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CEC Bank, main creditor of companies in Q1

The Finance Ministry awaits in a few days the green light from Brussels to transfer the first installment of RON 450 M for the capitalization of CEC Bank, according to the daily Romania Libera. CEC Bank, the only state commercial bank, has increase the balance of the credits granted to firms in the first quarter by 22.7 per cent (RON 611 M), reaching a level of RON 3.3 M.

At the same time, the remaining banking system reduced the balance of the credits in RON granted to firms by RON 44 M (1 per cent), arriving at the end of March at RON 39.6 bln (without CEC Bank). Consequently, in the first quarter in which the crisis has powerfully hit the segment of the companies, especially the SMEs, CEC Bank was the main creditor of the small and medium sized societies (IMM), which benefited also from the best interest rates in the banking system. Until the end of the year, CEC Bank estimates that it can increase the balance of the credits granted to firms by another RON 1.8-2 bln, against the current level, if the crediting rate is preserved, according to Radu Gratian Ghetea, president CEC Bank.

CEC Bank maintains in the first quarter the exposition from loans granted to population at the level of RON 5.2 bln, focusing on the companies segment. In the first three months, CEC granted to firms 1,263 new credits, worth RON 582 M, and thus their weight in the total loans rose from 33 to 38 per cent. Many of the new credits from Q1 went to agriculture, in the amount of RON 219 M, while the balance - RON 362 M - to other domains. In the first four months from 2009, the farmers took from CEC Bank credits of around RON 400 M for projects of accession to European funds, for which the value of the grant rises to RON 442 M.

On the occasion of the anniversary of 145 years, CEC Bank will launch a deposit on 145 days with an interest rate of 13 per cent, the biggest of all the saving products.

 

Sursa: http://www.nineoclock.ro

Tags: cec granted credits first companies imm

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