Head of state-run lender CEC Bank reconfirmed in post, Finance Ministry decides

Romania's Public Finance Ministry (MFP) decided to keep banker Radu Gratian Ghetea as head of the oldest state-run lender CEC Bank and reconfirmed the board, Ghetea told NewsIn.

The board includes Ghetea, first vice president Gheorghe Carabasan, vice presidents Cristian Tudorancea and Mihaela Lucica Popa, along with members Sebastian Vladescu, Catalin Doica, Alice Cezarina Bitu, Bogdan Hutuca, Ciprian Badea and Serban Pop.

Romania's Banks Association reelected Ghetea at its helm a few days ago, next to the president of Alpha Bank Romania, Sergiu Oprescu and the president of Raiffeisen Bank Romania, Steven van Groningen as vice presidents.

CEC Bank saw profit sink 57.4 percent year-on-year to 20.3 million lei in the first four months of 2009, on an 8 percent advance in loans granted during the period.
The lender increased its assets during the first four months of the year by 25.2 percent versus the end of 2008, while the new credits granted amount to 723 million lei.

Assets reached 13.65 billion lei at the end of last year and 17.09 billion lei in April. The year-on-year rapport stands at 44.1 percent, as the assets amounted to 11.86 billion lei in April 2008.

The 1,750 credits granted during the mentioned interval pushed the total volume of the loans portfolio up by 8 percent, to 8.79 billion lei. Small to medium-sized companies contracted 700 loans, worth 452 million lei, while the agriculture segment came second with 1,045 new loans, worth 270 million lei.

NewsIn