Carpatica targets profit and market share

Carpatica, a medium-sized bank controlled by businessman Ion Carabulea, will target profit and market consolidation, after the bank invested in new technology and the aggressive expansion of its territorial network. "Banca Carpatica's aim is to preserve its market share (...), and have a balanced approach to growth. We will focus on granting complementary funding to clients who have secured European funds, support those who work in profitable sectors of the economy, and support new, strongly-established businesses," Nicolaie Hoanta, the bank's CEO, told ZF. Carpatica reported first-quarter assets worth 2.3 billion RON (620 million euros), a marginal increase compared with December last year. At the end of 2007, Carpatica held an almost 1% market share. The bank presently operates a 243-branch network, which accounts for slightly more than 4% of the total number of branches in the banking system.