On the whole, the local banking system is unprofitable or registers slim profit. New services and products are needed to render it efficient, Ghetea said at a seminar organized by Alpha Bank, ARB and the central bank.
“Large lenders have cut staff this year, while both small and large banks closed down units,” Ghetea explained. The process will continue next year, he highlighted.
According to Ghetea, the restructuring of CEC Bank started about five years ago. During this interval, the bank reduced its network from 1,415 units to some 1,150 units.