CEC Bank also reports increases of 25.5% in bank assets for 2020 and of 16% for the first quarter of 2021.
The loan portfolio grew 13.2% versus end-March 2020, to RON23.6 billion, and the best results were registered by the mortgage lending segment (+36.2%) and corporate lending segment (+13.2%), including due to the IMM Invest program.
Deposits and amounts attracted from customers totaled RON35.7 billion at the end of the first quarter of 2021, up 23.3% on the year, given the accelerated increase in current account balances.
Net fee income grew 8.7% to RON70.1 million and net interest income was stable, reaching RON277.4 million, considering that the increase in assets was offset by a reduction in interest rates on the market (the three-month money market rate fell from an average 3.03% in the first quarter of 2020 to 1.64% in the first quarter of 2021). The bank had a prudent policy, seeing an increase of nearly RON100 million in bad loan provisions.
In 2020, CEC Bank saw a record increase in assets, of 25.5%, up to RON41.25 billion. Thus, the bank managed to boost its market share by 0.73 percentage points versus 2019, taking significant steps towards achieving the growth and modernization objectives included in the business plan that was the basis of the bank’s recapitalization, approved by the European Commission in 2019.
CEC Bank granted new loans worth nearly RON7 billion, of which RON1.8 billion – loans for private individuals and RON4.6 billion – loans granted to companies and public authorities.
Deposits and amounts attracted from customers grew to RON34.6 billion in 2020 (+24.3%). The biggest increase was registered on the current account segment (43%), in line with CEC Bank’s strategic objectives to diversify services and increase the client portfolio.
In 2020, CEC Bank reported a net profit of RON337.7 million. Net fee income grew nearly 6% and net interest income was stable at RON1.1 billion.
End-2020, the total capital ratio stood at 28.2% (versus 23.1% in 2019). The non-performing loan (NPL) ratio saw a slight upward trend, increasing from 5.04% to 5.52%, considering that on the private individual segment, this indicator stayed at a very low level: 2.17%.