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Financial & Banking
BRD Asset Management launches first target-date funds in Romania
Monday, September 19, 2022
The BRD Asset Management portfolio was expanded, starting in July, with four new open investment funds, respectively BRD Horizon 2035, BRD Horizon 2045, BRD Oportunit??i and BRD Euro Simplu. The former two funds have a limited lifetime, a novelty on the Romanian market. BRD Orizont 2035 and BRD Orizont 2045 are the first Target Date Funds (TDF) or Funds with a Pre-established Time Horizon ...
Moldova's largest bank MAIB may list its shares on Romania's exchange
Monday, September 19, 2022
Talks have started with the Moldovan authorities so that Moldova Agroindbank (MAIB), the largest bank in the country by assets, to have its shares listed on the Bucharest Stock Exchange (BVB), announced Nicu Marcu, president of the Romanian financial supervisory authority (ASF), the regulator of the capital market. "Steps are being taken to list the largest bank in the Republic of Moldova. There are ...
Development Bank of Romania to start activity after getting authorisations from EC, national bank
Monday, September 19, 2022
The Development Bank of Romania (BDR) will be able to start its activity after the European Commission will issue an authorization decision in the matter of state aid and after obtaining the operating authorization issued by the National Bank of Romania, a draft Government Decision published Tuesday by the Ministry of Finance reads.The initial share capital of the bank subscribed by the shareholder, through the Ministry of Finance, is up to 3 ...
Romania could help Moldova's capital market development, Bucharest stocks' head says
Monday, September 19, 2022
We have learned some things here in Romania, we have developed systems that can help the development of the capital market in the Republic of Moldova, said on Tuesday, at a specialized forum, the president of the Bucharest Stock Exchange (BVB), Radu Hanga.He believes that every market needs a ladder to help local companies grow."Companies are not born big. Of course, we have particularities here in the region, because we went through a regime ...
Assets of mandatory private pension funds worth 90.47 billion RON in July, up 3 pct
Monday, September 19, 2022
Mandatory private pension funds had assets worth 90.47 billion RON at the end of July 2022, up 3 pct compared to the level recorded on July 31, 2021, according to the data of the Financial Supervisory Authority (ASF)."Investments of privately managed pension funds were aimed at Romanian assets in a percentage of 88 pct, most of them being denominated in RON. A large part of the Romanian instruments are represented by state securities or shares listed on the BVB ...
Optional pension funds' assets up in July, to 3.41 billion RON
Monday, September 19, 2022
The assets of the optional pension funds (Pillar III) were worth 3.41 billion RON at the end of July 2022, up by 5% compared to the level recorded at the same date of the previous year, according to a report of the Financial Supervisory Authority (FSA)."Most of the investments were made locally (93%), most of them being denominated in RON (91%)," the report said.Government securities held the largest share in assets, amounting to 2.102 billion RON, ...
National Agency for Fiscal Administration reports increasing revenues by 12.5% in first 8 months
Monday, September 12, 2022
The National Agency for Fiscal Administration obtained revenues of 246.2 billion RON in the first 8 months, an increase of 22.4% nominal index compared to the same period of the previous year, announced on Friday the president of the ANAF, Lucian Ovidiu Heius, during a press conference."ANAF's activity in the first 8 months of the year led to the collection of budget revenues worth 246.2 billion RON, respectively an increase of 22.4% nominal index, ...
EBRD provides EUR 100 M financing to Kaufland
Monday, September 12, 2022
EBRD granted a EUR 100 million loan to the German group Schwarz for the financing of the expansion of Kaufland operations in Romania and Moldova. The RTPR team provided legal assistance on this project. “We are happy that we have once again advised EBRD on a new financing, this time in relation to a development project that will contribute to the ...
BCR to allow cash withdrawals in euro at its ATMs in Romania
Monday, September 12, 2022
Banca Comercial? Român? (BCR), Romania’s second-largest bank, will allow its customers to make withdrawals in euros at its ATMs in Romania. The new function will be available starting this month, and roughly 100 ATMs in Bucharest and other large cities will allow euro withdrawals in the initial phase. The service will extend to over 300 ATMs by the end of the year, according to the press ...
IFC invests 42M US dollars in first sustainability bond in Romania
Monday, September 12, 2022
Romania's first sustainability bond will help promote both financing in the field of climate change and that in the social field, with IFC investing the equivalent of 42 million US dollars in order to strengthen the financial sector and to promote financial inclusion in the country, informs a press release of the financial institution.Senior non-guaranteed sustainability bonds, in local currency, issued by Raiffeisen Bank S.A. (RBRO) from Romania, will help ...
Romanians withdraw less money from mutual funds in July
Monday, September 12, 2022
The investors withdrew RON 510 mln (EUR 105 mln) from local open investment funds in July, visibly less compared to previous months, according to data from the Association of Fund Administrators (AAF). The fund's aggregated net assets were RON 10.7 bln (roughly EUR 2 bln) at the end of the month. The largest outflows were in the segment of fixed-income (bond) funds ...
Uniqua’s Romanian subsidiary may acquire small-sized player Garanta
Monday, September 12, 2022
Uniqa Asigurari, the subsidiary of Austrian insurance group Uniqa, is reportedly in talks to take over Garanta Asigurari - another small-sized player controlled by Swiss-Greek businessman Jean Valvis and Posta Romana, according ...
Polish Inovo VC fund earmarks EUR 10-20 mln to Romanian startups
Monday, September 12, 2022
Inovo VC, a manager of venture capital funds from Poland, plans to invest about 10-20% of its third fund, seen at EUR 100 mln, in Romanian technology startups, according to Ziarul ...
Nuclearelectrica benefits from the Issuer Market Maker services provided by Wood Company
Monday, September 12, 2022
Societatea Nationala Nuclearelectrica (SNN), the sole producer of nuclear power and nuclear fuel using CANDU 6 type technology in Romania, company listed on the Bucharest Stock Exchange (BVB) since 2013, will benefit from September 7 from the issuer's market-making services provided ...
BNR: International reserves – August 2022
Monday, September 5, 2022
On 31 August 2022, the BNR’s (National Bank of Romania ) foreign exchange reserves stood at EUR 42,851 million, compared to EUR 42,768 million on 31 July 2022. During the month, the following flows were recorded: EUR 2,878 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with ...
EBRD supporting Romanian firms affected by war on Ukraine
Monday, September 5, 2022
EBRD lends €25 million to Banca Transilvania to support flow of credit to Romanian economy Loan will support the bank in on-lending to businesses impacted by war on Ukraine EBRD has pledged €2 billion to support companies and countries affected by the ...
FONDUL PROPRIETATEA FINANCIAL RESULTS FOR H1 2022
Monday, September 5, 2022
Fondul Proprietatea (hereinafter “The Fund”) published today its financial results for the six months ended 30 June 2022 and would like to share the following highlights: The Fund's share price performed well in the first part of 2022. As at the end of the first six months of the year, on 30 June 2022, the share price was RON 2.0600, implying a discount ...
Raiffeisen Bank is listing the first sustainability bonds on the Bucharest Stock Exchange
Monday, September 5, 2022
Raiffeisen Bank, key player in the Romanian banking sector, listed on Wednesday, August 31, the first sustainability bonds issue on the Bucharest Stock Exchange ...
BNP Paribas Personal Finance Bucharest receives the Best Place to Work certification
Monday, September 5, 2022
BNP Paribas Personal Finance SA Paris Bucharest Branch, through its trademark Cetelem, joined a prestigious group of companies that are committed to the highest standards regarding the working environment and a great dedication to HR excellence. The company has been recognized and certified as one of the Best Places to Work for in Romania for 2022. The score obtained by the company is 80% and is based both on the ...
Eurohold, owner of Euroins Romania, registers strongest half-year results in company’s history
Monday, September 5, 2022
Eurohold Bulgaria AD, a leading energy and financial group in Southeast Europe, reported record half-year results in 2022 due to the strong performance of the company’s two main businesses – electricity and insurance, according to the company’s consolidated interim financial statement. Total revenue nearly quadrupled to EUR 1.62 billion in January-June, an absolute record-high value in the ...