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Starting Monday, CEC Bank will become the primary dealer on the government bond market, informs the bank in a release.
According to the quoted source, this status allows the bank to participate directly in the public auctions and subscriptions of government bonds organized on the primary market, together with the other 7 financial institutions that have the status of primary dealer.
"Obtaining the status of primary dealer is a confirmation of the important role that CEC Bank plays in the Romanian financial markets. The government bond market will grow in the next period and access to this market will allow us to meet the financing needs of the state, and, at the same time, to diversify our offer of savings and investment tools available to customers," said Bogdan Neacsu, General Manager of CEC Bank.
In the last 12 months, the volume of government bond transactions carried out by the bank on the secondary market, weighted with maturity coefficients, amounted to over RON 25 billion, Agerpres.ro informs.
"Along with a steady presence in the primary government bond market, CEC Bank has thus met the legal turnover requirements required to obtain primary dealer status. This status will allow CEC Bank to participate in government bond auctions and issues, both on their own account and on behalf of their clients," the release said.
CEC Bank is the financial institution with the longest tradition in Romania. Founded in 1864, CEC Bank currently has the largest national network, with more than 1,000 branches and territorial units and assets of RON 50.6 billion, at the end of 2021.
CEC Bank is a top universal bank on the Romanian market and offers a complete range of products and services to individuals, SMEs and large corporations, through multiple distribution channels: banking units, ATM networks, internet banking, mobile banking and the virtual store CEC_IN - where 100% online banking products and services can be accessed.
