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Financial & Banking
CEC Bank Financial Group: Preliminary financial results for 2024
Monday, April 14, 2025
CEC Group reports a net profit of 687.9 million lei for 2024. The group continued to consolidate its market position and recorded an increase in net assets to 99.33 billion lei – up 19% compared to the same period of the last year. The Group’s net assets increased by 19% compared to the same period last year, from 83.61 billion lei to 99.33 billion lei. In the case of the Bank, net assets increased from 83.55 billion lei to ...
International reserves – March 2025
Monday, April 7, 2025
In 31 March 2025, the National Bank of Romania’s foreign exchange reserves stood at EUR 61,993 million, compared to EUR 62,593 million on 28 February 2025. During the month, the following flows were recorded: EUR 2,336 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with the NBR; inflows into the Ministry of ...
Central bank Governor Isarescu: A financially educated society becomes more resilient
Monday, April 7, 2025
The National Bank of Romania and the Bucharest School of Economics (ASE) are two institutions that have played an essential part in Romania's development and modernisation, training elite specialists who have outlined the strategic directions of the national economy and have had a profound impact on the progress of the country, Governor of the National Bank of Romania Mugur Isarescu said on Wednesday."The event is part of the series of initiatives and projects carried out ...
Analysis: Romania has some of cheapest mortgage loans in Central and Eastern Europe
Monday, April 7, 2025
Romania has some of the cheapest mortgage loans in Central and Eastern Europe, at similar levels to those in Western Europe, when considering average national salaries and the costs of purchasing a two-room (one-bedroom) apartment through a mortgage loan over a 25-year period, according to a report by an online broker.The average mortgage rate required to purchase a two-room apartment in Bucharest accounts for approximately 45% of the average net salary in Romania, making ...
Chief economist Lazea: There is a great reluctance of Romanian companies to take out bank loans
Monday, April 7, 2025
Romania ranks last in the European Union in terms of the share of bank loans in the Gross Domestic Product (GDP), but first in terms of the share of commercial loans, with the latter having a non-performance rate almost three times higher than bank credit, according to chief economist of the National Bank of Romania (BNR) Valentin Lazea."Commercial banks have significant resources that can be used for bank lending to companies, given that the ratio between loans and ...
Compensation payments based on compulsory car insurance policies up 38% last year
Monday, April 7, 2025
The compensation payments made last year by insurance companies under RCA (compulsory car insurance) policies increased 38%, reaching over 4.7 billion lei, according to a press release from the National Union of Insurance and Reinsurance Companies in Romania (UNSAR).This value is supplemented by compensation payments made by the Guarantee Fund for Insurers (FGA) - which rose by approximately 48% - as well as the reserves set aside by insurers according to the law. ...
BNR's Marinescu: Attraction and timely use of European funds, one of the developments closely monitored
Monday, April 7, 2025
One of the developments closely monitored by the National Bank of Romania is the attraction and timely use of European funds, National Bank of Romania (BNR) Deputy Governor Cosmin Marinescu told a specialist event on Monday."We face a complex path marked by the challenge of balancing green objectives related to the energy transition with energy security and economic security objectives, those aimed at protecting vulnerable consumers and ensuring industrial ...
Vista Bank (Romania) SA to serve the loan portfolio of EUROBANK SA in Romania
Monday, April 7, 2025
Vista Bank announces the agreement with EUROBANK SA (Greece) for the servicing of the loan portfolio of the former subsidiary of EUROBANK in Romania (Bancpost) starting with 31st March 2025. The portfolio includes more than 8,000 individuals and SME’s clients with total exposure of more than €500 million. PWC and David & Baias provided tax & legal advice. Vista Bank is ...
Exim Banca Romaneasca has a new Executive Vice President
Monday, April 7, 2025
Eugen Bunea joins the executive management of Exim Banca Romaneasca and assumes the role of Executive Vice President for back-office operations following his appointment by the bank’s Board of Directors and authorization by the National Bank of Romania. Eugen Bunea, who will oversee the Operations Division, IT Division, and the Banking Recovery and Resolution Department, has been part of the EximBank/Exim Banca Romaneasca team since 2019, when ...
Monetary indicators - February 2025
Monday, March 31, 2025
At end-February 2025, broad money (M3) amounted to RON 737,187.2 million, up 0.3 percent (-0.6 percent in real terms) month on month. In year-on-year comparison, broad money ...
Stanleybet Capital lists a new bond issue on the Multilateral Trading System of the Bucharest Stock Exchange
Monday, March 31, 2025
Stanleybet Capital S.A. (Stanleybet), a holding company that integrates and coordinates a network of sports betting and slot machine agencies, gambling halls and online gambling platforms, lists on the Multilateral Trading System of ...
Budget Deficit Exceeds 30 Billion RON, 1.58% of GDP After Two Months
Monday, March 31, 2025
Romania’s budget deficit has surpassed 30 billion RON, representing 1.58% of GDP after the first two months of the year, the Ministry of Finance announced on Wednesday. For comparison, the budget deficit in the first two months of 2024 stood at 28.99 billion RON, or 1.64% of ...
Atradius announced strong results for 2024
Monday, March 31, 2025
Atradius N.V., a global leader in trade credit insurance, has announced strong results for 2024, reporting a net profit of EUR 392.3 million. The 5.4% increase compared to the previous year is based on the company’s three strategic pillars – growth, profitability, and solvency – and reflects its ongoing commitment to supporting clients in managing trade risks and delivering insurance solutions tailored to market ...
Efigence partners with Alior Bank and Telekom Romania to launch Telekom Banking
Monday, March 31, 2025
Alior Bank’s Romanian branch has teamed up with Deutsche Telekom Group’s Telekom Romania Mobile Communications to develop a new digital financial service. And providing the online exchange for this service is none other than Alior Bank’s long-time partner, Efigence, ...
Libra Internet Bank finances a residential project with over 18 million euros
Monday, March 31, 2025
Libra Internet Bank supports the development of the real estate sector, providing financing of over 18 million euros for real estate company Hexagon's ERA project, an innovative residential complex built on the banks of the Nadas River in Cluj-Napoca, the bank announced on Friday.According to the cited source, the project includes over 300 apartments, commercial spaces, extensive green areas, bicycle paths, playgrounds and essential community facilities, ...
Insurers: Many households in Romania continue to face significant deficit of financial protection
Monday, March 31, 2025
Many households in Romania continue to face a significant deficit of financial protection, as the difference between the available resources and those that a household would need in a difficult situation being, on average, about RON154,000, reveal findings of a survey conducted by the National Union of Insurance and Reinsurance Companies in Romania (UNSAR).More than two million life insurance policies were recorded in the first nine months of 2024, up 16% ...
EC: Recapitalisation of Romania's CEC Bank does not constitute State aid
Monday, March 31, 2025
The European Commission (EC) has concluded that Romania's EUR 200 million (RON 1 billion) recapitalisation of the wholly state-owned CEC Bank does not constitute state aid within the meaning of EU state aid rules, the commissiom reported on Monday.In September 2024, Romania informed the commission of its intention to recapitalise CEC Bank, with the primary goals of enhancing its lending capacity, developing the CEC Financial Group, and improving operational ...
Romania's private pension funds accumulated assets of RON 156.44bn in 2024, up 19%
Monday, March 31, 2025
The private pension funds in Romania accumulated assets of 154.44 billion lei at the end of December 2024 up by 19% as compared to the same period of the previous year, according to the report regarding the evolution of the private pensions system in 2024, made by the Authority for Financial Supervision.Compared to June 2024, the total assets of private pension funds increased by 5.3%. Thus, ...
The Ministry of Finance attracted over RON 2.2bn in the Fidelis government bond offering in March
Monday, March 24, 2025
The Ministry of Finance (MF) attracted over RON 1.4bn and EUR 168mn through six issues of government bonds for retail investors (Fidelis), within the second offering held this year on the capital market. The Fidelis government bonds issued in March started trading on Bucharest Stock Exchange, Thursday, March ...
Romania’s banking sector has a low exposure to commercial real estate
Monday, March 24, 2025
The banking sector’s exposure to the commercial real estate market (CRE) (excluding the residential segment) exceeded RON 100 billion in September 2024, accounting for half of its total exposure to non-financial corporations. This increase, driven by the use of commercial real estate properties as collateral, highlights the sector’s crucial role in supporting Romania’s ...