Romanian lender Banca Carpatica’s profit up 75% in first half of the year

Romanian lender Banca Comerciala Carpatica recorded a net profit of some EUR 3.6 million (RON 16.1 million) in the first half of 2013, a year-on-year increase of around 75 percent, the bank has recently announced. The bank’s operating profit also went up 87.9 percent in the first six months of the year, compared to the same period of 2012, to EUR 8.2 million (RON 36.2 million). Banca Carpatica’s total assets decreased by 23.7 percent in H1 2013, “due to a decrease of the securities portfolio by 42.4 percent, while liabilities from repo operations and securities decreased by 71.8 percent,” reads the bank’s report. The value of new loans in the first half of 2013 also increased by 4.2 percent, to EUR 71.5 million, from some EUR 68 million recorded in the same period in 2012. Banca Carpatica is majority owned Romanian investors Ilie Carabulea and Corneliu Tanase. At the end of June 2013, the bank had a network of 139 units, of which 59 branches, 58 agencies and 22 offices. Irina Popescu, irina.popescu@romania-insider.com