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Financial & Banking

Tradesilvania becomes first crypto unicorn in Romania

Monday, May 29, 2023

Tradesilvania crypto platform reached in April a turnover of one billion euros in its first five years of activity, becoming the first crypto unicorn in Romania, according to a company press release.The volume was made exclusively from crypto services for Romanian and European clients, with the platform having been available to all European citizens since its launch in 2018."This is an important moment in the evolution of the company and for our team, being an ...

BNR: Banks should be concerned that green loans don't become non-performing

Monday, May 22, 2023


Banks should be concerned that the loans they provide to the green economy don't become non-performing, and a proper cost control should look not only at the turnover, but also at the project's long-term viability, National Bank of Romania (BNR) chief economist Valentin Lazea told the "Romania - Banking & Business" conference organized by Oxygen Events."The banks should no longer say: 'There is money in the green economy, we loan you because there is ...

Eleven banks fined a combined 550,000 RON for misleading commercial practices in installment calculation method

Monday, May 22, 2023

Eleven banks operating in Romania were found to apply misleading commercial practices in the installment calculation method, which is why the National Consumer Protection Authority (ANPC) fined them a combined 550,000 RON, and also ordered them to issue new repayment schedules, for the contractual balance to be restored, ANPC general director Paul Anghel ...

Sustaining the increase of labor productivity in Romania

Monday, May 22, 2023

  By Leonardo Badea, Deputy Governor of the National Bank of Romania   The numerous challenges and crises faced by the world’s economies in recent years require a sustained effort to consolidate, increase their robustness, and adapt to new conditions. Improved competitiveness is a vital component of sustainable economic development because it supports ...

Capital injections into Romanian insurance companies at 44 ml-plus euros in Q1

Monday, May 22, 2023

 Capital injections by foreign shareholders into Romanian insurance companies in Q1 totaled 44.099 million euros, shows National Trade Register Office data.In the same period of 2022, there were no share capital increases on the insurance market.Groupama Asigurari was the recipient of the largest capital infusion - 39.97 million euros this March, followed by Garanta Asigurari, with 2.118 million euros in February.Also, life ...

Omnicredit simplifies the financing process and integrates Smart Accounts

Monday, May 22, 2023

  Omnicredit, the first microfinancing, scoring, and factoring fintech platform, streamlines the financing process and integrates an account query service for new applications. Using Smart Accounts, the first open ...

BNR Board decisions on monetary policy

Monday, May 15, 2023

In its meeting of 10 May 2023, the Board of the National Bank of Romania (BNR) decided:   to keep the monetary policy rate at 7.00 percent per annum; to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum; to keep the existing levels of minimum reserve requirement ratios on both leu- and ...

BCR, successfully debuts on the international capital market

Monday, May 15, 2023


Banca Comerciala Romana (BCR)’s new bond issue marks the bank’s debut on the international capital markets and consists of 4NC3 senior non-preferred Eurobonds with a maturity of 4 years, with the possibility of early redemption after 3 years. The issue is to be listed on the Vienna and Bucharest Stock Exchanges, being also the first international green Eurobond issued by a Romanian bank. In addition, this issuance is part of BCR’s journey in the direction of the ESG ...

OTP Bank Romania records a profit after taxation of 15 million RON in Q1

Monday, May 15, 2023

OTP Bank Romania recorded a profit after taxation of 15 million RON in the first quarter of 2023, the level being influenced by the increase in operating expenses (+12%) and risk costs (+24%) compared to the last quarter of 2022, according to a press release of the bank.Compared to the first quarter of last year, operating expenses increased by 7% in the first three months of 2023, including an increase in the number of employees of 2.5% and an annual inflation rate of ...

Exim Banca Romaneasca launched on the banking market on Wednesday

Monday, May 15, 2023


Exim Banca Romaneasca is officially launched on Wednesday on the banking market as a top universal bank, 100% Romanian, with full services for individuals and legal entities."From today it becomes official the name change of EximBank to Exim Banca Româneasca, a top Romanian bank - the 8th position in the ranking of banks according to managed assets, a reliable banking partner for individuals and legal entities. Although we are changing our name, we remain consistent ...

Agricover Credit IFN accesses 20 million EUR from EFSE to finance Romanian farmers

Monday, May 15, 2023

Agricover Credit IFN is accessing 20 million EUR from the European Fund for Southeast Europe (EFSE) to finance Romanian farmers, the company announced on Wednesday."Agricover Credit IFN, an important player in the agricultural financing sector of Romania, is announcing new credit facilities from the EFSE, amounting to 10 million EUR, namely 49.2 million RON. The two loans are intended to finance micro, small and medium-sized enterprises (SMEs) and entrepreneurs and have ...

The local private capital and venture capital market, less developed than that of CEE

Monday, May 15, 2023

The Romanian private equity (PE) and venture capital (VC) market significantly lags behind Central and Easter Europe (CEE) and the entire European industry in terms of fundraising, with a total of EUR 128.2 million raised between 2018 and 2021, compared to EUR 7,288 million during the same period in CEE, according ...

Alpha Bank Romania Q1 2023 financial results highlights

Monday, May 15, 2023

  In the first quarter of the year, Alpha Bank Romania continued its strategy to support the local economy while maintaining a balanced financial performance based on sustained business activity: The net loan portfolio reached EUR 3.02 billion following a significant annual increase of almost 20% of loans granted to legal entities but also a good contribution from the individuals segment; Considering the ...

Banca Transilvania more than doubles net profit in Q1

Monday, May 15, 2023

Banca Transilvania [BSE:TLV] said that its net profit soared by 120% year-on-year in the first quarter of 2023, to 675.9 million lei ($151.3 million/137.2 million euro). The lender’s net interest income rose 27% on the year to 1.031 billion lei in the first three months of 2023, while its net fees and commissions income increased by an annual 15% to 251 million lei, Banca Transivania said in an unaudited first-quarter financial report filed with the Bucharest ...

Governor Isarescu: BNR has been constantly involved in OECD accession process since 2008

Monday, May 8, 2023

The National Bank of Romania has been constantly involved in the process of joining the Organization for Economic Co-operation and Development (OECD) since 2008, and in accordance with its legal mandate it has engaged in the development of the relationship with the OECD, the governor of the central bank (BNR), Mugur Isarescu, declared on Wednesday."The high-level participation that we enjoy today expresses the priority of the Romanian authorities from the ...

International reserves – April 2023

Monday, May 8, 2023

On 30 April 2023, the National Bank of Romania’s foreign exchange reserves stood at EUR 53,341 million, compared to EUR 53,229 million on 31 March 2023. During the month, the following flows were recorded: EUR 1,804 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with the NBR; inflows into the ...

Raiffeisen Bank Romania, net profit of 414 million RON in first quarter

Monday, May 8, 2023


Raiffeisen Bank Romania recorded a net profit of 414 million RON in the first quarter, a significant increase compared to the previous year, in the context of an intense lending activity for all business segments, the bank announced Friday in a press release.According to the source, the bank's revenues were up 28% year-on-year, supported mainly by the evolution of lending activity for corporate customers, as well as the upward trend in market rates compared ...

Metropolitan Life announces a 14% increase in gross written premiums in 2022

Monday, May 8, 2023

Metropolitan Life announces a 14% increase in gross premiums underwritten in 2022, compared to the previous year.   In 2022, Metropolitan Life’s gross written premiums recorded a significant increase, total up to 596.555.117 lei, compared to 523.571.824 lei registered in the same period of 2022.   “Metropolitan ...

OMRO IFN recorded a turnover increase of 51.8% in 2022

Monday, May 8, 2023

  OMRO, the financial institution for microfinancing small entrepreneurs, published on the Bucharest Stock Exchange regarding the company’s results for the previous year. The company’s turnover increased by 51.8% compared to 2021, following the evolution supported by investments, the diversification of the product portfolio, as well as the implementation of digitization projects. OMRO recorded a positive operational result of 1.7 million RON, an ...

OTP Bank Romania has started the Spring Campaign with zero costs for a lifetime

Monday, May 8, 2023

OTP Bank Romania announces the launch of the Spring Campaign with ZERO lifetime costs, through which both individuals and entrepreneurs benefit, between May 2nd and 14th, from the most attractive offers, with zero costs during the entire period of validity of the contracts signed within the campaign.   Thus, between 2nd and 14th of May, the new customers of OTP Bank which are applying online, can benefit from ...

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