UniCredit's net profit in Serbia more than doubles in 2023

The Serbian unit's net interest income increased 57.3% to 210 million euro last year, while net fee income added 8.7% to 65 million euro, the UniCredit Group said in an annual financial statement.

The operating costs of UniCredit's Serbian unit went up 7.4% on the year to 81 million euro in 2023, while net operating profit expanded to 186 million euro from 94 million euro.

Customer loans totalled 3 billion euro at the end of 2023, up 5% on the year, while deposits rose to 3.7 billion euro from 3.4 billion euro at the end of 2022.

In the fourth quarter alone, UniCredit's Serbian unit recorded a net profit of 36 million euro, up from 16 million euro reported for the like period of 2022.

($ = 0.9298 euro)