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Financial & Banking

OTP Leasing Romania launches integrated flow of electronic signatures for legal entities and suppliers

Monday, May 31, 2021

OTP Leasing Romania, part of the OTP banking group, continues the investment in technological projects, meant to support local companies to obtain asset financing in the safest and fastest conditions. The company announces the launch of the electronic signing for leasing contracts, being the first company in this field that offers the possibility of multiple signatures – lessor, client, supplier, guarantor – on contracts and other documents and the integration of ...

BSTDB Increases Funding for SME Leasing Finance in Romania

Monday, May 24, 2021

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  The Black Sea Trade and Development Bank is expanding its support to small and medium-sized enterprises (SMEs) in Romania with a EUR 20 million leasing facility to Garanti BBVA Leasing. The financing will enable the company to meet the demand of Romanian SMEs in acquiring equipment, machinery, and vehicles. The new loan is the third agreement signed by Garanti BBVA Leasing and the BSTDB.   By working ...

Intesa Sanpaolo Bank grants AS Metal Com SRL a RON 4 million loan with guarantee from EximBank

Monday, May 24, 2021

Intesa Sanpaolo Bank, the Romanian subsidiary of the Intesa Sanpaolo Group, recently granted to AS Metal Com SRL a credit facility worth RON 4 million, to ensure the necessary liquidity for the current activity. The facility was approved with a state guarantee, issued by EximBank, within the state aid scheme COVID-19, which it implements, following the special mandate received from the Romanian state.   Through this ...

În 2020, Romanian banks invested EUR 200 mln in digitization

Monday, May 24, 2021

Romanian banks invested last year over EUR 200 mln in process automation, amid the pandemic. As a result, 60% of them offer full-online services, including account opening, compared to 25% in 2019, according to a FinnoScore report compiled by the consulting company Horváth.   According to the report, the best performing banks in Romania, from the perspective of the degree of digitalization, are Banca Transilvania, ...

Fondul Proprietatea Q1 net profit at 701.4 ml lei

Monday, May 24, 2021

- Fondul Proprietatea ended Q1 with a net profit of 701.4 million lei, compared to a loss of 1.95 billion lei in the same period last year, shows a company report submitted to the Bucharest Stock Exchange.The company's net operating income in Q1 was 722.6 million lei, compared to a loss of 1.936 billion lei in the same period of 2020. Operating expenses amounted to 21.2 million lei in the first quarter of 2021, as to 18.1 million lei in the prior year ...

EBRD contributes 30% to BCR's RON 1 bln bond issue

Monday, May 24, 2021

The European Bank for Reconstruction and Development (EBRD) placed RON 300 mln (EUR 60 mln) as part of the RON 1 bln issue launched by Romania's second-biggest lender, Banca Comerciala Romana (BCR) - part of Erste Bank Group.   The issue, launched under a private placement procedure and registered with BVB on May 19, will be listed on the Bucharest Stock Exchange (BVB) towards the end of May. It matures in 2028 and carries ...

Signal Iduna acquires Ergo Insurance Company

Monday, May 24, 2021

  The insurance company Signal Iduna Asigurare Reasigurare announced as of May 20, 2021 the signing of an agreement for the acquisition of the companies Ergo Asigurari de ...

Shares of Agroserv Mariuta started trading at BVB on May 21

Monday, May 24, 2021

Agroserv Mariuta, a Romanian gourmet dairy producer, started trading on the AeRO market of the Bucharest Stock Exchange (BVB), under the ticker MILK, on May 21.   The company is known on the market for its brand Laptaria cu Caimac. In April 2021, the company carried out a private placement through which it sold 431,020 shares(nearly 25% of total current shares) at a ...

BNR Board decisions on monetary policy

Monday, May 17, 2021

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In its meeting of 12 May 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 1.75 percent per ...

Net BVB profit drops by 42% in Q1, to 2.16 million lei

Monday, May 17, 2021

The net profit of Bucharest Stock Exchange (BVB) dropped bu 42% in quarter 1, to 2.16 million lei, compared to the same period of 2020 (3.73 million lei) while operational incomes dropped by 27%, to 5.79 million lei, from 7.96 million lei in the first three months of 2020.   BVB had total active stock of 121 million lei at the end of March, on the rise by 7% against the end of ...

BNR: Balance of payments and external debt – March 2021

Monday, May 17, 2021

In January - March 2021p, the balance-of-payments current account posted a deficit of EUR 2,549 million, compared with EUR 990 million in the same year-ago period, the Cdentral Bank (BNR) informs. The breakdown shows that the deficit on trade in goods widened by EUR 891 million, the surplus on services increased by EUR 88 million, while the primary and secondary income surpluses narrowed by EUR 490 million and EUR 266 million, ...

EBRD backs first green bond issued by a bank in Romania

Monday, May 17, 2021

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EBRD invests RON 53 million (€11 million equivalent) in Romania’s pioneering green bond Raiffeisen Bank Romania accesses capital markets to fund climate projects Promoting green transition and developing capital markets among EBRD’s top ...

Market value of Romanian companies listed on BVB surpasses 120 billion RON

Monday, May 17, 2021

The market value of Romanian companies listed on the Bucharest Stock Exchange (BVB) reached new records in April and surpassed 120 billion RON, after a growth of over 20% this year alone, according to a report from the BVB.Capitalization of Romanian companies on the BVB main market thus passed the registered level prior to the pandemic outbreak of coronavirus."The market capital already offered a reply to the question on when is it best to list a ...

ING Posts 1Q2021 Net Result Of €1,005 Million

Monday, May 17, 2021

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  1Q2021 result before tax of €1,463 million; capital position remains strong at 15.5% Net interest income up on 4Q2020, supported by the benefit from TLTRO III, which more than offset liability margin pressure. Robust growth in fee income of 9.1% year-on-year, especially on investment ...

Kearney analysis: Banks will return to pre-COVID performance levels within three to five years

Monday, May 17, 2021

Analysis from global consultancy partnership Kearney has found that the performance of retail banks is likely to return to pre-pandemic levels within three to five years, although profitability will remain under pressure in the next two ...

Raiffeisen Bank, net profit of 198 million RON in Q1, 2021

Monday, May 10, 2021

Raiffeisen Bank finished the first quarter of 2021 with a net profit of 198 million RON, 41% higher then the one in Q1 2020, based on a considerably smaller risk cost, the bank announced on Friday, through a press release.According to the bank, this positive evolution is due to the prudent risk policy, good performance of credit portfolio, supported by the successful implementation of client support measures (both through own means, such as the bank's option of ...

OTP Bank Romania Posts The Financial Results For The First Quarter Of 2021

Monday, May 10, 2021

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OTP Group announced the financial results for the first three months of 2021. According to the report published in Budapest, which presents the consolidated results adjusted in accordance with the Group´s standards, OTP Bank Romania has registered an after tax profit of RON 7 million during the first quarter of 2021, marking a solid increase compared to the first quarter of last year, when a loss of 11 million lei was recorded, as a result of supplementing by 48 million ...

BRD Group achieves 222 million RON net profit in Q1 2021

Monday, May 10, 2021

The net profit of the BRD Group reached 222 million RON during Q1 of 2021, dropping by 7.59% from the same period of last year, and the bank had a net profit of 218 million RON, smaller by 6.5%, according to a report from the company sent to the Bucharest Stock Exchange (BVB)."Romania's economy has evolved beyond expectations during Q4 of 2020, the GDP registering a less pronounced drop in comparison with initial estimates. On a sanitary level, the ...

BVB’s blue-chip index, up 15.7% in four months

Monday, May 10, 2021

The main index of the Bucharest Stock Exchange – BET, which follows the evolution of the top traded 17 companies listed on the local market, gained 15.67% ...

CEC Bank, net profit worth 81.7 million RON and assets growing by 16 pct in Q1

Monday, May 10, 2021

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CEC Bank reported a net profit of nearly 82 million RON, in the first three months of the year, while the assets of the bank have grown by 16 pct in the same period, over the similar interval of 2020, shows the data of the banking institution, published on Wednesday.According to the quoted source, in the first three months of the current year, the net assets rose by 16 pct over the similar period of 2020, up to 42.4 billion RON after, at the level of 2020, ...

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