Carpatica Bank posts 25 percent decrease in operating income in H1

Carpatica Bank’s operating income decreased by 25 percent, from RON 107 million, to RON 78 million. Net interest income increased slightly to RON 49 million, from RON 48.6 million in the first half of 2010. Net commission income declined by 25 percent, from RON 22.2 million in the first half of 2010, to RON 16.6 million. The net trading result declined by 61 percent, from RON 36 million in the first half of 2010, to RON 14 million.

Operating expenses increased by 7 percent to RON 72 million, due to increased costs with third parties, although personnel expenses were reduced by 1.7 percent. Risk provisions for loans and advances declined by 82 percent from RON 146 million in H1 2010 to RON 25.5 million, in the first half of 2011. The net loss was reduced by 82.5 percent, from a negative RON 106 million in H1 2010, to a negative RON 18.6 million, in the first half of 2011.

The solvency ratio reached 11.91 percent and, therefore, remained above the statutory minimum requirement of the Romanian National Bank.

Carpatica Bank is a financial institution with Romanian majority capital, whose shares are listed at the Bucharest Stock Exchange, under the BCC symbol.

Ovidiu Posirca

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