Romanian state – owned lender CEC Bank posted a profit of EUR 15.4 million last year, up 30 percent on the previous year, the bank has announced. The profit reported was before taxes. Its net revenues from the banking activity went up by 7.4 percent compared to 2009, following the increase in revenues from interest. Its revenues from commissions went however down by 46 percent.

The bank's net cost of risk also went up by 8.6 percent, as a result of the difficult market conditions, the bank announced in a statement.

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