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Financial & Banking
Vista Bank supports green investments: financing of €13.9 million to Alive Wind Power One
Monday, April 29, 2024
Vista Bank Romania granted to the company Alive Wind Power One, part of the Premier Energy PLC Group, an investment loan in the amount of 13.9 million euros. The purpose of the facility is to finance the purchase of a wind power park located in Drânceni (Vaslui county) with a total installed power of up to 18 MW. Georgios Athanasopoulos, CEO Vista Bank, said on the occasion of the signing: “We are glad to grant this credit facility to Alive Wind Power ...
The Joint Initiative on Circular Economy to provide €16 billion to circular projects by 2025
Monday, April 29, 2024
At the World Circular Economy Forum 2024, the European Union’s largest public promotional banks and institutions — Bank Gospodarstwa Krajowego (BGK — Poland), Caisse des Dépôts Group (CDC — France), including Bpifrance, the French national investment bank, Cassa Depositi e Prestiti (CDP — Italy), Instituto de Crédito Oficial (ICO — Spain) and KfW (Germany) — and the European Investment Bank (EIB) announced that they had exceeded ...
Bucharest Stock Exchange launches the new edition of the program dedicated to Romanian entrepreneurial companies
Monday, April 29, 2024
Bucharest Stock Exchange launched a new edition of the program dedicated to promoting Romanian entrepreneurial companies, which will be called BVB Arena from this year onwards. The transformation that the program undergoes reinforces the mission of Bucharest Stock Exchange to position itself as the main financing channel for Romanian companies and to promote companies that contribute to the development of the local economy All details about the BVB Arena and ...
Kearney Retail Banking Radar 2024: Retail bank cost-income ratio drops in 2023 and profit per customer rises
Monday, April 29, 2024
Leading global consultancy Kearney has released the sixteenth edition of its annual ...
Vienna Insurance Group confirms highly successful 2023 financial year
Monday, April 29, 2024
In its reports covering the 2023 financial year, published today, Vienna Insurance Group (VIG) has confirmed its preliminary figures communicated on 12 March 2024: strong growth across all segments and lines of business, considerable profit growth and a clear positioning as the number one in the CEE region. As a group that comprises more than 50 insurance companies and pension funds across 30 countries, VIG counts on local ...
tbi bank doubles the limit for interest-free instalment payments to 2,000 lei for Easter in the tbi app
Monday, April 29, 2024
tbi bank, one of the leading challenger banks in South East Europe, stays close to its customers during the Easter holidays with flexible payment solutions and doubles the maximum amount that can be used for shopping with payment in 4 interest-free installments via the mobile shopping app. Until 12 May, customers can make purchases worth up to 2,000 lei from more than 1,500 online shops present in the app, in a simple and fast experience, which they can pay ...
NN Romania Sets Guinness Record for Largest Human Umbrella Image, Symbolizing Customer Financial Protection
Monday, April 29, 2024
NN Romania has achieved the GUINNESS WORLD RECORDS title for the largest human image of an umbrella. The record symbolizes NN's care for people's financial protection and its efforts for a better future through life, health or home insurance and mandatory and voluntary private pensions. "Through everything we do, at NN we have the power to change lives. We offer people solutions for protection in unexpected situations and a better financial future, ...
Minutes of the monetary policy meeting of the National Bank of Romania Board on 4 April 2024
Monday, April 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; 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 Romania; Eugen Nicolaescu, Board member and Deputy Governor of the National Bank of Romania; ...
Over 1 billion euros invested in Romania by EBRD over past 30 years
Monday, April 22, 2024
Romania has used funds from the European Bank for Reconstruction and Development (EBRD) of more than one billion euros for investments over the last 30 years, and the amount could reach up to 7 billion euros, Victoria Zinchuk, EBRD director for Romania, said on Thursday at the 7th edition of the Critical Infrastructure Protection Forum (CIP Forum), as part of the Digital Innovation Summit Bucharest (DISB) 2024.The EBRD has so far provided the largest amount ...
Romanians registered on crypto-asset platforms, two to three times more than investors on Bucharest Stock Exchange
Monday, April 22, 2024
Romanians registered on crypto-asset platforms are two to three times more than the 178,000 investors registered on the Bucharest Stock Exchange, Alexandru Petrescu, president of the Financial Supervisory Authority (ASF), said on Wednesday at the 7th edition of the Critical Infrastructure Protection Forum (CIP Forum), part of Digital Innovation Summit Bucharest (DISB) 2024."This phenomenon is also recorded in other countries. I used to have discussions with ...
Revolut releases in Romania its first ever loan refinancing solution
Monday, April 22, 2024
Digital bank Revolut on Wednesday released a loan refinancing solution, for the first time globally, on the Romanian market.The first Romanian clients have already been invited by the digital bank to apply for the unsecured personal loan with refinancing.The lending products are offered by Revolut Bank, an entity licensed in Lithuania that carries out banking operations in the European Economic Area (EEA).At the same time, to mark ...
NBFIs In Romania Hit Record High Loan Grants In 2023
Monday, April 22, 2024
The amount of loans granted by non-banking financial institutions (NBFIs) in Romania reached a record level of almost lei 50 billion in 2023, after an annual advance of 13,9%, according to the latest KeysFin analysis. NBFIs mainly lend to non-financial companies, with 78% of the total portfolio, and an annual advance of 17%, while loans to households represented 21% of the total and increased in 2023 by only 5% compared to the ...
IMF Forecasts Weaker Economic Growth For Romania
Monday, April 22, 2024
The International Monetary Fund (IMF) has downgraded its growth projections for the Romanian economy this year. The latest “World Economic Outlook” report from the IMF revises the estimate from 3.8% in October to 2.8% According to the IMF’s new forecasts, after an advance of 2.1% last year, the economy will grow to 2.8% this year, accelerating to 3.6% in 2025. In October, the IMF estimated an ...
Alpha Bank to expand further in Romania
Monday, April 22, 2024
Alpha Bank chief executive officer Vassilis Psaltis pointed to further expansion and acquisitions in Romania in a joint interview with CEO of Italian bank UniCredit, Andrea Orcel for Bloomberg quoted by https://www.ekathimerini.com/, The two CEOs, who have created the third-largest bank in Romania, said they believe in Romania’s prospects and see plenty of value ...
BNR: Balance of payments and external debt – February 2024
Monday, April 15, 2024
According to the National Bank of Romania (BNR) data, in January – February 2024p, the balance-of-payments current account posted a deficit of EUR 2,707 million, compared with EUR 2,171 million in January – February 2023. The breakdown shows that the deficit on trade in goods declined by EUR 39 million, the surplus on services fell by EUR 456 million, the primary income deficit increased by EUR 516 million, while the secondary income registered a surplus of ...
Daianu:Fiscal consolidation process will be painful, it is desirable to be carried out fairly
Monday, April 15, 2024
Fiscal consolidation will be a painful process and it is desirable to conduct it fairly, said on Tuesday the chairman of the Fiscal Council, Daniel Daianu, who warned that the "bulk" of the adjustment cannot be achieved on the expenditure side."Let's not delude ourselves with the anecdotal: there are 15 workers at a town hall, in fact there should be only four... That's anecdotal. Of course, municipalities can do something in the local environment, schemes can be greatly ...
Salt Bank makes digital debut in Romania powered by Starling Bank’s BaaS
Monday, April 15, 2024
Salt Bank has become Romania’s newest digital challenger with the launch of its app-based offering this month, https://www.fintechfutures.com/ informs. The Bucharest-based challenger, which operates as a subsidiary of Banca Transilvania Financial Group, has debuted its retail banking services including 3% current accounts with digital wallet compatibility, mixed term deposits, a multicurrency card ...
Romania International Remittance Business Analysis Report 2024
Monday, April 15, 2024
The "Romania International ...
Fitch Affirms Romanian City of Bucharest at 'BBB-'; Outlook Stable
Monday, April 15, 2024
Fitch Ratings has affirmed the Romanian City of Bucharest's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-' with Stable Outlooks. The affirmation reflects Fitch's unchanged view that the city's operating performance and debt ratios will remain in line with peers', with 'aa' debt sustainability over the medium term. This is despite pressures on its budget stemming from still high inflation ...
Iohannis: 2023 statistics show that 30% of Romanians fall within minimum level of financial literacy
Monday, April 15, 2024
Statistics from 2023 show that 30% of Romanians fall within the minimum level of financial literacy, which is not the direct consequence of recent developments, but the effect in time of financial training deficits, according to a speech by President Klaus Iohannis delivered at the second edition of the Financial Education Forum on the digital safety of users of financial products and services."The complexity of financial services in the context of new technologies ...