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Carpatica Bank, profit halves in H1

Commercial bank Carpatica (BCC) posted in the first half of 2008 a net profit of 3.388 million lei, two-fold lower than in the first half in 2007, according to reports remitted to Bucharest Stock Exchange (BVB).

Total revenues surged by 56 percent over the reference period, from 172.42 million lei to 268.91 million lei and spending took an advance of 61 percent, from 164.52 million lei to 265.01 million lei.

The first half of the year activity was influenced by the bank's decision to centralize the lending process, which supposed the change in information flows and changes in credit approval decision taking, aimed at a better management and adaptation to the market trend, with accent on the territorial units in the sale process.

'The bank was not necessarily interested in increasing sources, field in which it was faced with important cost increases both due to Romania's National Bank (BNR) policy and also due to some banks which attracted sources at higher costs. The bank was also interested in boosting activity, with accent on efficiency', announced BCC director general Nicolaie Hoanta.

According to BCC, in the second half of the year, the bank's activity will know a mainly two-pronged growth: lending to the economic agents and lending to the population. As well, up to August 25, the process of underwriting to the capital increase approved in May by the shareholders is to be finalized, sources to be used for further intensive development and financing of some IT projects.

Sursa: http://www.rompress.ro

Tags: million bnr bvb

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