August 18 (SeeNews) - Romania's UniCredit Tiriac Bank said on Tuesday it changed its name to UniCredit Bank after earlier this year UniCredit Bank Austria AG raised its holdings in the Romanian lender to 95.6%.
The name change is effective as of August 18, the bank said in a statement.
The bank will carry out a rebranding process in the next few months.
Earlier this year UniCredit Bank Austria AG wrapped up the acquisition of a 45% stake in UniCredit Tiriac Bank from Tiriac Holdings Ltd.
In the first half of 2015 UniCredit Tiriac Bank posted a consolidated net profit before minority interest of 106.8 million lei, or 24 million euro. Consolidated operating profit stood at 362.4 million lei in the six months through June.
UniCredit Tiriac Bank had 183 branches at the end of June, down from 184 at end-2014, and 3,352 employees.
(1 euro = 4.4312 Romanian lei)