It said its exploitation revenues dropped 30%, to RON142.5 million, as it lowered its state paper portfolio, adjusted the loan portfolio of Banca Comerciala Carpatica, and closed 27 of its branches.
The merger took place in May 2017 and the results reflect the eight months after the merger, when the banks functioned together as one entity.
The bank’s loan portfolio increased 10.5% compared with the beginning of the year. Its loan to deposit ratio stood at around 44.5%, well below the banking system average of 80.3%.