Patria Bank records EUR 5.6 mln loss in Romania

Local bank Patria Bank, which resulted from the merger of Banca Comercială Carpatica and Patria Bank, recorded a cumulated net loss of RON 26.3 million (EUR 5.6 million) in the first nine months of this year, similar to the same period last year. The institution went through a mixed period in which the two banks operated separately for 4 months before merging their operations. The total operating income was RON 108.6 million (EUR 23.4 million), up 2% over the estimated budget. The operating income recorded in the third quarter of this year went up by 24% compared to the first quarter of this year. The operational expenses reached RON 120.6 million (EUR 26 million) in the first nine months, down 9% compared to the estimated budget. The costs decreased by 22% in the third quarter compared to the first quarter of this year and by 19% over the same period last year. This was due to the reorganization process related to the merger. editor@romania-insider.com