UniCredit's Q1 net profit in Serbia up 63% y/y

The Serbian unit's net interest income increased 30% on the year to 57 million euro in January-March, while net fee income rose 39% to 21 million euro in the period under review, the UniCredit Group said in its quarterly financial statement on Tuesday.

The operating costs of UniCredit's Serbian unit rose 0.7% on the year to 19 million euro in the first three months of the current year, with net operating profit jumping by an annual 58% to 71 million euro.

Customer loans totalled 3 billion euro at the end of March, up 3% on the year, while deposits rose 6.8% to 3.6 billion euro.

UniCredit Bank Srbija was the fourth largest bank in terms of assets among 20 active lenders in Serbia at the end of 2023, according to latest available central bank figures.

($ = 0.929 euro)