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Financial & Banking
Balance of payments and external debt – February 2025
Monday, April 14, 2025
In January – February 2025p, the balance-of-payments current account posted a deficit of EUR 4,809 million, compared with EUR 2,600 million in the first two months of 2024. The breakdown shows that the deficit on trade in goods widened by EUR 1,502 million, the surplus on services fell by EUR 187 million, the primary income deficit increased by EUR 93 million, while the secondary income surplus decreased by EUR 427 ...
EBRD and UniCredit sign their first synthetic securitisation in Romania
Monday, April 14, 2025
EBRD provides up to €77.5 million in credit protection to UniCredit Bank S.A Transaction to enhance UniCredit Bank’s capital resilience, increase lending capacity UniCredit Bank to extend new lending to private sector, including for green ...
Rating Action Commentary: Fitch Affirms City of Bucharest at 'BBB-'; Outlook Negative
Monday, April 14, 2025
Fitch Ratings has affirmed the Romanian City of Bucharest's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-' with Negative Outlook. The affirmation reflects Fitch's unchanged view that in the medium term the city's operating performance and debt ratios will remain in line with peers with 'aa' category financial profiles. This is despite pressures on its budget from ...
Rating Action Commentary: Fitch Affirms Romanian City of Oradea at 'BBB-'; Outlook Negative
Monday, April 14, 2025
Fitch Ratings has affirmed the Romanian City of Oradea's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-' with Negative Outlook. At the same time Fitch has affirmed the city's Short-Term Foreign-Currency IDR at 'F3'. The affirmation reflects Fitch's view that the City of Oradea's operating performance and debt ratios will remain in line with those of peers with a financial ...
Rating Action Commentary : Fitch Withdraws Romanian Cluj County's Ratings
Monday, April 14, 2025
Fitch has chosen to withdraw Cluj County's ratings for commercial reasons as the issuer decided to stop participating in the rating process. Therefore, we will no longer have sufficient information to maintain the ratings. Accordingly, Fitch will no longer provide analytical coverage for Cluj County. Key Rating Drivers No longer relevant, as the ratings have been ...
Rating Action Commentary : Fitch Affirms Romanian City of Brasov at 'BBB-'; Outlook Negative
Monday, April 14, 2025
Fitch Ratings has affirmed the Romanian City of Brasov's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-' with a Negative Outlook. The affirmation reflects Fitch's view that the City of Brasov's operating performance and debt ratios will remain in line with those of peers with a financial profile in the 'aaa' category over the medium term. This is despite budgetary pressures ...
Banca Transilvania Group expands into the Republic of Moldova
Monday, April 14, 2025
Victoriabank, part of the Banca Transilvania Financial Group, has taken the first step today toward a new acquisition in the Republic of Moldova, in the microfinance sector. Representatives of Victoriabank and Microinvest, the market leader in microfinance in Moldova, signed an agreement in Chisinau through which Victoriabank will acquire Microinvest. The new acquisition will support the growth of ...
Salt Bank marks its one year anniversary with 500,000 customers and new digital banking features
Monday, April 14, 2025
Salt Bank celebrates one year since its launch with a new breakthrough: over 500,000 customers have chosen Romania’s first 100% Romanian neobank so far – twice in volume versus the initial estimates. Salt Bank is already among the top 10 banks in Romania and continues to grow at an accelerated pace, launching innovative digital products – some of them in premiere on the local market. In April 2024, Salt ...
SIGNAL IDUNA companies recorded an aggregated growth of 16% in 2024 and continue to expand
Monday, April 14, 2025
The SIGNAL IDUNA companies concluded 2024 with a total gross written premium volume of approximately RON 424 million, marking an aggregated growth of 16% compared to the previous year. These financial results reflect the consolidation of a sustainable development strategy, supported by portfolio expansion, digitalization, the launch of new solutions for both individual and corporate clients, and the signing of the acquisition agreement for Garanta Asigurari – currently ...
CEC Bank Financial Group: Preliminary financial results for 2024
Monday, April 14, 2025
CEC Group reports a net profit of 687.9 million lei for 2024. The group continued to consolidate its market position and recorded an increase in net assets to 99.33 billion lei – up 19% compared to the same period of the last year. The Group’s net assets increased by 19% compared to the same period last year, from 83.61 billion lei to 99.33 billion lei. In the case of the Bank, net assets increased from 83.55 billion lei to ...
International reserves – March 2025
Monday, April 7, 2025
In 31 March 2025, the National Bank of Romania’s foreign exchange reserves stood at EUR 61,993 million, compared to EUR 62,593 million on 28 February 2025. During the month, the following flows were recorded: EUR 2,336 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with the NBR; inflows into the Ministry of ...
Central bank Governor Isarescu: A financially educated society becomes more resilient
Monday, April 7, 2025
The National Bank of Romania and the Bucharest School of Economics (ASE) are two institutions that have played an essential part in Romania's development and modernisation, training elite specialists who have outlined the strategic directions of the national economy and have had a profound impact on the progress of the country, Governor of the National Bank of Romania Mugur Isarescu said on Wednesday."The event is part of the series of initiatives and projects carried out ...
Analysis: Romania has some of cheapest mortgage loans in Central and Eastern Europe
Monday, April 7, 2025
Romania has some of the cheapest mortgage loans in Central and Eastern Europe, at similar levels to those in Western Europe, when considering average national salaries and the costs of purchasing a two-room (one-bedroom) apartment through a mortgage loan over a 25-year period, according to a report by an online broker.The average mortgage rate required to purchase a two-room apartment in Bucharest accounts for approximately 45% of the average net salary in Romania, making ...
Chief economist Lazea: There is a great reluctance of Romanian companies to take out bank loans
Monday, April 7, 2025
Romania ranks last in the European Union in terms of the share of bank loans in the Gross Domestic Product (GDP), but first in terms of the share of commercial loans, with the latter having a non-performance rate almost three times higher than bank credit, according to chief economist of the National Bank of Romania (BNR) Valentin Lazea."Commercial banks have significant resources that can be used for bank lending to companies, given that the ratio between loans and ...
Compensation payments based on compulsory car insurance policies up 38% last year
Monday, April 7, 2025
The compensation payments made last year by insurance companies under RCA (compulsory car insurance) policies increased 38%, reaching over 4.7 billion lei, according to a press release from the National Union of Insurance and Reinsurance Companies in Romania (UNSAR).This value is supplemented by compensation payments made by the Guarantee Fund for Insurers (FGA) - which rose by approximately 48% - as well as the reserves set aside by insurers according to the law. ...
BNR's Marinescu: Attraction and timely use of European funds, one of the developments closely monitored
Monday, April 7, 2025
One of the developments closely monitored by the National Bank of Romania is the attraction and timely use of European funds, National Bank of Romania (BNR) Deputy Governor Cosmin Marinescu told a specialist event on Monday."We face a complex path marked by the challenge of balancing green objectives related to the energy transition with energy security and economic security objectives, those aimed at protecting vulnerable consumers and ensuring industrial ...
Vista Bank (Romania) SA to serve the loan portfolio of EUROBANK SA in Romania
Monday, April 7, 2025
Vista Bank announces the agreement with EUROBANK SA (Greece) for the servicing of the loan portfolio of the former subsidiary of EUROBANK in Romania (Bancpost) starting with 31st March 2025. The portfolio includes more than 8,000 individuals and SME’s clients with total exposure of more than €500 million. PWC and David & Baias provided tax & legal advice. Vista Bank is ...
Exim Banca Romaneasca has a new Executive Vice President
Monday, April 7, 2025
Eugen Bunea joins the executive management of Exim Banca Romaneasca and assumes the role of Executive Vice President for back-office operations following his appointment by the bank’s Board of Directors and authorization by the National Bank of Romania. Eugen Bunea, who will oversee the Operations Division, IT Division, and the Banking Recovery and Resolution Department, has been part of the EximBank/Exim Banca Romaneasca team since 2019, when ...
Monetary indicators - February 2025
Monday, March 31, 2025
At end-February 2025, broad money (M3) amounted to RON 737,187.2 million, up 0.3 percent (-0.6 percent in real terms) month on month. In year-on-year comparison, broad money ...
Stanleybet Capital lists a new bond issue on the Multilateral Trading System of the Bucharest Stock Exchange
Monday, March 31, 2025
Stanleybet Capital S.A. (Stanleybet), a holding company that integrates and coordinates a network of sports betting and slot machine agencies, gambling halls and online gambling platforms, lists on the Multilateral Trading System of ...