HVB and Tiriac banks own assets of more than 9 billion RON

The total value of joint assets belonging to HVB Bank and Banca Tiriac have topped nine billion RON. With 6.3 bln RON, HVB recorded higher assets than in 2004 while Tiriac reported 3.1 bln RON. In 2005, the total profit of the two banks exceeded 200 mln RON.

HVB boasted a 147 mln RON profit and 398 employees in a network of 14 units and 50171 customers. Banca Tiriac recorded 61 mln Ron profit, and operated a network of 68 units and 1191 employees, whereas customers reached 725 000.

Incomes, customers, loans soared for HVB in 2005 with more than 100 per cent. The number of Online B@nking users increased with 260 per cent compared to 2004.

In august 2005, Bank Austria Creditanstalt (BA-CA) and Banca Tiriac decided to merge HVB Bank Romania and Banca Tiriac. Groundwork started on September 1, but the banks operate deals separately. The new entity will hold 7.5 per cent of the market share, ranking 4 on the Romanian banking market.

Starting November 2005, HVB Bank Romania and Banca Tiriac became subsidiaries of UniCredit Group that boasts total assets of more than 750 bln Euro.