EnglishCEC (the Romanian Savings Bank) posted a gross profit of 24 million RON for the first quarter of the current year, up 60% from the corresponding period of 2006. EBITDA amounted to 32 million RON, compared to 20 million RON reported for last year. For this year, CEC expects a gross profit of 50 million RON. Loans granted to non-bank clients reached 3,5 billion RON, up 60% compared to the first quarter of 2006. Deposits surpassed 6 billion RON, increasing by 18% from the first three months of last year.
For this year, the bank plans to establish the CEC Financial Group, the first step towards this aim being the launching of CEC Banca Pentru Locuinte (Housing Bank) and its leasing activity. CEC also intends to develop new FX products in order to attract resources from foreign markets. The bank will also start a rebranding process. In order to finance these investments CEC will use money resulted from the 500 million RON share capital increase operated last year. CEC has a share capital of 649,7 million RON and total assets worth 7,5 billion RON, increasing 24% compared to the first quarter of 2006.
Euro
Dolar SUA
Franc elveţian
Liră sterlină
Gram de aur
