Company type | State-owned |
---|---|
Industry | Finance and Insurance |
Founded | 1 December 1864 |
Founder | Alexandru Ioan Cuza Enric Winterhalder (first director) |
Headquarters | , |
Area served | Romania |
Key people | Bogdan Neacșu – president |
Products | Commercial banking, Investment banking, Private banking, Asset management |
Revenue | 1.47 billion RON (298.7 mil. €) (2021) |
RON 424,3 mil. (2022) | |
Total assets | RON 61.748,7 mil. (2022) |
Website | www |
CEC Bank (prior to May 6, 2008 Casa de Economii și Consemnațiuni, but already known then as CEC),[1][2] is a state-owned Romanian banking institution.[3][4]
In 1990, shortly after the Romanian Revolution of 1989, CEC had a 32.9% share of the Romanian market for banking; by 2006 this had fallen to 4.03%.[5] At the end of 2009, CEC Bank had 1,351 branches, more than 800 of which were in rural Romania.[6] After 2017 CEC began a protracted modernization process and as of January 2024, it had grown back to third-largest bank in Romania.[7]