The achieved by UBB gross profit for 2006 after provisions and before taxes amounts to BGN 167.5 m. As compared to the previous 2005, the Bank has increased its profit by BGN 59.7 m., reporting an annual growth exceeding 55 percent.

The General Meeting of UBB Shareholders approved a resolution the net profit for Y2006, amounting to BGN 142 602 882.04 and the retained profit of BGN 760 248.51 from revaluation reserve from the sale of fixed assets to be allocated to the Reserve Fund. For a third year running the major shareholder of the Bank – National Bank of Greece, does not allocate dividends and reinvests the whole profit into the Bank’s capital, thus ensuring a capital support for a strong market expansion of one of the leading banking institutions in Bulgaria.

In an environment of extremely dynamic competition and severe credit restrictions during 2006, UBB managed to develop its market positions, especially in retail banking, at the same time achieving high profit and very good levels of financial and operating efficiency. The Bank has kept its leading position in corporate banking in the private sector and its second rank in retail banking.

The key factors for these achievements were the aggressive policy in the expansion of the branch network and the alternative distribution channels, as well as the incessant offering of new banking products and services that can be quickly accessed by clientsand the high service quality.

For Y2006 the achieved return on average equity (ROАE) reaches 27.8%, while the return on average assets (ROАА) 3.6 %, as by these ratios UBB ranks among the best financial institutions according to international standards. The efficiency ratio (expenses to income ratio) of 39.3% once again proves the extremely high financial and operating efficiency of the Bank.

During 2006 UBB launched for the first time in Bulgaria the sale of integrated bank-assurance products through the established with its participation Life and General Insurance Joint Ventures, together with the largest Greek insurance company Ethniki Insurance and the world leader in this area American International Group.