CEC Group recorded a net profit of 687.9 million RON in 2024

CEC Group reports a net profit of 687.9 million RON for 2024. The Group continued to consolidate its market position and recorded an increase in net assets to 99.33 billion RON – up 19 percent compared to the same period last year. CEC Bank’s net profit was 668.2 million RON.

The Group’s net assets increased by 19 percent compared to the same period last year, from 83.61 billion RON to 99.33 billion RON. In the case of the Bank, net assets increased from 83.55 billion RON to 99.25 billion RON.

The Group’s net interest income increased by approximately 30 percent in 2024 (by approximately 483 million RON), due to the increase in interest income, generated by the monthly increase in the balance of loans and investments (securities, banks, etc.), in the context in which market interest rates continued to remain at a high level. Thus, interest income increased by approximately 1,149 million RON, while interest expenses also recorded an increasing trend, with a variation of approximately 666 million RON.

Net commission income increased by approximately 11.6 percent (by approximately 32 million RON), mainly due to the increase in commission income charged by FGCR (+ 70 percent) as a result of accessing a higher level of government programs, reaching 309 million RON at the Group level (266 million RON at the Bank level).

CEC Bank continues to play an important role in the economy, by financing and supporting companies and individuals:

• Over 75,000 new loans were granted in 2024, with a cumulative value of approximately 15.2 billion RON.
• Over 64,000 Romanian individuals benefited from financing worth 3.4 billion RON, intended for real estate investments or the realization of other personal projects. The volume of loans granted increased by 70 percent compared to the previous year.
• New loans granted in 2024 to corporate clients are worth over 11.8 billion RON, of which 4.0 billion RON were granted to clients newly entering the bank’s portfolio. We focused on supporting the investment projects of existing clients, but also on diversifying the portfolio. The main areas of activity financed, in correlation with the programs targeting projects of national and regional interest, were: agriculture, industry, trade and construction.
• To support the increase in the competitiveness of SMEs and their transition to a green economy, CEC Bank added to its product offer loans with free EIF guarantees for the increase in the Competitiveness of SMEs and for the Sustainability of SMEs and small mid-cap enterprises, being one of the first commercial banks in Romania to sign the Guarantee Agreement with the EIF within the Invest EU – Compartment for the Member State Romania.