Banca Comerciala Carpatica posts losses for Q1 2009

Romanian lender Banca Comerciala Carpatica (BCC) reported losses of 11.63 million lei in the first quarter versus 2.64 million lei net profit in prior-year period, citing 10 percent lower incomes, according to the bank's financial results sent to the local bourse, NewsIn informs.

Its assets hiked 16.5 percent in the first three months, from 2.29 billion lei at the end of last year to 2.67 billion lei.

The lender's incomes amounted to 136.31 million lei in the first quarter, down 10 percent over the similar period last year, when the bank posted 151.27 million lei. Expenses slipped slightly to 147.95 million lei, from 148.63 million lei in the similar period last year.

Banca Comerciala Carpatica expects a ten-fold boost of gross profit this year to 8 million lei, following 7.7 percent increase in credit placements to 1.5 billion lei at year-end, according to the incomes and expenses budget approved by shareholders.

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