CEC Bank Group reports net profit of RON 279.8 million RON in first semester

 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.