Romanian Banca Comerciala Carpatica reduces loss by 78.3% in first nine months

Romanian Banca Comerciala Carpatica (BCC) posted a loss of EUR 5.9 million (RON 24.9 million) in the first nine months of this year, 78.3 percent below the loss reported during the same period in 2010, due to significantly reduced risk costs, according to the bank. The bank’s assets totaled about EUR 544 million (RON 2.92 billion) at the end of September, 2.3 percent lower on the same period last year, but up 5.5 percent compared to June 30 this year. Moreover, BCC posted an operating profit of EUR 2.3 million (RON 9.8 million) at the end of September, down 81.3 percent compared to the one posted in the same period in 2010. BCC was founded in 1999 and its main shareholder is the Romanian businessman Ilie Carabulea, with 41.2 percent of the shares. Irina Popescu, irina.popescu@romania-insider.com (photo source: Sxc.hu)