Banca Comerciala Carpatica (BCC) ended 2009 with 19.36 million
RON (4.5 million euros) as a result of loan-loss provisions. “2009
was a difficult and complicated year, but the worst is largely
over. Last year’s losses were generated by the provisions we set up
in the last quarter of the year. The bank’s operating income was
good in 2009, over 19 million RON, amid a credit risk cost of over
37 million RON,” said Nicolae Surdu, general manager of the bank.
He was appointed to the helm of the bank in October 2009, replacing
Nicolae Hoanta, with his mission being to restructure the bank.
Carpatica, which is over 36% controlled by Sibiu businessman Ilie
Carabulea, reported 19.36 million RON (4.5 million euros) in net
losses, a steep decline against the almost 802,000-RON profit
reported in the previous year, according to preliminary results.
Much of the 2009 losses were generated by the results reported in
the last quarter of the year, considering that the bank ended the
first nine months with a 5.8 million-RON profit. ZF

Subiecte #Banca Comerciala Carpatica#Provisions