CEC Bank, one of Romania’s leading financial institutions, reported significant growth for the first half of 2024, with a net profit of 279,8 million lei. The bank’s total assets saw a substantial increase of 35% compared to the same period last year, reaching 93,23 billion lei.

The bank’s financial performance in the first six months of 2024 highlights its strong market position and consistent profitability. CEC Bank continues to play a pivotal role in supporting Romania’s economy, with new loans worth approximately 5,8 billion lei issued during this period. Notably, 4,3 billion lei of the new loans were directed towards corporate clients, with sectors such as agriculture, industry, and renewable energy benefiting from substantial investments.

The bank also saw a 27% increase in net interest income, amounting to an additional 211 million lei compared to the previous year, primarily driven by higher loan volumes and placements. Furthermore, net fee income grew by 4,1%, adding 5,5 million lei to the bank’s revenue.

In addition to its strong financial results, CEC Bank solidified its leading position in the Romanian market for state securities operations, securing the top spot among primary dealers based on the Ministry of Finance’s evaluation over the last 12 months.

CEC Bank remains focused on supporting key sectors of the Romanian economy, with agriculture and the food industry showing the largest growth in its loan portfolio. New loans to the agricultural sector reached 1,7 billion lei, and the overall volume of financing in this sector increased by 44.6% compared to June 2023.

As CEC Bank continues to prioritize digital transformation and the integration of ESG principles into its operations, the institution remains committed to maintaining its strong financial position while supporting the growth of Romania’s economy.

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