CEC Bank, Romania’s fourth largest lender by assets, said its pretax profit stood at RON78.1 million, up from RON59.7 million a year earlier.
The bank said total loans rose 7.3% on the year to RON10.3 billion in 2011, while overall deposits increased 16.6% to RON17.6 billion.
CEC reported total assets of RON24.8 billion in 2011, up 14.3% on the year.
The bank’s solvency ratio was 17.06% at the end of December, well above the central bank’s minimum requirement ratio of 10%. Romanian banking system’s average solvency ratio was 14.51% in 2011, according to CEC data.
CEC Bank operates 1,173 branches nationwide and employs 6,279 staff. The bank has a share capital of RON1.09 billion. (EUR1=RON4.4408)