Financial & Banking
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 ...
Chairman Of Intesa Sanpaolo Board Of Directors Welcomes The First Bank Team
Monday, July 22, 2024
Gian Maria Gros-Pietro, Chairman of the Board of Directors of the Intesa Sanpaolo Group, and Paola Papanicolaou, Chief of the Group’s International Subsidiary Banks Division, accompanied by members of the Group’s management, recently paid a two-day visit to Romania. Intesa Sanpaolo, a leading European banking Group, already present in the country through Intesa Sanpaolo Bank Romania, ...
Listing of companies on local capital market represents important factor for stability of Romanian economy
Monday, July 22, 2024
The listing of companies on the Bucharest Stock Exchange (BVB) represents an extremely important factor for the consolidation and development of the local capital market, but also for the stability of the Romanian economy, according to a press release from the Financial Supervisory Authority (ASF).ASF reminds, in the context, that it is running an extensive process of modernization of the regulatory framework, which will lead to the consolidation of the role ...
Competition Council authorizes takeover of OTP group from Romania by Banca Transilvania
Monday, July 22, 2024
The Competition Council authorized the transaction by which Banca Transilvania intends to take over the companies OTP Bank Romania, OTP Leasing Romania IFN, OTP Asset Management Romania SAI, OTP Factoring and its subsidiaries - OTP Consulting Romania, OTP Advisors and Fundatia OTP Bank Romania.Banca Transilvania is the main company of the Banca Transilvania Financial Group, which offers financial services in Romania, such as banking services, investment ...
Hidroelectrica celebrates 1 year since historic 2023 stock listing
Monday, July 15, 2024
Hidroelectrica (H2O), leader in the production of electricity and the main provider of technological services needed in the National Energy System, today celebrates one year since its historic listing in 2023 on the Bucharest Stock Exchange (BVB). On July 12, 2023, H20 shares started trading following the successful conclusion of the largest initial public offering (IPO) ever made at the BSE in an ...
Eurohold announces arbitration ruling confirming legality, enforceability of EIG Re - Euroins Romania reinsurance contract
Monday, July 15, 2024
The International Court of Arbitration has ruled to confirm the legality and enforceability of the reinsurance contract between Bulgarian non-life insurance company EIG Re, a subsidiary of Eurohold Group, and Euroins Romania, Eurohold said in a release on Tuesday, explaining that the management of Euroins Insurance Group continues its due process of defending the interest of all stakeholders and policyholders."On July, 2 2024, the International ...