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Financial & Banking
CEC Bank: Over 80% increase in Internet Banking Transactions
Monday, June 19, 2023
The total value of transactions conducted through the Internet Banking service offered by CEC Bank recorded an increase of over 80% in 2022 compared to 2021, as the bank continues to develop its range of services that can be contracted 100% online. “The increasingly diverse range of bank accounts available online at CEC Bank proves to be a real success. For these services, both the number of clients and the total ...
Smart Fintech integrates with Goldring, the award-winning investment broker in the Romanian capital market
Monday, June 19, 2023
Goldring S.A., an investment broker at the Bucharest Stock Exchange and on the major international markets, which offers trading services to individual and corporate investors, announces the ...
Ionut Dumitru: We have a 3% economic growth estimate for this year
Monday, June 12, 2023
Romania could register this year an economic growth of 3% which is not small if we compare it to other states in the region,stated on Thursday Ionut Dumitru, head economist Raiffeisen Bank, and the Annual Conference of the Association of Banking-Financial Analysts of Romania."I don't know if we can say it's slowing down (economic growth - ed.) We can say it's a deceleration really in economic growth, a ...
Lazea(BNR): Budget is extremely tight, we all have to pay taxes to state
Monday, June 12, 2023
All citizens of this country should know that the budget is extremely tight and giving more money to someone means cutting from someone else, the main reason being the fact that budget revenues in Romania are the lowest in Europe, of 27% of GDP, said on Thursday Valentin Lazea, chief economist at the National Bank of Romania (BNR), present at the Annual Conference of the Association of Financial and Banking Analysts from Romania."So, we have 27% [budget ...
Bucharest Stock Exchange to continue efforts to attract local companies
Monday, June 12, 2023
The Bucharest Stock Exchange (BVB) will continue efforts to attract local companies in order to increase its visibility, but also for a transfer of credibility between the listed issuers, BVB president Radu Hanga told the ARIR 2023 Forum on Friday."We will continue this trend of looking to attract as many local companies as possible to the stock exchange. By increasing the number of companies, we increase the visibility of the exchange and, ...
Court orders opening of Euroins Romania bankruptcy proceedings
Monday, June 12, 2023
The Bucharest Tribunal has affirmed the merits of a request made by the Financial Oversight Authority (ASF) ordering the opening of the bankruptcy procedure of Euroins Romania Asigurare Reasigurare, ASF announced on Friday.According to ASF, the policies issued by the company, with the exception of the guarantees, are still valid until September 8, 2023."The Bucharest Court today affirmed the state of insolvency found by the Financial Oversight ...
tbi bank joins the EuPlatesc platform
Monday, June 12, 2023
Retail sales volumes are on a declining trend this year, as inflation continues to erode Romanians’ purchasing power. To help retailers boost sales and offer customers a new efficient financing tool, tbi bank has partnered with EuPlatesc.ro, one of the leading payment processors in Romania, working with almost 2,000 retailers. This agreement is part of tbi bank’s strategy to support social and financial ...
Filbo and Flip.ro partner to help small entrepreneurs develop their businesses
Monday, June 12, 2023
Filbo, the fintech specializing in providing 100% digital financial solutions, announces the partnership ...
Reuters: Hidroelectrica to list up to 20% of stock from July
Monday, June 12, 2023
Romanian energy producer Hidroelectrica said on Tuesday that it plans to list up to 20% of its stock on the local bourse, in what could be one of Europe's largest initial public offerings (IPO) so far this year, Reuters reports. The state-backed company, which operates more than 180 hydro-electric power plants across Romania, expects to start trading on the Bucharest Stock Exchange next ...
International reserves – May 2023
Monday, June 5, 2023
On 31 May 2023, the National Bank of Romania’s (BNR) foreign exchange reserves stood at EUR 53,082 million, compared to EUR 53,341 million on 30 April 2023. During the month, the following flows were recorded: EUR 1,801 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with ...
EY: UK and European banks progress Basel III reform programmes despite rising regulatory compliance costs
Monday, June 5, 2023
UK and European headquartered global banks are reporting strong progress towards Basel III compliance, well ahead of the January 2025 implementation deadline, according to new EY ...
BNR official comments on the sanctions applied by ANPC to some important banks in Romania
Monday, June 5, 2023
The sanctions recently ...
BCR debuts on the Bucharest Stock Exchange with the first international issue of green Eurobonds by a Romanian bank
Monday, June 5, 2023
Banca Comerciala Romana (BCR), one of the most important financial groups in Romania, lists on Tuesday, May 30, the first international issue of green Eurobonds of a Romanian bank, under the stock ...
The Role of UX Design in Banking Software Development
Monday, June 5, 2023
For a long time, there has been a misconception that banks are one of the least user-friendly sectors. However, the adoption of UX design in the banking industry erases this misconception. Today, UX design plays a vital role in efficient banking software development. Today, most banking customers prefer digital transactions to traditional local bank visits. This increase in demand for digital banking facilitates a significant need for banking software ...
BNR: Monetary indicators - April 2023
Monday, May 29, 2023
According to the National Bank of Romania (BNR) data, at end-April 2023, broad money (M3) amounted to RON 618,680.4 million, up 0.8 percent (0.02 percent in real terms ) month on month. In year-on-year comparison, ...
Speech during International Economic Conference of Sibiu Cristian Popa, CFA, BNR Board Member
Monday, May 29, 2023
Mr. Rector,Madam Dean,Distinguished members of the academic community,Ladies and gentlemen, It is truly an honour to speak before you today at the opening ceremony of the 30th edition of the International Economic Conference of Sibiu, an event that brings together seasoned experts from research centres and universities, highly esteemed researchers in the field of economics, and prominent professors each ...
The Ministry of Finance has taken over the Rural Credit Guarantee Fund through CEC Bank
Monday, May 29, 2023
The ministry of finances took over the Rural Credit Guarantee Fund through CEC Bank, which acquired the BRD Groupe Societe Generale, BCR and Raiffeisen Bank stakes to the fund, announced on Friday the minister of finances, Adrian Caciu, at the debate ‘ Solutions for financial guarantee – the retrospective and perspective 2023 – 2024’.According to the information on the Fund's website, the FGCR-IFN is majority privately owned by ...
Voluntary pension funds had assets of 3.94 billion lei in April, up 17.35%
Monday, May 29, 2023
Voluntary pension funds had assets worth 3.94 billion lei at the end of April up by 17.35% as compared to the level registered at the same date of the previous year, according to a report of the Authority for Financial Supervision (ASF).‘Most investments were made locally (94%), the majority being in lei (90%)’, the report says.Government securities held the largest share of ...
The compulsory private pension funds got to assets of 105.20 billion lei in April
Monday, May 29, 2023
Mandatory private pension funds had assets worth 105.20 billion lei at the end of April, up 18.9% from the level recorded at the same date in 2022, according to Financial Supervisory Authority (FSA) statistics. ‘Investments of the pension funds managed privately were made in a percentage of 90% in Romanian shares, the majority being in lei. A large part of the Romanian instruments are represented by government securities or shares listed on the ...
SIGNAL IDUNA launches the Easy Pay virtual card
Monday, May 29, 2023
SIGNAL IDUNA, number 1 in health insurance in Romania, according to the latest report of the Financial Supervisory Authority (ASF), launched the Easy Pay virtual card. This revolutionary payment method allows the companies insured to access to any medical provider in the country, even outside the partner network, without having to pay from their funds and then request a refund. SIGNAL IDUNA transfers, in advance, the amount of money needed to access ...