The origins of CEC, or the Savings Bank, date back to the latter half of the 19th century. At that time, the economic and political elite joined forces with ruler Alexandru Ioan Cuza in an effort to put the country’s finances in order, given that the Romanian Principalities became one state and were recognised as such by the Great Powers no sooner than in 1859.
CEC carried on the activities performed by the Deposits and Consignments House, the first public credit institution ever to be founded in Romania, and, starting from 1881, by the Savings House, the high profile savings house, whose name was changed to the Savings and Postal Cheques National House in 1932.
