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Financial & Banking

BNR: Balance of payments and external debt - June 2017

Monday, August 21, 2017

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In January - June 2017, the balance-of-payments current account posted a deficit of EUR 2,745 million, compared with EUR 1,958 million in January – June 2016; the deficit on trade in goods widened by EUR 1,051 million, the secondary ...

Romania’s Economy Named EU's Fastest Growing

Monday, August 21, 2017

Romania’s economy grew by a healthy 5.9 percent in the second quarter of the year, pushing its GDP to its highest level in 12 months. Romania’s economic growth exceeded expectations in the second quarter of 2017, keeping its position as the fastest growing country in Central and Eastern Europe. Romania’s gross economy went up by 5.9 per cent in the second quarter of this year ...

AeRO market of BVB will have 35 new listed companies by the end of this year

Monday, August 21, 2017

The AeRO market of the Bucharest Stock Exchange (BVB) will have 35 new listed companies by the end of this year, with eight companies having been recently added on Tuesday, BVB CEO Ludwik Sobolewski told a press conference. "This is the result of a historic moment. Considering that the merger by absorption of SIBEX - Sibiu Stock Exchange is now close to its end, more companies will be traded on the AeRO market. We are trustful that this new ...

Romanian bank BCR's H1 net profit halves

Monday, August 21, 2017

Austria's Erste Group said on Friday the net profit of its majority owned Romanian unit, Banca Comerciala Romana (BCR), halved to 305 million euro ($361 million) in the first six months of 2017, compared to 636 million euro in the same period of last year, seenews.com reads. The decline was mainly due to the base effect resulting from the recording of consistent revenues from the sale of holdings and reps in the balance sheet in the first half of 2016 ...

Raiffeisen Bank’s net profit in H1, slightly higher by 2 pc to EUR 55 M

Monday, August 21, 2017

Raiffeisen Bank ended the first six months of this year with a net profit in a slight increase of 2 percent over the same period last year, romaniajournal.ro reads. According to a press release, in comparable terms, excluding non-recurring events, Raiffeisen Bank’s net profit increased up to EUR 55 million. “Our half-year results come as a confirmation of our strong positioning on the Romanian market. This year marks our 20-year anniversary ...

UniCredit Bank posts a profit of over RON 225 M in Romania for H1

Monday, August 21, 2017

UniCredit Bank Romania reported a consolidated net profit of RON 225.2 million after the first six months of this year 0.3 percent slightly lower year-on-year, according to the financial report sent to the Bucharest Stock Exchange on Wednesday, romaniajournal.ro reads. UniCredit Bank had RON 860.5 million consolidated operational income, higher by 0.8 percent comparing with the same period of 2016. This evolution is generated, mainly, by increase of ...

Euroins Romania cuts stake in Bulgaria’s Synthetica

Monday, August 21, 2017

Bulgaria’s Synthetica [BUL:0SYA] said on Wednesday insurer Euroins Romania has decreased its stake in the company to 13.81%, seenews.com reports. Following the transaction, Euroins Romania owns 414,184 shares in the company, Synthetica said in a bourse filing. As at end-June Euroins Romania held a stake of 17.05% in Synthetica, according to the Bulgarian company’s financial statement. On ...

Sobolewski : liquidity, the major challenge in the Romanian capital market

Monday, August 21, 2017

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The major challenge in the Romanian capital market is liquidity, especially the equity market's liquidity, notes Bucharest Stock Exchange CEO Ludwik Sobolewski in a commentary published on ...

Analyst: Romania is still far from having reached the pre-crisis stock market peaks

Monday, August 21, 2017

Romania is still far from having reached the pre-crisis stock market peaks and, from the point of view of individual investors, things are entering a do-it-yourself area of adeptly building a portfolio, Professor of behavioural finance at the Bucharest Academy of Economic Studies (ASE) Adrian Mitroi told ...

Assets of the mandatory pension funds (Pillar II) amounted to approximately 37.197 billion lei as of July 31, 2017

Monday, August 21, 2017

Assets of the mandatory, privately-managed pension funds (Pillar II) amounted to approximately 37.197 billion lei as of July 31, 2017, up 3.09 percent from June 30, 2017, according to data provided by the Financial Supervisory Authority (ASF). Government ...

BNR Board: the annual inflation rate had followed a steeper upward path in June to reach 0.85 percent

Monday, August 14, 2017

The National Bank of Romania Board members present at the meeting: Mugur Is?rescu, Chairman of the Board and Governor of the National Bank of Romania; Florin Georgescu, Vice Chairman of the Board and First Deputy Governor of the National Bank of Romania; Eugen Nicol?escu, Board member and Deputy Governor of the National Bank of Romania; Liviu Voinea, Board member and Deputy Governor of the National Bank of Romania; Marin Dinu, Board member; Daniel D?ianu, Board ...

Reuters: Romania's central bank to alter policy to curb inflation

Monday, August 14, 2017

Romania's central bank will alter monetary policy to fight inflation by narrowing the gap between lending and deposit rates, Governor Mugur Isarescu said on Tuesday as the bank raised its inflation forecast for this year and next. Excess demand, volatile food prices and energy tariff hikes will push inflation to 1.9 percent at the end of this year - 0.3 percentage points higher than the previous forecast - and 3.2 percent at the end of 2018, the bank ...

RBI's H1 after-tax profit in Romania leaps 46% on lower provisioning costs

Monday, August 14, 2017

Raiffeisen Bank International (RBI) said on Thursday its after-tax profit from operations in Romania jumped 46% on the year to 55 million euro ($64.5 million) in the first half of 2017 due to lower provisioning costs, seenews.com reads. In the six months through June, net provisioning fell to 20 million euro from 26 million euro in the corresponding period of 2016, the bank said in its H1 2017 financial report. In the ...

Moody's upgrades Romanian top lender BCR's deposit rating to Baa3

Monday, August 14, 2017

Moody's said it has upgraded the long-term local and foreign-currency deposit ratings of Romania's top lender Banca Comerciala Romana (BCR), part of Austria's Erste Group, to Baa3/Prime-3 from Ba1/Not Prime, seenews.com reports. At the same time, the ratings agency has upgraded the bank's baseline credit assessment (BCA) to b1 from b2, its adjusted BCA to ba2 from ba3 and its long-term and short-term Counterparty Risk Assessment (CRA) to ...

Romania's Banca Transilvania boosts H1 net profit

Monday, August 14, 2017

  Romania's Banca Transilvania [BSE:TLV] said on Thursday its net profit rose by 8% year-on-year in the first half of 2017, reaching 496 million lei ($127 million/109 million euro), seenews.com informs. "Our results confirm the internal growth estimations for this year and we are pleased to see that our role in the Romanian economy grows with every progress achieved by each of our business lines. This progress translates ...

ASF eliminates, as of October 1, the 1pc quota applied to local intermediaries operating on the capital market, sets factor ‘N’ value

Monday, August 14, 2017

The Board of the Financial Supervisory Authority (ASF) has decided at the meeting on Wednesday to abolish the application of 1% quota on the operating income for local intermediaries – financial investment services companies and credit institutions registered in the ASF Register as intermediaries, the measure will come into force as of October 1, 2017, romaniajournal.ro reads. According to a press release, the amendment to Regulation no. 16/2014 ...

BVB’s profit in H1, up by 180 pc yoy, confirming its position in the region

Monday, August 14, 2017

The Bucharest Stock Exchange (BVB) had the best quarter of the last two years, in terms of trading value in all markets, with new public offerings from private companies and new educational projects dedicated to both investors and entrepreneurs, romaniajournal.ro informs. The net profit for the first half amounted RON 5.15 million, up by 180 percent year-on-year (RON 1.80 million in H1 of 2016), the profit attributable to the shareholders of the parent ...

Berenberg's Hesse: MSCI's Romania Total Return index jumps over 150pct in 5 years in USD terms

Monday, August 14, 2017

The share price performance of Romanian listed companies has been outstanding, as witnessed by the MSCI's Romania Total Return index which jumped more than 150pct over the last 5 years in USD terms, according to Carsten Hesse, EME Equity Strategist with Germany's Berenberg investment bank. "Thanks to a very strong economic recovery and a booming private ...

‘First House’, a “modest” loan program for Romanians, Lazea says

Monday, August 14, 2017

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The “First House” program had a limited use and only by low-income borrowers, similar to the situation in the case of standard mortgage loans. Thus, the program had a modest role from a social point of view, Valentin Lazea, National Bank of Romania (BNR) Chief Economist said on Wednesday, quoted by romaniajournal.ro. ”The only social aspect that this program provides is a greater access of young people to the purchase of a dwelling, ...

Romanians gained from pensions Pillar II over EUR 1.5 bln

Monday, August 14, 2017

Romanians made gains from pensions Pillar II, as the mandatory private pensions had gross contributions of RON 28.2 billion in the 9 years of activity and the difference of RON 35.1 billion represents the total gain from investments, so that Romanians gained over EUR 1.5 billion, according to a release of the Association for Privately Administered Pensions from Romania (APAPR), business-review.eu informs. According to the Association’s data, over ...

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