earth Hour. UniCredit takes part for the seventh consecutive year in this global campaign in order to raise awareness of climate change.

UniCredit’s continued support for the campaign, which is organized by the WWF, emphasizes the Group’s steady efforts to address conservation of the environment and support sustainable development. As part of these efforts, UniCredit aims to reduce its carbon emissions by 30% by 2020.

This year, the lights in UniCredit’s most prominent buildings will be turned off for one hour in 10 countries: Italy, Austria, Bosnia and Herzegovina, Bulgaria, the Czech Republic, Hungary, Romania, Russia, Ukraine and Serbia. This gesture is intended to increase awareness of the human contribution to global climate change and to encourage people to make a more consistent daily effort to conserve natural resources for future generations.

As part of the 2014 activities, the new UniCredit Tower will also join Earth Hour. The bank’s new headquarters in Milan is the tallest building in Italy and has received numerous certificates and awards for the attention it has been given to energy efficiency in the way it was designed and built.

Net consolidated profit of UniCredit Tiriac Bank reached eur 19.8 million in 2013

11.03.2014

  • In 2013, continued to have a growth strategy in Romania, with a profitability above the banking system, solid liquidity, comfortable solvency ratio and an improvement in efficiency
  • Consolidated net operational profit reached RON 766 million, with revenues increasing significantly to RON 1.5 billion. Impairment losses with loans reached RON 744 million, which determined a net consolidated profit of RON 87.7 million. On stand alone, UniCredit Tiriac Bank posted a net profit of RON 75.1 million.
  • The loan portfolio reached approx RON 18.8 million, sustained by growth in SME and private individuals
  • Results represent the consolidated report for UniCredit Tiriac Bank and UniCredit Consumer Financing


UniCredit Tiriac Bank's net consolidated profit was RON 87.7 million (EUR 19.8 million) in 2013, indicating a good financial evolution.


Operational revenues were RON 1.5 billion (EUR 337.8 million) at the end of 2013. Operational expenditures were RON 727 (EUR 164.5 million) and operational profit at RON 765.5 million (EUR 173.2 million). Loan impairment stood at RON 744 million (EUR 168.3 million).

Financial indicators reveal a balanced position, above the system average: ROE is at 3.1%, while ROA was 0.3%. The constant concern for an efficient cost control is reflected by the cost to income ratio of 48.7% in December 2013. Cost of risk in 2013 stood at 4.4%, while the non-performing loans were 11,08%. Provision coverage is at 10.15%, covering potential and calculable risks.

Assets were at a total of RON 28.5 billion (EUR6.4 billion) and loan portfolio reached RON 18.8 billion (RON 21 billion including externalized loans), supported by the increase of 10.6% in SME loans, 18.4% in mortgage and 3% in mid-market companies.

Customer deposits reached a total volume of RON 15.1 billion and the evolution was supported by 13.8 % volume growth in the SME in the last year , respectively 18.5 % for medium-sized companies and 36.7 % for individuals in the same interval. The volume of external financing attracted from the Group and the International Financial Institutions increased by about 9% in 2013, to EUR 1.9 billion.

The ratio between loans and deposits stood at 124%, with a comfortable level of liquidity.

UniCredit Tiriac Bank ended 2013 with a constant number of branches (188), while the total number of employees and UniCredit Consumer Financing reached 3,169. Optimal profitability per branch and organizational efficiency continued to be priorities.

In early January 2013, the Bank acquired a majority stake of UniCredit Consumer Financing, while keeping the 20% package of UniCredit Leasing Corporation. 

Reorganization project of the leasing activity at the local level, which was planned to transfer control of the majority of leasing entities in Romania from Holding to UniCredit Tiriac Bank, was approved in early 2014. The entities controlled either directly or indirectly are to be included consolidated in 2014.

"The year 2013 was full of notable events for UniCredit Tiriac Bank, like the issuance of bonds and the acquisition and successful completion of the RBS transfer. UniCredit kept a strategy of sustainable growth in all main segments of activity. Regarding the economic environment in Romania, we expect slower GDP growth in 2014 compared to 2013, with the lending activity still limited and profitability of the banking system still under pressure. Despite the challenging economic circumstances for the banking system, UniCredit Tiriac Bank remains committed to the market in Romania and to a strategy of development, "said Rasvan Radu, CEO of UniCredit Tiriac Bank.

On a standalone basis, UniCredit Tiriac Bank posted total operating income of RON 1.384 billion (EUR 313.2 million), up 10.8% from last year. Operating expenses increased by 8.7 % to RON 689.1 million (EUR 155.9 million) and operating profit stood at RON 694.7 million (EUR 157.2 million), up 13% from the previous year. Net profit reached RON 75.1 million, decreasing compared to 2012. Cost to income improved , decreasing by about one percentage point to 49.8%, significantly below the estimated value of the indicator for the banking system of 56.7%. 

Total assets of the bank were RON 27.5 billion (EUR 6.1 billion), up 9.6% compared to December 2012 and better than the decrease of about 1% of the banking system. The volume of loans reached RON 17.6 billion (EUR 3.9 billion), slightly up by 1.8 % compared to the end of last year and compared to a decrease of approximately 3.3 % for the banking system. Customer deposits amounted to RON 15.2 billion (EUR 3.4 billion) up 10% compared to last year and better than the increase of 9.3 % for the banking system. L/D had a favorable evolution, dropping 9 percentage points to 116% from 125% last year. Solvency ratio stood at 13.3 % at the end of 2013, not including profit of the interval, providing a solid foundation for the transition to Basel III standards.

UniCredit Tiriac Bank supports the project light for children from Inelet

13.02.2014

UniCredit Tiriac Bank supports the project initiated by the Free Miorita Association, Light for Inelet Children, being the first company that decided to financially support the project. After only three days from announcing the project online, on blogs and on Facebook, UniCredit Tiriac Bank has joined the cause with a grant of EUR 3,000 which covers the full cost of solar panels and ancillary systems, including computers and printer necessary for the educational process. Moreover, staff within the company will be invited to participate as volunteers for installing the solar panels. 

"We’ve decided to get involved in this initiative together with the Free Miorita Association friends because we believe that small gestures can lead to vital changes to some communities that rarely get noticed. Actually we would like this to be just the beginning in 2014 for a series of projects that would change the lives for the better in Romanian communities", said Anca Nuta, Identity & Communications Director, UniCredit Tiriac Bank.

"About a year ago we started the project Light for Ursici with the desire of helping a few people who are dear to me. I didn’t think then that Ursici would be the first settlement in Romania whose homes are lit by solar panels. I didn’t think that so many people would join us. But I knew that more light is needed in other communities as well, so I restarted the engines. I knew about the children form Inelet but Ionut Vlad from Trasee marcate, an online community of mountain lovers, was the catalyst of this project. What do we really what? To give these children a chance at normalcy. So that they will be able to read a book when it’s cloudy outside. To be able to write at the light of a bulb. To be able to learn how to use a computer. To be able to know the country and the world differently than from the books. I hope these things, once fulfilled, will make them want to stay in Romania. Maybe they’ll leave, as others have done it, or perhaps they will stay, even in Inelet. Anyway, we must try. And UniCredit Tiriac Bank stands by us once more and we thank it because we’ll change for the better the lives of these children", said Iulian Angheluta, President of Free Miorita Association.

Inelet is a village of Cerna Mountains. The houses are scattered and none of them has electricity. Moreover, the school is not connected to the electricity grid and the three children from Inelet, Luminita, Ionela and Nicu, have to walk daily for 2 hours to get to school. We want to help and give these children a chance at education and a better future. Light for Inelet children project consists in equipping the school with solar panels to provide light and power necessary for the 2 rooms and purchase desktop computers and a printer.

Anyone can support this project and the actions of Free Miorita Association by donating 2% (Forms 200 and 230) in the bank account RO71BACX0000000942462000 open at UniCredit Tirac Bank, Rosetti Bucharest Branch. Fiscal Registration Code 29953226. Information about Light for Inelet children project can be found at www.freemiorita.ro and on facebook.com/traseemarcate orfacebook.com/freemiorita.

Free Miorita is a non-governmental resistance movement and action against Mioritic fatalism. “Dacioti pana-n Mongolia” and “Light for Ursici” are two of the most important projects in progress.

Euromoney awarded UniCredit Tiriac Private Banking for the best services in Romania

10.02.2014

10 February 2014 -  UniCredit Tiriac Bank was appointed the financial institution with the best Private Banking services in Romania in theEuromoney Private Banking and Wealth Management Survey 2014

"Our investment approach is based on a disciplined aligned regionally process, which starts from understanding the financial objectives and risk tolerance of our clients in order to meet their requirements. Our customers’ opening to the investment solutions offered by us is the result of the education efforts, understanding the importance of financial planning on the medium – long term, the global diversification and based on developing a trusting relationship with the Bank. We are proud to be recognized for the quality of our services and we will continue to deliver the same standards, focusing on documented and transparent framework to help our clients in making optimal investment decisions", said Anca Eremia, CEO of UniCredit Private Banking.

UniCredit Private Banking currently serves over 3,000 clients, with total assets exceeding EUR 500 million. The range of products and services available to the clients is diverse, including classical saving solutions and fixed income instruments, investment funds and structured products.

Another differentiating element in the market is the presence of Global Investment Strategies team.

Through a process of allocation by asset class, customers have the opportunity to diversify their overall holdings in order to optimize their investments and identify products consistent with the objectives and risk profile.

UniCredit Private Banking has received another three awards at the Euromoney survey for different sub-categories, awarded to the divisions of the Czech Republic, Hungary and Italy.

UniCredit Private Banking provides a full range of services and products to over 260,000 customers in 14 European countries, with assets under management of over EUR 150 billion. In light of the experience and affiliation to UniCredit, European top bank, the investment specialists and consultants benefit from the independent perspective on the markets and exclusive products.

Euromoney annual awards for Private Banking are the most prestigious awards in the management of financial assets, being designated based both on figures supplied by the entities analyzed, and the professionals’ vote from this industry. The survey covers over 35 categories of products and services at global and regional levels and nearly 100 countries.

Press release on interest payment no 1 for bonds issued by UniCredit Tiriac Bank S.A.

16.12.2013

UniCredit Tiriac Bank S.A. announces the payment of the first accrued interest on bonds issued by the Bank under the UCT18 symbol according to the Issuance Prospectus approved by the Financial Supervision Authority by Decision no. A/110/13 June 2013.

The payment shall be made by UniCredit Tiriac Bank S.A. - payment agent - on 16 December 2013 to UniCredit Tiriac Bank S.A. bond holders registered in the Register of Bondholders maintained by Depozitarul Central S.A. on the reference date 25 November 2013.

The interest will be calculated in accordance with paragraph 7 - Interest in Chapter Terms and Conditions of the Bonds from the Issuance Prospectus.

The bonds interest rate is fixed of 6.35 % per year. The interest is calculated based on the actual number of days in the relevant interest period and the number of days in that respective year. The payment will be made by transfer to the RON bank accounts designated by the UCT18 bondholders registered in the Register of Bondholders.

The Issuance Prospectus and detailed information about the bond issue can be found on the Bank’s website:

http://unicredit-tiriac.ro//info/investitori/documente-aferente-oferta/

First Home from UniCredit Tiriac Bank

18.11.2013

14 November 2013 -  UniCredit Tiriac Bank relaunches the First Home loan, the product being available starting early November in all Bank’s branches as a RON facility with a nominal interest rate of 5.78% per year, consisting of Robor at 3 months + fixed margin 2.5 percentage points.

The ceiling approved at this stage by the National Credit Guarantee Fund for SMEs (FNGCIMM) is valid until the end of 2013.

"We are resuming the loans granting through the First Home program as we are aware of our customers’ need to access mortgage loans at more profitable interest and an advance as small as possible. For the mortgage loan category we have a broader strategy, customer-need oriented, our offer is completed with very favorable standard financing products. Moreover, we have recently reduced the interest rates on mortgages in RON, thus facilitating their accessing", said Petrisor Costin, Products & Segments Retail Division Manager, UniCredit Tiriac Bank.

UniCredit Tiriac Bank facilitates the monthly management fee payment to the National Credit Guarantee Fund for SMEs (FNGCIMM) of 0.02% applied to the loan balance.


What are the advantages of First Home loans in RON?
- They involve an advance of only 5% of the property’s value to be acquired;
- No analysis commission;
- They allow higher indebtedness compared to foreign currency loans;
- Customers will not be affected by exchange rate fluctuation.

In 9M 2013, UniCredit Tiriac Bank records a consolidated net profit of RON 206mn - eur 46.8mn

12.11.2013

  • On stand alone basis, net profit was RON 213.6 mn, up 47.6%. Consolidated net profit was RON 206.1mn (EUR 46.8mn) 
  • Loan portfolio over RON 19 bn; the Bank has actively financed all economic areas, with a focus on SME and Corporate
  • Successful completion of the transfer of Retail and Royal Preferred banking business of RBS to UniCredit Tiriac Bank S.A. and UniCredit Consumer Financing IFN S.A
  • 6.5% quarter-on-quarter growth in loans to customers; 7.5% quarter-on-quarter growth in deposits


12 November 2013 - In 9M 2013 UniCredit Tiriac Bank reports RON 206.1mn (EUR 46.8mn) consolidated net profit after minority interest, proving strong performance and efficiently absorbing the effect of RBS business integration. The results are reflected in solid financial indicators: annualised Return-on-equity is 9.2%, Return-on-assets is 1.0%, Cost-to-income ratio is 47.3%. Annualised Cost-of-risk for the period is 287bp, while Non-performing-loans ratio is 10.78%. Provision coverage of on-balance sheet loan portfolio is 8.6% comfortably running all identified and estimated risks.

Consolidated revenues were RON 1.101,7mn (EUR 249,9mn) for the reported period. Operational expenses were RON 520,9mn (EUR 118,2mn), thus gross operating profit reached RON 580,9mn (EUR 131,8mn). Net impairment on loans reached RON 432mn (EUR 98.1mn).

UniCredit Tiriac Bank records a strong and balanced financial position. Consolidated balance sheet reached RON 26,55bn (EUR 5,9bn) at the end of September 2013, up 5.6% quarter-on-quarter. Outstanding on-balance sheet loan portfolio is RON 19,2bn (RON 21,6bn including externalised loans), up 6.5% versus June 2013, with continuous focus on small business (20% up year-on-year) and mid-size companies (3% up year-on-year). Customer deposits reached RON 13,6bn, supported by a year-on-year growth of 20% in small business, 31% in mid-size corporate portfolio and 38% in private individuals. 

The UniCredit Group ended the reported period with 188 branches and 3,156 employees focusing on profitability on branch level and organisational efficiency. 

At the beginning of January 2013, the Bank acquired the majority shareholding in UniCredit Consumer Financing, while still keeping 20% shareholding in UniCredit Leasing Corporation. The consolidated figures for the Group (consisting of UniCredit Tiriac Bank SA and UniCredit Consumer Financing IFN SA) are available starting with the date when the control over UCFin was obtained*. 

"Although the Romanian economy is set to expand in 2013, outpacing its CEE peers, growth is accelerated by temporary factors that are expected to drop in 2014, when a GDP slowdown is anticipated. Private consumption is recovering at a slower pace, while the lending is lagging behind with non-performing loans continuing to weigh on the loan portfolio of the banks. In this challenging economic environment, UCT firmly sustains the revival of the Romanian business environment, with focus on SME’s and mid-size companies, while RBS portfolio acquisition improved our position on retail segment. Smooth integration of the new customers, lending boost, risk management, collection and work-out are our priorities for the future" said Rasvan Radu, CEO.



* On a stand alone basis, total revenues were RON 1.029,2 mn up 13.6% year-on-year, operational expenses increased by 4.5% to RON 492,5mn, and leading to a gross operating profit of RON 536,7mn up 23.4% year-on-year. Net profit for the period was RON 213,6mn (EUR 48,5mn) up 47.6% versus 9M 2012. Cost-to-income ratio is 47.9% down versus the similar period of last year by 4.2pp. Total balance sheet of the Bank is RON 25,5mn (up 1.8% year-to-date). Gross Loans are up by 4.2% year-to-date at 18,0bn while deposits reached 13,7bn. Loan-to-deposit ratio is 132% down by 9pp year-on-year (or 14pp including the corporate bonds issued) when it was 141%. The Bank maintains a solid capital adequacy level of 12.59% at the end of the period providing good grounds for the upcoming shift to Basel III standards and continues the strategy for diversification of funding base.

UniCredit Tiriac Bank has been designated the Best Cash Management Bank of Romania in the 2013 Euromoney Cash Management Survey

06.11.2013

6 November 2013 - The customers’ votes, awarded under the 2013 Cash Management Survey conducted by the prestigious Euromoney magazine, have designated UniCredit Tiriac Bank as the Best Cash Management Bank in Romania.

The same survey revealed that UniCredit is the number one provider of Cash Management in Bosnia and Herzegovina, Croatia, Czech Republic, Poland, Serbia, Slovenia and Austria.

In the remaining countries of Central and Eastern Europe, UniCredit is in the top three of the best Cash Management Bank, which is the best result so far in the survey conducted annually.

Moreover, the aggregate result for Central and Eastern Europe ranks UniCredit on the second place, respectively in the top seven Cash Management suppliers of products and services globally and in Western Europe.

Euromoney Cash Management Survey is organized annually by the prestigious Euromoney magazine and this year the number of respondents increased by 18% (24.442 votes).

Respondents to the survey are generally people holding leadership positions in companies, in areas such as treasury, accounting, financial planning etc.

UniCredit Tiriac Bank reduces the annual interest rate with up to 2.31% for the guaranteed loans in lei

23.10.2013

23rd of October 2013 - To support the clients who want to access loans in the local currency in order to protect themselves against the exchange rate risk, starting from October, UniCredit Tiriac Bank reduced the interest rates for all the guaranteed loans facilities for mortgage that are given in lei by up to 2.31%.

"The loans in lei bring to the client a few very important advantages: they assume a smaller prepayment fee for those who get their income in the local currency, the allow a bigger degree of indebtedness compared to the loans in other currencies and they bring stability to the client budgets compared to the ones that are in a different currency. Considering these benefits for our clients and the rising demand for loans in RON, we reduced the interest rates to support those who want to access them", was declared by Petrisor Costin, the UniCredit Tiriac Bank Products and Retail Segments Manager.

Thus, the decrease of 2.31% in the interest rates is:

- Mortgage/Real estate loan for acquiring residence - variable interest for the entire crediting period:
    - The interest decreased from 7.28% to 5.77% (Robor 3M +2.49%)
- Mortgage/Real estate loan for acquiring residence - fixed interest rate in the first three years, and starting with year four, variable interest:
    - The fixed interest rate was reduced from 8.3% to 6.53%. The variable interest starting with year four is 7.28% (Robor 3M + 4%)
- Loan for preparations/modernizing/developments - variable interest for the entire crediting period
    - The interest rate decreased from 8.28% to 6.65% (Robor 3M +3.37%)
- Loan for preparations/modernizing/developments - fixed interest rate in the first three years, and starting with year four, variable interest:
    - The fixed interest rate was reduced from 8.7% to 6.39%. The variable interest starting with year four is 8.28% (Robor 3M + 5%)
- The Umbrella loan for refinancing - variable interest for the entire crediting period
    -The interest rate decreased from 8.28% to 6.65% (Robor 3M +3.37%)
- The Umbrella loan for refinancing - fixed interest rate in the first three years, and starting with year four, variable interest
    -The fixed interest rate was reduced from 8.7% to 6.39%. The variable interest starting with year four is 8.28% (Robor 3M + 5%)

Through these products, UniCredit Tiriac Bank addresses the clients who want a guaranteed mortgage loan:
- in the same currency as their salary;
- those who don't want to be affected by the exchange rate fluctuations;
- who want an advantageous interest rate.

The main eligibility criteria: 
- Minimum age: 20 years old/ 25 years old for navigators
- Maximum age: 70 years old/65 years old for brevetted navigators and 60 years old for unbrevetted navigators (the age until the credit needs to be completely reimbursed)
- Minimum monthly income by family 1.000 RON (250 Euros for navigators)
- A large range of incomes is accepted: from wages, pensions, rents, management contracts, PFA activities, incomes from abroad, copyrights, annuities. 
- Up to two debtors are accepted. 

Other loan costs:
a) The monthly administration commission: 0.05% applied to the loan balance
b) The analysis commission: 1.290 RON for the mortgage/real estate loans and 1.720 RON for the preparations/modernizing/developments and refinancing loans. 

Related costs: evaluation, notary, AEGRM entry, life insurance, property insurance. 

The legal opinion is paid by UniCredit Tiriac Bank.

UniCredit Tiriac Bank will have a new Global Markets & Treasury director

21.10.2013

15th October 2013 - Alexandra Ioana Dobrica will be the new Global Markets & Treasury Director within the UniCredit Tiriac Bank, after she was for 3 years the Head of Corporate Treasury Sales in the same department. 

Alexandra will replace Dorin Alexandru Badea, who is ending his activity within the UniCredit Tiriac Bank after almost 5 years in the Global Markets & Treasury Department, following new challenges in the professional life. 

Alexandra Ioana Dobrica works for UniCredit Tiriac Bank since 2007, making her way up professionally. She successively occupied the Head of Key Accounts - Treasury Sales and Head of Corporate Treasury Sales functions, having really good results with the teams she coordinated. 

She's got over 10 years of experience in the Financial Markets, her debut being in the ING Bank Romania Treasury. She received various certifications along the years, including the broker certification on the Bucharest Stock Exchange and she is an active member of the Financial Markets Association since 2007. 

Within UniCredit Tiriac Bank, Alexandra Dobrica contributed to the development of treasury products offered to companies, involving the management of financial risks for all the active classes, she put the bases of the electronic trading treasury system, offering transparence to the clients, mobility and efficiency, contributing to the raise of the degree of penetration for the treasury products for all the client segments, helping to diversify the investment solutions for clients. 

Alexandra Dobrica follows to be confirmed in her new position by BNR.

NEPI refinances Lakeview through a 5 year loan from UniCredit Tiriac Bank

14.10.2013

14th October 2013 - An investment fund of 30 million Euros was granted by UniCredit Tiriac Bank to the NEPI investment fund, for the refinance of the office building Lakeview. 

The financing has a maturity of 5 years. 

UniCredit Tiriac Bank took a cautious approach, but active for the financing of the real estate sector, which fits into the global strategy of the bank, with focus on the quality projects and the companies with a good payment history and behavior. 

ON this segment, the bank received numerous distinctions throughout the last years, the most recent one being the Bank of the Year - 2012 award from Europa Property at the Real Estate Awards.

The office building Lakeview was finalized in 2010 and bought by NEPI at the begining of the year 2013. Localized on the Barbu Vacarescu Boulevard, the building has a surface of over 25.000 sqm, with a degree of occupancy of 100%. Among the building tenants is PricewaterhouseCoopers, Huawei, Colgate-Palmolive, Royal Bank of Scotland.

UniCredit Tiriac Bank has a traditional and fruitful collaboration with NEPI, the bank financing a few more of their projects from the investment fund, among them being the Pitesti Retail Park and logistic facilities in Otopeni and Rasnov.

Banking premiere in Romania: UniCredit Tiriac Bank and the Commercial Romanian Bank gave the first billing facility type club

25.09.2013

Bucharest, 25th September 2013 - BCR and UniCredit Tiriac Bank grant the first billing facility type club from Romania. The 100 million Euros quantum facility was obtained by Sensiblu, member of the A&D Pharma pharmaceutics group, for cashing in advance, established through a no regress factoring mechanism, of the receivables held by this company in affiliation with the National Health Insurance House and the County Health Insurance Houses of Romania. UniCredit Tiriac Bank was main coordinator and factoring financing agent. 

The type club factoring financing is important for Sensiblu, part of the A&D Pharma group, both from financing sources diversification and the optimizing of the classic financing structure, that were used up until present. The base characteristic of this financing solution is the direct liquidation of the owned assets - a solution much more appropriate for financing a company from the pharmaceutical industry.

Thus, the implemented facility is financed equally by BCR and UniCredit Tiriac Bank and it's a way of supporting the Romanian health system through the receivables clearance on the National and County Houses of Health Insurance.
BCR, BRD Groupe Societe Generale and UniCredit Tiriac Bank granted A&D Pharma a club type syndicated loan worth 190 million Euros, for refinancing the general support needs for core activities, as well as the ones for developing the group.  This transaction is the most important one for the pharmaceutical sector in 2013.

Parallel with the factoring type facility and closely related to it, the A&D Pharma Group concluded a type club increased refinancing transaction worth up to 190 million Euros. Its aim was to refinance the general support needs for core activities, as well as the ones developed for the group and it's the most important transaction of this type made on the Romanian pharmaceutical market in 2013. BCR, BRD Groupe Societe Generale and UniCredit Tiriac Bank equally took part in the finance, being the Main Mandated Arrangers, with UniCredit Tiriac Bank as an insurance agent and UniCredit Bank AG - London Branch as the facility agent. BCR was the coordinator for the entire refinancing transaction.

The light was lit at Ursici

23.09.2013

Light for Ursici, the project imitated by the Free Miorita Association and supported by UniCredit Tiriac Bank, was brought to an end. Free Miorita's plan was to bring light in the houses of the people from Ursici, and right now the old Village from Hunedoara is the only one from Romania that is lit with solar panels. 

After years of waiting for the village to receive electrical power, in just 9 days, 24 volunteers from around the country installed 14 solar panels, 70 led light bulbs, 14 inverters and they pulled 1000m of cable so that the middle ages village enjoy the simple thing of turning the light on. Everything was possible with the support of UniCredit Tiriac Bank and the Romanian blogging community, who successfully promoted the cause and reduced the time for implementing the project. 

"The Government projects for installing electricity in the village were worth several million Euros.  We succeeded with approximately 9.000 Euros, to bring the light in the houses of these simple people. True, the gear doesn't support high energy consumption, but the villagers now have light in their houses without bills or walks in town to buy petrol and without generators. Light for Ursici is a project that gave me hope that a group of people, who were ambitions and believed in this cause, could do wonderful things with a real impact for the entire community. Ursici is not a big village, but those few people who live there they received a gift they were long awaiting", said Iulian Angheluta, founder of the Free Miorita Association. 

"Although the project was accomplished with the UniCredit Tiriac Bank financial help, the merit goes to the volunteers - bank employees and other participants. We want to thank them for their involvement and to be happy along with them for bringing the light to Ursici.", declared Anca Nuta, Identity & Communication Manager at UniCredit Tiriac Bank. 

Ursici is a settlement at the foot of the Sureanu Mountains, 450km away from Bucharest, and is part of the Hunedoara County. 14 households are spread along the mountain heights, at over 1.000m altitude and the people, most of them of old age, live their life among Dacian fortresses and stone churches. They are not poor, but they work a lot to take care of their cattle’s and to cultivate the mountain top. They don't complain and they don't ask for anything, they learned to take care of themselves with everything that the land offers them. 

Anyone can continue to support the projects developed by Free Miorita by donating money in the Free Miorita Association account, by buying one of the promotional products from the association's website or taking part to the Free Miorita actions as a volunteer. 

Free Miorita is a non-governmental resistance and action movement against the local fatalities.

UniCredit takes the UEFA Champions League trophy around Europe and all the way to Romania

20.09.2013

  • UEFA Champions League Trophy Tour presented by UniCredit starts today in Berlin 
  • After the launch in the German capital, the trophy hits the road for the 5th time, coming to Romania in Tmisoara, Cluj-Napoca, Brasov and Bucharest
  • UniCredit will ignite the football passion through a 5 week journey around Europe
  • Fabio Capello - The Official UniCredit Ambassador for UEFA Champions League - will accompany the trophy 


20th September 2013
 - UniCredit starts the UEFA Champions League Trophy Tour today in Germany's capital - and the host of the UEFA Champions League 2015 - Berlin final. 

Within the impressive event, football fans, as well as the large public, can admire the UEFA Champions League Trophy, but also a lot more valuable souvenirs, that used to belong to important figures from the football world, in the "UniCredit Walk of Champions" exhibition. 

They can be seen in Bucharest for 3 days, between 4th and 6th of October 2013, in George Enescu Square. On its way to Bucharest, the trophy will stop in three other cities from our country: Timisoara (Operei Square) - 30th September, Cluj-Napoca (Unirii Square) - 1st of October and in Brasov (Sfatului Square) - 2nd of October. 
Through a new concept, UniCredit wants this year to attract even more people fascinated by the most prestigious football competition in Europe. The strongly desired trophy will be on display in a "ceremonial balcony", which will envelop the visitors in a celebratory ambience.

This year’s exhibition will bring a series of interesting changes, along with an exciting multimedia adventure for the users. An elaborated RFID system will allow visitors a simple registration, which will allow them to directly interact with each exhibition event - from exclusive information about the UEFA Champions League souvenirs, to the amazing augmented reality characteristics, to getting involved in games and competitions. The new technology will connect the visitors with the digital world, allowing them share their experiences, photos and emotions based on the UEFA Champions League Trophy directly on their social media profiles. 

All the Bucharest fans are invited to preregister on www.unicredittiriac.ro/ucl

Another remarkable novelty of this year's tour is presented through the presence of the newly named UniCredit UEFA Champions League Official Ambassador, Fabio Capello. The current coach of Russia's national team will accompany the trophy. Along with Fabio Capello, lots of other UEFA Champions League stars and local ambassadors will contribute to the fascination that surrounds the Champions League Trophy Tour 2013. The Romanian Ambassador is Miodrag Belodedici. 

Fabio Capello, the UniCredit UEFA Champions League Official Ambassador: "UniCredit created an amazing event around the UEFA Champions League spirit and it's a pleasure for me to be part of this year’s edition of the UEFA Champions League Trophy Tour". The moment when I lifted the trophy was really emotional. Sharing this feeling of emotion and happiness with the fans from around Europe during this tour was an amazing experience and a great opportunity to thank them for their support and dedication. 

UEFA Champions League Trophy Tour became a really important way for UniCredit to get in touch with the fans through the years. Until now, the trophy visited 13 different countries, traveling over 10.500 km to get to 480.000 fans and offer them the extraordinary opportunity to take over 116.000 photos with the iconic trophy. 

After leaving Berlin, the UEFA Champions League Trophy presented by UniCredit will get to stop in four European capitals:
Budapest/ Hungary: between 27th and 29th of September
Bucharest/ Romania: between 4th and 6th of October
Sarajevo/ Bosnia-Herzegovina: between 11th and 13th October
Sofia/ Bulgaria: between 18th and 20th October


More information about the official sponsorship are available on www.unicredit.eu/champions. Also, on the UniCredit Tiriac Bank Facebook page:  https://www.facebook.com/UniCreditTiriacBank you can find the "Road to the trophy" app.

Frost flowers, a new exhibition presented by UniCredit Tiriac Bank

19.09.2013

18th of September 2013 - UniCredit Tiriac Bank presents the Frost Flowers exhibition, the third in a series of concept-exhibitions hosted by the bank which bring to the public valuable works of contemporary art from the ample international collection of the UniCredit gGoup. 

Opened from the September 18th 2013 until the January 31st 2014, Monday to Friday, between 10:00 and 20:00, Frost Flowers comes after two other themed exhibitions place in the same location, the lobby of the UniCredit Tiriac Bank headquarters from 1F Expozitiei Boulevard, Bucharest: Flight Tracking (7th of March - 21st of August 2013) and Spatial Poetry (15th of September 2012 and 31st of January 2013).

"The exhibition invites the viewer to a self reflection. Starting from the imaginary form of an ice flower, the viewer is told a double speech: the one from the selected works, and the one from the extracts of the formal exercise results through mathematical calculations from the book ‘Tilings and patters’, by Branko Grunbaum and G.C. Shephard, researchers from the University of Washington SUA and University of East Anglia UK.", declared Adrian Dan, the exhibitions curator. 

Some of the artists whose work is present in the exhibition are Armin Linke, Christine Streuli and Alexander Wolff.

"For us it's a great joy that we can share these works with the Romanian public, works that belong to some much appreciated artists and representatives in contemporary art. The works of art that we're exclusively bringing to the Romanian public, represent another way through which  we want to actively get involved in the life and development of the communities in which we operate", said Anca Nuta, Head of Identity and Communication at UniCredit Tiriac Bank.

UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration

17.09.2013

UniCredit Tiriac Bank and RBS Romania announce the successful completion of the transfer of the retail and Royal Preferred banking business of RBS to UniCredit Tiriac Bank S.A. and UniCredit Consumer Financing IFN S.A., following the public announcement on 30 April 2013.

The transfer process, which started on 5 August, completed on 16 September. It involved the technical migration of the customers’ products and accounts to the UniCredit systems as well as the legal and technical transfer of clients as well as the associated retail business staff.

We are glad that we successfully completed this complex process, in which all parties involved closely cooperated for one common aim: an easy transfer of RBS Romania customers to UniCredit Tiriac Bank and UniCredit Consumer Financing. We will strive, as we always have, to be an easy to deal with partner and insure all customers’ access to real benefits, to products and services that meet their needs, by means of a large territorial branch network and a high performing Call Center. We will continue our growth strategy on Retail, as well as on Corporate, while at the same time maintaining our position as a leading European bank on the Romanian market” stated Rasvan Radu, CEO UniCredit Tiriac Bank and Country Chairman of UniCredit in Romania.

This is an important milestone to us as it marks the end of our strategic repositioning and our former retail and Royal Preferred Banking clients will be able to benefit from the products and services of UniCredit. RBS Romania is now a bank which is exclusively focussed on serving selected local and international corporate and institutional clients by offering top quality products in Transaction Banking and Global Markets” said Henk Paardekooper, Country Executive of RBS Romania.

Once transferred, clients will be exclusively serviced by the UniCredit network and will benefit of the UniCredit Tiriac Bank’s, respectively UniCredit Consumer Financing’s enhanced retail product and services offering. For more information, the transferred clients can call the UniCredit Tiriac Bank’s Contact Center at +40 21 200 20 20 (Romtelecom network) or +4037 263 70 20 (Vodafone network).

Magic beyond the auditorium at the George Enescu International Festival 2013

02.09.2013

Romanian product designers, supported by UniCredit Tiriac Bank, sign the set spaces for journalists and VIP guests.

A modern media centre, with a receiving area for journalists, fresh and contemporary, made after the media centres drafts from major international events, a VIP lounge for guests, customized with a selection of concept-objects from Romanian designers, and two rooms full of character, for televised interviews with great artists of the world at Bucharest in September - these are few of the surprises prepared with the support of UniCredit Tiriac Bank for the 2013 edition of George Enescu Festival. 

The spaces, conceptualized and developed by DESIGN CENTER BUCHAREST, are positioned on the 1st floor of the Palace Hall in Bucharest and will be found on the official route of the festival, functional up until 28th of September 2013. 

"This year, the first for a Romanian event, arranging the press centre of the George Enescu Festival was conceptualized Romanian designers [by DESIGN CENTER BUCHAREST], supported by UniCredit Tiriac Bank. 

Through this unique component, part of the "Creative Bucharest" of the festival, we try to draw even more attention to the fact that Bucharest is a living and contemporary European capital and the festival is one that manages to create a show beyond the concert hall", was declared by Mihai Constantinescu, Executive Director for the George Enescu Festival. 

Based on the visual concept of the festival and the slogan "There's Magic", the Romanian designers have created a unique development concept, which continues the musical magic created in concert halls, in immediate utility spaces. This is the first time in Romania when a press centre of an international event bears the signature of designers. 

"UniCredit Tiriac Bank is the main partner of the George Enescu International Festival and supports through various initiatives the Romanian product design. We put together two areas in which we get involved and together we managed to achieve a unique and creative design for an internationally recognized festival," said Anca Nuta, Director of Identity & Communication at UniCredit Tiriac Bank. 

"The George Enescu International Festival is perhaps the best ambassador of what has Bucharest more surprising to show. Therefore, with great joy, at the invitation of UniCredit Tiriac Bank, I thought friendly spaces, fresh, permeated with the young Romanian designer’s creativity - that contributes to the image of a modern European capital," says Simona Buta, one of the DESIGN CENTER BUCHAREST founders. 

Masa Melted [AA Design Studio], a concept-table made of corian that seems to "melt" under the eyes of the beholder, Crocodile Skins lamp, from the designer Dragos Motic, Leaf Table [design by Anca Trestian and Alina Turdean] or Lamp Retro [designs by YaU Concept], these are some of the objects from the Romanian designers which will complement, in the fore mentioned spaces, the magic of the George Enescu 2013 Festival.

BUCHAREST DESIGN CENTER is the author of the concept of development, through the designer’s contribution [AA Studio] [Agnes Lukacs] [Alexe Popescu & Radu Manel] [Anca Trestian & Alina Turdean] [ArhiDot Design - Dana Bostina & Vlad Bostina] [Dragos Dogaru] [Dragos Motic] [Justin Baroncea] [Simplexio] [the CraftLab by Irina Neacsu] [YaU Concept]. 

The concept was developed from the "George Enescu" Festival identity, respecting the personality and inner architecture of space Host (Sala Palatului). 

UniCredit Tiriac Bank is the principal partner of the George Enescu International Festival and traditional supporter of cultural events. 

The events have enjoyed the support of partners Julius Meinl and IQ aqua, water offered joyfully to the thirsty for culture.

Attention symbol UCT18 bondholders

30.08.2013

UniCredit Tiriac Bank SA, a company managed two-tier, organized and existing under the laws of Romania, with headquarters in Romania, Bucharest, 1F Exposition Blvd., Sector 1, registered with the Bucharest Trade Registry under no.J40/7706/1991, registered at the Bank Registry under no. RB-PJR-40-011/1999/18.02.1999, DPA notification registered under no.10964, 361536 unique registration code, fiscal attribute RO, subscribed and paid up share capital 379.075.291,20 Euros, the issuer of the bonds with ISIN ROUCTBDBC014, symbol UCT18, listed on BSE Section III, Class ORDB , informs the holders of these bonds as this information was published on the website of the credit institution:

- Consolidated half-yearly financial statements including the auditor's report in Romanian;
- Declarations from the CEO and CFO on the financial statements at June 30, in Romanian;
- Quarterly report as required BSE and NSC - Regulation 1/2006, in Romanian;
- Declarations from the CEO and CFO on the financial statements at 30 June 2013, in English;
- Quarterly report as required BSE and NSC - Regulation 1/2006, in English.

Address where these documents can be accessed is: 
http://unicredit-tiriac.ro/about-us/unicredit-tiriac-bank/financial-statements

UniCredit supports the Light for Ursici project

12.08.2013

UniCredit Tiriac Bank supports the project initiated by the Free Miorita Association, Light for Ursici, being the first company to financially support the project. Just two days after the online popularization, on blogs and on Facebook, UniCredit Tiriac Bank has joined the cause offering a grant of 7.500 Euros, which covers the cost of the solar panels and auxiliary systems. Moreover, the action of installing the solar panels will be invited to participate as volunteers and employees of the company. 

"I read about the project on blogs and we decided to get involved, so we mobilized quickly, almost overnight. It’s not the first time UniCredit Tiriac Bank financially supports humanitarian projects - the floods in Moldova is an example of this. However, this is the first time our intervention has an impact on a whole community, following the installation of the solar panels in each household. Moreover, we really liked to solve this problem of lack of electricity, especially as our bank finances renewable energy projects." said Anca Nuta, Head of Identity & Communication at UniCredit Tiriac Bank.

"I got astonished when I got the call from UniCredit and they told me that they will support the project with 7.500 Euros. With their help we’ll light all the homes in Ursici before the winter. The online environment was with us from the beginning, and Cristi Manafu’s involvement in promoting the project helped us more than I expected. In reality, the help from him and the rest of the bloggers who have joined will bring the light at Ursici faster. Light for Ursici has baffled people who learned of the project and because of that is why we can take this light to other places – I already received messages from people who read about Ursici telling me about other villages forgotten in the past. The project can move forward, there are nearly 100.000 households without electricity in Romania", said Iulian Angheluta Miorita founder of the Free Miorita Association. 

Ursici is a settlement at the foot of the Sureanu Mountains, 450km away from Bucharest, and is part of the Hunedoara County. 15 households are spread along the mountain heights, at over 1.000m altitude and the people, most of them of old age, live their life among Dacian fortresses and stone churches. They are not poor, but they work a lot to take care of their cattle’s and to cultivate the mountain top. They don't complain and they don't ask for anything, they learned to take care of themselves with everything that the land offers them.

The village was never electrified, though here live more than 50 people permanently. The solution for the villagers was the solar panels for each household. The Light for Ursici project will be developed further and it will end in September when the lighting systems will be transported and installed. 

Miorita Free is a nongovernmental resistance and action movement against mioritic fatalism.

UniCredit Tiriac Bank obtained a net profit of 203 million in the first half of 2013, increased by 177% compared to January 2012

06.08.2013

  • Revenue increased by 17%
  • Gross Operating Profit increased by 34 %
  • Increase in deposits by 10.3 %
  • Significant improvement in the liquidity position and reduced dependence on external financing after achieving successful bond issue worth RON 550 million
  • Acquisition of RBS Romania Retail portfolio; the process shall be completed in the second half of 2013


6 August 2013
 - UniCredit Tiriac Bank has posted an individual net profit of RON 202.9 million (EUR 46.2 million) in the first half of 2013, 2.5 times higher than in the first six months of 2012. The outstanding financial evolution is driven by the sustainable business model and a good capacity for income generation.             

The Bank’s overall income was of RON 693.5 million (EUR 157.9 million) in the first six months of the year, increased by 17.3% compared to the same period in 2012, mainly due to higher income from fees - generated by growing volumes - and gains from trading operations. In the first half of the year, the operating expenses reached RON 320.7 million (EUR 73 million), increased by 2.5% compared to the first half of 2012 , the margin two times lower than the annual average inflation (5.4%). The increase was driven by variable business costs and the depreciation of capital investment. The cost optimization process continued in a cautious but steady manner. The gross operating profit came to RON 373 million, increased by 34% compared to the same period of the previous year.

The provisions for the loans amounted to RON 227.6 million (EUR 51.8 million), 73% over the last year, but at a relatively similar level if we exclude the changes in methodology from last year. The annualized cost of risk for the first quarter is of 2.4%. The Bank issued deferred tax liabilities, established as a result of IFRS conversion, in accordance with legal requirements.

The annualized return on equity (ROE) was of 14.5% in the first six months of 2013, compared to 5.8% in the first half of 2012, and the return on assets was of 1.6% compared to 0.6% last year. The costs - revenues ratio improved, decreasing by almost 7 percentage points up to 46.2% due to higher revenues. The solvency ratio stood at a very good level, 13.7% at the end of June 2013, providing a solid base for further business development, and a safety margin for any unexpected market shocks.

The loan portfolio provisions coverage is of 9.2%, offsetting all the identified or potential risks.

The bank’s assets reached RON 24.4 billion (EUR 5.5 billion) at the end of June 2013, increased by 7.4% from 30 June 2012. At mid-year, the balance sheet value of loans was of RON 17.1 billion (RON 19.6 billion including outsourced loans), a fairly constant level over the previous year (+0.7%), given that growth was focused on the SME segment* (33%) and medium-sized companies** (9%). UniCredit Tiriac Bank and UniCredit Consumer Financing loans consolidated volume rose by 1.6% in the period June 2012 - June 201, up to RON 18 billion. Customer deposits reached RON 12.9 billion, increasing by 10.3% compared to 30 June 2012. On the segment of deposits created by SME customers, the increase was of 27.4%, while the increase on the medium-sized segment was of 18.2%.

The Bank has successfully diversified its funding base, reducing its dependence on foreign sources. The loans - deposits ratio improved significantly, up to 133% (127% if we take into account the issuance of bonds), 13 percentage points lower than in June 2012 (i.e. 18 percentage points lower, including the issuance of bonds). In June, UniCredit Tiriac Bank issued bonds worth RON 550 million, with a maturity of 5 years, denominated in RON, the first emission in the bank’s history and the largest RON corporate bond emission on the domestic market.  

Furthermore, the amounts disbursed or approved for UniCredit Tiriac Bank by the international financial institutions increased almost 4 times compared to the end of last year. All the liquidity ratios are consistent with the assumed risk appetite, the Bank’s objectives and banking regulations.
The Bank ended the half of 2013 with 188 branches and approximately 2,800 employees, still focusing on branch profitability and organizational effectiveness.

"Despite the statistically GDP growth and the fact that the banking system returned to profit, the economic and market factors continue to show a delicate situation at the economic operators level. Consumption remains largely modest and loan demand continued to fall, while bankruptcies and bad loans rose. Most of the players on the market are undergoing a restructuring process. In this economic context, UniCredit Tiriac Bank will continue to strengthen its market position through consistent growth and stable business. The categories of SMEs and medium-sized companies will remain the main segments that we focus on for development. After purchasing the RBS portfolio, we rely on profitable niche products with reasonable level of risk to increase the Retail segment. The risk management activities and ensuring good quality of the financing portfolio will remain the priorities on our agenda", said Rasvan Radu, CEO of UniCredit Tiriac Bank.

In early January 2013, the Bank acquired the majority stake in UniCredit Consumer Financing, while maintaining 20% stake in UniCredit Leasing Corporation. Both UniCredit Consumer Financing and UniCredit Leasing Corporation have recorded profit in the first half of this year. Pro-forma consolidated assets of UniCredit Tiriac Bank, UniCredit Leasing Corporation and UniCredit Consumer Financing amounted to RON 27.7 billion (EUR 6.2 billion) at the end of June 2013, while the profit in the first six months of the 3 entities was of RON 206.9 million, increased by 182%.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit Group, leading European bank with the most extensive network in Central and Eastern Europe. In Romania, UniCredit Tiriac Bank is one of the leading financial institutions, offering high quality services and products to 596,000 customers through 188 branches. The Bank aims to permanently keep the customer at the core of its activities, to be a partner easy to work with and a very active party of the communities where it operates.
UniCredit Group is also present on the Romanian market through partners: UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).

* defined by UniCredit Tiriac Bank as companies with a turnover of more than EUR 3 million
** with a turnover ranging between EUR 3 and 50 million

UniCredit Tiriac Bank and RBS Romania announce the legal completion of the transfer of the retail business

05.08.2013

Bucharest, 5 August 2013 - UniCredit Tiriac Bank and RBS Romania announce the legal completion of the transfer of the Retail and Royal Preferred banking business of RBS (Bank) Romania S.A. to UniCredit Tiriac Bank S.A. and UniCredit Consumer Financing IFN S.A., following the public announcement of 30 April 2013.

On 5 August the transition period will start, during which clients with lending products will continue to be serviced by RBS Romania on behalf of UniCredit Tiriac Bank until 15 September, when the transition process will be finalised. The clients who only hold current account products, deposits and linked services have already been successfully migrated to UniCredit Tiriac Bank, following their expressed consent.

"The steps we have taken so far in the transfer process of RBS clients prove the choice is beneficial for all parties involved. We would like to thank clients for the confidence and demonstrate we are a trustworthy partner, by offering them competitive services and products, ample experience and well-trained advisors, with the help of an ample network and a high quality Call Center. Also, our bank has a development strategy for the Retail market and the necessary resources to continue to grow with our customers" declared Răsvan Radu, CEO UniCredit Tiriac Bank and Country Chairman of UniCredit in Romania.

"As nearly all of our clients expressed their consent to the migration of their accounts to UniCredit Tiriac Bank, our belief was strengthened that we took the best decision by selling our Retail and Royal Preferred banking business to UniCredit Tiriac Bank. We will continue to serve all customers well during the transition period which will be completely finalised on 15 September. In what concerns the business strategy of RBS in Romania, we will continue to be a fully focused corporate bank offering competitive, cutting-edge products in Transaction Services and Global Markets to our chosen client segment of premium international and large corporate and institutional clients" said Henk Paardekooper, President and Country Executive of RBS Romania.

Both RBS Romania and UniCredit Tiriac Bank are committed to continuing to ensure a smooth transition of customer accounts. All customers were kept fully informed of the transfer process and its timing. On transfer, clients will be able to benefit from UniCredit Tiriac Bank’s, respectively UniCredit Consumer Financing’s enhanced retail product and services offering. For more information, the clients who used to have only current account products, deposits and linked services with RBS Romania, can call the UniCredit Tiriac Bank’s Contact Center at +40 21 200 20 20 (Romtelecom network) or +4037 263 70 20 (Vodafone network). All other clients can call RBS Phone Banking, at +40 21 20 20 800, available 24/7.

UniCredit Tiriac Bank successfully closed the bond issuance

21.06.2013

21 June 2013 - The Corporate bond issuance in RON, opened by UniCredit Tiriac Bank at the end of last week, was successfully completed today, with an oversubscription level of 110%.

The Bank targeted RON 500M with its initial selling offer of corporate bonds. The final subscribed and allocated amount is RON 550M.

“We are very pleased with the result and the terms of our bond issuance. Also, we strongly believe our initiative will represent a benchmark and will contribute to the development of the local market. Thus, we appreciate the interest and commitment proved by the local and international institutional investors“, said Rasvan Radu, CEO of UniCredit Tiriac Bank.

This RON Corporate bonds issuance represents the first by UniCredit Tiriac Bank and it has been approved by the General Shareholders Assembly of the Bank on the 23rd of April 2013, as a part a more ample program which aims to diversify the financing sources.

The offer was successfully completed on Friday, June 21st 2013, based on the subscriptions of over 30 local and international institutional investors, including IFIs (EBRD and IFC), funds managed by the main asset management companies, pension funds, insurance companies, local and international banks and other investors.

„We plan to return to the market with new bond selling offers in the next years, depending on the future opportunities. We want to continue to expand our activity on the Romanian market, based on diversified financing sources, which we plan to attract both locally and internationally, as well as resources from UniCredit Group” added Rasvan Radu.

The Bank set the coupon at 6.35% per annum. Coupon payments will be made on June 15th and December 15th each year, the bonds being due 15.06 2018.

The issue will be registered for trading on the Bucharest Stock Exchange (BSE). The bonds are senior, unsecured, with 5 year maturity, due in 2018, denominated in dematerialized form. The issuance intermediary was SSIF BROKER and the legal advisory was assured by Badea Clifford Chance.

The transaction will be completed on the 25th and settled on the 28th of June 2013.

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe, with over 3,900 branches. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, a trully universal commercial bank, providing high quality products for all categories of clients. The bank is committed to generating value for its customers, consistently striving to be easy to deal with and being dedicated to the development of the communities in which it operates. 
In Romania, the Group offers a wide range of specialized products and services Through UniCredit Tiriac Bank, UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).

UniCredit Tiriac Bank offered JEREMIE guarantee loans to the SMEs worth 25 million euros

17.06.2013

UniCredit Tiriac Bank, one of the leading banking institutions in Romania, financed SMEs with about 25 million Euros, through the initiative of the Joint European Resources for Micro to Medium Enterprises (JEREMIE), managed by the European Investment Fund (EIF). 

Granted as preferential loans, they have now reached an absorption rate of about 30% of the JEREMIE guarantee agreement signed with the EIF, which allows the bank to allocate new loans totalling 87.5 million Euros. The JEREMIE guarantee covers 80% of loans. 

JEREMIE is a community initiative that aims to increase access to finance for SMEs through financial instruments financed by the Structural Funds. In Romania, JEREMIE is funded by the Sectoral Operational Programme "Increase of Economic Competitiveness" 2007-2013, financed by the European Regional Development Fund. 

"UniCredit Tiriac Bank reaffirms its commitment to support the JEREMIE initiative, an important tool for financing SMEs which is a strategic segment for the bank. Through the JEREMIE guarantee agreement, we can offer new loans to SMEs for investments and expansion, in more favourable conditions with low collateral levels," said Marco Esposito, Vice President in charge of Corporate Division, UniCredit Tiriac Bank. 

The granted loans have a lower interest rate by up to 100 basis points, lower guarantees (depending on the financial situation of the company’s additional guarantees which range between 70 and 0%) and zero cost for the JEREMIE guarantee. SMEs can access loans in the amount not exceeding 1.875 million Euros or the RON equivalent for a period of 12-72 months. 
So far, about 100 SMEs have benefited from the product with JEREMIE guarantee through UniCredit Tiriac Bank, the average loan of approximately 280,000 Euros. Most SMEs have applied and received loans working in areas such as wholesale trade, retail and production of paper products, metal and rubber (as described in NACE). Approximately 50% of the total funding was absorbed by companies operating in Dolj (Craiova), Bihor (Oradea), Prahova (Ploiesti), Arges (Pitesti) and Botosani (Botosani). 

"UniCredit Tiriac Bank is an active supporter of JEREMIE guarantee loans, thus supporting SMEs significantly to continue and develop in a difficult environment. Given that SMEs are generally most affected by the economic turmoil, we are glad that overall, through the JEREMIE guarantee, more than 1,500 small and medium companies in Romania have accessed loans worth about 160 million Euros so far," said Hubert Cottogni, Deputy Director, Head of the Regional Business Development, EIF. 

The JEREMIE Initiative, administered in Romania by FEI, represents a new way to use EU structural funds available to Member States to support the evolution of SMEs. EIF financial instruments develop institutional and private entities involved with the infrastructure and skills to meet the capital needs of entrepreneurs. The Guarantee Facility offered by UniCredit Tiriac Bank and other banks was the first financing instrument implemented in Romania by EIF through the JEREMIE initiative. Subsequently, FEI has developed a  JEREMIE venture capital tool, through which they financed the Catalyst Romania investment fund, dedicated to supporting SMEs active in the Technology-Media-Telecom (TMT).

Cicloteque bike rental, now in Timisoara

22.05.2013

Tuesday, May 21st 2013, Cicloteque bike rental service was inaugurated in Timisoara. The service will provide students and teachers from the West University of Timisoara with 40 bikes in the three centres in the West University, the Faculty of Economics, and the Business Administration and the exchange floor. Users will be able to rent bicycles from a centre, they will then use them to move to the city and, they may return them in any of the three centres. The first four hours of rental are free; the user will then pay 5 lei/hour if they want to use a bike longer. Cicloteque is a project of the Association MaiMultVerde and UniCredit Tiriac Bank in partnership with West University of Timisoara, Faculty of Economics and Business Administration and RETIM Timisoara.

The three centres were inaugurated through a bicycle rally organized during the University Day at the West University Timisoara. Cicloteque partners were represented at the launch by Doru Mitrana, Director of MaiMultVerde Association, Petru Opris, Banat Retail Regional Manager - UniCredit Tiriac Bank, Ovidiu Megan, Dean of the Faculty of Economics and Business Administration and Dr. Marilen Gabriel Pirtea, West University of Timisoara rector, and the guests were Dumitru Prunariu, rugby team players RCM mvt West University and rider Daniel Crista. 

The start to the march was given in the centre of West University (str.Vasile Parvan no. 4) and continued on the trail Metropolitan Cathedral - sidewalk – Ringul Bursier (Faculty of Arts) - Faculty of Economics and Business Administration - Students Campus - Faculty of Law and University of the West. The march was attended by 200 of Timisoara’s cyclists.

The three Timisoara centres are open every day of the week between 08.00 and 20.00. Cicloteque service is aimed at students and teachers from the West University of Timisoara. Rental bicycles can be done in centres and online on the www.cicloteque.ro/Timisoara website, following three simple steps: register, create an account and booking the bike. The first four hours of rental are free and if the user wants to rent the bike for a longer period, the price is 5 lei/hour. Along with the bike, the user receives the necessary protective equipment (anti theft, helmet, knee pads, and gloves). After renting, the bicycles can be returned to any of the open Cicloteque centres. 

"We bring Cicloteque to Timisoara with the same goal we had when we started the project in Bucharest five years ago, namely to promote cycling as a means of clean transport alternative to road traffic and its associated problems: CO2 emissions and stress, lost time, congestion and noise. We enjoy the interest of local institutions, starting with the West University of Timisoara, and the fact that we still have UniCredit Tiriac Bank with us in this endeavour “, said Doru Mitran, Director of the MaiMultVerde Association.   

"When we started the Cicloteque project along with its partners from MaiMultVerde in 2008, we wanted, in time, to expand outside Bucharest. We did this last year in Oradea, and now it happens to Timisoara. Now that we conquered the West, we aspire to move in other parts of the country," said Anca Nuta, Director of Identity and Communication, UniCredit Tiriac Bank. 

"By launching this service at the West University of Timisoara, we want to encourage a movement and sports culture among the academic community. It is an initiative with benefits for each of us and for the entire community to which we belong, and the academic medium is a suitable example in this area," said the rector of West University of Timisoara, Dr. Marilen Pirtea.

In 3M 2013, UniCredit Tiriac Bank records a net profit of RON 60mn 166.4% higher than 3m 2012

10.05.2013

  • 15.9% year-on-year growth in revenues
  • 28.7% year-on-year growth in gross operating profit.


May 2012
 - In 3M 2013 UniCredit Tiriac Bank reports RON 60mn (EUR 13.7mn) net profit, up 166.4% compared to 3M 2012. 

Total revenues were at RON 352.4mn (EUR 80.4mn) in the first 3M’13, up 15.9% year-on-year. Operational expenses were up 3.6% year-on-year, to RON 160.9mn (EUR 36.7mn).

Net impairment loss on financial assets states a cautious trend, increasing 5.4% year-on-year. Return-on-equity is improving versus 3M’12 (3.6%) and versus last year (6.6%) reaching 8.8%. Cost-to-income ratio is also improving with 5.4 pp, to 45.7%. 

Balance sheet total of the bank reached RON 23.1bn (EUR 5.2bn) at the end of March 2012, up 3.6% year-on-year. Outstanding on-balance sheet loan portfolio is RON 17.3bn (RON 19.9bn including externalised loans), up 6.8% year-on-year. This includes 49% year-on-year growth in small business and 16% year-on-year growth in mid-size corporate portfolio. The consolidated gross loans of UniCredit Tiriac Bank and UniCredit Consumer Financing grew 7% year-on-year to RON 18.0bn. Customer deposits reached RON 12.1bn, up 9.2% year-on-year. This brought the Loan-to-deposit ratio down to 143%, 3.3 pp lower than a year ago.

Solvency ratio reached 14.8%, above the peer group average. 2012 profit was recapitalised in order to support the Bank business growth. Provision coverage on-balance sheet loan portfolio went up to 8.9%, from 8.0%. Annualised Cost-of-risk increased from 216bp in 3M’12 to 239bp in 3M’13, on a comparable basis. 

"Continuous economic stagnation led to a stable drop in the banks' loan portfolio. Yet the political stability and the Romanian sovereign debt inclusion in some EM indices brought about a good capital inflow and liquidity in the local market somewhat rebalancing the fundamentals. We report a good first quarter capitalizing on a good portfolio growth and sustainable business policies. The bank's strong financials and positive long-term expectations for the market resulted in acquisition of the retail portfolio business of RBS in Romania as recently announced. This is fully in line with our strategy and we believe will have a good impact on our business and customers.", said Rasvan Radu, CEO.

The pro-forma consolidated total assets of UniCredit Tiriac Bank, UniCredit Leasing Corporation and UniCredit Consumer Financing come up to RON 26.3bn (EUR 6.0bn), and the group net profit is RON 61.7mn, up 134% year-on-year.

UniCredit Tiriac Bank acquired the RBS Romania Retail Banking business

30.04.2013

UniCredit Tiriac Bank S.A. ("UniCredit Tiriac Bank") and UniCredit Consumer Financing IFN S.A. ("UniCredit Consumer Financing") have agreed the acquisition of the Retail and Royal Preferred Banking business of RBS (Bank) Romania S.A. ("RBS Romania") representing approximately €315m euro in assets and €230m in liabilities.

The transaction is subject to approval from the National Bank of Romania and the Competition Council and is expected to be completed in the second half of this year. The financial terms of the transaction will not be disclosed. All RBS Romania staff associated with the Retail and Royal Preferred Banking business will transfer to UniCredit Tiriac Bank subject to consultation with the social partners.

"UniCredit Group has constantly reiterated its commitment to the Romanian market and UniCredit Tiriac Bank’s strategy has been that of sustainable growth on all main segments of activity. Retail represents a core business for our bank and this acquisition perfectly fits our development strategy in the medium- and long-term, while at the same time maintaining our position as a leading European bank in the Romanian market" declared Răsvan Radu, CEO UniCredit Tiriac Bank and Country Chairman of UniCredit in Romania.

"We are pleased to announce the news on the sale today to our Retail and Royal Preferred Banking customers. UniCredit Group’s international profile and strong reputation provide an attractive new home for our customers, who will continue to benefit from high quality products and services. We will maintain our strategy of becoming a fully focused corporate bank offering competitive, cutting-edge products in Transaction Services and Global Markets to our chosen client segment of premium international and large corporate and institutional clients" said Henk Paardekooper, President of RBS Romania.

RBS Romania and UniCredit Tiriac Bank are committed to ensuring a smooth transition of customer accounts and all customers will be kept fully informed of the transfer process and its timing. There will be no change to the contractual terms and conditions of the respective products and services offered. On transfer clients will be able to benefit from UniCredit Tiriac Bank’s, respectively UniCredit Consumer Financing IFN’s enhanced retail product and services offering.


UniCredit Tiriac Bank is part of UniCredit, easily the number one group on the CEE banking market, which operates by far the leading network throughout the countries of the region, with over 3,900 branches.
In Romania, UniCredit Tiriac Bank is one of the main financial institutions, a trully universal commercial bank, providing high quality products and services for 591,000 clients, through a national network of 208 branches. The bank is are committed to generating value for its customers, consistently striving to be easy to deal with and being dedicated to the development of the communities in which it operates.
In Romania, the Group offers a wide range of specialized products and services with the help of its partners: UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).


RBS Romania is part of the Royal Bank of Scotland Group plc and has a business strategy of focusing on serving premium international and large local corporate and institutional clients by offering competitive products in Transaction Services and Global Markets. The bank has been present on the Romanian market since 1995, being one of the first foreign banks to operate in Romania. For more details about RBS Bank (Romania) S.A., visit www.rbs.ro.

UniCredit Tiriac Bank is the only Top Employers Europe certified bank in Romania

25.04.2013

The bank has received accreditation for the 2nd consecutive year.

UniCredit Tiriac Bank was certified as Top Employers Europe 2013 by Corporate Research Foundation (CRF), an independent research institute of human resources standards and working conditions in European companies. 

Last year, UniCredit Tiriac Bank was the first and only financial-banking institution in Romania who won the accreditation of great importance in the field of human resources internationally, award granted in 2013 by CRF.

During the auditing and identification process of the best employers, the bank received certification in parallel with seven other subsidiaries of UniCredit (Austria, Croatia, Germany, Italy, Poland, Russia and the UK), which contributed to the financial group certification among Top Employers Europe 2013 for the third consecutive year, a first in the history of CRF activity. 

Certification from CRF ranks UniCredit Tiriac Bank among employers with the highest standards and practices of human resource management in Europe. 

UniCredit Tiriac Bank has undergone a research and audit process through which they were evaluated: company culture, career opportunities, training and development, working conditions, benefits and the side benefits package. 

The CRF Institute methodology in selecting the Top Employers is based on three levels of evaluation: a complex research based on factual information, interviews with company representatives and a comparative assessment of participating companies. The methodology is certified by the Ministry of Economy, Trade and Business Environment in the Netherlands, the research being audited by Grant Thornton, one of the largest auditing firms in the world.

Alina Dragan, Executive Vice President of Human Resources, UniCredit Tiriac Bank, "The bank receiving certification a second year in a row has a special value for us, because it confirms our sustained efforts to create and maintain a dynamic working environment and performance. We remain oriented towards the development of our employees and strive to excellence in all areas of activity. " 

The award ceremony took place on March 21, 2013, in London, in the presence of CRF Institute's top management, and representatives of the most prestigious European companies. During the award ceremony, David Plink, CEO of CRF, wanted to emphasize the exclusive character of this certification, awarded this year to a total of only 20 companies recognized for applying the highest standards and practices of human resource management at pan-European level.

American Express may be used for payments on the UniCredit Tiriac Bank terminals installed at the partner merchants

23.04.2013

April 23, 2013, Bucharest - UniCredit Tiriac Bank has signed an agreement with Bancpost bank that holds the exclusive license issuance and acceptance of American Express® cards in Romania, through which the American Express® cards may be used for payment on terminals installed by UniCredit Tiriac Bank to traders who want a partnership in this regard. In Romania, Bancpost issued only three types of American Express credit cards: American Express® Gold, American Express® Green and EuroLine American Express® (by ERB Retail Services). 

Thus, Bancpost and UniCredit Tiriac Bank are the only banks in Romania that accept American Express credit cards for payment at partner merchants. POS transactions with UniCredit Tiriac Bank and Bancpost don’t involve any commission for clients, regardless of the card issuer. UniCredit Tiriac Bank and Bancpost are committed to support expansion card payments accepting American Express® in Romania through its own network of terminals. UniCredit Tiriac Bank currently operates a network of approximately 12,800 and approximately 8,000 terminals Bancpost.

Bank Austria and APA invite submissions for writing for CEE 2013

17.04.2013

Journalist award now in its tenth year, submissions accepted until 31 July

In 2013 the EUR 5,000 "Writing for CEE" journalist prize will be awarded for the tenth time. Journalists from all round Europe - including Northern Europe, South Eastern Europe and the CIS countries - are invited to submit their works in this jubilee year.

The award is not an EU prize, nor is it a special prize for topics concerning Central Europe or Central and Eastern Europe. "We would expressly like to invite all European journalists to participate", emphasised jury chairman Ambros Kindel. The work submitted should tackle life in Europe, the hopes, concerns and desires of the people, and contribute to bringing nations together and overcoming prejudices.

Former winners include Czech journalist Lubos Palata (2004), Bulgarian author Diana Ivanova (2005), Bosnian journalist Sefik Dautbegovic (2006), Austrian author Martin Leidenfrost (2007), radio journalist Anna Koktsidou born in Greece but who grew up in Germany (2008), Austrian journalist Florian Klenk (2009), Bosnian-born author Azra Nuhefendic who lives in Italy (2010), Slovenian journalist and photographer Meta Krese (2011) and Czech journalist Martin Ehl (2012). 

Prominent honorary guests have included GDR civil rights campaigner Bärbel Bohley, now deceased, former Czech foreign minister Jiri Dienstbier, former Slovenian President Milan Kucan, legendary German foreign minister Hans-Dietrich Genscher and the former High Representative of the international community in Bosnia and Herzegovina and today Austrian Ambassador at the OECD Wolfgang Petritsch. 

In addition to the prize winner from the previous year, members of the jury have included Czech communications expert Milan Smid, Slovakian publicist Michael Berko, communications consultant Ildiko Füredi-Kolarik, Polish journalists Igor Janke and Pawel Bravo, Hungarian radio journalist Julia Varadi, Bulgarian author Janina Dragostinova, CEE press spokesman of UniCredit Bank Austria Tiemon Kiesenhofer, and as jury spokesperson, communications specialist Ambros Kindel.

Entries published after 1 August 2012 can be submitted until 31 July 2013. Transcripts from radio, TV and online media are also welcome. The winner will be announced and receive the award in November 2013 at an event in Vienna. 

The submissions must be made in the original language along with a translation into English and a CV of the writer/author. More information and the submission form can be downloaded from the internet at www.apa.at/cee-award.

Provus card personalization activity takes UniCredit Tiriac Bank

15.04.2013

Provus Service Provider, the largest processing centre of card transactions in Romania and one of the largest processing centres in Eastern Europe, took over the work of customizing the cards issued by UniCredit Tiriac Bank. 

Within the partnership, Provus will customize all kinds of cards issued by UniCredit Tiriac Bank: magnetic stripe cards, chip & PIN; with or without a bar code, issued by Visa and MasterCard. Prior to the takeover, customization was done within the bank, with their own equipment. Provus took all of this equipment, along with team who used to manage the customization, this being a premiere on the Romanian market. 

"For 2013 we plan to increase both the volume processing transactions with bank cards as well as the sustainable development activity of card personalization and customization services, and through taking the UniCredit Tiriac Bank cards we make an important step in the proposed direction, also complementing our portfolio with another prestigious financial institution." said Utku Ogrendil, CEO of Provus Service Provider and Chairman of the Board of RomCard. 

"We made the decision to outsource card personalization through Provus Service Provider since we want to be as efficient as possible for our clients, both in terms of processes and related cost of this activity. Our choice was based on professionalism and high quality of services provided by the Provus specialists during the pilot project which we developed. During this project, operating mode and time of delivery were strictly adhered to, making us confident we will have a further successful collaboration," said Daniel Cannonball, Director of Operations at UniCredit Tiriac Bank.

Integrated customization services to be provided by Provus for UniCredit Tiriac Bank are: card acquisition, inventory management, customization, comprised and securely delivered, in accordance with the standards set by Visa/MasterCard. 
Provus Group - RomCard is owned by Innova Capital, one of the most dynamic private equity funds in Central Europe. 

Provus Service Provider is the largest centre for processing transactions cards in Romania and one of the most important processing centres in Eastern Europe. Provus holds all necessary certifications issued by international organizations MasterCard and Visa, offering a full range of card processing services. Currently Provus Service Provider manages over 1500 ATMs and 9200 POS terminals, personalizing an average of 100.000 cards/per month and they process over 3 million cards and 3.5 million transactions per month.

UniCredit Tiriac Bank has achieved in 2012, a volume of factoring of about 800 million euros

25.03.2013

The volume of factoring operations performed by UniCredit Tiriac Bank amounted last year to 796.5 million Euros, stable compared to the level recorded in 2011.  

"The factoring area was a strategic segment for our bank since 2007, the volume of managed receivables increasing ten times in the period 2008-2012, given that we wanted to meet the need of our customers for this product, need which, in the difficult economic environment, has grown steadily. Maintaining the assigned volume of our company in 2012 compared with the previous year had based on a prudent risk policy, in the sense that our efforts were concentrated on risk dissipation. Thus, the number of adherents (companies that have transferred to new claims) increased in 2012 to 421, compared to 2011, when the stood at 251," said Alecsandra Valasuteanu, Head of Factoring UniCredit at Tiriac Bank. 

UniCredit Tiriac Bank offers a complete package of factoring products: domestic and export factoring with or without recourse, import factoring, independent collection services, reverse factoring and maturity factoring (Maturity factoring addresses large corporate borrowers; so they can benefit from extended payment terms without changing the structure of trade relations with suppliers, under an agreement with the factor). We also take pride in the flexibility and ability to structure factoring sub facilities, extremely complex transactions. 

The flexibility of product and experience in recent years allows us to address all areas of activity, which our bank serves them individually, adapting the specifics of each. The industries that contributed most strongly to the volume of realized factoring are construction (28%), followed by auto & equipment sector (19%), metals & chemicals (14%) and agriculture & food industry (13%). Structure reflects the specific market in Romania, construction being the most heavily represented in the transactions on the domestic market, while the auto & equipment and the metals & chemicals segments are representative for the export and import transactions. 

The largest share in turnover recorded at the level of 2012 was obtained by the operations in domestic factoring (83.2% of total managed receivables). In parallel, with the dissipation of risk, the bank focused on supporting exports and imports, effort stressed by the turnover of the export factoring increased by 163% compared to 2011, and the turnover of import factoring transactions increased by 90% compared to 2011, but also becoming a full member of Factors Chain International. 
The UniCredit Tiriac Bank factoring packages are available for businesses of any size (from small to medium or to multinational) located anywhere in Romania, which sell/buy any goods or services in the payments of a portfolio of clients. Companies with a turnover of between 5 and 50 million were contributed by 52% of the total volume of factoring undertaken by UniCredit Tiriac Bank. 

Factoring is a package of services that the bank makes available to companies based on claims that they have about their clients. Services included in this package are: prepayment of term receivables with due dates next year, receivables management, debt collection, and the default risk of borrowers is covered. In the structure of factoring products, practically more than just a funding may be found, this time placed in the foreground is the management and consulting services that the factor provides companies. 

"From the point of view of customers, arguments for choosing a factoring facility are many: high accessibility compared to traditional short-term financing, failure to request additional guarantees to the assignment of receivables factoring (which is very important in this period of blockage real estate market when evaluating potential guarantees not rise to the level of previous years), efficient cash-flow by outsourcing debt collection services at a time when all noticed a general worsening payment behaviour regardless of the field, the possibility to pay their suppliers in advance and thereby benefit of discounts, protection against the risk of default of borrowers and, last but not least, a flexible funding. UniCredit Tiriac Bank is one of the factoring leaders, with a market share estimated at 27% in 2012 and will continue to pay attention factoring products, in order to support the need for funding as appropriate, the risk of default protection and efficiency cash flow market being so striking in Romania," added Alecsandra Valasuteanu.

UniCredit Tiriac Bank celebrates Earth Hour

22.03.2013

UniCredit Tiriac Bank celebrates Earth Hour this year as well, by turning off lights in its headquarters (1F Exposition Boulevard, Bucharest) on Saturday, March 23, 2013, from 20:30 to 21:30.

The initiative is being conducted at group level, Romania being one of the countries that joined. UniCredit celebrates Earth Hour by turning off lights in 76 buildings from 14 European countries. The bank takes part in WWF's initiative to increase the visibility of climate change. 

UniCredit will participate for the sixth consecutive year at the initiative of WWF, which aims to increase the visibility of climate change, which seriously affects our planet. 

Climate change is one of the most serious crises faced by the humanity. Its effects in 2012 were alarming: massive reduction of the glaciers in the Arctic and multiplication of the devastating phenomena’s for the planet (drought, floods), which threaten the ecosystems and lives of millions of people. According to predictions, 2013 is announced to be one of the warmest years ever. Responsibility for this dramatic scenario belongs mostly to people, for the steady increase in CO2 emissions, their concentration in the atmosphere reaching a record in January 2013 - 395 in a million. 

Supporting Earth Hour 2013, UniCredit aims to provide a “visible” proof to counteract the significant commitment to environmental changes, which are now underway. Responsibility towards this subject was addressed not only by environmental organizations, but also by prestigious scientists and international organizations such as the World Bank, the International Energy Agency, World Economic Forum and the President of the United States of America, Barack Obama, who has put the fight against global warming among the priorities of his second term. 

UniCredit’s participation in Earth Hour is part of a broader strategy on eco-sustainability. The bank has set a target to reduce CO2 emissions up to 30% by 2020. A first step toward this goal was made by the construction of new buildings for the headquarters of the banks in the group, using technologies that will achieve energy savings amounting to 22.5%, a decrease of 37.3% in the drinking water consumed in buildings, reuse of 100% of the rainwater, recycling 93% of materials resulting from construction, usage in proportion of 20.5% of recycled materials and, in proportion of 41% of the local products. 

UniCredit announces literary debut contest entries for the sixth edition

21.03.2013

Bucharest, March 21, 2013 - UniCredit Bank and The Catalist Association gave the start today to the sixth edition of the UniCredit Literary Debut. The contest is intended to Romanian authors who have never published papers in volume so far, giving them the chance to see their literary creations in bookstores.

This year, the registration period ends on May 13, and the festivity ceremony, which will take place in June, will designate the winners of the three competition categories: novel, short stories and poetry. 

The manuscripts submitted for the sixth edition will be evaluated by personalities from the literary and academic fields. This year's jury will be composed of: Liviu Papadima (Professor, Doctor of Philology, dean of the Faculty of Letters, University of Bucharest), Marin Malaicu-Hondrar (poet, novelist, translator, organizer of the annual festival in Bistrita's poetry) and Marius Chivu (literary critic, editor and publisher of Dilema Veche and Dilematica). 

The winning volumes will be published and promoted by Humanitas Publishing at the 20th edition of the International Gaudeamus Fair, which will take place between 13th and 17th of November 2013. 

"A characteristic of the involvement in activities for developing the UniCredit Tiriac Bank community is continuity. The UniCredit Literary Debut is one of the projects which abundantly prove this. We have been for the past six years partners in organizing this competition, one of the oldest in Romania, and we enjoy along with the authors when we browse fresh out of print books. This year is no exception and we hope that in autumn, when the winners’ books will be published, we’ll have reading material from the future successful Romanian writers." says Anca Nuta, Head of Identity & Communications UniCredit Tiriac Bank.

"Literary value is measured in time. Therefore, we also continue this year to support junior writers, rewarding them and recognizing their skills by promoting their literature." Cristina GUSETH, director Catalist Association. 

The UniCredit Literary Debut Contest will be supported by two literary debates organized at Humanitas bookstores and at the Faculty of Letters, University of Bucharest. They will meet familiar names from the Romanian literary and encourage free interaction between literature enthusiasts. 
Additional information regarding eligibility criteria, how to register for the contest and editions from previous years are available on the website: www.bibliofagia.ro and on the contests Facebook page. 

Media Partners: Dilema Veche, PORT.ro, HotNews.ro (WebPR) Romania Regional Radio Romania International Radio and Radio Romania Cultural.

In 2012, UniCredit Tiriac Bank records a 9% increase in loans and a net profit of RON 177mn under IFRS

18.03.2013

  • RON 177mn net profit under IFRS (under equity method), up 11.3% year-on-year.
  • Improved market positioning to #5 with 6.9% of total assets. 
  • 10% year-on-year growth of total assets.
  • 9% year-on-year growth of customer loans.
  • 20% year-on-year growth of customer deposits.
  • Strong liquidity and capital position.
  • The consolidated total assets (pro-forma) of the Group business in Romania  are up 8% year-on-year, and its net profit is up 9% year-on-year.


18 March 2013 - UniCredit Tiriac Bank reports RON 177.4mn (EUR 40mn) net profit under IFRS, up 11.3% compared to 2011, due to increasing revenues and drop in impairment losses. Stand-alone net profit for the same period is RON 173.1mn, up 11.5% year-on-year. ROE (return on average equity) is 6.8% and ROA (return on average assets) 0.7%. Solvency ratio is comfortable at 13.5% under IFRS (excluding current-year profit). The bank has a strong liquidity position. 

The bank’s operating income registers a 2.1% growth, driven by non-interest income. Interest income was negatively  impacted by the drop in base rates and lending margins while bearing higher funding costs, somewhat compensated by the 9% growth in loans. Operational expenses grew 3.6%, incorporating the impact of relocation in the new headquarter, variable business driven costs. Efficiency was largely preserved with a cost-to-Income ratio at 50.8%. Net impairment losses on financial assets (mainly customer loans) dropped 4.2% compared to previous year.

The balance sheet total reached RON 25.1bn (EUR 5.7bn), up 9.8% compared to a year ago. Outstanding on-balance sheet loan portfolio is RON 17.3bn (RON 19.9bn including externalised loans), up 9.2% compared to 2011. Corporate loans grew 12% and small business ones 54%, mortgages stayed near flat, while consumer loans (including UCFIN) dropped 10% year-on-year. Customer deposits reached RON 13.8bn, up 20% year-on-year, higher from private individuals (28%). Loan-to-Deposit ratio at the end of the year is 125%. Although tempered somewhat the asset quality deterioration trend continued, instigated by the prolonged economic crisis. Over 90-day default rate reached 12.2% compared to 11.7% a year ago. Annualised Cost of risk dropped to 188bp. Provision coverage of on-balance sheet loan portfolio went up to 7.8%. The bank’s asset quality remains better than the system and peer group.

The consolidated total assets of UniCredit Tiriac Bank, UniCredit Leasing Corporation and UniCredit Consumer Financing grew 8.2% to RON 28.2bn (EUR 6.4bn) and shareholders’ equity by 8.5% to RON 2.75bn. The net profit of the group is RON 175mn, up 9% year-on-year.

"In a year of a symbolic growth of economy, real drop in lending and significant loss of the banking system, we succeeded to mark a double digit real growth of business, rebalanced customer liabilities to assets, carefully managed all potential risks, improved market positioning and earned a good profit keeping stable profitability levels. Next year will still be marked by the prolonged crisis with limited demand and default risks on the updside. Yet we see growh opportuntities in selected areas and optimisation to support bottom line.", said Rasvan Radu, CEO.

Flight Tracking, a new exhibition presented to the public by UniCredit Tiriac Bank

07.03.2013

March 7th 2013 - UniCredit Tiriac Bank presents Flight Tracking exhibition, under the unique initiative in Romania, through which the bank aims bringing to the public valuable contemporary artworks, from the UniCredit Group international collection.

Flight Tracking will be open to public between March 7th and August 21st 2013, from Monday to Friday, between 10:00-20:00, and it’s the second from a series, taking place in the UniCredit Tiriac Bank’s main headquarter lobby, located in 1F, Expozitiei Blvd., Bucharest. The first exhibition in the series was Spatial Poetry, that could be seen between September 15th and January 31st 2013.

The significance of the exhibited artworks is easy to decode: flights around the world as lines on a map linking different geographical points. In the digital cartographic system, space is displayed through a schematic representation where each element represents an encoded material universe known or unknown to its viewers. The four artists presented in this exhibition have captured four different geographical locations through different photographical techniques. Yet these are not the usual documentary photos but each artist’s interpretation of each location, visual traces sliding into abstraction rather than guidebook covers.

"The four artists are, as us, nomads of the globalized world, traveling in time and space and capturing universes through the filter of their imagination. Tracking possible flights in our minds while sitting at the desk or walking on the street, places we’ve seen or places we dream of, we can easily understand how Tibetan flags melt down their colors to the point of being undecipherable, a former mine in Argentina resembles a lunar dune which at its turn formally resembles an overexposed beach in Italy while the famous name of the Louvre Museum is written out of graffiti look-alike letters easily found on the walls of shady subway corridors as traces of urban marginality.", explained the artistic curator of the exhibition, Adrian Dan. 

In the exhibition, the real geographical location of each photo is displayed next to the work as an agent of interrogation of our perception. In the end, photographical abstraction and satellite mapping are both just human representations of forms and spaces. Or, in other words: flight tracking.

"The exhibition series that we bring exclusively to the Romanian public represents another way through which we understand our active involvement in the life and development of the communities where we activate. For us it is a great success the fact that we can share with a large audience from Romania these artworks, belonging to some appreciated and representative artists in contemporary art.", said Anca Nuta, Head of Identity and Communication UniCredit Tiriac Bank.


The artworks

Massimo Vitali focuses on the everyday dimension telling of mass events, which involve the general public. Photographing public leisure spaces, such as beaches, discos, parks and town squares, the artist works mainly with large-scale images, in which landscapes and human behavior melt into each other. The work Mondello Monte Pellegrino 2, #2779 is dominated by the view of the sea full of the tiny figures of swimmers. His images tell stories of our own age, of the habits and rituals that identify modern living, while at the same time reflecting on contemporary landscapes in a constant state of change.

By searching from the very beginning for alternative means of production and representation of the artwork, Goran Trbuljak has redefined the status of artistic context, asking radical questions about the autonomy of the system of museums and galleries and about the mechanism by which something is accepted as art. In the famous Paris subway station Louvre, Goran Trbuljak used the illuminated sign as source of light for his "photograms", by holding a sheet of photosensitive paper for a few seconds in front of each letter. Areas of the paper that have received no light appear white, and those exposed to the light, black. The six developed photographs reveal a negative image of the original word on a scale of 1:1.

Part of a project carried out in 2005 at the site of a large steel company in Argentina, this image is the testimony of the artistic approach of Carlo Valsecchi. Attracted by heavy industry sites, where he struggles to establish a more intimate relation to matter, the photographer researches the very means of image capturing by reducing the process to its essential features of shape and color. Photography is interrogated in depth and taken to the limit of representation as a transparent medium in the work Campana, B.A., Argentina where all that is visible is a mountain of matter and the orange sky. The result is an image of great expressive power in which its unreal transfiguration expresses the power and energy of the original place.

Darren Almond’s research penetrates into the concept of time in the sense of duration, i.e. with relation to individual powers of perception. Such research into time has driven the artist to exploring a variety of places (often in extreme regions of the world), beginning with his own history, but also touching upon collective memories, history and tradition. This work of art is part of a series recorded in Tibet, Infinite Betweens. Colorful flags are hung in front of temples, holy places and along the ridgeways as offerings. Belief says that the wind distributes the prayers written upon them into the air by moving the flags, thus blessing their surroundings. In Almond’s inspiration the photos and the flags become enchanting, abstract compositions

Flight Tracking is the second exibition from a series in which artworks from UniCredit Group collection will be exibited, and that will be open to large public from Romania with a frequency of 4 to 6 months. 


UniCredit Art Collection 
It’s one of the most valuable art collections owned by the largest companies in Europe. Remarkable for its historical extent, UniCredit Art Collection includes works of great diversity, from prehistoric Mesopotamian artifacts to works of masters such as Canaletto and Tintoretto. Among the tens of thousands of parts that make up this collection include works of famous artists and classical or modern, as Yves Klein, Fernand Léger, Giorgio Morandi, Kurt Schwitters, Giuseppe Maria Crespi, Dosso Dossi, Il Guercino, Oskar Kokoschka, and the brand of some of his contemporaries such as Christo, Georg Baselitz, Gerhard Richter, Andreas Gursky and Andy Warhol.

The artistic patrimony is aPatrimoniul artistic este o oglindire a identitatii europene a UniCredit, pe care grupul este onorat sa o exprime inclusiv prin colaborari pe termen lung cu muzee, parteneriate cu diferite expozitii sau prin vernisaje precum cel anuntat cu aceasta ocazie.

About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of UniCredit Group, top European bank with the largest network in Central and Eastern Europe, counting more than 3,900 branches. In Romania, UniCredit Tiriac Bank i sone of the main financial institutions, offering quality products and services for all client types. The bank aims client centricity policy, be an easy to deal with partner and also an active part of the communities in which it operates. UniCredit Group is also present in Romania through its partners: UniCredit Leasing Corporation, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS). 
www.unicredittiriac.ro 

UniCredit Tiriac Bank signed all the conventions proposed so far by the payments and intervention for agriculture agency - APIA

07.02.2013

7th of February 2013 - UniCredit Tiriac Bank has signed all the conventions proposed by APIA so far to finance current activities by beneficiaries of grants: the Single Area Payment Scheme, Complementary National Direct Payments (PNDC) in the plant and animal species bovines and sheep/goat, pig welfare through Measure 215, the beneficiaries of rural development measures included in Axis II of the National Rural Development Programme (RDP). 

Conventions provide grant funding of up to 80% of the value recorded in the certificate issued by APIA to the beneficiaries for the PNDC 1 (vegetable) and for the beneficiaries of rural development measures included in the Axis II of the National Rural Development Programme (RDP), for up to 90% for other types of grants.

"UniCredit Tiriac Bank offers such a full package funding for farmers benefiting from EU funds and national grants, through both dedicated to providing working capital facilities to receiving grants managed by PIAA, and through bridge loans, investment loans, comfort letters and letters of guarantee for projects investments financed from European funds," said Marius Radu, Coordinator of European funds in the bank. 

Starting July 2012, pig farms receive no aid from national funds, but can benefit from European funding under Measure 215, from the National Rural Development Programme (RDP) - Payments on animal welfare - Pigs, which will accrue until the end of 2013. Regarding direct subsidies per hectare, farmers are given by the Single Area Payment Scheme (SAPS) 119, 66 euro/ha from the European Agricultural Guarantee Fund (EAGF) value that applies a linear correction. Growers of rice and sugar beet receive an extra 300 Euros/ha from the same European fund, respectively 284.46 Euros / ha. Also, eligible farmers benefit from grants worth 35 Euros/ha from national funds (PNDC 1 - Vegetable), plus additional payments for growers in fibber, hemp fibber, tobacco, beet sugar and hops. 

For beneficiaries of complementary national direct payments (PNDC) in livestock, particularly bovine, eligible beneficiaries receive 500 lei/head, and in the case of sheep and goats, 40.8 lei/head. 

Payments for the rural measures development included in Axis II of the RDP 2007-2013 consist of financial support measures determined in accordance with chips 211, 212, 214 of the RDP, ranging between 58 and 270 Euros/ha. 

23 Communication Ideas and UniCredit Tiriac Bank won the gold trophy at Art Directors Club Awards

06.12.2012

Within Art Director’s Club Awards Gala, that took place on 5th of December, to the French Institute – Elvira Popescu Hall, were awarded the most creative campaigns in Romania in the last year.

To the TV category, 23 Communication Ideas won the Gold Trophy for two spots: “The Professor” and “The Pregnant Woman”, created for UniCredit Tiriac Bank, aiming to promote the main benefit of Express Loan: 24 hours approval. The trophies were received both for “financial-banking” and TV categories.
However, within the event, Bogdan Costin form Communication Ideas was named the Copywriter of the year, for the same TV campaign for UniCredit Tiriac Bank.

“We were very glad to receive these awards, especially because our colleagues from the marketing teams of UniCredit Tiriac Bank and UniCredit Consumer Financing became extremely involved in this project and 23 Communication Ideas understood perfectly our brand positioning and the messages we were willing to send. The campaign and the spots were especially designed for the Romanian public, for which finding a brilliant and unexpected solution is characteristic. We wanted to show that are viable alternatives for their short-term financial needs and we wanted to transmit this in a relevant way, in the Romanian typical humor, Bogdan Naumovici trademark. This combination proved itself to be a winner and we are honored that we were on the same stage last night to celebrate our joint efforts. We are thanking Bogdan and his team”, stated Anca Nuta, Identity&Communication Director, UniCredit Tiriac Bank.

“It is by no means the first achievement of this importance, we have been receiving during time, several awards for the best spots, prints or other campaigns, culminating with the awards for the best campaign and spots of the decade, received last year. But this year award is special from different points of view. First of all, because it comes not only in a time of crisis, but also in a time of client’s courage or of agency’s creativity. Secondly, because it’s received in a very difficult category and usually less creative, financial banking services.  Thirdly, because is the first edition of Art Director’s Club awards and I’m glad for the received recognition from my colleagues, the best Romanian creation directors”, said Bogdan Naumovici, 23 Communication Ideas founder.

About UniCredit Tiriac

UniCredit Tiriac Banks is part of UniCredit Group, European top bank which has the broadest network from CEE, counting 3.900 branches. 
In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products for all clients category. 
The bank aims to constantly focus on its clients, being a partner whom is easy to work with and to be a very active part of the communities.
UniCredit Group is present in Romania and through partners: UniCredit Leasing Corporation, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).
From 1st of September 2012 UniCredit Tiriac Bank collaborated with The Mark’s agency.

Writing for CEE 2012 goes to the Czech journalist Martin Ehl

20.11.2012

The Czech journalist and political analyst Martin Ehl is this year’s winner of the "Writing for CEE" European journalism prize. Ehl, a senior editor of the renowned Czech business daily "Hospodárské Noviny", wrote a series of incisive articles covering current issues in Europe. "Martin Ehl shows us how entertaining sophisticated, high-quality journalism can be," said Ambros Kindel, the chairman of the jury, in his praise of the winner.   

APA - Austria Presse Agentur and UniCredit Bank Austria will present the award for EUR 5,000 Monday evening in Vienna. The guest of honour at this year’s award ceremony will be Wolfgang Petritsch, the Austrian Ambassador to the Organisation for Economic Co-Operation and Development (OECD) and the former High Representative of the International Community for Bosnia and Herzegovina. His speech will be dedicated to the topic of "The EU and Southeastern Europe - Challenges and Prospects".
 
The annual award is meant to transcend the boundaries of editorial departments and national borders and to stimulate the journalistic examination of European issues and integration. The prize aims to encourage closer ties between countries and make a contribution to overcoming prejudice. 

The jury, which meets in various constellations, is made up of the Slovak journalist Michael Berko, the Bulgarian author Janina Dragostinova, the Czech communications expert Milan Smid, the communications advisor Ildiko Füredi-Kolarik, the Polish journalist Pawel Bravo, the Hungarian journalist Julia Varadi, the Slovene winner of last year’s award, Meta Krese, UniCredit Bank Austria’s CEE spokesman, Tiemon Kiesenhofer, and the CEE communications advisor and APA’s long-standing editor-in-chief for foreign affairs, Ambros Kindel.
 
The previous winners were the Czech journalist Lubos Palata (2004), the Bulgarian author Diana Ivanova (2005), the Bosnian journalist Sefik Dautbegovic (2006), the Austrian author Martin Leidenfrost (2007), Anna Koktsidou, a radio journalist who was born in Greece and raised in Germany (2008), the Austrian journalist Florian Klenk (2009), the Bosnian author Azra Nuhefendic (2010) and last year’s winner, the Slovene journalist and photographer Meta Krese. 
 
The winning entry, a selection of the texts submitted and additional information about the prize will be available online at www.apa.at/cee-award starting on 20 November. The prize will be awarded again in 2013: Submissions may be sent from now until 31 July 2013.

UniCredit Tiriac Bank supports the development of social enterprises in Romania, through a dedicated competition

19.11.2012

  • "Your Choice, Your Project" supports existing social enterprises, aiming at developping  and consolidating their activities.
  • Each of the four winning projects will receive a financial support of 7500 EUR; the beneficiary projects are: PRIETENIA Association - BIOHRANA Social Enterprise; "Ajutaţi Copiii România" Foundation- ALBĂ CA ZĂPADA Social Enterprise, RUHAMA Foundation, Oradea -PLAN INFO Social Enterprise and "Dezvoltarea Popoarelor" Foundation, Bucharest - PROIECT MOZAIC Social Enterprise.
  • UniCredit employees were actively involved, granting, through their votes, an additional award of 2000 EUR.


UniCredit Tiriac Bank and UniCredit Foundation, in partnership with NESsT Foundation Romania, sustains social entrepreneurship in our country, through a financial support granted to four projects, selected within  the “Your Choice, Your Project" contest. 

A social enterprise can be defined as a business meant to offer solutions to a severe social problem, in a sustainable way. One of the challenges that not -for- profit organizations are facing is finding a systematic, responsible and professional way to sale products and services, in order to enhance their social impact.

The collaboration between the three institutions has as starting point the insufficiently exploited potential of the field and the important benefits brought not only to directly supported social categories, but to society as a whole. In this context, “Your Choice, Your Project" addresses existing social enterprises, which demonstrated their sustainability, the financial support being directed towards their development and consolidation.

The four winning projects, chosen among the 19 social enterprises which answered the organizers’ call for projects, were evaluated according to a number of criteria in accordance with UniCredit Group’s values and policies, each one of them receiving a financial support amounting 7.500 EUR.

The projects which will benefit from  financial support are:

PRIETENIA Association - BIOHRANA Social Enterprises

BIOHRANA produces ecological vegetables and fruits, with the purpose of covering the needs of the Pantelimon Social Therapy Center and for sale. The project entails the construction of a bakery, which will create working places for people with intellectual disabilities and will provide the center’s daily need of bakery products, thus contributing  to its funding with up to 20% from the annual budget.

“Ajutati Copiii Romania" Foundation - ALBA CA ZAPADA Social Enterprise
“ALBA CA ZAPADA" is a protected unit that presently provides four types of services, performed by people with disabilities: laundry, cleaning, sewing and green areas cleaning. The project creates four new jobs in the cleaning team, through the purchase of professional equipment.

RUHAMA Foundation, Oradea - PLAN INFO Social Enterprise
PLAN INFO produces wickerwork, being established with the purpose of increasing the employment rate among the Roma population, by creating ten work places for the disadvantaged communities from Bihor. The project entails the leasing and setting up of a wicker plantation, promotes the workshop and covers the new employees’ salaries during the induction period.

"Dezvoltarea popoarelor" Foundation, Bucharest - PROIECT MOZAIC Social Enterprise
PROIECT MOZAIC is a social enterprise established with the purpose of involving disabled people, through a complex and creative activity: mosaic. The project aims to strengthen the social enterprise, through the diversification of the product range and the improvement of its quality level, maintaining 14 work places and increasing sales volume.

UniCredit employees were actively involved in this initiative, by designating, through their vote,  the beneficiary of an additional award in amount of 2.000 EUR, offered to BIOHRANA.

In this difficult period, social entrepreneurship represents an efficient solution through which we can intervene in those areas that need support, directly implicating the targeted beneficiaries. This is an example of an excellent use of business instruments with the purpose of producing social effects and contributing to the development of the community in which we live. Although relatively new in Romania, social enterprises represent one of the fields of interest for which UniCredit Foundation had developed projects starting with 2007, Thus, benefiting from our colleagues’ experience, we hope to be able to produce major impact changes also at a local level", declared Anca Nuta, Head of Identity and Communication, UniCredit Tiriac Bank.

In 9M 2012, UniCredit Tiriac Bank records a net profit of RON 146.8mn 18.4% higher than 9M 2011

13.11.2012

  • 14% year-on-year growth of customer loans;
  • 25% year-on-year growth of customer deposits;


8 November 2012 - In 9M’12 UniCredit Tiriac Bank reports RON 146.8mn (EUR 33.1mn) net profit, up 18.4% compared to 9M’11. In Q3’12 the reported net profit is RON 71.8mn, close to the performance obtained in the whole first half of the year.
Total revenues were RON 906mn (EUR 204mn) in the first 9M’12, down 1.3% year-on-year, mainly due to lower net interest margins driven by drop in benchmark rates, high price of deposit, higher deposit volumes and higher cost of funding. Operational expenses were up 3.5% year-on-year, at RON 471mn (EUR 106.3mn). Loan impairment dropped 19.4% year-on-year.

Return-on-equity improved versus 1H’12 (6%) and versus last year (6.9%) reaching 7.6%. Cost-to-income ratio for the period was 52%. 

Balance sheet total of the bank reached RON 23.8bn (EUR 5.2bn) at the end of September 2012, up 10.5% compared to a year ago, and up 4.2% year-to-date. Outstanding on-balance sheet loan portfolio is RON 17.6bn (RON 20.6bn including externalised loans), up 13.7% year-on-year and up 10.8% year-to-date. This includes 45% year-to-date growth in small business and 21% year-to-date growth in mid-size corporate portfolio. Customer deposits reached RON 12.4bn, up 25.1% year-on-year and up 7.6% year-to-date. This brought the Loan-to-deposit ration down to 142% which is 14 percentage points lower than a year ago.

Solvency ratio reached a comfortable level of 12.72%. Asset quality is stable. Annualised Cost-of-risk dropped from 162bp in 1H’12 to 154bp in 9M’12. 

In 3Q’12, the bleak EU markets situation and the local specific developments in Romania did not fuel much into business growth and turnaround of slipping economic trends. The accompanying business risks augmented. Margins stayed low and did not give much options but making further optimization steps. UniCredit supported by solid capital base and ample liquidity compensated also with business volume growth. Thus we registered increase in bottom line and good advancement in market positioning”, said Rasvan Radu, CEO of UniCredit Tiriac Bank. 


About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of UniCredit, easily the number one group on the CEE banking market, that operates by far the leading network throughout the countries of the region, with over 3,900 branches.
In Romania, UniCredit Tiriac Bank is one of the main financial institutions, with 209 branches and 595.000 clients, a trully universal commercial bank, providing high quality products and services for all the customer segments in the market. We are committed to generating value for our customers, we consistently strive to be easy to deal with and we are dedicated to the development of the communities in which we live.
In Romania, the Group offers a wide range of specialized products and services with the help of its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).

UniCredit Tiriac Bank and HOSPICE Casa Sperantei invites the public and companies to participate in a unique charity marathon

05.11.2012

  • The "1000Balkan Charity Challenge" marathon will take place between 10 and 19 November 2012 and the participants will run or cycle through 1000 km between Bucharest and Sofia, crossing Danube and the Balkan Mountains.
  • Companies and individuals are invited to subscribe to a spectacular adventure which combines passion for sport with the desire to support special humanitarian causes.
  • The funds raised with the occasion of the marathon will be used to support the projects of ten nonprofit organizations from Romania - for example, to care of the children who suffer of terminal diseases, which are in care of HOSPICE Casa Sperantei.


HOSPICE Casa Sperantei Association and UniCredit Tiriac Bank will organize between 10-19 November a unique charity marathon, between Bucharest and Sofia and return, for a distance of 1000 kilometers. "1000 Balkan Charity Challenge" marathon has the goal to raise funds for 10 humanitarian projects, for example taking care of children who suffer of terminal diseases, which are in the care of HOSPICE.

The Marathon will be a true adventure, because the trail implies crossing twice the Danube and Balkan Mountains, passing through places with spectacular landscapes, from 0 to 2000 meters altitude. That is how, the first part of the marathon, from Bucharest to Sofia will be crossed by bicycle, in three days, 150 km by day. On return the participants will pass the route running, for 7 days, 65 km by day.

The companies are invited to support the marathon and to contribute to the financing of 10 humanitarian projects, with amounts between 100 and 3000 euro. Also, the sports passionate who want to participate in this adventure are invited to subscribe until November 5th , based on available places. In exchange of a moderate fee, they can choose to go through the whole trail or just a part of it. Once entered in the race, the participants will choose a humanitarian cause to sustain and will try to convince their acquaintances to donate for it, during the 10 days of the marathon.

Details about the organizing of the marathon, about the ten humanitarian causes for which the funds are raised, about subscribes or other ways to get involved in the project can be found on the site: http://1000balkan.com. Also, during the marathon, photographs and updates about ongoing event will be published on the site, and the public will be able to make donations.

"1000 Balkan Charity Challenge" marathon is a premiere for Romania and also for Bulgaria, and its initiator is Stanislav Georgiev, CFO and Executive Vicepresident of UniCredit Tiriac Bank. Georgiev says that the idea of this initiative "is indeed a special one and I am proud to be an active part in organizing it, both as a representative of UniCredit Tiriac Bank and as an individual genuinely concerned with charity and civic involvement.

He also considers that "charity and sports are both domains which naturally appeal to people and we hope that this formula - combining biking and running with the aim of raising funds in the benefit of the supported foundations - will reach people’s hearts and will help not only raise awareness on the causes, but also on the great significance of the involvement of each of us. The fact that the route crosses through Romania and Bulgaria gives the particularity of the event and adds a symbolic value, in terms of the cooperation between the two countries".

The marathon will be organized with the logistic support of two specialized clubs, one from Romania and the other from Bulgaria, Ro Club Maraton and Begach Running Club. This way, the participants will benefit of the best conditions during the trail and will be accompanied by a support team formed by a doctor and two volunteers which will provide medical services, food and hydration.

Among the companies that sustain the event already are: Rompetrol, Hotel Pullman and Isostar, but other partners are expected to join also. 

UniCredit Tiriac Private Banking clients can benefit of the most prestigious investment consulting on the international market, through Schoellerbank

18.10.2012

UniCredit Tiriac Private Banking offers to its clients the opportunity to invest on the local and international market, through the strategic partnership signed with Schoellerbank, one of the long-term tradition institutions in Private Banking services from Europe, founded in 1833, UniCredit member, UniCredit Bank Austria subsidiary.

Private Banking clients that want to diversify their portfolio and to profit of innovatory, advantageous and secure solutions, through UniCredit Tiriac Bank, have the option to collaborate, under the highest standard of proficiency in the financial field, with the prestigious Schoellerbank.

“Our clients want safety and optimization for their capital, privacy, to receive coherent solutions, as a global financial offer and high quality services. In a single word, they want the excellence in the financial investment field. The Schoellerbank Partnership allows us to answer to the entire range of clients’ financial needs, offering this way the access to the complex external market products and services, and also to the specialized advising of our experts of one of the most prestigious institutions of Private Banking from Europe. The beginning of the collaboration with Schoellerbank took place in 2010, Private Banking international services becoming in time an integral and essential part of the additional value generated by UniCredit Tiriac Private Banking. This portfolio development was remarkable, both in terms of profit margins obtained, this way sustaining the business reason for both parts (client and bank), but also the clients’ satisfaction”, declared Anca Eremia Private Banking Director of UniCredit Tiriac Bank.

The options for the clients that focus towards a collaboration with Schoellerbank on the external markets, are numerous. Schoellerbank experts manage diversified categories of portfolios, with exposures on multiple risk profiles, including different classes of financial assets (bonds, assets, founds, derivates, goods) on any geographical region. For the last ones, the clients chose depending on the country’s exposure, activity field (finance, IT) or funds that are meant to protect against inflation. Minimum limit needed to collaborate with Schoellerbank is one million euro.

“If we are referring to investment options, the solution is most of the time a mix of investments, which is made according to the risk profile and client’s preferences. Regardless of the individual options that customers may have, Schoellerbank aims towards the security and optimization of customer’s capital, and our advisors are dedicated to create added value and to assure them the financial prosperity”, said Stephan Maxonus, Private and Institutional Investors Director, Schoellerbank.

The process through which a Private Banking client of UniCredit Tiriac Bank can access Schoellerbank’s services is very simple: after the discussion with the assigned investment advisor of UniCredit Tiriac Private Banking, the client meets with the Schoellerbank representatives from Vienna, then are identified the necessary details for the following potential collaboration: financial needs, a certain range of products and services, other relevant details to decide over a medium or long term investment plan. Administrative details like opening the accounts at Schoellerbank, after the client agrees with the collaboration conditions and shows his interest, are made together with UniCredit Tiriac Bank through the assigned investment advisor. Portfolio’s monitoring is carefully realized by the assigned team from Vienna, are set up regular meetings and constant briefings with established frequency according to each client.

UniCredit Tiriac Bank was awarded for The Best Bank Of Cash Management from Romania, by the Euromoney prestigious magazine

10.10.2012

  • UniCredit Tiriac Bank was named "The Best Cash Management Bank" from Romania, according to Euromoney Cash Management Poll 2012;
  • UniCredit Group was chosen "Best Cash Management House in Central and Eastern Europe" and Top 3 Cash Management House in Italy and Germany, according to the same survey;
  • UniCredit ranked first at global level and sub-categories "Industry expertise and knowledge", "Technical support and guidance", " Compatibility with clients’ systems";
  • Euromoney Survey gathered more than 17,000 feedbacks from international corporate;

 
Euromoney awarded UniCredit Tiriac Bank for "Best Cash Management Bank" from Romania, according to Cash Management Poll 2012, the results have been made public today.

"This reward represents a big achievement, which confirms that our constant efforts, to offer the best services and facilitate the access to the other market transactions are appreciated by our clients. We value the recognition of the companies and we will continue to focus on the improvement and development of our offers", said Marco Esposito, Executive Vice President of Corporate Investment Banking& Private Banking Division (CIB&PB) of UniCredit.

The same Poll shows that UniCredit is the favorite bank for Cash Management services, of international companies with transactions in CEE.

Euromoney also awarded UniCredit for the Cash Management performances in Italy and Germany, where the group is one of the leading three providers of these services.

UniCredit received the award for Best Cash Management House in Romania, Bosnia Herzegovina, Czech Republic, Croatia, Hungary, Poland and Slovenia. Euromoney’s poll gathered more than 17,000 feedbacks from international companies and was published today, being available on the journal’s website.

"Cross-border services represent one of the main pillars of the UniCredit’s corporate client’s strategy. Therefore, I’m extremely proud for the distinction attributed by our customers to our cash management services. In the last years we focused very much on the increase of our customer satisfaction in relation with the bank. This evolution was measured based on our clients’ interviews. Our example of service and decision making structures are oriented towards this issue, and the customers’ satisfaction is a key element in new product development. The recent Euromoney poll, and also the group’s awards confirm our strong beliefs that we must keep this path", added Gianni Franco Papa, Head of CEE Division, UniCredit.

This year’s survey designates UniCredit as the Best Cash Management Bank at global level, for 3 sub-categories: "Industry expertise and knowledge", "Technical support and guidance" and "Compatibility with clients’ systems".

New Mobile B@nking application from UniCredit Tiriac Bank

02.10.2012

  • Mobile B@nking application, launched by UniCredit Tiriac Bank, it’s compatible with the majority of mobile telephones, in any national or international mobile network.
  • The token used for the access to Online B@nking in the case of desktops/laptops is no longer necessary, due to the incorporation of security into the application program. The access is made only by using the mobile phone and a PIN which guarantees the safety and confidentiality of transactions.
  • With the new options, the bank wants to offer their clients complete, approachable and advantageous, long distance banking services. UniCredit Tiriac Bank wants to impose itself as the best bank with long distance access from Romania.

 
UniCredit Tiriac Bank launches the Mobile B@anking application, which allows clients to access banking services in any moment, with a minimum effort and in complete safety, by having a mobile phone with internet access. Thereby, UniCredit Tiriac Bank is one of the first banks from Rumania that implements the Mobile B@nking service for almost any type of mobile phone or tablet: iPhone, iPad, BlackBerry, Nokia, Samsung, HTC, LG, Motorola, Sony Ericsson etc.

The client can ask for the new aplication in one of the bank’s branches or by the already existent Online B@nking account, using the dedicated submenu. In maximum 48 hours, the client receives, through sms, from UniCredit Tiriac Bank, the necessary data for the application download and validating its own account. It’s very simple: the secured application is downloaded directly to the client’s phone/tablet. The application can be downloaded almost on any mobile phone, regardless of national or abroad mobile phone network.

Another innovation for the mobile phone banking services offered by UniCredit Tiriac Bank, compared to using a desktop/laptop, is the replacement of the token with a security program in the application. Mobile B@nking service is secure, the security device no longer being necessary, due to the incorporation of this special program. Thereby, the security code could be known directly from the mobile phone. The access to the application is, so protected by the activation code, the PIN code set by the client and the security code integrated by the application.

Mobile B@nking is very affordable and advantageous. With only 2 lei a month or no cost with some types of packages, the client has access to his accounts. For the transactions made through Mobile B@nking, the clients are charged the same fee for payments made through Online B@nking.

This type of services, Online B@nking/Mobile B@nking, allow customers to save significantly, taking into consideration that these transactions are free between UniCredit Tiriac Bank accounts or 50% cheaper comparing with those made at the tellers.

“We are willing to offer to our clients a more complete, advantageous and available at any time way to work. Mobile B@nking and Online B@nking represent one of the most dynamic services offered by our bank, because we are conscious that is very important to keep up with the technological innovations, to offer the best solutions", declared Bogdan Spuza, Marketing &Segments Director of the Retail Division of UniCredit Tiriac Bank.

The number of users of online banking services, provided by UniCredit Tiriac Bank has reached, at the half of this year, over 116.000 of clients, of which over 79.000 are individuals and 37.000 legal entities.
 
Transactions that could be made through Mobile B@nikng:
- Account viewing (history, transactions, no time limit)
- RON payments (standard and urgent)
- Transfer between accounts
- Payments patterns
- Cards
- Currency Exchange


Advantages
- Time saving  - the service is permanent. In addition, the clients profit of the professional technical assistance by phone, e-mail or online messages, from Monday to Friday between 8:00 am and 8:00 pm.
- Saving money  - The transactions made through Online B@nking are free between UniCredit Tiriac Bank accounts or 50% cheaper comparing with those made at the tellers in case of the transactions with accounts opened in other banks.
- Simple access and flexibility  - the service can be used non-stop from the phone, iPad or iPod, no matter where is the client, how long exists internet connection, the access being made by introducing the security code, not being necessary a device for logging and/or signature/validation of payments.
- Constant information  - the client can check in any moment the expenses made, being enough to check the history option. Also, receiving technical assistance by phone by any moment.


About UniCredit Tiriac Bank

 
UniCredit Tiriac Banks is part of UniCredit Group, European top bank which has the broadest network from CEE, counting 3.900 branches. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products for all clients category. The bank aims to constantly focus on its clients, being a partner whom is easy to work with and to be a very active part of the communities. UniCredit Group is present on the Romanian market through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).

Bonus Plus and Multi Depo, two innovative saving products

20.09.2012

Very advantageous interests and flexible maturities
 
The lei interest rate could measure 8,25% a year for the last 8 months of Bonus Plus deposit. The euro interest rate is 6,10% for the last period of the Bonus Plus deposit. For Multi Depo, the interest rate is 4,5% for 4 years.
 
UniCredit Tiriac Bank launches two new innovative saving products, for individuals. These products are offering two major benefits: very advantageous interest, specific to medium term deposit and maturity flexibility. In addition, the products’ structure represents a premier on the Romanian market, being conceived to adapt better to the needs that the clients may have during the deposit period.
The first of the two products, Bonus Plus, is an eight months term deposit, with two automatic renewal options, with interest paid every eight months and consistent interest bonus for the third period of the deposit. The product, which may reach a two year maturity, is available both in RON and in foreign currency (EUR and USD).

The interest rate for this product is fixed, settled at the beginning of the contract for all 3 deposit periods. At this time, the interest for lei deposit is 5,25% a year for the first two periods of deposit (8 months each), and for the last eight months (second renewal period to maturity), interest will be 8,25% per year (i.e. 5,25% + 3% bonus).

For the euro Bonus Plus deposits, the initial interest rate is 3,10% per year, available for the first two periods, and for the last period, it will reach 6,10% per year (3,10% +3% bonus). Also, the interest for USD deposit is currently 2% per year in the first 16 months, reaching 5% in the last period (2% + 3% bonus).

Every 8 months, the interest is paid in the client’s current account.

“Bonus Plus solution comes to support the clients that are looking for very important benefits in the same place: very advantageous interest, secure gains during the contract, regular payment of interest, which may represent a source for various expenses. We also address to those customers who want flexible ways to dispose of their savings in a short period (up to 1 year) and medium (2 years)” said Bogan Spuza Marketing & Segments Director, Retail Division, UniCredit Tiriac Bank.

Another important benefit for the customer is that if he wants to have the money from the deposit, during a period of maximum 24 months, can be withdrawn without any penalty. Depending on the time of dissolution, the period since the last deposit until the dissolution, shall be paid interest current account. 

For Bonus Plus, the bank doesn’t charge fees for opening, maintenance and closing. Also, the client doesn’t pay any commission to withdraw the amount of the deposit, in cash, maturity date, in any of the branches UniCredit Tiriac Bank.

The deposit aims towards the individual customers, residents or non-residents, existing and new customers, saving over 50.000 lei/10.000 EUR/12.500 USD, seeking solutions for medium term deposits.

The second product is a multiple maturities deposit and increasing interests. Multi Depo is a deposit for four years, available only in EUR and USD. The deposit has three intermediate anniversaries, each year, in the same day with the deposit initialization. The deposit can be dissolved in any of these anniversaries, with interest payment.

The interest rate is increasing every year and is applied to the entire period of its existence until last anniversary. The capitalization is made at the end of the deposit. The interest rate increases with each anniversary, from 3,75% in the first year to 4,50%per year for Multi Depo up to maximum period of four years, in euro. Similarly, the rate could reach 3,75% for deposit in USD, all for maximum maturity of four years.

In addition, if occurs the dissolution intervenes on another day than the anniversary, the clients benefit of a special interest rate, significantly higher than the one of the current account (currently, it is placed at 2% per year for EUR and 1,50% for USD).

“For Multi Depo, the customer benefits from a highly efficient product, with two major attributes. Flexibility: the client decides, depending on priorities, opportunities and needs, which is the period of the deposit, with the possibility of its liquidation at any of the three anniversaries, paying the interest without penalty. Even in case that will decide to terminate the deposit between anniversaries, receives a significant interest rate. The second attribute: certainty - by securing important gain for a period - 4 years, receiving fixed interest rates and growing from year to year, which applies, depending upon returning the deposit for the whole period", added Bogdan Spuza.

The minimum amounts for the Multi Depo deposit are EUR 10.000 and 12.500 USD. Bank doesn’t charge fees for opening, maintenance and closing for Multi Depo. Cash Withdrawal fee in the maturity day is standard.

 “We identified a need in the banking market for medium term deposits, better paid. New saving solutions complete our offer in this area, adding also the flexibility specific to the shorter maturities. We believe that we tried once again to cover as well as possible the range of needs and, why not, real life situations that UniCredit Tiriac Bank customers may face”, said Marketing & Segments Retail Director.

Bonus Plus deposits and Multi Depo are guaranteed by the Deposit Guarantee Fund in the Banking System.

Catalina Molnar is the new chief economist of UniCredit Tiriac Bank. Dan Bucsa has joined Unicredit Group London

18.09.2012

September 18th 2012 - Catalina Molnar is the new Chief Economist of UniCredit Tiriac Bank, and Dan Bucsa - which occupied this position until this moment - has been promoted within UniCredit Group, he will contribute to research and analysis activities for emerging markets, currently located in London.

Dan Busca joined UniCredit Tiriac Bank in June 2011, having a very valuable contribution to economic research conducted within the bank. From September 2012, he will join UniCredit Group’s research and analysis team from London, led by Gillian Edgeworth, Chief Economist for Eastern Europe, Middle East and Africa (EEMEA). Dan Bucsa new responsibilities will specifically target research activities for markets in Central and Eastern Europe. He has a PhD in economics and an extensive experience in economic research, including as Head of the Macroeconomic Forecasts of NBR.

Catalina Molnar, UniCredit Tiriac Bank’s new Chief Economist has over nine years of experience in research, as an economist at the National Bank of Romania (2003-2007) and later as Senior Economist in another commercial bank (2007-present). She graduated the Academy of Economic Studies of Bucharest, Faculty of Finance-Banks and a Masters Program in Macroeconomics DOFIN in the same institution.

Meanwhile, Mihai Patrulescu joined UniCredit Tiriac Bank being Senior Economist. He has a relevant experience as an analyst of macroeconomic framework in important financial institutions from Romania. Mihai Patrulescu graduated ASE and later Barcelona Graduate School of Economics, specializing in international finance, financial crisis, and sovereign debt economic policies.

UniCredit Tiriac Bank launches Spatial Poetry exhibition

13.09.2012

The public passionate about the contemporary art can admire the art pieces by the end of January 2013.
 
“Spatial Poetry” Exhibition is a premiere in Romania. In a unique way, UniCredit Tiriac Bank wants to present to the public valuable contemporary artwork, from the wide collection of UniCredit Group, through an exhibition located in the lobby of the headquarters 1F Exposition Boulevard, Bucharest.

The exhibition will be open to the public from 15 September 2012 to 31 January 2013, Monday to Friday, between the hours 10:00-20:00.

Therefore, during the inauguration of the new headquarters, the bank exposes four carefully selected artworks from the collection of UniCredit, which relate to the concept of space and its many interpretations. These works can be understood as an interrogation of physical space, but also the relationships that arise from human interaction with the space they occupy or create it. Unexpected presence of a Fernando Pessoa poem, as an integrated part of the exhibition, will accompany the viewer in this journey.

“Spatial Poetry Exhibition is another way in which we understand to get involved actively in the life and development of the communities in which we operate. To us is a big success the fact that we can share these artworks with the general public from Romania, belonging to very appreciated and representative artists of contemporary art. Penone and Campanini, for example, are emblematic of the Italian Arte Povera movement", said Anca Nuta, Identity & Communication Director of UniCredit Tiriac Bank.

Choosing Pessoa poet is not arbitrary, being present in one of the artworks in the exhibition, "The Biographer of the Parallel" by Matthias Bitzer (photo). This paper presents an imaginary portrait of the poet, which is in an spaceship explosion process that gives rise to spaces "parallel" or fictional, visual expression of his literary creation. Over time, Pessoa created a series of fictional authors - so called "heteronime" – being assigned a literary style to each of these characters.

"Through his abstract explosion models, Bitzner try to restore the possibility of a multiplicity of identities, stories and perspectives. This portrait of the author becomes a manifesto of human needs itself which is continuously negotiated through mental faculties: to be yourself, while being someone else”, said exhibition artistic curator, Adrian Dan.

An explosion of elements occurs in the work of Pierpaolo Campanini, where an unexpected conglomerate of components which are in a space suspension depends on a high structure while it remains "invisible". This construction interrogates complex spatial relationships between different forms of matter and questions the very "independent" their structure. The artist skillfully combines various artistic expressions such as sculpture, photography and painting, the ultimate goal is to redefine painting technique as an impersonal process, integrating objects with unexpected attributes, being at a distance that may refer to metaphysics memory.

In the series of works "Nelle mani Geometry" by Giuseppe Penone, the complex relationship between body and matter is explored through photography, as proof to man's creative process and the tensions that can trigger this process. Like other artists belonging to the movement of "Arte povera", Penone questioned the processes that gave birth to works of art, becoming a constituent part of it (earlier in his career, the artist has made a number of interventions in nature that became part of natural processes, so influencing further development of these living organisms).

For Andrei Roiter, space acquires a symbolic dimension, becoming "journey or pilgrimage way" and is an important source of inspiration for his work.

In "Tumbleweed", the idea of ​​transitional space in the form of a house in a delicate balance, "trapped" in a spherical shape. Transitory, precarious and ephemeral are attributes that are found in this work, being summarized at an exceptional level, which combines subjective experience of the viewer, specific artistic language of the author and a strong symbolic dimension with universal connotations.

“Navigating through the different space interpretations of the presented works, different aesthetic approaches and different expressions help us understand the valences of its lyrical depth, an attribute that could be defined as poetry space", said Adrian Dan.

Spatial Poetry is the first in a series of exhibitions in which will be exhibited works from the collection UniCredit Group, which will be open to the public exhibitions in Romania and will change with a frequency of 4-6 months.
 

About UniCredit Art Collection

 
Is one of the most valuable art collections owned by the largest companies in Europe. Remarkable for its historical extent, UniCredit Art Collection includes works of great diversity, from prehistoric Mesopotamian artifacts to works of masters such as Canaletto and Tintoretto. Among the tens of thousands of parts that make up this collection include works of famous artists and classical or modern, as Yves Klein, Fernand Léger, Giorgio Morandi, Kurt Schwitters, Giuseppe Maria Crespi, Dosso Dossi, Il Guercino, Oskar Kokoschka, and the brand of some of his contemporaries such as Christo, Georg Baselitz, Gerhard Richter, Andreas Gursky and Andy Warhol.

UniCredit Tiriac Bank, Unicredit Foundation And NESsT Romania - partnership to develop social enterprises in Romania

17.08.2012

UniCredit Ţiriac Bank, UniCredit Foundation and NESsT Romania have the pleasure of announcing a collaboration meant to support develoment of a field with a great deal of potential, and yet unexploited enough in Romania: social enterprises.  

A social enterprise is a business created with the aim of solving, in a sustainable manner, a serious social issue. Here are just two examples of social enterprises from NESsT Foundation Romania’s portfolio: a recording studio where books get a voice, so that blind people can enjoy them (Fundaţia Cartea Călătoare, Focşani) or an ecological greenhouse, with vegetables grown by people with intellectual disabilities (Asociaţia Prietenia, Pantelimon).

Every two years, NESsT Romania launches the Social Enterprise Competition, when non-profit organizations, cooperatives and Romanian entrepreneurs are invited to enter into the competition an idea of a social enterprise they wish to develop. NESsT selects those with a greater potential for social impact and market success and provides them intensive training and personalized consultancy on all levels, from drafting the idea to implementing it. NESsT involvement in development of social enterprises is on long term, depending on the business model and social impact, and the partnership relation can last up to eight years.   

UniCredit Ţiriac Bank and UniCredit Foundation support the launching of new social enterprises in Romania, by supporting The Social Enterprise Competition, but also by developing existing social enterprises and promoting them to a larger public. The involvement of UniCredit Foundation and UniCredit Ţiriac Bank represents a EUR 61,000 financial support and, respectively, specialized consultancy offered by employees to the participants of NESsT programme. The partnership of UniCredit Ţiriac Bank, UniCredit Foundation and NESsT appeared in a timely moment, as the next step in NESsT’s growth in Romania and, at the same time, in social enterprises’ growth, is a pioneering one : evaluating the expansion potential (scaling) of three social enterprises from the NESsT portfolio.

«Although social entrepreneurship is a new field in Romania, it represents a potential source of progress and growth. The initiative is all the more valuable as it is meant to support social categories that greatly need support, respectively to correct severe imbalances of the communities we live in. It is essential for our bank to be an active part of these communities in which we work and it is very important to continue to be vectors of positive change», said Anca Nuţă, Identity and Communication Director of UniCredit Ţiriac Bank.

”We are excited about the partnership potential of UniCredit and NESsT – we trust that this partnership will be long term and the development of social enterprises in Romania will greatly benefit from it”, added Roxana Damaschin-Ţecu, Director for Development of Enterprise for NESsT Europe.

UniCredit Foundation and UniCredit Ţiriac Bank will be actively involved in each step of the Social Enterprise Competition, not only through the mentioned generous financial support, but also, respectively, through direct mentoring for future social enterprises, in order to give them practical support in starting their activity. The ongoing competition (launched in October 2011) will end this autumn, on 7 November, on Social Enterprise Day, an annual event organized by NESsT. UniCredit Ţiriac Bank and UniCredit Foundation will grant on this occasion two of the five financial support awards for start-up for the finalists of the Competition.

About UniCredit Ţiriac Bank
UniCredit Tiriac Bank is part of UniCredit, easily the number one group on the CEE banking market, that operates by far the leading network throughout the countries of the region, with over 3,900 branches.
In Romania, UniCredit Tiriac Bank is one of the main financial institutions, a trully universal commercial bank, providing high quality products and services for all the customer segments in the market. We are committed to generating value for our customers, we consistently strive to be easy to deal with and we are dedicated to the development of the communities in which we live.
In Romania, the Group offers a wide range of specialized products and services with the help of its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).

About UniCredit Foundation 
UniCredit Foundation is a corporate foundation that was established in 2003 in order to contribute to the development of solidarity and philanthropy in the communities and territories where UniCredit operates, primarily in the regions where UniCredit is present (22 countries including Europe and Central Asia). Through the transfer of financial resources and the typical management skills of a company UniCredit Foundation supports projects of significant social impact and innovation, implemented by local non-profit organizations.

About NESsT Romania

NESsT is a non-profit organization with 15 years of international experience that aims at solving critical social problems in emerging countries through developing and supporting social enterprises. NESsT presently operates in Europe and Latin America (Argentine, Brasil, Chile, Croaţia, Czech Republic, Ecuador, Hungary, Peru, Romania and Slovakia). Since NESsT Romania was founded, in 2007, it organized two social enterprises competitions, the third being currently in progress. NESsT Romania’s strategic partner is Romanian American Foundation.

UniCredit Tiriac Bank registered a net profit of 51 million lei in the second quarter of 2012, double than the first quarter of 2012

03.08.2012

  • Loans volume rose by 18% between June 2011-June 2012;
  • Deposit portfolio increased by 30%;
  • In the first half of 2012 the net profit was 75 million lei.

UniCredit Tiriac Bank has registered a net profit of 75 million lei (17 mil euro) in the first half of 2012, according to International Financial Reporting Standards (IFRS), down with 19% compared to the first six months of 2011. In the second quarter of 2012, net profit was 51 million lei, over two times higher than in the first quarter.

Bank's total revenues were 591 million lei (134.6 million euro) in the first half, down 1.7% from the first six months of 2011. Income levels remained comfortable despite the negative impact of declining margins (on lower interest rates and foreign currency indicative), large storage costs, higher volumes of deposits from customers and higher funding costs. In the first half of the year, operating expenses increased 4% from the same period in 2012, to 312.7 million lei (71.2 million).

Loans provision has a favorable trend, falling by 5% in the same period of time. Annualized return on equity (ROE) was about 6%, leaving a solid level despite adverse market conditions, while the ratio between costs and revenues stood at 52.9%.

The bank's assets reached 22.7 billion lei (5.1 billion euro) at the end of June 2012, up by 10.8% compared to June 30, 2011 and slightly downhill (-0.7%) from early 2012. At mid-year balance sheet loans was 17.1 billion (19.3 billion including outsourced loans), increasing by 18.4% from June 30, 2011 and by 7.2% from early 2012. Therefore, the loan portfolio of UniCredit Tiriac Bank rose four times faster than that of the entire banking system in the first six months of the year due to increase by 28% of the portfolio of loans to SMEs * and 16% of loans granted to medium-sized companies **.

Customer deposits reached 11.7 billion lei (2.63 billion euro) at June 30, 2012, by 29.8% over the level recorded a year ago.

Despite the difficult economic situation, asset’s quality remained stable, and the annualized cost of risk fell from 1.95% a year ago to 1.62% in the first quarter of 2012. This is the proof the UniCredit Tiriac Bank’s portfolio quality and solid partnership with bank client’s.

“In the last six months, the banking market was affected by high volatility, fueled by internal turmoil and about the global economic prospects uncertainties. Nevertheless, the bank's performance was supported by the business model based on balanced growth and gradual transition by RON in our portfolio structure and attracting deposits turn, associated with good retention of the existing portfolio, remaining competitive in this time in terms of yields. We have improved the market position both on loans and attracting resources, despite diminishing demand. We were very careful to preserve efficiency, thus managing to have a stable, with a good level of liquidity and capital with a healthy margin. Despite negative external developments Fitch Ratings has reaffirmed the rating of the bank, the BBB + ", said Rasvan Radu, CEO of UniCredit Tiriac Bank.

Catalina Molnar is the new chief economist of UniCredit Tiriac Bank. Dan Bucsa has joined Unicredit Group London

18.09.2012

September 18th 2012 - Catalina Molnar is the new Chief Economist of UniCredit Tiriac Bank, and Dan Bucsa - which occupied this position until this moment - has been promoted within UniCredit Group, he will contribute to research and analysis activities for emerging markets, currently located in London.

Dan Busca joined UniCredit Tiriac Bank in June 2011, having a very valuable contribution to economic research conducted within the bank. From September 2012, he will join UniCredit Group’s research and analysis team from London, led by Gillian Edgeworth, Chief Economist for Eastern Europe, Middle East and Africa (EEMEA). Dan Bucsa new responsibilities will specifically target research activities for markets in Central and Eastern Europe. He has a PhD in economics and an extensive experience in economic research, including as Head of the Macroeconomic Forecasts of NBR.

Catalina Molnar, UniCredit Tiriac Bank’s new Chief Economist has over nine years of experience in research, as an economist at the National Bank of Romania (2003-2007) and later as Senior Economist in another commercial bank (2007-present). She graduated the Academy of Economic Studies of Bucharest, Faculty of Finance-Banks and a Masters Program in Macroeconomics DOFIN in the same institution.

Meanwhile, Mihai Patrulescu joined UniCredit Tiriac Bank being Senior Economist. He has a relevant experience as an analyst of macroeconomic framework in important financial institutions from Romania. Mihai Patrulescu graduated ASE and later Barcelona Graduate School of Economics, specializing in international finance, financial crisis, and sovereign debt economic policies.

Unicredit Tiriac Bank launches two exclusive products: a credit card for the corporate clients, a new debit card for Private Banking clients: Mastercard corporate credit card and Mastercard platinum debit card.

12.06.2012

UniCredit CAIB Securities Romania will start from June 1, 2012, the integration process with UniCredit Tiriac Bank. Embedding the investment services activities in the Division of Corporate Investment Banking & Private Banking (CIB & PB) of UniCredit Tiriac Bank will not impact any business brokerage operation, which already exists.

The clients will benefit of the same services and the same way of working, highly professional standards which positioned UniCredit CAIB Securities in the top three brokers in the capital market in Romania, with a market share of 8.21% *.

This convergence is considering taking advantage of synergies and optimal exploitation of local resources, relying further on the same strong commitment of UniCredit, the leading European bank.

*Market share refers to the January-May 2012 period and represents the BSE volumes, shares and fund units.

UniCredit CAIB Securities Romania, UniCredit Group's brokerage division in Romania has an undeniable experience, being present since 1996 on the Romanian capital market.

UniCredit CAIB Securities offers a full range of brokerage services in the Romanian capital market (Bucharest Stock Exchange trading) as well as on foreign markets, services for Romanian and foreign institutional clients and retail customers. The local analyzing team covers a wide range of sectors (oil and gas, financial institutions, pharmaceutical industry, utilities, natural resources and real estate), specialists having also responsibilities of sector analysis at regional level.

Corporate lending in Central and Eastern Europe 2012: financing to the corporate sector is holding up well

18.05.2012

Financing to the corporate sector is holding up well, but a diverging performance among countries is likely to persist 

- Cyclical sectors, which have been at the forefront of the economic recovery, look set to loose further strength in 2012
- Survey data reveal banks´ willingness to give sufficient financing improved over 2011 in the context of still low demand
- Availability of credit remains an essential pre-condition for output to return to its long-term trend

To date, bank lending to the corporate sector in the CEE region is holding up well, but a diverging performance among countries is likely to persist over the next months. This is one of the key findings of a recent analysis on corporate lending in Central and Eastern Europe run by UniCredit´s CEE & Poland Strategic Planning department. Larger economies such as Turkey and Russia saw a strong double digit growth in the demand for commercial loans until February 2012, whereas in smaller countries like the Baltics corporate financing is more than lackluster with even shrinking volumes. 

Improved business environment, but FDIs are recovering slowly

"As pointed out by the latest business climate indicator the forward-looking business sentiment of companies has improved recently. Nevertheless industry growth in the CEE region will be a small negative in the first quarter of this year due to a weaker external demand", said Gianni Franco Papa, Head of CEE Division at UniCredit. Important elements of differentiation would remain in place with short-term indicators pointing to a still fragile growth particularly in SEE. Apart from that cyclical sectors have lost some of their impetus since January. Only exception is machinery and equipment, which benefits from a steady demand in China. "Overall the business environment improved significantly over the past years, but regulation, judicial system, tax and political factors are still reported as important obstacles to doing business in CEE", explained the top-executive. 

Following 2008 crisis the CEE region experienced a large shift in the composition of capital flows. The portfolio component is now dominating in CEE, whereas FDI inflows have only marginally recovered from the trough relative to other emerging markets like Latin America or Asia and remain well below pre-crisis level. Generally speaking the trend is toward more short term portfolio capital instead of medium to long term capital. In the end fostering competitiveness remains a key challenge for the CEE region, which on the one hand still enjoys more favorable production costs than EU-15 in the context of still lower productivity on average.

Cost of credit and collateral perceived as major obstacles to the availability of credit

Firm-level data suggests a strong positive relationship between bank credit and investment activity especially in the recovery phase, confirming that availability of credit is an essential pre-condition for output to return to its long term trend. At the same time one must not neglect the important role of demand-side factors. Empirical evidence indicates also that the contraction in investment activity has been the largest in sectors having experienced an accelerated or booming dynamic in lending such as Bulgaria or Romania in the pre-crisis period. 

"The contraction in the availability of credit at the peak of the crisis led to a visible substitution in the sources of financing and implementation of cost cutting measures", reckoned Fabio Mucci, Head of CEE & Poland Strategic Planning at UniCredit. Thus many enterprises substituted bank loans with refinancing from parent companies and to less extent by bond issuance. Companies experiencing the largest contraction in the availability of credit during the crisis were also those recording a significant adjustment in labour costs to overcome liquidity problems. In the aftermath of the crisis, investment activity of most leveraged sectors lagged substantially behind that of the least dependent ones. 

"According to an UniCredit survey conducted with over 12,000 companies in 16 CEE countries banks´ willingness to give sufficient financing improved over 2011 in the context of still low demand", stated Fabio Mucci, "On a scale from 1 to 5, where 5 is the best mark, interviewees rated banks 3.77 on average in 2011 compared to 3.67 in the previous year." However, in a complimentary poll the majority of enterprises reported a tightening of credit conditions in 2011 with cost of credit and collateral requirements as major obstacles to the availability of credit. Demand-side factors are also playing a role with 44 per cent of companies having reported ‘no need’ among major reasons not to apply for a loan.

Corporate remains among the most attractive business segments as the level of their indebtedness falls well behind the Western European average with particularly untapped potential related to cross-border business. In the EMU corporate lending is about 50 per cent of the regional GDP, whereas in Turkey it accounts for 32 per cent, Russia 28 per cent and in Czech Republic 21 per cent for example. 


UniCredit is the leading corporate bank in CEE
UniCredit supports cross border business development and operations of companies through its extensive network of local banks in different CEE countries and through direct financing by its Western European subsidiaries in third countries. Over 1,650 relationship managers serve around 4,500 active German and between 2,000 and 3,000 Austrian and Italian clients operating in Central and Eastern Europe. They consolidate a personal in-depth knowledge of local CEE markets and a global banking product expertise leveraging on the products´ hubs in London, Munich and Vienna. 
Cross border business is a key pillar of UniCredit´s strategy for corporate customers, which is also confirmed by the bank´s superior performance in serving international clients. Referring to the latest customer satisfaction index all UniCredit segments perform better than the next global competitor, with international clients being the most satisfied customer group. 

UniCredit
UniCredit is a leading European commercial bank with strong roots in 22 countries. Our overall global network embraces approximately 50 markets, with over 9,500 branches and more than 160,000 employees (as of 31 December 2011).
In the CEE region, UniCredit runs the largest international banking network with more than 3,800 branches. The Group operates in Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Germany, Hungary, Italy, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

UniCredit Tiriac Bank is the first bank in Romania certified Top Employers Europe 2012

16.05.2012

UniCredit Tiriac Bank was certified Top Employers Europe 2012 by the Corporate Research Foundation (CRF), an independent research institute of HR standards and working conditions in European companies. In the process of identifying and auditing best employers, the bank has received this distinction alongside eight banks of UniCredit Group, which contributed to the financial group certification among Top Employers Europe 2012 for the second consecutive year, a first time in the history of CRF activity.

The bank becomes the first and only financial institution in Romania that ranks among employers with the highest standards and practices of human resource management in Europe.

UniCredit Tiriac Bank has undergone a research and audit processes in which were evaluated basic benefits, secondary benefits package and working conditions, training and development, career opportunities and company culture. CRF Institute methodology in selecting Top Employers is based on three levels of evaluation: a complex research based on factual information, interviews with company representatives and a comparative assessment of participating companies. The methodology is certified by the Ministry of Economy, Trade and Business Environment in the Netherlands, being audited by Grant Thornton research, one of the largest auditing firms in the world.

Alina Dragan, Executive Vice President Human Resources, UniCredit Tiriac Bank:

"The bank certification represents a confirmation of everything we do, to create a good working environment. Our colleagues have the possibility to engage in national and international projects, in a young and dynamic environment, allowing them to affirm and promote. This recognition also sets a benchmark for the future and we are determined to continue on the same way, to remain oriented towards performance in all areas of activity”.

David PLINK, CEO of the CRF Institute: "HR policies and practices that UniCredit makes available to its employees show that, for the financial group, talent management is a priority. The company provides to their employees not only things that interest in this moment, but things that can prepare for the next step in his career in the group. As Top Employer, UniCredit clearly demonstrates that appreciates and contributes to its employee’s development.

Paolo Cornett, Group Head of HR UniCredit: "The fact that this certification was obtained on 9 of the markets where we operate has a special value for us because it shows the efforts that are made to create an environment suitable for work are consistent in UniCredit entities. In fact, this is one of the strengths of UniCredit we offer our actual and potential employees”.

In 2012, nine multinational companies in various industries including the IT industry, transport and consumer goods obtained this certification. To become a Top Employer Europe 2012, it was necessary that every multinational company to meet a complex set of criteria in at least 5 European countries.

Unicredit Tiriac Bank in Q1 2012: substantial increases in the volume of loans and deposits, net profit of 24 million

10.05.2012

- 18% annual growth of the assets volume

- The loan portfolio rose by 22% between March 2011 and March 2012, two times faster than the overall banking market

- 28% annual growth in the volume of customer deposits (compared to 9.6% for the banking system)

- 8% y-o-y advance of gross operating profit

UniCredit Tiriac Bank has earned a net profit of 24.1 million (€ 6 million) in the first quarter of 2012, according to international financial reporting standards (IFRS), down 26.6% from the same period last year.

Gross operating profit increased by 8%, due to a 7.4% advance income and 7% for operating expenses. The ratio between costs and revenues remained at 51%. Income levels rose due to increased market share both for loan portfolio and deposit-segment and due to increased earnings from treasury operations.

Bank assets were 22.3 billion lei (5.1 billion Euro) at the end of March 2012, an increase of 17.5% compared to March 31, 2011, but down 2.5% from the beginning of the year. Balance sheet loans rose by 22.1% compared to March 31, 2011, with 2% compared to December 31, 2011, up from 16.2 billion (18.9 billion including outsourced credit). Customer deposits reached 11.1 billion USD, an increase of 28% compared to the end of the first quarter of last year.

"In the first three months of the year bank’s results recorded a good evolution despite economic slowdown in Romania. A crucial role in this regard had the quality portfolio of existing clients and new clients financing needs by exploiting strong financial position that UniCredit has as a local bank and international financial institution of systemic importance. Moreover, increased emphasis on lending in domestic and hopefully this trend will continue normalizing banking market”, said Rasvan Radu, CEO of UniCredit Tiriac Bank.

The solvency ratio stood at 11.1% at the end of March 2012, at a comfortable difference over the governed. Provisioning expenses rose by 21.5% compared to the first 3 months of 2011, but were maintained at the same level compared to the last two quarters of last year.

Bank asset quality is stable, despite deteriorating European economic and local outlook. In the first quarter of 2012, annualized cost of risk was 2.28%.

"We will continue to finance the Romanian economy in a prudent pace, but above the banking market, according to loan’s demand. Meanwhile, we will focus on improving the quality of risk indicators. We also aim towards a stable growth of deposits and a comfortable liquidity position. The opportunities for revenue growth will be limited this year due to market volatility and slow recovery of the economy, but we will continue to identify optimal solutions for financing and money management for our clients", completed Rasvan Radu.

Submissions now being accepted for the 2012 writing for CEE journalism prize

23.04.2012

APA and Bank Austria calling to think about Europe for the ninth time

The 5,000-euro Writing for CEE European journalism prize is up for grabs again in 2012. Journalists from all parts of Europe, including northern and southern Europe, southeastern Europe, Russia and the CIS states, are invited to submit their work for consideration. The pieces should reflect on life in Europe and the countries of Europe and on the hopes, cares and dreams of Europe’s people, and should contribute to closer ties between the countries and to overcoming prejudice.

Journalistic works that were published after 1 August 2011 will be accepted until 31 July 2012. Transcripts of radio and television programmes as well as online articles are also welcome. The winner will be announced and will receive the award at a gala event held in November 2012 in Vienna. The article in the original language, an English translation and the author’s curriculum vitae are required for entry. Additional information and the entry form are available online at www.apa.at/cee-award.

This prize of APA – Austria Presse Agentur and UniCredit Bank Austria is being awarded for the ninth time already, and is not an EU prize or a special prize for topics relating to Central or Central and Eastern Europe. “We expressly invite all European journalists to participate,” stressed jury chairman and APA editor-in-chief for foreign affairs Ambros Kindel. He added that while formal requirements do apply to the submissions, there are no restrictions with regards to topic.

In 2011, the prize went to the Slovene journalist and photographer Meta Krese for her reports on the living conditions of the Roma minority in her home country. “A visit to the Roma of Dolenjska” is the title of the critical yet moving piece that appeared in the Slovene edition of National Geographic in March 2011 accompanied by impressive photographs by Arne Hodalic. Laureate Meta Krese works as a journalist for several Slovene newspapers and magazines.

The guest of honour at least year’s award ceremony was long-time German foreign minister Hans-Dietrich Genscher, who talked about the current challenges confronting Europe and his political experiences in connection with the reunification of Europe. Genscher called for the return of the European Union to a union of stability as quickly as possible. He stressed the need for debt caps in the constitutions of the euro countries, and for automatic sanctions in the event of violations. The former German foreign minister noted that many have still not realised that the end of the Cold War ushered in a new world order.

The list of previous Writing for CEE winners consists of the Czech journalist Lubos Palata (2004), the Bulgarian author Diana Ivanova (2005), the Bosnian journalist Sefik Dautbegovic (2006), the Austrian author Martin Leidenfrost (2007), Anna Koktsidou, the radio journalist who was born in Greece and raised in Germany (2008), the Austrian journalist Florian Klenk (2009), Azra Nuhefendic, the Bosniak author living in Italy (2010) and Meta Krese (2011). Prominent guests of honour in past years included the deceased DDR civil rights activist Bärbel Bohley, the former Czech foreign minister Jiri Dienstbier, the former Slovenian president Milan Kucan and, most recently, Hans-Dietrich Genscher.

In addition to the previous year’s laureate, members of the jury, which meets in various constellations, include the Czech communications expert Milan Smid, the Slovakian publicist Michael Berko, the communications advisor Ildiko Füredi-Kolarik, the Polish journalists Igor Janke and Pawel Bravo, the Hungarian radio journalist Julia Varadi, the Bulgarian author Janina Dragostinova, UniCredit Bank Austria’s CEE press officer Tiemon Kiesenhofer and the chairman of the jury, APA’s editor-in-chief for foreign affairs Ambros Kindel.

Submission documents: www.apa.at/cee-award

UniCredit Tiriac Bank launches a guaranteed loan in lei with fixed interest mortgage in the first 3 years

09.04.2012

The bank supports customers who want to eliminate the currency risk and know exactly, for a long period of time, which will be the monthly payment for the contracted loan. Last but not least, the offer is one of the most advantageous markets in terms of cost, with an interest rate of only 8.3% to 8.7% for mortgage and real estate investment loans.

April 9 - UniCredit Tiriac Bank launches new mortgage lending products exclusively in lei, with a fixed interest rate for the first three years. It's about real estate credits, namely: housing loan, mortgage loan or investment property loan refinancing Umbrella.

Cost structure is very transparent and beneficial for the entire loan period: interest is fixed in the first 3 years and the fourth year interest rate is variable (Robor 1M/3M/6M + 4% for mortgage or Robor 1M/3M / 6M + 5% for personal loans with real estate warranty).

Representative example:


You can purchase a 200 000 RON loan with a household income of just RON 4,000.

For a purchase loan of 200 000 RON, granted for a period of 30 years, APR 9.54% (three years 8.3% fixed interest rate 8.56% then variable consists of Robor 1 month + fixed margin 4%) of monthly payment is 1545 lei. Analysis fee is 1290 EUR, the monthly management fee calculated on the balance of the credit facility 0.05%, and the total amount of payment at the end of the lending period is 579 983 RON.

Life insurance and legal opinion are paid by the bank, the customer having to pay these associated costs: appraisal, notary fees, registration fee and insurance to AEGRM building.

An important advantage is that the loans are only offered in lei, so monthly payment amount will not change according to the evolution of the exchange rate.

In addition, life insurance is free for loans under € 150,000 (equivalent to USD).

"Because we are aware of the challenging period that we are passing and we want to respect the needs of all our customers, we wanted to provide a very convenient option for financing for those who have a RON income and want to be protected from exchange rate fluctuations against major currencies: the euro and the U.S. dollar", said Bogdan Spuza, Head of Marketing and Retail Segments in UniCredit Tiriac Bank.

In 2011, UniCredit Tiriac Bank records net profit of ron 159mn under IFRS

21.03.2012

  • 10% year-on-year growth of total assets.
  • 17% year-on-year growth of customer loans.
  • 31% year-on-year drop in lending cost of risk.
  • Strong liquidity and capital position.
  • The consolidated total assets (pro-forma) of the Group business in Romania  are up 10% year-on-year, and its net profit is up 9% year-on-year.


UniCredit Tiriac Bank reports RON 159.4mn (EUR 38mn) net profit under IFRS, down 6.9% compared to 2010, due to drop in revenues. Net profit under RAS for the same period is RON 103.1mn, up 80.3% year-on-year, compared to a loss for the banking system. ROE (return on average equity) is 6.5% and ROA (return on average assets) 0.7%. The auditors’ reports on the bank’s financial statements are clean. 

Despite high increase in loans, the bank reports a 10.3% year-on-year drop in operating income to RON 1.2bn. This is due to a fall in net interest income largely because of the base effect of discontinued interest on arrears in 2010 and continuing impairment of loan portfolio instigated by the prolonged economic crisis. At the same time fee income from payments increased over 10%. Operational expenses are up 4.5% year-on-year reflecting government tax (mainly VAT) and guarantee fund rate increases, and also the impact of the new branch openings. Cost-to-Income ratio is 49.9%, better than the banking system. Solvency ratio is 11.4% under RAS (excluding current-year profit), above statutory norms. Net impairment losses (provisions) on financial assets (mainly customer loans) dropped 24% compared to previous year.

“We consider our performance of last year relatively good within the context of the overall economic situation and the performance of the market. We had the resources and the will to continue lending and thus supporting our customers’ business and the Romanian economy. We actually marked one of the highest lending growth in the market. Last year was not less harder for the financial services sector given the renewed market liquidity pressure, growing capital requirement on a global scale, augmenting credit risks and slackened economic growth”, said Rasvan Radu, CEO of UniCredit Tiriac Bank. 
The balance sheet total of the bank reached RON 22.9bn (EUR 5.3bn), up 9.9% compared to a year ago. Outstanding on-balance sheet loan portfolio is RON 15.9bn (RON 18.6bn including externalised loans), up 17.2% compared to 2010. Corporate loans grew 20%, small business ones 33% and mortgages 21%, while consumer loans dropped 20% year-on-year. Customer deposits reached RON 11.5bn, up 5% year-on-year, higher from private individuals. Loan-to-Deposit ratio at the end of the year is 138%. 

The consolidated total assets of UniCredit Tiriac Bank, UniCredit Leasing Corporation and UniCredit Consumer Financing grew 9.7% to RON 26.1bn (EUR 6.1bn) and shareholders’ equity by 5.6% to RON 2.5bn. The net profit of the group is RON 158mn, up 8.8% year-on-year.

Although tempered somewhat the asset quality deterioration trend continued. Over 90-day default rate reached 11.7% compared to 10.8% a year ago. Annualised Cost of risk however dropped a quarter to 204bp. Provision coverage of on-balance sheet loan portfolio went up to 8.3%. The amount of restructured loans ended at 17% of the portfolio, lower than last year. The bank’s asset quality remains better than the system and peer group.

Despite the subdued private consumption and bleak economic prospects in the country the bank realised partially its plans for expansion along with optimisation of its distribution network. At the end of the year the UCT operates with 245 branches (10 more than last year) and 2,983 staff (24 less than last year). 

Outlook

“We do not expect fast recovery of the Romanian economy in 2012 having in mind the Eurozone economy slowdown and still low local demand. This will go along with liquidity and capital availability and pricing challenges. Credit risk growth and margin pressure without much growth opportunities will further squeeze the income and profitability of banks. Consolidation, deleveraging, foreclosure and optimisation will be key management levers. Yet we see room for business growth in some areas such as SME and EU funds supported projects.Structurally, we will encourage RON lending and will keep control on self funding. UniCredit Tiriac Bank will develop solutions that will put into value these positive trends and will concentrate on sustaining SME and EU funds supported projects. Structurally speaking, we will encourage RON lending and we will take care of our financing sources”, said Rasvan Radu, CEO of UniCredit Tiriac Bank. 


About UniCredit Tiriac Bank

UniCredit Ţiriac Bank is part of UniCredit Group, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Ţiriac Bank is a true "one-stop-shop" for financial services, serving 568 thousand active customers through its 245 branches. In Romania, the bank is providing a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing and UniCredit Business Partner.

UniCredit Tiriac Bank brings to Romania We Will Fix It Campaign, initiated by UniCredit Group, Uefa Champions League sponsor

21.03.2012

Luis Figo is the Oficial Ambassador of UniCredit at international level

Are you a fan of football? Imagine another important event stops you from watching UEFA Champions League grand final, which you could hardly expected. UniCredit Tiriac Bank listens to your story and gives you a great chance to see both events. "Fix" represents the solving for the lucky winner.

If you're not passionate about round ball game, does not mean you cannot be involved in our surprise! If you have friends who are passionate about football you can do it yourself, with our unforgettable surprise.

“We Will Fix It” takes place in Romania between 19 March and 30 April 2012 and includes the group campaign components, and a number of local initiatives.

UniCredit, as the official sponsor of UEFA Champions League, launched in February new online communication campaign "We Will Fix It", designed to help football fans, but not limited to perfectly combine daily duties with passion football.

In Romania, the campaign can be seen on www.unicredittiriac.ro/ucl or www.facebook.com/UnicrediTiriacBank - “We Will Fix It". The main message of the campaign is: Tell us what stops you to watch UEFA Champions League Final on 19 May. And we will solve the problem!

The campaign’s mechanism is simple: the participants write on the special microsite or bank’s Facebook page what stops him to watch the Final on 1 may 2012, a jury will decide which problem will be solved by UniCredit Team, Fix It. The nominated one will be informed that he won, but the solving of the problem remains a surprise. One of the most important features of the "We Will Fix It" campaign in Romania is that the first 300 issues submitted and validated will be awarded automatically with backpacks, balls, caps and other prizes branded with UEFA Champions League logo.

So what can be done if an important match of UEFA Champions League coinciding with the anniversary of a family member or overlaps with an important business dinner? Luis Figo, the Official UniCredit Ambassador for the UEFA Champions League and Team UniCredit Fix It (represented by bank employees) are working to find the best solution for you.

UniCredit Group has already solved the dilemma of a football fan on Valentine's Day: he was eager to see their favorite team play at Leverkusen and his girlfriend was expecting a romantic evening out, in which to celebrate love. UniCredit Team Fix It and Luis Figo solved a problem that apparently didn’t have a solution and had organized for the couple an unforgettable evening: he could watch the game, and she had an amazing surprise. This initiative was filmed, and the video can be viewed on www.wewillfixit.eu.

"This campaign is an excellent idea, because it involves both football fans and those who are not fans," says Luis Figo, who enthusiastically promote the campaign and encouraged people to participate for the chance to solve the problem occurred of overlapping passion for football with everyday life.

UniCredit Group campaign “We Will Fix It” and the solution may be seen online and on YouTube:

www.youtube.com/unicreditchampions or www.youtube.com/unicreditchannel.

UniCredit and Alma Mater Scholarship Graduate School announce enrollment in MBA program specializing in retail banking, 2012 edition

20.03.2012

UniCredit Group, one of the leading banking institutions in Europe and Alma Mater Graduate School, University of Bologna, announce the enrollment for the 5th edition of MBA Retail in the Banking and Financial Industry, dedicated to future leaders in finance. The edition 2012 of the program will begin on 1 October 2012. Applications can be sent in two stages: until 2 April 2012 and between April 4 and July 2, 2012.

Retail in the Banking and Financial Industry takes place during one year period; being structured in General Management courses, specialized courses and an internship of three months (June-September 2013) in the Retail Division of UniCredit Group, which involves working on a specific project. It addresses to young professionals looking to gain management skills for a career in the financial industry.

Applicants must be graduates of an institution of higher education with at least 2 years professional experience (not necessarily in this field) and a proficient user of English language.

Best of the participants will receive partial and full scholarships between 10,000 and 27,000 Euro. Also, candidates will have access to preferential loans to cover full tuition fee or to complete the amount needed to cover this fee. In addition, meeting the same preferential conditions, they can get a loan of up to EUR 10,000 for personal expenses incurred during the academic year.

To learn more about the selection process and to apply can access:

http://www.almaweb.unibo.it/internationalmba/retailInTheBankingAndFinancialIndustry.

New exclusive products for corporate and private banking clients

13.03.2012

UniCredit Tiriac Bank launches two exclusive products: a credit card for the corporate clients, a new debit card for Private Banking clients: MasterCard Corporate Credit Card and MasterCard Platinum Debit Card.

-              MasterCard Corporate Credit Card is an innovative product, designed to help the companies’ shareholders or managers through a better and more flexible management of the flow of everyday expenses.

-      Platinum debit card was created for Private Banking clients in order to offer more benefits, both in relation to the bank but also in everyday life.

-      Both products have a sophisticated benefits program, differentiated according to the customer group target, which includes access to premium discounts in VIP lounges of international airports or travel insurance performance.

"The new products come to complete banking experience that UniCredit Tiriac Bank provides to Corporate and Private Banking customers. For us it’s important to provide real solutions and financial benefits, and at the same time to be a true partner, to provide advice and assistance whenever our customers need", said Marco Esposito, Executive Vice President responsible for Corporate Division Investment Banking & Private Banking at UniCredit Tiriac Bank.

"In addition to the features that UniCredit Tiriac Bank put together to create two card programs relevant to companies and Private Banking individual clients, the products presented today come with a number of advantages thanks to Elite MasterCard. Whenever using the card in partner stores in Romania, customers have discounts up to 30% or bonuses, such as privileged experience, additional services or counseling. All these benefits turn the cards launched by UniCredit Tiriac Bank into more advantageous products, than a business card or a debit premium in Romania", said Cosmin Vladimirescu, Country Manager Romania and Moldova, MasterCard Europe.

I.              MasterCard Corporate Credit Card

Banking features

Premium is a credit card, embossed, with chip, with a grace period, issued under MasterCard brand, addressed to corporate clients. Due date for this product is 15 of each month and the amount to be paid monthly at least 15% of credit used + 100% interest + 100% fees. The grace period can be up to 45 days *. Minimum credit limit is EUR 200, maximum 5.000 EUR / card in the limit of 250,000 EUR / company. In addition, daily transaction limits are 10,000 EUR / card for use in ATMs and 17,000 EUR / card transactions directly with the merchant card (POS). A very important advantage, that is ensuring transparency and good control of transactions is that the bank statement is sent to both company and individual cardholder.

II.        MasterCard Platinum Debit Card

Banking features

Is a Premium debit tool, embossed, with chip, issued under MasterCard brand. Private Banking Clients which benefit of this product have a series of advantages such as wider trading limits: 20,000 USD / day 20 transactions / day, both for-sale payment (POS) and for ATMs, with possibility to modify the request. Also, you can attach up to 5 current accounts in the following currencies: automatic RON, EUR, USD, GBP and CHF request. It also can be issued upon request, one or more additional cards for the same client accounts.

III.           Benefits programs attached to mew products

Mutual benefits of the two cards:

-      Protection from accidents with serious consequences during the trip abroad. This program is offered free of charge by UniCredit Tiriac Bank in partnership with CHARTIS Romania and offers insurance available in case of travel abroad, for a period not exceeding 60 consecutive days from departure.

-      Medical assistance 24 hours a day, for traveling abroad.

-      Insurance "Card Protect" from Chartis Romania.

-      Discounts at partner merchants of UniCredit Tiriac Bank or MasterCard through exclusive programs such as the program offered by MasterCard Ellite .

-      Within the Priority Pass program, the cardholder has free access to over 600 airport VIP lounges worldwide. In Romania, the access is provided for lounges in Cluj-Napoca and Timisoara. In addition, UniCredit Tiriac Bank offers free access to its own lounge Henri Coanda.

-      Regardless of the option card holder for an airline, flight class or belonging to other loyalty programs, VIP lounges participating in the Priority Pass program offers a pleasant environment in which the client can work or simply relax while traveling.

Extra Benefits for MasterCard Corporate Credit Card:

-      An exclusive advantage offered by Corporate Card is the occupational ensuring, that enables covering the industrial accidents risk on Romanian territory, one of the few attached to a card on the Romanian market.

-      Cardholders receive travel insurance if you have used the card in the last 3 months before producing one of the insured events.


Extra Benefits MasterCard Platinum Debit Card:

-          Insurance and access to the assistance service at the address communicated by the Mondial Assistance.

-          Discount program in Regina Maria Health Network.

-          In addition, MasterCard Platinum Collection offers to its Platinum cardholder’s discounts within an international level, partner network.

UniCredit Tiriac Bank opens the first branch on Facebook in Romania

02.03.2012

UniCredit Tiriac Bank invites Internet users to cross the threshold of the first virtual branch bank opened in Romania on Facebook: e-Branch, UniCredit Tiriac Bank.

One of the most important advantages of e-Branch is click-to-chat option. Through this service, e-Branch UniCredit Tiriac Bank viewers may request live information from bank’s consultants without leaving the social networking platform, according to the same program of bank’s Info Center (you can see here).

"Bank’s consultants are available to those interested in information and advice about our products and services. This is made in a private and secure chat session. We built this project to support a real and useful dialogue with the people who visit our site" said Anca Nuta, Head of Identity & Communication at UniCredit Tiriac Bank.

According to regulations, users can provide personal data through click-to-chat, when confidential data is needed, it will be established by agreement how will continue the phone call (by phone or in one of the bank branches).

In addition, when Facebook users enter the e-Branch UniCredit Tiriac Bank, can benefit of a range of services and useful information in the interaction with the bank both in the online and in the offline:

-          Easy access to Online B@nking & BusinessNet;

-          They can download brochures about services and UniCredit Tiriac Bank programs, to individuals or legal entities;

-          UniCredit Tiriac Bank may check out a map to locate the nearest branch or ATM network BNA;

-           They can check the exchange rate, updated in real time.

Last but not least, virtual booth dedicated to social responsibility projects undertaken by the bank, keeps users up to date on the latest initiatives: PAVILION - center for contemporary art and culture, supported by UniCredit Tiriac Bank, UniCredit Literary Debut Competition, UniCredit Tiriac Bank involvement in supporting the George Enescu International Festival and the first rental center in Bucharest, Cicloteque.

Active and updated with complete information about UniCredit Tiriac Bank products and services also remain on the bank's website - www.unicredittiriac.ro.

Strategy and project implementation were made by Republika Interactive online agency of UniCredit Tiriac Bank.

About UniCredit Tiriac Bank

UniCredit Tiriac Banks is part of UniCredit Group, European top bank which has the broadest network from CEE, counting 3.900 branches. In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products for all clients category. The bank aims to constantly focus on its clients, being a partner whom is easy to work with and to be a very active part of the communities.

 UniCredit Group is present on the Romanian market through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Integrated Solutions (UBIS).

UniCredit Tiriac Bank is the first bank in Romania that provides direct cargo services to all mobile networks

08.02.2012

UniCredit Tiriac Bank launched earlier this year a new service that allows prepaid mobile phone cards recharging at any ATM or BNA, without any additional cost for the clients.

For the first time on the Romanian bank market, UniCredit Tiriac Bank offers an affordable, fast and convenient solution for the card recharging of any major mobile operators: Vodafone, Orange and Cosmote.

Not only the recharging process is very simple, but reloading is automatic, the client no longer needs to send to the operator a code and wait that the amount would transfer on the card. Now, with this recharging solution, the amount is immediately loading. The service is available for the entire ATM network of UniCredit Tiriac Bank, using the card from any bank, or for any BNA, using a banking card or cash.

“It is very important for us to offer innovative and advantageous solutions, which would help the clients to save time and effort. We consider that by launching recharging service we managed once again to do this – for any prepaid card holder, being confirmed by the large number of recharging made during testing” said Bogdan Spuza, Marketing & Segments Director, Retail Division of UniCredit Tiriac Bank.

UniCredit Tiriac Bank network currently has about 460 ATMs and 98 of the BNA's, the latter can be used for multiple transactions: Cash withdrawal and deposit, payment of utilities, exchange, formation of deposits etc

UniCredit Tiriac Bank - financing package for farmers who benefit from the APIA grants

25.01.2012

UniCredit Tiriac Bank has signed the General Convention with APIA (Agency for Payments and Intervention in Agriculture) and tripartite agreements with APIA and FGCR (Rural Credit Guarantee Fund) for funding working capital for current activities by beneficiaries of complementary national direct payments in livestock species: cattle, sheep and goats.

Also, UniCredit Tiriac Bank plans to sign in the near future convention on financing working capital for current activities by beneficiaries of State aid to achieve voluntary commitments bird welfare or the welfare and protection of pigs.

Common Agricultural Policy (CAP) is supported by two instruments: 1) the European Agricultural Fund for Rural Development - EAFRD, which is funded by the National Rural Development Program (RDP) and 2) the European Agricultural Guarantee Fund - which supports special EAGF direct payments per ha (SAPS) and the restructuring / reconversion of vineyards.

For SAPS, Romania will benefit in 2012 of over one billion euro in EAGF, and one of the priorities of the Bank will be providing financing facilities to farmers who apply for area payments starting on March 1.
There are European funds in Romania that are absorbed almost 100%.

In the first four years after accession, Romania EAGF funds received over 2.3 billion euro. The absorption of these funds was slightly below 100%, EAGF currently being European financial instrument with the highest uptake in Romania.

Farmers have benefited also from support measures financed from the national budget, both for the vegetable sector (Complementary National Direct Payments - vegetable PNDC) and livestock (PNDC - cattle, PNDC - sheep and goats, poultry welfare / pig) who registered, in turn, a high absorption rate.

UniCredit Tiriac Bank offers a complete package of funding to the farmers that are receiving EU funds and national grants, both through financing facilities dedicated to providing working capital through the receiving subsidies managed by the PIAA, and through bridge loans, investment loans, letters of guarantee banking and letters of comfort for investment projects through the National Rural Development Program (RDP).


About UniCredit Tiriac Bank

UniCredit Tiriac Banks is part of UniCredit Group, European top bank which has the broadest network from CEE, counting 3.900 branches. 
In Romania, UniCredit Tiriac Bank is one of the main financial institutions, offering high quality services and products for all clients category. 
The bank aims to constantly focus on its clients, being a partner whom is easy to work with and to be a very active part of the communities.
UniCredit Group is present in Romania and through partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Partner.

UniCredit Tiriac Bank launches new savings products

20.01.2012

UniCredit Tiriac Bank has launched two new savings products for individuals: medium to long term deposits and savings plan.

A. The term deposit of 2/3/5/7 years is a unique product that addresses to those customers that are seeking advantageous solutions to place savings on longer periods while having availability.

The interest rate is fixed for the deposit and also competitive on the Romanian banking market, interest paid at the end of the period for which the deposit was formed. The product is available in RON, EUR and also USD.

In addition, whenever the client decides to withdraw money before the end of the deposit, the final value will be higher than the initial value, the interest received being, even in this situation, meaningful.

During the contract period, the amount placed is 100% guaranteed, and the client knows from the beginning how much has earned at any time during the contract. In addition, being banking deposit benefits also of the guarantee of Deposit Guarantee Fund.

Interest rates are:

Product 2 years 3 years 5 years 7 years
RON 7% 7% 7% 7%
EUR 4,5% 5% 5,5% 6%
USD 3,5% 4% 4,5% 6%


The interest rates applicable to early withdrawals, depending on the year in which they are contractually, are:

Withdrawal year 1 year 1 - 2 years 2 - 3 years 3 - 4 years 4 - 5 years 5 - 6 years 6 - 7 years
RON 4,75% 5% 5,25% 5,5% 5,75% 6,25% 6,75%
EUR 2,5% 3% 3,5% 4% 4,5% 5% 5.50%
USD 1,5% 2% 2,5% 3% 3,5% 4% 4,5%


B. The second product launched by the bank is the saving plan, product designated to those customers who aim to save a monthly amount of money, receiving also an interest that is monthly capitalized.

Depending on the chosen monthly amount, the interest rate is:

Deposit limit Interest rate
RON EUR
< 500 RON or 100 EUR 5% 1,75%
500 RON or 100 EUR 5,5% 2,25%


Whenever a client needs to withdraw money, this account can be accessed. In addition, the customer can modify the monthly additional amount, according to his needs.

"Considering that in the new market context, there is a long term saving tendency, UniCredit Tiriac Bank launched the Savings Plan and the Deposit on medium or long term, two types of products that offer concrete answers and real benefits to customers who want to save", said Bogdan Spuza, Marketing and Segments Director of UniCredit Tiriac Bank.

"Following customer needs, we are developing flexible products that guarantee to the customers significant gains" continued Bogdan Spuza.


About UniCredit Tiriac Bank

UniCredit Tiriac Banks is part of UniCredit Group, European top bank which has the broadest network from CEE, counting 3.900 branches. 
In Romania, UniCredit Bank Tiriac is one of the main financial institution and the only one that has a medium and long term expansion plan already started, providing financial products and services of high quality for all clients through a network of over territorial 240 branches.
The bank aims to constantly focus on its clients, being a partner whom is easy to work with and to be a very active part of the communities.
UniCredit Group is present in Romania and through partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Partner.


UniCredit Business Integrated Solutions, the global service company of UniCredit is launched

05.01.2012

UniCredit Business Integrated Solutions SCpA is the first concrete milestone within the Group Strategic Plan 2012 announced in November 2011 to be achieved. The company will provide operational services and support to the UniCredit Commercial network.

UniCredit Business Integrated Solutions, owned 100% by UniCredit, is created from the integration and consolidation of 13 Group companies, and is dedicated to providing services in the sectors of Information and Communication Technology (ICT), Back Office and Middle Office, Real Estate, Security and Procurement.

It is one of the first service companies to be created at European level and its’ aim is to consolidate and reorganize those operational activities necessary for the correct functioning of the Groups’ business, by optimizing costs, leveraging on a more flexible delivery and an improved response time.

One of the first objectives of UniCredit Business Integrated Solutions is the reduction of 16% within 2015 of direct costs. 

"The set up of a global operational machine, multifunctional and completely dedicated to the changing business needs - affirmed Paolo Fiorentino, Chief Operating Officer of UniCredit and Chairman of UniCredit Business Integrated Solutions - is an important milestone achieved within the Group Strategic Plan, which will allow us to set challenging objectives in line with the Groups’ expectations".
 
The company will also be responsible for all the strategic innovation for the Group, in order to identify – with the commercial divisions of the Bank - cutting edge solutions which will improve and widen the services offered to the Client.

Paolo Cederle, CEO of UniCredit Business Integrated Solutions, also stated that "we have adopted a new business model, unique in the European banking sector, which caters to the needs of each Client, instead of only to the provided services.  Our Network can count on Business Lines which are dedicated to specific services needs. Agility, quality, and the rapidity to support the commercial taskforce will be the key for our competitive strategy".

The new company includes more than 13.000 people and will oversee activities in 11 countries: Austria, Germany, Italy, Poland, Great Britain, Czech Republic, Romania, Slovakia, Hungary, USA and Singapore.

The operations in Italy, Germany and Austria will be managed directly by the Global service company, as well as the coordination and the checking of the business activities within the CEE countries in line with Holding guidelines, with the aim to promote and support growth over time.

The services have been designed with an international approach in order to spread efficiency and economies of scale, maintaining the focus also on the specific local needs to further consolidate the sense of loyalty with the Client.

UNICREDIT TIRIAC BANK OBTAINS A NET PROFIT OF 122 MILLION LEI IN THE FIRST 9 MONTHS OF 2011

UniCredit Tiriac Bank obtained a net profit of 122 million lei, according to the International Financial Reporting Standards (IFRS), in the first nine months of the current year, 43% less compared to the results obtained in the similar interval of last year. Measured according to the local accountancy standards (RAS), on the same period the net profit of the bank was of 153 million lei.

The bank registered revenues of 916 million lei (EUR 218 million) in the first nine months of the current year, 10.4 % less as compared to the similar interval of 2010, but 1% more calculated in similar conditions, removing the impact of adjustments imposed by regulations and accountancy changes implemented last year. In the third quarter of 2011, UniCredit Tiriac Bank registered revenues equal to those obtained in the second quarter and more than those of the first three months of 2011.
The net revenues from other sources beside interests (such as commissions and market operations) went up 9.3%, while the net revenues from interest went down 18.4%, being affected by the reduced volume of economic activity and the impact of legislative changes. 

Operational expenses went up 6.2% between January and September this year, compared to the first nine months of last year, influenced by the inflation and statutory adjustments imposed by market regulations. The cost and revenue ratio was of 49.6%.

The solvency rate is at the comfortable level of 11.2% according to RAS. The coverage with provisions of the portfolio is 6.6%.

Assets volume amounted to 21.6 billion lei (EUR 5 billion) at the end of September 2011, 7% more per year. The balance credit portfolio has gone up 16.5% compared to the value registered on the 30th of September 2010, up to 15.5 billion lei (EUR 3.6 billion), the rate being over the average registered in the banking system. Clients’ deposits amounted to 9.9 billion lei (EUR 2.3 billion).

"Modest economic growth and the external uncertainties have affected the Romanian market and also the consumer behaviour. In addition, we see a reduced appetite for risk and tightening of regulations in the global arena, but also at local level. All these factors affect the fundamentals of the banking activity, where margins are under pressure and the costs are constantly increasing. We compensate for these negative trends with a more active commercial strategy, offering customers greater opportunities in these difficult times. We carefully follow the market evolution to cope with possible turbulence through flexibility and attention to the consumers," said Rasvan Radu, CEO UniCredit Tiriac Bank.

Total consolidated assets of UniCredit Tiriac Bank, UniCredit Leasing Corporation and UniCredit Consumer Financing amounted to 24.9 billion lei (EUR 5.7 billion) at the end of September 2011. The Group's net consolidated profit amounted to 122 million lei in the first nine months of 2011, while the bank share capital amounted to 2.4 billion lei (EUR 556 billion).

UNICREDIT TIRIAC BANK APPROVES THE FIRST LOANS THROUGH KOGALNICEANU CARD PROGRAM

14.11.2011

UniCredit Tiriac Bank granted the first credit line within Kogalniceanu card program for beneficiaries approved by the Agency for the implementation of projects and programs for SMEs (AIPPIMM).

"With our active presence in Kogalniceanu card program, we would like to once again meet our customers needs. The facility allows SMEs customers to obtain bank financing for the main categories of expenditures necessary for carrying out their current activities, such as supply / sale, execution of works and / or services, salaries and other related expenses. An important advantage is the fact that AIPPIMM will pay every month the subsidized interest, which is up to 70% of its value, but not more than 6.5% / year, "said Bogdan Spuza, Marketing and Segments Director within the Retail Division of UniCredit Tiriac Bank.

Once the client submits all the documents requested, the period of time in which the Bank approves the credit line is between 7 and 14 days. 

Kogalniceanu program for SMEs is a multi-annual instrument aiming at encouraging and stimulating the creation and development of SMEs in the period 2011-2013, which consists in granting credit lines of up to 125,000 lei / SME / year. The interest is partially subsidized and, where appropriate, the loan is guaranteed by FNGCIMM, in the name and on behalf of the state. AIPPIMM pays the subsidized interest only after the SME pays the interest that owed, under the credit line agreement.

The beneficiaries of the program will have to provide to the Bank collateral guarantees for at least 40% of the loan value. If the beneficiaries do not have sufficient collateral securities to fully cover the credit, they can go for the FNGCIMM guarantee.
The credit line will be used only for the types of expenditures which are eligible under the program and on the basis of evidence-documents, the clients not being allowed to use the credit line in cash.

NEW UNICREDIT TIRIAC BANK BRANCH OPENINGS

11.10.2011

UniCredit Tiriac Bank has opened five new branches, of which two in Bucharest, two in the city of Constanta and one in the city of Bacau.

"We wish to position ourselves as close as possible next to our clients and local communities, prove them we are an easy-to-work-with partner and we actually meet their level of expectations and exigencies. We are glad to announce the new branch openings, part of a vast development plan, which UniCredit, as an European bank, has for the market in Romania", stated Emanuele Butta, Vice-president, in charge with the Retail Division of UniCredit Tiriac Bank.

In the capital city, the bank has inaugurated Gara de Nord Branch (1 I.G. Duca Street) and Bucur Obor Branch (2 Colentina Road, ground-floor, within Bucur Obor shopping centre), thus reaching a total number of 54 units in Bucharest.

In the city of Constanta, UniCredit Tiriac Bank has opened two new branches, one within the Constanta Harbour, at the entrance of Gate 1, and another one in Mircea cel Batran Street. These two inaugurations come to consolidate the bank presence in the city of Constanta, where there were already 11 branches.

The branch inaugurated in Bacau is in 25 Energiei Street and this is the sixth UniCredit Tiriac Bank unit opened in this city.

"Notwithstanding the difficult economic context, both at national and international level, UniCredit Tiriac Bank has permanently supported its clients in getting through the daily challenges together. Furthermore, we wish to assure you of our commitment in the long run in order to be able to progress together", added Emanuele Butta.

By the opening of the new five branches, UniCredit Tiriac Bank currently reached a national network counting 240 units.

IOANA TANASE NAMED IN CHARGE OF UNICREDIT CAIB SECURITIES

16.09.2011

Bucharest, September 15

Ioana Tanase was named in charge of UniCredit CAIB Securities starting on the 15th of September.

For 4 years before accepting this position, Ioana Tanase had been the General Manager of EFG Eurobank Securities, company within which she worked since 2001, as Head of Research and Sales.

With a lot of experience in the field and specialized studies in Romania and in the US, Ioana also graduated from the Eastern European Training Program, organized by the investment bank Merrill Lynch New York and was also certified as a Chartered Financial Analyst by the CFA Institute, Charlottesville, VA. Also, she is a member of the CFA Institute and among the founding members of CFA Romania.

Ioana Tanase will be confirmed in her new position at CAIB Securities by the National Commission of Transferable Securities. 


About SSIF UniCredit CAIB Securities Romania SA
 
SSIF UniCredit CAIB Securities Romania SA, created in 1995, is a financial investments service company, founding member of the Bucharest Stock Market, member of the Broker Association, individual compensating member registered in the Central Depository register of compensating members and founding member of the Investors Compensation Fund SA.

UniCredit CAIB Securities Romania SA’s vision is to become one of the best financial investment services companies in the region, by providing a large array of services and products for both enterprise clients and retail clients, locally and internationally.

AS MAIN PARTNER, UNICREDIT TIRIAC BANK ANNOUNCES THE OFFICIAL OPENING OF THE PRESS CENTRE FOR THE GEORGE ENESCU FESTIVAL AND INTERNATIONAL COMPETITION

17.08.2011

As main partner of the George Enescu Festival, UniCredit Tiriac Bank announces the official opening of the Press Centre for the festival, at Sala Palatului (the Palace Hall). UniCredit Tiriac Bank completes the facilities provided by the festival organizers, welcoming the Romanian and foreign journalists present for the event in the UniCredit area, where they will have access to laptops and printers connected to the Wi-Fi network.

"We hope that the journalists visiting the UniCredit area feel extraordinary here and are able to perform their activities in a relaxing and comfortable ambience. This is not the only novelty we bring to the festival. We will also be there for the music lovers offering them, by small details, all the necessary comfort in order for them to fully enjoy the entire beauty of the music and the show offered by this exquisite festival", states Anca Nuţa, Head of Identity & Communication UniCredit Tiriac Bank.

Having reached its 20th edition, the George Enescu Festival and International Competition opens its gates on September 1st. Consistently following its long tradition of promoting culture, UniCredit Tiriac Bank actively involves in supporting the festival this year, too.

Also present at the 2009 edition of the George Enescu Festival, as main partner, UniCredit Tiriac Bank offered the organizers a Steinway & Sons piano, in order for it to be provided with the artists on the occasion of the following editions of the event. Furthermore, in this year’s program, UniCredit Tiriac Bank brings exceptional shows - the "By Midnight" Concerts, which will take place every day at Ateneul Român (Romanian Athenaeum), as well as the Concert of the Vienna Philharmonic Orchestra, scheduled for September 16th at Sala Palatului (the Palace Hall). 

This year’s jubilee edition of the George Enescu Festival will take place between September 1st and 25th, and will include symphonic and cameral concerts, recitals, opera and ballet performances held in the main Halls in Bucharest, but also in certain historical cities related to the Romanian composer’s life.

UNICREDIT TIRIAC BANK REPORTS 94MN RON NET PROFIT UNDER IFRS IN H1

04.08.2011

  • Loan portfolio increased by 7.7%
  • Market share up in Corporate as well as Retail 
  • Impairment losses stabilized and NPL already peaked
  • The bank continued to invest in infrastructure, people and expanding the client base


August 4th 2011 - UniCredit Tiriac Bank reports RON 94mn net profit under IFRS in H1 2011, down by 36.6% compared to the first 6 months of 2010, yet 2Q profit is 78% higher than 1Q 2011 one.

Net profit under RAS was RON 124 mil (EUR 29.8 mil) in the first half of 2011.

The bank reports RON 600mn  (EUR 144mn) revenues for the same period, down 8.7% year-on-year. 2Q revenues are up 12.5% compared to the ones of 1Q 2011. Net non-interest income is up 19.4% year-on-year, while net interest income is down 19.4% applying a prudential approach in recognising income on arrears. The operating expenses are up 5% year-on-year influenced by statutory adjustments and inflation. Cost-to-Income ratio is 49.9%. Solvency ratio is 12.4% under RAS. Annualised Cost of risk decelerated to 195bp from 210bp a year ago. Total provision coverage under IFRS is 6.2% now.

The balance sheet total of the bank is RON 20.5bn (EUR 4.8bn) at the end of June 2011, close to  the level of 2010 end. Total outstanding on-balance-sheet loan portfolio increased 7.7% year-on-year to RON 14.4bn (EUR 3.4bn), better than the system. Customer deposits reached RON 9bn (EUR 2.1bn). 

“We see positive signals in the economy and the market which is reflected on our balance sheet and bottom line. We restarted lending growth and hit the bottom in terms of NPL ratio. Although still far from recovery we are optimistic on longer-term business opportunities in Romania and continue actively investing in infrastructure, systems and people. Fitch upgraded the bank’s rating to BBB+, a positive fact triggered by the sovereign rating upgrade.” said Rasvan Radu, CEO of UniCredit Tiriac Bank.

The consolidated total assets of the group (UniCredit Tiriac Bank, UniCredit Leasing Corporation and UniCredit Consumer Financing on a pro-forma lin-by-line consolidated basis) were RON 23.7bn (EUR 5.6bn) at the end of June 2011. The shareholders’ equity was RON 2.5bn (EUR 590mn). The consolidated 1H 2011 net profit of the group was RON 90.4mn.

WRITING FOR CEE JOURNALISM PRIZE

19.07.2011

Submission period for authors ends on 31 July 2011

  • Prize for EUR 5,000 honours contributions, which focus on borders and prejudices within Europe in varied ways and help to overcome them
  • APA and Bank Austria calling for entries until the end of July 

 
 Writing for CEE, the international journalism prize awarded annually by APA – Austria Press Agency and Bank Austria since 2004, is approaching its final days. Journalists from the countries of Central and Eastern Europe (CEE) have the opportunity to submit their work until 31 July, and the winner can look forward to a EUR 5,000 award. 
 
The prize honours works that deal with Europe and Europeans, everyday life in the countries of Europe and European art, culture or lifestyles – and that make a contribution to breaking down barriers and overcoming prejudices. Entries must have been published in print media, on the radio, on television or on the Internet between 1 August 2010 and 31 July 2011. 
 
The prize is aimed at encouraging the journalistic examination of Europe and European integration. Writing for CEE is not an EU prize, but “a European prize with a focus on Central and Eastern Europe”.  However, journalists from all over Europe – for example, from Northern Europe or the Baltic states – are especially invited to submit their work. The winner will be announced at a gala event held in November 2011 in Vienna.

Members of the jury, which meets in various constellations, include the Czech communications expert Milan Smid, the Slovakian publicist Michael Berko, the communications advisor Ildiko Füredi-Kolarik, the Polish journalists Igor Janke and Pawel Bravo, the former advisor to the Czech president Jiri Pehe, the Hungarian radio journalist Julia Varadi, the Bulgarian author Janina Dragostinova, Bank Austria’s CEE press officer Tiemon Kiesenhofer and the chairman of the jury, APA’s editor-in-chief for foreign affairs Ambros Kindel.
The article in the original language, an English translation and the author’s curriculum vitae are required for entry. The entry form and additional information can be found at www.apa.at/cee-award. 

UniCredit

UniCredit is a leading European bank with strong roots in 22 countries. Our overall global network embraces approximately 50 markets, with over 9,600 branches and more than 162,000 employees (as of 31 December 2010). Understanding the real-life situation and needs of individuals, companies and local communities is at the center of our professional commitment. We are all about providing concrete answers and real benefits to the challenges and opportunities our customers face.

In the CEE region, UniCredit runs the largest international banking network with nearly 3,900 branches. The Group operates in Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Germany, Hungary, Italy, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

TARGET 2, A STEP TOWARDS THE EURO

04.07.2011

By joining the European Union, Romania undertook to adopt the Euro currency in the conditions of fulfilling the Maastricht Treaty criteria, regarding achieving an adequate convergence level with the economies of the Euro zone member states. Adopting the unique European currency does not only mean a change of the legal tender: it also involves ensuring an adequate payment infrastructure to facilitate the implementation of the unique monetary policy of the Eurosystem and the cross-border settlement of payments within the EU. 

With this purpose, central banks in the Euro zone have developed the TARGET system (Trans-European Automated Real-time Gross settlement Express Transfer), by interconnecting 17 real-time gross settlement national systems with the payment mechanism of the European Central Bank. The TARGET system became functional on January 4 1999, once the Euro currency was launched. Starting with November 2007, a new generation of the system was introduced - TARGET 2.

TARGET 2 is a Euro payment system made available by Eurosystem, used for the settlement of central banks operations, high value Euro inter-banking transfers, as well as other Euro payments. The system allows the real-time processing of payments, settlement in accounts opened at the central banks and it has immediate finality. Three central banks that are members of the Eurosystem (Banca d’Italia, Banque de France and Deutsche Bundesbank) supply and technically operate, in the name of the Eurosystem, the technical infrastructure and the unique common platform of TARGET 2.

UniCredit Tiriac Bank is one of the banks that will be a part of TARGET 2-Romania, starting on July 4, 2011.

THE UNICREDIT LITERARY DEBUT COMPETITION ANNOUNCES THE WINNERS OF ITS FOURTH EDITION

01.07.2011

The UniCredit Literary Debut competition has announced the winners of its fourth edition, for all three categories of the competition: poetry, short fiction and novel, during an Award Ceremony that took place last night, at the UNICREDIT PAVILION, starting at 18:00. 

This year, the number of people that signed up for the competition was by 30% higher than last year, totaling 186 literary works, out of which 18 were nominated for the grand prizes. 

Thus, the poetry category had two nominations, and the winner is Laurentiu BELIZAN, from Buzău, for the book of poetry untitled "Între noi un zid pe lună" (‘A moon-wall stands between us’).

Paul Cernat, member of the UniCredit Literary Debut competition jury, offered the motivation for choosing the winner: "Între noi un zid de lună" is the book of a talented poet, well-read, inclined towards mannerist voluptuousness adorned with exotic cultural references, often times from the Extreme Orient, that prove an escapist and aesthetical sensibility. Often based on a quotidian biographical support, his lyrical discourse indulges in elaborate and sensual decorative metaphors. There is also some sort of restrained juvenile sentimentalism that adds to the feel of the poems but that sometimes risks to get out of control. A better dosing of the inner overflow and of the mythological references, as well as a more strict selection of the texts would better highlight the fastidious scenarios of the young writer who, besides his lyrical imagination, easily scrolls thorough various poetry styles, usually going back and forth between the nostalgia of a "naturist" childhood and the urban daydreaming."

Competition was fierce in the short fiction category, as 11 works were nominated. The winner was Petru ALBU, from Simeria, Hunedoara county, with the volume untitled "Trestii" (‘Reeds’).

Radu Paraschivescu, member of the jury, explains why Petru Albu's work was chosen: "Trestii" seems to be written by an experienced storyteller, who went though a long and useful apprenticeship. The narration is engaging, the images surprise the mind’s eye, clichés have fled to the hills. Elliptic or not, the sentences show the art of narrative scaling that is common with authentic talents. Comparisons do not become excessive as is often the case with debuts. When reading, one is simultaneously intrigued and happy ("The field was quivering like a Portuguese lament"). Between alert short stories, only several pages long, the author inserted a jewel, ‘Sisamnes’, which definitely tipped the scales. It is the text that would have brought victory to any of the first five volumes selected."

A special mention was also granted in this category, to Şerban Mihai GEORGESCU from Bucharest, for his volume "Ghidul cititorului miotonic" (‘Guide of the myotonic reader’), because it is "the most well-written and clever text; unfortunately, it is not short fiction", as Radu Paraschivescu explained. 

Six works were a step away from the grand prize in the novel category, but only one of them won it: "Nu mă atinge" (‘Do not touch me’), written by Dumitra STOICA from Bucharest.

Liviu Papadima, member of the UniCredit Literary Debut competition jury, offered a motivation for awarding the prize to "Nu mă atinge": "There are white utopias, pictures of an ideal world, as well as there are dystopias, dark utopias, somber dreams of the future paths. "Nu mă atinge" is a suave utopia that is also filled with drama. It reveals through an ingeniously allegoric form the convulsions and fears of our everyday present times. The futurological pretext gives the author a consistent alibi for detaching herself from the doctrinal passions that usually plague the judges of their times. The book is written with finesse, even with stylistic virtuosity, offering the reader a delightful experience."

The works of the 3 winning authors will be published by the Humanitas Publishing House and launched during the GAUDEAMUS International Book Fair, the 18th edition, which will take place in November 2011. Furthermore, all the winners will receive a one-year subscription to their favorite monthly publication, offered by HDS Inmedio, partners of the project. 

*******

About UniCredit tiriac Bank
UniCredit tiriac Bank is a top European bank whose cultural-artistic sponsorship activities are focused especially in the visual arts, but also cover music and literature, in the spirit of the UniCredit Group tradition. The bank offers financial support to the first independent arts and culture center, opened under the name UNICREDIT PAVILION, and it is also a strategic partner of the Bucharest International Contemporary Art Biennial. The cultural-artistic part of the bank’s ethics and responsibility strategy is mainly shown though its implication in long-tern projects that it finances as a main partner, for instance, the George Enescu International Festival and Competition and the UniCredit Literary Debut Competition.

The Catalist Association
The Catalist Association was founded in 2007 with the purpose of promoting Romanian culture, of books in general, and of supporting future Romanian writers. Besides launching the third edition of the UniCredit Literary Debut competition, the association also developed projects whose objectives were: the development and maintaining of partnerships with Romanian publishing houses and with the local press for book reviews; promoting the written culture, increasing the public interest in reading by promoting the published books, initiating and promoting an original project - a feuilleton published online and written by five Romanian authors.

SEVERAL CELEBRITIES, LED BY THE MINISTER FOR ENVIRONMENT AND FORESTS BORBELY LASZLO, RODE THEIR BICYCLES FOR THE OPENING OF THE NEW CICLOTEQUE CENTER IN THE DRUMUL TABEREI PARK

30.06.2011

On Wednesday, June 29, a new Cicloteque bicycle rental center was opened in the Drumul Taberei Park (previously known as Moghioros), event attended by Borbely Laszlo, the Minister of the Environment and Forests, Zoli Toth (Sistem), Sorin Brotnei (Akcent), Lucian Mandruta (Antena 2), actor Dorian Boguta, Alexandru Constantin (Prima TV), Stefan Lungu, composer Zsolt Kerestely and Dragos Bucurenci, president of the MaiMultVerde Association. They paraded on their bicycles, dressed in elegant attire offered by Trends by Adina Buzatu, proving that it is possible to ride a bicycle even when your job demands more official clothing.

Elena Udrea, the Minister of Tourism and Regional Development and Cristian Poteras, Mayor of the 6th District were also present at the opening of the new Cicloteque center, thus expressing their support for the promotion of cycling.

The Cicloteque network is a MaiMultVerde and UniCredit tiriac Bank project, with the support of the 6th District City Hall, the Bucharest Lakes, Parks and Leisure Administration and the University of Bucharest. 


The new Cicloteque center was inaugurated during an innovative event, a men’s fashion show on two wheels that was attended by Borbely Laszlo, the Minister of the Environment and Forests, Zoli Toth (Sistem), Sorin Brotnei (Akcent), Lucian Mandruta (Antena 2), actor Dorian Boguta, Alexandru Constantin (Prima TV), Stefan Lungu, composer Zsolt Kerestely and Dragos Bucurenci, the president of the MaiMultVerde Association. They paraded on the Cicloteque bicycles dressed in elegant and business clothing offered by Trends by Adina Buzatu. By doing this, they proved that the bicycle is a versatile means of transport that can be adapted for different occasions, from a simple ride through the park to travelling to a business meeting.

Adina Buzatu designed the clothing specifically to prove that people can choose any style they want when they ride their bicycles, not just sports wear. They can dress casual, elegant or business, depending on the demands of their profession.

"Those that say you cannot dress elegantly when riding a bicycle either don’t know how to dress or how to use a bicycle", stated Dragos Bucurenci, the president of the MaiMultVerde Association, about the concept of the launch event for the new Cicloteque center.

"It is very important that the chosen clothes are comfortable and made from natural fabrics. Excessive sweating is unpleasant and it happens when wearing clothes made from synthetic materials. The attitude one has when riding a bicycle must also be natural, a very important fact that completes the aesthetic success. The men chosen for the fashion show are important, not just because of their names or their careers, but mostly because they are passionate cyclists and convinced environmentalists, that encourage the fight against pollution through their lifestyle", stated Adina Buzatu.  

“We wanted to turn cycling into an environmentally friendly alternative to driving a car, thus showing that there are solutions to the problem of pollution in our city. We are proud of this project because Cicloteque is a pioneering initiative in the field of cycling that brought Bucharest closer to other European capitals. We consider it a special success that the project became self-financed after only three years, a living proof of the fact that the citizens of Bucharest are interested in environmental issues, taking up this activity as if it was their initiative. And last but not least, it turned cycling into a lifestyle!" stated Anca Nuta, Head of Identity and Communication UniCredit Tiriac Bank.

Cicloteque, the first bike-sharing system of Romania, currently has four centers that rent bicycles at very friendly prices. The first center, opened in 2008, is located within the premises of the Law School. Another two centers were opened in 2010 in the Tineretului and Herastrau Parks. Thus, through the four centers, Cicloteque became a bike-sharing network in the true sense of the word, as users can rent bicycles from one center and return them to another. The rental and reservation of bicycles are done online, on the website www.cicloteque.ro and the rates are: 2 RON per hour, 10 RON per day or 20 RON for two days. Students, retired people and unemployed people benefit of special rates, reduced to half of the normal cost.

In 2010, 11,970 users subscribed for the Cicloteque system and enjoyed its benefits and the bicycles were rented more than 20,000 times. The number of users grew by almost three times compared to the previous years, which proves that the interest of the people of Bucharest in cycling grows stronger each year. 

Since the Cicloteque bike-sharing service became self-financed in 2010, all the administrative expenses are covered from the proceeds and the interest in cycling is growing, the MaiMultVerde Association and UniCredit Tiriac Bank are planning an expansion of this service. 

*******

MaiMultVerde Association is a non-governmental, non-profit and environmental organization with the mission of building a new culture of environmental volunteering in Romania. In its first three years of activity, 2008 - 2010, MaiMultVerde has worked with more than 15,000 volunteers, planted more than 500,000 seedlings, gathered more than 300 tons of waste, opened the first bike-sharing system in Bucharest, Cicloteque, ran several national informative and educational campaigns and organized the first fund gathering gala for environmental projects, Gala Verde (Green Gala). The MaiMultVerde budget for the first two years was higher than EUR 2,500,000. The funds were obtained from sponsorships offered by large companies in Romania. 

UniCredit Tiriac Bank
 is the Romanian banking subsidiary of UniCredit Group, one of the most important players on the European financial services market, with operations in 22 countries and a well-developed social responsibility strategy. Also, in order to unite the entire UniCredit Group with the purpose of social responsibility and of increasing the value of voluntary cash donations in favor of non-profit entities, annual volunteering programs that involve the employees are carried out, with the financial support of the Unidea foundation, the humanitarian foundation of the UniCredit Group. The bank carries out its activities fully aware of the responsibility it has towards society and the environment. UniCredit Tiriac Bank is actively involved in the community, thus continuing the tradition of the majority shareholder. So far, it offered support to several organizations and foundations, such as MaiMultVerde, Hospice Casa Sperantei Foundation, Motivation Romania, SOS Satele Copiilor, Serviciul Apel, Freedom House, Care Foundation, Catalist Association, ArtPhoto Association, Anonimul Foundation etc.

A NEW DEPOSIT WITH YIELD CONNECTED TO THE EVOLUTION OF THE EXCHANGE RATE AND AN INTEREST RATE OF 11% PER YEAR

29.06.2011

UniCredit Tiriac Bank launched Maxi Depo, a deposit targeting natural and legal persons, whose performance is connected to the evolution of the foreign currency exchange rate and that offers the customer the possibility of getting a superior yield to that of a regular deposit. The invested amount is guaranteed if the customers maintains the agreement until the deposit due date.

So far, the version of the product with 6 month maturity is available, with weekly subscription, Monday to Friday, and a minimum deposit acceptance amount of RON 3,000. 

The notional (the minimum amount that must be reached within a collective subscription) is of RON 2,000,000. In case the notional is not collected within a subscription period, the deposit is not constituted, and the principal stays in the current account of the customer.

The maximum interest of the RON deposit is currently at 11% per year and the period within which the exchange rate must fluctuate so that the deposit is remunerated at this level is set according to the NBR exchange rate on the date of the investment, framed within two comfortable margins, set according to the market conditions in the subscription period.

For instance, for the subscription period that recently started, 27.06.2011-01.07.2011, the investment date is 04.07.2011 and the deposit validity period is of 179 days (04.07.2011- 30.12.2011).

The interval is calculated like this: the lower limit is the value of the NBR EUR/RON reference exchange rate, from which 2.80% is deducted, and the upper limit is the NBR BNR EUR/RON reference exchange rate to which 3.46% is added. 

Example: for an NBR exchange rate of 4.2160, the interval is between 4.0980 - 4.3620.

Should the NBR exchange rate become equal or higher to any of the interval limits for at least one day during the 6 months of maturity, the obtained interest is of 0.10% per year, the current account interest

Possible situations at the maturity of a RON 3,000 deposit:

A. The official published NBR exchange rates for the pair EUR/RON in each working day during all 179 days of the deposit have always been above 4.0980 and below 4.3260 (without becoming equal to one of these values). The customer receives RON 3,000 as principal, plus 11% interest per year, RON 3,164.08 in total.

B. The official published NBR exchange rates for the pair EUR/RON in each working day during all 179 days of the deposit have been lower or equal to 4.0980 or higher or equal to 4.3620 for at least one day. The customer receives RON 3,000 as principal and 0.10% interest per year, respectively RON 3,001.49 in total.

The interest calculation formula is: Interest = N * d * t / 360, where:

- N = the value of the deposit (at least the minimum amount required to constitute the deposit)
- d = annual interest rate (%)
- t = number of days of the deposit

For the subscription period, the principal is remunerated with an interest rate of 0.1% per year.

Investing in such a deposit is recommended if the customer has the certainty and the capacity to maintain his investment for the entire duration of the deposit.

UNICREDIT ANNOUNCES EXTENSION OF THE UEFA CHAMPIONS LEAGUE SPONSORSHIP UNTIL 2015

31.05.2011

After the groundbreaking 2009-2012 sponsorship agreement, UniCredit is proud to announce the extension of the contract for the UEFA Champions League to the cycle 2012 – 2015. With the renewal of this agreement, UniCredit will continue its association with UEFA Champions League, Europe’s most prestigious club football tournament.

The UEFA Champions League sponsorship has proved a powerful driver towards greater brand awareness. The extension of the sponsorship will allow UniCredit to build on the results achieved so far in supporting the master brand strategy, fostering the European image of the bank, and strengthening local brands and business via this prestigious platform. Furthermore, the sponsorship will furthermore support the rebranding processes in Poland and Ukraine in the near future.

"The renewal of the sponsorship for three more years is a clear confirmation of our belief in being a European group with a strong presence in our core markets including CEE, as we aim to continue to leverage on the UEFA Champions League sponsorship to increase our brand awareness in the region", underlines Federico Ghizzoni, Chief Executive Officer of UniCredit. "Clearly, we chose a European sponsorship platform that perfectly fits with our positioning as a leading European bank."

"We are extremely pleased that UniCredit has chosen to extend its agreement with UEFA and with the UEFA Champions League for another three-year cycle. Their renewed support and contribution, particularly in the promotion of the competition in Eastern Europe, is highly valued. As one of the key activities, the UEFA Champions League Trophy Tour presented by UniCredit has created unforgettable and exciting experiences for football fans in those territories. The UEFA Champions League continues to be a very valuable platform for our sponsor partners and we are confident that it will continue to provide UniCredit with excellent opportunities to connect with fans across Europe and further strengthen their association with the competition". David Taylor, CEO UEFA Events S.A.

THE UEFA CHAMPIONS LEAGUE SPONSORSHIP HAS AGAIN PROVED TO BE A KEY DRIVER FOR UNICREDIT TO STRENGTHEN ITS POSITION AS A LEADING EUROPEAN BANK

30.05.2011

This season, the UEFA Champions League sponsorship has again proved its power for UniCredit to pursue the stated goals such as supporting the master brand strategy, fostering a European image, strengthening local brands and business via this prestigious platform.

"The concrete results of the last two seasons document that we as a top European bank have chosen a successful path within the football community", states Federico Ghizzoni, Chief Executive Officer of UniCredit. "Thanks to the comprehensive communication and activation measures and the strong commitment of the group’s employees, the success of this sponsorship could be further pushed."

The visibility for UniCredit has been extremely high and the logo has been associated with UEFA Champions League initiatives trough ~ 5 bn contacts in the last two seasons.

In markets with consistent activation measures the brand awareness increased significantly. Overall the aided brand awareness on group level increased by 5 percentage points between November 2009 and November 2010.

The results of brand equity studies show that since the beginning of the sponsorship UniCredit improved its image dimensions as well as propensity to buy. Where the UEFA Champions League sponsorship has been activated UniCredit generated effective sales conversion and leads. 

The UEFA Champions League Trophy Tour presented by UniCredit has been particularly instrumental in driving brand awareness. Over the past two years ten countries and 49 cities were visited, resulting in a high response in non-financial media and generating great potential for media. Throughout attractive road-show event series UniCredit welcomed in total 228,500 visitors and achieved an average return on investment of 374.5% per Trophy Tour. 


Trophy Tour 2011

Building on this positive experience, this year’s UEFA Champions League Trophy Tour presented by UniCredit is scheduled to visit three more countries and five major cities in Europe. So the 2011 route will include Saint Petersburg (September 16 - 18) and Moscow (September 23 - 25) in Russia, Kiev (September 30 - October 02) and Donetsk (October 07 - 09) in Ukraine and finally Belgrade (October 14 - 16) in Serbia.


Sustainability to underline the commitment


This year, UniCredit has also given a more pronounced social dimension to the sponsorship. Through the online campaign “Make a kid smile” - launched in time to take advantage of the excitement generated around the UEFA Champions League Final - and its internal initiative the group has enabled employees and the public to support football schools and social projects in different countries where the group is present. 

In particular, as a result of the campaign "Make a kid smile", UniCredit Foundation, the corporate philanthropy body of UniCredit, has contributed to “Open Fun Football Schools”, a project that promotes the values of fairness, team spirit and mutual respect among children living in divided societies. With this donation, UniCredit will actively support "Open Fun Football Schools" in Bosnia, Croatia, Serbia and Ukraine by providing equipment and will also promote the project in new countries like Bulgaria, Slovenia and Slovakia in 2011.

According to Maurizio Carrara, Chairman of UniCredit Foundation, "this initiative demonstrates how sport and social commitment can go together. We thank all fans, who, through uploading their picture, made us donate to this valuable and far reaching project".

The "Make a kid smile" campaign has been endorsed by Luís Figo, the Official UniCredit Ambassador for the UEFA Champions League. "My personal experiences within my social commitment have proved that there is much more that counts in life than football. So, it was a pleasure for me to follow this initiative, especially since the benefitted project uses football as a vehicle to promote tolerance, respect and fairness."

ALTERNATIVE SOCIALE ASSOCIATION, UNICREDIT FOUNDATION AND UNICREDIT TIRIAC BANK CONTINUE THEIR PROGRAM DEDICATED TO FIGHTING NEGATIVE EFFECTS OF MIGRATION ON VULNERABLE SOCIAL CATEGORIES

20.05.2011

400 elders in difficult situations from Iaşi County will benefit from social and psychological assistance, as well as from material support to fit their needs, consisting of food, clothing and prosthetics

Bucharest, May 19, 2011
 - Alternative Sociale Association and UniCredit Foundation, together with UniCredit Ţiriac Bank, start the second stage of the "Migrations - Romania: A Better Life for the Elders!" project, scheduled to run until September 2012. The project will be funded with EUR 158.000 and will last 18 months.

The direct beneficiaries of this project will be 400 elders from Iaşi County, from the inactive population of the county, a social category for which there currently only a limited number of social services exists in Romania. Also, 60 social services specialists from Iasi, Vaslui, and Botosani counties will take part in training sessions, so that they could afterwards offer specialized help.

"EUROSTAT forecasts show that the number of elders in Europe is set to double in the next 50 years. That is why we believe that supporting this vulnerable social category is a critical need of the community where we live, a need we could not overlook", says Anca Nuta, Director of Communication and Identity Department of UniCredit Tiriac Bank.

"During the preceding stage of the Migrations project we have noticed that elders are an under-privileged social category affected by migration, even if no members of their family have left to work abroad. The active population of Romania is simply less and less numerous, so that it cannot provide for their needs", adds Catalin Luca, Executive Director of Alternative Sociale Association.

Among the direct beneficiaries of the project are the families of elders, the local communities where the assisted elders live, the local institutions of Iasi, Vaslui, and Botosani counties that provide social services, as well as central institutions of Romania, that are set to benefit from a working methodology created as part of the project.

As part of the program, working partnerships with the Social Assistance and Child Protection Department of Iasi County, Community Assistance Department Iasi and Iasi Police Inspectorate will be included.

The project, started in the spring of this year, furthers the efforts of the involved partners - Alternative Sociale Association, UniCredit Foundation and UniCredit Tiriac Bank - to fight the negative effects of migration on the lives of the relatives of those who have left abroad to work. During the first stage of the program, 1,240 persons from Iasi County (657 children and 583 elders left home by those who left the country to work) have benefited from psychological assistance, legal counselling, and financial support. The program ran for 26 months and was financed with EUR 480,000.

The awareness campaign "You Have the Right to European Allowances! It’s Your Child Right!" was a special chapter within the project, intended to support the children of Romanians who work legally abroad.

All these initiatives are part of the "Migrations" Program initiated by UniCredit Foundation to raise awareness with respect to migration, acknowledging it as one of the most pressing contemporary issues.

Giuliana Porta, Secretary General of UniCredit Foundation, says that all 22 countries where UniCredit Group is present are affected, in various degrees, by migration. "The problems associated to migration flow exhibit specific characters in each country, which is why UniCredit Foundation supports projects that target and solve specific issues", explains her.


# # # 

On The Alternative Sociale Association
The Alternative Sociale Association was founded in 1997 by a group of students at the Social Assistance Faculty within the Al. I. Cuza University in Iaşi. Its mission is to act for the protection and promotion of human rights, through prevention, assistance, training, research and advocacy activities. Its main activities include providing psychological and social services for children, elderly people and minors who have been victimised, supporting the justice reform, preventing and fighting human trafficking, preventing the abuse, neglect, exploitation and institutionalisation of children. The association also deals with surveys, research, methodologies and resource publications related to these fields for specific specialities. 

About The UniCredit Foundation
UniCredit Foundation is a corporate foundation established in 2003 to contribute to the development of solidarity and philanthropy in the communities and territories in which it operates, primarily in the geographic areas in which UniCredit is present (in 22 countries throughout Europe and Central Asia). By transferring financial resources and management skills commonly used in the corporate sphere, UniCredit Foundation is supporting major projects in order to foster positive social impact and innovation, which are carried out by local non-profit organisations.

About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 242 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.

UNICREDIT TIRIAC BANK REGISTERED, IN THE FIRST QUARTER OF 2011, A NET PROFIT OF 52 MILLION LEI ACCORDING TO RAS

13.05.2011

May 13, 2011 - UniCredit Tiriac Bank earned a net profit of 52 million lei according to local accounting standards (RAS) and 34 million lei according to international financial reporting standards (IFRS) in the first quarter of 2011, decreasing by 14%, respectively 47%, over the same period last year.

The revenues recorded by the bank rose to 282 million lei  (67 million eur) in the same period, by 8.8% below the first three months of 2010. The net income from other sources than interests (such as commissions and market operations) increased by 19%, and net interest income fell by 18%, being affected by the low volume of economic activity, the appreciation of national currency and the impact of legislative changes.

Operating expenses increased by 4% within the January-March  period  of this year towards the first quarter of 2010, influenced by the acceleration of inflation and statutory adjustments due to market regulations. The ratio between costs and revenues stood at 51%.

The solvency ratio stood at 12.8% according to RAS, comfortably above the regulatory level. The annualized cost of risk has moderated to 2.1% of portfolio value (balance sheet and off balance sheet). The share of reserves in total loan portfolio increased to 6%, from 4.1% a year ago.

"Even though we continued to grow above the market average on lending segment and on other priority areas of activity for us, the extend of recession, the deterioration of bank asset quality, as well as the margins shrink have continued to put pressure on bank earnings. On the other hand,we see encouraging signs in the risk costs decrease, in the evolution of macroeconomic indicators and in the unfreezing credit. Yet, the pace of recovery will be slow this year", said Rasvan Radu, CEO UniCredit Tiriac Bank.

The volume of bank assets stood at 19 billion lei (4.7 billion eur) at the end of March 2011. The balance sheet value of loans rose by 5% from March 31, 2010, up to 13.3 billion lei (3.2 billion eur), the growth rate being above the average banking system. Customer deposits reached 8.6 billion lei (2.1 billion eur).

The total consolidated assets of UniCredit Tiriac Bank, UniCredit Leasing Corporation and UniCredit Consumer Financing were placed at 22.1 billion lei (5.4 billion eur) at the end of March 2011. The consolidated net profit of the three entities was 30 million lei during the first three months of the year, and the capital stood at 2.4 billion lei (585 million eur).

PIONEER FUNDS - EMERGING MARKETS CORPORATE BOND 2016

03.05.2011

Pioneer Investments is launching a new fund, focused on investing in corporate bonds in emerging markets.

Bucharest, May 3, 2011
 - For conservative investors, which save in euro and want to benefit from attractive returns generated by corporate bonds in emerging markets and from a scenario with positive development, Pioneer Investments launches a new investment fund from Pioneer Funds range.

The fund has a maturity date fixed on December 30th 2016 and pays a target dividend of 4.5% * in EUR each year until maturity. The investment product is recommended to investors with a conservative profile, which appreciate an annual income flow secured by the distribution of dividends and which pursue a less volatile investment. Investors have a very good liquidity of their investment, being able to choose at any time to redeem all or part, the fund unit price publication and redemption payments taking place every two weeks.

Fund's portfolio will be invested at a rate of 25% in corporate bonds in emerging markets from Investment Grade class and 75% in corporate bonds in emerging markets from Non Investment Grade class. The portfolio is built in such a way that seeks to maximize the yield to maturity, and Buy & Hold strategy allows the investment manager to set as target achieving constant portfolio return over the life period set. Most bond portfolio will be selected so that the final maturity will be close to the maturity date of the investment fund. The Fund is denominated in Euros, other currency exposure will be covered by specific techniques of currency exchange risk management.

The subscription period in Pioneer Funds - Emerging Markets Corporate Bond 2016 is April 25th - June 3rd, 2011, subscription will be done only in Romania by UniCredit Tiriac Bank.

"Emerging economies have grown rapidly over the past 10 years. Their GDP growth was stronger than overall global economic growth: today more than 50% of global GDP is generated by developing countries and this trend is expected to continue due to structural factors such as population growth and urbanization", said Florin Dolea, CEO of Pioneer Asset Management.

"We are also confident in our approach to launching such an investment fund together with our traditional partner - UniCredit Tiriac Bank. We believe that this launch in Romania is a natural consequence of a successful collaboration in recent years, materialized at the end of 2010 by an excess level of 20 million EUR assets under management in Romania", added Florin Dolea.


# # #

About Pioneer Investments

Pioneer Investments Group is a global asset management company with assets under management from 1 January 2011 amounting to approximately USD 250 billion worldwide and a presence in 28 countries. Pioneer Investments is a leader in fund management in Central and Eastern Europe. Pioneer Investments is part of UniCredit Group, managing the third oldest investment fund in the world, since 1928


About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of the UniCredit network, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Tiriac Bank is a true "one-stop-shop" for financial services, which benefit the 526,000 customers currently active through 235 branches. In Romania, the group offers a wide range of specialized products and services through partners as well: UniCredit Leasing Corporation, CA-IB Securities UniCredit Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Partner.

FINANCING SOLUTIONS FOR THE EUROPEAN FUNDS

29.04.2011

UniCredit Tiriac Bank and FONDURI-STRUCTURALE.RO conducted on Thursday, April 28, 2011 a conference "Can the bank do more in accessing European funds?".

Among the participants in the debate there were Dan Pascariu (Chairman of the Supervisory Board UniCredit Tiriac Bank), Catalin Vatafu (Counselor of the Prime Minister, Head of Coordination of Structural Instruments), Gabriel Friptu (General Manager of Management Authority for Regional Operational Program ), Marian Dobrila (Vice President of Consultants Association in Romania for Accessing European Funds - ACRAFE) Codrut Nicolau (Corporate Director UniCredit Tiriac Bank) and Marius Radu (Coordinator European Funds Department UniCredit Tiriac Bank).

Simplification of procedures for checking the documentation for certification of expenditures incurred in the projects financed from European funds is now one of the main concerns in this area. Thus, Catalin Vatafu announced that the Government has formed a working group that explores solutions to reduce the period of reimbursement of costs to beneficiaries and framing it within 90 days.

The role of banks in the absorption of EU funds was also discussed; the letter of comfort is an important point in streamlining the process.

"The letter of comfort is a solution for increasing the number of implemented projects, but the cooperation with the authorities is very important. It is essential that the applicant's guide in the final version to be released on time, at least two months before closing the submission of projects", said Marius Radu, Coordinator of the European Funds department in UniCredit Tiriac Bank.

"We wish on mid term to become the biggest financer on European funds projects that are given to private companies in Romania. Thus, UniCredit Tiriac Bank gives professional advice from the incipient stage, by offering efficient solutions of structuring the co-financing and by monitoring the implementation after the financing is obtained.", completed Marius Radu.

As of February 2011, presenting a letter of comfort to the submission of projects from structural instruments is mandatory for all private co-financing projects whose eligible costs are at least 100.000 euros.

According to data presented by the authorities, payments for projects from EU funds is 11.64% of the total sums allocated by the European Union in 2007-2013, respectively 2.35 billion euros, while the absorption estimated at the end of the year is 25%.

Among the conditions that will contribute to a more accelerated growth of this rate in 2011 were mentioned:

- Legislative changes that allow bringing in as guarantee for bank financing the assets bought with European money in the project (except for the Operational Program for Fishing)
- Mandatory submission of the letter of comfort when submitting the project.

Another important factor discussed during the event was the importance of forming a partnership consultant - bank - beneficiary since the submission phase of the project as a solution to increase the absorption rate in both the current programming period and for the financial period 2014-2020.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit network, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Tiriac Bank is a true "one-stop-shop" for financial services, which benefit the 526,000 customers currently active through 235 branches. In Romania, the group offers a wide range of specialized products and services through partners as well: UniCredit Leasing Corporation, CA-IB Securities UniCredit Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Partner.

UNICREDIT LAUNCHES CIB INTERNATIONAL PROGRAM FOR GRADUATES WITH ECONOMIC STUDIES BACKGROUND

28.04.2011

Bucharest, 28th April - UniCredit launches CIB International Graduate Program, offering graduates with economic studies background from countries where the Group is present, the opportunity to work in New York, London, Munich, Milan, Vienna and Warsaw, in areas such as: Relationship Management, Global Transaction Banking, Corporate Finance, Fixed Income, Equities, Research.

With a complex service pattern, structured on customer segments ranging from SMB to multinationals, Corporate Investment Banking segment meets its clients with customized solutions and a rapid assessment of individual needs of companies.

"One of our priorities is to support students and graduates with economic studies background through scholarships, internships and experiences in our bank, both locally and at the Group level. In this case, as top European bank we want to offer to as many Romanian graduates as possible the opportunity to start their career in a dynamic and multicultural environment, to become excellent professionals in the field" said Alina Dragan, Vice-President Human Resources UniCredit Tiriac Bank.

CIB International Graduate Program is aimed at young people who are just getting started, who fully master English language, have knowledge about the banking environment and want to develop practical skills already acquired during their previous studies.

Details about the project can be found at: http://www.unicredit-tiriac.ro/cariera/studenti/programe-si-initiative

UNICREDIT TIRIAC BANK CONCLUDED A CONVENTION FOR BILLS PAYMENT WITH CEZ SALE

06.04.2011

Bills for electricity consumption issued by CEZ Sale can also be paid, starting with the 1st of April, through UniCredit Tiriac Bank, without any fee for its clients.

The Bank offers the consumers a large variety of payment options:

By cash:

- At any cash desk of the Bank, upon production of the invoice;
- At the Non-Stop Banking Multifunctional Facilities  of the Bank, by scanning the bar code on the invoice.

By credit card:

- At the ATM network of the Bank, by cards issued by UniCredit Tiriac Bank, but also by cards issued by other banks, upon mentioning the client code and the number of the invoice.

By bank transfer:

- For a bank transfer, the clients of UniCredit Tiriac Bank, as users of Online B@nking/ BusinessNet, are provided with the CEZ Sale customized payment pattern, that contains a series of pre-filled in details and dedicated fields in order to facilitate the data entry by the payer.
- By payment order, regardless of how the payment is to be executed (at the cash desk, other electronic channels), with the obligation to mention the client code in the payment details box.

"Our partnership with CEZ Sale completes the list of big suppliers of services and utilities our Bank concluded conventions with, for collecting the invoices and it allows our clients to save time, by using modern, accessible and safe means of payment, like the bank transfer, the credit card or the multifunction devices made available by the Bank", explained Liudmila Drozdea, Global Transactional Banking Director for UniCredit Tiriac Bank.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit Group network, the largest bank group from Central and Eastern Europe and one of the largest in Europe. UniCredit Tiriac Bank is a true "one-stop-shop" of financial services, from which at present 517.000 active clients benefit by means of 235 branches. In Romania, the group offers a large range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Partner.


On CEZ Group

CEZ Group is one of the most powerful producers, suppliers and distributors of electricity in Europe, not only from the point of view of operational capacities but also considering the number of clients. CEZ Group has been present on the Romanian market ever since 2005, once the Group took over Electrica Oltenia SA distributing company. CEZ Group businesses in Romania are represented by the 5 companies – CEZ Distribution, CEZ Romania, CEZ Sale, CEZ Services and CEZ Trade.

CEZ Group invests EUR 1.1 billion in creating the biggest Aeolian park on land in Europe, with an installed power of 600 MW. The construction of the park, located in the northern part of Constanta, is to be done in two stages – the first one, at Fantanele, includes 139 wind turbines with 347.5 MW power and it was fully operational at the end of 2010. The second stage, in Cogealac area, will produce 252.5 MW and it will have 101 wind turbines, and it is programmed to become operational at the end of 2011. Upon completion of both stages of the project, CEZ will be able to supply 10% of the total amount of renewable electric power produced in Romania, including the big hydropower stations. In 2011, CEZ Group in Romania purchased the hydropower system in Caras-Severin, that includes 4 micro-hydropower stations and four barrier lakes, with a total installed power of approximately 18 MW and a production of about 70GWh/year.

ERGO ACTIVE CAPITAL, A NEW PRODUCT LAUNCHED BY UNICREDIT TIRIAC BANK AND ERGO LIFE INSURANCE

05.04.2011

UniCredit Tiriac Bank launched a new product together with ERGO Life Insurance, ERGO Active Capital, a financial product that successfully combines the investment component with the protection offered by life insurance.

The product secures guarantee for 100% of the invested capital and a supplementary guaranteed performance of 42% upon maturity, by UniCredit S.p.a. Milan.

Payment method for Active Capital is the unique premium, its value ranging from minimum EUR 3,000. Subscription period is between the 1st of April 2011 and the 30th of June 2011 (including), with the possibility of modification in case the subscription ceiling is to be reached. Insurance shall begin on the 1st of the month following the date of acquisition, and maturity date is on the 1st of July 2021.

The new product Active Capital ERGO could offer to those who choose it the well deserved peace of mind for the entire duration of the contract. Thus, in case of demise of the insured person, the designated beneficiaries will collect at least 110% of the invested amount or the value of the investment account, if the latter were of a higher value.

The age of the Insured Person may range from 16 to 60 years old upon entering the insurance, investments are to be made by senior bonds issued by UniCredit Spa Milan and are traded on Luxembourg Stock Exchange, Active Capital ERGO represents a solid alternative to the interests offered to the clients by the comparable saving products, with fixed interest.

The advantages of the product:

·         Guarantee of 142% of the invested capital, offered by UniCredit SPA Milan, upon maturity.

·         Professional management of the assets by UniCredit SPA Milan.

·         Possibility of selling before maturity, for the current market value.

·         For protection of the loved ones, a life insurance of 110% of the unique premium in case of demise, regardless of the cause of death.

·         For life insurance, ERGO Life Insurance SA does not ask for a medical check-up (for amounts below EUR 750,000, persons who claimed to be clinically healthy).

·         Compensations and sums obtained through life insurance are not subject to taxation, in compliance with the current legislation.

·         A minimum investment of EUR 3,000, Unique Premium.

·         Minimum age of the Insured Person is between 16 and 60 years old, upon beginning of the contract.

·         Maximum age of the Insured Person upon maturity of the contract is 70 years old.

·         The Insured Person may differ from the investing person.

·         The beneficiaries of the insured amount may be changed throughout the contract.

·         The insured amount may be divided between several beneficiaries.

·         The trust conveyed through the cooperation of two top financial European Groups – UniCredit and ERGO.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit Group network, the largest bank group from Central and Eastern Europe and one of the largest in Europe. UniCredit Tiriac Bank is a true "one-stop-shop" of financial services, from which at present 517.000 active clients benefit by means of 235 branches. In Romania, the group offers a large range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Partner.


About ERGO Life Insurance

ERGO Life Insurance SA is a local subsidiary of the ERGO German Insurance Group. With a volume of gross written premiums of over EUR 19 billion, ERGO is one of the most important European Insurance Groups. Worldwide, ERGO is active in more than 30 countries in Europe and Asia.  ERGO is a member of Munich RE Group, world known reinsurance company, with a participation in ERGO’s capital of 99.69%.

GIANFRANCO BISAGNI IS PROMOTED TO HEAD OF CORPORATE & INVESTMENT BANKING IN CEE

30.03.2011

Marco Esposito is appointed as Head of Corporate Department, UniCredit Tiriac Bank.

Marco Esposito (51 years old) will be in charge of the Corporate Department of UniCredit Tiriac Bank, as Gianfranco Bisagni (52 years old) was promoted to Head of Corporate & Investment Banking (CIB) of UniCredit for Central and East Europe (CEE).

The position G. Bisogni will be in charge with as of the 1st of April 2011 was previously held by Gianni Franco Papa, who is currently supervising all UniCredit operations in the CEE.

As Head of CIB in CEE, G. Bisagni will coordinate and develop the activities of Corporate segments in the Group’s subsidiaries for Central and East Europe.

G. Bisagni’s career in UniCredit began in 1977. Ever since, he held several positions, among which Chief Manager UniCredit Hong Kong Branch & Head of Corporate Banking Asia Pacific and top management positons in UniCredit New York Branch and UniCredit Chicago Representative Office.

Before being appointed a position in UniCredit Tiriac Bank, Marco Esposito lead, since January 2010 until now, the Corporate Department of UniCredit Bulbank (UniCredit subsidiary in Bulgaria).


On UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and East Europe, and one of the largest in Europe. 

UniCredit Tiriac Bank is truly a „one-stop-shop“ for banking services and 517,000 active clients are now the beneficiaries of these services, offered through 235 branches. In Romania, the Group offers a large variety of specialized products and services thanks to its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Partner.


On UniCredit

UniCredit is a top European bank, with strong roots in 22 European countries and with an international presence on 50 markets, with 9,538 branches and over 161,000 employees. In Central and East Europe, UniCredit operates through the largest international banking network, with almost 4,000 branches and units.

The Group is active in the following countries: Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, the Republic of Croatia, The Czech Republic, Estonia, Germany, the Republic of Hungary, Latvia, Lithuania, the Republic of Kazakhstan, Kirgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

UNICREDIT WILL ATTEND EARTH HOUR, A GLOBAL WWF EVENT AGAINST CLIMATE CHANGE

25.03.2011

In accordance with its commitment to the field of sustainable development, UniCredit will participate, on March 26th, in the global mobilization event of the association by switching off the light in some of its buildings for an hour

UniCredit will attend again this year "Earth Hour", a global event of the WWF which will be held on March 26th with the objective of generating awareness amongst individuals, institutions and companies on the problem of climate change.

Forty seven UniCredit representative buildings in Europe will switch off their lights for 60 minutes, starting at 8.30 pm local time, in order to symbolically bear witness to the commitment of the Group in combating climate change and to highlight the importance of reducing greenhouse gasses emissions. UniCredit also promoted the Earth Hour message through its internal communication channels by calling over 161,000 employees to participate in the event.

This is one of the initiatives promoted in recent years in the environmental field, with activities ranging from measures for energy efficiency, the utilization of renewable energy sources within headquarters and branch offices, and the inventorying of Group emissions. In accordance with this policy, UniCredit has selected the WWF in order to generate "symbolic visibility" of its awareness of the responsibility which financial groups have with respect to major environmental themes and sustainable development.

"UniCredit is increasingly convinced of the strategic importance of combining economic growth with the rational use of natural resources", declared Paolo Fiorentino, UniCredit Chief Operating Officer. "Our relationship with WWF has been ongoing for more than two years and during this period we have worked to integrate sustainability within our business. We have jointly worked to create the first inventory of our Group’s greenhouse gas emissions, with the objective of reducing them by 15% in 2012 and 30% in 2020".

Earth Hour, a global mobilization event against climate change organized by the WWF on Saturday March 26th, will cover 24 time zones (8.30 pm in Italy) with the lights of cities, symbolic monuments, institutions, companies, and houses across the world turned off. The objective for this year is to go "beyond the hour", committing citizens across the world to adopt responsible energy behaviors during day to day life in order to protect the planet against climate change.

UNICREDIT LITERARY DEBUT CONTEST ANNOUNCES THE SIGN UP FOR THE FOURTH EDITION

23.03.2011

Bucharest, March 23, 2011 - Catalist Association and UniCredit Tiriac Bank open today the sign up process for the fourth edition of UniCredit Literary Debut Contest. The contest is open to Romanian authors who have not published their work in a volume by now, and gives them the chance to see their literary creations on the bookstore shelves.

This year's sign up period will end on April 24 and the award ceremony, which will take place on June 23, will nominate the winners of the three competition categories: novel, short stories and poetry.

Same as previous years, the works signed up for the contest will be judged by literary and academic personalities. This year's jury will be comprised of: Liviu Papadima (Lecturer, Doctor of Philology, Dean of the Faculty of Letters, University of Bucharest), Paul Cernat (Literary Critic, Journalist, Lecturer at the Faculty of Letters, Bucharest) and Radu Paraschivescu (Novelist, Translator, Journalist and Editor).

The winning volumes will be published and promoted by Humanitas Publishing House at Gaudeamus International Fair - Educational books, 18th edition, which will take place in November 2011.

"For three years we have read the valuable works that got out thanks to UniCredit Literary Debut Contest", said Anca Nuta, Head of Identity & Communication UniCredit Tiriac Bank. "By supporting this cultural initiative, as a top European bank, we wish to offer young deserving writers a starting point in their literary career. The Literary Debut Contest is a national event that takes place with the support of UniCredit Tiriac Bank, and it is one of the many international art and culture projects undertaken with the support of UniCredit Group."

"We are very happy that we have managed to continue this project. I have said it before, it’s a team project in which each of us is trying to offer perspectives for young and less young talents", said Cristina GUSETH, Catalist Association’s manager.

UniCredit Literary Debut Contest will consist of two literary debates held at the Faculty of Letters, University of Bucharest, on March 31st, and at UNICREDIT PAVILION on the April 14th. These debates will gather famous names from the Romanian literary field and also encourage free interaction between literature fans.

Additional information about eligibility criteria, how to sign up for the contest, as well as information about editions of previous years, are available on the website www.bibliografia.ro and on the Facebook page of the contest.

UniCredit Tiriac Bank recorded a net profit of RON 171 millions in 2010

14.03.2011

  • The operational profit was increased by approximately 17% in 2010 as compared to the previous year, up to RON 779 millions and the operational revenues advanced by 8%, up to RON 1.363 billion.
  • The net profit for the previous year was RON 171 millions, an approximately 48% decrease as compared to 2009, amid higher provisions. The level of profitability is still a good one, given the context of the market.
  • The volume of total assets increased by 2%, up to RON 20.8 billion. The loan portfolio increased by 13%, as compared to 2009.
  • The risk cost associated with loans increased to an average of 2.94 percentage points.
  • The Bank had very good results in the process of increasing the satisfaction of its clients.


UniCredit Tiriac Bank recorded a net profit of RON 171.2 millions (EUR 41 millions) in 2010, according to the International Financial Reporting Standards (IFRS), a 47.9% decrease as compared to 2009, amid higher risk costs. The net profit, according to the Local Accounting Standards (RAS), was of RON 57.2 million the previous year (EUR 13.6 million). The annual return of own equity (ROE) was placed at 7.5% and return of assets (ROA) at 0.8%.

The Bank recorded an increase of 16.6% for the operational profit, up to RON 779 million (EUR 185 million), fed by a 8% increase of the operational revenues, given that the operational costs advanced only by 0.4%. The ratio between Costs and Revenues continued to grow, up to 42.5%, as compared to the 46.1% level in 2009 and an estimated 53% level for the banking system. The solvency ratio was placed at 12.5% according to RAS, a comfortable place above the regulatory level.

The net provisions for financial assets (mostly loans of the clients) increased by 61.8% as compared to the level in 2009.
“Last year was a very difficult one, marked as it had been by legislation changes that put pressure on the banking market in Romania and due to the prolonged crisis – determined by the corrective measures in the public sector and by the increase of the non-payment level. We focussed on identifying the solvent credit applications and on the adjustment to the new legislation, at the same time offering our clients who faced difficulties solutions for loan reorganisation. We tried also to offer concrete answers and real benefits to everyday challenges and opportunities encountered by our clients. Thus, we continued our development, and our investments in 2010 exceeded Ron 86 million”, stated Rasvan Radu, CEO UniCredit Tiriac Bank.

The volume of assets reached RON 20.8 billion (EUR 4.85 billion) at the end of 2010, a 2% increase as compared to the level reached at the end of December 2009. The volume of loans in balance was increased by 12.8% during the previous year, as compared to the level observed at the end of 2009, up to RON 13.5 billion (EUR 3.15 billion), the increase ratio being above the average in the banking system. If we include the outsourced credits, the credit portfolio placed itself at RON 16.4 billion. The clients deposits reached RON 11 billion (EUR 2.57 billion) on the 31st of December 2010, a 4% increase as compared to the level reached at the end of 2009. The ratio between credits and deposits at the and of the previous year was 123%.

Total consolidated assets of UniCredit Tiriac Bank, UniCredit Leasing Corporation and UniCredit Consumer Financing placed at EON 23.8 billion (EUR 5.55 billion) at the end of 2010, a 1.7% increase as compared to the level registered on the 31st of December 209, and the net consolidated profit of the three entities was of RON 145 million (EUR 34.4 million). The registered capital of the Bank advanced by 8.7%, up to RON 2.4 billion.

Management of risks inherent to loans represented one of the main concerns during the previous year, given the fact that UniCredit Tiriac Bank focused on supporting the clients during recession on one hand, and on managing the quality of assets, on the other hand. The ratio of over 90 days delays in payments of the loans reached 10.8% in 2010, above the level registered the previous year. The updated cost risk was placed at 294 basis points. Coverage by provisions of the loans portfolio increased to 6.8%. The volume of reorganized credits represented 19% of the portfolio at the end of the previous year.

Nevertheless, the quality of the Bank’s assets is better than the average for the banking system.

The Bank operated a series of optimizations, without resizing the territorial network, ending the year with 235 branches and 3,007 employees. 

Prospects

"Estimations for 2011 take into consideration a slow economical recovery, fed by external demand and a certain revival of the industry. The credit applications will be limited, and the risk cost will probably reach the peak during the current year. The decreasing tendency of the degree of debt will continue the following period, especially in the retail sector. We shall remain flexible when analyzing the short, medium and long term opportunities, we keep our development strategy and, as a top European bank, we would like to use as much as possible our abilities as suppliers of financial services", Rasvan Radu added.

UniCredit Tiriac Bank cooperates in 2011 with 23 Communication Ideas, Roglaski Grigoriu and Republika

10.03.2011

UniCredit Tiriac Bank appointed 23 Communication Ideas, Rogalski Grigoriu and Republika Interactive to develop the advertising campaigns through-the-line and Public Relations programs. The three agencies won the bids organized by the Communication Department of the Bank at the beginning of this year.

23 Communication Ideas will develop the creative strategy for UniCredit Tiriac Bank and will manage the execution of promotion campaigns for the Retail and Corporate products, as well as the image campaigns.

Rogalski Grigoriu Agency will cooperate with UniCredit Tiriac Bank in order to design and execute the PR strategy for 2011, meant to support the positioning of the Bank on the Romanian market. Rogalski Grigoriu team will also manage the tactical application of the internal communication programs of the Bank.

Republika Interactive will manage the image of UniCredit Tiriac Bank within the online environment, being responsible for the establishment and execution of the strategy and creative concepts in communication with the Romanian users.
"We have chosen three powerful agencies that proved to have a good understanding of our communication goals, the strategic and creative conceptualization a leading company needs. As a top European bank, we dedicate our efforts to bringing an extra value to our clients, by offering concrete answers and real benefits to the opportunities and challenges they face in their everyday life. Together with our partners we would like to put into practice a correct and appealing information strategy that would match our professional profile", stated Anca Nuta, Identity & Communication Manager of UniCredit Tiriac Bank.

Bogdan Naumovici, Art Director at 23 Communication Ideas, stated: "UniCredit Tiriac Bank is part of a powerful Group, activating in 22 countries, and it is about to conclude its positioning, the communication strategy or association with UEFA Champions League. Romania is one of the countries that have leadership in this process, for some of the components. It is a real challenge, something any communicator would enjoy. Last but not least, UniCredit Tiriac Bank Team is highly motivated and inspiring, a team I worked with in 2010 on the projects concerning UEFA Champions League."

"As early as reading the bidding brief, I understood that we had to get ready for an ambitious and powerful brand, whose objectives would challenge us, as far as strategy, creation and execution were concerned. We are highly motivated by the diversity of the actions and by all the professional opportunities brought to us by this new mandate", stated Alina Damaschin, CEO Rogalski Grigoriu.

"From the very beginning we appreciated the openness and understanding the Communication Team of UniCredit Tiriac Bank showed towards the online environment. That is exactly why we highly value this partnership, even more so since we are certain that together we shall develop innovative projects this year, on the online communication level, for Retail products and for Corporate Communication", said Justin Kadima, General Manager Republika Interactive.

On 23 Communication Ideas

23 is the shop for ideas of the Group Leo Burnett, under the leadership of Bogdan Naumovici and that finds unconventional communication solutions for solving business problems.

On Rogalski Grigoriu

Rogalski Grigoriu Public Relations is one of the most awarded and well known PR agencies in Romania, part of the Tempo Crative Group. Its success is based on the management process of brand reputation by means of ideas that influence the choices and beliefs of the public. Rogalski Grigoriu is the sole Romanian agency that won 4 IPRA (International Public Relations Assosiation) trophies for digital PR, creativty and eficiency in designing PR campaigns and 3 SABRE Golden Awards for excelency in management of crisis communication, public education and financial services.

On Republika Interactive


Republika Interactive, one of the main suppliers for promoting services online, is an interactive agency specialized on the development of social media applications and campaigns. Republika offers services for social media marketing, direct response marketing and brand reputation management, together with construction of optimized sites for browsers, development of pay-per-click campaigns and of campaigns for online commercial activism, but also for the development of social platforms, blogs, CMSs and interactive applications.

UniCredit Tiriac Bank - letter of comfort can make a difference in accessing european funds

21.02.2011

UniCredit Tiriac Bank urges the potential beneficiaries of EU funds to come to the bank’s branches before the feasibility study and the funding application to be completed.

We are taking into account the fact that, since February 2011, the presentation of the letter of comfort when submitting the projects is mandatory for all the projects whose private co-financing of the eligible costs represents at least 100,000 euros.

"We urge potential beneficiaries of European funds to come to the UniCredit Tiriac Bank  branches before the study of feasibility and the funding application to be completed. Thus, the active partnership created from the beginning between the beneficiary, a consulting firm and the bank will generate both proposals submitted in a timely manner, eligible, and bankable - the key to success for a higher degree of absorption of EU funds in Romania", explained Marius Radu, European Funds Coordinator, UniCredit Tiriac Bank.

The bank will issue the letter of comfort from the specific analysis and the approval of facilities dedicated to projects with European financing (bridge loan, letter of banking guarantee, credit of investment etc.). The model of the comfort letter is unique for all operational programs financed by the structural instruments (POSCCE - The Regional Operational Programme Increase of Economic Competitiveness, ROP - Regional Operational Program, SOP HRD - Human Resources Development Operational Programme etc.) and the value of facilities approved under which the letter of comfort will be issued will cover at least the private co-financing of eligible expenditures and ineligible project costs.

In terms of potential beneficiaries of the National Program for Rural Development there is already a model of the comfort letter; the minimum value affirmed covering the private co-financing of eligible expenses.

UniCredit Tiriac Bank granted in 2009 and 2010, banking facilities of over 360 million lei for about 150 projects with irredeemable funds. The bank provides financing and guarantee solutions extremely flexible, which may include fixed assets financed by the project, transfer of debt, any liens and mortgages or guarantee solutions offered by the national guarantee funds (FNGCIMM, FGCR) and Exim Bank.

Online B@nking from UniCredit Tiriac Bank numbers more than 100,000 users

16.02.2011

·         In 2010, UniCredit Tiriac Bank exceeded the limit of 100,000 users for the Online B@nking Service, meaning a 33% increase, as compared to last year’s figures.

·         The utility of this service is also proved by the great number of active users, almost 60%.

·         Online B@nking Service of UniCredit Tiriac Bank is one of the few banking services in Romania that allows our clients to form or to extend their time deposits or to activate other services, like Info SMS, without actually coming to the bank.

·         Payment of utility bills is free of charge if operated through Online B@nking, as UniCredit Tiriac Bank concluded several agreements with the contractors.

"Online B@nking is one of the most dynamic services provided by our bank, because it is very important for us to take into account the technological novelties, in order to offer the best possible solutions to our clients. In 2011 our goal is to increase by 40% the number of Online B@nking users and to enrich the offer of banking products that can be acquired directly, simply using this application, with no further need to come to one of our branch bank",  stated Bogdan Spuza, Marketing & Segments Director in the Retail Division of UniCredit Tiriac Bank.

The number of Online B@nking users reached almost 106,000 at the end of last year, out of which over 99,000 are Retail clients (individuals and IMM), all others being large companies. As for our Corporate clients, the extent this service is used (the number of Corporate clients who use Online B@nking as compared to the total number of Corporate clients) reaches 85%, for our IMM clients the ratio is 70% and for individuals, as clients, it is over 15%.

ADVANTAGES.

MONEY SAVING
 - The operations carried through Online B@nking are all free of charge for transactions between accounts open at UniCredit Tiriac or they cost 50% less as compared to those conducted at a bank teller, when the transactions are made to accounts open at other banks.
Also, the DIGIPASS device is free of charge for our IMM clients, Corporate clients or individuals, in the Personal Bank category.   

TIME SAVING - The service is active non-stop. Besides, the clients are offered technical professional assistance by phone, e-mail or online messages, Monday to Friday between 9 AM to 7 PM.

MOBILITY - Our clients can access Online B@nking from any place, as long as they have an available Internet connection, either via a computer or a mobile phone.

PROGRAM LIMITS for processing are extended, as compared to those at the teller bank - the clients have more time to operate the transactions.

NON-STOP INFORMATION - The client can verify anytime his expenses and from where those expenses were made, all he has to do is access the option “History” in the “Accounts Information” Menu.

"Online B@nking is our clients’ ally in fighting time. Thus, by means of a computer or of a mobile phone with access to internet, our clients can also access their money anytime, perfectly safe and with fair costs. This way, the transactions might be even 100% free of charge, if the operations are conducted between UniCredit Tiriac accounts and 50% less as compared to the teller bank transactions, if conducted towards other banks", states Doina Costache, Head of Multi Channel Management in the Retail Division of UniCredit Tiriac Bank.

The OPERATIONS that can be conducted by means of Online B@nking 24 hours a day, 7 days a week, are the following:

·         Payments in lei to suppliers of services (electricity bills, gas bills, telephone bills, leasing installments, TV cable bills, etc);

·         Payments in foreign currency and currency exchange;

·         Checking of the balance and of the transactions to and from the accounts;

·         Checking of the card reserved transactions;

·         Checking the statement of account for those who possess a credit card;

·         Internal transfers between the accounts of the same client;

·         Payments in RON and foreign currency at a specific date;

·         Forming and annulment of deposits;

·         Checking the rate of interest and the exchange rates at UniCredit Tiriac;

·         Interactive communication with the bank due to the access to online messages;

·         Payments in lei and in foreign currency, intra- and inter- banks, including the Treasury;

·         Authorizing Direct Debit right through Internet banking;

·         Filling in the forms from the teller bank and sending them on/from Internet banking, thus avoiding going to the bank;

·         Personalizing the Menu by introducing “Favorites”, thus saving time;

·         Activating Info SMS from inside the application (in order to receive SMS on the mobile phone, concerning the activity on the accounts).

Operating the transfers is easier due to:

- The possibility of saving information concerning the beneficiaries and the payments patterns, for the transfers in lei as well as the transfers in foreign currency; 
- The existence of predefined patterns the bank possesses for payments in the accounts of utility suppliers;
- The possibility of creating payment orders for a specific date.

DIGIPASS is an electronic device that generates a unique access code, called security code, which is used for identification on Online B@nking as well as for signing the operations the client makes.

Press conference for the start of the preparations for George Enescu International Festival and Contest - 2011 edition

26.01.2011

On Wednesday, January 26th 2011, at 2.00 PM, in the Aula of the 'George Enescu' National museum took place the Press Conference organized for the start of the campaign for the national media coverage of 'George Enescu' International Festival and Contest - 2011 edition,
 
The conference was attended by: 
- Mr. Kelemen Hunor - Minister of Culture and National Patrimony 
- Mr. Ioan Holender - Festival Manager 
- Prof. Dr. Sorin Oprescu - General Mayor of the Bucharest Municipality
- Mr. Alexandru Lazescu - President - General Manager of the Romanian Television Company
- Mr. Demeter Andras - President - General Manager of the Romanian Radio Broadcasting Company
- Mr. Horia Roman Patapievici - President of the Romanian Cultural Institute
- representatives of the partners and sponsors of the Festival.

The conference was hosted by Mrs. Camelia Spataru - PR & Communication, 'George Enescu' International Festival and Contest

The press conference presented information on:
- agenda of the 'George Enescu' International Festival and Contest - 2011 edition; 
- advertising materials of the 'George Enescu' International Festival and Contest - 2011 edition; 
- artists and groups taking part in the edition 2011 of 'George Enescu' International Festival and Contest; 
- development status of the preparations for the organization of the 'George Enescu' International Festival and Contest, edition 2011;
- sponsors and partners;
- artistic events in the territory.

The 'George Enescu' international contest shall take place in the interval September 3-11, and tickets shall be sold starting March 15. This edition shall present over 280 works. 13 big European orchestras and 14 international chamber orchestras shall come to Bucharest. Some of the reference names are: The Philharmonic of Vienna, the Philharmonic of Israel with Zubin Mehta, the Symphonic Orchestra of Santa Cecilia with Antonio Pappano, the London Symphony Orchestra and the National French Orchestra come to Bucharest again. 

'The Enescu Festival defines our identity', Dan Pascariu, president of the Supervisory Board of UniCredit Tiriac Bank stated. 'For over 15 years, the George Enescu Festival and Contest constantly brings Romania international recognition. UniCredit Tiriac Bank, as an institution that is part of a group with tradition in Maecenatism, has the honour to be again the main partner of the event which has become in time one of the most important classical music festival in the world. I believe that thanks to its artistic calibre and extraordinary effect of placing Romania on the map of international culture, the George Enescu Festival defines our identity and gets us a remarkable place not only in Europe, but all over the world.'

The festival in the foreign media
The prestigious British daily «The Telegraph» - speaking about the Bucharest Festival, headlined 'How music can restore a nation's pride. A Festival in Bucharest shows how classical music can leap over the barriers of language and history’ 

'The top cultural event of the year in Romania is the «George Enescu» Festival that shall be held in Bucharest. The manager of the internationally well-known event dedicated to classical music is no one else but Ioan Holender and this event takes place every two years, counting 20 editions so far', according to the article published in Gewinn magazine, in which the Festival is also included in a selection of the most prestigious tourism cultural destinations.

The 2011 edition
The jubilee edition - the 20th, shall take place in the interval September 1-25, 2011 and includes symphonic and chamber concerts, recitals, opera and ballet shows in the main halls of Bucharest and in certain towns linked to the life of the Romanian composer. Most concerts shall be broadcast and recorded by the Romanian Radio and Television Company - together with the Town Hall of the Bucharest Municipality and the Romanian Cultural Institute - co-producers of the Festival.

The 'George Enescu' International contest shall take place in the interval September 3 - 11. 

This edition shall present over 280 works, among which: 
-  24 Enescu opuses
-  over 80 works of Romanian contemporary composers
-  10 opera and ballet shows

Participants: 
-  13 big European orchestras 
-  14 international chamber orchestras
-  19 chamber groups
-  6 choirs
-  41 concert soloists
-  6 recital soloists

Some of the groups that confirmed their participation in 2011 are the following: Wiener Philharmoniker / Franz Welser Möst, Israel Philharmonic Orchestra / Zubin Mehta, Yefim Bronfman, Vadim Repin, Staatskapelle Berlin / Daniel Barenboim, Orchestra dell’Accademia Santa Cecilia di Roma / Antonio Pappano, Orchestre National de France / Daniele Gatti, London Symphony Orchestra, Mariinsky Orchestra / Valery Gergiev, Liverpool Philharmonic Orchestra, Residentie Orkestr / Christian Badea, Hungarian National Philharmonic / Zoltan Kocsis, Boris Berezovski, Gulbenkian Symphony Orchestra/ Lawrence Foster, Saint Martin in the Fileds / Murray Perahia, Vladimir Fedoseev, Yundi, Isabelle Faust, Christian Zacharias, Surorile Labeque, Gidon Kremer, and Romanian artists and groups: Horia Andreescu, Dan Grigore, Cristian Mandeal, Dana Borsan, Luiza Borac, Viniciu Moroianu, the Voices Quartet, Alexandru Tomes, the 'George Enescu' Philharmonic, the Philharmonics of Cluj, Easy and Timeshare, the National Opera of Bucharest, 'Virtuosi din Bucuresti', the national Youth Orchestra and many others.
 
The agenda of the National Opera of Bucharest includes the productions 'Lohengin', 'Onegin' as well as a new production of the Opera 'Oedipe'. The concerts of the 'Enescu and his contemporary artists' series, including chamber works played by young soloists and internationally-famous ensembles, the concerts organized under the title 'Big international orchestras' and chamber recitals and concerts, as well as opera and ballet shows shall continue. 

Another series dedicated to contemporary music - 'The Music of the 20th Century' - shall present works of Romanian and foreign contemporary composers. The works shall be presented by Romanian and foreign groups and soloists. The series is accompanied by the organization of a 'Work-Shop' of young composers, Master's Degree and Doctor's Degree students of musical Universities in the territory.

A new series is entitled 'World Music' related to one of the Enescu's essential contributions to universal music: the use of specific national elements and their symphonic remaking. In this sense, composers and ensembles shall take part in the festival bringing to the stage remakes of Indian, Japanese, Argentinean, Yiddish, Lebanese, Moroccan music etc.

Concerts shall be organized in Arad, Cluj, Craiova, Iasi, Sibiu, Targu Mures and Timisoara. Considering that George Enescu also wrote important works for cello, the international contest shall have a new section - the cello one - apart from the piano, violin and composition ones. The contest interval is September 3 - 11, 2011.
 
The musicology symposium organized by the Union of Composers and Musicologists of Romania with the 'George Enescu' National Museum, shall be organized in the interval September 8-11, 2011. 
The agenda of the 2011 edition shall take place on the stage of 8 concert halls (Sala Mare a Palatului, the Romanian Atheneum, the National Opera of Bucharest, the 'I.L.Caragiale' National Theatre, the Aula of the National Art Museum, the ''Mihail Jora' Hall of the Romanian Radio Broadcasting Company, the Small Hall of the Romanian Athaeneum) and the Festival Square.

For the first time, in collaboration with the National Art Museum and the Art University of Bucharest, the Festival shall organize the plastic art exhibition 'E-Biennale' that shall reunite apart from already-famous artists young students of the National Art University of Bucharest in order to give the dimension of contemporary art of Romania.

The organizers of the 'George Enescu' International Festival and Contest, in collaboration with specialized institutions, are planning to make out of this cultural event, unanimously recognized and appreciated in Romania and abroad a cultural country brand representative for Romania. The special agenda conceived by 'Brandient', supported by major representatives of the Romanian mass-media shall attract the responsible and competent factors in this area that shall collaborate in the creation of a national and international image worth of the already-obtained prestige of this Romanian representative cultural event.

The agenda for the internal and international media coverage, creation and confirmation of the country brand shall be made in collaboration with the Festival Co-producers (the Romanian Radio Broadcasting Company, the Romanian Television Company, the Romanian Cultural Institute and the Town Hall of Bucharest Municipality), with representatives of major media trusts (Antena 3, Realitatea TV), and press trusts (Adevarul Holding, Romania Libera), foreign media partners (CNN, Euronews, Eurosport, Mezzo, Rfi, Deutsche Welle) and PR representatives of the Festival in Belgium, France, Germany, Italy and Great Britain. 

Starting March 15 subscriptions and tickets for the concerts of the Festival shall start selling - electronically -. 

Concerts of pupils and students of the musical school and universities as well as professional artists and groups shall be organized in the Festival Square.

Please consult the Festival Agenda at www.festivalenescu.ro.

CEE Banking Study 2010: the business model is being reshaped, but CEE banking remains an opportunity

20.01.2011

  • In the post-crisis environment, the higher cost of liquidity and risk necessitate a reshaping of the banking model,toward diversified lending strategies and a focus on sustainable growth
  • The "economic convergence" and the "financial penetration gap" stories still apply, remaining the drivers of upside potential for CEE banking
  • Access to capital and funding, good positioning and risk appetite are decisive for success in CEE banking. UniCredit confirms its commitment to the region, which is the Group engine for growth

Although Central and Eastern Europe were hard hit by the crisis, banking in CEE remains an opportunity. This is one of the key findings of the latest CEE Banking Study, conducted by UniCredit´s CEE Strategic Analysis department. The "financial penetration gap" and the "economic convergence" stories remain intact on a medium- to long-term perspective, providing the basis for an upside for banking in CEE. However the banking business, which in the past was to a large extent externally financed, has to be reshaped. The focus is gradually shifting toward more long-term sustainable growth, while risk control and efficiency remain in the spotlight. Risks remain, including challenges arising from the regulatory side.

Economic convergence and financial penetration gap stories still apply

After expected average growth of 3.6 percent for the CEE region in 2010, UniCredit researchers forecast growth to accelerate to some 3.8 percent in 2011. At the same time the growth outlook will vary significantly, with Central Europe, Turkey and the CIS gradually back on track, while South Eastern Europe is still lagging behind and addressing some necessary restructuring issues.

"The crisis did not affect CEE’s long-term potential related to the ‘convergence story’", said Gianni Franco Papa, new Head of CEE Division at UniCredit, "The regional growth model, based on capital inflows, growing competitiveness and improving standards of living is intact. And the same is true for the gap in the penetration with banking services". For example, mortgage financing penetration relative to GDP is expected to have approached the level of 8 percent in 2010. This compares with a ratio of 40 percent in the Euro area and indicates that market potential still exists. The catch-up potential is also evident on the corporate side, with loans to the corporate sector at 26 percent of GDP in CEE as compared to 52 percent in the Eurozone and the financial services offer to corporate clients still much less deep and diversified than the one which is common in more mature markets. 

Both the convergence and the financial penetration gap stories provide the base for the expected upside in banking business in CEE in the medium to long term. CEE banking will continue to grow faster than in more mature markets, however, potential growth will remain below pre-crisis levels, as all convergence drivers will be less influential than in the past.

"A rebalancing of the macroeconomic model implies a changing banking model", stated Debora Revoltella, Head of CEE Strategic Analysis at UniCredit Bank Austria, "Pre-crisis CEE banking was based on rapid lending growth, which was to a large extent externally financed". Leveraging on abundant international liquidity and low cost of country risk, local banks were able to support growth by financing domestic lending via international capital inflows in the context of low domestic saving rates. Both, retail and FX lending boomed. "Given the higher cost of funding and the increased cost of country risk today, there is a need for a stronger focus on domestic funding. Moreover lending strategies might become more diversified and more supportive for long-term economic growth in the future, meaning less consumer credit lending at least in the ongoing phase of recovery and more corporate lending, particularly toward the export-oriented – productive sectors" said Revoltella. Given these circumstances, corporate lending should become the engine for long-term competitiveness and growth in the region. 

The short-term outlook is improving but risks remain 

The economic crisis was reflected first in a liquidity crunch, followed by rapidly multiplying credit quality problems, accompanied by a credit crunch. In line with economic recovery, the second half of 2010 witnessed stabilisation in the dynamic of problematic assets, reinforcing signs that the peak in terms of non-performing loans might be reached between the end of 2010 and the beginning of 2011. "In terms of banking profitability 2010 proved to be equally as challenging as 2009, as some moderately lower provisioning requirements were offset by a lower revenues generation capacity", reckoned economist Debora Revoltella. "Full recovery from the demand side will be essential, before we may see an acceleration in lending activity and banking business in general." She expects strengthening in banks’ revenues generation capacity in 2011, all around the region, but notes that the pattern of recovery will remain moderate. 

Challenges ahead

Hand in hand with changes in the competitive landscape in global banking, the tougher post-crisis banking environment in CEE may drive further changes. While the international investors who have been active in the region in the last decade reconfirm their strong commitment to CEE, the search for optimal positioning could result in M&A activities or asset swaps, while newcomers in specific markets and at the regional level are already indicating their interest. 

"In this context, when distinguishing among the international players active in the region, the ability to leverage on a solid funding base and capital position, good access to international markets and favourable positioning, will increasingly become key success factors", said UniCredit manager Gianni Franco Papa. As UniCredit economists already stated last year, risk appetite is also crucial, making the difference between winners and losers. Papa regards UniCredit Group as well positioned to take advantage of the region’s further recovery. Availability of capital and funding (including the Group’s intention to allocate more capital to CEE), the widest network with strong positioning in the most dynamic markets in the region and good capacity to leverage on Group competences are the basis for future success.
 
Challenges ahead for the region’s banking industry include growing national and international regulatory pressures. In the short term concerns are related to the strong focus on regulating the FX business, as well as the implementation of overly demanding levies on banks. In the medium term the challenge is Basel III implementation. "While regulation is welcome in the aftermath of the crisis, the fear is that it might end up penalizing with excessive boundaries the cross-border banking model, which has been the base of economic and financial convergence in CEE", said Revoltella.

UniCredit 


UniCredit is a major international financial institution with strong roots in 22 European countries and an overall international network present in approximately 50 markets, with 9,600 branches, and more than 161,000 employees as of 30 September 2010.

In the CEE region, UniCredit operates the largest international banking network with nearly 3,900 branches. 

The Group operates in the following countries: Austria, Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Germany, Hungary,  Italy, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

UniCredit Tiriac Bank credit card holders have a 8% discount for UMC services

10.01.2011

UniCredit Tiriac Bank has signed a new partnership by which the private individuals clients who have credit cards issued by the bank automatically benefit from a 8% discount at all policlinic services of Unirea Medical Center (UMC).

The bank offers to its private individuals clients a wide range of credit cards, from MasterCard Standard, to MasterCard Gold, to MasterCard Gold Miles & More (which allows to the holders the accumulation of premium miles for airplane flights) and UNICEF affinity card.

This new benefit is part of a more complex loyalty program made available to UniCredit Tiriac Bank clients. The clients may benefit from up to 20% discounts for medical services, hotels, restaurants, tourism agencies, vehicle lease agencies or beauty & spa saloons. The complete list of the partners may be consulted on www.programreduceri.ro

"Our discount program allows the card users to save. At the same time, they can enjoy the advantages of some payment instruments that are sure, easy to use and that do not suppose any additional costs. For us it is very important to offer our clients benefits that answer their needs", said Bogdan Spuza, manager of marketing and segments within the retail division of UniCredit Tiriac Bank.


About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of UniCredit Group network, the largest bank group from Central and Eastern Europe and one of the largest in Europe. UniCredit Tiriac Bank is a true "one-stop-shop" of financial services, from which at present 520.000 active clients benefit by means of 235 branches. In Romania, the group offers a large range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Partner.

About CMU
CMU, after the recent merger with Euroclinic, is the most complex supplier of private medical services in the country. CMU means over 1.000 permanent doctors and collaborators in the three hospitals and over 23 policlinics present in Bucharest and in the country. CMU offers the most complex corporate subscriptions on the market, proving flexibility in offering health programs adapted to the needs of its patients. CMU doctors encourage the prevention and accession of medical services for a better management of the status of health.

UniCredit: The board of directors approves the strategic guidelines

15.12.2010

The new heads of CEE, Family & SME, Family & SME Italy Network and Human Resources have been appointed

Four main pillars for the strategic guidance:

  • Confirmation of the Group’s solid strategic platform, which is unique in Europe
  • International positioning enhancement to the benefit of clients and territories
  • Active management of asset allocation in favour of those areas with greatest expected return
  • Recovery of profitability and efficiency, and organizational simplification


The Board of Directors Appoints four internal managers in key positions

After the meeting from December 14th, UniCredit’s Board of Directors has approved the Group’s strategic guidelines, which are based on four main pillars, to be presented to the financial community by summer 2011.

The future development will benefit from the solid strategic platform having unique characteristics in Europe, from the wide European network of commercial banks, from the high number of clients and from the offer of high quality products and services supplied by the Group’s product companies.

The guidelines confirm UniCredit’s focus on clients and on the territories in which it is present, which will benefit from the relation with a bank having strong international presence and diversified know-how. UniCredit’s positioning in terms of business area composition and geographic presence provides the Group with important opportunities to significantly recover profitability also through an active management of asset allocation and ensures competitive advantage with respect to European competitors, in particular in all cross-border activities.

Central and Eastern Europe will be an important area of growth for UniCredit and will experience a progressive increase of the capital allocated in the following years. In this region, the Group will pay great attention to those countries having greatest expected return. The same selective approach will guide the business reassessment in those countries where UniCredit’s positioning does not allow an adequate level of profitability or critical mass.

The Corporate & Investment Banking division proves to be a fundamental pillar in the Group’s strategy and the approved strategic lines foresee its consolidation also through significant investments. The improvement of profitability will also pass through a recovery of efficiency, obtained through an organisational simplification which will render the capacity to meet client requests quicker and will further favour the closeness to territories and the understanding of their needs.

The actions to recover efficiency foresee in particular:

- A strong focus on restructuring and relaunching of activities in Italy and Germany, also by leveraging on the One4C project;
- The increase of productivity of risk weighted assets (RWA), also thanks to the growth of activities, which absorb a low level of capital like in the case of Asset Gathering;
- Consolidation of cross-selling activities by paying special attention to cross-border services, aimed at positioning the Group as a European leader in Trade Finance;
- The substantial reduction of cost of risk;
- The Corporate Centres’ downsizing, with a greater focus on business service.

In order to simplify the organisational structure, the Board has approved the proposal to include Leasing and Factoring activities under the competences of the General Manager, while Global Transaction Banking will be part of Corporate and Investment Banking.

As we move towards a more coherently defined regulatory framework and a more stable economic and financial environment, the management team will continue to work on a detailed plan, which will quantify the Group’s medium-term objectives and which is expected to be presented by next summer.

The Board of Directors has furthermore appointed the new Heads of UniCredit’s CEE, Family & SME, Family & SME Italian Network, and Human Resources Department Divisions. The appointments resolved upon by the Board enhance internal talents, who have grown within the Group also through international experience, as a proof of UniCredit’s capacity to create a strong top management line.

In particular, Gianni Franco Papa has been appointed as Head of the CEE Division, which was covered by Federico Ghizzoni until his appointment as CEO. Gianni Franco Papa will report to the General Manager. Born in Milan, 54 years old and Law graduate, Gianni Franco Papa started his career back in 1979 in the former Credito Italiano. In February 2008, he was appointed as General Manager of Ukrsotsbank in Ukraine and, in October 2010, he moved to Bank Austria, in Vienna, to cover the position of Head of CIB CEE.

The new office as Head of the Family & SME Division, whose set-up has been proposed to the Board of Directors today, will be held by Alessandro Maria Decio, who will directly report to the General Manager. Alessandro Maria Decio, 44 years old, was born in Milan and obtained a Master in Business Administration at INSEAD in Fontainebleu. After having worked in London as Director of the European Bank for Reconstruction & Development, in 2000 he entered UniCredit as Head of Strategy, Planning and M&A for New Europe. Decio continued his experience as Chief Operating Officer of Zagrebacka Banka in Croatia and and then in Bulbank in Bulgaria. He has been the COO of Yapi Kredi in Turkey since 2007.

The Board of Directors has furthermore appointed Frederik Geertman as Head of the Family & SME Italy Network. To date, this office has been held ad interim by Gabriele Piccini, Country Chairman Italy, who will be able to fully focus on his main role. Frederik Geertman, 40 years old, graduate in Chemical Engineering and having a Master in Business Administration at INSEAD in Fontainebleu. Frederik Geertman has been working in the Group since 2003 and has developed sound experience in the distribution channels. Effective as from the merger with Capitalia back in 2007, he has been the Head of the Retail Marketing & Segments.

Paolo Cornetta has been appointed as the Group’s Human Resources Director, substituting Rino Piazzolla, who will leave UniCredit in the following weeks to pursue new professional challenges. Paolo Cornetta, 49 years old, has a degree in Law, has obtained a Master in Business Administration at Università Bocconi in Milan and has developed long professional experience in the Human Resources sector. After having been the New Europe HR director and, subsequently, the Head of Executive Development & Compensation, he has held the office as Head of HR

Family & SME since July 2009 and has recently held the office as HR Italy Director. UniCredit also communicates the appointment ofGiuseppe Scognamiglio as Head of Institutional and Regulatory Strategic Advisory in replacement of Carmine Lamanda, who has terminated his working relationship as an employee of UniCredit. Giuseppe Scognamiglio, 47 years old, has a degree in Law and has started his diplomatic career in the Italian Ministry of Foreign Trade in 1989 – he has since then worked in many high profiles roles, being a Diplomatic Adviser of Cabinet Ministers from 1999 to 2001, and then being in charge of the policy of support for the internationalization of the Italian economic system. In 2003 he joined UniCredit as Head of Institutional and International Affairs, his current job to date.

Prize winners of UniCredit Literary Debut Contest launch their works at Gaudeamus International Book Fair

19.11.2010

Bucharest, 19 November 2010 - The books which were awarded prizes at the 2010 UniCredit Literary Debut Competition, initiated by Catalist Association and UniCredit Tiriac Bank will be launched today by Humanitas Publishing House at the 17th edition of Gaudeamus International Book Fair - Learning Book. The event will take place at 5 p.m., at Humanitas bookstall, within the Central Pavilion of Romexpo.

The third edition of UniCredit Literary Debut Contest has attracted the participation of over 120 manuscripts, for the three sections: poetry, short stories and novel. The selection of the works has been done by a specialised jury which included Liviu Papadima (Professor, Doctor in Philology, Dean of the Faculty of Letters, University of Bucharest), Paul Cernat (literary critic, publicist, university lecturer at the Faculty of Letters, Bucharest) and Marius Chivu (editor-publisher at Dilema Veche and Dilemateca). 

This year’s winners were: Laurentiu Ion from Bucsani Village (Dambovita county), winner of the POETRY section, with the volume "Destula pace pentru un razboi" (Enough peace for a war), Adrian Buzdugan from Braila, winner of the SHORT PROSE section, with the volume "Capela excomunicatilor" (The excommunicates’ chapel) and Catalin Pavel from Bucharest, winner of the NOVEL section, with the volume "Aproape a saptea parte din lume" (About one seventh of the world).

"For me, this debut represents a quiet joy; which came at a suitable age, the age at which I am not aiming for the vain glory any more, but for the opportunity to speak up!", said  Adrian Buzdugan, the winner of the short prose section. "For the others, for the young authors, it is an Event: the old editorial ways can be overrun by such a project as that initiated and supported (for three years already!) by UniCredit Tiriac Bank and Catalist Association. It is a proof that we can write real literature, without being forced to make any concession, and that your works can be published!"

"An extraordinary chance, by means of which the texts written in the volumes can really come to life. Or, why not, the end of a cycle, of an important part of my life, and at the same time, a new beginning", declared Laurentiu Ion, author of the volume Destula pace pentru un război.

"To make your debut as a writer does not only mean to give the others access to what happens in the factory/library/pub of your mind (after all, this is a questionable interest), but it opens the world for you, it makes it exist more strongly, it is as if you could hear the music "louder". To hold in hands my own book, something which is out of me, means to give something back to me - which is not only a professional, but also an existential opportunity ", outlined Catalin Pavel, winner of the novel section.

"We have initiated with literary contest three years ago, because we were convinced we can do something real and support young authors in that moment in their career when they really need support", said Anca Nuta, Director Identity & Communication within UniCredit Tiriac Bank. "We are at the same time partners, readers and promoters of the winning works. Our satisfaction is that through this project we succeed in making the most beautiful dreams of writers come true, which is to be discovered and to be able to see their own books in bookstores and libraries".

"I am very glad we can give this natural signal and the hope that we can contribute with as much as we can to setting up a hierarchy based on values! I congratulate the winners and thank everyone who helped this project achieve its purpose", stated Cristina Guseth, director of Catalist Association.


# # #

UniCredit Tiriac Bank
UniCredit Tiriac Bank is a financial institution whose cultural and artistic sponsorship activities put an accent on visual arts, covering at the same time musical and literature domains, thus continuing UniCredit’s tradition. The bank sustains financially the first independent centre for arts and culture opened under the name of PAVILION UNICREDIT, being, at the sane time, a strategic partner for the Bucharest International Biennial for Contemporary Art. The cultural and artistic part of UniCredit Tiriac Bank’s strategy for ethics and responsibility materialize in long term projects, as George Enescu International Festival and Competition and UniCredit Literary Debut Competition.

About Catalist Association
Catalist Association was established in 2007 with the aim of promoting Romanian culture, the book in general, as well as of supporting future Romanian writers. Its main activities include: developing partnerships with Romanian publishing houses for book reviews; promoting books among readers - by means of www.bibliofagia.ro website; book reviews; developing and maintaining partnership relationships with the local media in order to promote the reviewed books; publishing book reviews in the local media. Among the activities developed there are also: UniCredit Literary Debut Contest initiated in partnership with UniCredit Tiriac Bank, which aims at supporting writers whose works have not been published until now; the serial novel, published exclusively online, written by five young Romanian prose writers - a literary experiment which benefits from the public participation.

UniCredit & Universities Foundation is supporting a young Romanian talent to attend a prestigious Master Programme in Italy

17.11.2010

Bucharest, November 17th 2010 - Dorina Damsa is the winner of the Scholarship for the Master in European Studies organized by the LUISS School of Government and funded by UniCredit & Universities Foundation

Dorina Damsa, from Bucharest, 25 years old, was selected among fifty-five young talent coming from all over Europe. She stood out from her peers for her impressive academic studies and experiences. She achieved her International Relations and Strategic Studies in the Netherlands at Utrecht University and in the United Kingdom at the University of Saint Andrews, she carried on her research in human rights at the University of Utrecht and she did an internship at NATO, in Brussels. 

Thanks to UniCredit & Universities scholarship, Dorina will have the possibility to attend the one year Master programme in European Studies in Rome so having the chance to become a future expert in European affairs. As part of the programme, she will have also the opportunity to visit the experts at the European Commission in Brussels. Thanks to the academic and professional skills gained during this master course Dorina will certainly be able to start a career within European institutions, national government institutions, private sectors, NGOs and International public policy research centres. Indeed, most of the LUISS School of Government network of alumni are currently holding leading positions in several national and international organisations and in the private sector.

The LUISS School of Government is an innovative centre for scientific and professional training, the first in Italy, one of the few in Europe.  

"Funding this initiative, says Giannantonio De Roni, Secretary General of the Foundation,  UniCredit & Universities once more testifies its commitment investing in the future and supporting the best students and researchers from all over the European perimeter of UniCredit Group in the fields of economics and finance". 

Among with Dorina Damsa, five young people from Azerbaijan, Hungary, Italy, Russia and Turkey will be granted scholarships for the university year of 2010-2011 at LUISS School of Government.


UniCredit & Universities Foundation
UniCredit & Universities Foundation is a non-profit organization that enables young European students in economics and finance to reach their true potential by financing their ongoing studies and research through several scholarships and awards. UniCredit & Universities participates in this way to the education of the best European talent, funding only those deserving students who are committed with perseverance and dedication to the goals and values of the Foundation and the Group.

UniCredit Tiriac Bank
UniCredit Tiriac Bank is a financial institution whose cultural and artistic sponsorship activities put an accent on visual arts, covering at the same time musical and literature domains, thus continuing UniCredit’s tradition.
The bank sustains financially the first independent centre for arts and culture opened under the name of PAVILION UNICREDIT, being, at the sane time, a strategic partner for the Bucharest International Biennial for Contemporary Art. The cultural and artistic part of UniCredit Tiriac Bank’s strategy for ethics and responsibility materialize in long term projects, as George Enescu International Festival and Competition and UniCredit Literary Debut Competition.

UniCredit Tiriac Bank obtains RON 215-million net profit in the first nine monhts of 2010

10.11.2010

November 10, 2010 - UniCredit Tiriac Bank displayed a net profit of RON 215 million (EUR 52 million) according to the International Financial Reporting Standards (IFRS) in the first nine months of the current year, 15% less as compared to the result obtained in the similar interval last year. The annualized return on equity (ROE) amounted to 12.4%, and the return on assets (ROA) amounted to 1.5%.

The bank registered revenues of RON 1.023 billion (EUR 245 million) in the first nine months of the current year, 15% more as compared to the similar interval of 2009. Operational expenses only went up 1% as compared to the first nine months of last year. The cost and revenue ratio continued to improve, up to 41.8%.

The solvency rate is at the comfortable level of 12.6% according to RAS.

"The fiscal consolidation measures adopted in July this year, although necessary, had a significant negative impact over consumption, investments and economic evolution in general. Long-lasting recession and revenues drop among the population have serious effects over the banking system, in terms of asset quality and revenues”, Rasvan Radu, CEO of UniCredit Tiriac Bank stated.

Assets volume amounted to RON 20.2 billion (EUR 4.7 billion) at the end of September this year, 1.2% more as compared to September 30, 2009. The balance credit portfolio has gone up 13% since the beginning of the year, up to RON 13.3 billion (EUR 3.1 billion), the rate over the average of the banking system.

Clients' deposits amounted to RON 9.5 billion lei (EUR 2.2 billion). The credit risk had gone up, but remains below the average of the banking system, in which delays over 90 days in the payment of the instalments amounts to 11.5%. The coverage with provisions of the portfolio has gone up to 7.1% according to IFRS.

Total consolidated assets of UniCredit Tiriac Bank, UniCredit Leasing Corporation and UniCredit Consumer Financing amounted to RON 23.4 billion (EUR 5.5 billion) at the end of September 2010. The bank's share capital amounts to RON 2.4 billion (EUR 565 million). The Group's net consolidated profit amounted to RON 191 million (EUR 46 million) in the first months of 2010.

The UniCredit Group observed its commitments assumed under the Vienna Initiative, maintaining its total exposure before Romania above the limit agreed upon with the international financial institutions an continuing to actively support Romanian economy.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the biggest banking group in Central an Eastern Europe. UniCredit Tiriac Bank is a true "one-stop-shop" offering financial services, with a number of 526,000 active clients, and 234 branches. In Romania, the group offers a wide range of specialized products and services with the help of its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Partner.

UniCredit Tiriac Bank launches first UNICEF affinity card in Romania

10.11.2010

  • UniCredit Tiriac Bank S.A donates to UNICEF, from the bank's revenues, the amount representing 1% of the value for each transaction performed with the UNICEF affinity card with traders
  • Moreover, the bank will also transfer to UNICEF 50% of the annual fee of the UNICEF product package
  • The UNICEF affinity card is available as credit and debit card

Bucharest, November 10, 2010 - UniCredit Tiriac Bank introduces the first affinity card launched together with UNICEF in Romania. The product, issued on the MasterCard platform, addresses to all clients that by using the UNICEF affinity card with traders want to support the UNICEF initiative regarding the creation of mother-child hospital rooms in Romanian maternities. By the endowment and furnishing of maternities also supported by the training of the medical staff, they could enter the Baby-Friendly Hospital initiative and become breast feeding promotion centres.

"The card's mechanism is very simple: UniCredit Tiriac Bank donates from the bank's revenues the amount representing 1% of the value of each transaction performed with the UNICEF affinity card with traders, without any additional cost for the holders'” according to Bogdan Spuza, Marketing and Segment Manager of UniCredit Tiriac Bank. '”ard owners will know exactly what amount was offered by donations in their name to UNICEF, because they will receive monthly-updated information from the bank. Moreover, we have decided that 50% of the annual fee of the UNICEF package to also be transferred to UNICEF."

The UNICEF affinity card is available as credit and debit cards. Both product types offer to their holders the possibility to perform Internet transactions and obtain information about their balance directly from the ATM. Cards are embossed, they have the chip technology incorporated, they can be used both nationally and internationally. They can also be enrolled for free in the 3D Secure system in order to perform secured transactions on the Internet. 

"The UNICEF affinity card shows how the programme of transformation of the Romanian maternities can be constantly supported, helping the UniCredit Tiriac Bank clients to donate without making any additional financial effort. They can donate only by paying their purchases with this card, as they would do with any other normal debit or credit card”, Cosmin Vladimirescu, Country Manager for Romania and Moldavia, MasterCard Europe says. ”We are happy that this product, with a generous mission addressing very acute social problems, is also made under the MasterCard brand and we can also valorise through it the vast experience we have accumulated on the local co-branded affinity card segment.”

The minimum revenue necessary for the release of the UNICEF credit card is RON 1,000. The credit limits is RON 30,000, but not more than the equivalent of three net salaries. The grace period may be 56 days, and the minimum monthly amount to be repaid only represents 5% of the used amount.

The UNICEF affinity card is supported by Andreea Marin Banica, as Goodwill Ambassador for UNICEF in Romania.

"Beautiful selfless gestures are even more admirable when made in a difficult period that challenges us all”, Andreea Marin Banica says. "It is a sentiment of special fulfilment to know that you are a chain link in a huge chain of humanity. A routine gesture, such as the card payment with a trader, can change into well the life of a child and can provide a healthy development to him/her."

"The UNICEF - UniCredit Tiriac Bank card represents a premiere for the Romanian market and for us”, Edmond McLoughney, UNICEF Romania representative stated. "UNICEF Romania will use the collected funds to expand the Baby-Friendly Hospital network. The children born in these maternities will have the best start in life, they will be healthier, more intelligent and more emotionally-balanced. Mothers will be happier, and the health system will spend less for their care. The UNICEF objective is for all Romanian maternities to adopt Baby-Friendly practices on a long term.”

Full details about the UNICEF affinity cards are available at all UniCredit Tiriac Bank branches, on www.unicredittiriac.ro orwww.spitalprieten.ro.


# # #

About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of the UniCredit Group network, the biggest banking group in Central and Eastern Europe and one of the biggest in Europe. UniCredit Tiriac Bank is a real 'one-stop-shop' of financial services that 520,000 active clients are now benefiting from through 234 branches. In Romania, the group offers a wide range of specialized products and services through its partners.

About UNICEF
UNICEF is present in Romania and other 150 countries and territories in order to promote child survival and development, from early childhood to adolescence.
In Romania, UNICEF supports children's rights through health and nutrition programmes, quality education and child protection against violence, negligence and HIV/AIDS. UNICEF is fully supported financially by voluntary contributions of individuals, corporations, foundations and governments.

About MasterCard Worldwide
As a top payment company, MasterCard Worldwide is the chore of commerce. MasterCard is a franchiser, processor and advisor in the payment industry and supports trade, providing a major economic link between financial institutions, authorities, companies, traders and card holders in the world. In 2009 consumers globally generated a gross transaction volume of USD 2.5 trillion on products issued under the company's brands. With the support of MasterCard Worldwide Network - the world's fastest payment-processing network - MasterCard annually processes over 22 billion transactions and has the capacity to manage 140 million transactions hourly, with an average duration of 140 milliseconds and accuracy of 99.99. MasterCard  promotes global commerce through its brand family including MasterCard®, Maestro® and Cirrus®,  through its basic products - credit, debit and prepaid - and through its innovating platforms and functionalities such as MasterCard PayPass™ and MasterCard inControl™. MasterCard serves consumers, authorities and companies of over 10 countries and territories. For further information, access www.mastercard.com. Follow us on Twitter: @mastercardnews.

UniCredit Tiriac Bank has a new manager responsible for the Retail Division

02.11.2010

Emanuele Butta (44 years old) was appointed on the 1st of November 2010, head of the retail Division of UniCredit Tiriac Bank, replacing Zoltan Major, who will hold a position at regional level within UniCredit group.

Previous to the taking over of these new responsibilities, Emanuele Butta was Head of CEE Retail Sales within UniCredit group and he coordinated the implementation of several projects, both in Romania, as well as in other countries where the group carries out its activity, such as Russia, Serbia, Czech Republic  and Kazakhstan.

Emanuele Butta joined UniCredit in 1992, during the 18 years occupying various positions in the Retail division in Italy and at group level. Butta waits for the approval of the National Bank of Romania (NBR) for the confirmation in the position of Executive Vice-president responsible for the Retail Division.

Zoltan Major has occupied the position of Executive Vice-president of the Retail Division of UniCredit Tiriac Bank starting from 2007, and now he is to take over a management position at regional level.

UniCredit & Universities Foundation awards EUR 30,000 for the best doctoral dissertations on European integration

04.10.2010

UniCredit & Universities Foundation has launched the first competition for 6 CEE Best PhD Thesis Award aimed at all young PhD graduates from the 19 Eastern European countries belonging to the geographical scope of our Group (Group geography except for Italy, Austria and Germany).

The prizes will be awarded to 6 outstanding doctoral dissertations in economics, political economy, banking or finance on European integration issues. Two prizes will be assigned to dissertations on migration, two will be assigned to dissertations on development and demography, while the last two are unrestricted (to be assigned to any other topic). The PhD dissertations must be written in English and have been examined within the 18 months period up to 30 June 2010 (i.e. from 1 January 2009 up to 30 June 2010).

UniCredit supports performance and professional excellence at any level, both within the Group and within the local communities where it activates. By this contest we wish to recognize those principles among the European academic community as well. 

Applications must be sent by the deadline of December 31, 2010, here.

The new ERGO Oportun, live insurance with investment possibility through the S&P 40 BRIC index

04.10.2010

UniCredit Tiriac Bank, in collaboration with UniCredit Bank AG Munchen and ERGO Asigurari de Viata launch the ERGO Oportun product, an Index Linked live insurance providing the possibility of investment depending on the evolution of the Standard & Poor’s 40 BRIC Index.

The Standard & Poors 40 BRIC index takes into account the evolution of the most important 40 companies of the countries abbreviated as BRIC (Brazil, Russia, India and China). These companies are transacted on reputed international stock markets (London, Hong Kong, NYSE, NASDAQ) and observes the transparency standards of these markets.

The composition of the index takes into account the domains that these countries are well-known to have a great economic impact for: natural resources, energy, financial services. Economists estimate that the BRIC economies will dominate world economy in the future.

The investment in ERGO Oportun starts from the minimum amount of EUR 3,000. The subscription interval ends on November 30, 2010.

Product benefits:

- The invested capital is guaranteed 100% by UniCredit Bank AG Munchen, a financial institution with international reputation, member of the UniCredit Group and issuer of these transferable securities
- A Bonus of 10% of the invested amount shall be paid by the issuer if upon maturity the value of the SP 40 BRIC index exceeds the original value at the 10 assessment dates
- Participation in the evolution of the SP 40 BRIC index (weighted), an index with a major increase over the past few years, an index developed by the prestigious financial rating company Standard&Poor’s
- Life insurance along the contract duration of at least 110% of the invested money
- Great potential gains by the participation in the fast growth of the BRIC economies
- Guarantee upon maturity of 100% of the invested capital provided by UniCredit Bank AG Munchen
- Possibility to increase income by the participation in the benefits provided by the increase of the S&P BRIC 40 index
- Flexible method of optimization of the risk-profitability relation
- Professional asset management by UniCredit Bank AG Munchen
- Possibility to sell before maturity at the current market value
- For the protection of your beloved persons, life insurance of at least 110% of the invested capital in case of death
- Minimum investment of only EUR 3,000, Sole Premium
- The trust provided by the collaboration of two big European financial groups: UniCredit and ERGO
- Associated deposit: Oportun


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the greatest baking group in Central and Eastern Europe and one of the biggest in Europe. UniCredit Tiriac Bank is a real ‘one-stop-shop’ of financial services of which 520,000 active clients benefit currently through its 234 branch offices. In Romania, the group provides a wide range of specialized products and services also through its partners.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit Group, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Tiriac Bank is a true "one-stop-shop" for financial services, currently serving 520 thousand active customers through its 234 branches. In Romania, the bank is providing a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.


About UniCredit 
UniCredit Group is a major international financial institution with strong roots in 22 European countries as well as representative offices in 50 markets, approximately 9,600 branches and more than 162,000 employees at 30 June 2010. UniCredit Group is market leader in Central and Eastern Europe, where it is one of the largest players in the banking market, with an extensive network of approximately 4,000 branches.

The Group operates in the following CEE countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.


About the ERGO Group
With premium income amounting to € 19 billion, ERGO is one of the major insurance groups in Europe. Worldwide, ERGO is represented in more than 30 countries and concentrates on Europe and Asia. In Europe, ERGO is no. 1 in the health and legal expenses insurance segments, and in its home market of Germany it is among the market leaders. Over 50,000 people work full-time for the Group, either as salaried employees or as self-employed sales representatives.

ERGO offers a wide spectrum of different types of insurance and investment products, striving to be the permanent no. 1 choice for all provision and insurance needs of its clients. Over 40 million customers urrently place their trust in the services, expertise and financial strength provided by ERGO and its affiliate companies. In Germany, 20 million customers trust powerful brands of the ERGO Group such as D.A.S., DKV, Hamburg-Mannheimer, KarstadtQuelle or Victoria.

ERGO is part of the Munich RE Group, one of the world's leading reinsurers. Under the umbrella of Munich RE, both primary insurer and reinsurer capitalize on opportunities to turn risk into value. The investments undertaken by Munich RE amounting to approximately € 182 billion - of which € 113 billion are accounted for by ERGO - are managed by the experienced MEAG, a joint asset management and fund company. Munich RE holds 99.69% of the ERGO Group. ERGO Asigurari de Viata SA is fully owned by the ERGO Group.

Federico Ghizzoni appointed new chief executive officer of UniCredit

01.10.2010

The Board of Directors of UniCredit SpA, today in Warsaw, has unanimously co-opted and appointed Federico Ghizzoni as new CEO of the Group. As CEO, Federico Ghizzoni is a member by right of both the Permanent & Strategic Committee and the Corporate Governance, Human Resources & Nomination Committee of UniCredit.

Federico Ghizzoni, 55, has served as Deputy CEO of UniCredit and Deputy CEO of Bank Austria. In 1980, he joined UniCredit (at that time Credito Italiano) and has since worked for the company while serving, among other places, in the UK, Singapore, Turkey and Poland. In July 2007, he was appointed Head of Poland's Markets Division at UniCredit, Head of CEE Banking Operations and Board Member responsible for the CEE Banking Division at Bank Austria AG. Ghizzoni played a major part in the development of UniCredit's CEE franchise, strengthening the bond between UniCredit and the Group's major CEE markets. Under his auspices, UniCredit was named "Best Bank in CEE" by the magazine The Banker in 2009.

When considering the candidacy of the new CEO, the Nomination Committee took a number of qualifications into account, including strong leadership, capacity of teambuilding, an excellent understanding of international financial services, organizational skills and deep knowledge of the company structure. The Board of Directors came to the unanimous conclusion that Ghizzoni met all of the criteria, making him the best person to assume the role of Chief Executive Officer of UniCredit.

Dieter Rampl, Chairman of the Board of Directors of UniCredit, commented.

"Federico has a deep knowledge of the Group and a strong reputation, internally and externally. His constant and close interaction with policymakers, regulators, international organizations and market participants makes him ideally suited for managing UniCredit’s relations with all key stakeholders. This is particularly important during these times, when regulatory and institutional frameworks are still evolving, and financial markets remain exposed to possible swings in volatility. Furthermore, his impressive qualities as both a leader and a team player will enable him to leverage UniCredit’s strong human capital to the maximum benefit of all our stakeholders.”

Chairman Rampl added: “Federico will continue to advance UniCredit's position as a leading European bank - a position that was maintained under the leadership of his predecessor, Alessandro Profumo. His appointment as CEO further underscores our long-term commitment to Central and Eastern Europe, a region with strong growth potential. Moreover, his deep understanding of our Italian home market and his extensive international experience make him the best person to lead UniCredit through a challenging economic and financial environment that is becoming increasingly and irreversibly globalized."

As Federico Ghizzoni himself stated:

"I am honored to have been asked by the Board to be the Chief Executive of UniCredit. Having served 30 years in the Group, I am enthusiastic to confront the challenges ahead. As an international bank with a strong foothold in 22 countries and a European focus in terms of management, products, customer services and market access, UniCredit is uniquely positioned to support the financial needs of our global customer base. It is an exciting task to build upon UniCredit’s position and I look forward to working with the Management Team to realize the enormous potential of our Group."

Together with the new CEO the Board will study in the coming weeks the best leadership model for the Group and a proper allocation of functions, taking into account the professional skills and excellencies of the individuals in the management-team, who have most contributed to the successful development of the Group.

UniCredit Tiriac Bank entered into a convention with RCS & RDS for the payment of invoices

30.09.2010

UniCredit Tiriac Bank entered into a convention with RCS & RDS, in order to facilitate the payment of invoices issued by the telecommunication operator via the bank’s channels.

"The partnership with RCS & RDS enables our clients to save time, by using modern payment methods that are convenient and safe, such as bank transfer, card or the multifunctional machines provided by the bank", said Simona Boteanu, Head of Cash Management & E-banking within UniCredit Tiriac Bank.

Thus, the following channels for payments are available:

Cash:

- At any cash desk of the bank, by showing the invoice
- At the Non-Stop Banking Multifunctional ATM’s, by scanning the barcode on the invoice

Bank card:
- in the ATM network of the bank, by using only cards issued by UniCredit Tiriac Bank

Bank transfer:
- For bank transfers, the UniCredit Tiriac Bank clients who use the OnlineBanking / BusinessNet systems have customized payment templates at their disposal, containing a series of pre-filled details, in order to facilitate the buyer to enter the data.

RCS & RDS is committed to provide its clients with full accessibility to complete and modern ways for invoice payment, and the recent possibility to pay the invoices through UniCredit Tiriac Bank is an important step in the company's projects, initiated to reach this goal.

About UniCredit Tiriac Bank


UniCredit Tiriac Bank is part of UniCredit Group, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Tiriac Bank is a true "one-stop-shop" for financial services, currently serving 520 thousand active customers through its 234 branches. In Romania, the bank is providing a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

Argus Contracts RON 8.5-million Loan From UniCredit Tiriac Bank

28.09.2010

UniCredit Tiriac Bank has granted a RON 8.5-million loan to Argus, one of the leaders of the national oil manufacturers’ market, for the financing of its current activity.

"Argus is a representative player on the vegetal oil industry of Romania, both in terms of its market share, production capacities and technical endowment, the quality of its products being well-known. We shall continue to be close to our clients, in order to support them in both their daily activity and for a sustainable development of their businesses", Razvan Cristian, Regional Director of UniCredit Tiriac Bank stated.

"We want to consolidate our image of reliable business partner at the national and international level, well-known for our professionalism and quality in the manufacturing and sale of vegetal oils. In this sense, UniCredit Tiriac Bank turned out to be in its turn a valuable partner for us, especially considering the difficult market context", Vasile Leu, president of CA Argus stated.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the greatest baking group in Central and Eastern Europe and one of the biggest in Europe. UniCredit Tiriac Bank is a real ‘one-stop-shop’ of financial services of which 520,000 active clients benefit currently through its 234 branch offices. In Romania, the group provides a wide range of specialized products and services also through its partners.


About Argus

The Argus oil plant was founded in 1943 as S.A.R. Argus, with Romanian private capital, based in Constanta. In 1948 it was nationalized and its corporate name was changed into Intreprinderea Industriala de Stat Argus, subsequently Intreprinderea de Ulei Constanta. Argus SA Constanta was incorporated as a trading company in 1991, becoming a company with fully local private capital at the end of 1996, representing a success of the MEBO privatization method. Argus is listed on the Rasdaq capital market since 2002.

UniCredit: Decisions of Board of Directors

22.09.2010

The Board of Directors of UniCredit and Alessandro Profumo have, upon the guidance expressed by the Board, agreed that, after 15 years, the time is right for a change of leadership.

Therefore, Mr. Profumo offered his resignation as CEO of UniCredit, which was accepted by the Board of Directors. The Board thanked Mr. Profumo for the excellent results achieved.

In particular, the Board underscored that under Alessandro Profumo’s leadership the company has developed from a purely domestic player into one of Europe’s leading banking groups. The market capitalization has risen in this period from €1.5 Billion to approximately €37 Billion. Even during the global financial crisis,

UniCredit remained profitable in every quarter. With these achievements and with ongoing strategic projects like "One 4C" the way has been paved for a successful and sustainable future of the Group.

Until a new CEO is appointed, the Board has transferred temporarily the executive powers to Chairman Dieter Rampl, who supported by the Deputy CEOs, will lead the Group.

Furthermore, the Board has transferred Mr. Rampl the mandate to identify and propose Mr. Profumo’s successor within the coming weeks.

Mr. Profumo thanked the Board, shareholders and all the colleagues of the Group for their longstanding support during his tenure.

UniCredit Tiriac Bank and Asociatia Ateliere Fara Frontiere donated computers to 800 children and students in the country

09.09.2010

UniCredit Tiriac Bank in collaboration with Asociatia Ateliere Fara Frontiere organized the first edition of UniCredIT. Under this project, the bank donated 100 refurbished computers to 18 projects developed by associations and communities in the entire country. The 800 beneficiaries, most of them students, live in areas with no access to computers or Internet.

The association Ateliere Fara Frontiere refurbished the IT equipment and installed Microsoft community licensed software on the computers. 

Anca Nuta, Identity & Communication Director, UniCredit Tiriac Bank: “UniCredIT is a new project to involve us in the communities in which we function. It is even more special as our colleagues in the bank took part in it, identifying the projects aimed at helping the children and students in the country gain access to information using the computer."

Raluca Gheorlan, Executive Manager, Ateliere Fara Frontiere: “For us, the UniCredIT project put into practice one of the three missions of our organization: fight against wastefulness and pollution for a sustainable development. According to the Eurostat survey published in September 2009, 43% of the families in Romania in 2007 did not afford to buy a computer and over 72% of the computers were located in companies and institutions. We found that UniCredit Tiriac Bank is an extremely socially responsible partner who chose to support the disadvantaged areas in the country by offering the needed IT equipment. We consider this project an important step in our mission to lessen the disparities in what concerns the availability of IT equipment in the country.”


About UniCredit Tiriac Bank 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 520.000 active customers, through 234 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

About Ateliere Fara Frontiere Romania

In 2009, Asociatia Ateliere Fara Frontiere in collaboration with Samusocial Romania, with the support of the European Social Fund, opened a workshop for social and occupational integration and fight against social exclusion, offering a job to whose in need, as a starting point for employment and also offering customized support: advice, vocational counseling, training/qualification and facilitating employment on the labor market. The IT equipment intended for social projects is refurbished in the workshop, a useful job for the occupational integration employees.

UniCredit Tiriac Bank has a new Executive Vice-President in charge of Corporate Division, namely Mr Gianfranco Bisagni

31.08.2010

Gianfranco Bisagni (52 years) is the new Executive Vice-president for the Corporate Investment Banking & Private Banking (CIB&PB) Division and a member of the Management of UniCredit Tiriac Bank, after receiving the communication from the National Bank of Romania, for the appointment of this position.

He overtook the management of CIB&PB Division beginning April 2010.
 
Before joining UniCredit Tiriac Bank team, he was Chief Manager UniCredit Hong Kong Branch & Head of Corporate Banking Asia Pacific in UniCredit Group. His experience in UniCredit cumulates 32 years of banking activity, including top positions in UniCredit New York Branch and UniCredit Chicago Representative Office.

The following persons are also part of the management of UniCredit Tiriac Bank: Mr. Rasvan Radu, CEO / the Bank’s Executive Manager, Mr. Stanislav Georgiev, CFO / Executive Vice-president, Mr. Zoltan Major, Executive Vice-president, in charge of the Retail Division, Mrs. Daniela Bodirca, Executive Vice-president of the Risk Division, Mr. Septimiu Postelnicu, Executive Vice-president, responsible of Global Business Services (GBS) and Mrs. Alina Dragan, Executive Vice-president, responsible of HR Division.

UniCredit Tiriac Bank has a new Executive Vice-president, in charge of the Human Resources Division, namely Mrs Alina Dragan

26.08.2010

Starting from august, Mrs. Alina Dragan is the vice-president in charge of the Human Resources Division, and a member of the Management of UniCredit Tiriac Bank, after receiving the communication from the National Bank of Romania, for the appointment of this position. 

In this capacity, she will supervise the achievement of the human resources objectives of UniCredit Tiriac Group in Romania.

With an experience of eight years in this field, Alina Dragan is coordinating the Human Resources department of UniCredit Tiriac Bank for over a year, in the capacity of Executive Manager, after having previously occupied different managerial positions in this field of activity, as part of the bank's team.

Alina Dragan is a graduate of the Faculty of Psychology, in Bucharest, and is holder of a Master’s Degree in Cognitive-Behavioral Psychology, awarded by the same institution.

Furthermore, she is a member of the Romanian Psychologists' Association and of the National Association of Human Resources Specialists.

The following persons are also part of the management of UniCredit Tiriac Bank: Mr. Rasvan Radu, CEO / the Bank’s Executive Manager, Mr. Stanislav Georgiev, CFO / Executive Vice-president, Mr. Zoltan Major, Executive Vice-president, in charge of the Retail Division, Mrs. Daniela Bodirca, Executive Vice-president of the Risk Division and Mr. Septimiu Postelnicu, Executive Vice-president, responsible of Global Business Services (GBS).


About UniCredit Tiriac Bank 
UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 520.000 active customers, through 234 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

UniCredit Tiriac Bank Offers Discounts to Customers in Elmec Romania Stores

05.08.2010

All UniCredit Tiriac Bank’s indivuduals that use credit or debit cards have a 7% discount from their purchases made in Elmec Romania stores, one of the most important national retailers for sports articles and fashion.
The collaboration with Elmec is part of an extended discount program that the bank is undertaking with more than 200 partners in the country, program through which the customers receive discounts of up to 20% from the purchase value.

"For us is very important to offer our customers benefits that respond to their needs, and the discount program allows card users to save money. At the same time, they can enjoy the benefits of secure, easy to use, payment instruments and that do not imply any additional cost for paying at traders", said Bogdan Spuza, Marketing and Segment Manager with the Retail division of UniCredit Tiriac Bank.

UniCredit Tiriac Bank’s loyalty program is intended for debit and credit card owners and provides discounts of up to 20%, whether we talk about hotels, restaurants, travel agencies, car rental agencies or beauty parlors & spa. The complete list with partner stores can be accessed at www.programreduceri.ro.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the biggest banking group in Central an Eastern Europe. UniCredit Tiriac Bank is a true "one-stop-shop" offering financial services, with a number of 516,000 active clients, and 238 branches. In Romania, the group offers a wide range of specialized products and services with the help of its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Partner.

About Elmec Romania

Elmec Romania is one of the most important players on the local fashion and sports market and currently has 52 monobrand and multibrand stores of which 24 exclusive Nike stores, two Converse stores, fife multibrand stores – developed under the Famous Brands Gallery concept, a KIX multibrand footwear store, a Star Place multibrand store, nine monobrand fashion stores (Calvin Klein, Calvin Klein Jeans, Miss Sixty & Energie, Pepe Jeans London, Marlboro Classics), three Folli Follie stores, four outlets, as well as three monobrand fashion stores in the Republic of Moldova.

UniCredit Tiriac Bank reports RON 148mn Net Profit in 1H 2010

04.08.2010

August 4th  2010 - UniCredit Tiriac Bank reports RON 148mn (EUR 36mn) net profit under IFRS in 1H 2010, 18% lower compared to the same period of last year. Annualized ROE is 13% and ROA is 1.5%. Net profit under RAS for the same period is RON 31mn (EUR 7,5 mn).

The bank reports RON 657mn (EUR 158,4 mn), revenues in 1H 2010, up 10% year-on-year. Operating expenses are at the level of last year. Cost-to-Income ratio further improved to 43%. Solvency ratio is comfortable at 12.3% under RAS. The net operating profit is up 18% year-on-year, covering 1.9 times the net loan provisions for the period.

"The first 6 months of this year reconfirmed the trend of the first quarter of low market demand and growing risk costs. Nevertheless, our performance and overall financial situation remains solid. After state budget consolidation actions undertaken just recently we do not expect rebounding of the economy earlier than 2011.", said Rasvan Radu, CEO UniCredit Tiriac Bank.

The balance sheet total reached RON 20.5bn (EUR 4.7bn), up 5% compared to a year ago and at the level of 2009-end. Total outstanding on-balance-sheet loan portfolio increased 11% year-to-date to RON 13.4bn ( EUR 3.07 bn ), better than the system. Customer deposits reached RON 9.4bn (EUR 2,15 bn), 10% lower year-to-date. Credit risk went up, yet better than the system. Over 90-day defaults reached 10.9%. Loan provision coverage of the on-balance-sheet portfolio grew up to 6.1% under IFRS and 9.8% under RAS. 

The consolidated total assets of UniCredit Tiriac Bank, UniCredit Leasing Corporation and UniCredit Consumer Financing on a pro-forma lin-by-line consolidated basis were RON 23.5bn ( EUR 5,4 bn )  at the end of June 2010. The shareholders’ equity was RON 2.3bn ( EUR 554,5 bn ). The consolidated 1H 2010 net profit of the group was RON 137mn ( EUR 33 mn). 

UniCredit Group fulfilled its commitments under the Vienna agreement, maintaining its exposure to Romania at the benchmark level and continuing to actively support the Romanian economy. 


About UniCredit Tiriac Bank


UniCredit Tiriac Bank is part of UniCredit Group, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Tiriac Bank is a true "one-stop-shop" for financial services, currently serving 520 thousand active customers through its 234 branches. In Romania, the bank is providing a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

The voices of a new generation: Winners of Born in 89 essay competition to be named

22.07.2010

Vienna, 22 July 2010

Award ceremony and launch of publication on 6 September


UniCredit and the EBRD will announce the winners of its "Born in '89" essay competition at a discussion event and award ceremony on 6 September 2010, 18.00hrs, at the EBRD's Headquarters in the presence of the six successful contestants from Eastern Europe.

UniCredit together with the EBRD and the Financial Times, launched the competition last year as the world was commemorating the 20th anniversary of the Berlin Wall on 9 November 1989. The aim was to discover how the young generation in the CEE region had witnessed and coped with the political and social changes of the past 20 years and to directly hear their hopes and expectations as well as their concerns for the future.

To celebrate the achievements of the young writers from Eastern Europe UniCredit and the EBRD will also launch a special publication with the 24 best essays which have been selected by an international jury chaired by acclaimed Ukrainian novelist Andrei Kurkov.

Included in the publication are the essays of the six winners of the competition who will be announced on 6 September during a panel discussion with Mr Kurkov and representatives of project partners. First prize is a week's internship at the Financial Times' editorial headquarters in London. Further prizes are awarded by UniCredit. 

There was strong interest in the competition and some 600 essays from throughout the CEE region were submitted. The contributions reveal the aspirations and fears of a whole new generation that was born after the fall of the Iron Curtain two decades ago. The quality of much of the prose was extraordinary, full of insight and thoughtful observation.

Submissions for Writing for CEE possible until the end of July

16.07.2010

  • Award for excellence in journalism with 5,000 euro prize money
  • Contributions may be submitted until 31 July 2010
  • The emphasis is on contributions which focus on borders and prejudices within Europe in varied ways and help overcome them

Journalists from all over Europe are invited to submit their work for the prestigious "Writing for CEE" journalism prize by 31 July 2010. The prize is being awarded for the seventh time by Bank Austria, a member of UniCredit Group, and APA – Austria Press Agency. It is aimed at encouraging journalistic writing on issues related to Europe and European integration. The award goes to contributions that cover Europe, everyday life in European countries, European art, culture or lifestyle in distinct and varied ways and make a contribution to overcoming borders and prejudices.

Journalists still have time until the end of the month to submit articles that were published between 1 August 2009 and 31 July 2010. Transcripts of radio and television programmes as well as online articles are also eligible and welcome. The winner will be announced and presented at the end of 2010 during a gala event in Vienna and receive the prize money of 5,000 euros.

Requirements for submission are: the article in the original language, an English translation, the submission form and the author’s curriculum vitae. Detailed information and the submission form for "Writing for CEE" can be downloaded from the Internet at http://www.apa.at/cee-award.


About UniCredit Group

UniCredit Group is a major international financial institution with strong roots in 22 European countries as well as representative offices in 27 other markets, approximately 9,800 branches and more than 165,000 employees at 31 December 2009. 

UniCredit Group is market leader in Central and Eastern Europe, where it is one of the largest players in the banking market, with an extensive network of approximately 4,000 branches.
The Group operates in the following CEE countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

UniCredit named Best Sub-Custodian Bank in Central and Eastern Europe

09.07.2010

In its World’s Best Sub-Custodian Banks 2010 survey, Global Finance magazine awarded UniCredit Group for its achievements in Central and Eastern Europe. The US-based financial magazine selected UniCredit as Best Sub-Custodian Bank in Central and Eastern Europe. Furthermore, UniCredit scores number one in Austria and Croatia. 

The recent success with Global Finance is the latest of a series of top ratings attributed by the media to the Investors Service’s product line of UniCredit this year, with number one positions achieved in the surveys of Global Custodian and Global Investor earlier this year. “We have made it to the top in each possible custody survey this year, underpinning UniCredit Group’s leading role as a reliable expert for post-trade procedures", commented Attila Szalay-Berzeviczy, Global Head of UniCredit Group’s Global Securities Services. 

UniCredit Group’s Global Securities Services operates in 14 Central and Eastern European countries (including Austria) via UniCredit’s own banking network. It is the biggest provider of securities safekeeping services in the region, for assets under management, for market share as well as for the size of its regional network. 

The Group has been active in this business since beginning of the 1990’s, always having played a pioneer role in the development of the securities markets of the region. The team consists of 230 industry experts across Central and Eastern Europe.


About UniCredit


UniCredit's Corporate & Investment Banking gives companies, from small and medium Corporates to multinationals and institutional clients, access to the largest network of banks in Central and Eastern Europe, as well as to branches in major financial centers worldwide. The successful collaboration between our network’s relationship managers and specialists in our product lines (Financing & Advisory, Markets, Leasing, Global Transaction Banking) enables UniCredit to respond promptly to our clients’ entrepreneurial requirements. Thus, UniCredit supports the growth and internationalization of the Group’s corporate and institutional clients, creating sustainable value for all stakeholders.

Global Transaction Banking of UniCredit combines the local expertise of more than 2,000 professionals with the experience of a sophisticated global transaction bank, offering a diverse and proven set of core competencies in the fields of Cash Management and eBanking, Trade Finance, Supply Chain Management, Structured Trade and Export Finance and Global Securities Services. UniCredit Group is the largest transaction bank in the heart of Europe. Many international awards demonstrate this. Thanks to an international network comprising more than 10,200 branches in 22 countries plus 4,000 correspondent banks in 50 countries around the globe, UniCredit Group serves more than 400,000 corporate customers worldwide.

UniCredit Tiriac Bank was the sponsor of the Finance section of the Young Journalist of the Year awards for a seventh time in a row

08.07.2010

On Thursday, July 1st 2010, within a ceremony taking place at the Romanian Cultural Institute, UniCredit Tiriac Bank awarded the winner of the 12th edition of the "Young Journalist of the Year" contest, organized by Freedom House Romania and Edipresse AS Romania.

For each of the six sections in the contest (Culture / IT&C and Technology / Internal Latest Issues / Finance / Foreign Policy and European Affairs / Environment), the grand jury selected three nominees for each category (except for the Internal Latest Issues, where four nominations were made), of which the RON 4,000 Grand Prize Winner was subsequently selected.

At the Finance section, supported by UniCredit Tiriac Bank, the winner was Florin Rusu from Saptamana Financiara (The Financial Week).

Journalists were appointed winners of the "Young Journalist of the Year - 2009" contest after a jury process that looked at the journalistic technique, the writing, the analysis capacity. Both the documentation accuracy, as well as the capacity of identifying subjects of public interest, were also important criteria in selecting the nominees and, subsequently, the winners.

Pension Package from UniCredit Tiriac Bank Provides Profitable Interest on Account Amounts

06.07.2010

UniCredit Tiriac Bank released the Pension Package, a product through which customers benefit of a 3% interest per year for the account amounts. In addition, the bank does not charge any commissions for card usage, so that money withdrawals from UniCredit Group ITM-s are free, the same being valid for using the card to pay invoices or shopping.

The Pension Package from UniCredit Tiriac Bank includes the following:

- current account
- debit card, with no annual administration charge
- free of charge withdrawals from UniCredit Group ITM-s
- free of charge card transactions for paying invoices or shopping 
- online b@nking
- direct debit
- telephone service

Another important benefit is the time saved, considering that utility invoices payment can be made both by Direct Debit service, and by telephone, with the help of “Telephone Service”, online using “Online B@nking” or using the ATM. 

"Telephone Service" enables the customers to check by a simple phone call any information related to personal accounts or to perform various transactions.

UniCredit Tiriac Bank also provides benefits for opening and managing savings accounts and deposits, the corresponding costs being included in the package for the existing customers.

The annual cost of the package is 12 RON and there are no additional charges for activating or managing the products included in the package.


About UniCredit Tiriac Bank 
UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 516.000 active customers, through 238 branches.

We are a performant company who appreciate performant employees. We offer a wide range of products and specialized services through our network and our partners, which means that we offer multiple posibilities to our employees to develop within UniCredit team.  

In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

UniCredit Tiriac Bank - ACCA approved employer

30.06.2010

UniCredit Tiriac Bank was granted the ACCA Approved Employer title by the Association of Chartered Certified Accountants (ACCA), the world's most famous professional association in the financial-accounting domain. This certification offers international recognition for the training and development standards UniCredit Tiriac Bank provides to its employees in Romania. The bank is part of a small number of employers in the financial-banking domain in Romania that enjoy the ACCA official recognition at this level of good professional practices in the training and professional development field.

Following the ACCA assessment, UniCredit Tiriac Bank was granted the "Trainee Development Stream Gold" and "Professional Development Stream" certificates. The "Trainee Development Stream Gold" certification recognizes the good practices in the provision of learning opportunities and support provided to the ACCA students employed by the bank that want to obtain a ACCA certification. The second certification obtained, "Professional Development Stream" is recognition of the fact that the bank provides to the ACCA members of its team a sustained effort for their continuing professional development. Among the most important benefits that the certification confers to the bank’s employees - students and ACCA members - there is the reduction of the documentation necessary to attend the courses, an internal mentorship program dedicated to them and flexibility with regard to the training period for the 14 mandatory exams necessary to obtain the ACCA diploma.

"The ACCA Approved Employer certification is an official recognition of the concrete support we provide to our colleagues that want to improve their skills and reach the highest professional qualification standards in the financial-accounting domain. We are an efficient company that values efficient employees.", Alina Dragan, Executive Human Resources Manager of UniCredit Tiriac Bank stated.

Andreia Manea, ACCA Manager for South-Eastern Europe stated: "ACCA’s purpose is to offer first-degree qualifications to dedicated people that want a successful career in the financial-accounting domain as well as in management. We want to offer our members the necessary knowledge and training in order to become leaders or major companies in any business sector. At the same time, we want them to be endowed with the necessary qualities in order to give value to the companies they are working for. For this purpose, very important is the role of our partners, the ACCA approved employers whose practices for the training and evaluation of their employees creates excellent learning and professional development conditions."

"We are delighted to have among these partners companies such as UniCredit Tiriac Bank, the banking domain being one of the ones in which, in ACCA’s opinion, the existence of employees that have the technical, communication, management, risk management and ethics techniques is essential."

"We are glad that we obtained this certification, which represents a benefit for both our colleagues interested in the ACCA qualification and the bank. We are planning to recruit and keep the best professionals in the financial domain and we shall continue to invest in people in order to have sustainable results on a long term", Stanislav Georgiev, Chief Financial Officer (CFO) of UniCredit Tiriac Bank concluded.


# # #

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the biggest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" of banking services that currently serves 516,000 active clients through 238 branch offices. UniCredit Tiriac Bank S.A., a two-tier company with registered office in Romania, Bucharest, 23-25, Gheţarilor Street, District 1, registered with the Trade Registry under no. J40/7706/1991, with the banking Registry under no. RB-PJR-40- 011/ 18.02.1999 and with ANSPDCP with notification no. 10964, tax code 361536, fiscal attribute RO, shared and paid-in capital RON 379,075,291.20.

About ACCA
ACCA (The Association of Chartered Certified Accountants) is the global body for accounting professionals. Our purpose is to grant first-degree qualifications to dedicated, capable and ambitious people all over the world that want a career full of satisfactions in accounting, finances and management.

We support our 140,000 members and 404,000 students of 170 countries, helping them develop successful careers in accounting and business domains, offering them competences required by employers. Our network counts over 80 offices and centers and over 8,000 Approved Employers all over the world that provide to their employees high learning and development standards.

By our public-interest mission we promote an adequate legislation for the accounting domain and we conduct relevant researches in order to make sure that the accounting domain continues to growth with regard to its reputation and influence.

UniCredit Leasing Has a New CEO, Antoaneta Curteanu

28.06.2010

Starting the 1st of July 2010, Antoaneta Curteanu, Deputy Manager of the Corporate Division of UniCredit Tiriac Bank, will take over the position of Chief Executive Officer (CEO) of UniCredit Leasing.

"I considered that the experience I could gain in leasing is the best choice right now. Taking over the new responsibilities within UniCredit Group comes as a natural complementation to my professional experience, increased cooperation between the bank and leasing being an important objective of the group" said Antoaneta Curteanu.

Andreas Obrist, who has managed UniCredit Leasing until present, has been promoted within UniCredit Group, to a regional coordination position.

"The purpose of Antoaneta Curteanu's transfer from an executive position within the bank to UniCredit Leasing is to apply certain strategies for increasing synergies and cross sales. This appointment comes as a natural complementation to a remarkable career, most of it within UniCredit Group", stated Rasvan Radu, CEO of UniCredit Tiriac Bank.

Antoaneta Curteanu has been working for UniCredit since 1998, and before that, between 1991 and 1998, she worked within "Ion Tiriac" Commercial Bank.

Since June 2007 until present, she has been the Deputy Head of the Corporate Division, and Manager of Global Transaction Banking (GTB); before that (May 2005 - June 2007), she was Executive Vice-President responsible for the Corporate activity and member of the Board of Directors of UniCredit Romania, as well as Deputy General Manager responsible for the coordination of the Risk Management activity, between October 2004 - May 2005.

Antoaneta Curteanu is a founding member of the "Business Women Network" association in Romania and author of "Factoringul in comertul international" (Factoring in International Trade).


About UniCredit Tiriac Bank 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

UniCredit Consumer Financing launched a loan for students enrolled in the MBA programme of Maastricht School of Management

24.06.2010

UniCredit Consumer Financing, through UniCredit Tiriac Bank, offers a personal needs loan for MBA, to Maastricht School of Management students. The loan is granted with a preferential interest rate, 2.5 percentage points lower than the standard applied to Loans without mortgage, and the client benefits from a dedicated officer.

Students from Maastricht School of Management have the possibility to cover entirely the cost of an MBA programme the amount granted being of maximum 20,000 EUR or the equivalent in lei, on a period of maximum 10 years.

More than that, they benefit from advantageous terms applied also for the General Type of Loan, that is 0% fee fro analysis, administration and early reimbursement. The product is available both with a fixed interest rest and with a variable interest rate.

UniCredit Consumer Financing is member of UniCredit Group sspecialized in loans for natural persons, present on the Romanian market since 2008.


About Maastricht School of Management

The Maastricht School of Management has its roots in the Institute for Management Science at the Technical University in Delft, dating back to 1952. In 1989, the school moved to the historical city of Maastricht, and in 1993 was renamed Maastricht School of Management.

MSM is one of the important education institutes in the world, combining education,  technical assistance and research. With over 2,000 graduates from 25 countries per year, MSM is one of the most important business schools in the Netherlands.

UniCredit Tiriac Bank and METRO Cash & Carry Romania launch, at national level, the first co-branded credit card for legal persons

22.06.2010

  • Credit line equivalent to a maximum of 35,000 Euro and a 50-days grace period 
  • Sales programme in METRO and in the partners network
  • Unique Insurance system on the Romanian credit cards market for the goods purchased from METRO Cash & Carry Romania
  • The product has been tested, through a pilot programme, by more than 1,000 clients from Iasi and Craiova

Bucharest, June 22nd, 2010 - METRO Cash & Carry Romania and UniCredit Tiriac Bank announce the launching, at national level, of the first Romanian co - branded credit card fro legal persons, the clients of METRO and UniCredit Tiriac Bank. 

"The co-branded METRO - UniCredit Tiriac Bank credit card ia an instrument through which we support our SME clients in this difficult economic period, by introducing on the Romanian market the first product of this type for companie"
, said Zoltan Major, Vice-president of UniCredit Tiriac Bank responsible for the Retail Division. "The pilot programme started in Iasi and Craiova, and in the near future all companies in the country will enjoy both the financial benefits offered by the bank and the special offers from Metro, while using the same product".

"The main challenge our clients face is the flow of capital, and this new product we are launching together with our partner UniCredit Tiriac Bank is meant to bring a real support both by means of credit line, and by the promotional offers of the programme " says Claude Sarrailh, Customer Management Director,  METRO Cash & Carry Romania. "Thus, we can supplement our support initiatives for professional clients with a direct financial support project, which is now available in the whole Metrou network in the country”, added Claude Sarrailh.

With the METRO - UniCredit Tiriac Bank credit card issued under the VISA logo, customers can have the necessary funds at any time, thus taking advantage of opportunities that may arise unexpectedly. In addition, card holders receive discounts in Metro Cash & Carry Romania shops and UniCredit Tiriac Bank partners, having the full control over the amounts spent.

The maximum loan amount is the equivalent in RON of EUR 35,000, but not more than 30% of the average monthly turnover of the company, calculated on the basis of the last balance sheet for an entire financial year.

The Credit Card is valid for 36 months and at expiration date it can be extended, depending on the fulfilment of eligibility conditions announced by the bank. The minimum amount to be refunded is 10% of the amount owed to the bank at the end of each trading cycle.

Thus, they benefit from a useful tool in their day-to-day business, be it traditional or HoReCa trade, by allocating an additional capital stock and access a range of promotional offers for both METRO products, as well as for products of our partners.

"We are proud that we can launch on the market the first co-branded credit card for companies. We had a very good cooperation with UniCredit Tiriac Bank and Metro Cash & Carry Romania while developing and testing this product, which addresses a segment which is strongly affected by the crisis. The METRO - UniCredit Tiriac Bank credit card is a tool for retail and HoReCa small businesses, through which they can access a credit that ensures their liquidity, an essential need for covering regular expenses. In addition, customers can enjoy additional benefits in the Metro chain store and, most importantly, by using it for purchasing several products and services necessary for business operation, they can better monitor and manage their monthly expenses ", said Catalin Cretu, General Manager for Romania at Visa Europe.

Financial advantages of this new type of credit card, offered to METRO Cash & Carry Romania clients are the following:

- Up to 50-days grace period, depending on the date the transaction is made, during which the client does not pay any interest rate for the transactions made;
- 3% lower interest rate that the standard one used for transactions made in METRO stores;
- If the clients pays entirely the amounts used, before the due date, he can benefit from a zero interest rate for all transactions made;
- Zero commission for payments made in Romania;
- National and international validity.

Among the facilities offered by the co-branded card are the following: the possibility of paying the bills at UniCredit Tiriac Bank ATMs, changing the PIN directly at UniCredit Tiriac Bank ATMs, checking the balance and the list with the latest 10 transactions at UniCredit Tiriac Bank ATMs, free access to the 3D Secure service for secure online transactions, the possibility  to issue an unlimited number of additional cards, automatic refund of the amounts used in the line of credit from a bank account opened at UniCredit Tiriac Bank and online access to information related to the card account through Online B@nking.

By using this card, customers have access to programs developed especially for them:

Discount program of METRO Cash & Carry Romania and UniCredit Tiriac Bank partners

By paying with this card in the network of METRO partners, the client benefits from significant reductions in costs for products and services offered. The List of Partners can be found at www.programreduceri.ro, in METRO Cash & Carry Romania shops and at the partners involved in this programme.

Free insurance program - for goods purchased in the METRO Cash & Carry Romania network and paid with this card, the METRO customer benefits from free insurance - during transportation and two weeks after purchase - for accidents and burglary.

Full details on this card and programme partners can be obtained directly from the METRO Cash & Carry Romania experts or at UniCredit Tiriac Bank branches.


About METRO Cash & Carry Romania

METRO Cash & Carry Romania is a member of METRO Cash & Carry International.

METRO Cash & Carry was launched officially in Romania in October 1996, when the first distribution centre was opened in Bucharest. Today, the network includes 25 distribution centres: 5 in Bucharest, 2 centres in Brasov, Constanta and Timisoara and one centre in each of the following cities: Cluj, Bacau, Iasi, Craiova, Baia Mare, Galati, Ploiesti, Oradea, Sibiu, Suceava, Pitesti, Tg. Mures, Arad and Deva.  More information can be found at www.METRO.ro

At the same time, starting 29 April 2010, METRO Romania launched a new store concept, METRO Punct, dedicated to trader customers. More information can be found at www.metropunct.ro.


About UniCredit Tiriac Bank


UniCredit Tiriac Bank is part of the UniCredit Group network, the biggest banking group in Central an Eastern Europe. UniCredit Tiriac Bank is a true "one-stop-shop" offering financial services, with a number of 516,000 active clients, and 238 branches. In Romania, the group offers a wide range of specialized products and services with the help of its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Financing (UCFin) and UniCredit Business Partner.


About Visa Europe 


In Europe, there are over 390 million Visa debit, credit and commercial cards. In the 12 months ending December 2009 those cards were used to make purchases and cash withdrawals to the value of 1.4 trillion Euro. 11.2% of consumer spending at point of sale in Europe is with a Visa card.

Visa Europe is owned and operated by more than 4,000 European member banks and was incorporated in July 2004. In October 2007, Visa Europe became independent of the new global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe. 

As a dedicated European payment system it is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission’s objective to create a true internal market for payments.

Visa enjoys unsurpassed acceptance around the world. In addition, Visa/PLUS is one of the world’s largest global ATM networks, offering cash access in local currency in over 200 countries. For more information, visit www.visaeurope.com

UniCredit Tiriac Bank Awarded for Efficiency

14.06.2010

In any economic context, efficiency is a prerequisite for success. Advertising campaigns have already gained a well-deserved place in the top of efficiency-achievement methods, which is the case of the ‘Loan for Anything’ campaign that got UniCredit Tiriac Bank an Effie Award. 

On June 10, at the 7th edition of the Effie Gala that took place at the Romanian Opera of Bucharest, UniCredit Tiriac Bank and its creation agency, Headvertising, were granted the Bronze Effie Award for the promotion campaign of the Loan for Anything, in the Financial Services Category.

The campaign carried out by UniCredit Consumer Financing and UniCredit Tiriac Bank in the interval 1st of July–September 15th, 2009 in one of the most difficult moments for marketing communication, especially in the financial-banking area, significantly increased the bank’s number of consumer credits, marking at the same time the constant crediting activity of UniCredit. 

The Effie Awards gathered in 2010 too the most famous advertising agencies in Romania as well as their clients. The event is carried out under the aegis of IAA Romania (International Advertising Association) and UAPR (Union of Advertising Agencies of Romania), Effie Awards being an international festival under the license of AMA New York.  

The granting of the awards in this competition is based on the criterion of efficiency of advertising campaigns. In case of the ‘Loan for Anything’ promotion, one of the indicators taken into account was the bank’s market share in the consumer credit segment that after the campaign went up considerably as compared to the previous period.

3 years after the bank's establishment, UniCredit Tiriac Bank inaugurates together with MaiMultVerde Association two new Cicloteque bicycle rental centers in Bucharest

11.06.2010

UniCredit Tiriac Bank and MaiMultVerde opened two new Cicloteque bicycle rental centers in Tineretului and Herastrau Parks. The Cicloteque network now has three centers and 300 de bicycles. Cicloteque is a project of MaiMultVerde Association and UniCredit Tiriac Bank, fulfilled with the support of Bucharest City Hall Hall, Lakes, Parks and Leisure Administration and Bucharest University. 

Sorin Oprescu, the Capital’s General Mayor, Dragos Bucurenci, the president of MaiMultVerde Association and Anca Nuta, Identity & Communication Director UniCredit Tiriac Bank, participated at the inauguration of the two new centers. 


During the event, Sorin Oprescu, the Capital’s General Mayor received the number 1 member card, in order to benefit from Cicloteque services. After the official opening of the center in the Tineretului Park, over 300 bicycle riders and the famous guests left on bicycles to Herastrau Park, where the second new Cicloteque center was inaugurated. 

The bicyclists rode along the following route: Tineretului Park-Unirii Square-University-Romana Square-Victoriei Square-Charles de Gaulle-Herastrau Park. The 8 km route was crossed in less than half an hour by bike, while by car it is normally passed in one our at the least, if the traffic is heavy. Groups of volunteers from MaiMultVerde, located in the most important points along the route, informed the participants of the traveled distance, the time from the departure and the time to the finishing line and the quantity of CO2 which was reduced through the use of the bicycle.

The volunteers also drew the attention to the cultural and historic objectives met by the bicyclists on their route. Thus, in front of the National Theater, the volunteers wore costumes representing characters from various plays, at the Academy of Economic Studies, a group of graduates saluted the riders and in Victoriei Square, some dinosaur models and the volunteers dressed in traditional costumes invited the people to visit the National Museum of Natural History “Grigore Antipa” and the Romanian Peasant Museum.

“If, two years go, we were the first to offer rental bicycles to the Bucharest residents, today we are the first to offer them a system similar to the one in Vienna and Paris, in which they can take the bicycle from one place and leave it in another”, stated Dragos Bucurenci, President of MaiMultVerde Association.

“In 2008, we inaugurated together with MaiMultVerde the first bicycle rental center in Bucharest because we were convinced that we had to take action and offer real environmental protection solutions”, says Anca Nuta, Identity & Communication Director, UniCredit Tiriac Bank. “The continually increasing number of Bucharest residents who have chosen the bicycle as alternative transport means, as a recreational method or even a lifestyle determined us to open two new centers. At the 3-year anniversary of UniCredit Tiriac Bank we thus offer 3 Cicloteque centers and 300 bikes.”

“The two Cicloteque centers opened in Tineretului and Herastrau Park will facilitate the resident’s access to mobility, taking into account that the routes between them unify the capital’s north and south points. The Lakes, Parks and Leisure Administration (ALPAB) supports the projects which encourage citizens to use alternative transport means, to do sports activities in the park, and thus to adopt a healthy lifestyle” declared Radu Popa, ALPAB General Manager.

By opening the two new centers, Cicloteque becomes a bike rental network, so that the bikes can be rented from one center and returned to another one. The bicycle rental and reservation can also be made online, through the new user registration system on www.cicloteque.ro, and the user will receive a member card from the center. The fees are very friendly: RON 2/hour, RON 10/day or RON 20/two days. For students, retired and unemployed, the fees are reduced to half. 


About Cicloteque


The first Cicloteque bicycle rental center in Bucharest was opened in August 2008, at the Bucharest Law School. During the two years of operation, the center has had over 10,000 users and offered to velo park lovers 150 bikes, the accessories necessary for the use of such (anti-theft, protection helmet, gloves, knee pads, etc.) and bicycle racks. The continually increasing number of users, as well as the necessity to facilitate the rental and return of bicycles, led to the opening of two new centers in Tineretului Park, Sincai entrance, and Herastrau Park, Aviatorilor Bd., and the number of bicycles increased to 300.

Through the Cicloteque network, MaiMultVerde and UniCredit Tiriac Bank propose a direct alternative transport solution to reduce the emissions produced by the road traffic. For every 10 km traveled, a bike reduces the carbon dioxide which would have been produced by a vehicle over the same distance by 1,500 grams. The use of the bike as an alternative transport means for traveling in the city is already a measure adopted by many European capitals, and Bucharest has recently taken the same road.

The Cicloteque centers have been opened with the support of Bucharest City Hall, Lakes, Parks and Leisure Administration and Bucharest University. All the information about the center is available on www.cicloteque.ro.

UniCredit Tiriac Bank launches the first bank guarantee destined for the agents carrying out activities related to road traffic

09.06.2010

UniCredit Tiriac Bank launched a unique product on the Romanian market, a bank guarantee for the acquirement of a license for activities related to road traffic - activities for the intermediation of public road transportation activities, if the company's share capital or the total assets of the association or nonprofit organization / the net value of the institution's or the public authority’s corporal assets is less than EURO 50,000.

In March, this year, as consequence of the legislative modifications related to the road transportation activities and other activities as such, the Ministry of Transport and the Romanian Road Authority required the support of the commercial banks in order to draft a non-standard product such as the payment guarantee.

“The customers eligible for becoming authorizing officers within the bank letter of guarantee may be, from legal point of view, companies with a capital less than or equal to EURO 50,000, certified natural persons or individual/family enterprises, associations or nonprofit organizations with the share capital less than or equal to EURO 50,000, as well as institutions / public authorities with a net value of corporal assets less than or equal to EURO 50,000", explained Antoaneta Curteanu, Corporate Executive Manager of UniCredit Tiriac Bank.

The granted amount is less than or equal to EURO 50,000, in compliance with the legal provisions. The guarantee amount is set by the Romanian Road Authority and is communicated to the bank by an authorizing officer, through the request for issuance of the bank letter of guarantee. 

This product derives from the requirements Norms on the organization and performance of road transportation and activities related to these, approved by Order of the Ministry of Transportation, Construction and Tourism no.1892/2006, with subsequent modifications and completions, according to which, in order to obtain a license for activities related to road transportation - public road transportation intermediation activities, among other documents, the applicant must submit a bank letter of guarantee in order to ensure the appropriate performance of payment. 

The bank letter of guarantee is a written commitment assumed by a bank (warranting bank), in favor of one or more persons (the beneficiary/beneficiaries), for the payment of an amount of money, if another person (the guarantee authorizer), from whose order the guarantee is issued, did not comply with a given obligation assumed according to the contract, or if the said obligation was erroneously complied with for the guarantee beneficiary/beneficiaries. Through the bank guarantee, the bank takes over a payment obligation, in compensation for the noncompliance or faulty compliance of a commitment assumed through the contract. 


About UniCredit Tiriac Bank 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

The new product packages for UniCredit Tiriac Bank corporate customers cost up to 50% less than standard products

31.05.2010

UniCredit Tiriac Bank launched four packages aimed towards corporate customers (to companies with a turnover above Euro 3 million), which integrate all the products necessary for managing current operations.

An important advantage of using the packages is the much smaller (subscription-type) unique price in comparison to the price of the products acquired separately: discounts over 40% from the price of the products included in the package and discounts up to 50% of the price of additional products.

Time-saving is another benefit: the customer no longer has to go to the bank to perform the current operations, as the BusinessNetapplication is available, and the cards allow cash operations though UniCredit Tiriac Bank ATMs, as well as through Non-stop Banking Terminals.

In addition, the customer permanently holds the control of its transactions: through the BusinessNet internet banking application, it can check the status of its accounts and debit instruments at any time.

“We continue to make innovations, from our desire to continue to be in the future the banking partners preferred by the entrepreneurs in Romania. We continually try to be as close as possible to our customers, offering them quality products and services, adjusted to the current environment, which should bring them real advantages by saving money, time and effort”, stated Antoaneta Curteanu, Corporate Executive Manager within UniCredit Tiriac Bank.

Depending on the selected version, these packages include basic products and services, starting from the current account management and the use of online applications, up to payments in Lei, debit instrument operations and the real-time monitoring of such, as well as business cards. Also, apart from the use of standard packages, the customer can choose certain additional services at competitive prices.


About UniCredit Tiriac Bank 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

First winner in the Madrid Final already set: UniCredit

21.05.2010

Milan / Madrid, 21 May 2010. This year’s match in the UEFA Champions League Final,  this Saturday in the Spanish capital, comes as a stroke of luck for UniCredit Group. Both finalists - FC Bayern München and FC Internazionale Milan - come from countries that are core domestic markets for the European group, with Germany being the second largest market behind Italy. Moreover, the two teams have a special relationship with the sponsor - FC Internazionale is a football symbol of Milan, the city where the headquarters of UniCredit Group are based, while FC Bayern München has long been sponsored by HypoVereinsbank (the German subsidiary of UniCredit Group). 

This combination of events crowns an overall highly successful first season as sponsor of the UEFAChampions League. For CEO Alessandro Profumo, one thing is clear: "The first winner of the Final Madrid 2010 is UniCredit."

For UniCredit, one of the main objectives behind its 2009-2012 sponsorship of the UEFA Champions League, the most important club competition in the world, is to increase brand awareness and consideration of the master brand in all 22 markets and to support local re-branding projects. 

At the end of the first season, thanks to the active adoption of communication and activation measures and the committment of the Group’s employees, the success of this sponsorship is already becoming visible. Sponsorship awareness is growing quickly."What is very interesting is that in most countries the purchase intentions and likeability of our brand amongst those who are aware of the sponsorship is double what it is amongst those who are not aware that UniCredit is a sponsor of the UEFA Champions League."says Alessandro Profumo. 

The sponsorship is also proving to be a uniting factor within the Group, strengthening the sense of people who belong to UniCredit. The sponsorship is a real benefit for employees and has also boosted the development of group-wide chains and processes.

One of UniCredit’s most important activation initiatives was the UEFA Champions League Trophy Tour presented by UniCredit, which carried the Trophy through five countries between September and October 2009, with stops in Milan, Zagreb, Budapest, Bucharest and Sofia. The Trophy Tour presented by UniCredit achieved a record number of over 90.000 visitors during the five-countries tour. The Trophy Tour will resume after the summer break with the following stops: Munich (15-19 Sept.), Prague (24-26 Sept.), Warsaw (1-3 Oct.),Bratislava (8-10 Oct.) and Vienna (14-17 Oct.).

Luis Figo as Brand Ambassador 

In order to exploit the full impact of the sponsorship, the Group has now appointed Luis Figo, one of Europe’s most successful football players of the last 15 years, a brand ambassador for all UEFA Champions League’s sponsorship related activities, with the aim of supporting the bank over the next two years as an expert on all matters to do with football. “In Luís Figo, we have acquired an internationally acknowledged personality, whose career can probably be described as unique and perfectly fitting our brand,” says Alessandro Profumo.

As a former player at renowned clubs such as Sporting Clube de Portugal, FC Barcelona, Real Madrid CF and most recently FC Internazionale, European Best Player in 2000 (France Football Ballon d’Or) and UEFA Champions League Winner in 2002, to name just some of his awards, he brings a wealth of experience and huge fan potential with him, which he would like to call upon for the company. Whether it be on the Trophy Tour, in supporting UniCredit UEFA Champions League related promotional activities, as a guest at internal events or as a football expert for UniCredit guests at special matches. 

Alessandro Profumo and Luís Figo will attend tomorrow a press event in Madrid to celebrate the first year of sponsorship by UniCredit of the UEFA Champions League and to present the next initiatives. 


About UniCredit Group 

UniCredit Group is a major international financial institution with strong roots in 22 European countries and an overall international network present in approximately 50 markets, with 9,600 branches, and more than 162,000 employees as of 31 March 2010.

In the CEE region, UniCredit Group operates the largest international banking network with around 4,000 branches. The Group operates in the following countries: Austria Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Germany, Hungary,  Italy, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.UniCredit is one of the six exclusive Official Sponsors of the UEFA Champions League for the current and next two seasons.

About UniCredit Tiriac Bank 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

UniCredit Tiriac Bank and ERGO Asigurari de Viata are starting joint bancassurance operations

17.05.2010

Bucharest, May 17th 2010, UniCredit Tiriac Bank and ERGO Asigurari de Viata have started selling life insurance policies trough the bank’s branches. Part of a larger european global collaboration between UniCredit and ERGO, the bancassurence activities in Romania will complete the financial products of UniCredit and will mark the launch of ERGO Asigurari de Viata on the Romanian market.

"I trust this partnership will be a successful one and that main beneficiaries - our clients - will properly perceive the given benefit, the decisive strongpoint in this step being our sales strength" , said Zoltan Major, UniCredit Tiriac Bank’s Vice-president of Retail Division.

"ERGO Asigurari de Viata, is the first company from the ERGO Insurance Group that begins its activity in Romania.In spite of the fact Romania crosses a difficult economical period , ERGO has a long term commitment, keeping in mind the attractive potential of the Romanian insurance market", said Ina Cretoiu, CEO of ERGO Asigurari de Viata S.A.

For starters, UniCredit Tiriac Bank’s branches will offer the clients; unit linked ERGO LifeInvest type products - financial products that supplement the traditional bank offer.

UniCredit Tiriac Bank and ERGO Asigurari de Viata are looking to extend the joint product offer.

The Bancassurance activity is based on the partnership started in 2007 between the UniCredit Groups and ERGO. It is brought in Romania as a result of the success proven on the German, Austrian and the common desire to develop the collaboration on Central and Eastern European markets. Starting autumn 2008, the two companies also collaborate on the Slovenian market, followed in January 2009 by the Hungarian and Slovakian markets, having support from ERGO Austria International AG.

For UniCredit and ERGO, Romania represents an important country in the international development strategy, because of the economical growth potential and the increase in the population’s standard of living, which lead to an increase in demand for life insurance products. 


About UniCredit Group

UniCredit Group is a major international financial institution with strong roots in 22 European countries as well as representative offices in 27 other markets, approximately 9,800 branches and more than 165,000 employees at 31 December 2009. 

UniCredit Group is market leader in Central and Eastern Europe, where it is one of the largest players in the banking market, with an extensive network of approximately 4,000 branches. The Group operates in the following CEE countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

About UniCredit Tiriac Bank 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

About ERGO Group

With a € 19 billion insurance premium cumulated value in 2009, ERGO is one of the most important insurance groups in Europe. Currently, ERGO is present in more than 30 countries worldwide, focusing mainly on Europe and Asia. In Europe, ERGO is the first company dealing with health insurance and legal fees, and on the original market, Germany, ERGO Group is one of the market leaders. More than 50,000 people are working for ERGO, either as employees or sales agents.

ERGO provides a wide range of insurance products and investment products, always striding to be the customer's first choice when it comes to insurance and accumulation. Over 40 million customers trust the services, expertise and safety provided by ERGO Group and the affiliated companies. In Germany, 20 million customers trust strong brands of ERGO Group, such as D.A.S., DKV, Hamburg-Mannheimer, KarstadtQuelle or Victoria.  

ERGO is a member of Munich RE Group, one of the biggest world reinsurers. Under the Munich RE umbrella, primary insurance or reinsurance transform the risk in value for the customers. The investments made by Munich RE amounting to more than Euro 175 billion - of which 108 billion on behalf of ERGO - are performed by the experienced MEAG, an investment fund and asset management company. Munich RE holds 99.69% of ERGO Group. ERGO Asigurari de Viata SA  is entirely held by ERGO Group.

CEE banking - the way out of the crisis

14.05.2010

Vienna, 14 May 2010

UniCredit Group´s CEE Analysis:

CEE banking - the way out of the crisis

- Lending stagnation due to lack of demand 
- Banking sector remaining resilient through the crisis 
- Countries should focus on full deployment of EU funds, to extract the maximum in terms of growth stimulus
- UniCredit well positioned and on the frontline to re-start

In the aftermath of the global crisis the economic environment in Central and Eastern Europe (CEE) is now slowly showing signs of recovery. However the growth outlook varies significantly, with some countries recovering faster and some others being more vulnerable to the ongoing market turbulences, but all clearly remaining below their long term potential. “The crisis had an impact on the banking system as well, though it remained resilient and profitable in CEE, continuing to show significant growth prospects”, so Federico Ghizzoni, Head of CEE Banking Operations, UniCredit Group.

Although banking in CEE still holds opportunities, a number of market conditions differ after the crisis. “We expect the potential in terms of banking penetration to stay, with the loans and deposit growth becoming more balanced”, so Debora Revoltella, Head of CEE Strategic Analysis of UniCredit Group, referring to the Group’s latest forecast on the banking sector. In the context of a lower economic growth, the volumes growth will remain below the pre-crisis levels, but nevertheless still stay much above the more mature markets.

The driver of the current recovery is the corporate business, emerging first from the crisis and being the engine of future growth. In the context of high unemployment and low consumption the retail sector will only slowly develop its potential. However, the economic convergence process between CEE and Western Europe is still ongoing, though at a lower pace and with a more rebalanced economic model. “The banking sector remains one of the drivers of economic convergence. At the current stage, however, we need to see recovery from the demand side before we really see an acceleration in lending”, so Revoltella. “The positive news is that we are now close to the peak in terms of credit quality problems. We already see some stabilisation in non-performing- loans and we believe the trend will clearly revert starting later this year”.

The future development in the CEE region however shows a quite diversified scenario. The market attractiveness / risk mix clearly remains in favour of Russia, Turkey and Romania. Other Central and Southern European countries show good attractiveness and a low risk profile. The strongest impact of the crisis affected the Ukraine, Kazakhstan and the Baltic countries, with a clear need for a rebalancing of the growth model.

Lack of demand for lending behind the current credit crunch

During the crisis, first liquidity crunch and then concerns for credit quality have been behind lending weakness. At the beginning of this year the situation clearly changed. As expected, today stagnating loan volumes are a matter of lack of demand, in the context of over-liquidity. “Banks are liquid, which is proved by the fact that placements with the central banks are far above the minimum requirements”, so Ghizzoni.

The key question for the around 2,450 banks operating in the CEE banking sector, with their total assets of more than EUR 2,100 billion, is how to re-start the engine. “Demand rather than supply of credit should be the key driver out of the crisis”, says Revoltella. Thus, in a future scenario of strict fiscal control, the countries should find a way of stimulating demand. Options to achieve this could be by fully deploying EU funds, by putting competitiveness and quality of the operating environment on the top of the priorities. “EU Funds, if fully utilized, have the potential to add from 1 to 2 pp of nominal GDP growth to the region in 2010, which is a remarkable figure in the current context”, explains Revoltella.

With respect to banks’ commitment, Federico Ghizzoni underscores UniCredit’s favorable position: “We have entered 2010 highly capitalized, with € 2 bn additional capital in Bank Austria available for growth in the region. We have over-liquid banks, ready to re-start lending and we have an excellent network and a good country positioning to leverage on, other than streamlined internal processes to grant speed of decision and fully exploitation of Group best practices. Thus, the CEE region remains one of our key pillars where we are in the position to fully exploit future growth opportunities.” The ranking of the top banks in CEE is led by UniCredit Group, operating through Bank Austria in CEE , with total assets of EUR 116 billion and a net profit before tax of EUR 1,600 million in the region in 2009. With CEE weighting for 13% of the Group’s total assets, UniCredit is also a well diversified player in the region.

This text can be found on the homepage www.bankaustria.at.

CEE banking - the way out of the crisis


About UniCredit Group

UniCredit Group is a major international financial institution with strong roots in 22 European countries as well as representative offices in 27 other markets, approximately 9,800 branches and more than 165,000 employees at 31 December 2009. 


UniCredit Group is market leader in Central and Eastern Europe, where it is one of the largest players in the banking market, with an extensive network of approximately 4,000 branches.

The Group operates in the following CEE countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

UniCredit Tiriac Bank reports a RON 64mn Net Profit in 1Q 2010

12.05.2010

12 May 2010 - UniCredit Tiriac Bank reports RON 64mn (EUR 16mn) net profit* under IFRS in 1Q 2010, aprox. 50% lower compared to the level reported in Q1 of last year, in a period of stagnant market and growing credit risk. Net profit under RAS for the same period is RON 61mn. Profitability levels remain good, although lower compared to last year. Annualized ROE is 11.5% and ROA is 1.3%. 

The bank reports RON 310mn revenues in 1Q 2010 which go down 8% year-on-year only due to the high non-recurring trading income last year. Operating expenses are 3% lower than last year. Cost-to-Income ratio further improves to 44.9%. Solvency ratio is comfortable at 12.83% under RAS, after full reinvestment of 2009 net profit. The net operating profit covers 1.8 times the net provisions for the period, the latter growing near 2.5 times year-on-year.

“The first quarter this year proved to be still recessionary for the Romanian economy and tough for the banking system. Credit risk continued growing led by increasing companies’ defaults. We consider our perfromance satisfactory on this background and look forward for signals of rebound in 2H 2010”, said Rasvan Radu, CEO UniCredit Tiriac Bank. 

The balance sheet total reached RON 20bn (EUR 5.1bn), up 8.5% compared to a year ago and at the level of 2009 end. Total outstanding on-balance-sheet loan portfolio increased 5.1% year-to-date, better than the system. Customer deposits reached RON 10mn, 5% lower year-to-date, similar to the system and mainly due to RON appreciation. Credit risks continues going up, yet better than the system. Over 90-day on-balance sheet defaulted loans reached 7.4%. Related provision coverage grew up to 5.4% under IFRS and 8.1% under RAS. 

The consolidated total assets of UniCredit Tiriac Bank, UniCredit Leasing Corporation and UniCredit Consumer Financing  on a full consolidated basis are RON 23bn, at the level of 2009. The shareholders’ equity is RON 2.3bn. The consolidated 1Q 2010 net profit of the group is RON 60.3mn. 


About UniCredit Tiriac Bank


UniCredit Ţiriac Bank is part of UniCredit Group, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Tiriac Bank is a true "one-stop-shop" for financial services, currently serving 516 thousand active customers through its 238 branches. In Romania, the bank is providing a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

* All data presented in this document is from the financial statements under IFRS, unless otherwise stated.

UniCredit Creates the Financing & Advisory Area to Serve Better Its Corporate Clients in Romania

11.05.2010

  • Ciprian Paltineanu takes over leadership over the Financing & Advisory activity of the UniCredit Group in Romania
  • Applying in Romania its global division model, the UniCredit Group creates the Financing & Advisory expertise area. It merges the Structured Financing, Syndication, Real Estate Financing, European Funds, Factoring and Consultancy activities.

The creation of this specialized product and service line follows the logic of separating the product structuring and management from the client administration activities, following a constant development of the group’s performance and level of providing services to the clients with financing and consultancy services.

Ciprian Paltineanu, who has been for over 3 years general manager of UniCredit CAIB Romania, has extended his responsibility over the specialized financing products, taking over the leadership over the Financing & Advisory activity of the UniCredit Group in Romania.

"Creating this expertise area within UniCredit Tiriac Bank, the group gets closer to the clients and their development needs. We want to increase the satisfaction degree of our corporate clients, capitalizing an increased organizational efficiency and the synergy between the profound knowledge of the client at the relationship manager and product expertise level within Financing & Advisory", Ciprian Paltineanu stated.

The offer of this expertise area is diversified, covering both basic financial products and sophisticated structured or consultancy solutions, addressing an enlarged client typology that varies from small and medium-sized companies to multinational and big corporate clients, as well as investment funds and real estate clients.

Raluca Tintoiu, who has accumulated an experience of over 11 years in corporate and investment banking in Romania and Great Britain, has joined the UniCredit team to coordinate the group’s corporate finance activity in Romania as general manager of UniCredit CAIB Romania SRL.

Thus, UniCredit positions itself for a cyclic recovery of the Romanian market, consolidating the capacity of serving its clients in a unitary way and intensifying the degree of specialization of its staff. Ralucai Tintoiu’s arrival brings a plus of expertise to the local investment banking team both in terms of acquisition and merger consultancy and attracting funds on the capital market.

"The new positioning proves the commitment of UniCredit of becoming the main player on the financing and consultancy market in Europe, capable of structuring and providing all relevant product and service groups in its whole territorial network, to all client segments, continuing to focus at the same time on providing quality and professional services to them. We wish Raluca success in her new position", Ciprian Paltineanu added.


About UniCredit Tiriac Bank 


UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

UniCredit Tiriac Bank Supports Culture Crusade

30.04.2010

UniCredit Tiriac Bank is joining the Culture Crusade, a project that promotes the Romanian artistic cultural values.

The second contest of the Culture Crusade will take place on May 11th, 2010. Beginning from 20:00 PM, the Romanian Athenaeum will host an exceptional recital held by the worldwide known violinist Joshua Bell accompanied by the piano player Sam Haywood. The famous musician will delight the audience in Bucharest with its 300 year old Stradivarius

The schedule of the show includes:

Wolfgang Amadeus Mozart - KV454 sonata for violin and piano in B flat major
Ludwig van Beethoven - Sonata op.30 no.2 in C minor
Maurice Ravel - Sonata in G major
Piotr Ilici Ceaikovski - Meditation from "Memory of a Dear Place" op.42 for violin and piano

Pablo de Sarasate - Introduction and Tarantella op.43

"We are supporting culture and art in a traditional way, this being a key component of the sustainable development strategy of our bank. Those familiar with UniCredit Tiriac Bank involvement in cultural events were probably not surprised by the support we are offering to the Culture Crusade and the values presented to the Romanian public,” declared Anca Nuta, Identity and Communication Manager of UniCredit Tiriac Bank.

Additional information on the event and tickets are available on the project site: www.cruciadaculturii.ro. The event is also sponsored by The Union of Romanian Musicians’ Interpretation Creation.


About Culture Crusade
Culture Crusade is an initiative of Dreams Agency that develops and implements product promotion strategies by culture and entertainment, both through classical media, and creative Internet marketing campaigns. Culture Crusade was opened with Sarah Chang’s concert held at Romanian Athenaeum on February 14th, 2010.

About UniCredit Tiriac Bank
UniCredit Tiriac Bank is a financial institution whose artistic cultural sponsoring activities place specific accent of visual arts, also covering music and literature, in line with UniCredit Group tradition.

The bank offers financial support to the fist independent art and culture center opened under the name of UNICREDIT PAVILION, and is also a strategic partner of International Contemporary Art Biennale in Bucharest. The artistic cultural component of out ethics and responsibility strategy is represented by our involvement in long term projects that the Bank finances as main partner - for example, George Enescu International Festival and Contest and UniCredit Literary Debut Contest.

Get a part of the UEFA Champions League Final

29.04.2010

The countdown to the UEFA Champions League Final 2010 has started. While FC Bayern and FC Internazionale Milano are getting ready to compete for the Trophy in Madrid on May 22nd, football fans across Europe can experience more than their usual anticipation of watching the big showdown. For the first time in UEFA Champions League history, fans have the chance to get their very own part of the Final thanks to a context organized by UniCredit Group, Official Sponsor of the competition for 2009-2012. 

UniCredit Group will send out pieces of the original confetti that traditionally rains down on the champions during the Trophy hand-over ceremony to the first 50.000 fans who register to receive this priceless memorabilia. Registration is possible from April 27th to May 23rd 2010 at www.get-your-part.eu

The website provides all details regarding the chance to get original champions confetti, including two viral spots that show the emotion of receiving that gift. The original confetti that will be collected right after the ceremony will reach the lucky fans by postal mail together with a certificate and a photo from the Trophy hand-over.

All details at: www.get-your-part.eu.

The initiative aims to get football fans across Europe feel closer to the competition, by enabling them to be part of it. With the same spirit, at the start of each season, UniCredit Group presents the UEFA Champions League Trophy Tour, which brings the Trophy to the European public. The Trophy Tour kicked off in Milan last September, before touching Croatia, Hungary, Romania and Bulgaria. It will resume after the summer with new exciting stopovers. 
  

About UniCredit Group


UniCredit Group is a major international financial institution with strong roots in 22 European countries as well as representative offices in 27 other markets, approximately 9,800 branches and more than 165,000 employees at December 31st 2009. UniCredit Group is market leader in Central and Eastern Europe, where it is one of the largest banking players, with a broad network of approximately 4,000 branches. The Group operates in the following CEE countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

About UniCredit Tiriac Bank 


UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

Journalism prize Writing for CEE announced for 2010

29.04.2010

  • Bank Austria and APA announce the renowned award for excellence in journalism
  • Submission deadline for the prize, endowed with a prize money of 5,000 euro, is 31 July 2010
  • In the spotlight are contributions, which focus on borders and prejudices within Europe in varied ways and help overcome them

For the seventh time, Bank Austria, member of UniCredit Group, in cooperation with the APA - Austrian Press Agency announces the renowned journalism prize "Writing for CEE".  The award, which is endowed with 5,000 euro, is intended to promote journalistic debate on questions regarding Europe and European integration. The award goes to contributions that cover Europe, life and everyday existence in European countries, European art, culture or lifestyle in distinct and varied ways - and make a contribution to overcoming borders and prejudices. 


The prize "Writing for CEE" focuses not only on the EU-region, but rather on Europe, taking particular account of Central and Eastern Europe. Journalistic contributions that were published between 1 August 2009 and 31 July 2010 can be submitted up until 31 July 2010. Transcripts of radio, TV and online contributions are also welcome. The prize winner will be announced and presented with the award at the end of 2010 at a festive event in Vienna.

The Vice Editor in Chief of Vienna’s city paper "Falter", Florian Klenk, was awarded the prize "Writing for CEE 2009". The 36 year-old "investigative journalist" received the prize for a report that appeared in "Berliner Zeitung" and in "Falter", and was also published as an award-winner on www.apa.at/cee-award. The contribution is entitled "Behind the Fence" and deals with conditions in a refugee camp situated in the Ukraine at the point where Slovakia, Hungary and the Ukraine meet. The guest of honour at last year’s award ceremony was former East German civil rights activist Bärbel Bohley. 

Members of the international jury are Czech communications scientist Milan Smid, Slovakian publicist Michael Berko, communications consultant Ildiko Füredi-Kolarik, Slovenian playwright Jože Hudeček, Polish journalist Igor Janke, Czech ex-presidential adviser Jiří Pehe, Hungarian radio journalist Julia Varadi, Bulgarian author Janina Dragostinova, CEE press spokesperson of Bank Austria - UniCredit Group, Silvana Lins, and APA foreign policy chief Ambros Kindel. 

Submissions must include the contribution in the original language, a translation into English and a copy of the author’s CV. Information and the submission form for the prize can be found on the internet at www.apa.at/cee-award


About UniCredit Group
UniCredit Group is a major international financial institution with strong roots in 22 European countries as well as representative offices in 27 other markets, approximately 9,800 branches and more than 165,000 employees at 31 December 2009. UniCredit Group is market leader in Central and Eastern Europe, where it is one of the largest banking players, with a broad network of approximately 4,000 branches. The Group operates in the following CEE countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

About UniCredit Tiriac Bank 
UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

Online Banking transactions equivalent to 30% of the GDP at UniCredit Tiriac Bank in 2009

16.04.2010

In 2009, UniCredit Tiriac Bank registered the highest value of Online Banking transactions performed in Romania, with a total volume of RON 142 billion (EUR 33.5 billion), representing over a third of the circulated volume, at market level, by this channel.

The volume of all transactions performed by the Online Banking service of UniCredit Tiriac Bank in 2009 represents almost 30% of Romania’ gross domestic product’s value (GDP).

As compared to 2008, the volume of total Online Banking transactions at UniCredit Tiriac increased by 16%, calculated at the RON value, and by 1%, respectively, calculated at the EUR value. The strongest increase was registered in the segment of transactions performed in EUR, respectively by 66%, as compared to 2008.

Furthermore, the number of corporate clients increased by 54% last year, as compared to 2008, reaching a number of 34,539 users. In total, UniCredit Tiriac had approximately 81,400 Online Banking users at the end of 2009, being now 61% more than in 2008.

At the eFinance Online Banking Awards, organized yesterday by Finmedia, the bank situated on the first place at the following categories:

·         Total value of Online Banking transactions (EUR 33.5 billion)

·         Total value of Online Banking transactions performed in EUR (EUR 20.5 billion)

·         Total value of Online Banking transactions performed by corporate clients

·         Total value of Online Banking transactions performed by private individuals

·         Number of corporate clients users of the Online Banking service (34,539 users)

Moreover, the bank situated on the second place at the following categories:

·         Total number of Online Banking transactions (4.4 billion)

·         Total number of Online Banking transactions performed by corporate clients (3.9 billion)

·         Total number of Online Banking transactions performed in RON (RON 55 billion)

"The awards received from Finmedia are to us comparable to the recognition as the best Online Banking in Romania. We propose to continue and be as close as possible to our clients, by any and all alternative channels - Online Banking, ATM, Non Stop Banking, Info SMS, POS, e-Commerce, Telephone Service – in order to facilitate access to high-quality banking services", stated Doina Costache, Head of MultiChannel Management within UniCredit Tiriac Bank.


About UniCredit Tiriac Bank 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

UniCredit Tiriac Bank installed POS devices in Grant Taxi cabs

13.04.2010

UniCredit Tiriac Bank installed approximately 90 credit card payment devices in Grant Taxi auto vehicles, which provide taxi transportation services even for the International "Henri Coanda" airport.

As is the case with the rest of the POS devices in the network, the bank does not charge any tax from the customer for the performed operations. The devices are using the GPRS technology and they are both equipped with chip card reader, as well as with magnetic card reader. 

"With this solution, we are attempting once more to get closer to our customers and to facilitate their access to electronic payment methods, more comfortable and with more advantages", said Bogdan Spuza, Marketing and Segments Manager with the UniCredit Tiriac Bank Retail Division.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

UniCredit Tiriac Bank launched a housing loan in Lei with annual effective interest under 10%

06.04.2010

In order to fulfill the needs of the customers who want to purchase or build a house, UniCredit Tiriac Bank launched a housing loan in Lei, with a very profitable interest rate, calculated as ROBOR at 3 months + a margin of 3.25%, for which the annual effective interest is under 10%.

Therefore, when acquiring a housing loan in Lei, in the amount of RON 120,000, granted for a 30-year tenor, the customer pays a monthly installment of RON 973, and the annual effective interest is 9.75%.

The Bank launched a new consumer loan with mortgage, in RON, for which the interest is calculated as ROBOR at 3 months + a margin of 5.25%. This product can be used to finance personal needs and to refinance one or several previously contracted loans.

"With this new offer, we tried to consider our customers’ needs and we facilitated the access to loans in the currency of their income. Thus, we are trying to reduce the possible risks associated with long-term crediting" stated Bogdan Spuza, Marketing and Segment Director, within the Retail Division of UniCredit Tiriac Bank.


About UniCredit Tiriac Bank 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

The Champions Package, from UniCredit Tiriac Bank, can bring customers two tickets to the UEFA Champions League final in Madrid

31.03.2010

As a result of the partnership between UniCredit Group and UEFA Champions League, UniCredit Tiriac Bank released a promotional offer in Romania valid until May 4, 2010, through which customers can win two of the eight tickets available for the UEFA Champions League final, when purchasing the Champions’ Package.

The Champions’ Package consists of a MasterCard card with a special design, reminding customers of the electric atmosphere specific to UEFA Champions League games, which is issued in a limited edition. Apart from the special design of the cards, by acquiring the Champions’ Package, the customer benefits from current accounts in Lei or foreign currency, Direct Debit, Info SMS and Online B@nking services.

The winners of the drawing will be accompanied by one of their friends to the big final in Madrid, in May 22, 2010.

The drawing of the winners will take place on May 7, 2010, two weeks before the final, and the winners’ names will be published onwww.unicredit-tiriac.ro/pachetulcampionilor.

Other details and the Official Regulation are available in any UniCredit Tiriac Bank branch and on the webpage www.unicredit-tiriac.ro.

Also, when purchasing a Standard Champions’ Package, the customer receives a mini football, and when purchasing an Optimal Champions’ Package, the customer receives a card-shaped memory stick.


******


About UniCredit Tiriac Bank 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

Anca Nuta was appointed Manager of the Identity and Communication Department of UniCredit Tiriac Bank

30.03.2010

March 30th, 2010, Bucharest - Anca Nuta (31) is, starting from March 2010, the new manager of the Identity and Communication Department of UniCredit Tiriac Bank and from this position, she will coordinate communication activities, corporate events and partnerships, brand management, corporate marketing and corporate sustainability.

Anca Nuta has been working for UniCredit Tiriac Bank for eight years, in the position of Manager for Corporate Events and Partnerships, and as of April, 2009, she was appointed interim manager of the Bank’s Identity and Communication Department.

As a graduate of Law School and of a master's program in Public Relations and Communication, Anca Nuţă coordinated projects with significant impact on the community, initiated within UniCredit Tiriac Bank, such as Cicloteque, the Literary Debut Contest, Gift Matching and PAVILION UNICREDIT. In September 2009 she brought the UEFA Champions League Trophy in Romania, within a large tour in over six cities of the country, making it therefore possible for the trophy to be admired and photographed by over 20,000 Romanian people.

"We want to play an active role in the middle of the community where we carry out our activity, through a transparent communication of our business activity. Furthermore, UniCredit Tiriac Bank carried out several social, environmental protection and cultural projects.Our intention therefore, in what concerns the publication of the bank's activities and our social involvement, is not to use it for advertisement, but to make of it a responsible business model, focused on the consumer, both as customer, as well as in day to day  activities", stated Anca Nuta.

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About UniCredit Tiriac Bank 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

UniCredit Group takes part in Earth Hour

26.03.2010

Coherently with its commitment on sustainable development, Saturday March 27th, UniCredit takes part in the worldwide event sponsored by WWF (World Wide Fund for Nature), by switching off lights in some of its major buildings in Europe.
 
UniCredit Tiriac Bank will also turn off the light in its offices in Romania.

UniCredit Group will take part in Earth Hour, worldwide event sponsored by WWF, to be held next Saturday, March 27th, with the aim of making people, institutions and companies aware of climate change issues.
 
At 8.30 p.m., lights will be switched off for 60 minutes in several European UniCredit Group buildings in order to prove, through a symbolic action, the Group’s commitment on climate protection and to highlight the need of reducing greenhouse gases emissions. UniCredit has promoted the Earth Hour message through its internal communication tools, inviting its 174,000 employees to join the initiative.
 
The Group will take part to the WWF event, coherently with its commitment on climate change already proved by several environmental actions taken over the last years including the use of energy efficiency measures and renewable sources in its branches and main buildings and its presence in such programs as UNEP FI (United Nation Environment Programme Finance Initiative), a global partnership between UNEP and the financial sector aiming to evaluate the impacts of environmental and social issues on the financial performance.
 
Through its presence in the WWF event, the Group chooses to symbolically express its awareness of the responsibility that financial groups should experience towards the main environmental issues and sustainable development.
 
On Saturday 27th, Earth Hour, global-mobilization event on climate sponsored by WWF, will encompass 25 time zones (8.30 p.m. CET), switching off lights of cities, monuments, institutions, firms and houses all over the world involving this year a booming record of more than 2,700 cities across the world (100 in Italy) in 83 countries, aiming to involve one billion people to call on world policy makers to preserve the planet against the global climate change.
 
You can find details about the campaign Earth Hour Romania on the website www.earth-hour.ro

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About UniCredit Group

UniCredit Group is a major international financial institution with strong roots in 22 European countries as well as representative offices in 27 other markets, more tnan 10,000  branches and aproximatively 174,000 employees. 

UniCredit Group is market leader in Central and Eastern Europe, where it is one of the largest banking players, with a broad network of approximately 4,000 branches.

The Group operates in the following CEE countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

About UniCredit Tiriac Bank


UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

About WWF

Established in 1961, WWF is the most important international organization which develops projects for nature conservation, in more than 100 countries. WWF mission in the world is to stop environment’s degradation and to develop a future where people live in harmony with the nature, by:

-    conserving the biologic diversity worldwide;
-    rational using of renewable natural resources;
-    reduction of pollution and irrational consumption.

WWF programme Dunara-Carpati Romania aims at conserving the natural environment and ecological process in Romania and in Dunare-Carpati region, initiating, developing and supporting projects for keeping the biologic diversity, wild species and natural ecosystems.

The UniCredit Literary Debut Contest reached its third edition

25.03.2010

Bucharest, March 25th, 2010 - The Catalist Association, in partnership with UniCredit Tiriac Bank, organizes the third edition of the UniCredit Literary Debut Contest. The contest enrollment period starts today, March 25th and ends on May 25th 2010.

The contest addresses the authors whose literary works were never published. Further information on the eligibility criteria, and contest enrollment procedures can be found on the websit: www.bibliofagia.ro


The UniCredit Literary Debut Contest includes three categories: novel, short stories and poetry. The submitted works will be valuated by renowned names in the academic and literary fields, such as: Paul Cernat, Liviu Papadima and Mircea Vasilescu, who also juried the previous editions of the contest. The winning works, one for each section, will be published and promoted by the Humanitas publishing house, within the Gaudeamus International Book and Education Fair, 17th edition.


In partnership with PAVILION UNICREDIT, there will be organized meetings with renowned personalities from literary and publishing Romanian fields, on April 14th and 18th.


"The UniCredit Group has a wide tradition in arts and culture patronage programs", said Anca Nuţă, Identity & Communication Manager of UniCredit Tiriac Bank. “The UniCredit Literary Debut Contest is just another cultural initiative that we decided to continue because we want to support the young people who do not benefit from enough help to start a literary career. We are glad to have achieved the promotion, though our previous two editions, of six young people who deserved this contest as their starting point in their career and we are certain that this year's edition will also bring about works of talented writers."

"We carried out a small market research survey before organizing this contest, and we discovered that there are very few such initiatives and if any, they are generally restrictive - they either set an age limit, or they require the participants to submit Resumes. We wanted to organize a contest opened to absolutely everyone who is writing, whose works will be valuated by a jury, someone who is not part of any publishing house or group, where the only participation condition is not to have debuted already (with a published volume), and the selection criteria will strictly be the value of the texts, without any relevance in what regards the age, experience or prior achievements of the participants.

In the end, what matters the most, is the fact that through this contest, we manage to open an otherwise maybe inaccessible opportunity for certain authors. Furthermore, the debut in a prestigious publishing house is, in my opinion, an additional reason for us to carry on with this project", declared Cristina Guseth - Catalist Association.

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About UniCredit Tiriac Bank

UniCredit Tiriac Bank is a financial institution, with cultural and artistic supporting activities which particularly emphasize the area of visual arts, covering at the same time the musical and literature fields, in the tradition of the UniCredit Group.

The bank provides financial support for the independent art and culture center, opened as PAVILION UNICREDIT, being at the same time, a strategic partner of the Bucharest International Biennial for Contemporary Art. The cultural and artistic component in the bank's ethic and responsibility strategy is materializing in its involvement in long term projects, which it finances in the capacity of main partner - as it was the case for instance with George Enescu International Festival and Competition and the UniCredit Literary Debut Contest.

Catalist Association

The Catalist Association was incorporated in 2007 with the purpose to promote Romanian culture, Romanian writing works in general, as well as to support the future Romanian writers. Except for having organized the third edition of the UniCredit Literary Debut Contest, this association also developed projects whose objectives were: development and maintenance of written culture, the increase of the public audience's interest in reading and promoting published books, initiation and promotion of an unusual project - a serial novel, published online and written by 5 Romanian authors.

UniCredit Tiriac Bank is granting EURO 1 million to the company Agromec Stefanesti, as working capital crediting facility

25.03.2010

UniCredit Tiriac Bank granted a working capital crediting facility to the company Agromec Stefanesti, tiller and farm tractor vehicle dealer, amounting to Euro 1 million.

The new loan granted for a period of one year is the third facility of this type, which UniCredit Tiriac Bank is granting to Agromec Stefanesti. The company is a customer of the bank since 2006 and until present day, it was granted loans amounting to approximately euro 4 million, from UniCredit Tiriac Bank.

“We have always appreciated the transparency of Agromec, the open minded approach and good collaboration with this customer. We would like to get involved in the improvement of the Romanian economy, in increasing the extent of European funds granted for development, therefore we entirely support initiatives such as that of Agromec Stefanesti", stated Mr. Lucian Ghinescu, Branch Manager of the Rosetti Bucharest Corporate Branch of UniCredit Tiriac Bank. 

Petrica Soare, General Manager of Agromec Stefanesti: “We want to play an active role in the “Cash for Clunkers" program for farm tractors, in which the government grants up to RON 17,000 but not more than 50% of the entire value of the new tractor, but we will also support our customers who are willing to access European funding sources. In this respect we have always been supported by UniCredit Tiriac Bank, the institution which provided us with the necessary funds whenever we needed". 

In 2009, Agromec Stefanesti achieved an approximate turnover of euro 8 million.

The company is currently collaborating with a diverse range of customers, from budgetary institutions to economic agents operating in the agricultural field and farmers, at the same time providing servicing works for the shipped equipment.

UniCredit Tiriac Bank continued to support its customers, making it easier for them to overcome the crisis moments throughout the last year. The agriculture is a priority domain in the bank's financial strategy, with a high potential for the following period, especially considering the European funds which may be acquired in this field. 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515,000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities

In search of new talents for Master Programs in Banking

24.03.2010

  • Admissions for 3rd edition of the International MBA in Retail Banking as well as the New Europe Master in Banking and Entrepreneurship are open
  • Total or partial scholarships are possible

Young talents who wish to pursue an international career in the banking sector can find a profound training in two Master Programs launched by UniCredit Group in cooperation with experienced partners in their respective field. Both Master Programs focus on the banking industry, offering the possibility to enhance knowledge and skills, setting solid foundations for a career in the banking and financial industry.


The International Master of Business Administration in retail banking of Alma Graduate School and UniCredit is the only MBA, among the 2.500 masters offered in the global educational landscape, which has a focus on financial industry and retail. The intention of the course taking place in Bologna is to create a disciplinary itinerary which promotes first of all a leadership model based on the values and on the capacity to motivate and involve the others in achieving the objectives. Last year 21 students coming from Armenia, Cameroon, India, Italy, Macedonia, Mexico, Serbia, Sri Lanka, Taiwan, Turkey and Hungary seized this educational and professional opportunity. 

Ideal profile of candidates

The MBA is open to young people from all over the world who wish to develop a successful career in the retail banking world, in the banking sector as a whole or more in general in the financial industry. The ideal candidates are aged between 25 and 32; have at least an undergraduate degree and have worked in a company for at least three years , not necessarily in the retail field. Courses are held in English, thus an excellent knowledge of the language is essential. 

The MBA has a participation fee of EUR 25,000. The best candidates admitted to the programme will be offered various scholarships and thanks to an agreement between Alma Graduate School and UniCredit they may also request “honour loans” covering the total cost of the MBA plus a lump sum of 10,000 Euro to pay for personal expenses during the academic year. 

This year’s edition will start in October and will develop throughout 12 months of full-time work. The final deadline for submission of the 2010/2011 application form is June 28th, 2010. For further information on submission and details on the course, please go to UniCredit MBA Admissions Office: unicreditmba@almaweb.unibo.it or to the homepage of Alma Graduate School -http://www.almaweb.unibo.it/unicreditmba .

The New Europe Master in Banking and Entrepreneurship is a post-graduate program of UniCredit Group in cooperation with Fondazione Cassamarca. The Master aims at providing a technical and practical understanding of the European banking system and of the multifaceted relationships between banks and business communities. What differentiates this accredited Master’s program from other programs is its strong focus on banking and entrepreneurship, coupled with the opportunity to engage in a 3-month-internship at UniCredit Group. 

Ideal profile of candidates

This program is particularly geared to students from Central and Eastern European countries, providing them with a chance to live in Italy and absorb the language and culture of the country. Candidates should have a university degree (bachelor’s or master’s degree) and a certificate demonstrating their proficiency in English. Furthermore preferably is a finance-related internship experience and/or 1-2 years of work experience. 

The New Europe Master Program lasts one academic year, with compulsory attendance and the 8th edition will start in October. The deadline for the submission of the application form is June 30th, 2010. The premises for this Master program are situated in Conegliano, a town in the heart of the Veneto region which represents a gateway to Eastern Europe and is well known for its entrepreneurial formula. The participation fee for the Master’s program is EUR 25,000. This includes board, lodging and teaching material. The sponsors of the Master’s program will award the selected candidates with a scholarship covering up to EUR 22,000 of the registration fee. For further information please go to www.masterbe.com.

UniCredit Tiriac Bank reduces the costs for the Internet Banking Service for SME and individuals

24.03.2010

  • The Internet Banking service is free of charge for the SME customers acquiring a current account package from UniCredit Tiriac Bank starting from Wednesday, March 24th 
  • For individuals, the cost of the digipass, the security device enabling the access to the Internet Banking account, was reduced by 40%, to €12. The tax is charged as before, just once, when the account is opened.
  • Inter-banking transactions (between UniCredit Tiriac Bank customers), operated via Internet Banking are free of charge and the cost for transactions with other banks is 50% less than the costs for cash desk operations.

March 24th, 2010 - UniCredit Tiriac Bank cancelled the €20 guarantee charged for the digipass used for accessing the Internet Banking service for SME customers.


Therefore, starting from today, the SMEs acquiring a current account package from UniCredit Tiriac Bank will have free access to the Internet Banking service.

In what regards individuals, the tax for the digipass used in accessing the Internet Banking services was reduced by 40%, respectively from €20 to €12. This tax is charged only once, when the account is opened.

Internet Banking transactions are convenient for customers, whereas:

·         They are free of charge for inter-banking operations and 50% cheaper than the cash desk operations

·         Operations take less time, because it is no longer necessary to go to the cash desk.

·         The security of the service is provided through 3 levels of safety (user, PIN and a unique code generated by the digipass and valid for only 20 seconds)

·         They provide the opportunity to pay the facility bills by predefined patterns or by direct payment to the respective facility provider.

"By this new price change for the Internet Banking services, we would like to welcome our customers with simple solutions, accessible and convenient. In the close future, we would like the Internet Banking Services to become as used and necessary as it is the case of mobile phones in Romanian people's day to day life", stated Doina Costache, Head of MultiChannel Management in the Marketing and Segmentation Department, Retail Division of UniCredit Tiriac Bank.

UniCredit Tiriac Bank has approximately 50,000 individuals and over 20,000 SME customers, users of the Internet Banking service.

In 2009, the number of Internet Banking users increased by 60%, as compared to last year. 

The Internet Banking Service provided by UniCredit Tiriac Bank may be accessed by using any computer connected to the internet or through any of our 52 Non-Stop Banking machines (machines for banking operations, available 24 hours a day, 7 days a week). The list of these machines may be seen on the bank’s website http://www.unicredit-tiriac.ro/


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515,000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

UniCredit Tiriac Bank offers the Real Estate Acquisition Loan, with a margin of only 5.95% for EURO, free of any pre-approval charge for the customer

23.03.2010

UniCredit Tiriac Bank offers the Real Estate Acquisition Loan with a competitive margin, of 5.95% above EURIBOR for 6 months, valid for any level of the paid advance. Furthermore, the customer will not pay any loan pre-approval tax.

For instance, for a loan of euro 52,000, to return in 30 years, the variable interest will be of 6.94% (EURIBOR 6 months + 5.95%) and the effective annual interest rate will be of 7.52%. Consequently, the monthly installment paid by the customer will be of EURO 348.

The Bank does not charge a loan administration fee or an analysis fee, but only a granting fee, of 2.3% of the granted amount, payable only once.

The Real Estate Loan is destined for acquisition of a property or a piece of land, as well as for financing rehabilitation works; the loan may be applied for by any person aged between 20 and 65 with a family net income of minimum 850 RON.
The loan covers up to 80% of the cost of the real estate property and the crediting period may be from 3 to 30 years for the acquisition of a property or a land and from 3 to 10 years for financing of rehabilitation works.

LOAN GRANTING FLEXIBILITY Upon the eligibility assessment, UniCredit Tiriac Bank will take into account revenues from salary, bonuses, pensions, sales commissions, per diem, copyrights, rents, dividends and income from liberal professions or life annuity. 

Both the loan value, as well as the most appropriate crediting period will be established by taking into account all these sources.

The interest rate is of: EUR - 6.94% /year; RON - 11.80%/year; USD - 8.93% /year.

For customers who are natural persons, contracting simultaneously a loan (exceed for Consumer Loan) and a credit card, UniCredit Tiriac Bank will return 1% of the value of transactions operated by credit card with economic agents throughout a year, and this amount of money will be reused for payment of the loan monthly installments.

This offer is available for customers who have both crediting products active upon completion of every year after the credit card issuance date. Upon the respective date, the customers will receive in their current account 1% of the value of transactions operated by credit card with economic agents both in Romania and abroad.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a real "one-stop-shop" for financial services, currently provided to 515.000 active customers, through 241 branches. In Romania, the group offers a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

UniCredit Tiriac Bank has assigned EUR 16 million for the second phase of the First House program

05.03.2010

UniCredit Tiriac Bank received yesterday, March 4th, the confirmation for participating in the second phase of the "First House" government program, having assigned a limit of EUR 16 million.

UniCredit Tiriac Bank’s offer for continuing the First House program entails keeping the previous costs, namely the interest made up of 3 months EURIBOR + 4.0% margin for loans in Euro, and 3 months ROBOR + 2.5 % margin for loans in RON.

The bank does not charge a loan granting fee, or an early repayment fee.

UniCredit Tiriac Bank facilitates the payment of the administration fee to the National Loan Guarantee Fund for SME, by splitting it into monthly fees of 0.03% of the loan balance account. Therefore, thus resulting a standard cost of 0.37% / year, charged by all banks participating in the program.

The offer will be available as of next week in all UniCredit Tiriac Bank branches.


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About UniCredit Tiriac Bank 

UniCredit Tiriac Bank is part of the UniCredit Group network, the biggest bank group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, from which about 600,000 customers currently benefit through approximately 240 branches.

UniCredit receives mandate for SEPA payments of the European Commission

22.02.2010

The European Commission has charged UniCredit with carrying out a large portion of the Commission's SEPA payments. Thus, UniCredit is one of four banks responsible for all SEPA payment transactions on behalf of the European Commission from now on. 

Sergio Ermotti, Deputy-CEO of UniCredit: "This mandate shows the quality of our Global Transaction Banking capabilities that allows us to serve our clients in 22 European countries."

Marco Bolgiani, Head of Global Transaction Banking of Uni-Credit: "The crucial factor for the European Commission's positive decision was our strong commitment to SEPA, together with our large network all over Europe."

The mandate was awarded as the result of a tendering process in which all banks in Europe were invited to take part. "With a share of between 25 and 35 percent of the total volume, we have proved our competitiveness once again", said Marco Bolgiani. The total transaction will amount to more than 1.6 million international payments with a volume of over EUR 33 billion. The European Commission's deci-sion to process payment transactions via SEPA in the future and to focus on four banks means it will progressively abandon the previous model in which local banks in every European state were responsible for processing the respective payments.

UniCredit Tiriac Bank launches MasterCard Gold Miles & More chip credit cards

01.02.2010

  • The MasterCard Gold Miles & More chip credit cards have an increased degree of security, their forgery being nearly impossible
  • The MasterCard Gold Miles & More magnetic strip credit cards may be replaced with the chip credit cards, for no additional cost

Bucharest, 1st of February 2010 - UniCredit Tiriac Bank launches MasterCard Gold Miles & More chip credit cards. The new payment instruments allow the storage of additional information, so that new types of services and fidelity programs may be developed.


Due to the chip, the MasterCard Gold Miles & More credit cards offer, first and foremost, an increased security to the holders, as it is very difficult to forge. Moreover, these payment instruments allow offline transactions, in conditions of maximum security without the need of contacting the issuing bank, all of these due to the security configurations of the chip. Thus, the payment processing speed will increase. Last, but not least, the MasterCard Gold Miles & More magnetic strip credit card holders who wish to replace them with the chip version may do so for no additional cost.

"We wish to offer the bank’s clients efficient and safe payment instruments, that is why we introduced in our portfolio the MasterCard Gold Miles & More chip credit card", stated Bogdan Spuza, Marketing and Segments Director of UniCredit Tiriac Bank. "We consider that by launching this product with superior security features we meet the needs and expectations of out clients."

"Last year, the MasterCard Gold Miles & More credit card was the first to bring on the Romanian market the largest fidelity program in Europe, which enjoyed great success in the neighboring countries", said Cosmin Vladimirescu, Account Manager for Romania, MasterCard Europe. "MasterCard supports the partner financial institutions in the migration process for the EMV technology and we are certain that, beside the benefits already known by the MasterCard Gold Miles & More card holders, they will appreciate the extra safety offered by the introduction of the  chip."

Miles & More is the largest fidelity program in Europe, which targets frequent fliers, offering the possibility to accumulate and spend premium miles.  

The MasterCard Gold Miles & More chip credit cards offer multiple advantages to the clients, who may accumulate premium miles when flying with Lufthansa and the Miles & More partner air flight companies, when they use partner hotels, when paying bills, as well as when they pay using the card. The miles thus accumulated may be used in order to pay for air flights or to obtain various discounts. The MasterCard Gold Miles & More chip credit cards also include international travel insurance from AIG România.

In Romania, UniCredit Tiriac Bank launched in May 2009 the magnetic strip version of the co-branded MasterCard Gold Miles & More card.

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About UniCredit Tiriac Bank 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest bank group in Central and Eastern Europe. UniCredit Tiriac Bank is a true "one-stop-shop" for financial services, which currently has approximately 600,000 clients via 242 branches. The Bank offers in Romania a large range of specialized products and services by its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB România, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration. 

About Miles & More 

Miles & More is the program dedicated to the frequent fliers, developed by Lufthansa, in partnership with air flight companies Adria Airways, Air Dolomiti, Austrian Airlines Group, Cirrus Airlines, Croatia Airlines, LOT Polish Airlines, Lufthansa Regional, Lufthansa Private Jet and Swiss International Air Lines. Launched in 1993 by Lufthansa, the program currently has approximately 16 million members world-wide, being the largest fidelity program in Europe for frequent fliers. The Miles & More members accumulate premium miles when they fly using each of the Star Alliance partners, but also when they make transactions with the partner dealers. The accumulated premium miles may be used for paying air flights or for obtaining other prizes.

About Lufthansa 

Lufthansa Group sums up a number of privately-owned companies, which offer air transport services, including passenger flights by Deutsche Lufthansa AG, logistics, catering for flights, flights device maintenance and informational technology. Lufthansa is a founding member of the Star Alliance, developing one of the most powerful alliances in the industry.

About MasterCard Incorporated

MasterCard Incorporated promotes global commerce, offering an essential economical connection between financial institutions, companies, card holders and dealers, world-wide. In its triple capacity of franchisor, processer and counselor, MasterCard develops and supports payment solutions, processes over 21 billion transactions each year and offers specialized tests and consultancy services to the financial institutions that are it clients and to dealers. With the support of MasterCard Worldwide Network and via its trademarks MasterCard®, Maestro® and Cirrus®, MasterCard offers services to clients and companies in over 210 countries and territories.

UniCredit Group awarded by Global Finance

15.01.2010

The prestigious financial magazine “Global Finance”  awarded during a ceremony held in New York on January 15th 2010 the best providers of treasury and cash management.

UniCredit was nominated as best bank in CEE for Cash Management services in all three possible categories:

  • Best Payments & Collection Bank 
  • Best Liquidity Management
  • Best Overall Bank for Cash Management

We thank our clients and partners for their support and for the contribution to our performances.

BitDifender Protection for the MasterCard Business Cards issued by UniCredit Tiriac Bank

26.11.2009

BUCHAREST, November 26th, 2009 - UniCredit Tiriac Bank company customers who own a MasterCard Business credit card have a new benefit - a free BitDefender Internet Security 2010 free licence offered by MasterCard Europe for as long as the card is valid. This initiative is aimed at ensuring total protection when the card is used on the Internet.

BitDefender Internet Security 2010 includes an innovative technology, Active Virus Control, which monitors, real time, all active applications and blocks suspicious ones. Thus, protection against new viruses and against virus lines which are still unknown is ensured. BitDefender Internet Security 2010 comes with a simplified interface which is adaptable and offers fast access to the main security functions, based on the profile of the chosen user.

This licence will be offered to all UniCredit Tiriac Bank customers, MasterCard Business card owners, and it can be downloaded once they are authenticated at http://mastercard.bitdefender.com/unicredit-tiriac/.

"The consequences of the crisis are strongly felt in Romania as well. Given this fact, malware code authors are searching for new sources to "supplement their incomes", speculating on any vulnerabilities in the user system. To prevent their attacks, BitDefender is proud to cooperate with UniCredit Tiriac Bank and MasterCard Europe, providing top security solutions, to effectively protect their users," saidRazvan Valceanu, Country Manager, BitDefender

Since 2004, MasterCard Europe has provided players involved in online transactions with MasterCard SecureCode, an online transaction securing programme. The initiative of the three partners, UniCredit Tiriac Bank, MasterCard Europe and BitDefender, brings more security to online transactions.

"E-commerce in Romania has followed an ascending trend, because the new financial situation pushed businesses with low logistic costs, like the online ones," says Cosmin Vladimirescu, Account Manager for Romania, MasterCard Europe. "Our surveys indicate a higher level of confidence in card payments, which creates new favourable premises for e-commerce, but, once you earned your cardholder's confidence, you have to maintain and confirm it. In order to offer more security, we signed an agreement with BitDefender, exclusively providing the owners of MasterCard Business cards issued by UniCredit Tiriac Bank with the BitDefender Internet Security 2010 service package.”

"This benefit, attached to the MasterCard Business card, makes the product more attractive and competitive, especially because today it is unique on the Romanian market, says  Cezar Miron, Team Leader Cash Management Products, UniCredit Tiriac Bank. "More than that, apart from the MasterCard Secure Code protection mechanisms that the card uses, customers who use the card frequently for online purchases are protected against viruses as well as phishing. We wish to provide further value to our whole Business card portfolio, and this is the first relevant step in this direction, since we signed an agreement with the Romanian market leader for antivirus software and with MasterCard."


MasterCard Business is an embossed credit card, with a chip, which can be used nationally and internationally, it can provide access to a credit line of up to EUR 30,000 based on the company's turnover, available on 100% of POS payments.

BitDefender Internet Security 2010 incorporates a special protection module against phishing attacks, one of the most popular illegal methods to get to confidential personal data (address, phone number, personal numeric code, username and password, PIN codes, etc). These attacks generally target e-banking and online service users.

For further information on BitDefender Internet Security 2010, please click here.



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About BitDefender®
    
BitDefender is the producer of one of the fastest growing and most efficient data securing solutions, internationally attested. Since its beginning, in 2001, BitDefender raised the expectations and the standards in terms of proactive prevention of e-commerce dangers, by offering fast solutions which are easily updated. Every day, BitDefender protects millions of individuals and companies worldwide, offering them the possibility of a completely safe digital experience. The BitDefender solutions are available through a global partners network (distributors and resellers) in more than 100 countries around the world. In Romania, the BitDefender solutions are available through their distribution partners: Agis Computer, Aline Distribution, Asesoft Distribution, RHS Company, SCOP Computers and in the following retail chains, which have national coverage: Altex, Auchan, Carrefour, Depozitul de Calculatoare, Domo, Media Galaxy, Metro and Twister.

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group Network, the largest banking group in the CEE region. UniCredit Tiriac Bank is a true financial services one-stop-shop, with a current database of around 600,000 customers and 245 branches. The bank provides a wide range of specialised products and services through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Business Partner.

About MasterCard Incorporated

MasterCard Incorporated promotes the global commerce, establishing an essential economic link between financial institutions, companies, cardholders and merchants all around the world. In its triple quality of franchisor, processor and advisor, MasterCard develops and implements payment solutions, processes approximately 21 billion transactions a year and offers industry reports and consultancy services to customer financial institutions as well as to merchants. Supported by MasterCard Worldwide Network and through its MasterCard®, Maestro® and Cirrus® brand family, MasterCard serves companies and consumers in over 210 countries and territories. For further information, please visit www.mastercard.com.

About MasterCard Europe

MasterCard Europe manages the MasterCard Worldwide business in Europe. Based in Waterloo, Belgium, MasterCard Europe is active in 51 European countries. Through its local offices network, MasterCard Europe understands and meets the need of customers in various European markets, enabling them to do business as they want.

The Best New Writers Awarded by Catalist and UniCredit Tiriac Bank

26.11.2009

Bucharest, November 26th 2009 - The books awarded at the UniCredit 2009 literary debut competition, initiated by Catalist and UniCredit Tiriac Bank, will be launched today, by the Humanitas Publishing House, at the XVIth edition of the Gaudeamus International Book and Education Fair. The event will start at 4pm, at the Humanitas stand within the Romexpo Central Pavilion. 

The second edition of the UniCredit literary debut competition, initiated to support writers the works of whom were never published at large, attracted the participation of over 120 manuscripts, in three sections: poetry, short prose and novel.

The winners for this year are Gabriela Toma, Bucharest, in the "Poetry" section, for Cantecul geamanului (The Twin's Song)Carmen Dominte, Bucharest, in the "Short Prose” section, for Soarele rasare din televizor (The Sun Comes Out Of The TV Set) and Dorin Cozan, Vaslui, for Apocalipsa dupa Vaslui (Apocalypse of Vaslui ), for the "Novel” section.

The awarded works were selected by the same specialist jury as in the first edition of the competition, made up by Paul Cernat, Liviu Papadima and Mircea Vasilescu.

For further information on the competition and on the winners, please visit www.bibliofagia.ro

"We got involved in this project, trying to contradict the preconception that, in Romania, young authors are not supported to launch their careers," says Anca Nuta, Interim Communication Manager for UniCredit Tiriac Bank. "We, UniCredit Tiriac Bank, wanted to contribute to launching new writers, rather than do nothing. We would like to continue this competition, because, given our previous experience, we trust that, at the future editions, even more young talented writers will participate, willing to have their books published and sold in bookshops and rented in libraries."

"We conducted a mini survey before launching the competition, and we realised that such initiatives are scarce and generally restrictive - or they impose an age limit, ask for CVs, a list of previously published texts, etc."

We wanted to initiate a competition for all those who write, judged by people who are not affiliated to any publishing house or group, where the sole condition is the statute of the debutant, and the selection criteria is strictly the value of the texts, without paying attention to details such as age, experience or previous successes.

The most important thing is that we succeed in opening up a rather inaccessible road for certain authors. And the success that such a competition can ensure for the winners, doubled by having their works published by a well-known publishing house, is reason enough to continue this project."
(Cristina Guseth, Manager for Catalist)


###

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is a financial institution the culture and art support activities of which mainly focus on the visual arts area, covering music and literature as well, in the spirit of the UniCredit Group tradition.

The bank offers financial support for the first independent art and culture centre, UniCredit Pavilion, and it is a strategic partner for the Bucharest Contemporary Art Biennial. The cultural-artistic component of the bank's ethics and responsibility strategy takes form through its implication in long-term projects, that they finish as a main partner - for instance, The George International Festival and Competition and the UniCredit Literary Debut Competition.

About Catalist

Asociatia Catalist was founded in 2007 and it aims to promote Romanian culture, books in general, as well as future Romanian writers. Catalist's main activities include: developing partnerships with Romanian publishing houses for book reviews, promoting books amongst the public, through the www.bibliofagia.ro site; book reviews, establishing and maintaining partnerships with the local media to promote reviewed books, publishing book reviews in the local media. Other activities include: the literary debut competition launched together with UniCredit Tiriac Bank, to support the writers the works of which were never published in large volumes, serial story novels, published exclusively online, written by five Romanian novelists - a literary experiment involving the public.

About Humanitas

Founded 1990, the Humanitas Publishing House became, in 19 years, a cultural holding reuniting legally independent companies, with strong connections - The Humanitas Publishing House, The Humanitas Fiction Publishing House, The Humanitas Multimedia Publishing House, and the Humanitas Bookshops supplier.

The initial humanist sciences profile of the Humanitas Publishing House is well extended. Today, Humanitas publishes literature, philosophy, religion, social and political sciences, history and memoirs, as well as science books, practical books, art albums, children's books and school books. Over 370 books a year are published which are part of over 50 collections and author series, and the publishing house's portfolio includes the most famous classical, modern and contemporary authors.

UniCredit Tiriac Bank Introduces Green Corner In Its Branches, In Collaboration with Recolamp and ECOTIC

25.11.2009

Bucharest, November 25th, 2009 - Today, UniCredit Tiriac Bank launches, together with the collective associations Recolamp and ECOTIC, the Green Corner Programme, thus becoming the first Romanian bank to offer the public at a large a recycling infrastructure for WEEE (Waste Electrical and Electronic Equipment), including energy saving bulbs and fluorescent strips.

Green Corner recipients have been installed in over 80 UniCredit Tiriac Bank branches, the remaining 165 units having smaller scale devices, which still offer WEEE recycling services. In these branches, people who want to recycle a range of electrical and electronic items, including burnt out light sources, can do so via the “green man” - a trained employee offering support to those interested in recycling.  

"This initiative continues the "The RE Campaign" internal programme, which we launched in May this year, thus taking things to a new level and making this programme available to the community," said Anca Nuta, Identity and Communication Director for UniCredit Tiriac Bank. "It is not our first green project, but it is a large scale one and its most important feature is that is based on involving our customers and anyone who is aware of recycling issues. Through the Green Corner programme, we offer the general public the information and the means to recycle in a civilised and easy manner," Anca Nuta concluded.

"We are expanding the Green Corner National Programme in partnership with a prestigious financial institution and we are happy that we can provide the population with a coherent and viable structure for recycling WEEE," Raul Pop said, Recolamp General Manager. "We wish to thank our partners, UniCredit Tiriac Bank, and to congratulate them for accepting and supporting this campaign together with us and ECOTIC, providing the community with a service that it really needs," Raul Pop added.

For more information on the project and the list of products that can be recycled through Green Corner units within UniCredit Tiriac Bank branches, please go to www.unicredit-tiriac.ro and www.coltverde.ro. By calling TelVerde 0800 888 666 for free, you can find out more about proper electrical and electronic waste management, including energy sources.


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About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 245 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.

About Green Corner

Colt Verde® is a modern and environmentally friendly solution for recycling waste electrical and electronic equipment from the population, including light sources (energy saving bulbs and fluorescent tubes). This collection concept was launched in 2008 by Recolamp and it is being operated in partnership with ECOTIC. The two non-profit collection associations deal with managing waste in order to recycle it safely for the environment and the health of the population. For further details on the complete list of collection points, please go to www.coltverde.ro

UniCredit Group and The Ugo Foscolo Foundation receive applications for a post-university scholarship and for a post-phd scholarship

24.11.2009

November 24th, 2009 - UniCredit Group & The Ugo Foscolo Foundation receive applications for post-graduate study and for a post-PHD scholarship in the 2010-2011 University year. 

The Ugo Foscolo Foundation organised a competition for the first PHD scholarship in memory of Ugo Foscolo, the former president of Banca di Roma*. The scholarship is granted to young talented students of all nationalities (in one of the 22 countries where UniCredit Group operates**), in the fields of economy or finance, who wish to continue their studies through a PHD abroad (with a European University, regardless of the country). The scholarship is granted for the 2010-2011 year, with the possibility of extension for a second year and it totals EUR 25,000 per year (plus tuition fees). The deadline for the subscriptions is December 15th, 2009.

Moreover, the Foundation announces the first competition for one of the Ugo Foscolo scholarships, for the most talented researchers in one of the 22 countries UniCredit Group operates in, who graduated from a faculty in this field, finished (or is about to finish) a finance or economy PHD on a different continent, teach or are involved in a research activity outside the Group and are planning to continue their work in the countries where UniCredit Group is present in Europe. The scholarship is granted for a two-year period, with the possibility of extension for another two years, and the annual sum is EUR 60,000. The deadline for applications is December 31st, 2009.

For further information on eligibility and applications, please visit the Foundation site: www.unicreditanduniversities.eu 


# # #


About The Ugo Foscolo Foundation

The Ugo Foscolo Foundation is a private foundation established by UniCredit Group in March 2009, and it supports academic initiatives in the fields of finances, economy, law and social sciences. The Foundation's main goal is to grant post-graduate and post-PHD scholarships to support the best students.


* Banca di Roma is part of UniCredit following the 2007 merger of UniCredit Group and Capitalia Group.
** UniCredit Group is active in the following European Countries: Austria Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic,  Estonia, Germany, Hungary, Italy, Lithuania, Latvia, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and the Ukraine.

Free Kaspersky Internet Security 2010 for UniCredit Tiriac Bank SME Customers

23.11.2009

Bucharest, 23 November 2009 - UniCredit Tiriac Bank signed an agreement with Kaspersky Lab Romania, through the Punkt NET supplier and in collaboration with MCM Serv, to supply 1,500 Kaspersky Internet Security 2010 licenses. The bank will offer the licenses for free to the first 1,500 SME customers who activate their online payment service.

UniCredit Tiriac Bank is the first Romanian bank to adopt a proactive policy towards protecting their customers against the risks of  online crime, by offering free licenses for a security product.

"Banks are making ongoing efforts to secure their own Online Banking authentication and authorization infrastructure, but, as far as customers are concerned, initiatives were only informative until now," says Teodor Cimpoesu, Managing Director Kaspersky Lab Romania and Bulgaria. The extra step that we recommend to all the banks in Romanian having online banking services is to secure their customer area as well, which is most at risk from attacks," added Cimpoesu.

"The security of the online banking service is comprehensive because user access is only possible through the digipass devise that generates unique access codes, said Doina Costache, Head of Alternative Channels for UniCredit Tiriac Bank. "We took things a little bit further, thinking about what we can do to enhance the security of Internet use at home or in the office. Based on the way this new free facility is received, we will continue to develop the offer for our SME customers as well as for our individual customers," she added.

UniCredit Tiriac Bank and Kaspersky Lab signed a one year agreement, and the licences they offer during this period will be free of charge for the first 1,500 SME customers that request the Business NET online payment product. After the licenses expire, they can renew them for a special price, pre-established by the supplier.

Kaspersky Lab signed a similar partnership in the UK with Barclays, customers benefiting from free licenses when they subscribe to their online banking service. The success of this initiative led to the expansion of the programme internationally as many other banking institutions came to understand the security benefits that they can bring to customers.

Kaspersky Internet Security 2010, the new complete security solution for individual users, integrates a set of innovative technologies, one of which is the Safe Run function, based on Sandbox technology - the only Internet Security programme product that offers this system. Safe Run enables users to run any new software in an isolated environment, protecting the operating system against any type of suspicious activities. According to statistics, the vulnerabilities of the operating systems and of the known applications are often exploited by hackers to attack the applications using the Internet, especially Online Payment facilities.


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About Kaspersky Lab

Kaspersky Lab produces and distributes some of the most popular PC security systems protecting users against viruses, spyware, crimeware, hackers, phishing and spam. The Kaspersky products have a superior detection rate, with the quickest response time in the individual users security industry, SMB, large networks and mobile work systems. The technology developed by Kaspersky is used internationally in the products and services of the top suppliers of security systems on the IT market.

For more information, please visit www.kaspersky.ro, and, for the latest malware related news, you can access the following link www.viruslist.com.

Adequate Risk Appetite Crucial To Gaining The Upper Hand On The Market

12.11.2009

  • The full recovery of banking activities will most probably start in 2011
  • Credit quality remains the main constraint for lending
  • UniCredit Group clearly benefited from its business diversification

According to UniCredit Group analysts, 2010 will bring positive growth to most countries in the region, mainly to those in Central Europe, and the banking business in the CEE region will only see a visible recovery most likely in 2011. "Nevertheless, the growth rate will be lower than the market's long-term potential", said Debora Revoltella, head of CEE Strategic Analysis for UniCredit. "Central European countries like Poland, the Czech Republic or Slovakia show better prospects of recovery. In 2010, South-Eastern Europe and the Baltic countries will still be in recession and will continue to be in need of further rebalancing correction." The Ukraine, Kazakhstan and Russia will see positive growth, but it will take time for them to fully recover and maximize their potential.

UniCredit Group analysts forecast an 8% growth in 2010 in lending at a regional level, following a 5% drop estimated for 2009, with recovering already starting in the corporate loan area. After some correction in 2009 and in the first part of 2010, the loan-deposit ratio is expected to gradually increase. "Rebalancing the loan-deposit ratio will continue and it is already more pronounced in countries with larger gaps in terms of domestic funding, whilst it is less pressing and might even be counterproductive in other countries," added Revoltella.

Revoltella also made reference to the need for diversification in the banking system, towards a more balanced mix of activities. UniCredit Group clearly saw a business diversification, CEE operations representing 12% of the total bank's assets at the end of 2008. Diversification is doubled by good access to financing, at a time in which, apart from an adequate risk appetite, financing possibilities and costs remain the main competitive advantage for the banks in the region. The crisis has accelerated the implementation of cost-efficiency steps all over the world and the CEE banking system is no exception. The artificial growth in the recent years, in terms of network or salary costs, might now be rebalanced. Profitability is likely to stay subdued in the next two years mainly due to the impact of higher provisioning against bad loans, even resulting in loss for the banking system estimated to occur in 2009-2010 in Baltic States like Russia, the Ukraine and Kazakhstan.

All in all, at a regional level, unfocused players might exit the market, and new ones might have new opportunities. The winners will either be new entrants or international players already active in the region, provided their ability to maintain an adequate risk appetite and leverage on their own strength.

Romanian Banks Proved Resistant Against the international crisis

According to UniCredit analysts, the growth potential of the Romanian banking system remains unchanged, and the degree of bank penetration will be maintained, with foreign capital support. Full recovery will take time, and the growth rate will only be more balanced and obvious starting from the second part of 2010.

"The performance of different banks on the same market can vary significantly, as profitability is strongly connected to the quality of a bank's portfolio and to the cost of risks. The following years will be crucial in terms of the bank's strategy reshaping," Revoltella added.

The changing competitive environment gives opportunities to strengthen the banks' positions leveraging on their existing network and on their better access to international funding, provided that the players' risk appetite is adequate.

While the region's market is still stagnant, Romania being no exception, on the deposit segment, evolution was positive in Romania given the increase of savings among the population, which contributed to the rebalancing of the banking system liabilities and to the decrease of the loan/deposit ratio down to 124% in September, with the perspective of an average on the banking system of 116% in the next 5 years.

Although affected by the international credit crisis, Romanian banks remained stable. Profits at the banking system level are estimated to decrease by 90% compared to 2008, but the market remains healthy, with high solvability, (13.7% in September 2009).

Now that the liquidity crisis is over, credit quality remains the key challenge in the following period. Profitability will have to take into account structurally higher costs of risk, but it will benefit from a leaner cost structure.


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About UniCredit Tiriac Bank


UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 245 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

UniCredit Tiriac Bank Records a RON 252mn Net Profit for 9M 2009

11.11.2009

  • Revenues grow 10% year-on-year in 9M 2009 to RON 887mn
  • A net profit of RON 252mn in 9M 2009 is reported, down 9% against the same period of 2008
  • Loan/deposit ratio ends confortable at 111% at the end of September, better than the system
  • Lending cost of risk is 1.3pp, covering available risks

November 11, 2009 - UniCredit Tiriac Bank reports RON 252mn net profit* under IFRS, down 9% compared to the same period of last year. Net profit under RAS for the same period is RON 225mn, up 4% compared to the same period of 2008. The main difference between the net profits is loan loss impairment due to the still existent differences b/n IFRS and the NBR provisioning rules. Profitability level remains very good within the current economic crisis context and the performance of the market: an annualized ROE of 17% and ROA of 1.8%.

The bank continues its upward business performance reporting a 15% year-on-year growth in operating profit to RON 465mn, driven by 10% growth in revenues, but 5% in operating expenses. Revenues are improving in 3Q compared to 2Q by 10%. Cost-to-Income ratio is 47.5%, better than the system, despite the 103 new branches opened in the last 21 months. Solvency ratio is 11.1% under RAS, above the10% norm. UCT continued adopting a prudent risk coverage approach. Provision stock goes up by 47% this year and net provisions through the income statement increase near two-fold for the 9M 2009 compared to the same period of last year.

"We consider our performance as satisfactory in these crisis times, providing for a good capital base and adding value to our customers and shareholders. Our focus now is laid on stability of revenue generation, high liquidity and good capitalisation levels. Awareness of available and potential credit risks and their active management are critical nowadays.", said Rasvan Radu, CEO UniCredit Tiriac Bank. 

"Going successfully through the first phase of the economic and financial crisis in Romania provides evidences of the solid foundations on which the bank’s business has been developing. Thus we succeed in improving our market positions in parallel with futher strengthening our financial situation, covering available risks in prudent way and continuing our development programme.", said Stanislav Georgiev, CFO of the bank. 

The balance sheet total reached RON 19.9bn, up 18% compared to a year ago. Total outstanding loan portfolio, including near EUR 1bn externalized loans with the mother company, is RON 15.7bn, flat compared to the same period of 2008, in line with the overall lending market stagnation. This does not include the increase in the consumer loans granted through the UCT delivery channel and booked on the balance sheet of UCFin, the consumer finance arm in Romania, established late last year. Customer deposits for the same period grew 53% up to RON 10.9bn. Loan-to-deposit ratio at the end of September reached 111%, compared to 163% a year ago. 

Asset quality continued deteriorating in 3Q 2009, similar to the whole Romanian banking system, yet in controlled levels and not jeopardising the profit making capacity of UCT. Annualised cost of risk for the reported 9 months of the year is 134bp, provision coverage of the balance sheet loan portfolio is 4.2% and non-performing loan ratio (over 90-day default) is 4.8%. All non-performing loans are covered with the the set aside credit risk provisions, including off-balance-sheet related ones. 

The bank recently introduced a new leaner organisational structure focused on greater proximity to the customer, fast business decision making, greater efficiency and better management of the whole UniCredit Group business in Romania. The bank ends September 2009 with a distribution network of 245 branches, same as in the middle of the year, and staff of near three thousand people. 

Focal points

In the next 6 to 9 months the credit risk management is a main priority of UCT given the crisis cycle in the country. The bank will continue its prudent approach in covering risks with provisions and activiely managing potential and available risks. This goes along with the policy of holding strong solvency ratio and high liquidity. The active business development of the bank will continue looking for proper measurement and capturing of available opportunities. Service quality and customer care are high on agenda of all managers and employees in the bank, being included on their annual target scorecards. UCT did not discontinue whatsoever its investment program, further developing its governance model, business model, internal controls, organisational structure, service model, infrastructure and operational efficiency.


* All data presented in this document is from the financial statements under IFRS, unless otherwise stated.


# # #


About UniCredit Tiriac Bank


UniCredit Tiriac Bank is part of UniCredit Group, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Tiriac Bank is a true "one-stop-shop" for financial services, currently serving near 500 thousand active customers through its 245 branches. In Romania, the bank is providing a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance (UCFin) and UniCredit Business Partner.

UniCredit Tiriac Bank Replaces the Bank Tellers in the METRO Branches with New Non-Stop Banking Automated Solutions

19.10.2009

Bucharest, October 19, 2009 - UniCredit Tiriac Bank has replaced its bank tellers at its METRO branches with a new Non-Stop automated banking service.

Via the new services, customers can deposit cash in RON, EUR or USD, can withdraw cash, can exchange money, as well as pay bills from Romtelecom, Vodafone, Orange, Enel Energie (Banat/Dobrogea), Allianz Asigurari de Viata, Allianz Asigurari Generale and Boom TV. UniCredit Tiriac Bank customers can also start RON, EUR or USD term deposits and also pay Rometelecom and Vodafone bills in cash. The online banking service can be directly accessed from the options available on the Non-Stop Banking machine screen. Up to the end of October, a scanning payment order facility is also available.

"We know that time is important to all of our customers, and this is why we thought of meeting their needs through installing the new Non-Stop Banking automated service machines in a busy commercial network such as METRO," says Bogdan Spuza, Marketing Manager for UniCredit Tiriac Bank. "This facilitates automated access to a wide range of banking operations that customers can conduct on their own, anytime they wish. Now, all essential banking operations can be carried out while doing the weekly shopping."

Through Online Banking, customers can view the status of their current loans and deposits as well as extend the term duration of their deposits.  On Online Banking subscription applications made to METRO branches, nationwide, up to 31 December 2009, the bank is offering a smaller fee on the Digipass device guarantee, of EUR 12, representing 40% less than usual.

Our banking customers have access to the Non-Stop Banking service by using their UniCredit Tiriac Bank cards or the barcode issued by any of the 24 METRO agencies at any of the 28 METRO bank branches throughout the country.

# # #

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 245 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.

Unicredit Tiriac Bank Launches The Champions Package And Loan 11 - Banking Stars Of The Football Season

14.10.2009

Bucharest, October 14, 2009 - UniCredit Tiriac Bank launches its special product "The Champions Package", the "Loan 11" promotion, and the "UEFA Champions League Child Stars" campaign, within the UEFA Champions League partnership.

For one week, UniCredit Tiriac Bank hosted the UEFA Champions League Trophy Tour in 6 cities in the country, the biggest event being held in Piata Consitutiei, Bucharest. The bank's tour de force gave 20,000 Romanians the unique opportunity to see the UEFA Champions League Trophy at home.

Keeping alive the thrill of the game, the sense of high-level competition and champion spirit, UniCredit Tiriac Bank has launched today three star-projects for the football season: "The Champions Package", the "Loan 11" promotion and the "UEFA Champions League Child Stars" campaign.

The Champions Package comes in two versions, Standard and Optimum, they are available as a  limited edition and offer chip-pin MasterCard debit and credit cards with an unique UEFA Champions League design. Apart from the cards' special look, the customers have free access to the Online B@nking service, the banking phone service, to the SMS Info option; therefore, they can choose from the options that best suit them.  Also, they will receive prizes for purchasing any of the Champions Package products.

"UniCredit is honoured to be the official sponsor of UEFA Champions League in the three forthcoming football seasons and we wish to share this extraordinary experience with our customers," said Bogdan Spuza, Segment Marketing Manager for UniCredit Tiriac Bank. „We are hoping that our customers can also enjoy the product packages that we have launched, the special presentation cards and the benefits they offer."

In the same competitive spirit, UniCredit Consumer Financing launches today, in the UniCredit Tiriac Bank branches, the Loan 11 promotion, which is looking for the "winning 11". Between 12 October 2009 and 31 December 2009, all customers purchasing a Loan for Anything will get two of their monthly payments paid for by the bank. From these, 11 winning customers will be drawn and they will have the balance of their outstanding loan paid in full by the bank, as soon as they are declared winners. 

"One of our priorities is to be as close to our customers as possible. We wanted to use this opportunity to bring part of the thrill of competitive football into the banking field as well, by launching the Loan 11 promotional campaign, added Gauthier van Weddingen, UniCredit Consumer Financing IFN S.A. CEO. "I wish good luck to all our customers and I hope to meet the lucky 11 winners as soon as possible."

The new UniCredit Tiriac Bank offers for our customers do not stop here - between 12 October and 15 November, the "UEFA Champions League Child Stars" campaign will be active. Through this campaign, children of our bank customers might have the opportunity to accompany star players onto the pitch, in the last UEFA Champions League match taking place in Romania, on November, 24.

More information is available on www.unicredittiriac.ro or by phone, at our UniCredit Tiriac Bank Call Center, on: +40 21 200 2020.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 245 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.

About UniCredit Consumer Financing

UniCredit Consumer Financing IFN S.A. is the Romanian branch of UniCredit Family Financing Bank S.p.a, a bank that is part of UniCredit Group, specialised in offering loans to families. Active in Italy, Germany, Bulgaria, Poland, Russia, and, since 2008, in Romania as well, this financial company has approximately 3,900,000 individual customers in Romania.

UniCredit Group Brings the UEFA Champions League Trophy to Bucharest

02.10.2009

  • The UEFA Champions League Trophy will be exhibited in Bucharest, in Piata Constitutiei, from today until Sunday, October 4th, enabling the public to feel the excitement of the most prestigious club football competition in the world
  • The legendary goalkeeper Helmut Duckadam, as the official UEFA Champions League Ambassador, has honored with his presence the Trophy Tour in Romania

Bucharest, October 2, 2009 - The UEFA Champions League Trophy Tour presented by UniCredit completes its Romanian route, by stopping today in Piata Constitutiei, in the heart of Bucharest, where the Trophy will remain on display for the public for two more days.

From today through the 4th of October, the Bucharest public will have access to the Trophy Tour Village, a stimulating exhibition space that re-creates the atmosphere of the most prestigious club football competition, featuring the silver UEFA Champions League Trophy and some unique football memorabilia. Visitors will also have the opportunity to take part in competitions and win prizes. Football fans might even have a chance to meet with the UEFA Champions League Ambassador for the Trophy Tour in Romania - Helmut Duckadam, the world famous goalkeeper, who is listed in the Guinness Book of Records for his four consecutive penalty-shootout saves in the 1986 European Champions Clubs’ cup final against Seville. 

The UEFA Champions League Trophy Tour started on September 16th in Milan, went through Zagreb and entered Arad, Romania on September 28, in a four-tone safe glass protective case carried by a "trophy-truck": It traveled through Timisoara and Sibiu on the 29th of September, Brasov on the 30th of September and Pitesti on the 1st of October, before reaching Bucharest.  

Representatives of UEFA, UniCredit and the international football celebrity Helmut Duckadam attended the press conference to launch the event this morning in Piata Constitutiei, in the Trophy Tour Village.
 
Rasvan Radu, CEO UniCredit tiriac Bank, said: "As part of the three year sponsorship of the UEFA Champions League, UniCredit is honoured to be able to offer to every Romanian a chance to see this symbol of victory up close. With a week stay in our country and six cities involved in the tour, Romanians will surely benefit a lot from the 2009 leg of the UEFA Champions League Trophy Tour". 

Helmut Duckadam, Ambassador of the UEFA Champions League Trophy Tour pointed out: "This is the first time after 23 years that I have the privilege to hold the UEFA Champions League Trophy, after the victory in Seville. It is an exceptional moment for myself and hopefully for many Romanians too."

Philippe Le Floc’h, UEFA Marketing Director, added: " With the help of UniCredit and its strong presence in Central and Eastern Europe, the UEFA Champions League will continue to expand its brand in the region, and the UEFA Trophy Tour is a key initiative in this direction", Mr. Le Floc’h feels the partnership is mutually beneficial, "We are also confident that the UEFA Champions League, as a leading sporting competition, will assist UniCredit to develop and enhance its brand awareness and identity."

As part of the CSR initiatives around the UEFA Champions League Trophy Tour, in all six cities UniCredit Tiriac Bank donated a total of more than 250 sports equipments to children football teams in local schools.

After Bucharest, the UEFA Champions League Trophy Tour will also visit Budapest (Hungary) from the 10th to 11th of October, before finishing its journey in Sofia (Bulgaria) from the 17th to the 18th of October.  A second group of countries will be visited in 2010 and a third group in 2011. 

The 7,000 km Trophy Tour represents one of the main initiatives of UniCredit Group’s three year sponsorship of the UEFA Champions League, a strategic undertaking which will enable UniCredit Group to increase its visibility as a European banking group with strong and deep roots in 22 countries. Through the UEFA Champions League sponsorship, UniCredit Group will also develop, in partnership with local communities in countries where it is present, a series of social initiatives.

UniCredit Group brings the UEFA Champions League Trophy to Milan

16.09.2009

  • The UEFA Champions League Trophy Tour was kicked-off today in Milan, during an official ceremony that marked the beginning of UniCredit Group's three year sponsorship of the UEFA Champions League.
  • For four days the Trophy will be exhibited in Piazza Duomo, enabling the public to experience the excitement of the UEFA Champions League atmosphere.
  • After Milan, the UEFA Champions League Trophy Tour presented by UniCredit Group will continue its journey into other European countries.

Milan, 16 September 2009  - Today UniCredit Group inaugurated its three year sponsorship of the UEFA Champions League by hosting the UEFA Champions League Trophy Tour in Milan, a glamorous event that enables football fans and the general public to see the trophy, and feel the excitement of the most prestigious club football competition. 

From today through September 20th, Piazza Duomo, in the historical heart of the city, will provide the setting for the Trophy Tour Village. It will house an array of attractions, free of charge, to explore the iconic world of the UEFA Champions League.  

Passing through the “players' tunnel”, visitors will enter a stimulating exhibition space comprising photos, videos and multi-media effects that bring to life the great contests, goals and historic moments of the tournament. A “Wall of fame” is dedicated to the greatest ever champions of the European Cup and its successor, the UEFA Champions League, while big screens also recall magic moments of the prestigious tournament.  

Representatives of UniCredit Group, UEFA and the City of Milan, as well as international football celebrities like Luís Figo and Franco Baresi, attended a press conference to launch the event this morning in Piazza Duomo, in the venue that will host the UEFA Champions League Trophy Tour. 

Paolo Fiorentino, Deputy CEO of UniCredit Group, pointed out that "thanks to UniCredit the Trophy is on display to the Milanese public for the first time since the 2001 Final. Everyone will be able to be near the trophy and experience the excitement of this great event first-hand, an event that unites not only football fans but sports enthusiasts from all countries. The sponsorship of the UEFA Champions League, he explained, “represents a major step in developing our brand across Europe because, thanks to its global impact, UniCredit will gain significant and long-term visibility and brand awareness.” 

Rob Faulkner, UEFA Head of Communications, added: “ With the help of UniCredit and its strong presence in Europe, particularly in Central and Eastern Europe, the UEFA Champions League will continue to expand its brand in the region, and the UEFA Trophy Tour is a key initiative in this direction”, Mr. Faulkner feels the partnership is mutually beneficial, “We are also confident that the UEFA Champions League, as a leading sporting competition, will assist UniCredit to develop and enhance its brand awareness and identity." 

Alan Rizzi, Sports councillor of the municipality of Milan, said: “It is a great honour for our city to host the UEFA Champions League Trophy Tour and we are delighted that UniCredit and UEFA have chosen Milan, which was this year awarded also as European Capital of Sport, for the kick-start event. Our commitment towards great sporting events will not stop here, as we hope to host the final of the Champions League in the Meazza stadium in the future.”  

The UEFA Champions League Trophy Tour will also visit Zagreb (Croatia) from the 25th to 26th of September, Bucharest (Romania) from the 3rd to the 4th of October, Budapest (Hungary) from the 10th to 11th of October, before concluding in Sofia (Bulgaria) from the 17th to the 18th of October. A second group of countries will be visited in 2010 and a third group in 2011.  

The Tour represents one of the main initiatives of UniCredit's three year sponsorship of the UEFA Champions League, a strategic undertaking which will enable UniCredit to increase its visibility as a European banking group with strong and deep roots in 22 countries. Through the UEFA Champions League sponsorship, UniCredit will also develop, in partnership with local communities in countries where it is present, a series of social initiatives that will strengthen the sense of belonging to the Group for all of its employees. 


#######
 

About UniCredit

UniCredit is a major international financial institution with strong roots in 22 European countries as well as representative offices in 27 other markets, with approximately 10,000 branches, over 168,000 employees at 30 June 2009.

In the CEE region, UniCredit operates the largest international banking network with over 4,000 branches and outlets.  

The Group operates in the following countries: Austria Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Germany, Hungary,  Italy, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

UniCredit Launches Micro-site For Football Fans, Dedicated to The UEFA Champions League

27.08.2009

  • More information on the UEFA Champions League trophy tour is available on the new micro-site dedicated to the biggest European inter-club football competition
  • The UEFA trophy will stop in 6 Romanian cities between September 28 and October 4, 2009

Bucharest, August 27, 2009 - UniCredit Group, official partner of UEFA Champions League, aims to please football fans by launching a micro-site dedicated to the biggest European inter-club competition.
The micro-site can be accessed through the special UEFA Champions League icon, straight from the www.unicredit-tiriac.ro website.


Available in 7 official languages, including Romanian, the micro-site contains competition-related results and news, updated in real time. Apart from being a relevant source of information for football fans, the micro-site gives all the details on the UniCredit Group - UEFA Champions League partnership as well as on its first stage, called Trophy Tour.

Trophy Tour was launched by UniCredit Group to offer UEFA fans and everybody else the chance to see in their own country the trophy that every football player dreams of holding at least once in their career.

The Trophy Tour truck will carry the UEFA Champions League cup through five representative European countries: Italy - Milan (September, 16-20), Croatia - Zagreb (September, 25-26), Romania - Bucharest (October, 3-4), Hungary - Budapest (October, 10-11) and Bulgaria - Sofia (October, 17-18).

Romania is the only country where the trophy will travel through 6 cities: Arad (September, 28), Timisoara and Sibiu (September, 29), Brasov (September, 30), Pitesti (October, 1) and Bucharest (October, 3-4).


"UniCredit Tiriac Bank gives Romanians the unique chance to admire the UEFA trophy in their own cities and to get into the lively atmosphere of the most important football competition in Europe,", says Anca Nuta, Ad-interim Identity & Communication Director for UniCredit Tiriac Bank.


For more information on the UEFA Champions League trophy itinerary, please go to our new micro-site dedicated to the biggest inter-club football competition.


On 1st July 2009, UniCredit Group became an official sponsor of UEFA Champions League for the next three seasons (2009-2012). This partnership represents the association of a banking group with a European tradition and the most relevant European football organisation.

# # #
 

About UniCredit Group

UniCredit Group is one of the strongest European financial groups, active in 22 European countries and being represented on 27 other markets, with a total number of over 40 million customers, over 10,200 branches and approximately 174,000 employees at the end of 2008.


In the CEE region, the Group owns the largest international banking network, with over 3,400 branches, where approximately 78,000 employees serve more than 28 million customers.


The Group operates in the following CEE countries: Azerbaijan, Bosnia Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Kazakhstan, Kurdistan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and the Ukraine.

UniCredit Group's CEE Banking Study 2009: Banking in CEE - challenging times but recovery on the horizon

10.08.2009

  • Prospects for a recovery of world growth to boost CEE, but economic growth remains below potential
  • International financial markets are now out of a “liquidity-crisis mood” – credit quality is the main constrain for lending
  • Long term prospects of CEE banking remain untouched

10 August 2009 - “The international financial crisis has dominated the banking market for some time now, leaving its mark on the sector. All Central and Eastern European banking players have been affected in terms of liquidity, cost of funding and credit quality, but the appeal of CEE banking is still there”, says Debora Revoltella, Head of Strategic Analysis for CEE of UniCredit Group, referring to the recent banking study by UniCredit Group. Some positive signals start to materialize, giving hope for a recovery of world growth, which will boost the recovery of Central and Eastern Europe (CEE) as well. Following the significant reduction of economic activity in 2009, the economists of the Group forecast a slow regional growth of 1.1 % for 2010, which is a positive sign, but remains below the potential of the CEE region. Strong regional differentiation is confirmed, with Central European countries and Turkey better prepared to quickly catch the international recovery.

The entire regional CEE banking sector consists of 2,455 banks, with total assets of more than EUR 2,100 billion. The ranking of the top banks in CEE is led by UniCredit Group, operating through Bank Austria in CEE* , with total assets of EUR 121.6 billion and a net profit after taxes (before minority interest) of EUR 2,577 million in 2008. With 12% of its Group assets in CEE, UniCredit is also a well diversified player. Raiffeisen ranks second in terms of size in the region, with total assets of EUR 85.4 billion and net profit after taxes (before minority interest) of EUR 1,078 million. Erste Bank is in third place, with total assets of EUR 79.3 billion but with its net profit after taxes (before minority interest) of EUR 1,569 million in second place. 

Banking growth will continue on a sounder base

International financial institutions are actively supporting the market to help facing the crisis. IMF, EBRD, World Bank and EIB are jointly acting, together with the EU. International banks active in CEE have been confirming their intention to stay in the region. The IMF has even been securing the firm commitment of the international banks to single markets (as part of the IMF support packages to the countries) by getting them to sign a bilateral agreement with the local central banks to keep their exposure and to eventually recapitalize their subsidiaries over the next years. 

Today, markets are out from a “liquidity-crisis mood” and, especially for those banks featuring foreign ownership, liquidity is not the key issue. “Now credit quality and risks are the constraints for the CEE banking sector”, so Revoltella. “2009 and 2010 will remain challenging, but the long term prospects of the region remain untouched.” The gaps in terms of banking penetration and the promise of fast income convergence are still given. Financial penetration will continue in CEE, even if with a more moderate pace of growth. Recovery on the lending side will start from the corporate sector, but a significant gap in terms of banking penetration is still very much clear in retail, as concerns the mortgage component. The availability of funding on domestic or external level will remain one of the main drivers for growth.

Performance of market players differs as the competitive environment changes 


The crisis has accelerated the implementation of cost-efficiency measures all over the world and CEE banking is not an exception. Some bubbles of the last years, in terms of network or salary costs, might now be rebalanced. With revenues’ growth decelerating but still sound and effective cost-efficiency measures in place, credit quality will be the main constraint for banking profitability. Important to note, today’s quality of the credit portfolio is the key discriminating factor among banks - performance of the banks in the same market might thus widely differ.

The changing competitive environment also offers opportunities. International banks active in the region – especially the top players - might strengthen their position, leveraging on their existing network and on their better access to international funding, providing the risk appetite is adequate. In some countries, the crisis is leading to a resurgence of state power in the local banking sector. New entrants could take opportunities, while unfocused players might exit the market. This however does not affect the committed top international players, where no big changes are to be expected. All in all, we expect the winners to be either new entrants or international players already active in the region, provided their ability to show adequate risk appetite and to leverage on strong funding position.
 

* and through Bank Pekao in Poland

UniCredit Tiriac Bank Records Growth in 1H 2009 Net Profit

05.08.2009

  • A net profit* of RON 181mn in 1H 2009 reported, up 2% compared to 1H 2008, in a recession environment
  • Deleveraging, with loan/deposit ratio down to 111%
  • UniCredit Tiriac Bank considers lending reactivation critical for the economy and banking sector and will draw attention in this direction yet in a strictly controlled risk framework

Bucharest, 5th of August 2009 - UniCredit Tiriac Bank reports 181mn RON net profit, a 2% annual growth under IFRS. Net profit under RAS for the same period is RON 126mn, at the same level as last year. The main difference between the net profits is loan loss impairment due to the differences b/n IFRS and the NBR provisioning rules. The bank considers this a very good result within the context of the ongoing economic and financial crisis, sharp reduction of economic activity, industrial production, sales and customer demand, and increased credit risks. Profitability level remains high: ROE is 18.8% and ROA 1.9%.
 

Operating profit is up 27% year-on-year to RON 316mn, driven by 18% growth in revenues, but only 9% in operating expenses. Revenues, although somewhat impacted by the price of deleveraging and reduced customer demand, remain at a very good sustainable level. Cost-to-Income ratio is 47%, better than the system, despite the 103 new branches opened in the last 18 months. A series of cost optimization actions were undertaken this year, without any negative impact on business and service quality whatsoever. Solvency ratio stays above 10% under statutory standards and liquidity level is more than comfortable. 

“It is important to be preemtive and to react fast in crisis times, balancing amongst various priorities. We were focused on raising our liquidity and deleveraging our business, while at the same time continued lending and providing for a stable profitability level. This will allow us passing intact through the economic turmoil. Active risk management and control is fundamental nowadays for keeping and even growing business, supporting customers in lean times”, said Rasvan Radu, CEO UniCredit Tiriac Bank. 

“Nowadays awareness, strong financials and holistic approach on business management are critical factors for survival of corporate entities but also utilization of a plenty of available opportunities. No doubt, profitability levels in the banking industry will go down, but acting appropriately and investing in the future in a difficult environment is the only rational approach for success and business longevity”, said Stanislav Georgiev, CFO of the bank. 

The balance sheet total reached RON 19.5bn, up 27% compared to a year ago. Total outstanding loan portfolio, including EUR 1bn externalized loans with the mother company, rose 16% year-on-year to RON 16.2bn. Customer deposits for the same period grew 66% up to RON 10.9bn. Loan-to-deposit ratio at the end of June reached 111%, compared to 145% at the end of 2008. 

Asset quality deteriorated in 1H 2009, similar to the globe banking industry and the Romanian banking system, yet in controlled levels and far from jeopardising the profit making capacity of UCT. Net operating profit for the 6-month period covers 3.2 times the respective risk cost. Annualised cost of risk is 114bp, provision coverage of the balance sheet loan portfolio 3.24% and Non-performing loan ratio 3.96%.  

The bank ends June 2009 with a distribution network of 245 branches (3 new branches opened in 1H 2009), and staff of 3,101 people.

Focal points

UniCredit Tiriac Bank considers lending reactivation nowadays critical for the economy and banking sector and will draw its attention in this direction yet in a strictly controlled risk framework. Strong solvency ratio, high liquidity maintenance and adequate risk management will be of high priority in the crisis times providing for financial strength and proper business management that will provide cushion against potential further external shocks but also supporting customers and economy in crisis times. The management of the bank will carefully watch the developments of the global economy and the evolution of the crisis in Romania and will continue making fast decisions in getting compliant to new requirements and making use of all available opportunities to create value for customers and shareholders, and improving its market positioning. The bank continues realizing its intensive investment program, further developing its governance model, organizational structure, service model, infrastructure and operational efficiency.


About UniCredit Tiriac Bank

UniCredit Ţiriac Bank is part of UniCredit Group, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Ţiriac Bank is a true "one-stop-shop" for financial services, currently serving near 600 thousand customers through its 245 branches. In Romania, the bank is providing a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, UniCredit CA-IB Securities Romania, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.


* All data presented in this document is from the financial statements under IFRS, unless otherwise stated.

UniCredit Tiriac Bank Improves Offer For Consumer Loans

13.07.2009

  • Zero granting fee for consumer loans without mortgage up to September 15
  • Up to 3% lower interest rate for consumer loans with mortgage granted in RON
  • The bank reimburses 1% of the POS transaction value to customers that obtain a personal loan and a credit card at the same time

Bucharest 13 July 2009 - UniCredit Tiriac Bank continues to facilitate individuals access to obtaining a loan by eliminating the granting fee for personal loans without mortgage* , for applications submitted by September 15.
 

The elimination of the granting fee (3.5% - 4% of the requested amount) for personal loans without mortgage represents a discount of RON 1,700 of the total payable amount for an average loan** . In order to ease access to loans, at the beginning of July, the bank decreased the variable interest rates for personal loans without a mortgage by up to 4.8%, simplified the granting procedure as well as the paperwork necessary for contracting a loan, in a risk framework that is in line with the legislation in force. Customers have the possibility to opt, in the case of consumer loans without mortgage, for making an insurance policy according to which the insurer can take over the instalment payments in case of unemployment or incapacity to work.
 

“Our priority is to improve and simplify internal procedures, in order to make consumer loans more accessible to individuals from the point of view of the paperwork as well. On the other hand, the loan risk management is paramount in our approach, so we want to make sure that the loan rules are in perfect agreement with the present macroeconomical environment," said Gauthier van Weddingen, CEO of UniCredit Consumer Financing IFN S.A.
 

Moreover, UniCredit Tiriac Bank decreased interest rates by up to 3% on consumer loans with mortgage which allow loans of up to EUR 125,000 (or equivalent in RON/USD) for maximum 25 years, the minimum monthly income being RON 750.
 

Individual customers who contract a consumer loan and a credit card simultaneously recover 1% of the value of the POS card transactions made over the year, and this money will be used to pay the monthly instalments for the loan. The offer is valid for customers who have both products available and active on an annual basis, the payment being paid upon the anniversary of the loans start date. On that date, 1% of the value of their POS transactions made in Romania and abroad will be transferred into their account.



Consumer Loan without
Mortgage

Period

Value

Fixed interest
rates

Varible interest rates

DAE*** (in accordance 
with Robor 
and Euribor)

RON

EUR

RON

EUR

RON

EUR

Expres

6 months - 5 years

500 - 3.500 EUR

20,50%

23%

Standard

6 months - 7 years

3.500 - 8.000 EUR

18%

20.50%

15.20%

18.65%

25.07%

20.,32%

Special

6 months - 10 years

8.000 - 20.000 EUR

17%

18.50%

14.20%

16.65%

23.37%

17.98%

Refinancing

6 months - 10 years

Up to 20.000 EUR

18%

19.50%

15.20%

18.15%

24.44%

19.73%


Consumer Loan with Mortgage

Period

Value

Variable interest rates

DAE**** (in accordance with Robor 
and Euribor)

RON

EUR

RON

EUR

Personal Plus

1 year – 20 years

5000 - 30.000 EUR

15.48%

9.84%

17.38%

10.80%

1 year – 25 years

over 30.000 EUR


* Consumer loans without guarantee are offered by UniCredit Consumer Financing through the bank network.
** Example calculated for Loan for Anything Refinancing for 10 years, with an average value of RON 30,000 and a fixed interest rate
*** DAE calculated for variable interest rate, for the maximum period and amount granted for each product type, without granting fee, in accordance with the offer valid up to 15 September
**** DAE calculated for variable interest rate, for the maximum loan interval and amount

# # #

About UniCredit Consumer Financing

UniCredit Consumer Financing is the Romanian subsidiary of UniCredit Family Financing Bank, a bank that is part of UniCredit Group, specialised in offering loan solutions for families. Active in Italy, Germany, Bulgaria, Poland, Russia and, since 2008, in Romania, this financial company provides services for over 3,874,000 individual customers.
 

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 245 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.

UniCredit Tiriac Bank Starts Issuing Chip Cards

02.07.2009

Bucharest, 2 July 2009 - UniCredit Tiriac Bank introduced chip card technology for ten types of debit and credit cards in its portfolio.

The new technology will facilitate the registration of more data than that available on the magnetic strip and it will enable online and offline authentications at the POS. The cards are issued in accordance with the EMV (Europay MasterCard Visa) standard and will be used by reading the chip as well as the magnetic strip, if the chip technology is not accepted yet.

“Compared to the traditional magnetic strip cards, the intelligent cards provide advantages like security and functionality," said Cristian Bejan, Head of the Cards Department for UniCredit Tiriac Bank. "Transactions are better protected, being processed with the dynamic authentication of the card. Furthermore, the data that is securely stored on the chip is practically impossible to copy or modify."

UniCredit Tiriac Bank ATMs have been accepting chip cards since March 2008, and the migration of POS to chip card acceptance is now being perfected.

The bank issues chip cards for the largest part of its portfolio: MasterCard Standard Credit, MasterCard Gold Credit, MasterCard Business Credit, MasterCard Standard Debit, MasterCard Gold Private, MasterCard Gold Business, Visa Classic, Visa Gold Private, Visa Business, Visa Gold Business, and, by the end of 2009, all cards in the offer will have an integrated chip.


# # #

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 245 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.

UniCredit Group and University of Bologna announce the second edition of the Retail Banking MBA, a program dedicated to future successful leaders

02.07.2009

  • 20 scholarships of EUR 10,000 - 25,000 to be offered to the best candidates

Bucharest, July 2, 2009 - UniCredit Group, one of the major financial institutions in Europe and Alma Mater Graduate School of the University of Bologna announce the second edition of the International Retail Banking Master of Business Administration (MBA), due to start in October 2009. Aplications can be submitted by August 15th. 

The program is the only MBA in the global educational landscape which has a focus on financial industry and retail, aiming at training new leaders in the field. Last year, 22 students coming from Austria, Bulgaria, Hungary, Indonesia, Italy, Mexico, Poland, Romania, Russia, Serbia and Ukraine had the opportunity to attend courses conducted in this program which promotes a leadership model based on the values and on the capacity to motivate and involve the others in achieving objectives.

The post-graduate program is open to young talents around the world who wish to pursue a successful career in the Retail sector, whether in a bank or elsewhere in the financial industry. The ideal candidates should be aged between 25 and 32, have a university degree and have worked in a company from a minimum of 3 to a maximum of 5 years, not necessarily in the retail banking field. An excellent knowledge of English is required. 

Courses will start October 2009 and will cover areas such as General Management, Finance & Banking and Service & Retail Management. Career Development is the part of the UniCredit MBA dedicated to improving professional and interpersonal attitudes. Classes are also complemented by a three-month apprenticeship in the Retail Division of UniCredit in one of the countries where the Group is present. 

The participation fee is EUR 25,000. The best 20 candidates admitted in the program will be offered scholarships of EUR 10,000 - 25,000. Candidates will also be facilitated access to loans of up to EUR 35,000 each to cover the total cost of the Master and a sum of 10,000 Euro to pay for personal expenses during the academic year. 

You may obtain more information about the selection process here

http://www.almaweb.unibo.it/eng/home_unicreditmba.html
 

About UniCredit Group

UniCredit is a major international financial institution with strong roots in 22 European countries as well as representative offices in 27 other markets more than 10,200 branches and approximately 174,000 employees at 31 December 2008. 

In the CEE region, UniCredit operates the largest international banking network with over 4,000 branches and outlets.

The Group operates in the following CEE countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

UniCredit starts a three year sponsorship of the UEFA Champions League

01.07.2009

Starting from today, July 1st, UniCredit becomes an official sponsor of the UEFA Champions League for the next three seasons (2009-2012), initiating an exciting journey to position its brand at the top - in Europe and the world - in terms of visibility and awareness. 

The UEFA Champions League is the most popular international football competition at club level and is followed with passion by one out of two European citizens. 

As the sole banking sponsor of the UEFA Champions League, UniCredit will enhance, thanks to the partnership, its visibility as a European banking group, with a strong franchise and deep local roots in 22 countries. 

"UniCredit’s sponsorship of the UEFA Champions League represents a major step in developing our brand all across Europe", said Paolo Fiorentino, Deputy CEO of UniCredit. "The Group has already a good track record in sponsoring major sporting events, but the UEFA Champions League, with its global impact, provides us with a  premium platform for a sustainable and long term growth of our brand awareness".  

"I am delighted that UniCredit is becoming an official partner of the UEFA Champions League for 2009 to 2012," said UEFA general secretary David Taylor. "UniCredit is a leading bank in Europe and their presence and strength in Europe, particularly in Eastern Europe, will help further establish the UEFA Champions League brand in these markets. We are confident that the UEFA Champions League, as a premier sporting event, will assist UniCredit in building and enhancing their brand awareness and identity."

Moreover, through the UEFA Champions League sponsorship, UniCredit will develop, in partnership with local communities in the countries where it is present, a series of social initiatives that will strengthen the sense of belonging of all its employees. 

The program will focus, as a start, on two initiatives: a launch campaign in most of the countries where the Group has core activities, and the UEFA Champions League Trophy Tour presented by UniCredit, that will enable football fans and citizens alike to get close to the Trophy and to participate in big events. 

Starting in Milan from 16th to 20th September 2009, the UEFA Champions League Trophy Tour will visit: Zagreb (Croatia) on September 25th-26th, Bucharest (Romania) on October 3rd-4th, Budapest (Hungary) on October 10th-11th and Sofia (Bulgaria) on October 17th-18th. A second group of countries will be visited in 2010 and a third one in 2011.  

The sponsorship will be accompanied by a dedicated UniCredit micro website, which will be launched at the end of July, featuring all the relevant information as well as coverage of the UEFA Champions League Trophy Tour.

The Ministry of Economy and UniCredit Tiriac Bank Sign a Memorandum of Agreement to Launch Energy Investment Projects

17.06.2009

Bucharest, 17 June 2009 - The Ministry of Economy and UniCredit Tiriac Bank signed a memorandum of agreement which creates the co-operation background necessary to attract financial resources to launch some major investment projects in the energy field.
 

The document was signed at the Ministry of Economy headquarters by Mr. Adriean Videanu, Minister of Economy, and by Mr. Rasvan Radu, Executive President of UniCredit Tiriac Bank.
 

The signing of this Memorandum of Agreement between the two institutions is part of the measures taken by the Ministry of Economy to attract foreign investments to cover the necessary funds for the public investments projects in the energy field, which can ensure a growth in economy on medium term. "The Ministry of Economy is planning to do a unitary administration of the strategic projects of the subordinate companies. Given the present economic crisis and the restrictive financial situation, we are planning to consolidate our priorities and develop synergies with the financial institutions, in order to guarantee flexible financing solutions," said the Minister of Economy, Adriean Videanu.
 

"The co-operation between UniCredit Tiriac Bank and The Ministry of Economy will contribute to stimulate the investments in the energy field and to define strategic infrastructure projects in this field," said Mr. Rasvan Radu, Executive President of UniCredit Tiriac Bank. "Just the same as the resort authorities, we are still interested in supporting a sustainable macroeconomic growth of Romania on long term, given the national and global economical background."
 

The Ministry of Economy signed similar agreements to support strategic investment projects in the field with The Romanian Commercial Bank/ Erste Group Bank and BRD-Groupe Societe Generale in March and April this year. 
 


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 242 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.

UniCredit Tiriac Bank launches financing solutiona for projects benefiting from non-reimbursable european funds

16.06.2009

Bucharest, 16 June 2009 - UniCredit Tiriac Bank launched a full range of financing solutions dedicated to projects benefiting from non-reimbursable European funds. The products will contribute to the absorption of the structural funds to the public as well as the private environment.
 

The bank provides beneficiaries with a bank guarantee letter for the down payment, the bridge loan, the investment loan and the short-term facility. 
 

At the initial implementation stage, bank customers will be able to access European funds through the 121, 123, 312, 313 options within the National Programme supporting investments in Agriculture and Rural Development for the 2007-2013 interval. 
 

Some of the projects that may now benefit from non-reimbursable funds include the upgrade of agricultural farms (agrarian as well as livestock), those dealing with the agro-alimentary processing industry and light industry, craftsmanship activities, services for the rural population, supporting rural tourism, etc. The programme is financed by the European Agricultural Fund for Rural Development and by funds from the state budget.
 

"Getting into the structural tools area represents for the bank an opportunity to contribute to the absorption of the European Funds, which is a priority objective nationwide," said Rasvan Radu, Chief Executive Officer of UniCredit Tiriac Bank. "By the end of the year, we will introduce products dedicated to projects which are part of the Sector Operational Programme Increase of Economic Competitiveness, which supports the improvement of energy efficiency, including the production of renewable energy sources."
 

The bank guarantee letter is necessary to obtain the down-payment from the authorities. The value of the letter can cover 100% or 110% of the down-payment, based on the operational programme* which the project is part of.
 

The maximum period of implementation for a project is 24 to 36 months, based on the Programme, Measure, Major Intervention Area, Operation and project particularity. Thus, bridge loans ensure the necessary sum up to the moment the non-reimbursable funds are cashed in, and covers up to 100% of the non-reimbursable financing, in order to reimburse the bridge loan. UniCredit Tiriac Bank can grant, based on the project, a grace period of up to 120 days after it is finalised.
 

Of the total costs of a project, the beneficiary has to cover the entire co-financing of the eligible expenses, as well as the non-eligible expenses**. The investment loan may be granted separately or at the same time as the bridge loan and aims for the co-financing of the eligible expenses, the co-financing project being able to reach up to 75% of those expenses.

The short-term facility ensures, apart from the other financing solutions, the necessary funds for the project acquisitions, mainly the paying of VAT, which is considered a non-eligible expense.
 

UniCredit Tiriac Bank also offers customers treasury products aimed at covering the exchange risk resulting from the exchange differences which can occur in various stages of implementation of the project.
 

The bank can take over applications for co-financing projects benefiting from non-reimbursable funds before the project application, to identify the best banking products and to elaborate a particularised financing structure which can be used in estimating the cash flow from the project documentation, as well as after the approval of the project and the signing of the contract with the authorities, in order to approve the updated financing structure for the implementation interval.
 

At the European Union level, the 2007-2013 period foresees, through structural instruments, a total community support for Romania of approximately EUR 27.5 billion. Structural instruments are represented by five European Funds: EFDR (The European Fund for Rural Development), ESF (The European Social Fund), CF (The Cohesion Fund), EAFRD (The European Agricultural Fund for Rural Development) and EFF (European Fisheries Fund). To these sums, approximately EUR 6 billion will be added from the national budget.
 

# # #

 

About UniCredit Tiriac Bank
 

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and over 242 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.

 

* To access non-reimbursable European funds, a few Operational Programmes have been set up, documents based on which the operational programming and efficient implementation of Structural Instruments for the 2007-2013 period is achieved. The Programmes are structured on Axis and, based on needs, on Major Intervention Areas or Steps. The Major Intervention Areas can be structured on Operations. 
** For each Major Intervention Area, Step and Operation, within the Applicant's Guide, the types of eligible and non-eligible expenses are specified.

UniCredit Tiriac Bank Grants EUR 4.63 Million for the Largest Electrical and Electronic Waste Management Plant in S-E Europe

05.06.2009

Bucharest, June 5, 2009 - UniCredit Tiriac Bank granted GreenWEEE International EUR 4.63 million to set up the largest plant that supplies integrated services for treating electrical and electronic equipment waste in South-Eastern Europe.
 

The facility was granted for a seven-year period and was intended for purchasing processing equipment in accordance with EU Directive 2002/96/EC, for electrical and electronic equipment waste (WEEE). The plant implied a total investment of around EUR 10 million. The estimated turnover for GreenWEEE is between EUR 1 and 2 million for the first year.

GreenWEEE is situated in Frasinu, Buzau county, with a total area of 10,795 m². The plant has a processing capacity of 50,000 tons of WEEE per year, which is three times more than the quantity collected in Romania in 2008. The entire recycling process respects the environment through the correct processing of waste, resulting in secondary raw matters, which will be reintroduced in the economic circuit.

"The launch of this plant, the first on the Romanian and regional market, was possible thanks to the support of UniCredit Tiriac Bank, who financed almost half of the investment that was necessary for the project, the rest of it being covered from our own funds," said Marius Costache, General Manager of GreenWEEE International. “The fact that the bank got involved shows a genuine concern for the environment protection and the desire to invest in a business for the future," added Marius Costache.

“We wish to progressively be involved in Romanian financing projects for sustainable and non-pollutant industries, the facility for Green WEEE being the first one of its kind," said Rasvan Radu, Executive President for UniCredit Tiriac Bank. “We are now trying to launch a national campaign to finance local and county councils as well as private companies concerned with implementing environmentally friendly projects. For many of those, we also offer consultancy services to help them access structural funds," added Rasvan Radu.

UniCredit Group and World Wildlife Fund have recently signed an international strategic partnership with the aim of integrating sustainability and fighting climate change in the banking sector. Within the environment support project, thresholds for reducing gas emissions in our offices and branches were established, as well as for reducing indirect emissions, related to our Group's loan and investment activities. UniCredit is aiming to become a European leader in the sustainable development area, and its first goal is to reduce CO2 emissions by 30% by the 2020, thus supporting the "20-20-20" objective, established by the European Union as part of the "Energy - Climate" package.


# # #


About GreenWEEE International 

GreenWEEE International SA is part of the Romcarbon Group, with its main headquarters in Buzau and 12 offices in the regions. The Group is active in the chemical and recycling industries and has operational offices in Romania (Arad, Bucuresti, Iasi, Corabia, Buzau), Ukraine (Odessa), Serbia (Novi Sad), Macedonia (Skopje) and Greece (Thessalonik). 
It is the first integrated recycler in Romania and the largest in South-Eastern Europe, offering recycling and processing services for electrical and electronic equipment waste (WEEE) at European standards, complying with all the European and international environment legislation.


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 242 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.

UniCredit Tiriac Bank and Miles & More launch the Miles & More Gold Credit Card in Romania

21.05.2009

  • The co-branded Miles & More Gold Credit Card is launched by UniCredit Tiriac Bank and Miles & More in association with MasterCard
  • In addition to a Welcome Bonus of 2,000 Miles & More award miles , each cardholder earns 1 Miles & More award mile for every RON 4 spent

UniCredit Tiriac Bank and Miles & More launch the Miles & More Gold credit card in association with MasterCard, a premium product especially designed for people who travel frequently.

Miles & More is Europe’s largest frequent flyer programme enabling their members to earn and spend award miles. They earn miles when flying with Lufthansa and its airline partners, stay at a variety of partner hotels, or even rent a car. From now on this is also possible with the Miles & More Gold Credit Card issued by UniCredit Tiriac Bank. 

Cardholders earn award miles for their daily spending like filling up the car, shopping, going out for dinner, paying the monthly bills or leaving for holidays. For every RON 4 spent at any MasterCard accepting merchant, over the Internet, in Romania or abroad, 1 award mile will be credited to the member’s Miles & More account. Additionally, the cardholder receives a Welcome Bonus of 2,000 award miles after the first card purchase and can feel safe with the free international travel insurance offered by AIG Romania. 

The credit line is free of interest for up to 56 days from the purchase date provided that the cardholder fully reimburses the utilised sum within this grace period. Afterwards the standard interest rate is 26.54% per year. The minimum necessary income for the Miles & More Gold Credit Card is RON 1,000, whereas, depending on the clients’ individual income, UniCredit Tiriac Bank grants credit lines of  up to RON 35,000. The credit card has zero charges at any local and international merchants. Moreover, free of charge cash-withdrawals at over 17,000 ATMs of the UniCredit Group have also been included.

Miles & More credit cardholders enjoy the extra benefit of no mileage expiration. All award miles which are currently on the Miles & More accounts and those they earn in the future, allowing them to redeem them at their convenience, while normally Miles & More award miles have an expiry date of 36 months. The only requirement is that the cardholders have held the Miles & More Credit Card for three months and make a miles-related purchase with the Miles & More Credit Card at least once a month.

Mr. Stefan Versemann, Lufthansa General Manager Passenger Sales Romania and Moldavia said: "We are delighted to be able to offer our customers increased advantages through this innovative co-operation with UniCredit Tiriac Bank. With the Miles & More Gold Credit Card by UniCredit Tiriac Bank, in association with MasterCard, three strong brands came together. We are convinced that this co-operation will be equally beneficial for all corporations in terms of increased customer loyalty through added value. Credit cardholders can benefit from spending the earned award miles for upgrades-, flights- or merchandise awards. By launching this product, we have once again demonstrated our commitment to business in Romania, as a market of strategic importance for Miles & More and Lufthansa". 

Zoltan Major, Vice President Retail at UniCredit Tiriac Bank said: "The Miles & More Gold Credit Card is another step in executing our strategy to offer products that bring value to our Romanian customers and that are tailor-made to their needs and expectations. We are proud to bring this internationally successful combination of the Miles & More programme with a credit card to Romania and strongly believe in its potential. This card delivers plenty of benefits to our customers, including a flexible usage of the credit line and offers compelling travel insurance." 

"Ever since their introduction on the market, co-branded cards have been very successful in Romania, thanks to their multiple benefits such as convenience, security and great rewards," said Denisa Mateescu, General Manager for Romania and the Balkan Region, MasterCard Europe. "They are particularly relevant today, when people are looking for special offers and a convenient and consistent credit line. I am sure that the Miles & More Credit Card will be a preferred choice of the Romanian cardholders.."

Further details are available by visiting the company websites at www.lufthansa.comwww.miles-and-more.comwww.unicredittiriac.ro or by calling the UniCredit Tiriac Bank Call Center at 021 200 20 20.

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 242 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.

About Miles & More 


Miles & More is the frequent flyer programme of Lufthansa as well as Adria Airways, Air Dolomiti, Austrian Airlines Group, Cirrus Airlines, Croatia Airlines, LOT Polish Airlines, Lufthansa Regional, Lufthansa Private Jet, and Swiss International Air Lines. Launched in 1993 by Lufthansa, it has around 16 million members worldwide, making it Europe’s largest Frequent Flyer Programme.

Miles & More members earn award miles when flying with any of the many Star Alliance airline partners as well as hundreds of partners on the ground. The award miles earned can be redeemed for flight or non-flight awards.

About Lufthansa 

Deutsche Lufthansa AG is a fully privatized group of companies offering air transport services including passenger airlines, logistics, flight catering, aircraft maintenance and information technology. Lufthansa is a founding member of the Star Alliance, and has developed one of the most comprehensive alliance networks in the industry.

Lufthansa in Romania currently offers 114 weekly flights from Bucharest, Cluj, Sibiu, and Timisoara to its hubs in Frankfurt and Munich. With Lufthansa Italia now also daily flights between Bucharest and Milan are available on a Airbus A319 with service offering an Italian touch. 

About MasterCard Worldwide 

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide.  As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants.  Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.

UniCredit announces its Green Deal: The Group commits to reducing its CO2 emissions by 30% by 2020 supporting the 20-20-20 goal set by the EU

07.05.2009

This is the goal of the Environmental Sustainability Program developed at international level in collaboration with WWF. Reduction targets will be defined for the emissions of offices and branches as well as for indirect emissions related to lending and investment banking activities. Emissions performance will be monitored every three years and, if there is a difference between reduction goals and results achieved, the Group will fund internationally certified offsetting projects. 

UniCredit Group and WWF signed a strategic international partnership agreement aimed at integrating environmental sustainability and climate change into the banking business in accordance with Group CEO Alessandro Profumo’s vision of making the Group become the European leader in terms of sustainability. The first ambitious goal UniCredit has set is to reduce CO2 emissions by 30% by 2020, thus supporting the EU energy goal – also known as ’20-20-20’ – defined in the “Climate & Energy Package”.

“Our Climate Change strategy”, said UniCredit Deputy CEO Paolo Fiorentino, “is based on the introduction of specific policies integrated into the banking business, as well as on the development of our Environmental Sustainability Program along three main paths: the reduction in internal emissions resulting from the Group’s banking activities, the reduction in financed emissions related to lending activities, and the implementation of specific initiatives and projects aimed at strengthening the environmental identity of all Group employees. In addition, we will also support sector initiatives and international protocols focused on the same goals.”  

UniCredit’s “environmental roadmap” therefore includes activities to achieve a 30% reduction in CO2 emissions generated by the Bank’s offices and branches by 2020 (mid term goal -15% emissions by 2012). Such internal emissions will be monitored and, if targets are not fully achieved, the Group will implement specific offsetting projects to close the gap to the announced target. This will be done using high-value credits, the “Gold Standard”. The first step will be the assessment of the actual “carbon footprint” of the Group, evaluating by means of a “Carbon Audit” the direct emissions resulting from the Group’s banking activities (internal emissions)

The second strategic and integrated pillar is a strong focus on financed emissions, coherently with the commitment mentioned, particularly promoting energy efficiency and renewables’ lending, as the Group is well aware of the key role a banking institution can play through financial leverage in the transition towards a low-carbon economy. For this reason, in 2009 the Group, together with WWF, plans to develop an innovative model in the banking industry that will measure the actual environmental impact of the loan portfolio in terms of GHG emissions, and therefore make it possible to steer lending decisions according to these criteria, thus enabling the Bank to contribute to the development of the Green Economy.  

Within this framework, the first innovative product promoting energy efficiency has been developed in partnership with WWF: House Efficiency is a loan product targeted, at this preliminary stage, at Group employees in Italy. It will be launched over the next few days and later extended to the other countries where the Group operates. It is an inexpensive loan supported by energy consulting services. This loan product will generate real benefits such as savings on energy bills and CO2 emission reduction, which will be monitored and certified for reporting.

  • For example, for the residential sector in Italy: based on the available data (consumption / energy savings), in order to reduce CO2 emissions by one ton every year on average, a family would need to invest €4,000 in energy efficiency measures at their homes, whereas SMEs would reduce their annual CO2 emissions by 12 tons by investing €10,000.
  • This means that €1 million in green loans granted for energy efficiency can help achieve significant reductions in CO2 emissions; more specifically:
    • in households: around 250 tons - as a basis for comparison consider that 250 tons of CO2 emissions saved correspond to the emissions of around 110 cars over one year, that is, 1.6 million km travelled* 
    • in SMEs: around 1,200 tons - as a basis for comparison consider that 1,200 tons of  CO2 emissions saved correspond to 300 round-trip flights between Rome and New York for one person*.

“With this partnership we intend to support UniCredit in its virtuous plan to progressively integrate environmental issues into the Group strategies. This year WWF celebrates the Year of Climate 2009 and we are glad to contribute with our knowledge and experience to the implementation of this ambitious program. The commitment of a leading European banking group to reducing its carbon emissions is favorably welcome. Steering the investment and credit line portfolio to provide credit facilities and financial support for the most virtuous sectors can play a strategic role in tackling climate change”,  said Michele Candotti, Director General of WWF Italy.

“2009 is a crucial year for climate change, as world leaders will be called to take action to tackle global warming agreeing on a global deal for climate that should be finalized at the Copenhagen COP” added  Kim Carstensen, Leader of WWF Global Climate Deal Initiative.

“Even in a context such as the current one,” continued Paolo Fiorentino, “we cannot forget that we must develop our business by acting responsibly, as we know that sustainability is the key to our future and the future of our children, and that environmental protection is for us not only a commitment but also a significant business opportunity”.


* Estimate based on EU Footprint Calculator data

UniCredit Tiriac Bank reduces the level of interest rates for Individual Loans

04.05.2009

Bucharest. May 4. 2009 - Starting today, UniCredit Tiriac Bank reduced the level of interest rates for individual loans by up to 3%, at the same time simplifying the interest rate calculation formula.

The interest rate calculation formula for the loan products requested by individual customers starting May 4, 2009 is presently formed by the EURIBOR/LIBOR/RBOR 6M level plus a bank margin that covers the credit risks taken by the financing (interest rate = EURIBOR/LIBOR/RBOR 6M + bank margin). Customers who have already taken a loan on the old formula will benefit from the decrease in the interest rate following the decrease of the country risk (CDS). The interest rate is revised biannually, on June 30 and December 31.

"One of our priorities is to continue with the loans. I think the decrease in interest rates together with a series of measures to make customer services more effective will contribute to an improvement in demands. The interest rate calculation structure was simplified due to our customers requests", according to Mr Zoltan Major, Vice-President for UniCredit Tiriac Bank, responsible for the Retail Division.

To make calculations more accessible, the MRR component was eliminated (costs that result from the application of the compulsory minimum reserve mechanism) and CDS - previously used by the bank for the loan interest rate formula.

Apart from granting loans, in order to support its customers. UniCredit Tiriac Bank gives them the opportunity to restructure their previous loans by rescheduling payments for free (extending the loan period and decreasing monthly payments), changing the loan currency, for a fee of 1% of the loan value and granting a grace period of up to 6 months, during which only the interest rate is paid.

The interest rates for the main loan products offered by UniCredit Tiriac Bank:

House Loan for Purchasing and Building Houses

RON 17.54%; DAE 19.82%
EUR 10.54%; DAE 11.55%
USD 10.31%; DAE 11.31%

Car Loan 
RON 21.54%; DAE 26.30%
EUR15.04%; DAE 18.22%

Study Loan
RON 18.54%; DAE 21.19%
EUR 9.54%; DAE 10.64%
USD 9.31%; DAE 10.38%

Personal Mortgage Loan

RON 18.54%; DAE 21.13%
EUR 11.54%; DAE 12.79%
USD 11.31%; DAE 12.53%

Credit card
RON 26.54%; DAE 30.70%
EUR 17.04%; DAE 19.66%

Overdraft
RON 23.54%
EUR 19.54%
USD 18.31%

5-Year Personal Loan without Mortgage*
RON 26.04%; DAE 31.84%
EUR 18.04%; DAE 21.61%
USD 16.81%; DAE 19.60%

10-Year Personal Loan without a Mortgage*
RON 27.04%; DAE 32.71%
EUR 19.04%; DAE 22.35%

5-10 Year Refinancing Loan

RON 26.54%; DAE 31.37%
EUR 18.54%; DAE 21.73%

* Personal loans without mortgage and consumer loans are granted through UniCredit Consumer Finance. in  the bank's branch network throughout the country.
 
DAE is calculated for the maximum loan period.

# # #


About UniCredit Tiriac Bank


UniCredit Tiriac Bank is part of the UniCredit Group network. the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services. with around 600.000 customers and 242 branches. The bank provides a wide range of specialised products and services in Romania. through its partners. UniCredit Leasing Corporation. UniCredit CAIB Securities. UniCredit CAIB Romania. UniCredit Insurance Broker. Pioneer Asset Management. UniCredit Consumer Finance and UniCredit Processes and Administration.

UniCredit Tiriac Bank Introduces New Benefits for the Online B@nking and BusinessNet Customers

28.04.2009

Bucharest, April 28, 2009 - UniCredit Tiriac Bank added new benefits to the Internet banking services to facilitate individuals and companies the downloading of current forms used in bank branches for transactions made through cards issued by the bank. 

Through these new facilities, individuals using the Online B@nking service no longer need to go to the bank to change their daily card limit, nor to change order of accounts attached to the cards, nor to decline payment for contested transactions. The latter is also available for BusinessNet customers.

Another new feature is that, within the Internet Banking applications, individuals and companies can set up themselves alerts for any card transaction and the notifications are sent by e-mail, in real time. The account balance can also be received by e-mail, through a simple setup that the customers can operate via Online B@nking or BusinessNet, by selecting the preferred reporting frequency.

In 2008, the total number of users of the Internet Banking services offered by UniCredit Tiriac Bank increased by 150% compared to the previous year. This increase was maintained throughout this year as well, at the end of Q1 2009, the number of new active users of Internet Banking tripled, as compared to the same period of last year.

The service is free of charge for individuals, with no monthly administration or set up fees. To get a digipass device, which generates the Online B@nking access codes, you need to pay a 20-EUR deposit which is reimbursed when you cancel the application.

UniCredit Tiriac Bank and MasterCard® launched a promotion valid until 7 May, through which our Online B@nking customers who purchase a MasterCard Standard or a MasterCard Gold credit card and use it for POS or online transactions of at least RON 30 are eligible to win a ticket for the finals of the UEFA Champions League®, the 2008 – 2009 season. The winning ticket is offered courtesy of MasterCard®, official sponsor of the UEFA Champions League®.

# # #


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 242 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.

The Alternative Sociale Association and UniCredit Tiriac Bank Support Children and Elderly People Affected by the Emigration of Close Relatives

22.04.2009

  • 600 children and 500 elderly people in Iasi County will benefit from a substantial assistance programme to reintegrate them into the community

Bucharest, April 22, 2009 - The Alternative Sociale Association and UniCredit Tiriac Bank, supported by the Unidea Foundation, start the project "MIGRATIONS - Fighting the negative effects of migration amongst children and elderly people who stay behind”, which will continue until 2011.

The beneficiaries of this project are 600 children and 500 elderly persons in Iasi county, whose close relatives left to work abroad. The two categories of beneficiaries will receive psychological, social and legal assistance, as well as basic support in terms of food, essential school supplies, clothes or medicine, according to their needs.

"Migrations is a programme initiated by Unidea Foundation and UniCredit Group in Germany, Serbia and, now, in Romania, which aims to reduce the impact the migration phenomenon has on children and elderly people, who are strongly affected when their close relatives go abroad to work," said Anca Nuta, CSR Manager for UniCredit Tiriac Bank. "According to a survey by UNICEF and the Alternative Sociale Association, two years ago in the Moldova region, Romania, over 100,000 children had one or both parents leave to work abroad. These children have the right to a normal life and will now have more chances to be reintegrated into the community they live in."

"Migration for work purposes affects children as well as the elderly. Although many of the parents who go to work abroad leave their children with their grandparents, our experience showed that, often times, it is the elderly, and not  only the children, who need psychological, social and medical assistance. This is why this project is addressed to children and elderly people as well," said Catalin Luca, CEO for the Alternative Sociale Association.

The programme includes a campaign meant to inform the public and make it aware of the complex issues related to the work migration phenomenon. Thus, the first stage of the programme will take place at a national and international level and will promote ways in which parents who went abroad to work can claim, in the country where they are, an allowance for the children they left behind. The second part of the campaign aims to raise awareness in the local Iasi communities and to get them involved in supporting the elderly who face difficulties.

The project "Fighting the negative migration effects amongst children and elderly people who stay behind" was initiated and will be implemented by the Alternative Sociale Association, and it will continue during the next two years with UniCredit Tiriac Bank, supported by the Unidea Foundation, which will cover the estimated costs of EUR 480,000, to reduce the impact of the migration phenomenon on the most vulnerable population categories, in an area which is seriously affected by this."

The programme is implemented in co-operation with the County Police Inspectorate, with the Iasi Community Assistance Association, The General Social Assistance and Child Protection Association in Iasi, The Iasi County Pension House.

# # #

On The Alternative Sociale Association
The Alternative Sociale Association was founded in 1997 by a group of students at the Social Assistance Faculty within the Al. I. Cuza University in Iasi. Its main activities include supporting the justice reform, preventing and fighting human trafficking, preventing the abuse, neglect, exploitation and institutionalisation of children, providing psychological and social services for children, elderly people and minors who have been victimised. The association also deals with surveys, research, methodologies and resource publications related to these fields.

About The Unidea Foundation
The Unidea - UniCredit Foundation was created to put the values and ideals of UniCredit Group into practice. Unidea is fully financed by the Group and it is a separate entity, with its own Managing Council, formed by important representatives of civilian life. The Unidea - UniCredit Foundation is directly involved in implementing projects chosen in line with its strategy, and it promotes voluntary work, social involvement and charitable donations. In 2008, The Unidea - UniCredit Foundation initiated, developed and supervised co-operation projects in the countries where UniCredit Group is present as well as in other countries, such as Benin and Burkina Faso.

About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 242 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.

UniCredit gives 1 million euro to help Abruzzo. A fund-raising initiative has been launched among 170,000 employees in all 22 countries where the Group operates.

16.04.2009

UniCredit Group is close to the people affected by the earthquake in Abruzzo (Italy) and, to testify  its commitment, has allocated 1 million euro to help the region.

Within the solidarity initiative, the Group will also invite its 170,000 employees, in the 22 countries where it operates, to collaborate by donating an amount equivalent to one hour's gross salary as further help.

UniCredit Tiriac Bank opened a bank account for this purpose, so that its employees can contribute with donations by May 31st 2009.

UniCredit Tiriac Bank Launches Two New 4 and 7-Month Deposits, with Promotional Interest Rates for Individual Customers

  • Innovative offfer, unique on the Romanian market, for 7-month deposits – preferential interest rate granted by the bank even when the deposited sum is withdrawn before term

Bucharest, April 14, 2009 - UniCredit Tiriac Bank offers promotional interest rates for two new savings products for individuals, the 4 and 7-month deposits, with fixed interest rates. The promotion is valid until May 31, 2009. Now, the bank is offering yields of up to 14% a year on RON deposits and up to 7% per year on EURO deposits.

The 7-month deposits uniquely offer preferential interest rates for customers who decide to withdraw their money before term, that is 6% for RON deposits and 3% for EURO. When deposits are cancelled for different terms, the current account interest rate is applied.

The minimum starting sum is RON 1,000 or EUR 1,000, with no deposit or withdrawal fee, if the sums are withdrawn from the bank branch on due date.

“The two deposits for 4 and 7 months with promotional interest rates are an addition to the 2-month deposit, launched at the end of last year,” according to Alina Lupes, Mass Segments Manager for UniCredit Tiriac Bank. „We’re thereby satisfying the needs of our customers, who are now looking for the best saving options, as well as the easiest ways of accessing bank products. Apart from the very attractive yields, they have the option to start deposits even without going to the bank and being conditioned by the branch opening hours, without any additional costs," Alina Lupes added.

Individual customers can start deposits in any of our 242 branches and agencies throughout the country, through the Online B@nking service, and in our 30 offices offering the Non-Stop Banking service.

Interest rates for 2, 4 and 7-month deposits

Deposited sum

RON

EUR

< 5.000

13,00%

5,50%

5.000 – 25.000

13,25%

6,00%

25.000 - 50.000

13,50%

6,50%

> 50.000

14,00%

7,00%



About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is a genuine "one-stop-shop" of financial services, with around 600,000 customers and 242 branches. The bank provides a wide range of specialised products and services in Romania, through its partners, UniCredit Leasing Corporation, UniCredit CAIB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Consumer Finance and UniCredit Processes and Administration.


UniCredit Tiriac Bank and METRO Cash & Carry Romania launch their first co-branded credit card dedicated to companies

09.04.2009

  • Credit line equivalent of up to 30,000 EUR and a grace period of 50 days
  • Discounts within the METRO network and its partner stores
  • Unique insurance package for items purchased nationally on METRO cards

Bucharest, April 9, 2009 - UniCredit Tiriac Bank and METRO Cash & Carry announce the launch of the first cobranded card on the Romanian market dedicated to companies that are METRO customers. Thus, they benefit from a very useful payment tool for their business, whether it is traditional trade or HoReCa, which assigns more floating capital and enables access to a series of promotions on METRO products as well as their partner companies’ products.

The maximum limit of the credit line offered by the bank is the RON equivalent of 30,000 EUR, but must not exceed more than 10% of the company’s average turnover, to be calculated based on the last balance for an entire financial year. The loan is granted over a 36-month period, and the extension is calculated on maturity, if the eligibility conditions announced by the bank are fulfilled. The minimum sum to be reimbursed is 10% of the amount owed to the bank at the end of each transaction cycle.

The METRO UniCredit Tiriac Bank is available in the project’s first stage of implementation to METRO customers in Iasi and Craiova, before being implemented nationally. However, cards issued in the trial phase will be valid in all METRO hypermarkets and partner stores nationwide, and they can be used just like any other payment card at POS and ATM.

The items purchased from the METRO stores using the METRO credit card issued by UniCredit Tiriac Bank will be insured, free of charge, against damage or theft for a 15-day period from the purchase date. The insurance automatically applies to minimum purchases of RON 150.

”The main challenge our customers come up against is capital flow and the new product we are launching together with our partner, UniCredit Tiriac Bank, is meant to offer tangible support, through its credit line and its related promotions,” according to Francois Oliver, General Director, METRO Cash & Carry Romania. Thus, through this direct financial support project, we complete METRO's initiatives to support our customers and professionals in traditional or HoReCa trades, whilst endeavouring to revitalize the Romanian economy, in a very challenging year.”

Today, METRO meets all the main business needs of their customers, through specialized educational programmes for each type of business (Competence Centre for Gastronomy, Competence Centre for Resellers, Solutions Centre for Offices), through promotional prices for products, direct consultancy given by METRO sales specialists, and, now, financial support tn the form of the METRO UniCredit Tiriac Bank credit card, issued under the Visa logo, the first Romanian co-branded card for companies. This compliments other financial support products, especially tailored for professional customers (restaurants, hotels, etc.) that METRO Cash&Carry Romania has developed in liason with its partners.

For further details on the card’s features and the participating partners, please contact a METRO consultant or visit any of UniCredit Tiriac Bank branches.

Start in the application process for the 7th edition of the New Europe Master in Banking and Entrepreneurship

07.04.2009

  • Master’s program dedicated to the practical understanding of the European Banking system
  • UniCredit Group will cover up to Euro 22,000 of the registration fees for up to 30 students enrolled in the Master’s program
  • Deadline for submitting applications is June 30, 2009

Bucharest, April 7, 2009 – UniCredit Group announces the 7th edition of the New Europe Master in Banking and Entrepreneurship, due to start in autumn of 2009.

The Master’s program is open to graduates (both bachelor’s and master’s degrees) and young professionals with up to two years of professional experience from Romania and other Central and Eastern European countries. Successful candidates should have a university degree, a certificate to demonstrate proficiency in English and internship or work experience, preferably finance-related. 

The program will be run on the duration of one academic year, giving selected students the chance to participate in at least 1,000 academic hours of classes, workshops and seminars in period from October 2009 to April 2010. This first stage of the program is followed by a 3-month internship in May – July 2010 and the final thesis in September 2010. 

Professors from Italian and Eastern European universities, as well as banking sector professionals will guide students through the realities of the financial environment, helping them develop and enhance entrepreneurial skills in order to start a career in the banking field. 

Starting October 2009, up to 30 selected candidates will attend classes in Italy, at the former Franciscan monastery Convento di San Francesco, located in Conegliano, an Italian town known for its original entrepreneurial activities. UniCredit Group will award selected students with a scholarship covering up to Eur 22,000 of the registration fee, the candidate having to cover the rest of EUR 3,000 up to Eur 25,000 value of tuition.

This post-graduate program was initiated in 2003 in collaboration with Fondazione Cassamarca and aims at providing a technical and practical understanding of the European banking system and of the relationships between banks and business communities. 

Information on the selection process and the downloadable scholarship application form can be found at www.masterbe.com.

About UniCredit Group
UniCredit is a major international financial institution with strong roots in 22 European countries as well as representative offices in 27 other markets, with over 40 million clients and more than 10,200 branches, approximately 174,000 employees at 31 December 2008. 

In the CEE region, UniCredit operates the largest international banking network with over 4,000 branches and outlets, where around 78,000 employees serve more than 28 million customers.

The Group operates in the following CEE countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

UniCredit Tiriac Bank Records 37% Growth in 2008 Net Profit

18.03.2009

  • A net* profit of RON 358.3mn in 2008 reported, up 37% compared to 2007 and up more than 2 times compared to 2006 which lays the foundation for stability in a challenging economic environment
  • Fast expansion and market outperfromance with 53% increase in loans, 31% in deposits  and 71% of distribution network (101 new units)

18 March 2009 - UniCredit Tiriac Bank reports a 37% annual growth in audited net profit under IFRS, reaching RON 358.3mn** , estimated at more than 10% of the recurring comparable profit of the Romanian banking system*** . Profitability level remains high ROE at 21.3% (23.2% adjusted of the impact of new branches) and ROA of 2.4%.

UniCredit is Best Trade Finance Provider 2009 in CEE, Austria and Poland and Best Bank for Payments & Collections in CEE 2009

06.03.2009

The renowned magazine "Global Finance" has named the UniCredit Group as the "Best Trade Finance Provider 2009" in CEE, Austria and Poland as well as "Best Bank for Payments & Collections in CEE 2009". Decisive for winning this award were, among other things, business volume, market share, reach, product innovation, services and price policy in the countries concerned.

"We are very proud of these awards, which underscore our important position in the these markets. Our recipe for success is the unique combination of local know-how and global expertise joining forces with our IT systems to develop innovative solutions that are specially tailored to our customers - no matter what language they speak. The awards are also a clear evidence of the commitment of our first-rate employees to serve our clients. I am sure that in future other awards will follow," says Marco Bolgiani, head of the Global Transaction Banking Division.

The UniCredit Group is among the top three financial institutions in Europe in the area of transaction banking. The Global Transaction Banking Division of the Group offers products, services and solutions in the following areas: cash management and eBanking, trade finance and supply chain management as well as structured trade and export finance. "Global Finance" is one of the leading international finance magazines with more than 285,000 readers in 160 countries.

UniCredit Tiriac Bank Offers Promotional Interest Rates for 1 Month SME Deposits and for Individuals 2 Month Deposits

03.03.2009

Bucharest, March 3, 2009 - Up to 30 April, UniCredit Tiriac Bank offers promotional interest rates for SME one-month deposits and extends the promotion for two-month deposits for individuals until the end of March.

SME customers will benefit from promotional interest rates for one-month deposits. The minimum deposit is RON 10,000 or EUR 3,000, which is standard for this customer sector. The one-month interest rate is 15% per year for RON deposits and 6% for EUR deposits. The bank does not charge a starting or an administration fee for this product.

The promotion for the two-month deposits for individuals, launched at the end of last year, has been extended until 31 March, with the same interest rate of up to 14% per year for RON deposits and up to 7% per year for EUR, based on the deposited amount. The minimum deposit is RON 1,000 or EUR 1,000, and there is no starting, deposit or withdrawal fee - if the sum is withdrawn on maturity.

"The promotions we launched last year are still proving successful as they were designed to meet our customers' desire to make beneficial short-term savings," according to Dan Stancu, Retail Division Sales Manager for UniCredit Tiriac Bank. "At the end of March, we will launch new deposit products for our individual customers, including a four-month and a seven-month deposit option, as well as a variable interest rate one."

Our individual customers have the possibility to start a deposit even without going to the branch, through the Online B@nking application, as well as manage their own deposits. Any customer can start a deposit in one or more of over  240 branches and agencies within the UniCredit Tiriac network.

DEPOSITS (OFFER valid up to March 31, 2009)
Deposit term Tiers RON EUR
RON / EUR
2 months 5 13,00 5,50
5.000 – 25.000 13,25 6,00
25.000 – 50.000 13,50 6,50
>50.000 14,00 7,00


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit Group, the largest banking group In Central and Eastern Europe. UniCredit Tiriac Bank is one of the most relevant players on the Romanian banking market, with total assets of 4.5 billion EUR (on September 30, 2008). UniCredit Tiriac Bank is a true "one-stop-shop" financial service, with a current database of over 600,000 customers and over 240 branches. In Romania, the bank offers a wide range of specialised products and services through its partners, UniCredit Leasing Corporation, CA-IB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Markets and Investment Banking, UniCredit Processes and Administration.

PAVILION UNICREDIT - the first independent center for contemporary art and culture in Romania

19.02.2009

BUCHAREST, February 19th, 2009 - PAVILION UNICREDIT, the centre for contemporary art and culture, officially opened with the exhibition “STATEMENT”, curated by Lia Perjovschi. The Center is opened for the public in the center of the capital city, in Victoria Square.

PAVILION UNICREDIT is a space for the knowledge and interest in society, city and community, a work-in-progress independent space, a space for the production and research in the fields of visual, discursive and performative. It is a space of critical thinking, and it promotes a certain artistic perspective on art and cultural institutions, one that implies a socio-political involvement.

The Center will set up every year three-four exhibitions, discursive events, a film projection schedule and an informal educational program entitled The Free Academy. It will shelter one of the most important areas of information in the entire country, which is constituted of the Contemporary Art Archive (archive created by Lia and Dan Perjovschi) and the Pavilion Resource Room (a non-archive created by Razvan Ion and Eugen Radescu).

The structural design, the architecture of the space was created by Adriana Mereuta. The space is an unusual one for a centre of contemporary art and it was designed in such a way so as to preserve the elements of the original space, of the Communist building. Simultaneously, the architectural project added functionality and conception to its utility, while maintaining as centre of gravity, in its core, the archives/information.

PAVILION UNICREDIT is the first centre for contemporary art and culture in Romania and it is the result of an extended cooperation between the BUCHAREST BIENNALE team and UNICREDIT TIRIAC BANK.

Visiting address: 1 Şos. Nicolae Titulescu (Victoria Square), Bucharest
E-mail: pavilion@pavilionmagazine.org
Website: www.pavilionunicredit.ro
Telephone: 031-103-4131

Opening hours:

Tuesday – Friday: 12.00 – 19.00
Saturday – Sunday: 14.00 – 21.00
Closed on Mondays

UniCredit Tiriac Bank grants MGV Distri-Hiper 15 Million EUR Financing

30.01.2009

Bucharest, January 30, 2009 - MGV Distri-Hiper, the Auchan hypermarkets operator in Romania, was granted 15 million EUR by UniCredit Tiriac Bank, for opening two stores in Bucharest and Suceava.

Of the total financing value, 10 million EUR have been granted over 6 years, half of this sum being used to purchase equipment for the two hypermarkets in Militari, Bucharest, and Iulius Mall, Suceava, and the remaining 5 million  EUR representing working capital.

"Launching these two hypermarkets at the end of last year was a very important achievement for us. Ensuring long-term resources for these projects was our number one priority from the financial point of view and this is why we are very grateful that the UniCredit financing was successful", said Michele Ceresoli, Chief Financial Officer Auchan Romania.

"Given the present market situation, it is important for banks to continue to support their customers with long-term investment loans. To make this partnership official, the business model and the professional management of the company were of utmost importance, said Răsvan Radu, UniCredit Ţiriac Bank. Executive President. 

In 2008, UniCredit Ţiriac Bank had very good position in the corporate segment, with a 53% increase of the value of the granted loans and a 57% deposit increase.

About MGV Distri-Hiper

MGV Distri-Hiper SA was founded in 2005 to open and operate Auchan hypermarkets in Romania and currently owns 6 Auchan hypermarkets and a supermarket. French retailer Auchan recently announced purchasing 51% of MGV Distri-Hiper, the operator of the Auchan hypermarkets in România. Following this transaction, the group increased their participation to 100% of the company's capital. Their expansion in Romania will continue this year, by opening two more Auchan hypermarkets in Timisoara and Constanta.

UniCredit Tiriac Bank Offers 6 Months Free Access To Online Banking and Business Net

26.01.2009

January 26, 2008 - UniCredit Ţiriac Bank launched a promotion for the free trial of the bank’s Online Banking and Business Net services, addressed to individuals as well as to SMEs. For agreements signed up to March 31, the bank offers free access to the digipass device for six months.

When these 6 months are up, the customer can choose to return the account access device to the issuing branch and to close his Online Banking account or to continue using it, by paying the guarantee.

"In 2008, the number of transactions made through the Internet by our individual and SME customers doubled compared to 2007. It is certain that online transactions are gaining appreciation and we think they will continue to expand, given the cost advantages as well. Our recently launched campaign is part of a series of measures aiming to improve the quality of our services, in this case, by offering our customers who wish to manage their accounts online the free access to our Internet banking services," said Zoltan Major, UniCredit Ţiriac Bank vice-president for the Retail Division.

The bank has 50% lower fees for Internet transactions compared to the ones performed in branches.

The promotion is addressed to customers who are new to online banking as well as to additional individual or corporate customers who will have access to this service through the customers that already have it.

The Online Banking service is available for free, and clients only need to pay the bank administration fee (RON 7.5 / EUR 2 a month), and through one of the two product and service packages, Optim or Premium. The packages contain a RON current account and a foreign currency account, a Visa Electron or Maestro debit card, overdraft, direct debit, telephone service, Online Banking, Info SMS and a MasterCard Standard credit card for the Optimum package, and a MasterCard Gold credit card for the Premium package.

UniCredit Tiriac Bank Launches Non Stop Banking Service

03.12.2008

Bucharest, Decembrie 3, 2008 - UniCredit Tiriac Bank launched the Non Stop Banking Service, which is available starting today in 21 bank branches, where customers can operate their own main cash transactions.

The Non Stop Banking is available through the self banking areas within our branches, where our bank employees will mainly offer consultancy and sales services. The self banking areas are equipped with multifunctional devices and PCs which have Internet connection (allowing access to the UniCredit Tiriac Bank Online Banking service), available in Bucharest and in the major cities in Romania. By the end of 2008, the bank will install 30 self banking areas in our branches, operating them alongside our traditional services.

The multifunctional ATMs will replace the classic bank tellers, allowing cash withdrawals and deposits - based on a bank card or on a bar code issued by the branch, EUR-RON exchanges, as well as utility payments. Payments are made based on the bar code on the bills of the agreed suppliers, Romtelecom and Vodafone, and in 2009, it will be possible for payments to be made to other telephone service, utilities and insurance suppliers.

"The self banking concept makes room for a new approach to the bank branch, in which the time allocated to customers for completing their main transactions becomes more efficient. The self banking services will bring more flexibility to the most frequent cash transactions in a bank branch, which will greatly assist individuals and SMEs, who need cash services outside of the working hours as well, and during non-working days," says Cristian Cosmescu, Business Network Development Director.

"Branches without tellers have been introduced in Italy and in other UniCredit European offices for a long time, with various technical solutions, but we can claim to be Group pioneers when it comes to using deposit and withdrawal equipment for reusing and recirculating banknotes, to help reduce future operational costs by limiting cash related costs. By the end of the year, we will add the deposit option and the option of making currency exchanges from USD to RON via the existing facilities in our self banking areas, and, in 2009, it will be possible to issue payment orders and to charge phone cards, "says Daniel Ghiulea, Operations Channels Director. 


About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit Group, the largest banking group In Central and Eastern Europe. UniCredit Tiriac Bank is one of the most significant players on the Romanian banking market, with total assets of 4.5 billion EUR (on September 30, 2008). UniCredit Tiriac Bank is a true "one-stop-shop" financial service, with a current database of over 600,000 customers and over 240 branches. In Romania, the bank offers a wide range of specialised products and services through its partners, UniCredit Leasing Corporation, CA-IB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Markets and Investment Banking, UniCredit Processes and Administration.

UniCredit Tiriac Bank Recorded RON 278mn Net Profit in 9M 2008

12.11.2008

·         A net profit of RON 278 mn, up 31% year-on-year was reported, driving annualised ROE to 22.6% and annualised ROA to 2.6%.

·         Fast business expansion, above the system average. Loans are up 75% year-on-year and 44% year-to-date. 68 new branches were opened in 9M.

Bucharest, 12 November 2008 – UniCredit Tiriac Bank reports RON 278mn net profit for the first nine months of 2008, up 31% year-on-year, exceeding its financial target for the period. Operating income for the same period is RON 807mn, up 28% year-on-year. Thus, profitability and efficiency levels exceed the average for the market: ROE is 22.6%, ROA 2.6% and Cost/Income ratio 49.9%, despite investments in active geographical expansion.

“All those efforts exerted in the last year allowed us to increase sizeably the revenue generation capacity of the bank in a sustainable way.” said Rasvan Radu, CEO of UniCredit Tiriac Bank. “This is achieved as a result of the enhancement of the spectrum of products and services, upgrade of systems and focus on staff training.”

“The high growth levels do not compromise the efficiency, return on investment and risk targets” said Stanislav Georgiev, CFO of the bank. “Economic value added (EVA) and return on risk weighted assets are our main performance measurment indicators. The bank’s liquidity is comfortable and the level of capitalisation is high.”

The balance sheet total reached RON 16.8bn, up 49% year-on-year and 31% compared to the end of 2007. Total outstanding loans, including those directly financed by the mother company, are up 75% year-on-year and 44% year-to-date to RON 15.7bn. The bank registered significant growth in all main segments: Corporate volumes were up more than 50% year-to-date, Small Business more than double and and the private individuals’ ones are up more 37% for the first nine months of the year.

Customer deposits grew 36% year-on-year. Asset quality remains good and risk management policy prudent with annualised costs of risk on RWA of 87bp and provision coverage of loan portfolio of 2.1%, unchanged from 1H.

UCT embarked on a branch expansion programme and opened 68 new branches in 9M 2008, up to 209 at the end of the period, improving geographical coverage. Near 500 new employees were recruited from the begining of the year. The bank established a specialised consumer finance company in a joint venture with UniCredit Consumer Finance, Milan, expected to open doors in the last quarter of this year. In 2008 UCT acquired the local branch of Banca di Roma, after a triple merger in the last 2 years. Numerous initiatives were completed and other started for boosting bank’s business, launching new products, improving quality of service, raising customer and staff satisfactions in a sustainable manner. The bank laid a particular emphasis on further enhancing its corporate social responsibility policy and increased the support to such initiatives compared to last year, when it was the 4th largest corporate contributor in Romania.

About UniCredit Tiriac Bank

UniCredit Ţiriac Bank is part of UniCredit Group, the largest banking group in Central and Eastern Europe and one of the largest in Europe. UniCredit Ţiriac Bank is one of the leading players in the Romanian banking market, with total assets amounting to EUR 4.5 billion (as of 30th of September 2008). UniCredit Ţiriac Bank is a true "one-stop-shop" for financial services, currently serving more than 600,000 customers through its more than 210 branches. In Romania, the bank is providing a wide range of specialized products and services through its partners: UniCredit Leasing Corporation, CA-IB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Markets and Investment Banking şi UniCredit Processes and Administration.

UniCredit Tiriac Bank Introduces a New SMS Notification System for Card Transactions

16.09.2008

Bucharest, 16 September 2008 - At the beginning of September, UniCredit Tiriac Bank and DTH Television Grup signed agreements for €18,500,000 short and medium term facilities for the financing of the Boom Direct-to-Home platform development.

The investments aim at offering the latest generation of specialised equipment to the Boom existing clients and at increasing the number of Boom subscribers. DTH Television will invest in the acquisition of set-top-boxes and will focus on launching further innovative services. 

"Taking into account the fast evolution of the Romanian digital television market, we can maintain our competitive advantages only through consistent investments. This loan will help maintain our qualitative TV services and bring innovative technologies, thus keeping our promise to our clients, but also to our development plans", stated Amit Levin, CEO DTH Television Grup.  

"This partnership is in line with our corporate business growth strategy", said Mugur Popescu, Large Corporate and Public Sector Director of UniCredit Tiriac Bank. "We are especially proud to support our client to improve its competitive advantages through new technology, in the very dynamic broadcasting industry", concluded Popescu.

DTH Television Grup SA has been incorporated in March 2004 and currently operates the DTH telecommunication system in Romania under the BOOM brand. BOOM was launched in May 2006 as Romania’s first independent DBS MCTV (Digital Broadcast Satellite or Direct-to-home Multi Channel Television). The company is the only operator to offer independently packaged channels (10 exclusive own channels out of which 6 included within the basic package). Boom also promotes innovative services such as PPV - pay-per-view, EPG - Electronic program guide and interactive TV.

# # #

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the CEE network of UniCredit Group, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is one of the most important players on the Romanian banking market, with total assets of EUR 3.9 billion (figures as of 30 June 2008), with more than 200 branches all over the country, offering to over 600,000 customers all financial services as a "one-stop-shop". UniCredit Tiriac Bank offers a wide range of specialized products and services through its partners UniCredit Leasing Corporation, CA-IB Securities, UniCredit CA-IB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Markets and Investment Banking, UniCredit Processes and Administration.

About Boom

Boom is the only digital satellite television platform in Romania that offers proprietary TV channels and exclusive content. The 10 channels offered only by Boom are dedicated to movies (5), children (2), football (2) and music (1). Boom brings Romanians over 30 monthly movie premieres and exclusive sport events: UEFA Champions League, Primera Divizion and Serie A, NBA and the new established Champions Hokey League. Using a modern satellite broadcasting technology, Boom also offers great quality for picture and sound. Boom is part of the DTH Television Grup.

UniCredit Tiriac Bank network exceeds the 200 unit milestone

10.09.2008

Bucharest, September 10 2008 – The UniCredit Tiriac Bank network exceeded the 200 unit milestone, as the bank accelerated its initially estimated organic growth. During the first eight months, the credit company opened 55 new branches and is planning to exceed 240 units by end of 2008.

As of beginning of this year, the bank hired 900 new employees, of which half (450 persons) for supporting the network expansion, on positions opened in both the new units and the head office. In the context of a general human resources volatility in the Romanian banking system, UniCredit Tiriac Bank takes measures in order to maintain a high level of qualified personnel by ongoing training and retention programs. At the moment, about 3,000 UniCredit Ţiriac Bank employees are serving 600.000 clients.

"The network development is a very controlled process, that takes into consideration all risk related aspects including those referring to the quality of banking personnel", declared Rasvan Radu, CEO of UniCredit Tiriac Bank. "We expect for the opening of new units and the network divisionalisation into retail and corporate branches to help us a lot in respect with the quality of services, along with the investments that are being made in the service model".

"The organic growth process exceeded our initial estimation in the strategic development project, according to which the 200 unit milestone was to be reached in November," said Robert Serbanescu, Network Optimisation Director. "In november we will finalise from a technical point of view the implementing of the self banking concept, which will function in paralel with the traditional service model", concluded Serbanescu.

Starting the 2nd half of 2007, the bank introduced a new model of network organisation by allocating units for individual clients and corporate clients. The bank utilises various cross selling opportunities along with other UniCredit subsidiaries in Romania and joint venture partnerships, thus being able to offer in branches added value products and services.

UniCredit Tiriac Bank Increases Interest Rates for Deposits and Differentiates Them Based on the Deposited Value

03.09.2008

·         A newly introduced facility enables individuals to start deposits with the Online Banking application

Bucharest, September 3, 2008 - UniCredit Tiriac Bank increases interest rates for term deposits for individuals and differentiates them based on the deposited sum, for all maturity options (one month, 3 months, 6 months, 9 months and 12 months).

The bank does not charge starting or depositing fees, and the minimum deposited amount is RON 2,000 or EUR (USD)1,000, with four value tiers with increasing interest rates. The interest rate is fixed until maturity.

"In accordance to the duration and the value of the deposit, the interest rate increase varies between 0.75% and 2.5%", says Zoltan Major, UniCredit Tiriac Bank Vice-President, head of the Retail Division. "The new interest rates are available for the existing deposits on their renewal."

Customers can start deposits on our bank branches as well as through the Online B@nking application, by sending a message to the bank through the Online B@nking or BusinessNet application, after which they can manage their own deposits.
 

Individual Deposits Interest Rates

RON

EUR

USD

1M

< 10.000

8.00

1M

< 10.000

2.80

1M

< 10.000

1.90

10.000 - 50.000

8.25

10.000 - 50.000

3.00

10.000 - 50.000

2.00

50.000 - 100.000

8.50

50.000 - 100.000

3.20

50.000 - 100.000

2.10

> 100.000

8.75

> 100.000

3.40

> 100.000

2.20

3M

< 10.000

8.25

3M

< 10.000

2.95

3M

< 10.000

2.00

10.000 - 50.000

8.50

10.000 - 50.000

3.10

10.000 - 50.000

2.10

50.000 - 100.000

8.75

50.000 - 100.000

3.20

50.000 - 100.000

2.20

> 100.000

9.00

> 100.000

3.40

> 100.000

2.30

6M

< 10.000

9.25

6M

< 10.000

3.10

6M

< 10.000

2.10

10.000 - 50.000

9.50

10.000 - 50.000

3.25

10.000 - 50.000

2.20

50.000 - 100.000

9.75

50.000 - 100.000

3.35

50.000 - 100.000

2.30

> 100.000

10.00

> 100.000

3.50

> 100.000

2.40

9M

< 10.000

9.25

9M

< 10.000

3.20

9M

< 10.000

2.20

10.000 - 50.000

9.50

10.000 - 50.000

3.30

10.000 - 50.000

2.30

50.000 - 100.000

9.75

50.000 - 100.000

3.40

50.000 - 100.000

2.40

> 100.000

10.00

> 100.000

3.50

> 100.000

2.50

12M

< 10.000

10.25

12M

< 10.000

3.40

12M

< 10.000

2.20

10.000 - 50.000

10.50

10.000 - 50.000

3.50

10.000 - 50.000

2.30

50.000 - 100.000

10.75

50.000 - 100.000

3.60

50.000 - 100.000

2.40

> 100.000

11.00

> 100.000

3.70

> 100.000

2.50


# # #

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit Group, the largest banking group In Central and Eastern Europe. UniCredit Tiriac Bank is one of the most signifcant players on the Romanian banking market, with total assets of 4.5 billion EUR (on September 30, 2008). UniCredit Tiriac Bank is a true "one-stop-shop" financial service,  with a current database of over 600,000 customers and over 240 branches. In Romania, the bank offers a wide range of specialised products and services through its partners, UniCredit Leasing Corporation, CA-IB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Markets and Investment Banking, UniCredit Processes and Administration.

Iulius Group Gets 124.8 million EUR from UniCredit Tiriac Bank to Develop the Palas Project

02.09.2008

2 September 2008&nbsp;- UniCredit Tiriac Bank granted a loan of EUR 124.8 million to Palas 1, which is part of Iulius Group, one of the major real estate developers in Romania. The loan will be used to finance the construction of a residential area in the Palas Complex, which is close to the Iasi Old Town.

The financing for the construction of the Palas Complex was structured on key projects, the loan from UniCredit Tiriac Bank being pivotal to the financing. An investment of over EUR 250 million, the Palas Complex is a large scale project, on an area of 120,000 square meters, aimed at the redevelopment of the centre of Iasi, around the Culture Palace, by building a complex which includes both residential and commercial areas, as well as class A office buildings, the largest underground parking space in Romania, with approximately 3,000 places, hotels and leisure areas. The Palas Complex is scheduled to be completed in 2010.

UniCredit Tiriac Bank was assisted by Badea Clifford Chance, the local branch of the largest law firm in the world, which offered legal advice to the bank during this transaction.

Adrian-Iulian Dascălu, President of the Iulius Group, said: "This loan is very important to the company, as it gives us the possibility to finance the largest part of the construction works for the Palas Complex, which have already started. This partnership enables us to reach the objectives we proposed, and it represents a new opportunity in our relationship with major financers."

"This loan corresponds to our strategy to select the most viable projects in the residential area, mainly large ones, centrally situated, proposed by experienced developers," said Antonela Marchievici, Real Estate Loans Manager for UniCredit Tiriac Bank. "The complex structure of this loan is meant to meet the specific needs of this project."

Daniel Badea, Managing Partner of Badea Clifford Chance commented: "This transaction is characterised by its grand complexity, and involves an intense and huge effort from all the parties involved for a period of nearly 6 months."

UniCredit Tiriac Bank will soon launch a loan to purchase apartments in the Palas area. Individuals will thus have the possibility to be granted their loan right after signing a precontract with Iulius Group, before the completion of the building.
&nbsp;

####

About Iulius Group

Iulius Group is one of the biggest Mall/commercial centres developers in Romania. Palas is their first mixed project, as well as the largest investment Iulius Group has made up to now. Today, the company owns a number of commercial centres in Iasi, Timisoara and Cluj, as well as one that is being built in Suceava due to open this fall. For the structuring of the project and for guaranteeing the loan, the Iulius Group team was represented by Emilian Grosu, financial manager for Iulius Group and Stefan Presura, freelance financial consultant.

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of UniCredit Group, the largest banking group In Central and Eastern Europe. UniCredit Tiriac Bank is one of the most signifcant players on the Romanian banking market, with total assets of 4.5 billion EUR (on September 30, 2008). UniCredit Tiriac Bank is a true "one-stop-shop" financial service, with a current database of over 600,000 customers and over 240 branches. In Romania, the bank offers a wide range of specialised products and services through its partners, UniCredit Leasing Corporation, CA-IB Securities, UniCredit CAIB Romania, UniCredit Insurance Broker, Pioneer Asset Management, UniCredit Markets and Investment Banking, UniCredit Processes and Administration.

About Badea Clifford Chance

Badea Clifford Chance is one of the major players on the Romanian law market, with over 50 lawyers, 5 of them being partners. The Clifford Change team which offered consultancy services for this project, with 10 lawyers, was managed by Daniel Badea, Managing Partner, and by John Fenemore and Andreea Şisman, Senior Lawyers.&nbsp;

Badea Clifford Chance has constantly been involved in complex syndicated loan, project finance transactions, Eurobond and share issuance on the international capital markets, derived financial tools, company purchases by strategic investors or equity private funds, leverage buy out transactions, infrastructure and highway projects, real estate investments, etc.

UniCredit Group CEE Banking Study 2008: Banking in CEE - still the right bet

14.07.2008

·         Growth of banking business slowing down but still strong

·         Some increase in the cost of risk and in funding costs, but banking profitability and capitalisation remain strong

·         International players to continue to profit from their CEE strategy - UniCredit Group is market leader 

·         Under the current market conditions, economists expect fewer mergers & acquisitions and sharper focus on organic growth

The banking market in the Central Eastern European  countries is still dominated by foreign international players, who continue to profit from their investments in the region. A fully integrated regional market has emerged, with some sub-segments and little room for further local acquisitions. "Our study shows that foreign ownership is significant at the CEE level, accounting for 75% of banking assets in Central Europe, 83% in SEE & Baltics and 19% in Broader Europe ", says Federico Ghizzoni, Head of Poland's Markets Division of UniCredit Group and Management Board Member for CEE at Bank Austria. 

Therefore, recent mergers & acquisitions (M&A) efforts have been directed towards new markets or specialised segments, while in the current global context, growth strategies are now most likely to focus on organic growth and branch openings. 

Liquidity issues might represent a constraint on the growth plans of some of the regional players in CEE, because of the increase in funding costs for banks resulting from the new international environment. Network rationalisation or global M&A can contribute to modifying the shape of the regional banking market. This is the result of the "CEE Banking Study 2008” conducted by UniCredit Group economists. 

CEE economic outlook: lively growth 

Economic activity in CEE remains lively, despite the repricing of risk at the international level. The economic dependence on capital inflows is the main risk, but even in a reduced capital inflow scenario, regional growth will probably be above 4 % for the period 2008-2010. Inflation is particularly pressing in the CEE countries, due to the weight of food and oil in the region’s consumption basket, potentially hurting both households and the corporate sector. Still, real income convergence remains a driver of further realignment in living standards. 

Financial penetration is moderating but continues, with volumes growing at around 23 % CAGR (compound annual growth rate) in the period of 2008-2010 and lending growth exceeding deposit growth. A banking model which implies the need for external funding means a risk of a credit squeeze. Such a risk is partly balanced by the widespread presence of international players in the market. 

"Securing sound funding remains a key priority for the local banking sector and for the local economies", says Debora Revoltella, CEE Chief Economist of UniCredit Group. The Baltic countries, Kazakhstan and Ukraine are already facing the challenges of a credit squeeze – with lower capital inflows resulting in lower lending growth and thus a slowdown in economic activity. Capitalisation of the CEE banking sector remains high, however, providing a good buffer to absorb potential shocks, while profitability is estimated at around 17 % CAGR in the period 2008-2010. 

Financial penetration gap and strong role of international players 

All banking systems in the CEE region are characterised by dynamic players, despite a much more challenging environment, dependence on capital inflows and a gloomy inflationary outlook. 

The entire regional CEE banking sector consists of 2,609 banks, with total assets of almost EUR 2,000 billion. The ranking of the top banks in CEE is led by UniCredit Group, operating through Bank Austria in CEE , with total assets of EUR 118.0 billion and a net profit after taxes (before minority interest) of EUR 2,125 million. Raiffeisen ranks second, with total assets of EUR 72.7 billion and net profit after taxes (before minority interest) of EUR 973 million. Erste Bank is in third place, with total assets of EUR 72.0 billion but with its net profit after taxes (before minority interest) of EUR 1,026 million in second place. UniCredit holds the strongest position in the region, with an unrivalled presence in 20 countries with about 3,700 branches. Raiffeisen follows with a network covering 16 countries, closely followed by Société Générale with 2,340 branches in 15 countries in the CEE region. 

Overall, the leading international banking groups in the region are planning to open some 4,100 new branches in CEE, most of them in new markets such as Russia and Ukraine. UniCredit Group accounts for approximately one third of these new branches, as the bank plans to focus on strong organic growth in the coming three years. “We know the market and we are able to manage strong growth even in the new context of higher risk. For the coming three years, we are planning to grow by 19.3 per cent annually. The CEE region remains a key focus of our Group, with around 1,300 branches to be opened by 2010. We are fully concentrating on our organic growth and a strong expansion of our branch network, especially in Turkey, Russia, Romania and Ukraine,” says Federico Ghizzoni.

Retail business still growing faster than corporate banking

The economists of UniCredit Group see opportunities for further transformation of households´ asset portfolios, despite capital market volatility and risk aversion. "Households’ lending penetration gap is closing, but the growth potential remains related to the strong demand for a higher living standard", says Revoltella. "The main risks are related to households' exposure to potential depreciation of the local currencies and some possible deterioration in credit quality. Households in the region are indeed not able to save so much anymore and are more and more depending on loans, while they have accumulated a large proportion of their debt in foreign currency, particularly in the area of mortgages," says Revoltella. The potential demand for housing will support the further development of mortgage business in the CEE countries. Especially the Broader Europe region has the largest potential in this segment. 

On the corporate side, cyclical stabilisation is partially balanced by renewed corporate demand for bank loans. Banks increasingly compete in providing additional services like leasing, cash management and structured finance, which are the main growth drivers for corporate business in CEE. 

Six-month grace period for personal needs loans without mortgage

10.07.2008

July 10, 2008 – UniCredit Ţiriac Bank introduced a six-month grace period for personal needs loans without mortgage. The offer is valid until the 31st of August and will apply to both 5 and 10-year tenor personal needs loans without mortgage and to 10-year refinancing loans.

The product is available with two price structures. The bank’s customers can choose a variable interest and a monthly administration fee applied to the balance, which translate into decreasing monthly payments and faster payment of the principal amount (the Classic structure), and a variable interest rate without a monthly fee (the Constant structure), an option for customers who prefer to pay constant monthly installments. There is also effective the option to change the currency and the price structure during the loan period.

"For the first six months, our clients will only pay the loan interest, which facilitates greatly the payment of the first payments for personal needs loans,” stated Zoltan Major, Vice-president of the Retail Division in UniCredit Tiriac Bank. “Alongside the strategic project for network expansion, we are constantly seeking solutions for an easier access to the bank’s products and services and to further customize them to meet the real needs of the customer."

The bank allows a maximum 60% indebtedness rate for consumer loans, with a maximum EUR 20,000 loan value. 

The PIN code for cards issued by the bank can be changed in the ATM network

07.07.2008

July 7, 2008 – UniCredit Ţiriac Bank added to its ATM network the function of changing the personal identification codes (PIN) for the bank’s issued cards. The option is available free of charge at the over 400 ATMs of the bank and is added to the already existing ATM services, namely the cash withdrawal, checking the account balances, utilities payment and the listing of the last 10 transactions.

The cardholder can change the card’s PIN by a very simple operation. After introducing the card and the original PIN, the cardholder selects the “Change PIN” operation from the list of available operations displayed on the ATM screen. 

"The new function expands our range of free services in the ATM network, so that our customers, especially if they own several cards, get more safety and control over their electronic payment instruments", stated Daniel Ghiulea, Operations Channels Director at UniCredit Ţiriac Bank. "The option to change the PIN is important because it allows a better card use, as passwords will be easier to remember."

Beginning this March, UniCredit Ţiriac Bank provides access to the ATM network of UniCredit Group with the same withdrawal fee as applied by the bank in its own network. Thus, the bank’s customers can use the 15,000 ATMs from the UniCredit Group network in 16 countries, as the standard offer includes a 0.2% cash withdrawal fee, namely a minimum RON 0.5 for debit cards.

UniCredit Group and University of Bologna create first Retail Banking MBA

16.05.2008

·         Tailor-made MBA programme for high qualified future manager

·         Scholarships of UniCredit Group to cover the fee of 25,000 Euro

UniCredit Group, one of the leading banking groups in Europe and the renowned Alma Graduate School of the University of Bologna have created an international Master of Business Administration (MBA) programme to form new talents in the Retail Banking Sector. 

The two “giants” in their respective sectors, training and the banking system, have a precise objective with the MBA: to train new leaders in the Retail sectors for banks and for the financial industry. The intention is to create a disciplinary itinerary which promotes first of all a leadership model based on the values and on the capacity to motivate and involve the others in achieving the objectives. “Managers can only stand for the future company´s success, if they have the know-how and perfect leadership skills”, so Roberto Nicastro, Deputy CEO of UniCredit Group and Head of Retail Division. 

The MBA is open to young people from all over the world who wish to develop a successful career in the retail world, in the banking sector or more in general in the financial industry. The ideal candidates are aged between 25 and 32; have a degree and have worked in a company from a minimum of 3 to a maximum of 5 years, not necessarily in the retail field, and have an excellent knowledge of English. 

The MBA programme will start in October 2008, lasts 12 months of full time work, will be held in English language and covers all relevant fields of Finance & Economics, General Management, Banking Management, Service & Retail Management, Organisational Identity, Corporate Strategy and Business Sustainability. 

For the MBA fees of 25,000 Euro the UniCredit Group offers five scholarships to cover the entire cost of the course; another five of 20,000 Euro and 10 of 15,000 Euro. The candidates may also request “honour loans” of up to 35,000 Euro.

****


About UniCredit Group

With total assets of more than €1,000 billion, ranking among the top financial groups in Europe, UniCredit has a presence in 23 countries, with over 40 million clients, 9,000 branches and some 170,000 employees as of 31 December 2007. 

In the CEE region, UniCredit operates the largest international banking network with over 3,400 branches and outlets, where more than 70,000 employees serve about 27 million customers. The Group operates in the following countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Tajikistan, Turkey and Ukraine.

MasterCard Europe and UniCredit Tiriac Bank reward the passion for football during the UEFA EURO 2008 championship

11.04.2008

·         For each goal scored by Romania and by another eight countries where UniCredit Group is present, the bank transfers money in the accounts linked to the MasterCard UEFA EURO 2008™ cards, activated by a minimum payment of RON 50 to merchants

·         The accumulated amounts can be multiplied by up to 7 times by registration on www.unicredit-mastercard.ro 


11th of April 2008 – UniCredit Ţiriac Bank, supported by MasterCard Europe, launched the first interactive promotion campaign for the football’s fans, bringing them prizes until the end of the UEFA EURO 2008™ championship. The promotion is intended for all persons making transactions of minimum RON 50 until the 30th of June using the MasterCard UniCredit UEFA EURO 2008™ debit or credit card, issued by the bank.

"We launched this campaign with the support of MasterCard Europe for all football fans that we plan to get involved into an innovative interactive campaign to reward their passion for sports and I believe it will make the European football championship even more interesting", stated Răsvan Radu, CEO of UniCredit Ţiriac Bank.

Each transaction of minimum RON 50 to merchants (in shops and on the internet) using the MasterCard UniCredit UEFA EURO 2008™ card issued by the bank may bring the card holders, through a draw, one of the four tickets to the semi-final to be played on the 26th of June 2008. 

Similarly, each payment of minimum RON 100 using that card can bring the card holder one of the VIP packages UEFA EURO 2008™ offered by MasterCard Europe*.

During the UEFA EURO 2008™ championship, UniCredit Ţiriac Bank shall automatically transfer money for each goal scored by the Romanian and by the national teams of the countries where UniCredit Group is present (Italy, Germany, Austria, Croatia, Czech, Poland, Russia and Turkey) – in the card accounts of MasterCard UEFA EURO 2008™ activated by a payment of minimum RON 50 during the promotion. The accumulated amounts can be multiplied by up to 7 times if the Champion is correctly selected, until the 7th of June 2008, on the campaign’s dedicated site – www.unicredit-mastercard.ro .

Also, the first 50 persons to own a MasterCard UEFA EURO 2008™ debit or credit card shall receive a football, and the next 1,000 card holders shall automatically be offered original UEFA EURO 2008™ T-shirts. 

*A VIP package includes two tickets for the semi-final of the UEFA EURO 2008™ Football Championship (game no. 30), two return plane tickets, two-night accommodation, airport-hotel transfer, festive welcome at the hotel reception, transport to the stadium and a surprise present from MasterCard Europe.

# # #

About UniCredit Ţiriac Bank

UniCredit Ţiriac Bank is part of the UniCredit Group network, the largest banking group in Central and Eastern Europe. UniCredit Ţiriac Bank is one of the leading players in the Romanian banking market, with total assets amounting to EUR 3.5 billion (as of 31st of December 2007). UniCredit Ţiriac Bank is a true "one-stop-shop" for financial services, currently benefiting approximately 600,000 customers through its 152 branches. In Romania, the bank provides a wide range of specialized products and services to its customers through its partners, UniCredit Leasing Corporation, CA-IB Securities, CA-IB Romania, UniCredit Insurance Brokers, Pioneer Asset Management, UniCredit Markets and Investment Banking, UniCredit Processes and Administration and HVB Bank for Housing.

UniCredit Tiriac Bank topped 150 units

01.04.2008

1st of April 2008 – UniCredit Ţiriac Bank concludes the first quarter of the year with a network of 152 branches and agencies, after opening 10 new units in March. According to the strategic project for network expansion, the bank shall develop further this year by opening at least 70 units in large and medium-sized towns throughout the country. 

The portfolio of products and services offered by the lending institution in the new branches features consulting and standard banking operations, as well as loans and customized financial solutions. 

The bank uses cross-selling opportunities with other UniCredit branches and joint venture partnerships concluded in Romania, providing added value products and services through its branches.

“Another project of the bank that will help streamline the operations is the development of the self banking concept and the opening, by the end of 2008, of about 30 banking units to incorporate this concept in Bucharest and throughout the country”, stated Robert Şerbănescu, Director for Network Streamlining within UniCredit Ţiriac Bank.
 
In the second half of last year, the bank introduced a new organization model for the branch network by designating branches for retail and, separately, for corporate customers, in Bucharest and in other key towns with a strong economic potential. This process to reorganize the network is part of the UniCredit Group’s plan to improve the workflow in branches and the services for different segments of customers. Thus, at the end of 2007, the bank had 20 branches for corporate customers and the first branch for Private Banking customers.

UniCredit Tiriac Bank Recorded 50% Growth in 2007 Net Profit

14.03.2008

·         The merger between HVB Tiriac Bank and UniCredit Romania was completed

·         A net profit of RON 263.1mn, up 50.3% year-on-year was reported driving ROE to 21.4% reaching its financial targets and outperforming the market


14 March 2008 - UniCredit Tiriac Bank reports a significant 50.3% annual growth in audited net profit (1), reaching RON 263.1mn, holding more than 9% of the preliminary net profit of the Romanian banking system (2). This demonstrates a solid profitability level, growing well above the market, with ROE of 21.4% and ROA of 2.5%.
Gross operating profit is up by 27.1% year-on-year to RON 407mn, driven by 14.1% growth in revenues and 4.8% only in operating costs. This brings about an increase in efficiency with Cost-to-Income ratio improving by 4.7pp to 53.4%, better-off than the system which reports a more than 70% Cost-to-Income ratio. 

“The bank profitability growth especially driven by the Corporate segment and treasury activity is within our targets and exceeds the market level, demonstrating that we are consolidating a strong position in the banking system” said Rasvan Radu, CEO UniCredit Tiriac Bank. “The business and operational projects launched throughout 2007, the network extension and boost of the retail segment will contribute to our future sustainable growth.” 

“The growth of business and revenues recorded in the forth quarter of 2007 and confirmed in the first 2 month of this year, are proof for the ascending trend line in value generation capability of the bank and pay-off for the investments made” said Stanislav Georgiev, CFO of the bank. “Economic value added (EVA) is the main indicator in measuring our performance in the future, incorporating the conventional profit measure and the cost of capital absorbed”.

The asset quality level of the bank remains at healthy level with cost of risk of some 70bp, lower than the market. Capital adequacy of the bank is strong with solvency ratio above NBR norms of 13.4%. Liquidity level of the bank is comfortable as well, beyond the NBR norms . 

The balance sheet total of the bank reached RON 12.8bn, up by 10.7% compared to the end of 2006. Total outstanding loan portfolio, including amounts directly financed by the mother company, was up 37% to RON 10.9bn. Customer deposits grew 14.6% for the year. The bank gained momentum in the forth quarter of the year, when the focus was placed on business and when new value propositions were offered to the market, mainly in the Retail area. The bank recorded a strong acceleration of volume growth in Corporate, soaring by more than 25% in loans and 20% in deposits in the second half of the year only.

The bank ends the year with a branch network of 141 outlets and staff of 2,600 people.

Development

Many business and operational driven projects were launched aimed to provide for the future sustainable growth of the bank. Most of them were concentrated on strengthening the Retail banking business platform. Particular focus was laid on consumer lending, small business banking, banking cards and investment products for private individuals. In corporate area a process of optimization and upgrade of the service and business model was initiated. In the operational area the bank implemented a new integrated IT system. A lot of processes were upgraded to meet the high business and customer requirements in terms of efficiency and convenience. 

Outlook 

“UniCredit Tiriac Bank will focus on organic growth, capitalizing on the market potential and also its strong local and European roots, which will bring long term benefits to our clients” also said Rasvan Radu.
More than 70 outlets will be opened this year. The high volume growth planned will be realized upon adoption of prudent risk management policy and in full compliance with the regulatory norms, Group standards and best international practices. 
UniCredit Tiriac Bank will address the whole spectrum of Retail banking products actively throughout the year, A lot of investments are currently being made in improving service model and service quality. Particular focus in Corporate will be placed on development of relationship management and segment based approach. The bank plans to exploit the cross selling opportunities presented by the other UniCredit specialized businesses and joint ventures in Romania, such as leasing, insurance, asset under management, real estate, other. Special attention will be paid on UniCredit brand reinforcement. Customer and employee satisfaction is becoming main performance indicators for the bank’s managers. Sizeable investments in human resources are planned, aiming to provide for sustainability, higher performance and quality. The bank will carry out an ambitious sponsorship program supporting the community and protecting the environment. 

UniCredit Tiriac Bank was established in the middle of 2007 after a merger between HVB Tiriac Bank (being itself a result of a recent merger in 2006) and UniCredit Romania. Thus, the new bank would leverage on the strength of UniCredit Group, currently the 3rd largest European bank by market capitalization.


(1) All data presented in this document is from the financial statements under IFRS on a stand-alone basis, unless otherwise stated.

(2) National Bank of Romania.

Within the UniCredit Group network, the UniCredit Tiriac Bank customers have the same conditions for cash withdrawals from the bank s ATMs

10.03.2008

10th of March 2008 - UniCredit Ţiriac Bank offers, as a premier, a new service to all its customers who are also card holders – access to the ATM network of UniCredit Group with the same withdrawing fee as charged by the bank in its own network. Thus, the bank’s customers can use the 15,000 ATMs in the UniCredit Group network from the 16 European countries, being charged the standard withdrawing fee of 0.2% minimum RON 0.5 on the debit cards.

”The bank’s customers are also clients of one of the largest banking groups in Europe. We joined this initiative so as to offer a simpler access to the UniCredit Group network and make them feel at home when they use their cards abroad”, stated Zoltan Major, Vice President for Retail in UniCredit Ţiriac Bank.

The holders of cards issued by the UniCredit Ţiriac Bank will be able to make cash withdrawals under the same conditions as in Romania, at the ATMs of the UniCredit Group member banks from Italy, Austria, Germany, Bosnia-Herzegovina, Bulgaria, Croatia, Czech, Hungary, Poland, Russia, Serbia, Slovakia, Slovenia, Turkey, Ukraine. 

Similarly, the customers of other UniCredit banks from these countries will be able to use the ATMs of UniCredit Ţiriac Bank under the same conditions as provided by the issuing bank.

UniCredit Tiriac Bank simplifies the access to loans for retail customers

30.01.2008

30th of January 2008 – After receiving the endorsement of NBR for modifying the lending conditions, UniCredit Ţiriac Bank grants, beginning with the end of January, loans for real estate investments with a downpayment of minimum 15%, compared to 25% before adopting the new norms. The bank increased the maximum indebtment rate to 60% for consumer loans and a maximum of 65% for cosumer loans with mortgage and for all real estate investment loans. 

The maximum indebtment rate allowed is set according to the scoring class established for each customer and the family’s total monthly income available. In addition to the eligible income considered by UniCredit Ţiriac Bank so far when granting a loan (salary, per diem, dividends, copyright, rents and liberal activities), the income from annuities, management remunerations, compensations received by trading companies’ administrators and income from activities conducted abroad shall also be considered eligible.

In case of mortgage loans, in order to work out the repayment capacity, the bank accepts a maximum of 2 co-debtors, namely the spouse or the partner and the parents of one of the spouses, who shall sign the loan contract as co-payers.

For mortgage loans intended for real estate investments and for the consumer loan with mortgage, UniCredit Ţiriac Bank finances maximum 85% of the acquisition price of the property to be bought (house/ apartment/ land), depending on the scoring class and the eligible monthly net income per family, but no more than 85% of the appraisal value for the respective property.

For consumer loans with mortgage, the maximum lending period remained 20 years for loans up to EUR 30,000 and was extended to 25 years for amounts exceeding this limit, up to the maximum ceiling of EUR 125,000. Also, the term for real estate and mortgage loans was extended from 25 to 30 years.

The bank decided to increase the maximum amount for the consumer loan on 10 years from EUR 15,000 to EUR 20,000. Another amendment was brought to the maximum amount for the Mortgage loan intended for buying houses in residential projects funded by the bank, a change from EUR 200,000 to EUR 500,000.

With these changes, UniCredit Ţiriac Bank targets customers such as Romanian citizens and foreign residents in Romania, as well as non-resident Romanian citizens with a good payment history.

Unicredit Tiriac Bank harmonizes the interest rates and the commissions for the retail loan portfolio in RON and EUR

28.01.2008

28th of January 2008 – As a result of the need to harmonize the portfolio of loans granted in the past to retail customers by the three banks (Ţiriac, HVB and UniCredit Romania), but also due to the developments on the financial-banking market, UniCredit Ţiriac Bank harmonized, starting with the 21st of January 2008, the bank’s standard interest rates and commissions of the existing loan portfolio as shown in the table below. 

These changes were communicated to the customers, in writing, at the end of last year but, by mistake, they were also sent to certain customers who were not targeted by the respective changes, as these were operated in the system for the entire database. In the case of customers not affected by these changes, the write-off shall be done in the next ten days. The entire portfolio shall be harmonized by the end of the first quarter of this year.



Type of product

Interest rate (%)

Monthly commission applied to the balance (%)

1.Consumer loan without mortgage

RON

Consumer loan 5 years

7.95

0.5

Consumer loan 8 years

9.95

0.5

Consumer loan 10 years

8.95

0.5

Euro

Consumer loan 5 years

6.95

0.5

Consumer loan 8 years

8.95

0.5

Consumer loan 10 years

7.95

0.5

2. Consumer loan with mortgage

RON

4.95

0.5

Euro

3.95

0.5

3. Loan for housing (Buying/ Building)

RON

4.95

0.5

Euro

3.95

0.5

4. Mortgage loan (Buying/ Building)

Euro

6MEuribor*

0.5


UniCredit Ţiriac Bank is part of the European Central and Eastern network of the UniCredit Group, the largest banking group from Central and Eastern Europe. UniCredit Ţiriac Bank is one of the leading players on the Romanian banking market, with total assets amounting to EUR 3.3 billion (as of 30th September 2007). UniCredit Ţiriac Bank is a true "one-stop-shop" for financial services, currently benefiting about 600,000 customers through 141 branches in 39 counties. The bank provides a wide range of specialized products and services in Romania through its partners, UniCredit Leasing Corporation, CA-IB Securities, CA-IB Romania, HVB Insurance Brokers, Pioneer Asset Management, UniCredit Markets and Investment Banking, UniCredit Produzzioni Accentrate and HVB Bank for Housing. 

UniCredit Tiriac Bank the Best Real Estate Bank in Romania

03.12.2007

3rd of December 2007 - UniCredit Tiriac Bank received the Award for Excellency in Real Estate in 2007 from the prestigious magazine Euromoney, an award designating the best bank on the real estate financing segment in Romania. The Euromoney Awards are granted every year to banks that prove their ability to innovate, react to the market's development pace and maximize their strengths.

UniCredit Tiriac Bank is the most active bank on the market for financing real estate projects in Romania, with a portfolio of more than 450 corporate customers in Real Estate and committed and granted loans in excess of EUR 1 billion. One of the UniCredit Group's objectives is the increase of the international real estate financing operations, concentrating on the markets from Central and Eastern Europe, and especially in Romania.

"We are extremely honored by the award presented to us by Euromoney, certifying the results of our work over the past few years. The prize rewards the efforts of the Real Estate team, exclusively dedicated to this business segment,' stated Antonela Marchievici, Head of the Real Estate Department of UniCredit Tiriac Bank.

The bank got actively involved in the financing of all real estate market segments from Romania, with major projects in its portfolio: retail (ex: malls and hypermarkets from Carrefour, Real and Auchan), industrial (ex. Cefin Logistic Park), offices and residential parks. The financing for the residential sector includes 4,000 housing units in Bucharest and in the rest of the country. Here are some of the projects from Bucharest: Top Nord, Carol Park, Residenz-the German Neighbourhood, Monte Carlo Palace, Orhideea Gardens, Tineretului Project, Alia Apartments Project, Felicity and NewTown Residential. The bank also financed residential projects throughout the country, such as The Ring (Timisoara), Ireland House (Brasov), Conarh (Cluj) and BLOC 04 ARED (ARAD).

This July, the bank signed a joint venture agreement with Pirelli RE, the most important player on the real estate sector from Italy and one of the most important one in Europe. UniCredit Tiriac Bank shall participate with capital in this partnership that will help strengthen the bank's leading position in providing real estate financing services in Romania.

The bank offers integrated services for the financing of residential projects consisting of corporate financing packages (loans for building granted to the company developing the project) and retail (mortgage loans for customers interested in buying new apartments in the financed residential parks).

CEE countries continue their outstanding performance

29.11.2007

·  Financial wealth of CEE households to top at EUR 718 billion in 2007

·  Key drivers: economic growth and improved labour market conditions in combination with limited impact so far from the US subprime crisis

·  With demand for consumption and real estate investment remaining high, growth in household debt will continue to exceed growth in income

Bucharest, November 29, 2007 – All over the CEE region good economic performances and improved labour market conditions are driving fast accumulation of financial wealth creation. “2007 is anticipated to be another record year for financial wealth creation”, so Debora Revoltella, UniCredit Group CEE Chief Economist, reporting on the recent study CEE Households’ Wealth and Debt Monitor. Although rising volatility is given, the economic results in combination with quickly developing capital markets and industry of long-term vehicles secure growth.

The economic experts of UniCredit Group forecast that CEE financial wealth should top at EUR 718 bn this year (roughly 1% of global wealth and 59% of GDP), accelerating by 20% yoy compared to 15% yoy growth registered in 2006. Accumulation of financial wealth has not been sensibly affected so far by the US subprime crisis. Indeed, financial markets in the CEE region have proven to be quite resilient to the recent international turbulences, quickly recovering from the short term shock. The very good economic fundamentals in CEE have promoted and continue to promote stability, although risks have clearly grown.

Good prospects for wealth creation in CEE with an average growth of 14% 
“In the years to come, good economic prospects will continue to support the accumulation of financial wealth, although with some lowering in its dynamic”, so Debora Revoltella. The growth of financial wealth will continue to greatly exceed that of real economy. According to the economic experts from UniCredit Group an average growth of 14% a year in 2008-2009 to reach 64% of GDP by 2009 is expected, with particularly fast dynamic forecasted in Russia (31%), Bulgaria (21%), Romania and Turkey (19%). Estonia and Latvia represent somehow an exception, as the anticipated ‘soft landing’ of the economy will probably affect household saving capacity. This is resulting in only marginal increases in the ratio of financial wealth over GDP in the next two years.

In 2007 on average the peoples’ main desires were consumption and real estate investment. The strong demand for these two accelerators continued to spur increases in the level of household debt, which climbed by 42% in H1 2007 . “Consumption in the region continues to be marked by quickly rising wages, improved labour market conditions and easier access to the credit market”, so Debora Revoltella. At the same time, households are also increasingly investing in their houses, motivated by optimism regarding future development of house prices and fast desired improvement in their standard of living. This sets the stage for another year of vigorous growth in household financial liabilities, forecasted to increase by over 30% yoy, so UniCredit Group Experts.

Household solvency remains good but sensitive
Growth in households lending is expected to continue also in the future, stimulated by the demand for durables and the far from saturated housing market. The significant liquidity shortage and surging risk aversion following the US subprime crisis are however expected to trigger an increase in the cost of refinancing for banks and some re-pricing of risks. This, combined with the widening financing gap at the regional level, increases the likelihood of some credit squeeze, with growth in household liabilities forecasted to stabilise in the 2008-2009 period, falling to an average rate of around 22%.

The still robust expansion in the level of indebtedness is also triggering a deterioration in the household sector’s net financial position. Although the level of household indebtedness remains generally well below the Euro area level, risks have risen. Household solvency has remained good, but sensitivity to shocks (especially in the case of any abrupt correction in real estate prices) has increased due to relatively high leverage ratios forecasted to increase this year to 36% of GDP above the Euro area average of 27%.

Structure of household debt (2006, % of the total) (3)

Portfolio composition of households’ wealth (2006, % of the total) (4)

Investments in insurance products and pension funds are key drivers
“Despite the recent turbulences in international financial markets, we continue to expect in the CEE relative growth of riskier and more profitable forms of investment”, so Debora Revoltella’s remark about the recent turmoil on the financial market. The economic experts from UniCredit Group forecast a dynamic increase in the segment of quoted shares and mutual funds in Slovenia, Croatia and, to less extent, in Bulgaria. There, the local markets continue to be mostly influenced by domestic dynamics. In the rest of the region, some slower growth is anticipated, especially in the segment of equity investments as current trends in global financial markets and some possible downward adjustments in market prices might negatively affect household sentiment.

All over the region investment in insurance products and especially pension funds will continue to be the main driver of financial wealth creation. They are expected to account for around one fourth of new savings flows generated at the regional level in the 2007-2009 period. Particular fast growth in pension funds assets is anticipated in the case of Latvia, Lithuania and Slovakia with a compound annual growth rate (CAGR) close or above 50%. The same counts for Bulgaria, where further restructuring of the pension system – via increases in the contribution rates for the second pillar - will support rapid accumulation in pension schemes (with a CAGR close to 40% in 2007-2009). The pension fund industry represents a promising segment also in Romania, where starting from 2008, a fully funded pension system will begin operating in addition to the recently reformed voluntary pension scheme (in place since May 2007).

About the UniCredit Group
With a current market capitalization of approximately €84 billion (1 October 2007), ranking among the top financial groups in Europe, UniCredit has a presence in 23 countries, with over 40 million clients and 9,000 branches, approximately 170,000 employees and total assets of approximately €1,018 billion (pro forma) as at 30 June 2007. 
Through the merger with Capitalia, effective as of 1 October 2007, UniCredit has significantly strengthened its presence in Italy, which is one of its core markets alongside Germany, Austria and CEE. 
In the CEE region, UniCredit operates the largest international banking network with over 3,700 branches and outlets, where more than 76,000 employees serve approximately 27 million customers. 

Note:
ECE: Bulgaria, Croaţia, Republica Cehă, Estonia, Ungaria, Letonia, Lituania, Polonia, România, Slovacia şi Turcia.
2 - Cifrele se referă numai la creditele acordate de bănci (nu includ leasingul financiar)
3 - Include other loans, overdraft, revolving credit cards and financial leasing.
4 - For Estonia, the aggregate securities and shares include also mutual funds (as in Latvia), while insurance technical reserves also include pension funds.

Positive H1 2007 operational results for UniCredit Tiriac Bank

07.08.2007

·         Total revenues grew by 18% YoY and operating income up by 27% despite merger related efforts

·         Net profit up by 30.3% YoY as compared to H1 2006 combined profit of merged banks due to effective cost management and proving bank’s ability to create value


Bucharest, 7 August 2007
 – UniCredit Tiriac Bank reported good performance indicators, despite merger related efforts, as reflected by the H1 2007 operational results today released by the Bank. 
At the end of H1 2007, the Bank’s total revenues went up by 18%YoY reaching 419 mln RON and operating income grew by 27% reaching 220 mln RON. The value of total assets was stable, amounting to 11.303 bn RON, with a slight decrease by 4.2%YoY as compared to H1 2006 mainly due to RON appreciation.

UniCredit Tiriac Bank registered 152.3 mln RON net profit, 30% more if compared to combined H1 2006 net profit of former HVB Tiriac Bank and UniCredit Romania. The Bank’s gross profit was 185 mln RON, increasing by 35.8% YoY. 

The Return-on-Equity after tax was 23.4%, the cost/income ratio was 47.5%, while the income per employee indicator reached 344,000 RON, 18.1% more Yoy. At the end of June 2007, UniCredit Tiriac Bank had 593,475 clients, 9.7% decrease Yoy mainly due to the closure of dormant accounts.

"This is a good start for UniCredit Tiriac Bank reflecting the achievement of our main objectives”, said Rasvan Radu, Executive President UniCredit Tiriac Bank. Top priorities throughout 2007 will remain the strong client orientation and the enhancement of service quality, a good profitability level and create the ground for the consistent organic growth in the following period”, added Rasvan Radu.

At the end of June 2007, total deposits reached 5.2 bn RON, 7.9% YoY growth. The Bank’s gross loans portfolio was 6.3 bn RON, up 1.5% YoY.

UniCredit Tiriac Bank consolidated its leading position in the real estate financing in July 2007 by signing joint-venture agreement with Pirelli RE, one of the biggest companies in European real estate field. The retail and corporate clients will hence benefit of a fully integrated real estate platform comprising a wide range of financial solutions combined with a full portfolio of high quality real estate products.

The Bank has ambitious plans of organic growth. It has implemented a divisionalisation network strategy to allow focus on each customer segment and will rapidly expand to cover the entire country and consolidate its presence in key cities, in order to serve the areas with high retail potential.

* Figures reported in International Accounting Reporting Standards (IFRS).


About UniCredit Group


Ranking among the top financial groups in Europe, UniCredit has a presence in 20 countries, with over 35 million clients and 7,500 branches, approximately 135 thousand employees and total assets of approximately €869 billion as of 30 June 2007. 

Upon completion of the merger with Capitalia (announced on 20 May 2007), UniCredit will significantly strengthen its presence in Italy, which is one of its key markets alongside Germany, Austria and CEE.

In the CEE region, UniCredit operates the largest international banking network with over 3,100 branches and outlets, where more than 65,000 employees serve approximately 24 million customers. The Group operates in the following countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Kazakhstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.

About UniCredit Tiriac Bank


UniCredit Tiriac Bank is part of the CEE network of UniCredit Group, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is one of the most important players on the Romanian banking market, with total assets of EUR 3.6 billion (figures as of 30 June 2007), with 136 branches in 38 counties, offering to 600,000 customers all financial services as a "one-stop-shop". UniCredit Tiriac Bank offers a wide range of specialized products and services through its partners UniCredit Leasing Corporation, CA-IB Securities, CA-IB Romania, HVB Insurance Brokers, Pioneer Asset Management, UniCredit Markets and Investment Banking, UniCredit Produzzioni Accentrate and HVB Banca Pentru Locuinte.

Pirelli RE 80% and UniCredit Tiriac Bank 20%, joint venture to create Pirelli RE Romania

18.07.2007

·         PIRELLI RE WILL USE ITS OWN BUSINESS MODEL AND ALLIANCE WITH UNICREDIT TIRIAC BANK TO BECOME A LEADER IN THE ROMANIAN MARKET

·         THE JV’S MAIN OBJECTIVES:
- DEVELOP A LOCAL ASSET MANAGEMENT AND SPECIALIZED SERVICES PLATFORM;

- ATTRACT INVESTMENT CAPITAL FROM PRIMARY FOREIGN PLAYERS IN ORDER TO CO- INVEST IN THE DIFFERENT REAL ESTATE SECTORS, WITH A PARTICULAR FOCUS ON RESIDENTIAL DEVELOPMENT PROJECTS

Bucharest, July 18th, 2007 – Pirelli RE, the leading player in the real estate industry in Italy and one of the most important companies in Europe, continues to expand in Central and Eastern Europe with the launch of the activity in Romania in partnership with the UniCredit Group, strengthened also by the growth of Pirelli Pekao Real Estate (75% Pirelli RE and 25% Bank Pekao) in the Polish market (in just over a year of operations the company has more than 80 employees and approximately 300,000 square meters of residential development projects under management). Pirelli RE’s partner in Romania - UniCredit Tiriac Bank is one of the most important players on the country banking market, with total assets of €3.7 billion, over 600,000 customers and with 138 branches.

The joint venture agreement for the set up of Pirelli RE Romania, 80% Pirelli RE and 20% UniCredit Tiriac Bank, was signed today.

The joint venture will focus, on the one hand, on the development of local asset management platforms and specialized services platform and, on the other, on attracting investment capital from primary foreign financial players in order to co-invest in the different real estate sectors with a particular focus on residential development projects. The investment of both Pirelli RE and UniCredit Tiriac Bank in the real estate projects and the asset management activities will guarantee aligned interests.

Pirelli RE Romania will manage and develop areas and properties, supplying specialized services to both its own portfolios and those of third party clients. Thanks to the expertise of UniCredit Tiriac Bank, the company will expand the range of services offered to include retail banking and insurance services for homeowners and buyers. 

“Through the implementation of its own business model and alliances with this important partner, we aim to become a leader on the Romanian market, offering quality, design conscious, and eco-sustainable real estate products. We are very delighted to collaborate with UniCredit Tiriac Bank, one of the most important banks in the country and we are sure that we will bring value on the local real estate market due to our extensive experience in the sector and local top management know-how,” declared Carlo A. Puri Negri, CEO of Pirelli RE. 

“The partnership with Pirelli Re, one of the strongest players in the European real estate industry, will further consolidate our Bank’s position as the leading provider of real estate financing products in Romania,” declared Rasvan Radu, CEO of UniCredit Tiriac Bank. “Our clients will benefit from a fully integrated real estate platform comprising a wide range of financial solutions combined with a full portfolio of high quality real estate products,” concluded Radu. 

Pirelli RE Romania’s strategy will be defined and implemented by a Supervisory Board comprised of 5 members. Pirelli RE Romania’s Board will be comprised of Carlo A. Puri Negri, Olivier de Poulpiquet and Enrico Signori of Pirelli RE and Rasvan Radu and Marco Cravario of UniCredit Tiriac Bank. 

Salans acted as legal advisors to Pirelli RE in Romania. 


# # #

The Romanian real estate market features an interesting growth prospective, in 2005 real estate investments amounted to approximately € 250 million and in 2007 it is estimated that they will reach € 500 million. 
The residential sector, in particular, has great growth potential as a vast urban renewal process is underway and the population is increasing at an average annual rate of 1.4%. The middle class’s demand, in particular, is increasing while supply is diminishing; it is estimated that there will be a shortage of 700,000-1,000,000 housing units over the next few years. Housing prices in Bucharest have increased 20% since 2006, the average price for apartments is between € 1,000 and € 1,600 per square meter and in the case of luxury homes the price reaches between € 2,000 and € 3,000 per square meter. Last year, 19 residential projects were announced in the capital, which should result in an estimated 11,000 additional housing units over the next 2-3 years. Residential development projects in other districts, including Pipera, Trafic Greu, Militari and Pantelimon- Colentina, are also generating great interest. 

There is also a shortage of quality product and high demand in the office sector. Currently in Bucharest office spaces occupy some 900,000 square meters, approximately 250,000 is classified as Class A. Romania is the European Union country with the lowest vacancy rates, for the prime locations the rate is around 1.5% while for secondary locations it reaches 14%. The average yield of office rentals is about 7.5%.
Last year a number of shopping centers were opened in secondary cities, while there was a robust demand for commercial spaces in the capital, particularly from banks. 

# # #

About Pirelli RE

Pirelli RE (PRE) is the leading player in the real estate industry in Italy and one of the most important in Europe, with assets under management exceeding EUR 14.5 billion (market value end 2006). Pirelli RE is a management company which manages special purpose funds and investment vehicles owner of real estate and of non performing loans portfolios, investing through minority stakes (investment & asset management activity) and providing these and other clients with a full range of real estate specialist services (service provider activity), both directly than in Italy with the franchising distribution network. An innovative business model, high standards, flexible organizational structure and constant improving of the key competences are the factors that contributed to the achievement of its leading position in the real estate industry. 
Pirelli RE intends to replicate its business model, which has been very successful in Italy, primarily in Central and Eastern European countries, where the expected economic growth is above European average, with a relatively low risk. The Group started its internalization process in 2006 entering Poland - with Pirelli Pekao Real Estate, participated by Bank Pekao - and Germany - where it acquired DGAG and BauBeCon. Over 25% of real estate assets are already invested outside of Italy.
Pirelli RE operates throughout Italy, with headquarters in Milan, Rome and Naples, in Germany and in Poland with more than 2,500 employees. Listed on the Stock Exchange since June 2002, the company is controlled by Pirelli & C. SpA with a 50.3% stake and it is the first Italian real estate company by market cap, higher than EUR 2 billion.

About UniCredit Tiriac Bank

UniCredit Tiriac Bank is part of the CEE network of UniCredit Group, the largest banking group in Central and Eastern Europe. UniCredit Tiriac Bank is one of the most important players on the Romanian banking market, with total assets of EUR 3.7 billion (figures as of 31 March 2007), with 138 branches in 38 counties, offering to over 600,000 customers all financial services as a "one-stop-shop". UniCredit Tiriac Bank offers a wide range of specialized products and services through its partners UniCredit Leasing Corporation, UniCredit Securities and CA-IB Securities, CA-IB Romania, HVB Insurance Brokers, Pioneer Asset Management, UniCredit Markets and Investment Banking, UniCredit Produzzioni Accentrate and HVB Banca Pentru Locuinte. 

Fitch withdraws ratings on UniCredit Romania; affirms UniCredit Tiriac at 'A-'

12.06.2007

Fitch Ratings-London/Istanbul-11 June 2007: Fitch Ratings has today affirmed the ratings of UniCredit Tiriac Bank ("UniCredit Tiriac", formerly Banca Comerciala HVB-Tiriac) at Issuer Default 'A-' (A minus), Short-term 'F2' and Support '1'. The Individual 'D' rating is on Rating Watch Evolving. The Outlook on the Issuer Default rating ("IDR") is Stable.

At the same time, it has affirmed UniCredit Romania's ratings at IDR 'A-' (A minus) with Stable Outlook, Short-term 'F2', Individual 'D' and Support '1' and simultaneously withdrawn them. This rating action follows the merger between Banca Comerciala HVB-Tiriac and UniCredit Romania to form UniCredit Tiriac. UniCredit Tiriac is 56%-owned by Bank Austria Creditanstalt AG (rated 'A' on Positive Outlook, itself 96.4%- owned by UniCredito, rated 'A+' on Positive Outlook). The IDR, Short-term and Support ratings are based on the potential support UniCredit Tiriac can expect to receive from its ultimate majority shareholder UniCredito, and are constrained by the Country Ceiling for Romania at 'A-' (A minus). The Individual rating is on Rating Watch Evolving until a full review of the merged entity is performed. UniCredit Tiriac is now the fourth-largest bank in Romania, with a market share of around 6.8% of system assets. Other shareholders include Mr. Tiriac (indirectly 40%) while the remainder is widely held.

Contact: 
Tim Beck, London, 
Tel: +44 20 7417 3460; 

Gulcin Orgun, Istanbul, 
+90 212 279 1065.

Media Relations: 

Julian Dennison, London, 
Tel: +44 20 7862 4080.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

The UniCredit Tiriac Bank image campaign promotes universal values

11.06.2007

Bucharest, 11th of June 2007 - UniCredit Tiriac Bank started the second stage of the image campaing, with a totally new concept for the banking advertising landscape. Intended to last until the 31st of July this year, the campaign translates the behaviour of UniCredit Tiriac Bank's employees during their free time into values that our customers expect to see when entering the bank.

The completion of the merger was highlighted during the first week of operation of the new bank by posting a unique message, a simple mathematic formula (UniCredit Romania + HVB Tiriac = UniCredit Tiriac Bank).

The second stage of the communication campaign shall be focused on the values that make up the identity of UniCredit Tiriac Bank. Consulting, because the bank provides advice and solutions before selling, Respect, because it treats the relation with the customers with the proper respect, and Transparency because it clearly and fully conveys all the information about the prducts and services.

The messages shall be conveyed over a wide selection of mass communication channels (press, tv, street boards in major towns and on the Romanian and Bulgarian seaside).

The campaign concept started from the idea that a bank's image is given by the behaviour, the professionalism and the attitude of the people representing it, who are nothing else but its ambassadors. The key of the campaign consisted in the very values of UniCredit Tiriac Bank - respect, transparency and importance given to consulting - therefore, the message is as authentic as possible. The main characters in the 3 TV spots are UniCredit Tiriac Bank employees, people who interact daily with the bank's customers for consulting and selling of products and services.

This image campaign is twofold: builds the identity of UniCredit Tiriac Bank and strengthens the feeling of belonging to an institution that values verticality and common sense - therefore playing a significant role in the internal communication, to the employees, of values adopted across the UniCredit Group.

The campaign's creative part bears the signature of Headvertising, and the media plan is implemented by Mediacom.

# # #

About UniCredit Group
UniCredit Group is one of the leading players on the European market of financial services. It serves over 35 million customers across Europe, through its 7,000 banking units in 20 countries and is by far the first in the ranking of banks from Central and Eastern Europe, with over 3,100 branches, where 65,000 employees attend to 24 million customers. UniCredit has total assets of EUR 846,4 billion and market capitalization of EUR 70 billion.

In Central and Eastern Europe, the UniCredit Group conducts banking operations in the following countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine. In addition to these, there are also the key European markets, Italy, Austria and Germany.

About UniCredit Tiriac Bank
UniCredit Tiriac Bank is part of the Central and Eastern European network of UniCredit Group, the world's strongest financial group present in the ranking of the first five banks in Romania. 
The new bank has net total assets of EUR 3.7 billion (as of 31st March 2007), providing products and services to over 600,000 customers through a network currently consisting of 134 branches in 34 key towns in Romania.

UniCredit Group is also present in Romania through UniCredit Leasing Corporation, UniCredit Securities and CA-IB Securities, CA-IB Romania, HVB Insurance Brokers, Pioneer Asset Management, UniCredit Markets and Investment Banking, UniCredit Produzzioni Accentrate and HVB Bank for Housing

http://www.unicredit-tiriac.ro/about-us/board

The new management structure of UniCredit Tiriac Bank 
The new management structure of UniCredit Tiriac Bank(*) was appointed at the Shareholders’ General Assembly from the 17th of April 2008. According to the dualist system (Law 31), it consists of the Supervisory Board and the Executive Board, whose members are also members in the Supervisory Board.

The members of the Supervisory Board of UniCredit Tiriac Bank elected at the SGA were:

• M. Corneliu-Dan PASCARIU 
• Mrs. Friederike KOTZ 
• Mrs. Ileana- Anca IOAN 
• M. Peter KOOB 
• M. Florian Raimund KUBINSCHI 
• M. Carmine FERRARO 
• M. Robert ZADRAZIL. 
• M. Federico GHIZZONI 
• M. Carlo VIVALDI 
• M. Heinz MEIDLINGER

The Supervisory Board of UniCredit Tiriac Bank at the meeting held on the 17th of April 2008 approved the election of M. Dan Corneliu PASCARIU as President of the Supervisory Board of UniCredit Tiriac Bank and the appointment of M. Catalin Rasvan RADU as President of the Executive Board (Chief Executive Officer). 

The Board Members were appointed as follows:

• Catalin Rasvan RADU, CEO/ Executive President of the Bank 
• Zoltan MAJOR, Executive Vice-President 
• Melih MENGU, Executive Vice-President
• Armin HUBER, Executive Vice-President
• Stanislav Goranov GEORGIEV, Executive Vice-President
• Darko FIJAN, Executive Vice-President
• Daniela ROHAN, Executive Vice-President

(*)the authorizing process by the National Bank of Romania is in progress

UniCredit Tiriac Bank - Consultancy, Transparency, Respect

01.06.2007

The merger of the UniCredit Group banking subsidiaries in Romania, HVB Tiriac Bank and UniCredit Romania finalised by creating a new financial institution, UniCredit Tiriac Bank. The new Bank starts its activity with a new vision for client servicing, competitive products and services at international standards, all the advantages provided by a wider network and continuous growth plans. Following the international merger between HVB and UniCredit two years ago, the merger in Romania is one of the first finalized in the CEE region. 

The new bank’s offer combines the strengths and the best practice of Banca Tiriac, HVB Bank and UniCredit Romania. HVB Bank had solid partnerships with large corporates and multinationals, having a significant portfolio of German and Austrian clients, and a solid Private Banking portfolio. Banca Tiriac was particularly strong on the individual customers segment and SMEs, while UniCredit Romania focused on Romanian medium sized companies as well as Italian and Turkish investors. 

A strong management team was selected to head the new bank. The Management Board consists of Rasvan Radu, CEO; Melih Mengu, Vicepresident responsible for the Corporate Business; Andreas Gschwenter, Vicepresident Head of Global Business Services; Marco Cravario, Vicepresident Chief Financial Officer; Armin Huber, Vicepresident responsible with risk . Dan Pascariu is the Chairman of the Board of Administration.

”We went through this challenging triple merger along with our clients, and now we firmly believe that more than the financing and asset management, a solid bank-client relationship can only be built based on mutual fairness and trust”, declared Rasvan Radu, CEO UniCredit Tiriac Bank. “In a competitive business environment, the quality of services will make a difference, therefore UniCredit Tiriac will put an emphasis on consultancy, on advising before selling”, added Radu. 

“The most important aspect was to ensure that the client doesn’t feel the bank undergoes a merger”, said Dan Pascariu Chairman of the Board UniCredit Tiriac Bank. “The merger itself was built on the idea of taking the best elements from each bank, so at the end of this process the client can only benefit”, concluded Pascariu. 

At the end of Q1 2007, the merged banks had registered a combined RON 83 mn gross profit (+51% as compared with the merged banks’ results the previous year), total revenues of RON 197 mil (+17.7% to Q1 2006) and total assets worth RON 12.07 billion (EUR 3.7 bn). These results prove that the banks' efforts involved in the development of the integration process were well balanced between the legal and technical merger, and the business objectives. 

UniCredit Tiriac Bank is a universal bank with ambitious objectives in delivering high quality products and services to individual clients, private customers, small and mid sized businesses, as well as large Romanian and multinational corporations. UniCredit Tiriac will be close to its more than 600,000 customers through an extensive network of 132 branches in 34 counties. Moreover, clients will be able to use cross-border business service throughout the Group network.


About UniCredit Group

The Group collectively operates the largest international banking network in Central and Eastern Europe with over 3,100 business units. More than 65,000 employees serve approximately 24 million customers. 
With a market capitalisation of EUR 70 billion UniCredit Group is one of the largest banking groups in Europe. It has operations in 20 countries and employs 142,000 staff who serves 35 million clients. UniCredit Group had total assets of around EUR 846.4 billion as of 31 March 2007.

The group operates in the following countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine. Within UniCredit Group, Bank Austria Creditanstalt (BA-CA) is responsible for the banking activities in CEE (excluding Poland and Ukraine).

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