Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS

Subscribe|Login

Financial & Banking

CEC Bank clients can now open 100% online accounts, from Romania or abroad

Monday, March 16, 2020

CEC Bank, the longstadning Romanian financial institution, launches the new „Welcome” package, through which clients can now open new 100% online accounts, even if they are in Romania or abroad. The „Welcome” package includes a checking account, the issuing of a debit card, and access to Mobile Banking. The checking account and accessing Mobile Banking will be instantly activated, after completing the online register process, ...

Eurohold to take over only one Romanian subsidiary of Ergo

Monday, March 16, 2020

The insurance groups Ergo of Germany and Eurohold of Bulgaria have taken Ergo Life Insurance Romania out of their regional deal while keeping Ergo Insurance Romania in the package of subsidiaries subject to the takeover ...

Romania's active mandatory home insurance policies advance to 1.75 ml this February

Monday, March 16, 2020

The number of active mandatory home insurance policies was 2.61 percent up in February 2020 from the year-ago period to roughly 1.75 million, as to 1.70 million policies as of February 28, 2019, according to statistical data of the Natural Disaster Insurance Pool (PAID), the company that provides this type of insurance. There were 1.73 million active policies as of December 31, 2019.According to PAID, home insurance policies taken out in urban areas accounted for ...

Romanian capital market closes down almost 9 pct first two months of year

Monday, March 16, 2020

The Romanian capital market registered a 8.6 pct decline in the first two months of the year, after the BET index reached the maximum of the last 12 years, and the BET-TR index reached new historic highs, according to a press release of the Bucharest Stock Exchange (BVB).At the end of February, the market value of the Romanian companies listed on the BVB was about RON 100 billion lei, the equivalent of EUR 20.6 billion.According to BVB, the Romanian ...

UniCredit’s Romanian subsidiary repatriates 80% of its net profit

Monday, March 16, 2020

UniCredit Bank, the Romanian subsidiary of Italian UniCredit group, will distribute dividends worth RON 449 mln (EUR 93.5 mln), almost 80% of the RON 573 mln (EUR 119 mln) net profit achieved in ...

OTP’s Romanian subsidiary boasts 65% higher profit in 2019

Monday, March 16, 2020

OTP Bank, the Romanian subsidiary of the largest banking group in Hungary, reported that its net profit increased by 65% in 2019 compared to 2018, to RON 92 million (some EUR 20 mln). The result does not include the RON 5.4 mln tax on bank assets paid in 2019. The bank’s total assets reached RON 13.8 billion (EUR 2.88 bln) at the end of 2019, 24.3% more compared to the end of 2018. OTP Bank Romania reported a 17% increase ...

Number of investors at the Bucharest Stock Exchange continues to decline

Monday, March 16, 2020

The number of trading accounts active on the Bucharest Stock Exchange reached 53,550 at the end of 2019, down by 1% compared to the previous year, according to data from the Fund for Investor Compensation (FCI) consulted ...

BNR: International reserves – February 2020

Monday, March 9, 2020

On 29 February 2020, the National Bank of Romania’s foreign exchange reserves stood at EUR 35,830 million, compared to EUR 35,505 million on 31 January 2020. During the month, the following flows were recorded: EUR 1,371 million worth of inflows representing changes in credit institutions’ foreign currency-denominated required reserves, inflows into the Ministry of Public Finance’s accounts, inflows ...

EC : Romania, under Excessive Deficit Procedure

Monday, March 9, 2020

The European Commission (EC) has officially notified Romania about opening the Excessive Deficit Procedure (EDP) as a result of the country exceeding the 3%-of-GDP public deficit threshold in 2019. The Commission instructed Romania to follow a fiscal consolidation path in line with the Romanian Government’s public deficit targets of 3.6%-of-GDP in 2020, 3.4%-of-GDP in 2021 and 2.8%-of-GDP in 2022. Such performance is consistent with annual ...

Hidroelectrica re-launches tender to find IPO adviser

Monday, March 9, 2020

Hidroelectrica, the largest producer of electricity and the most profitable state-owned company in Romania, re-started the auction for the EUR 1.75 million contract for consultancy services needed for listing its shares on the Bucharest Stock Exchange ...

Tech Start-Up: Connections Launches Banknit Fintech Platform

Monday, March 9, 2020

Connections, digital transformation company in Romania, Bulgaria and Serbia, has announced the launch of the fintech start-up Banknit, a platform that integrates and displays, under a single API, the data provided by banks, in accordance with the Revised Payment Service European Directive (PSD2). Banknit offers the possibility to integrate the benefits provided by the open banking concept into ...

Norofert starts trading on Bucharest Stock Exchange

Monday, March 9, 2020

The shares of Norofert, the largest Romanian producer of organic fertilizers, started trading on the AeRO market of the Bucharest Stock Exchange (BVB) on March 3. The average trading price in the first trading session puts the company's market capitalisation at about RON 24.2 mln (EUR 5 mln), 21% over the valuation of the company in July 2019, when it raised RON 7.25 mln (EUR 1.5 mln) in a private placement. "This listing was ...

Libra bank issues EUR 10 mln bonds to finance expansion

Monday, March 9, 2020

200309103420libra.jpg

Libra Internet Bank, a small Romanian lender with a focus on liberal professions, real estate, agribusiness, and SMEs, announced that it plans to carry out a private placement of bonds in amount of EUR 10 mln (or more, depending on demand), to be later listed on the Bucharest Stock Exchange (BVB). The subordinated bonds will have a maturity of 10 years and the placement will be managed by local brokerage firm Tradeville. "As ...

BNR: Banks want to moderately relax lending standards for consumer loans to the population

Monday, March 9, 2020

Banks could take in the first quarter of this year the decision to moderately relax lending standards in case of consumer loans granted to the population, shows a survey conducted by the National Bank of Romania (BNR) on lending to non-financial companies and to the population."In accordance with the estimates from the previous quarter, the credit institutions kept unchanged the conditions for lending to the population in Q4 2019, for both property purchase loans ...

Hidroelectrica, E.ON place best preliminary bids for CEZ assets in Romania

Monday, March 9, 2020

Czech utilities group CEZ has received preliminary financial offers evaluating its Romanian operations at EUR 1.1-1.3 ...

Leonardo Badea (BNR): The activity of financial institutions enters the “digital era”

Monday, March 9, 2020

The European Conference on Financial Services – ECFS 2020, organized by the Financial Studies Institute (ISF) and the Centre for Association of Insurance Arbitration and Mediation Center – ACAMA was held today in Brasov. Present at the conference, Leonardo Badea, the vice-governor of the Romanian National Bank (BNR), talked about the digitalization of the financial sector, consumer experience, fintechs, machine learning, among other talking ...

DIY retailer Dedeman buy 5% stake in Purcari winemaker

Monday, March 9, 2020

Paval Holding, the investment vehicle of Adrian and Dragos Paval - the owners of local do-it-yourself retailer Dedeman, has become a significant shareholder in Purcari Wineries, the only wine producer listed on the Bucharest Stock Exchange. The holding has bought 1 million shares, representing over 5% of the company’s capital. The stake is worth RON 22.8 million (EUR 4.8 mln), based on the current share price. The timing ...

Only one in five RO homes are insured against earthquake

Monday, March 9, 2020

20030910354171769163_home_insurance_with_balloons_meaning_housing_indemnity_3d_rendering.jpg

Only one out of five Romanian’s 9 million homes are insured [against earthquakes] although earthquakes represent the second risk that Romanians are worried about when it comes to their homes (57%), after fires (65%), according to a study carried by the Romanian Institute for Evaluation and Strategy (IRES) for UNSAR to mark 43 years since the 1977 earthquake. However, according to the study, seven out of ten Romanians declare that they are ...

BNR: Monetary indicators – January 2020

Monday, March 2, 2020

At end-January 2020, broad money (M3) amounted to RON 419,528.8 million, down 0.7 percent (down 1.1 percent in real terms) month on month. In year-on-year comparison, broad money rose by 9.7 percent (5.8 percent in real terms), Romanian Central Bank (BNR) data show. At end-January 2020, loans to non-government sector granted by credit institutions grew 0.8 percent (0.4 percent in real terms) from December 2019 to RON ...

Erste Group posts 8.7% hike in operating result to EUR 2.97 billion in 2019

Monday, March 2, 2020

200302103149Erste_Bank_Office.jpg

"Our annual operating result of nearly 3 billion euros, which is a significant increase of 8.7 percent, proves Erste is really fit at its core. This is quite rare in European banking at the moment – and gives us a strong foundation for future growth," says Bernhard Spalt, CEO of Erste Group Bank AG.  “Thanks to our footprint, we’re active in the economically most dynamic region in Europe, with CEE countries posting GDP growth ...

Premium News

Daily

Wednesday, September 23, 2020

Financial & Banking

Monday, September 21, 2020

Economic

Tuesday, September 22, 2020

Companies

Wednesday, September 23, 2020

Energy & Environment

Thursday, September 17, 2020