UniCredit Bank Serbia

UCI Serbia's net interest margin fell 8.54% to 3.49% in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia's net interest margin amounted to 3.49% in 2017, down from 3.82% compared to the previous year. Hist...

UCI Serbia's customer loans rose 15.5% to RSD 240,608 mil in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia's customer loans reached RSD 240,608 mil in 2017, up 15.5% compared to the previous year. Serbian banking...

UCI Serbia's customer deposits rose 4.73% to RSD 186,659 mil in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia's customer deposits reached RSD 186,659 mil in 2017, up 4.73% compared to the previous year. Serbian bank...

Profit Statement 2015 2016 2017
Net Interest Income RSD mil 12,304 12,326 12,364
Fee Income (As % Of Revenues) % 16.0 16.2 17.2
Other Income RSD mil 2,017 1,761 2,089
Total Revenues RSD mil 17,049 16,818 17,459
Staff Cost RSD mil 2,356 2,753 2,895
Operating Profit RSD mil 10,353 9,605 9,921
Provisions RSD mil 3,766 3,012 2,627
Net Profit RSD mil 6,366 6,273 6,782
Balance Sheet 2015 2016 2017
Interbank Loans RSD mil 8,468 18,490 11,885
Customer Loans RSD mil 180,375 208,339 240,608
Debt Securities RSD mil 72,469 78,679 84,531
Total Assets RSD mil 308,284 337,402 370,780
Shareholders' Equity RSD mil 61,414 64,860 70,144
Interbank Borrowing RSD mil 82,818 86,461 106,676
Customer Deposits RSD mil 155,008 178,232 186,659
Issued Debt Securities RSD mil 3,653 3,082 2,718
Ratios 2015 2016 2017
ROE % 10.9 9.94 10.0
ROA % 2.22 1.94 1.92
Costs (As % Of Assets) % 2.33 2.23 2.13
Costs (As % Of Income) % 39.3 42.9 43.2
Capital Adequacy Ratio % 19.6 17.2 18.7
Net Interest Margin % 4.29 3.82 3.49
Loans (As % Of Deposits) % 116 117 129
NPLs (As % Of Loans) % 16.9 11.2 5.61
Provisions (As % Of NPLs) % 61.5 65.2 68.2
Growth Rates 2015 2016 2017
Total Revenue Growth % 18.9 -1.35 3.81
Operating Cost Growth % 20.7 7.71 4.52
Operating Profit Growth % 17.8 -7.22 3.29
Net Profit Growth % 16.5 -1.47 8.11
Customer Loan Growth % 9.33 15.5 15.5
Total Asset Growth % 16.2 9.45 9.89
Customer Deposit Growth % 15.3 15.0 4.73
Shareholders' Equity Growth % 11.1 5.61 8.15
Employees 1,145 1,241 1,286

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summary Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                            
Net Interest Income RSD mil               8,664 9,373 10,149 10,675 12,304    
Total Revenues RSD mil               11,411 12,612 13,513 14,336 17,049    
Operating Profit RSD mil               7,565 8,140 8,703 8,790 10,353    
Net Profit RSD mil               4,540 4,400 3,832 5,465 6,366    
balance sheet                            
Interbank Loans RSD mil               40,332 44,594 14,973 10,632 8,468    
Customer Loans RSD mil               131,157 152,090 144,634 164,982 180,375    
Debt Securities RSD mil               19,963 34,408 48,847 56,142 72,469    
Total Assets RSD mil               198,568 243,554 251,295 265,272 308,284    
Shareholders' Equity RSD mil               42,321 45,808 50,525 55,258 61,414    
Interbank Borrowing RSD mil               71,767 87,120 90,876 70,299 82,818    
Customer Deposits RSD mil               79,576 104,572 104,777 134,460 155,008    
Issued Debt Securities RSD mil               3,142 4,376 3,927 3,360 3,653    
ratios                            
ROE %               12.2 9.98 7.95 10.3 10.9    
ROA %               2.48 1.99 1.55 2.12 2.22    
Costs (As % Of Assets) %               2.10 2.02 1.94 2.15 2.33    
Costs (As % Of Income) %               33.7 35.5 35.6 38.7 39.3    
Capital Adequacy Ratio % ... ...           21.5 18.5 23.1 20.4 19.6    
Net Interest Margin %               4.74 4.24 4.10 4.13 4.29    
Interest Income (As % Of Revenues) %               75.9 74.3 75.1 74.5 72.2    
Fee Income (As % Of Revenues) %               14.5 15.1 15.3 15.8 16.0    
Staff Cost (As % Of Total Cost) %               44.0 44.0 41.3 38.8 35.2    
Equity (As % Of Assets) %               21.3 18.8 20.1 20.8 19.9    
Loans (As % Of Deposits) %               165 145 138 123 116    
Loans (As % Assets) %               66.1 62.4 57.6 62.2 58.5    
NPLs (As % Of Loans) % ... ...           9.62 12.1 17.1 16.0 16.9    
Provisions (As % Of NPLs) % ... ...           50.0 52.2 55.4 63.0 61.5    
income statement Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                            
Interest Income RSD mil               14,128 16,365 16,550 16,376 17,535    
Interest Cost RSD mil               5,465 6,992 6,401 5,701 5,231    
Net Interest Income RSD mil               8,664 9,373 10,149 10,675 12,304    
Net Fee Income RSD mil               1,659 1,907 2,069 2,270 2,727    
Other Income RSD mil               1,088 1,332 1,295 1,391 2,017    
Total Revenues RSD mil               11,411 12,612 13,513 14,336 17,049    
Staff Cost RSD mil               1,692 1,967 1,986 2,154 2,356    
Depreciation RSD mil               351 392 491 531 532    
Other Cost RSD mil               1,802 2,113 2,332 2,861 3,808    
Operating Cost RSD mil               3,846 4,472 4,810 5,546 6,696    
Operating Profit RSD mil               7,565 8,140 8,703 8,790 10,353    
Provisions RSD mil               2,519 3,219 5,004 3,111 3,766    
Extra and Other Cost RSD mil               0 0 0 0 0    
Pre-Tax Profit RSD mil               5,047 4,922 3,699 5,680 6,586    
Tax RSD mil               506 522 -132 215 220    
Minorities RSD mil               0 0 0 0 0    
Net Profit RSD mil               4,540 4,400 3,832 5,465 6,366    
growth rates                            
Net Interest Income Growth % ...             31.5 8.18 8.29 5.18 15.3    
Net Fee Income Growth % ...             34.0 15.0 8.45 9.76 20.1    
Total Revenue Growth % ...             33.3 10.5 7.14 6.09 18.9    
Operating Cost Growth % ...             14.9 16.3 7.55 15.3 20.7    
Operating Profit Growth % ...             45.1 7.60 6.92 1.00 17.8    
Pre-Tax Profit Growth % ...             26.6 -2.48 -24.8 53.5 16.0    
Net Profit Growth % ...             26.4 -3.09 -12.9 42.6 16.5    
market share                            
Market Share in Revenues %               6.92 7.46 8.31 8.21 9.29    
Market Share in Net Profit % ...             363 37.8 ... 240 85.5    
Market Share in Employees % ... ...           3.34 3.55 3.97 4.34 4.72    
Market Share in Branches % ... ...           3.15 3.34 3.72 3.97 4.10    
balance sheet Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                            
Cash RSD mil               3,912 9,064 39,330 29,942 43,747    
Interbank Loans RSD mil               40,332 44,594 14,973 10,632 8,468    
Customer Loans RSD mil               131,157 152,090 144,634 164,982 180,375    
Retail Loans RSD mil ... ... ... ...       30,061 32,759 36,438 44,241 49,886    
Corporate Loans RSD mil ... ... ... ...       93,745 112,822 115,832 128,753 124,121    
Debt Securities RSD mil               19,963 34,408 48,847 56,142 72,469    
Fixed Assets RSD mil               1,986 2,152 2,047 2,106 2,116    
Total Assets RSD mil               198,568 243,554 251,295 265,272 308,284    
Shareholders' Equity RSD mil               42,321 45,808 50,525 55,258 61,414    
Of Which Minority Interest RSD mil               0 0 0 0 0    
Liabilities RSD mil               156,247 197,746 200,771 210,014 246,870    
Interbank Borrowing RSD mil               71,767 87,120 90,876 70,299 82,818    
Customer Deposits RSD mil               79,576 104,572 104,777 134,460 155,008    
Retail Deposits RSD mil ... ...           29,741 36,245 37,429 46,590 51,725    
Corporate Deposits RSD mil ... ...           44,282 58,563 59,112 77,537 92,735    
Sight Deposits RSD mil ... ... ... ... ... ... ... ... ... 50,459 64,075 88,754    
Term Deposits RSD mil ... ... ... ... ... ... ... ... ... 54,318 70,385 65,931    
Issued Debt Securities RSD mil               3,142 4,376 3,927 3,360 3,653    
Other Liabilities RSD mil               1,762 1,678 1,191 1,896 5,390    
asset quality                            
Non-Performing Loans RSD mil ... ...           13,253 19,652 27,385 29,323 34,006    
Gross Loans RSD mil ... ...           137,781 162,347 159,818 183,499 201,280    
Total Provisions RSD mil               6,624 10,257 15,184 18,467 20,905    
growth rates                            
Customer Loan Growth % ...             14.2 16.0 -4.90 14.1 9.33    
Retail Loan Growth % ... ... ... ... ...     8.54 8.98 11.2 21.4 12.8    
Corporate Loan Growth % ... ... ... ... ...     16.9 20.4 2.67 11.2 -3.60    
Total Asset Growth % ...             18.9 22.7 3.18 5.56 16.2    
Shareholders' Equity Growth % ...             32.0 8.24 10.3 9.37 11.1    
Customer Deposit Growth % ...             14.0 31.4 0.196 28.3 15.3    
Retail Deposit Growth % ... ... ...         5.62 21.9 3.27 24.5 11.0    
Corporate Deposit Growth % ... ... ...         16.1 32.3 0.938 31.2 19.6    
market share                            
Market Share in Customer Loans %               6.60 6.76 6.55 6.92 7.16    
Market Share in Corporate Loans % ... ... ... ...       9.21 10.1 11.4 13.3 12.5    
Market Share in Consumer Loans % ... ... ... ...       5.00 5.02 5.41 6.11 6.57    
Market Share in Total Assets %               6.84 7.71 7.98 8.02 9.00    
Market Share in Customer Deposits %               5.74 6.83 6.57 7.83 8.47    
Market Share in Retail Deposits % ... ...           3.48 3.67 3.66 4.25 4.57    
Market Share in Corporate Deposits % ... ...           10.5 13.6 13.8 15.5 16.1    
ratios Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                            
ROE %               12.2 9.98 7.95 10.3 10.9    
ROA %               2.48 1.99 1.55 2.12 2.22    
Costs (As % Of Assets) %               2.10 2.02 1.94 2.15 2.33    
Costs (As % Of Income) %               33.7 35.5 35.6 38.7 39.3    
Capital Adequacy Ratio % ... ...           21.5 18.5 23.1 20.4 19.6    
Net Interest Margin %               4.74 4.24 4.10 4.13 4.29    
Interest Spread % ...             3.98 3.45 3.48 3.56 3.82    
Asset Yield %               7.73 7.40 6.69 6.34 6.11    
Cost Of Liabilities % ...             3.75 3.95 3.21 2.78 2.29    
Interest Income (As % Of Revenues) %               75.9 74.3 75.1 74.5 72.2    
Fee Income (As % Of Revenues) %               14.5 15.1 15.3 15.8 16.0    
Other Income (As % Of Revenues) %               9.54 10.6 9.58 9.70 11.8    
Cost Per Employee USD per month ... ...           1,967 1,848 1,858 1,800 1,623    
Cost Per Employee (Local Currency) RSD per month ... ...           144,333 162,578 158,215 164,809 171,469    
Staff Cost (As % Of Total Cost) %               44.0 44.0 41.3 38.8 35.2    
Equity (As % Of Assets) %               21.3 18.8 20.1 20.8 19.9    
Loans (As % Of Deposits) %               165 145 138 123 116    
Loans (As % Assets) %               66.1 62.4 57.6 62.2 58.5    
NPLs (As % Of Loans) % ... ...           9.62 12.1 17.1 16.0 16.9    
Provisions (As % Of NPLs) % ... ...           50.0 52.2 55.4 63.0 61.5    
Provisions (As % Of Loans) %               5.05 6.74 10.5 11.2 11.6    
Cost of Provisions (As % Of Loans) %               2.05 2.27 3.37 2.01 2.18    
other data Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                            
Branches ... ...           75.0 75.0 74.0 71.0 71.0    
Employees ... ...           977 1,008 1,046 1,089 1,145    
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ... ... 48.2 47.7 57.3    

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UCI Serbia's net profit rose 8.11% to RSD 6,782 mil in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia made a net profit of RSD 6,782 mil in 2017, up 8.11% compared to the previous year. This implies a return on equity of 10.0%. Historically, the bank’s net profit reached an all time high of RSD 6,782 mil in 2017 and an all time low of ...

UCI Serbia's employees rose 3.63% to 1,286 in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia employed 1,286 persons in 2017, up 3.63% when compared to the previous year. Historically, the bank's workforce hit an all time high of 1,286 persons in 2017 and an all time low of 651 in 2006. Average cost reached USD 1,741 per month per em...

UCI Serbia's total revenues rose 3.82% to RSD 17,459 mil in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia generated total banking revenues of RSD 17,459 mil in 2017, up 3.82% compared to the previous year. Serbian banking sector banking sector generated total revenues of RSD 197,856 mil in 2017, up 7.42% when compared to the last yea...

UCI Serbia's corporate deposits rose 12.8% to RSD 122,594 mil in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia's corporate deposits reached RSD 122,594 mil in 2017, up 12.8% compared to the previous year. Serbian banking sector accepted corporate deposits of RSD 694 bil in 2017, up 6.26% when compared to the last year. UniCredit Bank Serbia a...

UCI Serbia's retail deposits rose 3.96% to RSD 56,976 mil in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia's retail deposits reached RSD 56,976 mil in 2017, up 3.96% compared to the previous year. Serbian banking sector accepted retail deposits of RSD 1,223 bil in 2017, up 1.09% when compared to the last year. UniCredit Bank Serbia accoun...

UCI Serbia's npls (as % of loans) fell 50.0% to 5.61% in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia's non-performing loans reached 5.61% of total loans at the end of 2017, down from 11.2% compared to the previous year. Historically, the NPL ratio hit an all time high of 17.1% in 2013 and an all time low of 3.43% in 2006. Provision co...

UCI Serbia's corporate loans rose 6.94% to RSD 157,365 mil in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia's corporate loans reached RSD 157,365 mil in 2017, up 6.94% compared to the previous year. Serbian banking sector provided corporate loans of RSD 1,012 bil in 2017, up 0.160% when compared to the last year. UniCredit Bank Serbia acco...

UCI Serbia's net interest income rose 0.309% to RSD 12,364 mil in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia generated total banking revenues of RSD 17,459 mil in 2017, up 3.82% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of RSD 17,459 mil in 2...

UCI Serbia's costs (as % of assets) fell 4.71% to 2.13% in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia's cost to income ratio reached 43.2% in 2017, up from 42.9% compared to the previous year. Historically, the bank’s costs reached an all time high of 54.7% of income in 2006 and an all time low of 33.7% in 2011. When compared to total...

UCI Serbia's customer loan growth fell 0.095% to 15.5% in 2017

By Helgi Analytics - November 05, 2019

UniCredit Bank Serbia's customer loan growth reached 15.5% in 2017, down from 15.5% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 94.9% in 2008 and an all time low of -7.99% in 2007. In the last decade, t...

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UniCredit Bank Serbia is a Serbia-based subsidiary of the UniCredit Group. The Bank offers its financial products and services to private customers, small and medium size enterprises, and large corporates. The Bank's deposit products include fixed deposits, fixed foreign exchange deposits, current accounts, and savings accounts. The Bank’s loan portfolio primarily comprises personal, mortgage, housing, investment, short-term, subsidized, refinanced investment, and real estate project financing loans, as well as overdrafts, trade finance, and credit guarantees. At the end of 2015, the Bank had some 71 branches units and employed 1,145 persons. The Bank is headquartered in Beograd, Serbia. It is a subsidiary of Bank Austria AG.

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Finance

UniCredit Bank Serbia has been growing its revenues and asset by 13.9% and 17.6% a year on average in the last 10 years. Its loans and deposits have grown by 25.6% and 16.7% a year during that time and loans to deposits ratio reached 129% at the end of 2017. The company achieved an average return on equity of 11.3% in the last decade with net profit growing 13.9% a year on average. In terms of operating efficiency, its cost to income ratio reached 43.2% in 2017, compared to 39.6% average in the last decade.

Equity represented 18.9% of total assets or 29.2% of loans at the end of 2017. UniCredit Bank Serbia's non-performing loans were 5.61% of total loans while provisions covered some 68.2% of NPLs at the end of 2017.