Romanian lender Banca Carpatica reports loss in the first half of 2014

Romanian lender Banca Comerciala Carpatica ended the first half of the year with a net loss of RON 350,000 (some EUR 78,000), compared to a net profit of RON 16.1 million (EUR 3.6 million) recorded in the same period the previous year. “The bank recorded a profit before tax of RON 1.8 million for the half-year to June 30, 2014, a reduction of RON 8.8 million compared to the profit before tax of RON 10.6 million for the half-year to June 30, 2013. The results in both periods have been significantly affected by one-off items,” reads the bank’s results sent to the Bucharest Stock Exchange BVB. The bank’s total assets decreased by 19 percent compared to December 2013, mainly due to a reduction in the financial assets portfolio. Banca Carpatica’s solvency ratio was 13 percent at the end of June this year, while the loans-to deposits ratio was 59 percent. Compared to the same period last year, the bank increased the number of internet banking clients by 12 percent. Irina Popescu, irina.popescu@romania-insider.com