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Financial & Banking

ANAF reimburses in August VAT worth over 735 million lei

Monday, August 22, 2016

 The National Agency for Fiscal Administration (ANAF) reimburses in August VAT worth over 735 million lei, out of which 44.01 million lei are compensated, and 590.58 million lei are returned, according to a release by the ...

OTP Bank Romania signed CHF loans conversion deals for more than 7,000 clients

Monday, August 22, 2016

More than 7,000 clients of OTP Bank Romania have already signed the conversion contracts within the swiss francs (CHF) loans conversion program, after accepting the offers proposed by the bank, business-review.eu reads. This accounted for 72 percent of the bank’s clients with CHF loans. “Through the launch of the CHF loans conversion program, we aimed to provide to our customers one of the most competitive solutions ...

Eurostat: Romania’s annual inflation rate went up to -0.3 pct in July

Monday, August 22, 2016

The annual inflation rate was 0.2 percent in July 2016 in Euro zone, a slight increase after in June the consume prices registered an annual increase of 0.1 percent, shows the data published by the European Statistics Agency (Eurostat) quoted by business-review.eu. According to Eurostat, Romania’s annual inflation rate zone went up to -0.3 pct in July from -0.7 percent in June and -3 percent in May. Even if it’s ...

Individuals with overdue taxes was down by 60,000 in Q2 2016

Monday, August 22, 2016

The number of individuals with overdue taxes was down by 60,000 in Q2 2016 from the previous quarter, as 126,365 individuals were registered as of June 30 with total tax liabilities in excess of 3 billion lei, according to data released by the National Tax Administration Agency ...

Best three BET companies had a contribution of more than 58 percent to index formation

Monday, August 22, 2016

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The best three companies included in the composition of the BET index of the Bucharest Stock Exchange (BVB) had a contribution of more than 58 percent of the index formation early this week, according to data released by BVB. Thus topping the BET index ...

Euroins Romania's Jan-July premium income rises 13.2% y/y

Monday, August 22, 2016

  The premium income of Euroins Romania rose by an annual 13.2% to 103.4 million euro ($117 million) in January-July, the insurer’s Bulgaria-based parent Eurohold [BUL:4EH] said quoted by seenews.com. In July alone, Euroins Romania’s premium income rose 26.4% on the year to 15.4 million euro, Eurohold said in a notice filed with the Sofia bourse late on Wednesday. Euroins Romania's premium income from ...

OTP Romania clients opt into Swiss franc conversion scheme

Monday, August 22, 2016

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More than 7,000, or 72%, of OTP Bank Romania clients holding FX loans denominated in Swiss francs opted into the bank?s Swiss franc conversion scheme, the bank said yesterday, according to Hungarian news agency MTI quoted by http://bbj.hu/. At the end of 2015, OTP Bank Romania offered a partial cancellation of debt and lower interest rates to more than 10,000 of its clients if they converted their Swiss franc loans to Romanian lei or ...

NNRomania records overall growth across all business segments in H1 2016

Monday, August 22, 2016

NN Romania has recorded overall growth across all business segments in the first half of 2016, on the back of clients’ growing interest for health insurance products as well as for financial plans for protection and saving for the future through private pensions, business-review.eu informs. Between January-June 2016, the gross written premiums written recorded a sustainable year-on-year growth of 3.6 percent, to RON 319.7 million. On the ...

RBI H1 net profit in Romania drops 27% on new mortgage default law

Monday, August 22, 2016

Raiffeisen Bank International (RBI) said on Thursday its first-half net profit from operations in Romania dropped to 37.9 million euro ($42.8 million) from 51.8 million euro in the same period last year due to a mortgage default law, seenews.com reports. "The 'walkaway law' came into force in Romania in the second quarter of 2016. The expected take-up rate resulted in a charge to profit/loss from banking business due to governmental measures of 43 ...

ZEW economic sentiment worsens further in Croatia, Romania in Aug

Monday, August 22, 2016

Croatia and Romania were, once again, among the only three Central and Eastern European (CEE) countries to suffer a drop in economic expectations in August, while the other countries in the region showed an increase in optimism, Germany-based Centre for European Economic Research, ZEW, said on Thursda, quted by seenews.com. The ZEW-Erste Group Bank Economic Sentiment Indicator for CEE rose by 3.5 points to 15.4 points in August, after a ...

Romania sells 500 mln lei (112 mln euro) in 2021 T-bonds, yield drops – table

Monday, August 22, 2016

Romania sold on Thursday 500 million lei ($126 million/112 million euro) in Treasury bonds due March 22, 2021, in line with target, central bank data showed quoted by seenews.com. The average accepted yield on the bonds dropped to 2.13% from 2.40% at the previous auction, held in July, data published on the bank's website indicated. Demand for the notes, which bear an annual coupon of 3.25%, was 999 million lei, up from ...

Balance of payments and external debt - June 2016

Monday, August 15, 2016

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In January - June 2016p, the balance-of-payments current account posted a deficit of EUR 2,507 million, compared with EUR 374 million in January - June 2015; the goods balance and primary income balance recorded higher deficits, by EUR 1,114 million and EUR 1,067 million, respectively, while the surplus on secondary income stood EUR 71 million lower and that on services balance widened by EUR 119 million. Non-residents’ direct investment in ...

BNR: 3,907 debt discharge notifications as of July 20

Monday, August 15, 2016

 As of July 20, debtors had filed with banks 3,907 debt discharge notifications for nearly 1.13 billion lei; of these, 2,634 notifications (67.4 percent) were challenged by the banks, Governor of the National Bank of Romania (BNR) Mugur Isarescu announced ...

Isarescu doesn't agree to mad public the pay of the central bank's directors'

Monday, August 15, 2016

The National Bank of Romania (BNR)'s governor, Mugur Isarescu doesn't agree to the pay of the central bank's directors' to be made public, considering that they work in an international market and their payment should be competitive to those in other ...

Bloomberg: East Europe Growth Nears Pre-Lehman Highs to Lead the Pack in EU

Monday, August 15, 2016

Romanian economy soars fastest since 2008 on wages, tax cuts Growth in Poland trails forecasts, Hungary seen meeting target Eastern Europe staked out four of the five ...

Eurostat: Romania posts biggest economic growth in EU in 2016 Q2

Monday, August 15, 2016

According to data released Friday by Eurostat, in Q2Romania posted an economic growth of 6 percent, the biggest among European Union member states, business-review.eu informs. According ...

Government will amend the Tax Code

Monday, August 15, 2016

Prime Minister Dacian Ciolos on last Thursday said that in the first sitting it is allowed to issue Emergency Ordinances, the Government will amend the Tax Code to ...

BVB's profit declined 44 percent in H1 2016

Monday, August 15, 2016

 The net profit of the Bucharest Stock Exchange (BVB) declined 44 percent, to 1.8 million lei, in H1 2016, according to a report posted on the BVB ...

Romania's govt raises 2016 GDP growth fcst to 4.2%, makes first budget

Monday, August 15, 2016

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Romania's government said on Wednesday it has approved a first budgetary amendment, betting on a higher economic growth forecast for 2016, of 4.2%, instead of a previous 4.1%, seenews.com reports. The government increased both revenue and expenditure by 3.82 billion lei ($958 million/857 million euro) each, keeping the general government deficit at 2.95% of GDP, it said in a press release. The new GDP that the government is ...

SIF 4 Muntenia recorded a net profit of 59.9 million lei, up by 47.6%

Monday, August 15, 2016

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SIF 4 Muntenia recorded a net profit of 59.9 million lei, in the first quarter of this year up by 47.6% as compared to the similar period of 2015, a report published by the BVB says ‘In QI 2016 there were collected dividends worth 43.75 million lei and the income from the net dividends were 58.44 million lei. As the reduction almost continuous of the prices of the shares and the expectations that the trend goes on, the number of shares purchased ...

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