Credit Europe Bank Romania has closed FY 2017 with 54 million RON gross profit

21 March 2018

The results obtained show that, for CEB Romania,2017 was a year of successes on several fronts. The bank had solid financial performance; its pre-tax profit reached a satisfying level of 54 million RON, up 32% YoY; with a solvency ratio of over 20%.

 

"On the retail segment, under the CardAvantaj brand, the credit cards continued to be the main growth engine. Their number further increased and the total credit cards turnover grew over 10% in comparison with 2016. Such growth is the result of increased new customer acquisition and activation of the current portfolio", declared Yakup Cil, CEO of Credit Europe Bank Romania.

In terms of cards, the target for 2018 is equally ambitious; the Bank is aiming an increase in cards sales by 20% and more than 15% growth in credit cards turnover compared to last year, while increasing its market share and profitability. In order to achieve these goals, CEB will continue investing in new technologies, developing strategic partnerships with major retailers, and increasing "marketing spending" in line with the growing business every year.

Despite the fierce competition on the market, in 2017 our corporate and SME new lending activities didn't decelerate and our corporate and SME loans slightly increased. During 2017, the total customer deposits remained stable over EUR 600 million levels with a well-diversified deposit base.

"Looking ahead, we are confident in our capacity to continue our profitable growth rate in 2018, as well as beyond this year. For 2018 our main objectives will continue to be the development of the cards segment, as well as lending activities to large companies and SMEs", added Yakup Cil.

2017 figures

Total assets*

4,682

Net loan book*

2,244

Customer deposits*

2,933

Operating income - before provisions*

221

Profit before tax*

54

Credit cards turnover*

1,096

Total number of credit cards

315 937

Branches

55

ATMs

120

POS

9252

Employees

893

 all monetary figures in million RON


About Credit Europe Bank

 

In Romania, Credit Europe Bank offers a great number of products and services for individuals, SMEs and large companies, through its 55 branch offices, agencies and workstations, as well as through alternative channels of distribution such as ATMs, POS terminals, Internet Banking and Phone Banking.

In 2017, Credit Europe Bank (Romania) SA celebrated 24 years of existence on the local market. Member of the Credit Europe Bank NV Dutch financial group, the bank has been active since 1993, when it operated under the name Commercial and Industrial Credit Bank, subsequently becoming Finansbank (2000) and then, in 2007, following a rebranding process, receiving the Credit Europe Bank Romania naming.

Further information about the bank's products and services is available at www.crediteurope.ro and www.cardavantaj.ro.