The largest state-owned energy companies, which generate turnovers of hundreds of million euros and have huge investment plans, keep their accounts or borrow from foreign banks, while CEC (Romanian Savings Bank) is an almost inexistent option as regards lending to or managing the money of some giants such as Hidroelectrica, Electrica or Transelectrica.

Instead, banks such as ING, BRD, BCR or CitiBank are leading in the preferences of major energy firms controlled by the Economy Ministry. There are multiple reasons leading to this situation.

Companies say CEC does not have funding conditions similar with those of other banks, has outdated products or does not have certain products or services energy firms require available.

Other companies say they work with banks with international exposure, while some energy firms say they do not work with CEC as their beneficiaries and clients do not work in their turn with the only state-owned bank.

As most banks are coping with a rising number of bad loans, as many firms and individuals can no longer afford to pay their instalments, managing an account such as major energy firms can be a factor of stability.

The largest state-owned energy companies, which generate turnovers of hundreds of million euros and have huge investment plans, keep their accounts or borrow from foreign banks, while CEC (Romanian Savings Bank) is an almost inexistent option as regards lending to or managing the money of some giants such as Hidroelectrica, Electrica or Transelectrica.

Instead, banks such as ING, BRD, BCR or CitiBank are leading in the preferences of major energy firms controlled by the Economy Ministry. There are multiple reasons leading to this situation.

Companies say CEC does not have funding conditions similar with those of other banks, has outdated products or does not