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December 10, 2022

CEC Bank credits rose 12 pc in the first 10 months

The total CEC Bank credits increased 12 percent in the first 10 months of 2009, compared to the same period of 2008, CEC Bank president, Radu Ghetea, declared yesterday, at a seminar on financial reporting, Agerpres informs. “The credits for SMEs increased 34 percent in the first 10 months, and the credits for the public local administration 62 percent. The total credits registered an appreciation of 12 percent, while the balance of the deposits increased 23 percent after the first 10 months,” Radu Ghetea said.

CEC Bank president also mentioned that the year 2009 will be ended by the bank with a profit. CEC Bank changed the image of the bank in 700 units at national level, out of a total of 1,350 units. “In the last two weeks we granted 5,000 credits for agriculture, but their value is very small. These are bridge credits for the subsidies in animal husbandry,” Ghetea added.

The same also mentioned that although the banks register profits, the banking system is that which pays the invoice of the crisis. In his capacity as president of the Romanian Association of Banks, Radu Ghetea proposes to adopt IFRF reporting standards entirely starting in 2012, but considers that the section which refers to provisions should be adopted in 2010.

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