Radu Gheţea, who managed state-owned state savings bank CEC Bank for 12 years until last autumn and has a banking career of over 40 years, is close to returning to the banking system as chairman of the Board of Directors of Libra Bank, a bank owned by US investment group New Century Holdings through its Cyprus-registered investment fund Broadhurst Investment, Ziarul Financiar reported.

His appointment pends the approval of Romania's National Bank (BNR).

Libra Internet Bank has a network of 53 branches nation-wide, manages assets worth RON 5.4 billion (EUR 1.13 bln) and has a market share of 1.2% being the 16th largest in the banking system.

Libra focuses on several business lines, such as liberal professions, real estate developers, agribusiness, and SMEs. The lender has been part of the American investment group New Century Holdings since 2003.

Online-focused Romanian bank Libra expands lending by 20%

(Photo courtesy of CEC)

editor@romania-insider.com