Banca Comerciala Carpatica (Carpatica Commercial Bank - BCCstock symbol), controlled by Sibiu-based businessman IlieCarabulea, has budgeted 94.63 million-RON (23 million-euro) lossesfor this year - amid a four-fold rise in net loan loss provisions,to 160.7 million RON (39 million euros).
The data was included in the draft budget submitted for theshareholders' approval at the end of last week.
In 2009, the Sibiu-based bank reported 21.1 million-RON (5million-euro) losses, having set up 38.7 million RON (9.1 millioneuros) in provisions.
However, according to the draft budget, "the risk cost should belower in 2010, considering the measures taken by the NBR (NationalBank of Romania) on provision regulations (...), which will resultin a lower level of provisions required for loans secured by realestate, and will have positive direct consequences onprofitability."
In the first quarter of the year the bank estimates 57.7 millionRON in losses amid 87.7 million RON in provisions, with lossesexpected to go down over the next two quarters, and in the finalthree months of the year it expects to see an around 20 million-RONprofit.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
