CEC Bank Group reports a net profit of RON 279.8 million in the first half of 2024, of which the bank's net profit was RON 269.5 million, the bank informed on Thursday, in a statement sent on Friday.The bank mentions that it continued to strengthen its position on the market and registered an increase in net assets up to 93.23 billion RON, plus 35% compared to the same period last year.The Bank's net interest income increased by approximately 27% in the first semester of 2024 compared to the first semester of 2023 (respectively by approximately 211 million RON), due to the increase in interest income, generated by the monthly increase in the balance of loans and investments (securities, banks, etc.). Thus, interest income increased by approximately 673 million lei, while interest expenses also registered an upward trend, being increased by approximately 462 million RON.Net commission income increased by approximately 4.1% (respectively by approximately 5.5 million RON), reaching 139 million RON at the Bank's level (157 million RON at the Group's level) in the first semester.The bank mentions that it is consolidating its position as an active player in terms of operations with government securities, maintaining itself at the middle of the year on the first place in the list of primary dealers drawn up by the Ministry of Finance, a ranking that monitors their activity from the last 12 months on the internal market of government securities.CEC Bank ranks third in the ranking of the Romanian banking system according to the number of ATMs and MFMs owned - 1,381 new generation equipment.CEC Bank is the financial institution with the longest tradition in Romania. Founded in 1864, CEC Bank currently has the most extensive national network, with over 1,000 branches and territorial units and with assets of 93.23 billion RON, at the end of the first semester of 2024.The CEC Bank Group came into existence by the takeover, on July 27, 2023, by CEC Bank S.A., of the majority stake (99.993%) of the Rural Credit Guarantee Fund - I.F.N. SADDLE. (FGCR), together with the Ministry of Agriculture and Rural Development.
February 24, 2025, marks three years since Russia's invasion of Ukraine. In this context, interim president Ilie Bolojan reaffirmed Romania's full commitment to Ukraine's freedom, sovereignty, and independence. In a post on X, the Romanian leader said, "As we count 3 years since Russia's full-scale invasion against Ukraine, Romania reaffirms its full commitment to UA's […]
The US bases in Romania "are maintained and will even increase in importance," the US special envoy for Ukraine and Russia, Keith Kellogg, reportedly told Romanian foreign minister Emil Hurezeanu, according to Hotnews.ro. Kellog made...
Bucharest mayor Nicusor Dan, who decided to run for president after the isolationist candidate Calin Georgescu won the first round of the scrapped presidential ballot last November, argued that the US administration's bias towards Georgescu is only an effect of the asymmetric information caused by insufficient explanations provided by the Romanian...
The messages posted by Elon Musk on various social networks in support of the Romanian isolationist politician Calin Georgescu "is a form of interference with the country's domestic politics," Romanian foreign minister Emil Hurezeanu said, speaking for Prima TV station on February 22. Hurezeanu stressed that Musk "is only a private person,...
Major French drugs gangland figure Mohamed Amra, at that moment in pre-trial detention for a murder committed in 2022 in Marseille, escaped in May 2024 upon an armed operation causing the death of two prison officers, was captured by the Romanian law enforcement forces on February 22 and will be extradited to France within 30 […]
Romanian businessman Ovidiu Budeanu, the developer and owner of Arena Mall Bacău, is expanding the shopping center in a EUR 65 million project set to be completed next year. The investment will increase the mall’s surface area by 70%, with expansion works having commenced in 2023,
