Unicaja Bank Received 78 Million Euros In 2020 After Covid Provided 200 Million Euros

2021-02-02   |   by CusiGO

Unicaja Bank Group achieved a net profit of EUR 78 million at the end of fy2020, a decrease of 54.8%, providing additional funding of EUR 200 million for the potential economic impact of the covid-19 pandemic.

If this special appropriation is not included, the result of this financial year will reach 218 million euros, which is 26.6% higher than that of 2019.

The merger process with liberbank “continues and goes according to plan” after the two institutions “substantially improve their solvency in the fourth quarter of 2020,” the agency itself said in a statement on Tuesday. Exceeding the reference level initially considered for the consolidated entity. ”

In fact, on Tuesday, liberbank also announced its results for the previous fiscal year, with a net profit distribution of 41 million euros in fiscal year 2020, down 63.1% from a year ago, after providing 241 million euros for write downs.

The key factors of unicaja bank’s performance in fiscal year 2020 are the ability to generate performance by “reducing the impact of cowid-19”; the growth of business activities; the “continuous reduction” of operating costs; and the “continuous reduction” of operating costs; Reducing non-performing assets by strengthening the high level of hedging and solvency, the “high ratio” of liquidity and the increase of capital ratio “confirms the ability of the institution to cope with the current situation and continue to deal with customers in the current difficult situation”.

In this regard, unicaja bank stressed that it could “reverse the negative impact of business paralysis caused by the announcement of alarm status in the second quarter”, and its basic profit margin (interest rate + commission) increased by 8.9% and 3.7% respectively in the third and fourth quarters, The annual growth rate was 0.2%.

As mentioned earlier, interest rate (Q3 + 9.2%, Q4 + 1.1%) and Commission (Q3 + 8.1%, Q4 + 10.7%) both improved.