A number of 70 people applied to become board members at CEC Bank, the only bank in top 10 still owned by the state, reports local Economica.net.

The deadline for applying for the nine board positions was January 4. Romania’s Ministry of Finance launched the recruitment process in December last year.

The nine board members will be selected by the executive search company Transearch based on a contract worth about EUR 17,800, without VAT. Transearch received the applications and sent the long list to the Finance Ministry. The institution has 15 days to analyze the applications.

The people are competing for offices where salaries range between EUR 2,000 and EUR 6,000 per month.

CEC Bank ranks sixth in the local banking system, with a market share of 7.3% of the total banking assets in Romania. In 2015, it reported a profit of RON 11 million (EUR 2.4 million).

editor@romania-insider.com