May 11 (SeeNews) - Italy's UniCredit Group said on Thursday the consolidated profit of its Bulgarian unit UniCredit Bulbank fell by 35.2% year-on-year to 30 million euro ($32.55 million) in the first quarter of 2017.
UniCredit Bulbank incurred a loss of 30 million euro due to 'other charges and provisions' in the three months ended March 31, compared to a loss of 5 million euro in the same period last year, according to UniCredit Group's Q1 2017 financial report.
Operating income rose by 5% on the year to 117 million euro in January-March.
Net interest income edged up by 1.2% to 75 million euro, while net fees and commissions added 10.2% to 28 million euro.
UniCredit Bulbank operates 170 branches in the country, according to information from the bank's website.
UniCredit Bulbank was Bulgaria's largest bank by assets as of end-March 2017, according to central bank data.
($ = 0.9214 euro)
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