The Romanian Savings House - CEC reported a gross profit of over 20.1 million RON in the first half of 2006, almost five times higher than the 4.4 mln RON reported by the end of 2005, the bank announced on Monday.

While net profit stood at 4.2 mln RON by the end of last year, it exceeded 17.5 mln RON in the first six months of 2006.

Credits for nonbanking clients rose 2.5 times compared to the same period last year, reaching 2.6 bln RON, while the reported revenues reached 5.3 bln RON, up 19% compared to Q1 of 2005.

CEC has a capital of 149.7 million RON with total assets of over 6 bln RON and a network of 1,400 units in rural and urban Romania.

Three bidders were announced recently for the privatization of CEC - the National Bank of Greece, Raiffeisen International-Raiffeisen Zentralbank and OTP Bank.