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Financial & Banking

Minutes of the monetary policy meeting of the National Bank of Romania Board on 5 October 2021

Monday, October 18, 2021

15 October 2021 The National Bank of Romania Board members present at the meeting: Mugur Isarescu, Chairman of the Board and Governor of the National Bank of ...

Balance of payments and external debt – August 2021

Monday, October 18, 2021

  In January - August 2021p, the balance-of-payments current account posted a deficit of EUR 10,149 million, compared with EUR 6,549 million in the same year-ago period, the National Bank of Romania informs. The breakdown shows that the deficits on trade in goods and on primary income widened by EUR 2,389 million and EUR 587 million, respectively; the surplus on secondary income and that on services decreased by EUR 315 million and EUR 309 ...

Aforti Holding - a company listed in Poland - makes its first step on the Romanian capital market

Monday, October 18, 2021

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The first bond issue of the Polish company Aforti Holding started trading today, October 12, on the Multilateral Trading System (MTS) of the Bucharest Stock Exchange, under the stock market ...

EximBank inks 24.7 million RON financial agreement with Romanian building materials producer Damila

Monday, October 18, 2021

EximBank has concluded a financial agreement worth 24.7 million RON with the Damila company, one of the main players in the area of distribution and manufacturing of building materials, targeted to financing the company's development strategy on short and medium term, according to a press release sent by the bank.The financial package, structured by the bank, includes both financing components - which cover the need of capital generated by the continuous ...

TBI Bank extends its partnership with Gomag eCommerce platform

Monday, October 18, 2021

Regional lender TBI Bank announced that it teamed up with the Romanian eCommerce platform Gomag to provide an all-in-one digital solution to offline and online retailers - including" buy now, pay later." TBI Bank extends its partnership with Gomag eCommerce platform   Through TBIPay buy now pay later model, merchants can provide their customers with the possibility to finance their purchases in a ...

Banca Transilvania, greenlighted by relevant authorities to purchase share in Getin Holding Group at Idea Bank

Monday, October 18, 2021

Banca Transilvania (BT) has received the necessary approvals from the National Bank of Romania (BNR) and the Competition Council (CC) for the acquisition of the entire package of shares held by Getin Holding Group in the share capital of Idea Bank SA, as well as for the stocks in the share capital of the companies from the Idea Bank Group in Romania, respectively Idea Leasing IFN SA and Idea Broker de Asigurare SRL, according to a report submitted to the Bucharest Stock ...

OTP Bank launches the contactless ATM Service for cash withdrawals at the Bank’s ATMs

Monday, October 18, 2021

OTP Bank continues to develop its mobile payment solutions portfolio offered for local clients by launching the “Contactless ATM” service, which allows them to withdraw cash just by simply approaching the smart phone / smart watch or bank card near the specially marked ATM area.   Cash withdrawal is possible through devices (phones, smart watches) that use digital ...

BNR Board decisions on monetary policy

Monday, October 11, 2021

The Board of the National Bank of Romania (BNR), having convened for the meeting of 5 October 2021, decided:   to increase the monetary policy rate to 1.50 percent per annum, from 1.25 percent per annum, as of 6 October 2021; to raise the deposit facility rate to 1.00 percent per ...

Raiffeisen Asset Management's AuM at 6 bln lei

Monday, October 11, 2021

 Assets under the management of Raiffeisen Asset Management (RAM) surpassed 6 billion lei at the end of August 2021, placing it at the top of the ranking of Romania's open-end management companies, with over 23 percent of the market, Raiffeisen Bank Romania said in a statement.Raiffeisen Asset Management's assets under management (AuM) increased by over 800 million lei compared to the end of 2020; equity and mixed-asset funds saw the fastest growth, ...

Romanian companies reward investors by growth rates twice as high as their US or European counterparts in the first 9 months

Monday, October 11, 2021

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The Romanian capital market surged by 29% in the first 9 months when looking at the BET index, and by 35.6% when taking into account BET-TR, which includes also dividends.  US’s S&P 500 increased by 14.7% after the first 9 months, while the European index STOXX600 went up by ...

Patricia Andrei appointed as HR Director at CEC Bank

Monday, October 11, 2021

Patricia Andrei is the new HR Director of CEC Bank, a position from which she will coordinate the entire human resources activity of the bank with the largest territorial network in Romania, which includes more than 1,000 units and almost 6,000 employees nationwide.   With more than 22 years of experience in the field, the new HR director has held various positions within the ...

Competition Councul authorizes take over of companies from IDEA Group by Banca Transilvania

Monday, October 11, 2021

The Competition Council authorized the transaction by which Banca Transilvania intends to take over the idea Bank S.A. and, indirectly, Idea Investment S.A., Idea Leasing IFN S.A. and Idea Insurance Broker S.R.L.According to a press release of the Competition Authority submitted on Wednesday, Banca Transilvania is the main company of Banca Transilvania, providing a wide range of financial services in Romania, such as banking services, investment services, ...

EBRD lobbies for amending regulations after entering biggest Romanian insurer

Monday, October 11, 2021

Euroins Romania, the biggest insurer after the collapse of market leader City, will benefit from a EUR 42 mln capital injection from the European Bank for Reconstruction and Development (EBRD) and its Bulgarian owner.   In a joint statement of the EBRD and Euroins, they announce "advanced discussions [with] ASF on the topic of amending the legislation for the insurance industry in ...

Chimcomplex has concluded financing contracts of EUR 56.7 million with CEC Bank and Alpha Bank for the full refinancing of existing loans

Monday, October 11, 2021

Chimcomplex SA Borzesti concluded on September 30, 2021, financing contracts of 56.7 million EURO, which include 26.7 million EURO from CEC Bank and 30 million EURO from Alpha Bank. They will be used for the full refinancing of the existing loans from VTB and Credit Suisse/Argentum Netherlands BV and for the continuation of development ...

Bucharest stocks' Radu Hanga: I think Romanian stock exchange is now registering new takeoff

Monday, October 11, 2021

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  This year the Romanian stock exchange has surpassed the cumulated listings of the last 6 years and now the institution is registering a new takeoff thus fulfilling its goal increasingly better, to help local companies to finance themselves, President of the Stock Exchange Bucharest Radu Hanga told an interview for ...

BNR Press release: Foreign Direct Investment in Romania in 2020

Monday, October 4, 2021

The National Bank of Romania (BNR) , in cooperation with the National Institute of Statistics, conducted the statistical survey regarding the foreign direct investment (FDI), the main data source for FDI Statistics. The major goal of the statistical survey was to determine the FDI net flows during the 2020 financial year, net income from FDI in 2020, as well as the FDI stock as at 31 December 2020 into the resident direct investment ...

BNR: International reserves – September 2021

Monday, October 4, 2021

On 30 September 2021, the National Bank of Romania’s foreign exchange reserves stood at EUR 41,216 million, compared to EUR 41,616 million on 31 August 2021.   During the month, the following flows were recorded:   EUR 779 million worth of inflows representing: changes in credit institutions’ foreign ...

Fiscal Council chair: PNRR has already become national psychosis

Monday, October 4, 2021

The National Recovery and Resilience Plan (PNRR) has become a national psychosis, and the thesis with the money coming in is not Okay, because we have to succeed with internal resources, not only with European resources, on Tuesday warned the chairman of the Fiscal Council, academician Daniel Daianu, in a debate."Romania needs a solid government. I don't think we have the institutional process that allows us instability. We also have this PNRR that has ...

Popa (BNR): There is excess of bank saving which could go to real Romanian economy

Monday, October 4, 2021

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There is in Romania an excess of bank saving which could go directly to the real Romanian economy by means of the capital market, said Cristian Popa, a member of the BNR Administration Board, on Wednesday.    “We have excess of deposits versus credits, we have excess of bank saving versus bank credits. This excess could finance even budget deficits of other states and we have an indicator ...

BNR governor argues Government is fully responsible for external deficit

Monday, October 4, 2021

Romania's public deficit of 9% of GDP in the context of a current account deficit of only 5% means that "the government sector is the one that creates the [external] deficit altogether," governor of the National Bank of Romania argued in a conference, quoted ...

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