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Financial & Banking
BRD provides 24.32 ml euro package for green residential project in Timisoara
Monday, February 6, 2023
BRD - Groupe Societe Generale granted Belgian real estate developer Speedwell a financing package of 24.32 million euros for the development of two green residential buildings in western Timisoara city, as part of its commitment to support sustainable projects in Romania, the bank announced on Thursday."The loans were structured by BRD in accordance with the LMA Green Loan Principles and with the provisions of the substantial contribution criteria of the EU ...
Alpha Bank extends a long-term financing of nearly EUR 70 M to eMAG
Monday, February 6, 2023
Alpha Bank has granted nearly EUR 70 million financing to eMAG, in support of the construction of the state-of-the art, up to 120,000 sqm capacity eMAG Logistics Center near Budapest, Hungary, representing a total investment of more than EUR 100 million. In the first phase of the project, covering the bridge financing, EUR 30 million were disbursed in December 2022. This development marks the first large-scale ...
ING Hubs Romania offers its employees the option to work 4 days a week
Monday, February 6, 2023
ING Hubs Romania, ING Group’s global technology hub, offers its employees the 4-day working week system which they can opt for beginning January 2023. This decision comes after the positive results of the pilot program that run for over 6 months. The adoption of the new working system within the company will be voluntary and gradual over the next few months, based on sign-ups. The new way of working involves a shift ...
Total value of private pension funds' assets - 92.5 billion RON at end-2021
Monday, February 6, 2023
The total value of the assets of the two pillars of private pensions, mandatory (Pillar II), and optional (Pillar III), was 92.478 billion RON, at the end of 2021, registering an increase of approximately 19% compared to the previous year both for the total and for Pillar II, according to the data of the National Institute of Statistics (INS).Assets within Pillar II represent 96.3% of total assets.At the end of 2021, the number of participants in ...
BCR Leasing launches LEA, an intelligent virtual assistant that provides financing information and learns from customer interactions
Monday, February 6, 2023
BCR Leasing launches LEA, an AI virtual assistant that interacts anytime and from anywhere with the company’s customers. In the first phase of the project, LEA, the conversational virtual assistant developed on DRUID’s technology platform, will be implemented on the BCR Leasing website and will serve as a digital entry point for both existing and potential ...
tbi bank and easySales launch strategic partnership to offer merchants proven solutions to increase sales
Monday, February 6, 2023
tbi bank and easySales platform are jointly launching a personalised benefits package, including Buy Now Pay Later, for eCommerce businesses, in a tough economic climate. This benefits package has been designed to better help consumers, as more and more people are postponing purchases and opting out of certain transactions. “When talking about shopping, retailers and customers have the same goal: more options and a ...
Turkish fintech Token Financial Technologies enters Romanian market through its Odero brand
Monday, February 6, 2023
Token Financial Technologies (TOKEN) – Turkiye’s leading provider of digital payment solutions – announced today its venture into the Romanian market through the Odero, a brand with a range of payment solutions catered to suit businesses of all shapes and sizes, both online and offline. An initial investment of EUR 5 million, sourced entirely from the company’s resources, is set to increase to EUR 7 million by the end of ...
Minutes of the monetary policy meeting of the National Bank of Romania Board on 10 January 2023
Monday, January 30, 2023
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; Leonardo Badea, Board member and Deputy Governor of the National Bank of Romania; Eugen Nicol?escu, Board member and Deputy Governor of the National Bank of Romania; Csaba Bálint, Board ...
BNR: Monetary indicators - December 2022
Monday, January 30, 2023
At end-December 2022, broad money (M3) amounted to RON 603,118.5 million, up 3.2 percent (2.8 percent in real terms ) month on month, ...
ECB boosts cooperation with the six EU Member States not part of European banking supervision
Monday, January 30, 2023
ECB signs Memorandum of Understanding with national competent authorities of six EU Member States not part of European banking supervision Countries subject to Memorandum are Czech Republic, Denmark, Hungary, Poland, Romania and Sweden Memorandum boosts supervisory cooperation through shared information, and fosters common supervisory ...
EBRD delivers highest level of investment for Romania since 2009
Monday, January 30, 2023
EBRD invests €709 million in Romania in 2022, continuing positive year-on-year trend Green economy investments make up 50 per cent of EBRD total & over 61 per cent in Romania Cumulative EBRD investments in Romania cross the €10 billion mark in 2022, with a standing portfolio of over €2.5 ...
Leonardo Badea (BNR): Inflation in Romania in the European context - milestones of the last 20 years
Monday, January 30, 2023
An analysis of the evolution of inflation in Romania over the last 20 years highlights numerous medium-term cycles, influenced by local and international conjunctures often very different specific to the respective moments. We can say that there is a point that separates the evolution trends at the local level in relation to the European ones, this being around the year of Romania’s accession to the European Union. The graph below shows this evolution for Romania ...
The Cashback Law increases the number of POS in Romania
Monday, January 30, 2023
The amendments to the Cashback Law, regarding the introduction of electronic terminals from January 1, 2023 for merchants with annual cash receipts of over 10,000 euros (50,000 lei), led to a massive need for digital transformation for small and medium-sized companies, at the beginning of 2023. Global Payments, the world’s largest provider of payment services and technology, recorded, in January of this year alone, ...
Banca Transilvania launches virtual card with animated design in BT Pay app, a first in Europe
Monday, January 23, 2023
Banca Transilvania, in collaboration with Visa, launches, for the first time in Europe, the virtual card with animated design, a debit card, in RON, for individuals, which can be used from the BT Pay application, exclusively for online payments, the bank announced on Tuesday."We are pleased to mark a European first with the animated design of our new product and to add the virtual card to the options we offer our customers. Having such a card allows one to be in ...
NN Romania is Top Employer for the fifth consecutive year
Monday, January 23, 2023
NN Romania, leader in the life insurance and private pensions markets, was designated Top Employer 2023, for the fifth consecutive year. The recognition is awarded by Top Employers Institute, the most prestigious global authority in certifying excellence and performance in HR practices. The Top Employer 2023 certification reconfirms NN’s position as a top employer, supported by the company’s care and ...
Visa survey: Wider e-payment acceptance to help boost financial inclusion
Monday, January 23, 2023
Electronic payment acceptance by a higher number of merchants starting in 2023, due to the new provisions of the Cashback Law, responds to increased customer demand for digital services and will contribute to boosting financial inclusion by the development of e-payment infrastructure in rural areas and in small towns, as well as to combating underground economy, notes the article "The new amendments to the Cashback Law support SME digitization" published on Monday on ...
EBRD and Bucharest Stock Exchange launch Investor Relations and Liquidity Support Programme în Romania
Monday, January 23, 2023
The European Bank for Reconstruction and Development (EBRD) and the Bucharest Stock Exchange (BVB) are launching a new Investor Relations and Liquidity Support Programme in Romania, to improve capital market visibility and stock exchange liquidity of up to 3 selected issuers. The Programme will be run in close cooperation with the selected companies and a team of professional Investor Relations (IR) consultants with local and international expertise from ...
Softbinator Technologies names new group’s Chief Financial Officer
Monday, January 23, 2023
Softbinator Technologies, a Romanian company that provides complete software product development services including product management, product design, software development, blockchain development, and product marketing, announces the consolidation of the management team, by recruiting and appointing Vlad Deliu as Chief Financial Officer at the group level. “Since the listing on the Bucharest ...
Inflation slows down but still a lot of risks for markets ahead
Monday, January 23, 2023
Macro commentary by eToro analyst for Romania, Bogdan Maioreanu For investors, the latest inflation data gave more confidence to move to a more risky approach. As a result, global markets recovered some of the losses from last year. But 2023 still carries some risks from the previous year economic and geopolitical ...
NBR Board decisions on monetary policy
Monday, January 16, 2023
In its meeting of 10 January 2023, the Board of the National Bank of Romania decided: to increase the monetary policy rate to 7.00 percent per annum from 6.75 percent per annum as of 11 January 2023; to raise the lending (Lombard) facility rate to 8.00 percent per annum from 7.75 percent per annum and the ...