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Financial & Banking

EBRD backs car parts maker Faurecia in four countries, including Romania

Monday, January 17, 2022

The European Bank for Reconstruction and Development (EBRD) confirmed it is investing up to EUR 80 mln in a six-year bond ESG issue by French auto parts maker Faurecia to back investments in Romania and three other countries by 2026.   The financing will be used exclusively to support Faurecia's 2022-2026 investments in Morocco, Poland, Romania and Tunisia. These include R&D for electric vehicles and renewable energy ...

CEC bank disburses EUR 127 mln in dividends to Romanian Govt

Monday, January 17, 2022

Romanian state-owned CEC Bank disbursed last week dividends of RON 634.3 mln (EUR 127 mln) for the financial years 2019 and 2020 to its shareholder, the Ministry of Public Finance.   The bank distributed over 85% of its net profit attributable to shareholders - having one of the highest dividend payout ratios on the market.   "We have ...

BNR: International reserves – December 2021

Monday, January 10, 2022

On 31 December 2021, the National Bank of Romania - BNR’s foreign exchange reserves stood at EUR 40,475 million, compared to EUR 39,283 million on 30 November 2021.   During the month, the following flows were recorded: EUR 5,023 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves ...

Bucharest Stock Exchange wins 5.28 billion RON from capitalization in first week of 2022

Monday, January 10, 2022

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The Bucharest Stock Exchange (BVB) won 5.28 billion RON from the capitalization, 2.3 pct respectively, in the first week of 2022, and the value of the transactions with shares registered a decrease of 12 pct, compared to the previous week, according to the data published by BVB.The market capitalization reached 234.363 billion RON in the period 3 - 7 January 2022, from 229.078 billion RON recorded in the week of 27 - 31 December 2021.The transactions ...

Green banking exposure at end of June 2021 reaches 5.1 billion RON

Monday, January 10, 2022

The green banking exposure increased starting with June 2015, up to 5.1 billion RON, at the end of June 2021, amounting to 4 pct of the total exposures to the non-financial sector, according to the data published by the National Bank of Romania (BNR)."The strong expansion (320 pct compared to the beginning of the period) of green exposures shows an increasing appetite of banks for green lending and for supporting the transition to a low-carbon economy," is ...

Optional pension funds, assets worth 3.28 billion lei on November 30, up 15pct

Monday, January 10, 2022

Optional pension funds had assets worth 3.28 billion lei, as of November 30, 2021, up 15pct compared to the same date last year, according to a report of the Financial Supervisory Authority (ASF)."Most of the investments were made locally (91pct), most of them denominated in lei (89pct)," the report states.Government securities had the highest share of assets, of 2.003 billion lei, respectively 61.11pct. On the second place were the shares, with ...

Mandatory private pension funds have assets worth 85.98 billion lei in November, up 18%

Monday, January 10, 2022

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Mandatory private pension funds had assets worth 85.98 billion lei at the end of November 2021, up 18% from the level recorded on November 30, 2020, according to the Financial Supervisory Authority (ASF)."The investments of privately managed pension funds were 87% focused on Romanian assets, most of them denominated in lei. A large part of the Romanian instruments are represented by government securities or shares listed on the Bucharest stock exchange," the ...

Crypto in 2022: volatility levels and potential future

Monday, January 10, 2022

With Bitcoin having experienced a huge year that provided a number of twists and turns throughout 2021, there will be many questioning what 2022 can offer cryptocurrency and the entire industry over the course of the next 12 months.   As everyone will already know, crypto is incredibly volatile, thus making it extremely hard and difficult to predict what may happen over a ...

Feza Tan is the new first executive Vice President of UniCredit Bank

Monday, January 10, 2022

Feza Tan began her term as First Executive Vice President and a member of the Board of Directors of UniCredit Bank following the green light of the National Bank of Romania.Feza Tan has a career of almost 30 years in the banking system and an important managerial experience, holding the position of CEO of UniCredit Bank Serbia since 2018.   “I am honored to take over the mandate of First ...

One United Properties shares liquidity to be enhanced by Raiffeisen Centrobank

Monday, January 10, 2022

One United Properties (ONE), a real estate developer of premium residential projects in Romania, will benefit as of January 3, 2022, from ...

Labour Ministry to contract technical assistance services from World Bank to reform pension system

Monday, January 3, 2022

The Ministry of Labour will contract technical assistance services from the World Bank to implement the reform of the public pension system as provided in the National Recovery and Resilience Plan (PNRR), according to a memorandum approved by the Government on Tuesday."A memorandum initiated by the Ministry of Labour has been approved. It is part of the commitments made under the PNRR and, based on this approval of the memorandum in the Government, the Ministry of ...

BRD grants financing of over 2 billion lei since start of IMM Invest program

Monday, January 3, 2022

 BRD has granted financing of over 2 billion lei, since the start of the IMM Invest program, the largest part of it going towards constructions, trade, agriculture and transport area, Francois Bloch, CEO of BRD Groupe Societe Generale declared in an interview for Agerpres.Asked if banks have funds to carry out new financing programs in the near future, he said that PNRR (Romania's National Recovery and Resilience plan) is a strategic plan, which can change ...

EY Report: 2021 was the most active year for the IPO market over the past 20 years

Monday, January 3, 2022

In the face of the uncertain environment that 2021 promised, the global IPO market had an exceptional year, breaking records by IPO volume and proceeds consistently into the fourth quarter. In the last quarter, the winds shifted with the surfacing of the COVID-19 omicron variant, continuing geopolitical tensions and increased market volatility. Overall, 2021 saw a total of 2,388 deals raising US$453.3b in proceeds, a 64% and 67% respective increase YOY. ...

BSTDB provides new EUR 40 million facility to Garanti BBVA to strengthen SME resilience and post-pandemic recovery

Monday, January 3, 2022

The Black Sea Trade and Development Bank (BSTDB) is providing EUR 40 million SME Facility to Garanti BBVA Romania to expand support for small and medium-sized enterprises (SMEs) in the country and help them sustain their business under the challenging conditions caused by the coronavirus pandemic.   The BSTDB’s five-year loan will fuel the investment programmes and working capital needs of industrial, ...

EBRD lends Romanian city of Timisoara €20.3 million to improve city tram transport

Monday, January 3, 2022

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Timisoara becomes 53rd member of EBRD Green Cities urban sustainability programme European Union will provide €53.6 million grant for €87.2 million infrastructure programme   The European Bank for Reconstruction and Development ...

Fitch upgrades Romanian UniCredit Bank two notches up to BBB/stable

Monday, January 3, 2022

International rating agency Fitch has upgraded the Long-Term Issuer Default Rating (IDR) of UniCredit Bank Romania (UCBRO) to BBB from BB+, with a stable outlook, and its short-term individual default rating (IDR) to F2, from B. The viability rating (VR) has been affirmed at bb.   The two-notch upgrade of UCBRO's IDRs reflects the upgrade of its parent UniCredit S.p.A on 17 December 2021 and Fitch's ...

EBRD €5 million loan to finance Aquila’s brand expansion and corporate digitalisation

Monday, January 3, 2022

Loan will also help company meet working capital and capital expenditure needs Newly listed Aquila to further strengthen its corporate governance   The European Bank for Reconstruction and Development (EBRD) is providing a €5 million loan to Aquila ...

Euroins, fined by Financial Supervisory watchdog with over 5.8 million RON

Monday, January 3, 2022

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The Financial Supervisory Authority (ASF) sanctioned Euroins Romania Insurance - Reinsurance, after a verification that took place during the period of May-October 2021, with a total fine of 5.86 million RON and imposed the company measures to remedy the identified deficiencies.According to the legal provisions, within two months since the decision was received, the Euroins Romania Insurance - Reinsurance will send to ASF for approval a plan for recovery, with ...

OTP Bank Romania increases the share capital for the second time în 2021

Monday, January 3, 2022

OTP Bank Romania announces it´s second share capital increase în 2021, this time with more than 200 million lei.   OTP Bank reports a steady increase in lending and saving activities for the main business lines, at the same time with the execution of the Apollo growth ...

EBRD, EU back maib in boosting financing for Moldovan firms

Monday, January 3, 2022

Moldovan firms to benefit from greater access to finance EBRD extends unfunded risk-sharing framework of up to €20 million to maib Additional €5 million loan, backed by EU, for on lending to ...

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