22.3 C
June 29, 2022

CEC Bank assets increased by 19.85 pc in Q1

The assets of CEC Bank increased by 19.85 per cent during the first quarter of this year, from RON 13.6 billion to RON 16.3 billion, under the circumstances of the increase of the deposits’ portfolio by 4.4 per cent and of the total value of gross credit by 7.4 per cent, according to data presented yesterday by Radu Gratian Ghetea, President of the institution, at the 129th anniversary of the Romanian National Bank. The total value of gross credit increased from RON 8.1 billion in December 2008 to RON 8.7 billion by the end of March 2009, while the deposits’ portfolio increased from RON 11.3 billion to 11.8 billion. The credit granted to companies increased in the first three months by 22.6 per cent, totalizing RON 3.3 billion, while loans to individuals increased by 0.53 per cent, totalizing RON 5.234 billion. The total value of the credit granted by CEC was shared at the end of March as follows: 61 per cent to individuals, 38 per cent to legal persons and 1 per cent to the public local administration (RON 114 million). CEC Bank intends to increase to percentage of credit granted to companies up to 50 per cent of its portfolio, compared to the level of 36 per cent, registered in December 2008. The bank registered a higher rhythm of increase in the credit balance and of the deposits’ portfolio than the one reported at the level of the banking system, according to the data of the institution. In the first three months of the year, CEC Bank granted 1,900 loans by accessing European funds, and the European funds included totalize approximately EUR 130 million. The President of CEC Bank explained that this credit is either co-financing for projects granted European funding, or financing of grants.

Related posts

Deloitte study: Europeans holiday season spending increases versus last year, estimated total market reaches €189.5 billion


Sphera Franchise Group records 6.6% higher sales and 271% higher EBITDA in Q1


Fantanele wind farm brings CEZ Romania production division on profit

Nine O' Clock