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Financial & Banking
The Banker: UniCredit, the ‘Bank of the Year’ in Romania
Monday, December 11, 2017
UniCredit received from The Banker the ‘Bank of the Year’ award in Romania, Bosnia Herzegovina and Germany, a press release informs quoted by romaniajournal.ro. “These prestigious awards reconfirm the Group’s achievements and the effort of the people throughout the organization. It would not have been possible without the involvement of our employees and without the loyalty of our customers, and we will ...
Operational leasing market has exceeded 66,000 units in management at the end of Q3 of 2017
Monday, December 4, 2017
The operational leasing market has exceeded 66,000 units in management at the end of the 2017 third quarter, thus generating a 11 pct increase, Y-o-Y, informs a press release of the Association of Operational Leasing Companies (ASLO) sent on Wednesday. January through September of the same year, approximately 13,000 new vehicles were registered by operational leasing companies, representing a 15 pct share of the overall number of new registrations (90,959 cars and light ...
Romania ranks 42nd in the PwC Paying Taxes 2018 global index
Monday, December 4, 2017
Romania climbed 8 ranks, up to the 42nd place in the PwC Paying Taxes 2018 global index, which measures the ease of paying taxes for a typical company in 190 countries around the world, business-review.eu reads. “This is the best ranking of Romania since PwC started measuring the Paying Taxes index, which highlights the progress made by Romania in recent years, by facilitating the online tax payments and by decreasing the total tax burden. Basically, Romania has now ...
Fitch: CEE Bank Outlooks Stable, Helped by Economic Momentum
Monday, December 4, 2017
The banking sector outlooks in central and eastern Europe (CEE) in 2018 are stable, helped by solid economic momentum and wage growth, low unemployment, acceleration in EU fund disbursements and a growth upswing among eurozone trading partners, Fitch Ratings says în a statement. We expect a marginal improvement in overall profitability, particularly in the Czech Republic, Poland and Romania. Funding, asset quality and capitalisation metrics should remain healthy.We ...
VIG's 9-mo pre-tax profit in Romania rises despite lower premiums
Monday, December 4, 2017
The Vienna Insurance Group (VIG) said on Wednesday its profit before tax from operations in Romania has increased by an annual 39.0% to 8.9 million euro ($10.5 million) in the first nine months of 2017, despite a drop in total gross written premiums, seenews.com informs. VIG's total gross written premiums in Romania fell by 4.7% year-on-year to 373.4 million euro in the January-September period, VIG said in an interim financial statement. Motor third party liability (MTPL) ...
Number of bad-payers increases in Romania as repayments of over 670,000 Romanians to banks, NBFIs in arrears
Monday, December 4, 2017
The number of bad-payers in Romania is on the increase, as the repayments of over 670,000 Romanians to banks and non-banking financial institutions (NBFIs) are in arrears, with the number increasing from one month to the next. According to a special analysis, over 100,000 debtors were monitored on the Internet in November, and the repayments to banks and NBFIs of more than 670,000 Romanians were found in arrears, increasing on a monthly basis. Amidst a strong appreciation of ...
ING closes private banking division in Bucharest
Monday, December 4, 2017
Dutch group ING will close down its private banking division in Bucharest from January 1 next year, reports local Ziarul Financiar, romania-insider.com ...
Romania’s Banca Transilvania moves into Moldova
Monday, December 4, 2017
Moldova’s crisis-hit banking sector moved a step closer to recovery with the announcement in November that Romania’s Banca Transilvania has agreed to take over troubled lender Victoriabank. News of the acquisition, which will be the first by a foreign bank in Moldova since 2007, came almost exactly three years after $1 billion was stolen from three of the country’s leading banks in as many days. The resultant bailout cost more than 10% of ...
Overall value of overdue loans in lei of households and companies declined by 2.3 percent in October 2017
Monday, December 4, 2017
The overall value of overdue loans in lei of households and companies, recorded in October 2017, stands at 5.513 billion lei, declining by 2.3 percent compared to the amount reported in September, and the overdue loans in foreign currencies slightly went up by 0.11 percent to 6.909 billion lei (equivalent), according to a report of the National Bank of Romania (BNR). The overall loans in lei amounted to 143.93 billion lei in October (a value by 0.6 percent over the value of ...
Dochia: Romania started on a trend of accelerated growth of the deficit: in 2018 inevitably we surpass 3% of GDP
Monday, November 27, 2017
Romania has as objective to reach a deficit of 1.5% of GDP on a medium and long term but it started on a trend of accelerated growth, stated the economist Aurelian Dochia. According to him, the reduction of the deficit will be difficult to make next year. ‘We have the objective to reach a level of 1.5% of deficit from the GDP on medium and long term and starting last year and during this year we have started a ...
BNR: Company sector in Romania is not developed enough reported to local market dimensions
Monday, November 27, 2017
The company sector in Romania is not developed enough reported to the dimensions of the local market and compared to the other former socialist European countries, shows a presentation made by Florin Georgescu, the deputy governor of the National Bank of ROmania. According to him, there are 2,2 small companies per 100 people in Romania, while the EU average is 4.5 companies. In the Czech Republic there are 9.4, in Slovakia 7.5, Slovenia 6.4, ...
Vice President of EIB: Situation of the infrastructure in Romania is not caused by a funding problem, but rather by a lack of viable, well-planned public projects
Monday, November 27, 2017
The situation of the infrastructure in Romania is not caused by a funding problem, but rather by a lack of viable, well-planned public projects, says in an interview with AGERPRES the Vice President of the European Investments Bank, Andrew McDowell. Moreover, the EIB official says that other important factors include the development of the planning and projects' implementation capacity, as well as an efficient control of fraud and ...
Banca Transilvania reaches agreement with Eurobank Ergasias to take over Bancpost
Monday, November 27, 2017
Banca Transilvania (BT) will buy from Eurobank Group the shares it holds in Bancpost S.A., ERB Retail Services IFN S.A. and ERB Leasing IFN S.A., with the two banks having reached an agreement in this respect, according to a BT release issued on Friday. "The takeover of Bancpost is an opportunity for BT due to the integration potential with our business. This acquisition completes BT's organic growth strategy, consolidating our position on the market. ...
Balance of the non-government loans granted by credit institutions increased in October by 0.3 pct
Monday, November 27, 2017
The balance of the non-government loans granted by credit institutions increased in October by 0.3 pct (-0.9 pct in real terms) as compared to the previous month, to 233.478 billion lei (rd EUR 50.756 bln), a press release of the National Bank of Romania (BNR) informs. According to the release, the credit in lei increased by 0.6 pct (-0.6 pct in real terms) while the foreign currency-denominated loans expressed in lei decreased by 0.2 pct (expressed in euro, ...
BNR: deposits of non-governmental clients rose by 1.7% in October 2017
Monday, November 27, 2017
The deposits of non-governmental clients rose by 1.7% in October 2017 compared to September 2017, up to the level of 291.158 billion lei, according to the data made public on Friday by the National Bank of Romania (BNR). Retail deposits in lei increased by 0.6%, to 108.181 billion lei. On October 31, 2017, the retail deposits in lei saw a rise of 10.8% (7.9% in real terms) from October 31, 2016. The BNR's statistics show that the ...
M3 money supply growth accelerates in Oct
Monday, November 27, 2017
Romania's M3, the broadest gauge of the country's money supply, grew by a nominal 13.6% year-on-year to 336.9 billion lei ($85.7 billion/72.4 billion euro) in October, compared to a 12.3% rise in September, the central bank, BNR, said on Friday, seenews.com informs. On a monthly comparison basis, Romania's M3 money supply increased by 1.3% in October, BNR said in a statement. In real terms, October M3 money supply was 10.7% ...
NGOs Fear Pressure as New Bill Passes Senate
Monday, November 27, 2017
Romanian NGOs are anticipating heightened political pressure after a ruling Social Democrat Party-backed bill that obliges them to declare their donors twice a year passed the Senate, balkaninsight.com reports. A bill submitted by Romania’s ruling Social Democrat Party, PSD, requires non-governmental organizations to declare their sources of funding every six months or face dissolution, causing great concern among civic activists and ...
BVB: Market value of 88 companies listed on the main market exchange was 165 billion lei this year
Monday, November 27, 2017
At present, BVB transactions an average 36.7 million shares issued by 88 companies listed on the main segment. The market value of the 88 companies listed at BVB was 165 billion lei (about 35.5 billion euros) this year, BVB announced. “This year there have been 222 transaction meetings, in which 730,000 transactions with 8.15 billion shares were made, with a total value of over 8.15 billion shares, with cumulated values of 10.8 ...
Financial leasing industry recorded a 14% increase in the first nine months of 2017
Monday, November 27, 2017
The financial leasing industry recorded a 14% increase in the financed assets in the first nine months of this year, 7.627 billion lei (1.7 billion euros) respectively, said on Tuesday Bogdan Speteanu, President of the Association of Financial Companies - ALB Romania. "The positive news is that the upward trend we have seen in recent years has continued, and if we look at the year-on-year trend, September 2016 - September 2017, we see a 14% increase that ...
Libra Internet Bank made a net profit of 42.43 ml lei Q3 of 2017
Monday, November 27, 2017
Libra Internet Bank made a three-quarter net profit of 42.43 ml lei, posting particularly good financial results in Q3, the bank said in a release."We keep on growing and at the same time succeed in making a significant profit. We thank our customers for their confidence and promise to always live up to their expectations," said Libra Internet Bank CEO Emil Bituleanu. The bank's total assets in the first nine months of the year reached a total of ...