“On November 29, 2016 Banca Comerciala Carpatica was informed that the Board of Directors of the National Bank of Romania, in the meeting dated November 25, 2016, has prior approved the operation of merger by absorption between Banca Comerciala Carpatica, as absorbing bank and Patria Bank as absorbed bank, according to the Merger Project published on the Bank’s website,” Banca Comerciala Carpatica said in a statement to Bucharest Stock Exchange.
According to a presentation of Banca Carpatica on the stock exchange, the institution resulted from the merger between the two banks will become profitable in 2017 and will increase its assets by approximately 30%, to EUR1.1 billion in the next three years. The institution also targets the tripling of the net stock of loans to EUR646 million by 2019.