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Financial & Banking

City Insurance is financially stable; the claims paid in H1 doubled

Monday, August 7, 2017

Recently emerged from financial recovery procedure, City Insurance officials assure that the company is ...

Garanti Group Romania profit at RON 96 mln in H1

Monday, August 7, 2017

Garanti Group Romania has recorded a RON 96 million consolidated net profit in the first semester of the year, business-review.eu reports. The group’s total asset volume reached RON 10.51 billion. Garanti Bank registered a RON 78.1 million net profit at the end of June and its commercial results played a highly significant role in this regard. The bank’s loan volume reached RON 6.96 billion, in the first ...

Dividends paid for the financial year 2016 was 43 billion lei

Monday, August 7, 2017

The level of dividends paid for the financial year 2016 was 43 billion lei (9.5 billion euro - ed.n), representing an 85 percent distribution percentage of the profits earned in the last year, according to an analysis conducted by Iancu Guda, President of the Romanian Financial and Banking Analysts' Association (AAFBR) and lecturer at the Romanian Banking Institute ...

Banca Transilvania, CEC Bank and BCR signed partnerships with ministry of SMEs

Monday, August 7, 2017

The Ministry for Business Environment, Trade and Entrepreneurship on Monday formally signed partnerships with the banking institutions that will offer the beneficiaries the bridge-loans under the Start-Up Nation Program; the respective partner financial institutions are Banca Transilvania, CEC Bank and Banca Comerciala Romana ...

Insurance market,up by 8 pct in the first quarter of 2017

Monday, July 31, 2017

 The Romanian insurance market recorded in the first quarter of 2017 subscribed gross premiums, cumulated for insurance companies and branches, worth a total of 2.73 billion lei, up by 8 pct as compared to the same period of the previous year, according to the analysis regarding the insurance market evolution in the first quarter of 2017, conducted by the Financial Supervisory Authority ...

Romanian banks’ NPL ratio fell to 9.04 pc in May

Monday, July 31, 2017

The share of non-performing loans (NPLs) in Romania’s banking system has fallen by 0.22 percent, to 9.04 percent in May month-on-month, National Bank of Romania (BNR) data reveal, quoted by romaniajournal.ro. In year-on-year comparison, this decreased by 3.36 percentage points. The number of natural persons registered to the credit bureau with arrears exceeding 30 days to banks and to NFIs increased by 0.65 percent in May ...

Communication director Iosefina Frolu to leave ING

Monday, July 31, 2017

ING Romania announced that starting August 7, Iosefina Frolu, the company’s communication director, will leave the company, business-review.eu informs. Frolu (43) joined ING in 2006 as marketing& communication director of ING Wholesale Banking, the division of corporate clients, where she built the communication team from scratch. In 2010, she became communication director of ING Bank Romania, responsible with media communication, internal ...

PwC analyst: Wages might fall by 22pc

Monday, July 31, 2017

The mandatory social contributions will be in charge of the employees as of January 1, 2018, however employers will still have the obligation to establish, retain and pay them to the social security budgets, the Ministry of Public Finance says in a press release. “The 2017-2020 Governing Programme contains a package of measures aimed at the mandatory social contributions that are to be enforced as of January 1, 2018. Thus, the level of mandatory ...

Outstanding personal and corporate loans in lei reported in June 2017, down 5.27 percent from May 2017

Monday, July 31, 2017

Total outstanding personal and corporate loans in lei reported in June 2017 amounted to 5.769 billion lei, down 5.27 percent from May 2017, while outstanding forex loans dropped by 2.7 percent, to 6.683 billion lei (equivalent), according to a report by the National Bank of Romania ...

EvoMAG enters insurance market and estimates sale of 10,000 insurance policies in a year

Monday, July 31, 2017

The online store evoMAG enters the insurance market and estimates the sale of 10,000 insurance policies in a year. For starters it offers customers insurance policies for vehicles (RCA) and will continue with travel and house insurances, a press release sent on Tuesday shows. The company offers policies from eight insurance firms: Allianz Tiriac Asigurari, Asigurarea Romaneasca - Asirom Vienna Insurance Group, Societatea de Asigurare-Reasigurare City ...

BVB: Romania, 1st among world's Frontier Markets considering the growth of the returns in US dollars

Monday, July 31, 2017

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 Romania ranks 1st among world's Frontier Markets considering the growth of the returns in US dollars, which have exceeded 40 percent year to date, according to a press statement released by the Bucharest Stock Exchange (BVB) on ...

Deposits of non-government resident customers declined 0.2 percent în June

Monday, July 31, 2017

Deposits of non-government resident customers in Romania declined 0.2 percent against the previous month, to 278.916 billion lei, according to data released by the National Bank of Romania (BNR) on ...

Non-government loans granted by credit institutions went up 0.9 percent from May 2017

Monday, July 31, 2017

At end-June 2017, non-government loans granted by credit institutions went up 0.9 percent (0.8 percent in real terms) from May 2017 to RON 226,777.9 million, the National Bank of Romania (BNR) reported in a press statement on ...

Intesa Sanpaolo Bank Romania appoints new president and vice president of the Administration Council

Monday, July 31, 2017

Intesa Sanpaolo Bank Romania appoints Ezio Salvai as newpresident and Giampiero Trevisan as vice president of its Administration Council, business-review.eu informs. Salvai will replace Giovanni Battista Ravasio. Salvai was general director and member of the Administration Council of Intesa Sanpaolo Bank Romania during 2011-2013 and until 2013 he was vice president of Administration Council of the bank. ...

OTP Bank Romania officially takes over Banca Romaneasca

Monday, July 31, 2017

OTP Bank Romania and National Bank of Greece have signed the agreement on the acquisition of 99.28 percent of Banca Romaneasca, business-review.eu informs. The takeover will be completed at the beginning of 2018, according to a  OTP Bank Romania press this Thursday. According to the source, the transaction implies the shares of Banca Romaneasca, owned by the National Bank of Greece, as well as the acquisition of the supplementary portfolio from ...

Finance Ministry to pay the first annual interest for state bonds Fidelis on August 4

Monday, July 31, 2017

  Public Finance Ministry will pay the first annual interest for state bonds FIDELIS, CENTENAR edition, valued at RON 2.15/bond on August 4, according to an information sent to the Bucharest Stock Exchange (BVB) quoted by business-review.eu. According to the document , the Central Deposit will be responsible for the distribution of the amounts representing interests and back-payments of the ...

PM Tudose: It is not yet the right time for the household tax

Monday, July 24, 2017

It is not yet the right time for the household tax, but the government will not give up the idea of implementing this kind of charging system, on Tuesday said Prime Minister Mihai ...

ASF: Stock market was not manipulated following minister Misa statements on dismantling of Pillar II

Monday, July 24, 2017

The stock market was not manipulated after the statements of Minister of Finance Ionut Misa on the dismantling of the Pillar II, an analysis by the Financial Surveillance Authority(ASF) shows, business-review.eu reports. The ASF made an analysis after Finance Minister Ionut Misa said the Pillar II will be dismantled, a statement that was laterdenied by both PM Mihai Tudose and Social Democratic Party (PSD) head ...

Romania has to repay this year 1.26 billion euro to the EU and the WB

Monday, July 24, 2017

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Since the beginning of the year Romania has paid the European Union and the World Bank (WB) 77.1 million euro of the stand-by loan engaged in 2009; the entire amount represents interest rates plus fees, according to data made available by the Ministry of Public Finance (MFP) at the request of ...

Reuters: Hungary's OTP to buy Banca Romaneasca from Greece's NBG

Monday, July 24, 2017

Hungary'sOTP Bank <OTPB.BU> has agreed to buy Romania's Banca Romaneasca from the National Bank of Greece (NBG), two sources with knowledge of the deal told Reuters on Friday, continuing OTP's acquisition drive in central and eastern Europe, Reuters informs quoted by nasdaq.com. "There is a deal, NBG's unit will be sold to OTP," a source in Athens said. OTP executives have said publicly they were in ...

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