EnglishBanca Comerciala Carpatica (Carpatica Bank), based in Sibiu (BVB:BCC) concluded Q1 with a mere 147,145 RON in profit, compared to 4.19 million RON in the year-ago period.
"The bank started the year after very strong expansion of the territorial network in 2006, especially in the second half of the year, which affected profitability on short term. The bank also reconsidered the individual lending policy by focusing more on consumer and real estate loans," said BCC president Nicolae Hoanta.
The bank reported overall revenues of 76.72 million RON (+57%) and expenses of 76.12 million RON (+72%). Assets reached 1.7 billion RON. Interest to be paid reached 36.6 million RON (+35%), whereas due interest hit 21,99 million RON (+82%). The bank has become involved in several financing projects intended to help develop small- and medium-sized enterprises as well as agricultural entrepreneurs. The market share target for this year is 1.2%.
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