On the occasion of 150 years of banking history in Romania, Romfilatelia puts into circulation the anniversary postage stamp issue 150 years since the establishment of the Romanian Savings Bank, thus acknowledging the role played by this institution in the consolidation of the Romanian banking system and economic development of the country. The postage stamp with the face value of lei 8.10 illustrates the contemporary image of the Palace of the Romanian Savings Bank. The stamp of the souvenir sheet with the face value of lei 14.50 reproduces the decorative frieze at the entrance of the Palace of the Romanian Savings Bank on which is written the name of the institution, while the margin of the souvenir sheet illustrates architectural and decorative elements of identity, found on the frontispiece of the building.
150 years ago, among Ruler Alexandru Ioan Cuza’s initiatives to strengthen the young state of the United Principalities, was also that of putting order in the public finances of the country. Thus, as a result of a project belonging to Nicolae Rosetti-Balanescu to establish a Saving House (published in 1845 and inspired by the statutes of saving houses in France and the one in Brasov founded in 1835), Ruler Cuza sanctioned the law creating the Deposits and Consignments House on November 24th, 1864.
The Romanian Savings Bank continues nowadays the activities initiated by the first public credit institution in Romania and those conducted since 1881 by the most important savings home that worked within the Romanian banking system - the Saving House - converted in 1932 in the Savings and Postal Bonds National House, abbreviated in Romanian CEC.
A milestone in the Bank´s history was the year 1948 when the Romanian Savings Bank terminated its status as a central bank, becoming the only saving house and credit institution with responsibilities related to attracting money reserves of the population. In 1996, the Romanian Savings Bank became a stock banking company, the Romanian State being the only shareholder, and in 2008 the process of rebranding the bank as CEC Bank began.
