Romanian CEC Bank's profit four times smaller
State-owned lender CEC Bank saw last year a gross profit of EUR 3.1 million, four times smaller compared to the previous year.
The balance of loans increased by 6.4%, so the bank’s assets reached EUR 6.3 billion.
CEC Bank has used the profit to increase its capital, which thus amounted to EUR 247 million. Its own funds totaled EUR 315 million.
CEC Bank posted profit for the eighth year in a row. In 2013, the lender announced a gross profit of EUR 12.6 million.
The portfolio of corporate loans rose last year by about 8.5%. The share of corporate loans in the CEC’s portfolio amounts to 68%.
editor@romania-insider.com
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