The country’s fourth largest lender by assets reported a pretax profit of RON56.2 million in 2013, up 67% year-on-year.
The bank will use last year’s earnings to increase its share capital, said Radu Gratian Ghetea, president of CEC Bank. Currently, CEC has a share capital of RON1.12 billion.
Ghetea said assets were flat at RON26.9 billion at the end of December, as the bank made fewer operations with state treasuries compared with the previous years.
CEC booked total provisions worth RON511 million in 2013, 9% higher on the year.
Overall loans rose to RON12.26 billion at the end of December, from RON11.93 billion in 2012, while total deposits increased 10% to RON21.4 billion.
CEC Bank operates 1,091 branches nationwide and employs 6,233 staff. (EUR1=RON4.4419)