This year’s bond will not exceed the equivalent of EUR1 billion, and it could be issued either in lei or foreign currency, Rasvan Radu said.
He said the bank would have been interested in launching a covered bond issue, i.e. debt securities backed by cash flows from mortgages or public sector loans, but the local market doesn’t offer many attractive opportunities.
Stanislav Georgiev, executive vice-president and chief financial officer of the bank, said in turn that the planned bond issue will likely have a maturity of seven to ten years.
UniCredit Tiriac said its net consolidated profit rose 11.3% on the year to 177.4 million lei (EUR40 million) in 2012, on higher revenues and lower provisions for bad loans.
The bank’s standalone net profit reached RON173.1 million, up 11.5% on the year.
The loan/deposit ratio improved to 137% at the end of 2012, from 125% in the previous year. (EUR1=RON4.417)