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Financial & Banking
Vista Bank and Optima Bank arranged a syndicated loan of EUR 61 million for Premier Energy Group
Monday, August 5, 2024
The facility was arranged by Vista Bank and Optima Bank, both acting as joint Lenders, while Vista Bank also acted as Mandated Lead Arranger, Facility Agent, Security Agent, and Account Bank. The facility of €61 million will be used by Premier Renewable Invest Co. SRL to finance the acquisition of the shares in Eolica Dobrogea One SA member of Iberdrola Group. The target is to operate a wind park with 40 turbines and a total capacity of 80MW. Premier Renewable ...
Romania gets EIB support for world’s first zero-emissions tyre factory with loan to Nokian Tyres
Monday, August 5, 2024
· Romania receives EIB backing to become home to the world’s first tyre-production plant with no carbon-dioxide emissions. · EIB lends Nokian Tyres €150 million to build green factory in northwestern Romanian city of Oradea. · Manufacturing site to begin operations in early 2025 and reach full capacity in 2027. The European Investment Bank (EIB) is lending Nokian Tyres ...
One million RON for non-refundable financing contracts with NGOs, from Bucharest City Hall
Monday, August 5, 2024
The General Council of the Municipality of Bucharest (CGMB) approved, on Wednesday, the allocation of one million RON for non-refundable financing contracts with seven non-governmental organizations declared eligible.The decision approved in this regard foresees the conclusion of non-refundable financing contracts from the local budget of the Municipality of Bucharest through the budget of the General Directorate of Social Assistance for non-profit activities of local ...
Raiffeisen Bank Romania posts RON 820 million in H1 2024 net profit
Monday, August 5, 2024
Raiffeisen Bank Romania reported a net profit of RON 820 million for the first six months of 2024, down 6% year-on-year, the bank announced on Tuesday."In the first half of the year, we systematically continued to accelerate financial planning services to support our clients in building a better future. We launched MoonShotX, a project that facilitates the expansion of businesses in Romania at regional level. We introduced a new card that combines digital payment services ...
Banca Transilvania acquired OTP Bank Romania
Monday, August 5, 2024
Banca Transilvania (BT) acquired OTP Bank Romania on Tuesday, as well as the other OTP Group subsidiaries in Romania, according to an announcement made on Tuesday by BT. The transaction recently received the approval of the Competition Council and the National Bank of Romania. The acquisition of one of the subsidiaries, OTP Asset Management, is in the stage of approval by the authorities. The first step was taken in February 2024, when BT ...
Alpha Bank Romania posts H1 net profit of EUR 23 ml
Monday, August 5, 2024
Alpha Bank Romania posted EUR 23 million in H1 net profit, and its total assets were 6 percent up from the same period of the previous year, topping EUR 4.6 billion, the bank said in a statement.Net loans to customers were 9 percent up year-over-year to EUR 3.3 billion, and customer deposits stood at EUR 3.5 billion, 15 percent higher from the year-ago period.According to the bank, new mortgage loans saw a historic 87 percent increase compared to H1 2023, ...
Mandatory private pension funds' assets worth 143.3 billion RON in June
Monday, August 5, 2024
Mandatory private pension funds had assets worth 143.3 billion RON, at the end of June 2024, up 30.2% compared to the level recorded on the same date in 2023, according to the statistics of the Financial Supervisory Authority (ASF)."The investments of privately managed pension funds were made in a percentage of 94.2% in Romanian assets, most of them being denominated in lei. A large part of the Romanian instruments are represented by government securities or shares listed ...
Mugur Isarescu, NBR Governor: Opening speech at the 10th edition of the Annual Scientific Conference of the Romanian Academic Economists from Abroad (ERMAS)
Monday, July 29, 2024
Distinguished audience,Ladies and gentlemen, The Board of the National Bank of Romania (NBR) is the proud supporter and keen organizer of this prestigious academic conference, today, at its 10th anniversary. I express the heart-felt congratulations to our organizing partners, Babes-Bolyai University and ERMAS Association, for the professionalism and the rich program of this ...
Monetary indicators – June 2024
Monday, July 29, 2024
At end-June 2024, broad money (M3) amounted to RON 684,822.8 million, down 0.7 percent (-1.0 percent în real terms) month on month. In year-on-year comparison, broad money rose by 9.7 percent (4.5 percent in real terms). At end-June ...
Stability and growth pact: Council launches excessive deficit procedures against seven member states, including Romania
Monday, July 29, 2024
Friday, July 26, the Council adopted decisions establishing the existence of excessive deficits for Belgium, France, Italy, Hungary, Malta, Poland and Slovakia, https://www.consilium.europa.eu/ informs. In ...
UniCredit's net profit in Romania grows 39% in H1
Monday, July 29, 2024
Italy's UniCredit Group said its consolidated net profit from operations in Romania rose 38.9% year-on-year to 190 million euro ($206.2 million) in the first six months of 2024. The lender's pre-tax profit in Romania climbed by an annual 41.2% to 233 million euro in the year's first half, UniCredit Group said in an interim financial statement on Wednesday. Net operating profit jumped by an annual 42.3% ...
Taxes' collection plan six months into 2024 exceeded, with 100.6% degree of achievement
Monday, July 29, 2024
The National Tax Administration Agency (ANAF) exceeded its collection plan in the first six months of 2024, and compared to the plan assumed at the beginning of the year, the surplus of budget revenue collections is 1.2 billion RON, the minister of Finance, Marcel Bolos, announced on last Wednesday.The data for the first semester of 2024 show total receipts of 218.5 billion RON, up 17.8%, 33.04 billion RON more than in the similar period of ...
Garanti BBVA Leasing takes out EUR 10m from EBRD to support SME development
Monday, July 29, 2024
Garanti BBVA Leasing has signed a new EUR 10 million loan agreement with the European Bank for Reconstruction and Development (EBRD) to support the development of SMEs in Romania.According to a Garanti BBVA Leasing press statement on Monday, the company will use the loan to finance new leases for SMEs for capital expenditure, enabling them to access equipment and vehicles.Moreover, under this new agreement, at least 30%of the loan proceeds will ...
New Chief Risk Officer Of BCR Leasing
Monday, July 29, 2024
BCR Leasing announces the appointment of Magda Turiac as Chief Risk Officer (CRO). Thus, starting from July 1, 2024, the executive management of BCR Leasing is ensured by Vlad Vitcu – CEO, Magda Turiac – CRO and Adrian Melinte – CFO. Maria Magdalena Turiac brings to the team over 15 years of experience in the financial-banking field, with extensive expertise in risk management. In recent years, she held ...
Granit Bank, owned by Viktor Orban’s son-in-law, expands to Romania
Monday, July 29, 2024
Granit Bank, a Hungarian financial institution whose main shareholder is Viktor Orban’s son-in-law, will start operating in Romania starting this year. It is the first time that the digital bank is entering a foreign market. Granit Bank will make available to customers accounts in lei and forints through an application in Romanian, Hungarian and English. Granit Bank will ...
ASF Report: Insurance companies paid gross compensations of 2.6 billion lei in quarter one
Monday, July 29, 2024
The total value of gross compensations paid by insurance companies (subsidies included) exceeded 2.6 billion lei, in the first three months of 2024, of which 80% represent gross compensations paid for the activity of general insurance, while 20% were for life insurance, according to the evolution of the insurance market in Romania released ...
Minutes of the monetary policy meeting of the National Bank of Romania Board on 5 July 2024
Monday, July 22, 2024
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; Leonardo Badea, Board member and Deputy Governor of the National Bank of Romania; Eugen ...
Balance of payments and external debt – May 2024
Monday, July 22, 2024
In January – May 2024p, the balance-of-payments current account posted a deficit of EUR 9,175 million, compared with EUR 6,879 million in January – May 2023. The breakdown shows that the deficit on trade in goods widened by EUR 1,428 million, the surplus on services fell by EUR 710 million, the primary income deficit increased by EUR 714 million, while the secondary income surplus grew by EUR 556 ...
New law mandates card payments in Romania: How do myPOS payment solutions help Romanian businesses?
Monday, July 22, 2024
All merchants, authorized individuals and legal entities, are now obliged to accept electronic payments under Law 406/2023 which amends GEO 193/2002. The unique feature of myPOS solutions offers merchants the benefit of instant settlement of funds within seconds at no additional cost, allowing them to use their money ...
EBRD backs leading Romanian tech firm in €38 million offering
Monday, July 22, 2024
EBRD makes minority equity investment in AROBS Transilvania Software S.A. EBRD investment is part of larger share offering of €38 million (RON 189.3 million) Aim is to support the company pursue its regional growth ...