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Financial & Banking

TBI Bank and Instant Factoring provide a unique solution for entrepreneurs and SMEs: the first complete tool for financing digital invoices

Monday, April 12, 2021

TBI Bank, one of the leading phygital lenders in the South Eastern European region, and Instant Factoring, the first Romanian online factoring company, developed a new digital invoice financing solution, in an atypically context, where the current pandemic accelerated the negative impact of uncollected invoices. The two companies are now providing to their customers a “one stop shop” digital invoice ...

Patria Bank and QUALITANCE partner in user experience design

Monday, April 12, 2021

QUALITANCE, the international innovation, tech and Artificial Intelligence company founded and headquartered in Romania, has announced today a new innovation partnership with Patria Bank, aiming to create new seamless user experiences for the bank’s customers. In a joint effort, Patria Bank and QUALITANCE will study user journeys and uncover new ways to serve and delight customers.   The combination of the trusted ...

Intesa Sanpaolo Bank takes important steps to support companies that implement the principles of the Circular Economy

Monday, April 12, 2021

Intesa Sanpaolo Bank, the Romanian subsidiary of the Intesa Sanpaolo Group, recently granted to the Romanian company SUPERCOM SA a credit facility worth RON 19,6 million (~ 4 million EURO) necessary to acquire equipment, all new, specially designed for cleaning and selective waste collection, incorporating the latest technology in the field and a low level of pollution.   Through this financing, Intesa Sanpaolo Bank Romania ...

Press release of the National Committee for Macroprudential Oversight regarding the meeting of 30 March 2021

Monday, April 5, 2021

The first meeting of this year of the General Board of the National Committee for Macroprudential Oversight (NCMO) was held on 30 March 2021 by written procedure.   During the meeting, Board members examined analyses and adopted measures concerning macroprudential policy and systemic risk, namely the regular analysis on the recalibration of the countercyclical capital buffer, the draft Annual Report of the National ...

BNR: International reserves – March 2021

Monday, April 5, 2021

On 31 March 2021, the National Bank of Romania’s foreign exchange reserves stood at EUR 35,709 million, compared to EUR 35,139 million on 28 February 2021. During the month, the following flows were recorded: EUR 2,019 million worth of inflows representing changes in credit institutions’ foreign currency-denominated required reserves, inflows into the Ministry of ...

Agricover Holding takes the first step on Bucharest Stock Exchange by listing the largest bond issues of a Romanian entrepreneurial company at BVB

Monday, April 5, 2021

  Agricover Holding, the main player in the Romanian agribusiness, took the first step on Bucharest Stock ...

OTP Bank Romania announces the end of The share capital increase process with 250 Million lei

Monday, April 5, 2021

OTP Bank Romania received a share capital increase of 250 million lei. Last year, OTP Bank Romania significantly invested in multiple areas, announcing the opening of new branches, increasing its digital capacity (full online PL and account opening process for new customers), renewing its marketing strategy, and hiring 200 new colleagues. These activities, and the 13% increased loan portfolio, imply additional capital need that was ...

Subscriptions for Tezaur retail government securities open in April

Monday, April 5, 2021

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 Retail subscriptions are open between April 1 - 26, 2021 for Tezaur government securities through the operative units of the State Treasury and the Romanian Post offices, the Finance Ministry said in a release.The securities' annual interest rates are 2.95 percent for one-year securities, 3.35 percent for 3-year securities, and 3.75 percent for 5-year securities.The securities with the face value of 1 RON are issued in dematerialized form, ...

EVERGENT Investments the best performing financial investment company in the last 10 years changes its ticker from SIF2 to EVER

Monday, April 5, 2021

EVERGENT Investments, the investment company recognized for the highest market value and for the best return offered to its shareholders, changes its ticker from SIF2 to EVER, starting with March 29th, 2021.   Changing the ticker in EVER is part of the company's shareholder-supported rebranding process to reflect a new development breakthrough, according to the new ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 15 March 2021

Monday, March 29, 2021

On 15 March 2021, the Board of the National Bank of Romania held a meeting in which the following members took part: Mugur Is?rescu, Chairman of the Board and Governor of the National Bank of Romania; Florin Georgescu, Vice Chairman of the Board and First Deputy Governor of the National Bank of Romania; Leonardo Badea, Board member and Deputy Governor of the National Bank of Romania; Eugen Nicol?escu, Board member and Deputy Governor of the National Bank of Romania; Csaba ...

The Balance of Payments Statistics Data Revision

Monday, March 29, 2021

On March 26th, the balance of payments statistics for the period 2010-2019 have been revised to include private imports of second-hand cars, in accordance with the corresponding data in the National Non-Financial Accounts, calculated and published by the National Institute of Statistics between 9 October 2020 and 28 January 2021, the Central Bank (BNR) informs.   The Revision of the Balance of Payments was carried out to ensure the consistency between ...

Monetary indicators - February 2021

Monday, March 29, 2021

At end-February 2021, broad money (M3) amounted to RON 497,102.4 million, up 1.4 percent (0.9 percent in real terms1) month on month and 17,4 percent (13.8 percent in real terms) year on year, the Central Bank (BNR) informs.   At end-February ...

Banca Transilvania returns to free shares instead of cash dividends

Monday, March 29, 2021

Banca Transilvania (TLV), the biggest lender in Romania in terms of assets, will discontinue cash dividend payments and return to capitalizing its profits and distributing free shares to its shareholders, according to a report sent to the Bucharest Stock Exchange (BVB).   The bank plans to capitalize almost half of its 2020 net profit – RON 573 mln out of RON 1.2 bln – and distribute free shares to its ...

Teilor gets EUR 2.6 mln loans from Raiffeisen with state guarantees

Monday, March 29, 2021

Romanian jewelry company Teilor has contracted two loans from Raiffeisen Bank worth EUR 2.6 mln in total.The loans will be 90% guaranteed by the state through the state-owned lender Eximbank, under the scheme to support local companies impacted by the COVID-19 pandemic.   The first loan, worth EUR 1.6 mln, is for working capital and the other one, worth RON 5 mln (over EUR 1 mln) is for investments.   Teilor is a ...

În 2021, Black Sea Fund wants to invest 15-20 Million Euros

Monday, March 29, 2021

Black Sea Fund, a Romanian private equity investment fund focused on transactions with small and medium-sized companies, plans to invest between 15-20 million euros this year by completing three or four transactions. The fund could finalize two of its transactions by this summer.   The two transactions that could be completed in the summer target one of the largest players in urban mobility and an entertainment production ...

ASF: 10 insurers account for 89 pct of 2020 total written premiums

Monday, March 29, 2021

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The Romanian insurance market is characterized by a medium to high degree of concentration, as last year 10 of the 28 insurance/reinsurance companies made about 89 percent of the total volume of gross written premiums, according to a report published by the Financial Supervisory Authority (ASF).According to ASF data, the first five insurance companies had together a market share of 64.18%, namely: City Insurance - 20.07%, Omniasig VIG - 12.03%, Allianz Tiriac Insurance - 11.43%, ...

The number of tax payments  made through SelfPay stations has increased by 78% in the first two months of the year

Monday, March 29, 2021

The number of taxes paid through the SelfPay stations over the first two months of 2021 has increased by 78% against the same  period of the previous year, so that over  100,000 citizens paid their taxes by using such stations, the company said.   The payment for the taxes can be made through the biggest national network of self-service  payment stations for the institutions which chose to extend their methods of collection towards the ...

Alpha Bank Romania, gross profit on the rise, YoY

Monday, March 29, 2021

Alpha Bank Romania made a gross profit of 21.3 million euros last year, up 36.9%, and its operating profit increased by 13% compared to the previous year, reaching 32.8 million euros, amid a 7% reduction in costs, the bank announced on Wednesday.According to a bank press release, Alpha Bank Romania's loan portfolio stood at 2.6 billion euros at the end of 2020, marking a constant evolution compared to 2019, mainly due to the intensification of lending activity on the Small ...

James Stewart leaves Raiffeisen Bank Romania to manage the Austrian group's division in Bosnia

Monday, March 29, 2021

James Stewart, Raiffeisen Bank's vicepresident for Treasury and Capital Markets, will leave the bank after 21 years. He will take over as interim CEO of Raiffeisen Bank Bosnia and Herzegovina.   James Stewart came to Romania in 2000 and was involved in the takeover and restructuring of former state-owned lender Banca Agricola by the Austrian group Raiffeisen. He has participated alongside the ...

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