Credit Europe Bank Romania closed 2018 with a net profit of 53 million ROL, up by 13% compared to 2017’s financial results

8 May 2019

Yakup Çil, CEO Credit Europe Bank Romania: The Bank’s consolidated financial performance in 2018 is outlined from several strategic business lines

The net profit of 53 million lei recorded by Credit Europe Bank Romania for 2018, up with 13% as against 2017, comes as a result of the increase in the used turnover of the credit cards from the portfolio, the corporate loans, but also of the decrease in operational expenses.

The Bank’s results have been steadily rising in recent years, largely due to the sustained evolution of Credit Europe Bank’s main products on the domestic market: credit cards – CardAvantaj being the pioneer of shopping cards in Romania – deposits and corporate credits.

The Bank’s consolidated financial performance in 2018 is outlined from several strategic business lines. Loans to customers reached the level of 2 billion lei, the deposits attracted by the bank jumped to 3 billion lei and the credit cards turnover increased by over 7% compared to 2017. The total revenues remained at approximately the same level from 2017, reaching 209 million lei in 2018 and operating expenses decreased by about 10% compared to the previous year. In 2018 we continued to invest in new technologies and the digital component, which are important development lines for 2019 which already mark for Credit Europe Bank Romania the launch of gadgets – sticker + bracelet – AVANTAJ2go and OPTIMO2go, attached to the credit cards from our portfolio”¸ said Yakup Çil, CEO Credit Europe Bank Romania.

On the retail segment, the number of credit cards increased by about 3% and the turnover of the credit cards by approximately 7% as compared to 2017, as a result of consumer demand, but also of attracting new customers and partner stores to the current portfolio, with the Credit Europe Bank credit cards being widely used by customers to make payments. For the year 2019 it is expected an increase in the number of transactions, especially the cashless ones, due to contactless gadgets made available to customers.

 

2018 in numbers

Indicator

2018

Bank assets

4.3 bln. ROL

Credits portfolio

2.0 bln. ROL

Clients deposits

3.0 bln. ROL

Total income

209 mln. ROL

Operational expenses

146 mln. ROL

Net profit

53 mln. ROL