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December 5, 2020

Indemnities cut for CEC’s and EximBank’s AGMs

Minister of Finance Ioana Petrescu curbed the indemnities paid to the institution representatives at the annual general meeting at CEC Bank and EximBank to a meeting a year, significantly reducing the amounts paid by the two banks to the Government, which save thus about half a million euros, reports Mediafax. The Government representatives in the two banks’ AGMs used to get at each meeting an indemnity equal to 25 percent of the remuneration due to the president of the credit institution, and the AGM was usually summoned each month. The orders issued by Ioana Petrescu include the possibility to approve the merger of a second AGM meeting remunerated in the past six months of the year, but only with reasonable cause.

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