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Financial & Banking
BNR Board decisions on monetary policy
Monday, January 17, 2022
The Board of the National Bank of Romania, having convened for the meeting of 10 January 2022, decided: to increase the monetary policy rate to 2.00 percent per annum, from 1.75 percent per annum, as of 11 January 2022; to extend the symmetric corridor of interest rates on ...
Erste Group Research: CEE Market Insights. Romanian central bank ups its game
Monday, January 17, 2022
Romanian central bank ups its game, according to Erste Group analysts. The most essential insights from the CEE region this week are the upcoming string of inflation data and two monetary policy meetings. The board members of the National Bank of Romania had a ...
BNR: Balance of payments and external debt – November 2021
Monday, January 17, 2022
In January – November 2021 , the balance-of-payments current account posted a deficit of EUR 15,313 million, compared with EUR 9,753 million in the same year-earlier period. The breakdown shows that the deficits on trade in goods and on primary income widened by EUR 3,895 million and EUR 784 million, respectively; the surplus on secondary income and that on services decreased by EUR 515 million and EUR 366 million, ...
First Romanian cryptocurrency to be launched into space in early February
Monday, January 17, 2022
The Romanian cryptocurrency, Aether, launched at the end of last year in the Binance Smartchain network, which has a market capitalization of 750,000 US dollars and 5,648 investors, will be launched into space at the beginning of February, with a rocket belonging to ARCA Space, a local aerospace company, informs the company's representatives."The innovation of this ambitious project is that it will reach space and at the same time develop satellites that ...
BCR: As a percentage of GDP is similar to the level of 2021. We do not see a financing problem for Romania
Monday, January 17, 2022
"We don't see a funding problem," chief economist of BCR bank Ciprian Dascalu said, speaking for Ziarul ...
World Bank sees Romania’s growth as moderating alongside the euro area
Monday, January 17, 2022
Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from COVID-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies, according to ...
PayU, eMAG and Alpha Bank Romania extend Instant Money Back service in Hungary
Monday, January 17, 2022
PayU, eMAG and Alpha Bank Romania extend the Instant Money Back service to Hungary, so that eMAG clients that are making online payments with a saved card and make a return, receive the value of the returned products in maximum 30 minutes after the solving of the return, the bank announced on Tuesday."Through the introduction of the Instant Money Back solution, PayU, together with its partners, has offered a unique product in Europe, which, after ...
EBRD backs car parts maker Faurecia in four countries, including Romania
Monday, January 17, 2022
The European Bank for Reconstruction and Development (EBRD) confirmed it is investing up to EUR 80 mln in a six-year bond ESG issue by French auto parts maker Faurecia to back investments in Romania and three other countries by 2026. The financing will be used exclusively to support Faurecia's 2022-2026 investments in Morocco, Poland, Romania and Tunisia. These include R&D for electric vehicles and renewable energy ...
CEC bank disburses EUR 127 mln in dividends to Romanian Govt
Monday, January 17, 2022
Romanian state-owned CEC Bank disbursed last week dividends of RON 634.3 mln (EUR 127 mln) for the financial years 2019 and 2020 to its shareholder, the Ministry of Public Finance. The bank distributed over 85% of its net profit attributable to shareholders - having one of the highest dividend payout ratios on the market. "We have ...
BNR: International reserves – December 2021
Monday, January 10, 2022
On 31 December 2021, the National Bank of Romania - BNR’s foreign exchange reserves stood at EUR 40,475 million, compared to EUR 39,283 million on 30 November 2021. During the month, the following flows were recorded: EUR 5,023 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves ...
Bucharest Stock Exchange wins 5.28 billion RON from capitalization in first week of 2022
Monday, January 10, 2022
The Bucharest Stock Exchange (BVB) won 5.28 billion RON from the capitalization, 2.3 pct respectively, in the first week of 2022, and the value of the transactions with shares registered a decrease of 12 pct, compared to the previous week, according to the data published by BVB.The market capitalization reached 234.363 billion RON in the period 3 - 7 January 2022, from 229.078 billion RON recorded in the week of 27 - 31 December 2021.The transactions ...
Green banking exposure at end of June 2021 reaches 5.1 billion RON
Monday, January 10, 2022
The green banking exposure increased starting with June 2015, up to 5.1 billion RON, at the end of June 2021, amounting to 4 pct of the total exposures to the non-financial sector, according to the data published by the National Bank of Romania (BNR)."The strong expansion (320 pct compared to the beginning of the period) of green exposures shows an increasing appetite of banks for green lending and for supporting the transition to a low-carbon economy," is ...
Optional pension funds, assets worth 3.28 billion lei on November 30, up 15pct
Monday, January 10, 2022
Optional pension funds had assets worth 3.28 billion lei, as of November 30, 2021, up 15pct compared to the same date last year, according to a report of the Financial Supervisory Authority (ASF)."Most of the investments were made locally (91pct), most of them denominated in lei (89pct)," the report states.Government securities had the highest share of assets, of 2.003 billion lei, respectively 61.11pct. On the second place were the shares, with ...
Mandatory private pension funds have assets worth 85.98 billion lei in November, up 18%
Monday, January 10, 2022
Mandatory private pension funds had assets worth 85.98 billion lei at the end of November 2021, up 18% from the level recorded on November 30, 2020, according to the Financial Supervisory Authority (ASF)."The investments of privately managed pension funds were 87% focused on Romanian assets, most of them denominated in lei. A large part of the Romanian instruments are represented by government securities or shares listed on the Bucharest stock exchange," the ...
Crypto in 2022: volatility levels and potential future
Monday, January 10, 2022
With Bitcoin having experienced a huge year that provided a number of twists and turns throughout 2021, there will be many questioning what 2022 can offer cryptocurrency and the entire industry over the course of the next 12 months. As everyone will already know, crypto is incredibly volatile, thus making it extremely hard and difficult to predict what may happen over a ...
Feza Tan is the new first executive Vice President of UniCredit Bank
Monday, January 10, 2022
Feza Tan began her term as First Executive Vice President and a member of the Board of Directors of UniCredit Bank following the green light of the National Bank of Romania.Feza Tan has a career of almost 30 years in the banking system and an important managerial experience, holding the position of CEO of UniCredit Bank Serbia since 2018. “I am honored to take over the mandate of First ...
One United Properties shares liquidity to be enhanced by Raiffeisen Centrobank
Monday, January 10, 2022
One United Properties (ONE), a real estate developer of premium residential projects in Romania, will benefit as of January 3, 2022, from ...
Labour Ministry to contract technical assistance services from World Bank to reform pension system
Monday, January 3, 2022
The Ministry of Labour will contract technical assistance services from the World Bank to implement the reform of the public pension system as provided in the National Recovery and Resilience Plan (PNRR), according to a memorandum approved by the Government on Tuesday."A memorandum initiated by the Ministry of Labour has been approved. It is part of the commitments made under the PNRR and, based on this approval of the memorandum in the Government, the Ministry of ...
BRD grants financing of over 2 billion lei since start of IMM Invest program
Monday, January 3, 2022
BRD has granted financing of over 2 billion lei, since the start of the IMM Invest program, the largest part of it going towards constructions, trade, agriculture and transport area, Francois Bloch, CEO of BRD Groupe Societe Generale declared in an interview for Agerpres.Asked if banks have funds to carry out new financing programs in the near future, he said that PNRR (Romania's National Recovery and Resilience plan) is a strategic plan, which can change ...
EY Report: 2021 was the most active year for the IPO market over the past 20 years
Monday, January 3, 2022
In the face of the uncertain environment that 2021 promised, the global IPO market had an exceptional year, breaking records by IPO volume and proceeds consistently into the fourth quarter. In the last quarter, the winds shifted with the surfacing of the COVID-19 omicron variant, continuing geopolitical tensions and increased market volatility. Overall, 2021 saw a total of 2,388 deals raising US$453.3b in proceeds, a 64% and 67% respective increase YOY. ...