EnglishShareholders in Banca Carpatica (BSE:BCC) have positively revised the net profit estimate for this year to 7.2 million RON, up by 7 per cent from the previously released estimate.
Banca Carpatica shareholders in April estimated a net profit of 6.73 million RON for the entire year 2009.
If the bank stays on target, earnings would be nine times higher than in 2008.
According to the new budget, revenues are scheduled to reach 620 million RON at the end of the year, whereas expenses have been projected at 611.44 million RON.
The return on equity will reach 2.63 per cent, whereas the return on assets has been forecast at 0.23 per cent.
Banca Carpatica is expecting the total asset value to increase by 35.4 per cent from end-2008 to 3.1 billion RON.
Nine months through the year, the bank achieved a gross profit of some 6 million RON, up four times from the year-earlier period, according to recently released preliminary data. Provisions increased by 9.1 million RON in the reporting period.
Banca Carpatica has recently finalized a capital increase that brought 26.82 million RON in cash after shareholders subscribed 96 per cent of the newly issued shares. The operation was designed to consolidate the bank and help it be better prepared for macro-economic and systemic shockwaves. Thus, Banca Carpatica will have a share capital of 228.07 million RON divided into 2.28 billion shares with a face value of 0.1 RON.
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