In the first six months of 2012, Carpatica posted a net profit of RON9.2 million. Results are computed under IFRS.
“The results are encouraging and show our progress in delivering our strategy and transforming Carpatica Bank,” said Johan Gabriels, chief executive of Banca Carpatica.
The bank said operating profit rose 87.9% on the year to RON36.2 million in the first half. Operating income increased 23.5% to RON118.3 million, while expenses were up 7.3% to RON82.16 million.
New loans rose 3.2% year-on-year to RON71.5 million at the end of June. The bank’s loan portfolio increased 10% to RON1.3 billion.
Carpatica reported total assets of RON3.6 billion at the end of June, down 23.7% from December 2012, due to a 42.4% decline in the securities portfolio. Solvency ratio stood at 10.6%, slightly above the central bank’s 10% requirement.
Carpatica runs 139 offices nationwide. Romanian businessman Ilie Carabulea is the bank’s largest stockholder, with a 46% stake.
Tuesday, Carpatica closed up 0.25% at RON0.0599 a share. (EUR1=RON4.425)