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Financial & Banking

Provident Financial Romania to launch online consumer loans, insurance

Monday, March 6, 2017

The British group International Personal Finance (IPF), which oiwns Provident Financial Romania, granted loans of over GBP 301 million in Romania, Hungary and Bulgaria last year, business-review.eu reads. This accounted for a growth of 17 percent compared with 2015, the highest growth being in Romania, of 27 percent. This year, Provident plans to sell online consumers loans and insurance products in ...

Finances: January incomes 5% lower than in January 2016

Monday, February 27, 2017

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Incomes of the general consolidated budget are 5% lower in January 2017 compared to January 2016, as VAT incomes were 20% lower, according to sources close to the Finance Ministry. VAT incomes represent a quarter of general consolidated budget incomes in January 2017 against January 2015, as VAT incomes were 20% lower, Ziarul Financial writes. The government provided in the budget law, a budget income increase of 14% in 2017 ...

Reuters: Bitcoin hits record high above $1,200 on talk of ETF approval

Monday, February 27, 2017

Digital currency bitcoin jumped to a record high above $1,200 on Friday, as investors speculated the first bitcoin exchange-traded fund (ETF) to be issued in the United States is set to receive regulatory approval, reuters.com reads. Traditional financial players have largely shunned the web-based "crytpocurrency", viewing it as too volatile, complicated and risky, and doubting its inherent ...

ARB: digital technologies will contribute to taxation of grey and black economy

Monday, February 27, 2017

Romania's banking system fully understands the part of digital technologies, and adopting them will contribute to taxation of grey and black economy, Chairman of the Romanian Banks Association (ARB), Sergiu Oprescu, told a specialist ...

Population deposits in lei decreased by 0.2 pct in January 2017

Monday, February 27, 2017

Population households' deposits in lei decreased by 0.2 pct to 103.46 billion lei in January 2017, compared to the previous month, but registered an increase of 11.2 pct compared to January 31, 2016, reads a press release of the National Bank of Romania (BNR) sent on ...

At end-January 2017, non-government loans decreased by 0.9 percent from December 2016

Monday, February 27, 2017

At end-January 2017, non-government loans granted by credit institutions decreased by 0.9 percent (down 0.8 percent in real terms) from December 2016, to RON 218,007.5 million, according to a press statement released by the National Bank of Romania (BNR) on ...

Currency in circulation in Romania increased by 14.9 percent in January 2017

Monday, February 27, 2017

 Currency in circulation in Romania increased by 14.9 percent in January 2017 y-o-y, to more than 54.32 billion lei, while current accounts and demand deposits advanced 21.8 percent, to 123.41 billion lei, according to data posted by the National Bank of Romania on its website on Thursday. On a monthly basis, currency in circulation was down 0.8 percent, while overnight deposits declined 1.5 percent. Thus, narrow money ...

BVB: Romanian capital market to exceed this year the level of January 2008

Monday, February 27, 2017

Chances are high for the main index of the Romanian capital market to exceed this year the level of January 2008, but one should stay down to earth and not get carried away, president of the Bucharest Stock Exchange (BVB) Lucian Anghel told ...

BVB's Anghel: BET index has increased on improved macroeconomics, 2016 corporate financials

Monday, February 27, 2017

The main index of the Bucharest Stock Exchange (BVB), the BET, has lately increased on improved macroeconomics, dividends and corporate financials, BVB Chairman Lucian Anghel told Agerpres on Wednesday. "We are talking about an increase in BET of over 10 percent since the beginning of the year. This can arguably be the best year start in many years. I believe there are several reasons for that. Firstly, the prospects for Romania's macroeconomics late ...

BT to buy back 10 million of its 25 million TLV shares

Monday, February 27, 2017

Banca Transilvania (BT) will buy back 10 million of its 25 million TLV shares and pay 3.5 lei per share, at most, according to a report submitted to the Bucharest Stock Exchange (BVB). "Banca Transilvania informs its investors that, through its decisions of February 21, 2017, the Board of Directors of Banca Transilvania S.A. has approved the following: the buyback of BT (TLV) shares, in accordance with the law and within the legal boundaries of the ...

Tax changes affecting the IT-business

Monday, February 27, 2017

In Romania, certain employees belonging to the IT sector, such as programmers, have been benefitting from certain tax incentives since 2004, lexology.com informs în an article. At the beginning of 2017, the Ministry of Finance has issued the ordinance 2903/2016 which redefines the income tax exemption for programmers. This new ordinance, which is effective since February 1st 2017, replaces the former ordinance 835/2015. It includes substantial ...

The main index of BVB has lately increased on improved macroeconomics, dividends and corporate financials

Monday, February 27, 2017

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The main index of the Bucharest Stock Exchange (BVB), the BET, has lately increased on improved macroeconomics, dividends and corporate financials, BVB Chairman Lucian Anghel told AGERPRES on Wednesday. "We are talking about an increase in BET of over 10 percent since the beginning of the year. This can arguably be the best year start in many years. I believe there are several reasons for that. Firstly, the prospects for Romania's macroeconomics late this ...

Less than 10 pct of the 140,000 IT Romanian companies have professional responsibility insurance, says CertAsig

Monday, February 27, 2017

The key micro-trend in corporate specialized insurance will be, in 2017, the professional indemnity insurance for developers and IT consultants, according to an analysis performed by an insurance company sent on Tuesday. In Romania there are ...

Life insurer NN Romania's gross underwritten premiums rise 5.2% in 2016

Monday, February 27, 2017

Romanian life insurer NN Asigurari de Viata said on Tuesday its gross underwritten premiums increased by 5.2% last year, reaching 661.7 million lei ($155 million/146 million euro). Health insurance policies, the latest product launched by NN on the Romanian market in April 2016, generated over 21% of total sales, the company said in a press release. "2016 was a great year for our business in the context of Romania's record ...

EC asks Croatia, Romania, Slovenia to fully apply new EU rules on audit

Monday, February 20, 2017

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The European Commission said on Wednesday it has requested Croatia, Romania and Slovenia to fully implement the new EU rules on audit, seenews.com reads. The countries have failed to swiftly enact the new legislation, after initially missing the original deadline to include the rules into national law by June 17, the Commission said in its February monthly package of infringement decisions. The EU executive body issued a warning ...

Romania's Fondul Proprietatea swings to profit in 2016

Monday, February 20, 2017

Romanian property restitution fund Fondul Proprietatea [BSE:FP] said on Wednesday it swung to a net profit of 447 million lei ($104.5 million/99.1 million euro) last year, from a 565.1 million lei net loss in 2015., seenews.com reports "The main contribution to the profit recorded in 2016 was the net gain on disposal of equity investments available for sale, which was partially offset by the net loss from equity investments at fair value through profit ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 7 February 2017

Monday, February 20, 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; Liviu Voinea, Board member and Deputy Governor of the National Bank of Romania; Marin Dinu, Board member; Daniel D?ianu, Board member; Gheorghe Gherghina, Board member; Ágnes Nagy, Board member; and ...

Euroins Romania's Jan premium income rises

Monday, February 20, 2017

The premium income of Euroins Romania grew 51.2% year-on-year in January, reaching 19.9 million euro ($21.24 million), parent company Eurohold Bulgaria [BUL:4EH] said on Thursday quoted by seenews.com. Premium income from third-party liability insurance for motor vehicles climbed by an annual 51.4% to 18.9 million euro in January, Eurohold Bulgaria said in a bourse filing. Euroins Romania is a subsidiary of Euroins Insurance ...

Romania's Banca Transilvania 2016 net profit halves

Monday, February 20, 2017

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Romania's Banca Transilvania [BSE:TLV] said on Tuesday it booked a net profit of 1.23 billion lei ($290 million/273 million euro) in 2016, as compared to a record-high 2.41 billion lei in 2015 following its merger with Volksbank, seenews.com informs. “In 2016, we achieved good results in terms of organic growth and profitability, one year after the merger with and integration of Volksbank Romania,” Banca Transilvania CEO Omer Tetik was ...

SIF Moldova recorded in 2016 a net profit of 123.3 million lei

Monday, February 20, 2017

SIF Moldova recorded in 2016 a net profit of 123.3 million lei (rd EUR 27 ml), up by 22.9 pct compared with the previous year's result, according to the company's report, submitted to the Bucharest Stock ...

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