CEC Bank reports increased results on deposits and credits

Newsroom 23/11/2010 | 16:54

Romanian state-owned lender CEC Bank has recorded a 10 percent hike in deposits in the first nine month of the year, up to RON 15.2 billion, above sector’s average.

Moreover, CEC Bank information reveals that the bank has intensified lending activity of companies, an increased with 11 percent compared with the finst nine months of 2009.

According to a bank press release, the financial institution’s activity in the first three quarters of this year was to identify those SME or public authorities’ projects which had a high probability to be successfully financed.

Thus by September 30, the bank has aproved some 9,500 loans representing RON 1.36 billion, on top being the the agriculture sector and SMEs. CEC Bank has financed so far 5,042 eligible projects for EU funds accession worth some RON 1.2 billion.

The bank’s gross profit reached at the end of the thirds quarter some RON 89 million, compared with RON 55 million registered during the same period from 2009.