Romanian state-owned lender records EUR 3.5 mln gross profit

State-owned lender CEC Bank, the sixth bank in Romania based on assets, recorded a gross profit of EUR 3.5 million last year, according to the company. In 2015, the bank saw a gross profit similar to the one in 2016, based on data from the Finance Ministry. CEC Bank had total assets of EUR 6.2 billion last year, up 2.4% year-on-year. Its market share reached 7.16% in 2016, down from 7.3% in 2015 and 7.7% in 2014. The state-owned bank thus continued to lose ground to its competitors. Its non-performing loan ratio amounted to 8.4% last year, below the average of the banking system in Romania. CEC Bank recorded a gross profit of EUR 20 million in the first four months of this year, in line with its expectations, according to the lender. editor@romania-insider.com