In 2012, Carpatica posted a net profit of RON21.6 million. Results are computed under IFRS.
“Despite challenging conditions, our underlying performance has been resilient and momentum is building,” said Johan Gabriels, chief executive of Banca Carpatica.
“Our SME banking business delivered good results, alongside the continued strong growth of our treasury activities. This performance has translated into net income of RON217 million in the year,” he said.
Carpatica reported a pretax profit of RON26.5 million in 2013, up 5% from RON25.2 million in the previous year. The pretax profit was negatively affected by restructuring and provisioning costs.
The bank said credit impairment charges increased by RON16 million to RON25 million at the end of 2013.
Carpatica’s loan portfolio rose 4% year-on-year to RON1.22 billion, while total deposits advanced 12% to RON2.82 billion.
At the end of December, the bank had total assets worth RON4.06 billion, down 14% from RON4.72 billion a year earlier. The decrease reflected the sale of RON1.04 billion in state treasuries during the first quarter of 2013.
The bank’s cost-to-income ratio declined to 69% in 2013, from 77% in the previous year. Return on shareholders’ equity increased to 9.79%, from 6.24% in 2012, largely reflecting the higher profit.
Carpatica is 41%-owned by Romanian entrepreneur Ilie Carabulea. The businessman was placed under temporary arrest in January for alleged influence peddling and bribery. (EUR1=RON4.4926)