Romanian bank Banca Comerciala Carpatica's H1 net profit plunges 52% to 3.4m lei

The first semester net profit of lender Banca Comerciala Carpatica (BCC) reduced 51.6 percent year-on-year to 3.39 million lei despite advance in assets.

Last year BCC saw first semester net profit of 7 million lei. Assets rose 17.3 percent year-on-year to 2.17 billion lei.

Lending grew 8.7 percent to 1.25 billion lei in the first six months and deposits rose 27.8 percent to 1.78 billion lei. Total revenues increased 55.9 percent to 268.9 million lei.

First semester results stemmed from the lender's decision to centralize the lending process, according to the release the bank sent to the Bucharest Stock Exchange (BSE). The bank's target in the second semester is to enhance credit portfolio.

BCC is listed at BSE and has a market value of 370.15 million lei for a trading value of 0.2070 lei established on August 14.

NewsIn