March 17 (SeeNews) - The Romanian arm of Dutch-based Credit Europe Bank said that it booked a net profit of 34.5 million lei ($7.5 million/7 million euro) in 2022, down from 70 million lei in the previous year, in the context of ongoing investments in digitisation.
Credit Europe Bank Romania’s total income rose to 217 million lei last year, from 214 million lei in 2021, while its operational expenses grew to 176.6 million lei from 137 million lei, it said in a press release on Wednesday.
"2022 was another year of investments for Credit Europe Bank Romania. Digitisation remains our priority. […] We shall continue to introduce new products in 2023 and further," Yakup Çil, CEO of Credit Europe Bank Romania, said.
The bank’s assets declined to 4 billion lei in 2022, down from 4.3 billion lei a year earlier, while its loan portfolio grew to 2.3 billion lei from 2.1 billion lei. Client deposits edged down to 2.4 billion lei in 2022, from 2.5 billion lei in 2021.
The turnover generated by credit cards increased to 1.41 billion lei in 2022, up 12% on 2021. The bank’s solvency ratio stood at 29.59% at the end of last year, compared to 32.38% in 2021.
Credit Europe Bank Romania has been active since 1993, when it operated as Industrial and Commercial Credit Bank. In 2000 the bank became Finansbank and was rebranded to Credit Europe Bank Romania in 2007. The lender serves approximately 500,000 individuals, small and medium-sized enterprises (SMEs) and corporations.
(1 euro = 4.92 lei)
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