State-owned lender CEC Bank may be the next local bank that lists its shares on the Bucharest Stock Exchange, according to Radu Ghetea, CEC Bank’s president.

The other two options for increasing the bank’s capital include attracting an international financial institution such as IFC or EBRD among the bank’s shareholders, following the model of the Romanian lender BCR, or a combination of the two methods, he added, reports local Hotnews.ro.

The Finance Ministry, which is the majority shareholder in the bank, has been trying to introduce a two-tier system consisting of a Management Board and Supervisory Board in the last three years. This system can be found in 21 local banks, compared to seven banks that have a unitary system.

The Finance Ministry has also tried to transform CEC Bank into a development bank. CEC Bank was the 6th biggest bank in Romania at the end of 2015, with total assets of EUR 6.1 billion and a market share of 7.3%.

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editor@romania-insider.com