UniCredit Ţiriac Bank is a member of UniCredit Group, a major international financial institution, with a network of over 10,000 branches in 27 countries, over 40 million customers worldwide and a strong regional presence in Central and Eastern Europe.
Unicredit Tiriac Bank is the result of successive mergers taking place on the Romanian banking market, and it currently combines the strengths and best practices of HVB Bank, Ion Tiriac Commercial Bank, Banca di Roma, and Unicredit Romania.
• In August 2005, a merger agreement was signed by HVB Bank Romania (with local presence since 1998) and Ion Ţiriac Commercial Bank (founded in 1990 by Mr. Ion Ţiriac). The entire merger process was completed in September 2006.
• In October 2006, a project of merger between HVB Ţiriac Bank and UniCredit Romania was launched. This process was completed in June 2007, when the new entity UniCredit Ţiriac Bank became operational.
• In October 2007, the process of merger between UniCredit Group and Capitalia was finalized, followed by the local integration of Banca di Roma (owned by Capitalia) operations in UniCredit Ţiriac Bank.
After the merger process, Mr. Ion Ţiriac continues to be an important shareholder.
UniCredit Ţiriac Bank combines the strong points and best practices of Ţiriac Bank, HVB Bank and UniCredit Romania. HVB Bank had important partnerships with large companies and multinationals, German and Austrian clients, as well as Private Banking clients. Ţiriac Bank was a strong player especially in the private individuals and SME sector, and UniCredit Romania was focused mainly on medium-sized Romanian companies, as well as on investors from Italy and Turkey.
The new bank began its activity with a new vision to attract customers through competitive products and services at international standards, an extensive network of units, local market knowledge and the experience of a major banking group.
Immediately after the merger, in late 2007, Unicredit Tiriac Bank reported an increase of 50, 3% of net profit, compared to the previous year. And this was only the beginning ...
At the end of 2006, the combined income resulted after the merger process of HVB Ţiriac Bank and UniCredit Romania grew by almost 15% compared to 2005, and also operating income increased by 10%, despite the impact of non-recurring costs related to the fusion.
HVB Ţiriac Bank made a gross profit of 195 million Romanian lei, 21.9% more than the previous year (11.8% less than 2005 if non-recurring expenses linked to merger and integration are considered). UniCredit Romania made a gross profit with an annual growth of 125% compared to 2005, reaching 15 million Romanian lei.
In 2007, UniCredit Ţiriac Bank had an annual increase of 50.3% net profit reaching 263.1 million Romanian lei. The gross profit also increased by 27.1% compared to the previous year (407 million lei), this being determined by a growth of 14.1% in revenue and an increase of 4.8% in operating costs.
Today, as one of the top 5 players of the local specialized market, Unicredit Tiriac Bank distinguishes itself by customized solutions, dynamism and safety.
UniCredit Tiriac offers, through more than 240 branches and over 3,000 employees, products and services to international standards, complete and comprehensive financial solutions. The bank’s Retail Division offers products, services and financial solutions designed for individuals, SME businesses and freelancers: current account operations, loans, deposits, cards, packages of services and products, investment funds, MoneyGram, and Online Banking.
The Corporate Division offers via a dedicated network of branches complex financial products, services and solutions at international standards, created for medium-sized and large companies, multinational companies and public sector, with its main clients operating in the following fields: oil industry, energy, construction, food industry, machinery, metallurgy and infrastructure. The bank’s services include financing products and services, cash management, trade finance, real estate, treasury, custody and syndicated products.
Moreover, UniCredit Ţiriac Bank offers cross-border solutions, through which clients’ banking relations can be organized in multiple countries, allowing them to benefit of the same quality services as in their own country. UniCredit Ţiriac Bank is always at the disposal of all clients from Romania, Austria, Italy, Germany, Central and Eastern Europe and the rest of the world, having a solid geographical presence upon which we can continue to build this success banking story.
For UniCredit Ţiriac Bank, the most important goal is the success of its clients and the added value offered to them. Our banking consultants have the necessary expertise in order to offer excellent banking solutions to its clients in Romania and abroad, building together with them a professional bond based on mutual trust.
Trust is built upon the competence of the bank’s consultants, client service orientation and the capacity to identify client’s requirements in a very short time.
