Profit and assets of Romanian bank CEC up over 20% at September

Romanian bank CEC, one of the two state-controlled banks in the country, reported that its assets rose by 20.5% at the end of September, compared to September 2020, to RON 45.1 bln (EUR 9 bln).

Its net income expanded to RON 332 mln (EUR 66 mln) in the first nine months of the year - 21.2% more compared to the same period of 2020.

At the same time, the bank has continued the modernization process with a focus on digitalization, the bank’s CEO Bogdan Neacsu commented.

“We granted new loans worth about RON 9 billion, and we registered an increase in the total loan portfolio of 15.1%.[...]We completed many projects: we launched online accounts for SMEs, the Smartphone POS application - which turns mobile devices into POS for accepting online payment with cards, we modernized our internal IT network,” he explained.

Overall, the total loan portfolio granted to non-bank customers amounted, at the end of September, to RON 25.8 bln (EUR 5 bln), 15.1% more compared to September 2020.

The largest increase was in the mortgage loans segment, where the bank’s portfolio reached RON 3.15 bln (over 20,000 loans). In the first nine months of 2021, CEC Bank granted almost 4,000 mortgage loans, 34% more compared to the same period in 2020.

(Photo: Emilio 100/ Dreamstime)