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Financial & Banking

TBI Bank reports record quarterly net profit in Q1 2022, 40% higher than the same period last year

Monday, June 20, 2022

Challenging times like these we live in, require an even sharper company vision, a stronger team effort and customer focus from every business. Over the past years TBI Bank has proven to have all these ingredients and the results follow.   TBI Bank’s consolidated unaudited financial results for the first quarter of 2022 show all-time quarterly record net profit of EUR ...

CEC Bank survey: 66.5% of the Romanians have no savings

Monday, June 20, 2022

66.5% of the Romanians surveyed in a survey conducted by CEC Bank in partnership with the bank comparator FinZoom.ro say that they have no savings, and of those who managed to put money aside, most of them (77.6%) have savings of a lifetime below 10,000 euros, according to a press release issued by the bank, on last Tuesday.According to the source, at the opposite pole, savings of over 20,000 euros manage to have only 9.8% of respondents.When asked ...

Insurer Allianz-Tiriac doubles business in Q1 2022 after City Insurance bankruptcy

Monday, June 20, 2022

Romanian insurer Allianz-Tiriac, a joint venture between German group Allianz and Romanian billionaire Ion Tiriac, doubled its gross written premiums in the first quarter of 2022 compared with the same period of last year as the number of new customers increased fourfold.   The company reported that its business reached RON 820 million (EUR 166 mln) in the first quarter as car insurance subscriptions tripled year-on-year. ...

46% of Romanians believe that their purchasing power has decreased in the last 12 months

Monday, June 20, 2022


The circular economy, a concept that is gaining more and more validation: 27% of Romanians say they regularly buy second-hand product.   80% of Europeans have a positive image of the circular economy; 1 in 2 Europeans say they have recycled more and reduced their waste in the last three years, with Romanians being among the leaders in this ...

IMF projecting moderate economic growth in Romania at around 3.5% -4.5% in 2022 and 2023

Monday, June 13, 2022


The International Monetary Fund (IMF) has improved Romania's economic growth forecast to about 3.5% - 4.5% for 2022 and 2023, IMF official Jan Kees Martijn told a news conference on Friday."Romania's economy has recovered well from the COVID pandemic, but?like other EU countries?is now facing strong headwinds. GDP reached pre-crisis levels in in the first half of 2021 and rebounded very strongly in Q1 2022 from the COVID wave in the fall of last year. However, the ...

Loan agreement with IBRD worth over 467 million euros, negotiated by government

Monday, June 13, 2022

  The government on Thursday approved, through a memorandum, the negotiation of the Loan Agreement with the International Bank for Reconstruction and Development (IBRD) for a development policy program (DPL1, Development Policy Loan) for green and inclusive growth worth 467.5 million euros, a press release by the government informs.The negotiation of the Agreement on non-reimbursable financial assistance, amounting to 24.2 million dollars, as ...

Survey finds 27 pct of Romanian bank account holders pay via internet and mobile banking

Monday, June 13, 2022


The pandemic has given a boost to digitization, as 27 percent of the Romanians with a bank account are now paying via internet and mobile banking, executive director at the Romanian Banks Association (ARB) Gabriela Folcut told the first edition of the Financial Education Forum on Thursday."Digitization received a boost. It didn't start during the pandemic, it only picked up speed. We saw a strong acceleration in the transition to cashless, contactless ...

Visa Study: Romanians prefer card/mobile payments when travelling abroad

Monday, June 13, 2022


With the pandemic threat receding, travelling abroad is yet again a popular option among Romanians. And according to the Travel and Payment Intentions Study 2022 announced by Visa, Romanian travellers spending their holidays abroad prefer card/mobile payments over cash.   According to the study, which covered eight Central and Eastern Europe markets, 61% of residents of Romania declared they would prefer ...

Erste nearly doubles the 2022 growth forecast for Romania to 5.1%

Monday, June 13, 2022

The Austrian banking group Erste, the owner of local bank BCR, has significantly improved its economic growth forecast for Romania, estimating an advance of 5.1% in 2022, compared to the previous forecast of 2.8%. This is more than the Government's expectations (+2.9% this year).   It also revised downwards the growth forecast for Romania's growth next year to 4% (versus 4.4% projected by the Government), ...

SIF Oltenia seeks to exit EximBank

Monday, June 13, 2022

The retail investment fund SIF Oltenia [BSE:SIF5] said that it is seeking to sell its 3.27% stake in majority state-owned EximBank after the lender's shareholders approved its merger by absorption with Banca Romaneasca. The stake is equivalent to some 4.34 million shares in EximBank, SIF Oltenia said in a statement filed with the Bucharest Stock Exchange, BVB, on ...

TBI Bank launches a new 5-year deposit with a market leading 10% interest rate

Monday, June 13, 2022

The rising prices continue to reduce the purchasing power of the Romanians and the ever-increasing inflation continues to erode their savings.   To help customers protect their money and achieve positive real returns, TBI Bank launches a new 5-year long deposit with a 10% interest rate. In addition, the Bank updated all other rates in Lei to also address the customers which prefer short and midterm ...

Simplu Credit launches a 100% online credit product that can be accessed in just a few minutes

Monday, June 13, 2022

The biometric identification service was developed in partnership with the French company Ariadnext, a leading international player; An estimated volume of 100 credit applications/day by the end of the year; The maximum amount granted is 5,000 lei for ...

Study: Three in ten Romanians prefer to keep their savings stashed at home

Monday, June 13, 2022

Three in ten Romanians (28%) continue to keep their savings stashed at home, one third of them fail to save, and another third believe they will save less than before, according to the findings in a recent study in latest developments in Romanians' attitudes towards saving and investing.According to the Reveal Marketing Research data published on Tuesday, two in three Romanians have difficulty saving for a rainy day, but if they could, they would choose to keep ...

Integration of Idea Bank into Banca Transilvania Group enters final stage

Monday, June 13, 2022

The integration of Idea Bank into the BT Financial Group has entered the final stage, so that by Monday, June 13, 2022, the assignment to Banca Transilvania of a part of the contracts concluded between Idea Bank and its customers will be completed, according to a press release of the bank.Banca Transilvania specifies that June 10 is the last day when operations can be made through Idea Bank and on which Idea Bank cards can be used (until 17:00) and Idea ...

BNR: International reserves – May 2022

Monday, June 6, 2022

On 31 May 2022, the National Bank of Romania’s (BNR) foreign exchange reserves stood at EUR 40,920 million, compared to EUR 40,501 million on 30 April 2022. During the month, the following flows were recorded: EUR 3,756 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with the NBR; inflows into the Ministry ...

EximBank ensures Romanian exports in EU and OECD countries until 2026

Monday, June 6, 2022

Romanian exporters will benefit from extended protection in carrying out commercial relations with partners from EU and OECD countries until December 31, 2026, together with extending the short term insurance scheme of temporary non-market risks which EximBank offers on behalf of and in the account of the Romanian state, according to a press release."Apart from extending the application period, the European Commission authorized to widen the area of addressability ...

Rd 73% of Romanians agree with progressive taxation, tax exemption on minimum wage

Monday, June 6, 2022


Approximately 73% of Romanians agree with the tax exemption for those who earn the minimum wage on the economy, the progressive taxation of incomes and the additional taxation of those who pollute, according to the study "Values and attitudes of a progressive type in Romania", carried out on the data of an opinion poll conducted at the command of the Friedrich Ebert Foundation Romania.According to the source, the study explores the attitudes and perceptions of ...

Mihail Ion takes over new Raiffeisen Bank Division

Monday, June 6, 2022

Raiffeisen Bank announces a change in the bank’s management team. The Supervisory Board has appointed Mihail Ion to lead the Capital Markets, Investment Banking and Personal Financial Planning Division. The appointment will become effective after obtaining all approvals and clearance from the National Bank of Romania. Until now, Mihai has served as the bank’s CFO (Chief Financial Officer), a position he has held since May 2017 and previously in his 20 years ...

SIGNAL IDUNA ASIGURARE REASIGURARE receives final approvals from the Financial Supervisory Authority

Monday, June 6, 2022

The insurance company SIGNAL IDUNA ASIGURARE REASIGURARE has received all the approvals from the Financial Supervision Authority (ASF) and announces the completion of the transaction and the beginning of the integration process of the two companies, ERGO Asigurari and ERGO ...

ING Bank Romania reports 67% stronger earnings in Q1

Monday, June 6, 2022

ING Bank Romania announced that its net profit rose to RON 276 mln (EUR 55 mln) in the first quarter of this year, up 67% more compared to the same period last year. Total revenues amounted to RON 667 mln (+23% YoY), while the costs with provisions amounted to RON 46 mln (-52% YoY).   The bank's stock of deposits at the end of March was RON 51 bln (+ 9% ...

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