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Financial & Banking

Eurostat: In 2015, Romania's inflows from personal transfers stood at 2.176 bn euro

Monday, December 12, 2016


Money flows sent in 2015 by EU residents to a non-EU country, referred to as personal transfers, amounted to 31.3 billion euro, compared with 29.9 bn euro in 2014, the European Statistical Office announced on Friday. As inflows to the EU totalled slightly less than 11.0 bn euro in 2015, this resulted in a negative balance (-20.4 bn euro) for the EU with the rest of the world, ...

Individuals registered at the Credit Bureau with over 30-day outstanding debts dropped 83,439 în October

Monday, December 12, 2016

The number of individuals registered at the Credit Bureau with over 30-day outstanding debts to banks and non-banking financial institutions (NBFIs) dropped 83,439, to 611,613 in October, as against September 2016, reads a release by the National Bank of Romania ...

Romania to make tax break for reinvested profit permanent as of January 1

Monday, December 12, 2016

The tax exemption for reinvested profit will be available also after January 1 according to the Government ordinance no.84, which brings several changes to the Fiscal Code and Fiscal Procedure Code, that was published in the Official Gazette, business-review.eu informs. „The reinvested profit in technological equipments, computers and peripheric equipments, machinery and households, controlling and billing machinery, informatics programs as well ...

SMEs could access online credits of up to 200,000 lei from the OTP Bank Romania

Monday, December 12, 2016


The Small- and Medium-Sized Enterprises (SMEs) in Romania, as a first for the local market, could access online credits of up to 200,000 lei (around 44,000 euros) from the OTP Bank Romania, through an overdraft with no real estate collateral, guaranteed by ...

Garanti Bank keeps 2016 Romania GDP growth fcast at 3.7%, expects BNR rate hike in 2018

Monday, December 12, 2016

Garanti Bank Romania, part of Turkish financial group Garanti, said on last Tuesday it expects Romania's economy to grow by 3.7% in 2016, confirming its previous forecast issued in August, seenews.com reports. Garanti also said that its expects Romania's central bank, BNR, to increase its key rate in 2018. The main drivers of the Romanian economy in 2016 will remain IT&C and business support activities, the bank said in its latest quarterly ...

Tax exemption on reinvested profit comes into force on 1 January 2017

Monday, December 12, 2016


Tax exemption on reinvested profit on unlimited period comes into force on 1 January 2017, according to Government Ordinance (OG) No. 84, that is amending the Tax Code and the Tax Procedure Code, published in the Official Gazette. "The profit reinvested in technological outfitting, computers and peripheral tools, cash registers, control and billing machines, computer programmes, as well as for the right to use the software produced and/or purchased, based on ...

Risks and Returns: Managing Financial Trade-Offs for Inclusive Growth in Europe and Central Asia

Monday, December 12, 2016

The Risks and Returns: Managing Financial Trade-Offs for Inclusive Growth in Europe and Central Asia report argues that financial development must go beyond improving the access to - and pricing of - credit that can help build a broad-based and balanced financial system of both bank and non-bank markets. Emerging Europe and Central Asia, perhaps now more than ever, faces the urgent need for financial sector reforms. Reforms are needed not only to make ...

Financial Sector Reforms are Crucial for Sustained, Inclusive Growth in Europe and Central Asia

Monday, December 12, 2016

Financial sector development must go beyond improving access to bank credit. Financial systems should develop in a balanced way through both bank and non-bank subsectors, including capital markets, the insurance sector, and other nonbank financial institutions to properly support inclusive growth in Europe and Central Asia, says a new World Bank ...

Report on October released by the central bank's Credit Risk Office

Monday, December 12, 2016

Past due payments on bank loans higher than 20,000 lei dropped 0.89 percent this October from September to the equivalent of 25.265 bln lei, shows data of the central bank's Credit Risk Office released on Monday. In October, overdue payments accounted for ...

BNR: International reserves – November 2016

Monday, December 5, 2016

On November 30st 2016, the National Bank of Romania’s foreign exchange reserves stood at EUR 34,387 million, compared to EUR 34,347 million on October 31st 2016. During the month, the following flows have taken place: EUR 804 million inflows representing inflows into the European Commission’s account, changes in the foreign exchange reserve requirements of the credit institutions, inflows into ...

BVB: Listing of Medlife and other Romanian entrepreneurs on the exchange in next 18 months

Monday, December 5, 2016


The listing of Medlife on the exchange in the next 18 months will also bring other Romanian entrepreneurs and I hope the market will back this transaction, the president of BVB, Lucian Anghel declared on Thursday at a debate on stock market development strategies for the Country Project initiated by the Presidential Administration. He also showed that entrepreneurs were asking brokers and BVB officials about successful ...

Romania’s private debt market could reach EUR 1 bln in five years, says Credit Value Investments

Monday, December 5, 2016

Credit Value Investments, the operator of the private debt market in Central and Eastern Europe, estimates that Romania’s private debt market will reach EUR 1 billion in five years and will make up for the deficit left by the withdrawal of bank loans, business-review.eu reads. In Romania, the term capital market is used to refer to stock market activity, whilst the true capitalisation of a company is the sum of capitalisation of funds from the ...

Romania's leasing industry could attain in 2017 its medium-term growth potential of 15 pct

Monday, December 5, 2016

 Romania's leasing industry could attain in 2017 its medium-term growth potential of 15 pct, while the value of financed assets could exceed 2.3 billion euro, president of the Financial Companies Association (ALB) Bogdan Speteanu said on Wednesday. "Speaking of expectations for the leasing industry in 2017, I would say that we will attain our growth potential. In recent years we came to the conclusion that a figure around 15 percent represents a ...

Visa to launch a program with offers for premium card owners

Monday, December 5, 2016

Visa will launch a program of premium offers for Romanians who own a Gold Visa Platinum or Infinite card, by which they can benefit from discunts and facilities from the local and foreign merchandisers, business-review.eu informs. The program has several pillars that covers a range of premium goods and services from the sectors preferred by Romanians for car payments, respectively tourism, entertainment, restaurants and ...

Further bank consolidation likely in Bulgaria, Romania, Slovenia – Fitch

Monday, December 5, 2016

Fitch Ratings said on Thursday it expects profitability challenges caused by regulatory and government actions to lead to further consolidation in the banking sector in the region of central and eastern Europe (CEE), particularly in Bulgaria, Romania and Slovenia, seenews.com informs. "These pressures mean that further consolidation is likely, particularly in fragmented markets, such as Bulgaria, Poland, Romania and Slovenia. In Bulgaria and Slovenia, ...

Professor Mitroi: the adoption of euros is the best country project Romania

Monday, December 5, 2016

Switching over to the single European currency, the euro, is the best country project Romania can have, given the inability of the country's politician to make enough peace to last one political cycle, professor Adrian Mitroi of the Bucharest School of Economics (ASE) Adrian Mitroi told Agerpres in a recent interview. He says the adoption of euros is an opportunity, and no counterarguments like "we are not ready, we do not have the wages, there is no convergence" ...

Local public debt: annual limit 1.2 billion lei for each of the following years 2017, 2018 and 2019

Monday, December 5, 2016


The annual limit will be 1.2 billion lei for each of the following years 2017, 2018 and 2019 in respect to the refundable funding, such as loans form commercial banks or other credit institutions, securities issuing, financial leasing, which can be contracted by administrative - territorial units/subdivisions, representing local public debt, the Government decided on Tuesday through a resolution. According to a release of the Executive, the same annual limit ...

BNR and ASF will supervise the enforcement of the EU Regulation on OTC derivatives

Monday, December 5, 2016

The government adopted on Tuesday a bill according to which the National Bank of Romania (BNR) and the Financial Supervisory Authority (ASF) will supervise the enforcement of the EU Regulation on OTC derivatives, central counterparties and trade ...


Monday, December 5, 2016

Romania aims to sell 3.6 billion lei ($848.46 million) worth of leu currency bills and bonds in December, and an additional 270 million lei at non-competitive rounds of auctions, the finance ministry said on Monday quoted by Reuters. Debt managers sold an overall 1.95 billion lei worth of domestic leu debt in November. They sold less than planned and even scrapped two tenders altogether as the US election's unexpected win and expectations for a rise in ...

Romania's Vrancart to replace Albalact in BVB stock indices

Monday, December 5, 2016

The Bucharest Stock Exchange (BVB) will add cardboard maker Vrancart [BSE:VNC] to its BET-XT, BET-XT-TR and BET-BK indices, after removing dairy producer Albalact [BSE:ALBZ], the bourse said quoted by seenews.com. Albalact will also be excluded from the BET Plus index. "The Bucharest Stock Exchange (BVB) informs that on November 25, 2016, the extraordinary meeting of the BVB Index Committee  took place, considering ...

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