CEC logs 5.1m-euro profit

The Romanian Savings Bank (CEC) in the first two months of the year derived gross profit worth about 205 billion ROL (some 5.1 million euros), 2.6 times higher than the figures recorded in the year-ago period, according to CEC officials. “Gross profit reported in the first two months accounts for over 40% of the profit projected for the entire 2004. The volume of granted credits also more than doubled, from 3,224 billion ROL, at the end of February 2003, to 7,053 billion ROL in late February 2004,” says CEC president Constantin Teculescu. ZF