“We are ready to keep up with the business requirements of our subsidiaries and, if there is an opportunity to increase lending that would entail additional capital, then we are ready to do it,” Nicastro told Mediafax.
Nicastro said UniCredit Tiriac Bank’s lending portfolio has increased by 15% in the first nine months of 2011, thrice the market average and fivefold the growth in western European countries.
“We are focusing on organic growth. Our goal on the long term is to make it to the top three largest banks in the market,” he added.
UniCredit Tiriac Bank is Romania’s fifth biggest lender by assets.
Earlier Thursday, Fitch Ratings affirmed its long-term rating on UniCredit Tiriac Bank at ‘BBB+’, with stable outlook. The ratings action came after Italy’s UniCredit was placed under watch negative.
The Romanian bank reported a net profit of 94 million lei (EUR22.6 million) in the first half, down 36.6% on the year, hurt by higher operating costs and lower revenue from interests.
UniCredit Țiriac Bank had total assets of RON20.5 billion (EUR4.78 billion) at the end of June.