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Unicredit's Slovenian operations highly profitable

Ljubljana, 08 February (STA) - Unicredit, the Italian banking group, posted a consolidated profit of EUR 38m on its Slovenian operations in 2017, an increase of almost 112% over the year before, shows the groups business report released on Thursday.

Net interest revenue rose by a percent to EUR 46m, whereas fees and commissions were up 5.2% to EUR 27m.

Total operating income was down a tenth to EUR 73m.

The surge in consolidated profit is attributable to the release of EUR 21m-worth of write-downs of loans, compared to a charge of EUR 14m the bank took in 2016, and to lower operating costs.

Unicredit banka Slovenije accounts for the bulk of the group's Slovenian business, but it also has a leasing and a real estate management arm.

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