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Financial & Banking

ANAF: 088 form will disappear starting 1 February 2017

Monday, January 16, 2017

The 088 form, regarding the companies' registration for VAT purposes will disappear starting 1 February 2017, a release of the National Agency for Fiscal Administration (ANAF) sent on Friday informs. "According to the governance programme, one of the Government's objectives is to reduce taxpayers' excessive administrative tasks, therefore the ANAF analyzed the ...

NBR Board decisions on monetary policy

Monday, January 9, 2017

In its meeting of 6 January 2017, the Board of the National Bank of Romania (NBR) decided the following: to keep unchanged the monetary policy rate at 1.75 percent per annum; to pursue adequate liquidity management in the banking system; and to maintain the existing levels of minimum reserve requirement ratios on both leu- and foreign ...

Ionut Dumitru, Raiffeisen Bank: the interest for loans will rise in 2017 but not for the deposits

Monday, January 9, 2017

Interest for loans will rise in the second half of the 2017 together with the increase of ROBOR and the newly offered loans will get slower increase, stated Ionut Dumitru head economist with Raiffeisen Bank. ‘We expect the National Bank of Romania keep the interest rate for the monetary policy unchanged at 1.75% until the last meeting of monetary policy of 2017, namely the one in November 2017. We think that the interest rates for the monetary ...

Debts on loans of over 20,000 lei rose by over 2 pct in November 2016

Monday, January 9, 2017

Debts on loans of over 20,000 lei granted by banks to customers rose by over 2 pct in November 2016 as compared to October, up to 25.726 billion equivalent lei, according to data of the Credit Risk Center within the National Bank, released on ...

Non-government loans went up 0.9 percent in November 2016

Monday, January 9, 2017

The non-government loans granted by credit institutions went up 0.9 percent (0.8 percent in nominal terms) in November 2016 compared to October 2016, to 220.6 billion lei, on account of loans in domestic currency in general and household loans in particular, according to National Bank of Romania (BNR) ...

Deposits increased 1.6 percent month on month in November 2016

Monday, January 9, 2017

Household and corporate deposits increased 1.6 percent month on month to RON 263,149.0 million in November 2016, National Bank of Romania (BNR) data released on Friday ...

Launch of the Fidelis Centenar T-bonds and the MedLife private IPO are the most important events în 2016

Monday, January 9, 2017

The earmarking of the Romanian capital market on the emerging market status's trajectory, the launch of the Fidelis Centenar T-bonds and the MedLife private IPO are the most important events that have taken place on the stock exchange's market in ...

ASF: last barriers in the legislation on capital market will disappear in 2017

Monday, January 9, 2017

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 The last barriers existent in the legislation on capital market will disappear in 2017, and the situation on the Forex market will be regulated to have fewer people losing out, the Deputy Chair of the Financial Supervisory Authority (ASF), Mircea Ursache ...

Overdue loans in lei of the population and of companies, recorded in November 2016, amounts to 5.94 billion lei

Monday, January 9, 2017

 The overall value of overdue loans in Romanian lei (RON) of the population and of companies, recorded in November 2016, amounts to 5.94 billion lei, on the rise by 1.36 pct compared to the sum reported in October, while overdue loans in foreign currencies rose to 1.57 pct, to 7.77 billion lei (equivalent), according to a report of the ...

EFSE lends 1 mln euro to Romania's Patria Credit to back small agribusinesses

Monday, January 9, 2017

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The European Fund for Southeast Europe (EFSE) said on Tuesday, December 27, it has extended a 1 million euro ($1.04 million) loan to Romanian non-bank microfinance institution Patria Credit, seenews.com reports. The credit will be used to finance micro and small agricultural businesses and farmers in Romania, EFSE said in a statement. “We are very committed to the long-term and successful partnership with EFSE and to ...

State budget revenues were overestimated at the drawing up of the programme on 2015

Monday, January 9, 2017

The state budget revenues were overestimated at the drawing up of the programme on 2015, as they were only 96.6pct accomplished, the most important gaps being noted at the interest incomes, with only 19.4pct of the programme's achievement, and 53pct at European funds, according to the Audit Report on the State Budget annual general execution account on 2015, carried by the Court of Accounts. "Per all, if we refer to the state budget's total revenues, it is ...

Payments rejected by banks decreased slightly in November

Monday, January 9, 2017

 Payments with debit instruments rejected by banks decreased slightly in November compared to October, by 2.7pct - RON 314.4 million, from RON 323.13 million, according to the data published by the Center of Payment Incidents from the National Bank of Romania ...

Voinea (BNR): Good macroeconomic situation, significant financial stability risks; prudence is essential

Monday, December 19, 2016

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Romania is in a stable macroeconomic situation but financial stability risks are significant. So a prudent behaviour of the mix of macroeconomic policies is essential, according to the Report on financial stability presented on Tuesday by deputy governor of the National Bank of Romania, Liviu Voinea. “Romania has high economic growth, a sustainable current account deficit and dropping foreign debt. The number of employees is rising, ...

BNR's Isarescu: the transfer, one century ago, of Romania's treasure to Russia was operated based on the mutual trust between the two states

Monday, December 19, 2016

Governor of the National Bank of Romania (BNR) Mugur Isarescu said on Wednesday afternoon in Iasi that the transfer, one century ago, of Romania's treasure to Russia was operated based on the mutual trust between the two states, and is certified by authentic documents that have been carefully preserved by all the governors of the central bank of ...

August 1, 2017 - the coming into force of Law No. 151/2015 on personal insolvency proceedings

Monday, December 19, 2016

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The government decided on Thursday to move back to August 1, 2017 the coming into force of Law No. 151/2015 on personal insolvency proceedings, informs a government release ."The postponement by yet another seven months of the coming into force of this law was decided as the enforcement of the new regulations requires a complex system: the setting up of 42 local ...

FGA may approve over 30,000 payment requests for Astra creditors by end of year

Monday, December 19, 2016

FGA (Insurers’ Guarantee Fund) approved payment requests of 126 million lei until the end of November, for creditors of Astra Insurance. It is expected that the number of creditors will exceed 30,000 until the end of the ongoing year, FGA general manager Cristian Rosu declared on Thursday. On the average, FGA Approved 4,000 files monthly. By November 29, 2016, FGA paid 116 million lei to creditors of Astra Insurance ...

Visa survey: Contactless payments' share doubles in less than one year

Monday, December 19, 2016

The share of contactless payments in Romania increased from 10 percent of the total number of Visa card payments in early 2016 to 20 percent in Q3, and the network of POS accepting such payments expanded to nearly 50 percent of the total number of terminals, shows a survey by Visa payments network operator. "The rapid adoption of contactless payments is ...

Reuters: Romania central bank says global uncertainties threaten emerging economies

Monday, December 19, 2016

The risk of a sudden shift in investors' perception of emerging economies has risen and could put pressure on Romania's economy quickly, the central bank warned on Tuesday, stressing the need for prudent fiscal and monetary policies, Reuters correspondent reports. Its comments follow victory in a parliamentary election on Sunday for the leftist Social Democrats, whose promises to raise wages and pensions have raised fears ...

BNR : 10 million Romanians have bank deposits

Monday, December 19, 2016

Approximately 10 million Romanians have bank deposits, but 40 percent of them own on average 21 lei whereas 136 people have savings in Romanian banks worth 25.8 million lei, on average, as states the Report regarding financial stability presented on Tuesday by Vice Governor of the National Bank of Romania (BNR) Liviu Voinea. "The share of financial assets in the population net wealth has increased due to deposit growth. (...) Bank saving is characterized by ...

Nobel economics prize winner: ‘The euro was a mistake’

Monday, December 19, 2016

The European Union should embark on a process of decentralisation and return certain areas of decision making to the member states if it wants to survive and thrive, according to Nobel Memorial Prize in Economic Sciences winner Oliver Hart, ...

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