UniCredit's Croatian unit more than doubles net profit in 2023

Zagrebacka's profit before tax surged to 518 million euro in 2023 from 233 million a year earlier, UniCredit Group said in a financial statement.

Net interest income increased 78.9% year-on-year to 577 million euro in 2023, while net fee income fell 6.5% to 179 million euro.

Customer loans totalled 10.7 billion euro at the end of December, up 7.5% on the year, while deposits rose 4.3% to 16.9 billion euro.

Shares in Zagrebacka Banka traded 0.86% higher at 17.55 euro by 1023 local time on Monday on the Zagreb bourse.

($ = 0.929 euro)