Romanian bank posts loss after two profitable years

Romanian bank Banca Comerciala Carpatica (BCC) recorded last year a EUR 38.2 million loss, over a EUR 8.6 million profit in 2013 and a EUR 4.8 million profit in 2012. Additional provisions worth EUR 52.1 million for bad loans triggered the loss. The operating profit amounted to EUR 13 million last year, up 3.6% over 2013 and 45% higher than budgeted. Following talks with banking auditors and the Romanian National Bank, Banca Carpatica decided to record additional provisions, to equal the provisions recorded according to local standards, reads a company’s press release. The non-performing loans coverage ratio reached 73.4% in December 2014, due to the provisioning. editor@romania-insider.com