Asked whether Tiriac would still be able to maintain his contribution as shareholder, Nicastro said there is no foreseeable need for an immediate change in the shareholding structure, while the relationship with Tiriac is fully functional.
Answering another question, Nicastro said the UniCredit group is not planning to pay dividend in the near future at UniCredit Tiriac Bank, since investment would be more suitable at this time.
Any revenue is necessary for additional growth, since this is a time for investment, not for yields, Nicastro said.
Last year, UniCredit Tiriac Bank posted a net profit of 171.2 million lei (EUR41 million), under international financial reporting standards, down 47.9% on the year, on higher risk costs.
In the first quarter this year, the bank posted a net profit of RON34 million, by the same standards, down 47% on the year, based on the local prolonged recession and narrower margins.
Regarding the amount UniCredit would be willing to invest in Romania, Nicastro said investment might even reach EUR50-100 million over the next three years, but the sum is highly dependent on market developments and the bank’s growth strategy. (EUR1=RON4.1344)