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Financial & Banking

Mugur Isarescu, NBR Governor: Speech at Regional Economic Outlook: Europe - IMF meeting

Monday, April 19, 2021

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Let me commend the European Department Director Alfred Kammer and the former mission chief for Romania, Jaewoo Lee, now in a new position – not only for this Regional Economic Outlook, but also for their trusted cooperation, helpful policy advice and open communication.   A few facts about the macroeconomic situation in ...

Bucuresti Stock Exchange: the regulated market of the stock exchange had total tradings of 4.66 billion lei in the Q1

Monday, April 19, 2021

The total value of tradings with all types of financial instruments increased by 30.4% in the first three months of this year against the similar period of last year, and on the Regulated Market of the Stock Exchange Bucuresti (BVB) there were total tradings of 4.66 billion lei. The Stock Exchange announced on Monday that the BET and BET-TR indicators are at historic maximum and increased over the last year by 50% and the capital market  could become ...

Press release on the National Bank of Romania’s position concerning virtual currencies

Monday, April 19, 2021

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The National Bank of Romania takes note of the ongoing increase in general public’s interest in virtual currencies1 (also known as crypto-assets) and draws attention that, in its opinion, ...

Balance of payments and external debt – February 2021

Monday, April 19, 2021

In January - February 2021p, the balance-of-payments current account posted a deficit of EUR 1,627 million, compared with EUR 431 million in the same year-ago period. The breakdown shows that the deficit on trade in goods widened by EUR 485 million, the surplus on services increased by EUR 265 million, the primary income surplus narrowed by EUR 463 million and the secondary income balance recorded a deficit of EUR 358 million, compared with a surplus of EUR ...

Inflation eases slightly to just over 3% in March

Monday, April 19, 2021

Romania's annual inflation rate slightly eased in March to 3.05% from 3.16% in February, the National Statistics Institute (INS) announced.   The higher electricity price (+17% year-on-year) accounted for 0.78 pp of the annual inflation.   The prices of non-food goods (electricity included) rose by 4.3% in February compared to the same ...

Moody’s upgrades by two notches Alpha Bank’s mortgage covered bonds

Monday, April 19, 2021

International rating agency Moody's has upgraded by two notches to A3 the rating of the EUR 200 million covered bonds issued by Alpha Bank Romania. This places the bonds in the category of "upper-medium grade and low credit risk" up from "medium grade, with some speculative elements and moderate credit risk" previously.   "Based on further analysis of the legal ...

Bitcoin Romania setting to get 250,000 users by end-2021

Monday, April 19, 2021

Bitcoin Romania, the largest cryptocurrency trading platform in the country, has set to get 250,000 customers by the end of 2021, 50,000 more than its current base.According to a press statement released on Tuesday, the company plans to reach a network of 300 ATMs in 2021 and to address the NGO segment through a pilot programme to be carried out during the COVID-19 pandemic.One of Bitcoin's most important partnerships is with Auchan, with the two ...

ING Bank Romania lends Agrinvest Credit IFN 10m lei

Monday, April 19, 2021

ING Bank Romania has opened 10 million lei credit facility to Agrinvest Credit IFN non-banking financial institution to increase lending to small and medium-sized farmers and to cover the company's working capital needs in 2021, according to a statement of the bank."The products we offer are designed mainly for small and medium farmers, with loans customised for to each type of client - authorised individual trader, sole proprietorships, family businesses, ...

EIB confirms EUR 24 million support to strengthen research, education, and public health at Bucharest University of Medicine and Pharmacy

Monday, April 19, 2021

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The European Investment Bank has agreed a new EUR 24 million loan to enhance research, academic and student facilities at the “Carol Davila”  University of Medicine  and Pharmacy in Bucharest. This is part of the EIB’s EUR 100 million higher education investment initiative to support university investments in Romania.   The 25 year long-term financing EIB will support EUR 48 ...

Smart Fintech obtains National Bank of Romania authorization and becomes the first third party payment provider (TPP) through open banking in Romania

Monday, April 19, 2021

Smart Fintech announced today that they have officially received the authorization from NBR (National Bank of Romania), the regulatory authority, as a Payment Institution authorized to perform Payment Initiation Services (PIS). Thus, the start-up becomes the first open banking ...

Bloomberg: Sovereign Supply Glut Joined by Busiest Borrower in East Europe

Monday, April 12, 2021

Romania seeks 12-year and 20-year maturity in first 2021 sale   Italy and Portugal also in Europe’s primary market Wednesday   Romania is back in the international debt markets as it ratchets up spending to boost infrastructure projects and Covid-relief efforts.In its first foray this year, the ...

BNR: Press release on ceasing the publication of LIBOR (London Interbank Offered Rate) settings

Monday, April 12, 2021

  The National Bank of Romania (BNR) is the national competent authority in the field of supervising interest indices used by credit institutions and non-bank financial institutions as benchmarks in credit agreements, as regulated at European level ...

IMF lifts Romania's 2021 GDP growth forecast to 6%

Monday, April 12, 2021

Romania's economy will grow by 6% this year, the International Monetary Fund (IMF) said on Tuesday, increasing its forecast for a 4.6% growth made in October. In 2022, the IMF expects Romania's economy to grow by 4.8%, the Fund said in the April edition of its World Economic Outlook (WEO) report.   Romania's economy contracted by 3.9% in 2020, the IMF ...

Erste refinances entire Romanian portfolio of Belgian real estate investor Mitiska

Monday, April 12, 2021

Mitiska REIM, a leading specialist investor in European retail parks and convenience centers, has secured a EUR 123 million senior debt facility from Erste Group Bank AG to refinance its entire retail park portfolio in Romania.   The company manages one of the largest retail real estate portfolios in the country, including 24 shopping centers with a total area of 132,000 ...

BVB’s blue chips boast average 14% surge in Q1

Monday, April 12, 2021

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Construction materials producer TeraPlast Bistrita (TRP), nuclear power producer Nuclearelectrica (SNN), and aluminum producer Alro Slatina (ALR) were the best performing shares on the Bucharest Stock Exchange's (BVB) main market in the first three months of 2021.   They recorded gains of 83%, 42%, and 25%, according to BVB data. The market's blue-chip index BET advanced by 14% in Q1, marking the best start of the ...

BCR: economic activity in RO slows down in March amid restrictions

Monday, April 12, 2021

The economic activity in Romania deteriorated in March to 88% of the activity of a normal pre-pandemic month, down from 92% in February, according to a report by BCR quoted ...

Net assets of the investment funds grew by 1.1 in February

Monday, April 12, 2021

The net assets of the local investments funds registered growth of 1.1% in February against the previous month, being at a value of approximately 20.7 billion lei, according to a report of the Authority for Financial Supervision ( ASF).At the end of February 2021, the net assets of the funds for liabilities and fixed income grew by 0.6% as compared to the previous month, and those belonging to trusts recorded growth of 3.7% according to the data published by the ...

Joint press release on the accreditation of the financial education course for teachers teaching the mandatory “Social education” subject to eighth graders

Monday, April 12, 2021

The Ministry of Education, the National Bank of Romania, the Romanian Banking Association, the Romanian Banking Institute, the Financial Supervisory Authority and the Institute of Financial Studies have announced the accreditation of the single comprehensive course entitled “Economic and financial education for teachers”. The target group of this course consists of the secondary education teachers that teach “Social education” to eighth graders. ...

Signal Iduna reports 27 pct increase in volume of gross written premiums in 2020

Monday, April 12, 2021

The insurance company Signal Iduna Insurance Re-insurance ended 2020 with a 27 pct increase in the volume of gross written premiums compared to the previous year, thus exceeding the value of 120 million lei, informs the company in a press release sent on Wednesday.The company remains the leader of the health insurance market, according to the latest report issued by the Financial Supervisory Authority, the quoted document states.The number of insurance ...

ANIS and BVB will partner to promote the local capital market as a financing source for IT entrepreneurs

Monday, April 12, 2021

ANIS and Bursa de Valori Bucuresti (BVB) – Bucharest Stock Exchange signed a memorandum of understanding in order to promote the capital markets financing opportunities towards the Romanian IT companies.   The local IT sector witnessed a spectacular growth during the last ...

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