It said the operating profit stood at RON3.2 million in January to March, 27% more than the value forecast in the bank’s budget.
Overall revenue dropped 21.1% to RON139.82 million, while total costs narrowed by 34.6%, to RON153.33 million.
Carpatica’s assets stood at RON2.82 billion at the end of March, up 2.1% from RON2.77 billion in the same period of 2010. However, the bank’s asset value is down 3.5%, from RON2.93 billion at the beginning of the year.
The solvency ratio was of 12.12% end-March, higher than the 10% threshold imposed by the central bank.
The bank stood to collect RON55.68 million in interest, 19.3% less than at the end of March 2010. Interest to be paid stood at RON36.13 million, 22% less on the year.
Banca Carpatica reduced its exposure on bonds, with an overall investment reaching RON352.11 million, down 16% from RON419.32 million in December. A the same time, the bank held end-March stocks and securities with variable yields of RON61.25 million, compared to RON58.52 million at the end of 2010.
At the end of the first quarter, the bank had a territorial network of 171 units, and almost 1,400 employees.
The bank is 41.28% owned by businessman Ilie Carabulea, while Corneliu Tanase holds 11.21%.
Banca Carpatica stock was trading early-Thursday at RON0.079 per share, down 1% on the day. (EUR1=RON4.0842)