Romanian lender Banca Carpatica sees 2008 profit plunge 12 times y/y to 187,000 euros

Romanian lender Banca Comerciala Carpatica (BCC) registered a net profit of 689,000 lei (187,000 euros) in 2008, 12 times smaller than in 2007, as the bank focused on the medium and long term management of its portfolio rather than on results and market share, the company announced.

The bank reported a net profit of 8.42 million lei in 2007.

The lending boom braked in 2008, with loans advancing a mere 4 percent to 1.34 billion lei. Assets idled at 2.29 billion lei, with credits accounting for 60 percent of this amount.

Deposits only inched 3 percent last year to 1.8 billion lei.

The bank collected revenues of 574.61 million lei by year-end, up 27 percent on 2007, while spendings amounted to 573.94 million lei after a 30 percent annual advance.

The lender has a share capital of 201.25 million lei, divided into 2.01 billion shares at a face value of 0.10 lei. The main shareholder is Ilie Carabulea, who controls 36.26 percent of the capital.

Shares of Banca Comerciala Carpatica are traded on the first tier of the BSE under the symbol BCC. It had a market value of 191.19 million lei according to a 0.0950 lei quotation established today.

NewsIn