The payment was already made, at the end of last week, according to data from CEC Bank.
The lender has distributed over 85% of the net profit attributable to shareholders, in line with the agreement on increasing the share capital of CEC Bank, agreed upon with the European Commission in 2019, as it has one of the highest profit distribution rates on the market.
The distribution of dividends is part of the obligations undertaken in line with a business plan based on which the share capital of CEC Bank was increased, and which was approved by the European Commission at end-2019.
CEC Bank’s net profit stood at RON379.6 million in 2019 and at RON337.7 million in 2020 – the best results in the lender’s post-transition history.
In January-November 2021, CEC Bank had a net profit of nearly RON400 million, up 46% from the same period in 2020. Its assets grew to RON45.62 billion versus RON39.4 billion in November 2020 (+16%). A decision on distributing the profit for 2021 is to be made by shareholders after approving the financial report for 2021 financial year.
End-2021, the Romanian government approved the granting of a subordinated loan to CEC Bank, in the amount of RON1.4 billion, over a ten-year period. The loan was contracted in the second half of December 2021.