Mihaela Lupu, a veteran with a 25-year tenure at the UniCredit (LON:0RLS) Group, assumed her new role as CEO and Chairperson of the Board of Directors at UniCredit Bank in Romania on Monday. This transition was approved by the National Bank of Romania and is effective from October 16, 2023.
Lupu's career at the banking group began in 1998 at HVB Bank Romania S.A., also part of the UniCredit Group. She initially served as a Financial Analyst before climbing the corporate ladder to leadership positions, which included roles such as Coordinator of the Controlling Department, Head of Controlling Department at UniCredit Țiriac Bank, Director of Planning and Control, and CFO of UniCredit Bank in 2013. She later served as Head of Group Planning, Capital Management & Strategic ALM and CFO for Central and Eastern Europe (CE&EE).
UniCredit Bank Romania, formerly known as UniCredit Tiriac Bank SA, operates 141 branches across Romania. The bank reported a significant 65% year-over-year rise in net profit for H1 2023 to €133 million ($140.2 million) at an exchange rate of $=0.948829 euro. It also holds a position in the SEE Top 100 ranking.
According to InvestingPro data, UniCredit Bank Romania has a robust market cap of 42801.47M USD. Revenue growth has been accelerating, as indicated by a 48.23% increase in the last twelve months to 23295.5M USD. In addition, the bank's P/E ratio stands at a low 5.26, suggesting it is trading at a low earnings multiple.
InvestingPro Tips highlight that management has been aggressively buying back shares, signaling confidence in the bank's future performance. The bank has also raised its dividend for three consecutive years, with a dividend yield of 4.3% as of 2023. It's worth noting that two analysts have revised their earnings upwards for the upcoming period, a positive signal for potential investors. For more insightful tips, you can visit InvestingPro.
Lupu is a graduate from the Academy of Economic Sciences in Bucharest and holds a Certified Anti-Money Laundering Specialist (CAMS) certification. In her statement on Monday, Lupu expressed enthusiasm for her new role and reiterated her commitment to uphold the bank's dedication to serving its communities.
Her appointment comes at a time when UniCredit Bank Romania is experiencing robust growth, and her extensive experience within the UniCredit Group is expected to be an asset in navigating the bank's future trajectory. The bank's strong performance and optimistic outlook, as highlighted by InvestingPro metrics and tips, underscore the positive environment in which Lupu takes the helm.
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