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Financial & Banking
Ocean Credit invests LEI 4 mln in the development of the new core banking platform OC 3.0
Monday, March 1, 2021
Ocean Credit, the first fintech startup to bring the card2card money transfer technology to the Romanian credit market, is investing LEI 4 mln in the development of a new core banking platform, OC 3.0, the 100% transparent user interface. The platform was built to support the new innovative ...
FONDUL PROPRIETATEA FINANCIAL RESULTS FOR 2020
Monday, March 1, 2021
Fondul Proprietatea (hereinafter “The Fund”) published ts financial results for 2020 and would like to share the following highlights: The Fund’s share price registered a strong performance in the second part of 2020, following the rebound of global stock markets, which led to a historical high level of the share price of RON 1.4500 per share registered on 30 December 2020, and also the lowest discount ...
OTP Bank Romania opens new branch in Timisoara
Monday, March 1, 2021
OTP Bank Romania has announced the inauguration of a new branch in the city of Timi?oara, located within the ISHO real estate district, bld. Take Ionescu, no. 50-52. The new branch is developed under the regional banking service center concept, which brings together a self service area and personalized customer advice from trained bank specialists. The new OTP Bank investment is part of the organic ...
BNR participates in final of largest acceleration programme for fintech startups in Romania
Monday, March 1, 2021
The Romanian central bank (BNR) and two other central banks in the region are participating in NEXTFintech, the final of the largest acceleration programme for fintech startups in Romania, according to a press release ."Central but also private banks from Romania, Georgia and North Macedonia, including the National Bank of Romania, Banca Transilvania, ...
Romania, identified with one of highest annual percentage rate in EU
Monday, March 1, 2021
Romania was identified with having one of the highest annual percentage rate (APR) in the entire European Union, namely 30,341% (thirty thousand three hundred forty one percent), for a loan of 180 Euro granted by a non-bank institution for a payday loan, a study reveals, regarding crediting in Romania made by the Credere Association, upon the request of Finance Watch Brussels."The ambiguity of costs, hiding some costs or redirecting ...
Bittnet Systems stock included in FTSE Global Micro Cap and FTSE Total-Cap indices
Monday, March 1, 2021
Bittnet Systems (BNET) stock will be included as of March 22 in the FTSE Global Micro Cap and FTSE Total-Cap indices, following the latest half-yearly review of the FTSE Russell indices, the Bucharest Stock Exchange (BVB) informs."FTSE Russell's announcement is very important news for the entire capital market and even more so for all those who have chosen to invest in Bittnet stock. Romania's upgrade to emerging market status ...
A New Real-Time Data Terminal Created By BVB For Investors
Monday, March 1, 2021
Bucharest Stock Exchange (BVB) brings to the market a new product dedicated to investors and all those interested in trading and the evolution of financial instruments listed on BVB. Exchange ...
Fiscal Council sees 2021 budget draft feasible
Monday, February 22, 2021
The Romanian Fiscal Council issued a positive opinion on the 2021 budget planning drafted by the Government.The budget deficit targets, both under the national (7.16% of GDP) and ESA (8.2% ...
The Economic and Social Council gave a negative opinion on the draft budget
Monday, February 22, 2021
Romania's Economic and Social Council (CES) issued a negative opinion on the 2021 budget law drafted by the Government, objecting to the so-called "austerity measures" included: no holiday ...
AmCham argues Romanian Govt. should work on increasing tax collection
Monday, February 22, 2021
Romania's Government should strengthen the administrative capacity to best benefit from the significant allocations for health, education, and infrastructure on the expenditures side, AmCham Romania recommended in the context of the debates on the 2021 State Budget project. On the revenues side, the authorities should also pursue concrete measures to increase the tax collection revenues by modernizing and digitizing the ...
BSTDB Supports Business Infrastructure in Romania
Monday, February 22, 2021
The Black Sea Trade and Development Bank (BSTDB) has extended a EUR 50 million loan to One United Tower S.A. to facilitate the development of business infrastructure in Romania, a statement sent to ACTMedia informs. The purpose of the BSTDB loan is to finance the development costs of “One Tower”, a green office building making part of the newly developed One Floreasca City mixed-use ...
Assets of optional pension funds top 3 bln lei as of January 29
Monday, February 22, 2021
As of January 29, 2021 optional pension funds held assets worth over 3 bln lei, up 18.58 percent YoY, the Financial Supervisory Authority (ASF) announced.Government securities account for the highest share of this amount, with 1.918 bln lei (63.53 pct), followed by stocks with 796.571 mln lei (26.38 pct) and corporate bonds with 89.509 mln lei (2.96 pct).Assets of Pillar III pension funds totaled 3.019 bln lei as of January 2021 and were ...
Assets of privately managed mandatory pension funds at over 77.6 bln lei this January
Monday, February 22, 2021
Assets of mandatory privately managed pension funds amounted to over 77.6 billion lei as of January 29, up 23 percent YoY, shows data of the Financial Supervisory Authority (ASF).Government securities account for the largest share in assets with 52.23 billion lei (67 pct), followed by stocks with 17.2 billion lei (22.16 pct) and corporate bonds with 2.97 billion lei (3.84 pct).According to ASF data, Pillar II pension fund assets totaled 77.607 ...
Romanians can access an Ocean Credit loan in just 8 minutes thanks to the new OC 3.0 platform
Monday, February 22, 2021
Ocean Credit has a mission, to turn complex financial information into simple data that can help people save money when borrowing, a press release sent to ACTMedia reads. Time and experience are the decisive factors that differentiate a Fintech from ...
Chimcomplex Borze?ti sells 189 million shares, at a total price of 356 million
Monday, February 22, 2021
Chimcomplex, the biggest chemical producer in Romania, has launched the final stage of a public offering of shares aimed at raising RON 356 million (EUR 74 ...
iFactor raises EUR 700,000 on London-based crowdfunding platform Seedrs
Monday, February 22, 2021
iFactor, a Romanian fintech that aims to democratize SME lending, has raised close to EUR 700,000 in an equity crowdfunding campaign on the London-based equity crowdfunding platform Seedrs. The Romanian startup was aiming to get EUR 625,000 for 15.2% of its shares at a valuation of EUR 3.9 mln for the whole company. Romanian venture capital fund ROCA X, part of the local Impetum Group, led the financing ...
Constitutional Court (CCR) "legalized" tax evasion
Monday, February 22, 2021
Romania's Constitutional Court (CCR) rejected the objections against a draft law that will allow those responsible for tax evasion of up to EUR 100,000 to avoid jail and get away with a fine if they repay in full the damage before the court decides the ...
Introductory remarks at the “Corporate Liquidity and Solvency in the Covid-19 Pandemic: The Role of Policies”
Monday, February 15, 2021
Mugur Isarescu, NBR Governor As prepared for delivery Good morning Director Kammer and to everyone in Washington and good afternoon to our guests and speakers in Europe. Whether you are joining us from Bulgaria, Poland, Croatia or Romania, we are very happy to welcome you to this virtual discussion. The fact that you can be ...
Introductory Remarks at the “Corporate Liquidity and Solvency in the Covid-19 Pandemic: The Role of Policies” Virtual Conference National Bank of Romania & International Monetary Fund
Monday, February 15, 2021
By Alfred Kammer, Director of the European Department at the International Monetary Fund February 12, 2021 As prepared for delivery: Thank you for the introduction. It is a great honor to participate in this event, ...