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CEC Bank avoids financial crisis

CEC Bank President Radu Gratian Ghetea announced at last week-end, in Tulcea (east), that the institution's portfolio on the first nine months of the year is 11.2 times higher than the balance last year-end.

'At the end of September, the bank had a loan portfolio of 9.1 billion lei, 11.2 times higher than the last year-end balance. I think it is relevant that, whereas the banking system is confronted with a stagnation, almost a reduction in loan activity, we advanced by 11.2 percent', stated CEC Bank President Radu Gratian Ghetea, who is also the President of the Romanian Banks Association (ARB).

ARB President said that the most spectacular growth was registered on SMEs zone, where CEC Bank had in the first nine months of this year a growth of 34.43 percent compared to last year.

'We have a 16 percent growth for deposits, CEC Bank reaching at 13.1 billion lei. As such, we have 9.1 billion in loans and 13.1 billion in deposits. It is a very good situation, to be envied especially in crisis conditions, when some problems with liquidity occurred and some banks had a loans-deposits ratio higher than 1, even 3.5. We are even below 1, and the bank's solvability stood at 18.89 percent, a thing not many people can boast with', CEC Bank President also said.

The banking institution recouped market share losses registered up to two years ago, the bank being ranked 7th in the banks top, on June 30, 2009.

'We have more than three million customers and I hope this year we will near 1,000 ATMs and what is more important is the fact that, alongside millions of individual customers, we have at present some 100,000 corporate customers. Two years ago the ratio between individual and corporate loans was clearly in the favor of individuals, who accounted for almost 80 percent of CEC Bank customers. Now corporate loans exceeded 45 percent and we set the objective to go beyond 50 percent of the loans in this sector', noted President Ghetea.

According to the source, the bank set as its objective to back SMEs, local administrations, as well as the population in the rural zone and people seeking to access structural funds.

'We have granted a lot of loans for the attraction of European funds and as such we brought into the country grants in the value of 640 million lei, namely 150 million euros - in my opinion an important amount', underlined CEC Bank President.

Sursa: http://www.agerpres.ro

Tags: cec loans president percent

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