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Financial & Banking

Mandatory private pension funds had stockpiled assets worth about 32.173 billion lei in January

Monday, July 10, 2017


The mandatory private pension funds had stockpiled assets worth about 32.173 billion lei, on January 31, 2017, rising by almost 30% as compared to the level of January 31, 2016, according to data from the Financial Supervisory Authority ...

Romania's Patria Bank increases share capital by 156 mln lei (34 mln euro)

Monday, July 10, 2017

Romania's Patria Bank, formerly known as Nextebank, said on Thursday it has increased its share capital by 156 million lei ($38.5 million/32 million euro), seenews.com reports. Following the increase, Patria Bank's share capital totals 376.2 million lei, divided into 3.76 billion shares with a nominal value of 0.10 lei each, the bank said in a statement filed with the Bucharest Stock Exchange (BVB). Patria Bank is owned by EEAF ...

Greece’s National Bank to sell Romania, Serbia, Cyprus operations

Monday, July 10, 2017

Greece’s second-largest lender National Bank (NBG) will sell more assets in the Balkans, including its Romanian operations, to complete a restructuring plan agreed with European authorities, its chief executive said on Tuesday, Reuters reports quoted by ekathimerini.com. Like other big Greek banks, NBG has been slimming down by divesting assets and foreign subsidiaries to focus on banking at home, with proceeds boosting capital ratios and ...

BCR leads Romania's banking market with 16.28% share in 2016

Monday, July 10, 2017

 Banca Comerciala Romana (BCR) remained Romania's largest bank by assets at the end of last year with a market share of 16.28%, up from 15.8% at end-2015, the central bank said quoted by seenews.com. With total assets worth 64.06 billion lei ($15.8 billion/13.9 billion euro) at the end of December, BCR, owned by Austria’s Erste, led the ranking, BNR said in its annual report published earlier this week. Banca ...

BVB capitalization at over EUR 37 bln in H1

Monday, July 10, 2017

The Bucharest Stock Exchange (BVB) registered a two-digit increase at the end of the first semester of this year, close to 11 percent, in conditions of dividends offer and political uncertainties, according to a statement of the market operator, business-review.eu reads. . „BET, the main market index, that measures the evolution of the most liquid companies, closed on June with 7,855 points, corresponding to a ...

Opening speech at the 'The City of London as a financial centre after UK exit from EU' conference by Mugur Isarescu, NBR Governor

Monday, July 3, 2017

Bucharest, 30 June 2017 Lord Mayor, Mr. Browne, Your Excellency Ambassador Brummell, Dear guests, We are delighted to welcome you, Lord Mayor, at the National Bank of Romania (NBR). We extend a warm welcome to Mr. Jeremy Browne, Special Representative for the City of London to the European Union, as well as to our guests from this leading international financial ...

National Bank of Greece sells Garanta insurer in Romania to Exin

Monday, July 3, 2017

Netherlands-based Exin Financial Services has agreed to acquire 75 percent stake in Greek insurer Ethniki Hellenic General Insurance (Ethniki Insurance), the majority shareholder of the insurer Garanta in Romania, from the National Bank of Greece (NBG) for EUR 718 million,romaniajournal.ro informs. The price also includes the transfer of Ethniki Insurance Cyprus, valued at EUR 13.4 million, as well as Ethniki’s activities in Romania (Garanta), ...

BNR: Non-performing loans (NPL) has declined in April

Monday, July 3, 2017

The rate of non-performing loans (NPL) has declined in April compared to the previous months by 0.1 percentage points to 9.26 percent, the data published by the National Bank of Romania (BNR) reveal. Compared to April 2016, the level declined by 3.85 ...

Isarescu: BNR did not drop the interest under 1.75 to encourage savings and creation of domestic resources

Monday, July 3, 2017

The National Bank of Romania (BNR) did not drop the reference interest under 1.75% to encourage savings and the creation of financial resources on a domestic plan,stated on Wednesday the governor of the BNR Mugur Isarescu suggesting that the interest will not drop under this level in the future, in the debate of the work of the former governor of the Bank of England Mervyn King ‘ The end of alchemy: money, banks and the future of world ...

Romanian Parliament votes to appoint Leonardo Badea as ASF head

Monday, July 3, 2017

The plenum of the Romanian Parliament voted on Wednesday to appoint Leonardo Badea as head of Financial Surveillance Authority (ASF) and Ovidiu Razvan Wlassopol as first deputy of the financial body, business-review.eu informs. Leonardo Badea received 321 votes in favor and 38 against, while Ovidiu Wlassopol received 338 votes in favor and 21 against. The two received positive ...

Large companies in Romania rally against new governing program

Monday, July 3, 2017

The largest Romanian business associations have convened for Friday a press conference to protest against the fiscal measures announced by the Social Democratic Party (PSD) through the new governing program, romania-insider.com reports. These include the Coalition for Romania’s Development (CDR), Romanian Business Leaders, the American Chamber of Commerce in Romania, the French Chamber of Commerce and Industry in Romania, the Romanian-German ...

Romania to issue 5.1 bln lei (1.1 bln euro) in domestic debt in July

Monday, July 3, 2017


Romania's finance ministry said on Friday it plans to auction 5.1 billion lei ($1.3 billion/1.1 billion euro) in government securities and to sell an additional 510 million lei in non-competitive offers in July, seenews.com informs. The finance ministry plans seven auctions of government securities with maturity of two to ten years, and two auction for one-year and six-month T-bills worth 1.7 billion lei. In June, the finance ministry sold 5.235 ...

Intesa Sanpaolo acquires the branch network of Veneto Banca in Romania

Monday, July 3, 2017

Intesa Sanpaolo has announced the acquisition of the branch network of Veneto Banca in Romania, as part of an international deal, business-review.eu informs. “As head of Intesa Sanpaolo’s International Subsidiary Banks Division ...

Romania's EximBank backs Prolyte Group with loan for new facility

Monday, July 3, 2017

Romania's EximBank has reached an agreement to lend 15.7 million lei ($3.8 million/3.4 million euro) to aluminium trussing and staging systems maker Prolyte Group for a new production facility in Piatra-Olt, in the southwest of the country. Seenews.com reports. The new project is doubling up the production capacity of the company in Piatra Olt, EximBank said in a press release on Monday. "We are looking forward to other ...

EBRD launches energy efficiency framework for Romanian homes

Monday, July 3, 2017

Supporting Romanian households to save energy and money, the EBRD is launching the €100 million Green Economy Financing Facility (GEFF) for the country, finchannel.com reads. The framework is designed to help Romanian households invest in energy efficiency, renewable energy and water-saving solutions. It is the first time that the EBRD is financing energy efficiency in Romania’s residential sector. Loans will be provided via local partner ...

Romania's Jan-May cons budget deficit widens to 0.27%/GDP

Monday, July 3, 2017


Romania's consolidated budget deficit widened to 0.27% of the projected 2017 gross domestic product (GDP) in the first five months of 2017, up from 0.10% of GDP a year earlier, the finance ministry said on Tuesday, seenews.com informs. Romania's consolidated budget showed a surplus of 2.2 billion lei ($537 million/481 million euro) in the first five months of the year, the ministry said in a report published on its ...

Business Lease expects EUR 8 mln turnover in 2017

Monday, July 3, 2017

Business Lease, the operational leasing firm, registered a turnover of EUR 4 million in the first quarter of the year, a growth by approximately 20 percent moren than in 2016 and estimates to reach a turnover of EUR 8 million by the end of this year , business-review.eu informs. The growth is due to the increase in the number of clients and the opening of regional center at Cluj, following an investment of EUR ...

Active insurance against natural disasters policies (PAD) dropped by 2.29 percent

Monday, July 3, 2017

The number of active insurance against natural disasters policies (PAD) dropped by 2.29 percent, reaching on 31 May 2017, the number of 1,667,445, compared to 1,706,628 active PAD policies on 31 May 2016, according to the Insurance Pool against Natural Disasters (PAID) statistics, the company which issues this type of policies. At the end of 2017, a number of 1,703,047 PAD policies were active, while on 31 December 2015 a number of 1,590,954 policies were ...

Tackling money laundering: Crucial to tax evasion and terrorist financing prevention

Monday, July 3, 2017

European Commissioner for Justice V?ra Jourová has prioritised stepping up the fight against money laundering. In this opinion piece, she explains what steps have been taken and what more is to come, euractiv.com reads. Not only is it necessary to ensure that everyone pays their fair share because money laundering directly facilitates tax evasion, it is also an important step in the fight against criminal and terrorist ...

CFA Romania estimates a depreciation of the national currency, RON, in the following 12 months

Monday, June 26, 2017


Most of the Chartered Financial Analyst (CFA) Romania members estimate a depreciation of the national currency, RON, in the following 12 months, and an increase of the interest rate of the national currency loans, a survey by this association released and sent to AGERPRES on Sunday ...

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