Credit Europe Bank Romania, one of the minor banks on the market (has a market share of about 1.2% by assets) but very active on the card market (it controls more than 15% of the cards market) has announced on Thursday a gross profit of EUR 8 million and a solvency ratio of over 18%.
“On the retail segment, under the brand CardAvantaj, credit cards continued to be the main driver of development. Their number has increased by 50% and the total turnover in this area increased by 15% as compared to 2015,” said Yakup Cil, CEO of Credit Europe Bank Romania.
Regarding cards, the target for 2017 is similarly ambitious, the bank aims sales increase of 20% and a turnover higher by 15% against last year. In order to achieve this goal, at the end of 2016 the Bank launched a new product called ‘Ferrari Card’. By introducing this card, Credit Europe Bank now covers the entire segment of cards (CardAvantaj, Optimo Card, Ferrari Card).
In 2016, customer deposits increased overall by 18%, approaching the level of EUR 700 million.
“Our main concerns in 2017 will be the increasing of cards segment and the lending activities for large companies and SMEs,” Yakup Cil said.
Credit Europe Bank (Romania) is member of the Dutch financial group Credit Europe Bank NV, the bank being operational in Romania since 1993 under the name Banca de Credit Comercial si Industrial, subsequently becoming Finansbank (2000), and then, in 2007, following a rebranding process, receiving the name Credit Europe Bank Romania.