This is a spectacular growth even in times of economic boom, given that other banks cut this expense category. This is also one of the few pieces of information made public about the pay level in the state-owned bank.
Out of the members of the board of directors, Bogdan Dragoi, state secretary with the Finance Ministry revealed the amount collected in 2010, RON408,276. Another member of the board, Dragos Banescu, general secretary with the Finance Ministry, collected RON38,074 for the last month of 2010.
On December 31, 2010, CEC’s board of directors comprised 10 members, four of which also hold executive positions.
According to the international financial reporting standards that will be used across the entire banking system as of 2012, CEC posted RON34.5 million net profit last year, down almost 41% from 2009.
(EUR1=RON4.2527)
(English version by Loredana Fratila-Cristescu)