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Financial & Banking

Banca Transilvania show robust growth in Q1

Monday, May 16, 2022

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Banca Transilvania (BT), the financial group that includes Romania's largest lender by assets, announced that it extended 63,000 new loans amounting to RON 6,357 mln in Q1 this year, 61% more compared to the same period last year. The number of transactions for both the individuals and legal entity customers across all BT channels was 35% higher compared to the same period of ...

International reserves – April 2022

Monday, May 9, 2022

On 30 April 2022, the National Bank of Romania’s foreign exchange reserves stood at EUR 40,501 million, compared to EUR 40,143 million on 31 March 2022.   During the month, the following flows were recorded: EUR 3,562 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with the NBR; inflows ...

Romanians abroad send 91 million Euro to country through Revolut, in Q1, 33% more than 2021

Monday, May 9, 2022

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 The data from Revolut shows that during the first trimester of this year, Romanians abroad have sent 91 million Euro to the country, with 33% more than the same period of last year, according to a press release sent last week.A Revolut user that is working or established outside the country's border has sent, on ...

CEC Bank becomes primary dealer on government bond market

Monday, May 9, 2022

Starting Monday, CEC Bank will become the primary dealer on the government bond market, informs the bank in a release.According to the quoted source, this status allows the bank to participate directly in the public auctions and subscriptions of government bonds organized on the primary market, together with the other 7 financial institutions that have the status of primary dealer."Obtaining the status of primary dealer is a confirmation of the ...

Credit Europe Bank Romania recorded a net profit of 70 million lei in 2021 02.05.2022

Monday, May 9, 2022

The net profit of 70 million lei registered by Credit Europe Bank Romania in 2021 comes mainly as a result of the increase in credit cards turnover, but also of the decrease in the operational expenses.   Between January and December 2021, the bank's assets reached 4.3 billion lei, up from 2020, while the loan portfolio reached 2 billion lei and deposits attracted by the bank ...

BCR Group reports 12.5% higher profit in Q1

Monday, May 9, 2022

BCR Group, the financial group that operates the second-largest bank in Romania, part of Austria's Erste Group, reported that its net profit rose by 12.5% in Q1, compared to the same period last year, to RON 477.5 mln (EUR 96.5 mln).   The lending and subsequently the income increased significantly, the bank explains. BCR's assets exceeded RON 89.7 bln (EUR 18 bln) at the end of March, 7.6% more ...

1.8 billion euros is the sum of City's debts to policyholders and third parties

Monday, May 9, 2022

Until now, about 1,600 creditors of the Romanian bankrupt insurer City Insurance, formerly the market leader with a 43% market share, have filed requests to recover a total amount of RON 9 bln (EUR 1.8 bln), according to the information provided by the representatives of CITR, the court-appointed liquidator of the insurer. The creditors are summoned for the first meeting on May ...

OTP Bank Romania’s financial results for Q1 2022: RON 24 Million loss

Monday, May 9, 2022

OTP Group announces the financial results for the first three months of 2022. According to the report published in Budapest, which presents the consolidated results adjusted in accordance with the Group´s standards, OTP Bank Romania has registered a RON 24 million loss during the first quarter of 2022, predominantly shaped by risk costs.   Operating profit in Q1 2022 reached RON 35 million, several times higher ...

BRD Group results for Q1 2022: Total revenues reached RON 810 M

Monday, May 9, 2022

BRD Group total revenues reached RON 810 million, higher by +7.5% compared to Q1 2021. Net interest income registered a material growth (+9.8% y/y) supported by a very good momentum in loans volumes, while the positive effect of rising interest rates starts to progressively reflect on revenues. Benefitting from higher volumes of customers’ ...

Raiffeisen Bank posts net profit of RON 218 Million in Q1 2022

Monday, May 9, 2022

Raiffeisen Bank achieved “a very good financial performance in the first quarter of 2022,” reporting a net profit of RON 218 million, up 10 per cent compared to the first quarter of the previous year, a press release by the bank reported. The increase in profit resulted from increased customers’ transactional activity both individuals and companies, along with maintaining the Bank’s risk profile at a very good ...

BNR: Monetary indicators – March 2022

Monday, May 2, 2022

At end-March 2022, broad money (M3) amounted to RON 567,285.5 million, down 0.6 percent (or 2.4 percent in real terms )month on month. In year-on-year comparison, broad money rose by 13.6 percent (3.2 percent in real terms), the Na?ional ...

TBI Bank offers short and long-term deposit solutions with high return to preserve Romanians’ savings

Monday, May 2, 2022

The economic and social shockwaves that Covid-19 and the current events in Ukraine sent throughout the world intensified the need for personal financial stability and flexibility. The galloping inflation reduced even more the purchasing power of Romanians.   TBI Bank now offers one of the best interest rates on the market with its online and offline deposits in lei in a wide range of maturities. The top interest rate is ...

BCR, Q1 2022 Results: Net Profit Of EUR 96.5 M

Monday, May 2, 2022

Measures taken in the context of the war in Ukraine More than 10,000 Ukrainian citizens have so far benefited of UAH-RON (hryvnia – lei) cash exchange, at the NBR exchange rate. The exchange is valid for up to 1,000 lei per person/Ukrainian passport only for people with Ukrainian passports, as humanitarian aid. Development of the BCR mobile office at the Isaccea border point and ...

IMMOFINANZ Results in 2021: 46% increase in results of operations, net profit reaches EUR 346 million

Monday, May 2, 2022

The 2021 financial year brought a massive increase in IMMOFINANZ’s earning power: The results of operations rose by roughly 46% to EUR 210.1 million and clearly topped the previous year as well as the pre-crisis period in 2019. Net profit improved significantly to EUR 345.8 million, compared with the crisis-related loss of EUR -165.9 million in the previous year.   IMMOFINANZ successfully implemented its ...

Study: In 2022, BVB investors expect good performance from IT&C and Energy & Utilities Companies

Monday, May 2, 2022

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Cornerstone Communications, a local consulting firm specializing in investor relations and capital markets advisory, together with MIA Marketing, a Romanian market research company, publish a new series of results from the study dedicated to the capital market and analysis of the behaviour of Romanian retail investors. The study was conducted between December 2021 and January 2022 on a sample of 177 local retail investors with exposure to companies listed on the ...

Banca Transilvania continues integration of Idea::Bank after takeover

Monday, May 2, 2022

Romania’s largest financial group Banca Transilvania announced the first services made available to the customers of Idea::Bank, as well as the launch of an information microsite.   Banca Transilvania took over Idea::Bank in 2021, and since then, it has been integrating it into its banking system.   The integration of Idea::Bank into ...

Insurers: Protection deficit of income-generating population in Romania is worth 121 billion euros

Monday, May 2, 2022

  The protection deficit of the income-generating population in Romania, in case of occurrence of insured risks, amounts to a value of 587 billion RON (121 billion euros), according to a study conducted for the National Union of Insurance and Reinsurance Companies in Romania (UNSAR) by a group of independent experts.According to the most recent data, for many families in Romania, the occurrence of an unwanted event (accident, illness of a family ...

Polish Payment Fintech BLIK sets its sights on Romania

Monday, May 2, 2022

BLIK, a modern mobile payment system that was launched with the support of all major banks in Poland in 2015, is currently the most popular way to pay in this country. 21 million users of mobile banking applications in Poland already have access to BLIK, and over 10 million people use it regularly for payments. BLIK’s founders are now looking at expansion possibilities  in other EU countries, the priority being Romania, CEE’s second biggest market. BLIK ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 5 April 2022

Monday, April 18, 2022

15 April 2022   The National Bank of Romania Board members present at the meeting: Mugur Isarescu, Chairman of the Board and Governor of the National Bank of Romania; Florin Georgescu, Vice Chairman of the Board and First Deputy Governor of the National Bank of Romania; Leonardo Badea, Board member and Deputy Governor of the National Bank of ...

BNR: Balance of payments and external debt – February 2022

Monday, April 18, 2022

  In January - February 2022p, the balance-of-payments current account posted a deficit of EUR 2,252 million, compared with EUR 1,442 million in the same year-ago period, the Central Bank (BNR) informs.   The breakdown shows that the deficit on trade in goods widened by EUR 1,192 million, the surplus on services increased by EUR 131 million, that on ...

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