Carpatica makes 5m-euro profit

Banca Carpatica saw a 17.7 million RON (4.9 million-euro) profit last year, almost 34% higher compared to the previous year. Bank assets reached 925 million RON (over 255 million euros) in December, double as much as at the end of 2004. “We have proved that, even though we undertook an expensive investments programme, amounting to 3.2 million euros – the bank”s profitability was not damaged, so it will not upset its future development”, stated Nicolaie Hoanta, chairman of the bank. Last year, Carpatica doubled its network, so that it is now operating 116 branches, and targets to reach 200 branches by the end of 2007. “In 2006 we will focus our atention, like we did in 2005, on three primary objectives: increasing our market share, expanding our branch network, other distribution channels for our products and services and a satisfactory level of profitability,” Hoanta adds. ZF