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Financial & Banking

ING Bank Romania obtains in 2020 gross profit of 574 million RON, lower by 37% v 2019

Monday, March 29, 2021

ING Bank Romania has obtained in 2020 a gross profit of 574 million RON, dropping by 37%, in comparison with the previous year, and total incomes parked at 2.1 billion RON, rising by 3%, the bank announced.The bank had last year attracted deposits worth 45 million RON (+23%), and the credit portfolio was located at 28.7 billion RON (+3%). Provision costs were 525 million RON (+236%)."2020 was a resilience test for us and for the entire banking industry. I am ...

BNR: Board decisions on monetary policy

Monday, March 22, 2021

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In its meeting of 15 March 2021, the Board of the National Bank of Romania (BNR) decided the following:   to keep the monetary policy rate at 1.25 percent per annum; to leave unchanged the deposit facility rate at 0.75 percent per annum and the lending (Lombard) facility rate at ...

BNR: Balance of payments and external debt – January 2021

Monday, March 22, 2021

According to of the National Bank of Romania (BNR) data, in January 2021p, the balance-of-payments current account posted a deficit of EUR 239 million, compared with EUR 377 million in the same year-ago period, . The breakdown shows that the deficit on trade in goods decreased by EUR 56 million, the surplus on services increased by EUR 226 million, the primary income surplus narrowed by EUR 31 million and the secondary income deficit rose by EUR 113 ...

EUR 809 million EIB Group support for COVID-19 resilience, education, water, energy efficiency and private investment in Romania

Monday, March 22, 2021

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EIB and EIF working with leading Romanian banks to strengthen COVID-19 economic resilience EIB streamlined university investment scheme already backing investment at Cluj Technical University and Bucharest Medical University Record disbursement for Romanian projects ...

ASF: Stock of private pension funds grew by 21% last year

Monday, March 22, 2021

The private pension fund knew a solid evolution last year, despite the unfavorable economic context generated by the Covid 19 pandemic, at the end of December private pension funds (pillar II and Pillar III) reaching stock of 78,07 billion lei, 21% more than in 2019, ASF ( Financial Supervision Authority) informs. According to the source, the overall stock of the private pension fund  reached 7,5% as GDP ...

Private Equity Fund Oresa buys logistics and industrial park Solo in Iasi

Monday, March 22, 2021

Swedish private equity fund Oresa has bought the logistics and industrial park Solo Iasi from Tester Group owned by Romanian businessman Bogdan Pitigoi, with RPTR advising the equity fund on this acquisition.In addition to the acquisition process, the law firm also assisted the buyer in connection with the financing of the transaction.   “We appreciate ...

TBI Bank further strengthens its presence in Europe by entering the Lithuanian market

Monday, March 22, 2021

TBI Bank, the fastest growing phygital lender in South-Eastern European region, with core markets in Bulgaria, Romania, and banking operations in Germany, Sweden, Denmark and Poland, now enters the Lithuanian market.   The move is in line with the Bank’s overall business strategy through which it is enlarging its European digital footprint in the Nordics, Baltics and Central Europe. The direction is based on the ...

BRD granted financing of over 130 million lei for HoReCa sector

Monday, March 15, 2021

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BRD Groupe Societe Generale granted new financing of over 139 million lei to HoReCa industry, both in the IMM Invest program and from its own sources, the group informs in a press release.   The latest project is long term financing of over 20 million euros granted to Ana Hotels group. The loan will co-finance the renovation of Athenee Palace Hilton Bucharest ...

Evergent Investments seeks alpha in Romania's economy by increasing private equity investments

Monday, March 15, 2021

Romanian investment company Evergent Investments (EVER), the former SIF Moldova (SIF2), plans to increase its investments in private equity in the following years, aiming to continue delivering higher returns for investors than the market average. The company also aims to draw new money from investors on the local capital market to support its investment strategy.   In the last ten years, the company has ...

Bucharest Stock Exchange boasts 18% yoy rise at end-Feb

Monday, March 15, 2021

The BET-TR index of the Bucharest Stock Exchange (BVB), which follows the share price movement paid by the companies included in the main BET index and their dividends, went up by 17.7% year-on-year as of the end of February.   Nearly a quarter of this growth, namely over 4pp, was achieved during the first two months this ...

Netopia Payments:  Total volume of card transactions advances 60 pct in 2020

Monday, March 15, 2021

Digital payments processor Netopia Payments reported a 60 percent increase in the total volume of card transactions in 2020, compared to the previous year; the largest transaction processed was 97,000 lei, the company said in a release.Last year, Netopia topped the 2 billion euro threshold of processed transactions overall since the start of card payments processing activities in 2009.The number of online card transactions was by approximately 20 ...

Euroins Romania: Tanja Blatnik appointed General Manager

Monday, March 15, 2021

Euroins Insurance Group is proud to announce Tanja Blatnik as its new General Manager for Romania. The proposal of Euroins Insurance Group was accepted by the Financial Supervisory Authority of Romania. Mrs. Blatnik joins Euroins România with over 20 years of experience in the insurance industry, managing and leading important operational teams and innovative projects across Central Europe. Prior to joining Euroins Romania, Tanja Blatnik held the ...

BNR: AGRI-FOOD SECTOR – A KEY ELEMENT OF ROMANIA’S ECONOMIC DEVELOPMENT

Monday, March 15, 2021

By Leonardo Badea, Deputy Governor of the National Bank of Romania (BNR)   In Romania, the cultivation of the land and the processing of agricultural products has always been of significant economic and social importance. With the return to the competitive market economy model in the 1990s, because of the insufficient level of local private capital and public policy ...

BNR: International reserves – February 2021

Monday, March 8, 2021

On 28 February 2021, the National Bank of Romania’s (BNR) foreign exchange reserves stood at EUR 35,139 million, compared to EUR 37,454 million on 31 January 2021.   During the month, the following flows were recorded: EUR 2,557 million worth of inflows representing changes in credit institutions’ foreign currency-denominated required reserves, ...

BNR: Over 18.83 million cards issued in Romania, by end of December 2020

Monday, March 8, 2021

 The total number of cards issued in Romania at the end of the last quarter of 2020 was 18,830,297 units, up 1.05% compared to the end of the previous quarter, according to data centralised by the National Bank of Romania (BNR).According to the quoted source, out of this total, 14,579,234 cards (77.42%) were active, compared to 14,242,026, at the end of September 2020.A number of 15,835,506 cards had a debit function and 2,885,673 a credit ...

BNR survey: Banks planning to maintain lending standards unchanged in Q1 2021

Monday, March 8, 2021

Banks will maintain their lending standards unchanged in the first quarter of this year, both for consumer loans and for property loans, found the February survey on lending to non-financial corporations and households conducted by the National Bank of Romania (BNR).According to the survey, lending standards remained predominantly constant in Q4 2020, both for consumer loans and for loans granted for the purchase of housing and land.Also, about ...

Deloitte study: chief financial officers in Romania are more optimistic than in 2020

Monday, March 8, 2021

Chief financial officers in Romania are more optimistic than six months ago regarding the evolution of their companies’ main financial indicators, according to the latest edition of Deloitte CFO Survey Romania, conducted based on opinions ...

 Romcab’s shares return to trading on BVB after four-year break

Monday, March 8, 2021

The shares of Romanian insolvent cable producer Romcab (MCAB) resumed trading on the Bucharest Stock Exchange (BVB) on Thursday, March 4, after a four-year hiatus.   The market regulator ASF allowed the trading of MCAB shares after a local court confirmed the company’s reorganization plan.   According to the document, the company will ...

Purcari Wineries’s shares surge on BVB as the company announces free share distribution

Monday, March 8, 2021

The shares of Moldovan wine producer Purcari Wineries (WINE) went up by 6.25% on Thursday, March 4, after the company announced that it would double its share capital and distribute free shares to its existing shareholders.The proposal will be discussed in the company’s General Shareholders’ Meeting on March 20.   Purcari plans to increase its share capital from EUR 200,000 to EUR 400,000 by ...

Sale of Credit Agricole’s Romanian branch reaches competition body

Monday, March 8, 2021

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The Competition Council announced on March 2 that it is analyzing the transaction through which Vista Bank Romania plans to take over Crédit Agricole Bank Romania.   The two sides announced the deal last year, but banking market sources familiar with the negotiations suggested some delays in its completion, according to the local ...

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