August 3 (SeeNews) - Italy's UniCredit Group said on Thursday the consolidated profit of its Bulgarian unit, UniCredit Bulbank, fell by 9.8% year-on-year to 88 million euro ($104.1 million) in the first half of 2017.
Operating income fell to 233 million euro from 236 million euro in January-June. Operating profit decreased by 2.6% to 164 million euro.
Net interest income edged up to 151 million euro to 147 million euro, while net fees and commissions added 11.5% to 58 million euro, UniCredit Group said in its H1 2017 financial report.
UniCredit Bulbank recorded an annual rise of 66% in other charges and provisions to 28 million euro in the six months ended June 30. Payroll costs increased 4.3% to 36 million euro.
UniCredit Bulbank operates 177 branches in the country with population of some 7.2 million.
UniCredit Bulbank was Bulgaria's largest bank by assets as of end-June 2017, according to central bank data.
($ = 0.8448 euro)
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