With the successful integration of its entities earlier this year and the implementation of a new high-tech IT system throughout the whole banking network, the UniCredit Group became the main provider of a vast diversity of financial services.
In addition to the leading banking businesses through UniCredit Bulbank, the group includes the biggest leasing company, UniCredit Leasing, the biggest factoring company, UniCredit factoring, and the number one position in mutual funds with more than Lv130m (€66.5m) in assets.
The combined new bank is market leader in total loans at Lv4.5bn, being the main financing institution for business in Bulgaria with Lv2.6bn in loans to companies. The new bank is also the leader in deposits from customers (Lv5.3bn) and loans to small businesses (Lv1.9bn).
The merged entity, UniCredit Bulbank, posted integrated net profits of Lv182m at year-end 2006, an 89.3% increase over the previous year providing a 17.85% RoE.
“The success of UniCredit Bulbank is in its clear strategic orientation: It is the strongest universal Bulgarian bank, within a European banking group, with an ambitious growth strategy in servicing individual clients, private customers, SMEs, and larger domestic and multinational corporates. Customer satisfaction is the key driver of the bank’s business activities”, says Levon Hampartzoumian, chairman of the management board and CEO at UniCredit Bulbank.
