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Financial & Banking

BNR Board decisions on monetary policy: increase of the monetary policy rate to 2.00 percent per annum

Monday, January 15, 2018

In its meeting of 8 January 2018, the Board of the National Bank of Romania (BNR) decided: to increase the monetary policy rate to 2.00 percent per annum from 1.75 percent per annum as of 9 January 2018; to raise the deposit facility rate to 1.00 percent per annum from 0.75 percent per annum and the lending facility rate to 3.00 percent per annum from ...

The financial debts of the public administration dropped at 23.9% of GDP in Q3 2017

Monday, January 15, 2018

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Financial debts of the public administration, expressed as share in the GDP dropped with 1.8 percentate points in Q3 2017 as compared to the similar period of 2016, reaching a value of 23.9%,the report of the BNR shows.‘Shares ownership and other state participations diminished with 0.6 percentage points reaching a level of 8.9% of GDP. The deposits of public administration dropped by 0.4 percentage points up to 8.2% of GDP and other accounts dropped by 0.7 ...

World Bank : Growth in Europe and Central Asia to slow to 2.9 percent in 2018 

Monday, January 15, 2018

* Global Economic Prospects: Europe and Central Asia Broad-Based Upturn, but for How Long? According to the January 2018 issue of the World Bank Global Economic Prospects, growth in Europe and Central Asia strengthened more than expected to 3.7 percent in 2017 from 1.7 percent the previous year. The acceleration in activity was largely driven by ...

World Bank raises Romania's 2018 GDP growth forecast to 4.5%

Monday, January 15, 2018

The World Bank said it has increased its forecast for Romania's economic growth in 2018 to 4.5% from 3.7% projected in June 2017, seenews.com reads. The projection for Romania's GDP growth in 2019 was raised to 4.1%, up 0.6% compared to its June forecast, the World Bank said in its January 2018 Global Economic Prospects report. Romania's economy is expected to expand by 3.5% in 2020, figures from the report show. The World Bank significantly revised its estimate for Romania's ...

JASPERS regional support by the Commission and the EIB needs better targeting, say EU Auditors

Monday, January 15, 2018

* An EU initiative managed by the European Investment Bank (EIB) to help Member States apply for Cohesion and Regional Funds suffers from significant weaknesses, according to a new report from the European Court of Auditors. The 'Joint Assistance to Support Projects in European Regions' initiative (JASPERS) contributed to quicker project approval, but could not have an impact on absorption of EU funds, say the auditors. They find that support under JASPERS ...

Number of individuals in arrears with banks and non-bankig financial institutions dropped to 666,381 in Nov

Monday, January 15, 2018

The number of individuals in arrears of over 30 days with the banks and non-bank financial institutions decreased by 0.39% in November, compared to the previous month, down to 666,381, according to the most recent data of the National Bank of Romania (BNR).These persons had arrears of over 7.69 billion lei. Most of the amount was in lei and euro, respectively 3.07 billion in lei and the equivalent of 3.17 billion lei in euro. Depending on the delay category, the ...

Fondul Proprietatea to buy back up to 1.2 bln own shares

Monday, January 15, 2018

Romanian property restitution fund Fondul Proprietatea [BSE:FP] said on Thursday it is launching a share repurchase programme at a price of 0.52 lei ($0.13/0.11 euro) per share, seenews.com informs. Under the tender offer, the fund intends to repurchase up to 1.2 billion shares, both in the form of shares and global depositary receipts (GDRs) from its shareholders, it said in a bourse filing. Each global depositary receipt ...

BVB in 2017: 4 private companies listed and the largest IPO in the history of the local capital market

Monday, January 15, 2018

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Bucharest Stock Exchange (BVB) registered one of its most dynamic years in 2017, romaniajournal.ro reads. Four private companies listed their shares on BVB last year alone, which also recorded the largest IPO of a private company in the history of the local capital market, as a press release informs. DIGI Communications was the first company to go public last year, after selling a 25.6 percent stake worth RON 944 million (EUR 207 million), the largest ...

Bulgarian lev, Romanian leu to start trading on Serbia's FX market

Monday, January 15, 2018

Serbia's central bank, NBS, said on Thursday it has decided to put the Bulgarian lev and the Romanian leu on its list of currencies traded on the foreign exchange market as of February 1, seenews.com reports. In making this decision, the executive board of the central bank was guided by the important role of Bulgaria and Romania in the foreign trade of Serbia, as well as the potential for strengthening and enhancing the economic cooperation with ...

Anghel (BVB): If the stock exchange were a barometer, we can say Romanian economy whirred in 2017

Monday, January 15, 2018

The Romanian capital market had a very good year, and if the stock exchange would be a barometer, we can even say that the Romanian economy whirred in 2017, Bucharest Stock Exchange (BVB) head Lucian Anghel told a press conference."If the stock exchange were a barometer for the economy, then we can even say that the Romanian economy whirred in 2019, with a 19 per cent yield recorded (the BET-TR index - editor's note) in 2017, which is not little. This is above the ...

BNR survey among bankers: for the population, the consumption loans could be ‘significantly’ tightened this winter

Monday, January 8, 2018

The banks relaxed this autumn the standards for creditation for the loans destined to purchase of houses and land offered to the population and tightened the conditions for the consumption loans, according to the BNR surveys published on Monday. For the winter of 2017, the banks estimate the constance of the standards for creditation in the case of mortgage loans, while for the consumption loans a tightening of the conditions for the latter, the quoted document ...

Arrears down 0.84pct for loans granted in lei; 9.4pct for loans in foreign currency in Nov2017

Monday, January 8, 2018

Total value of arrears granted in lei to both the population and companies, as recorded in November 2017, accounted for 5.46 billion lei, down 0.84 per cent compared with October 2017, while arrears for loans granted in foreign currency decreased by 9.47 per cent, down to 6.25 billion lei (equivalent), according to a report of the National Bank of Romania (NBR).The total value of loans granted in lei reached 145.89 billion lei in November (showing an increase of ...

Non-governmental credit balance granted by credit institutions up almost 1 pct in Nov

Monday, January 8, 2018

The non-governmental credit balance granted by credit institutions gained 0.9 per cent in November against October, up to 235.63 billions lei, according to a release of the National Bank of Romania (BNR)."The credit in lei increases 1.4 per cent (0.7 per cent in real terms), while the credit in foreign currency expressed in lei increased 0.2 per cent (expressed in euro, the credit in foreign current went down 0.7 per cent). On November 30 2017, non-governmental ...

Non-governmental clients' deposits up by 0.7pct to over EUR 63.5 billion in November 2017

Monday, January 8, 2018

The non-governmental clients' deposits have grown in November 2017 by 0.7pct as compared to October 2017, up to RON 293.23 billion (rd EUR 63.5 billion), informs a press release of the National Bank of Romania (BNR)."The RON deposits of the population's households decreased by 0.2pct up to RON 107.983 billion. At 30 November 2017, the deposits in the national currency (RON) of the population's households recorded an increase by 7.9pct (4.5 in real terms) against ...

Number of members with Investors Guarantee Fund shrinking

Monday, January 8, 2018

The number of the Investors Guarantee Funds (FGI)'s members on the share market was decreasing at the end of the third quarter of 2017, four of which being in the withdrawal procedure, says a report of the FGI."At the end of September 2017, the total offset investment was worth RON 1.729 billion (up by 1.75pct as compared to Q2 2017), and the fund comprised 40 m,embers, out of which 4 members in procedure of withdrawal. Hence, the average offset investment's value ...

Romania's bank lending growth slightly speeds up in Nov

Monday, January 8, 2018

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The value of Romanian banks' outstanding loans to the non-government sector grew 6.8% year-on-year to 235.6 billion lei ($60.1 billion/50.7 billion euro) in November, following a 6.7% increase in October, the central bank, BNR, said on Wednesday quoted by seenews.com. Private lending in lei increased 16.1% on the year to 145.6 billion lei in November, following a rise of 16.5% in October, BNR said in a statement. Private lending ...

KPMG: Global fintech landscape dominated by innovative solutions focused on radically transforming  financial services

Monday, January 8, 2018

A recent global survey conducted by KPMG shows that financial institutions perceive fintech as being the main source of disruption in the sectors in which they are active (as seen by 57% of respondents, compared to 51% for regulatory changes and 46% who see new business models as the main disruptor). According to the survey, banks, insurers and asset management companies believe technologies, such as artificial intelligence, blockchain and the Internet of things, will ...

BSTDB lends 69.5 mln lei (15 mln euro) to Romania's Agricover Credit IFN

Monday, January 8, 2018

The Black Sea Trade and Development Bank (BSTDB) said on Wednesday it has provided 69.5 million lei ($17.8 million/15 million euro) to Agricover Credit IFN, a Romanian financial institution specialised in financing the agricultural sector, seenews.com informs.  The financing will offer Romanian farmers improved access to the funding they need to improve productivity, generate added value, and create jobs, BSTDB said in a press ...

BNR: 3% interest rate increase for credits in lei could significantly affect activity of 57% of companies

Monday, January 8, 2018

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An increase of up to 3% of interest rates for lei could significantly affect the activity of 57% of companies, when the high level of taxes, the unpredictability of fiscal environment and competition remain the most important problems faced by companies, according to the opinion poll on access to financing of non financial companies in Romania, published by the National Bank of Romania (BNR). Robor index for three months, according to which interest ...

EBRD is financing the acquisition of new buses in Brasov

Monday, January 8, 2018

The European Bank for Reconstruction and Development (EBRD) is providing up to RON 114 million (EUR 25 million equivalent) to finance the acquisition of 105 new buses by the Romanian city of Brasov, that are going to be used by more than 250,000 people, as a press release informs, romaniajournal.ro reports. The diesel buses will meet EURO-6 emission criteria and their use will generate significant CO2 and toxic emissions savings. As low-floor carriages ...

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