The net profit of Romanian state-owned bank CEC amounted to RON 355 mln (EUR 70 mln), 5% up from RON 337.7 mln in 2020, according to preliminary, unaudited financial results published by the bank.

The net interest income amounted to RON 1.1 bln and remained stable compared to the previous year.

Net commission income continued to grow steadily - by 11.4% to RON 297.5 mln, in line with the bank's strategy to diversify its sources of income.

The total loan portfolio granted to non-bank customers increased by 17% in 2021, slightly faster than the 14.8% average increase of the market, to RON 26.9 bln.

"In 2022, we have ambitious plans for transformation: we will bring new products online, and we will continue to develop our hybrid business model, which serves both rural, non-digitalized Romania and modern - digital customers," said Bogdan Neacşu, president of CEC Bank.

(Photo courtesy of the company)

andrei@romania-insider.com