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Financial & Banking

Record level of over 37.5 billion lei of loans granted by NBFIs in 2021

Monday, November 1, 2021

The value of loans granted by non-bank financial institutions (NBFIs) in Romania reached a record level of over 37.5 billion lei, mid-2021, after an advance of 6.7% in the first 6 months, compared to the same period in 2020, shows the latest KeysFin analysis."In the pandemic year, the loans granted by the NBFIs entered in the General Register increased by 2.3% to 35.2 billion lei, but in December 2020 they were by 4% below the historical level of 36.8 ...

Banks' exposure to real estate sector twice as large as that to industry

Monday, November 1, 2021

Romanian banks' exposures to the real estate market have reached high levels, exceeding RON 170 bln (some EUR 35 bln), of which more than RON 100 bln are on the residential real estate segment, according to data from the National Bank of Romania (BNR).   "The investments in the real estate market can generate important risks in the economy, there is a high degree of market opacity," BNR warns.For ...

ARB: Romanian banking system - highly flexible, well capitalized, sees growth across the board

Monday, November 1, 2021

The Romanian banking system is highly flexible, well capitalized and strongly anchored in economic activity, Radu Gratian Ghetea, chairman of the Libra Bank Board of Directors and honorary president of the Romanian Banking Association (ARB) told a specialist conference on Tuesday."After more than ten years since the 2008 crisis, we can say that the Romanian banking system has coped brilliantly with the challenges posed both by the economic or financial turmoil and ...

Garanti BBVA provides financing of EUR 4.5 M to Softronic for the construction of two electric locomotives

Monday, November 1, 2021

Garanti BBVA Romania granted a financing of EUR 4.5 million to the manufacturer Softronic SRL for building two new electric locomotives. Garanti BBVA has a longstanding relationship with Softronic Group, one of the largest local locomotives producers.   The recently granted financing for building clean transportation railway solutions is the third in the history of Garanti ...

Three out of ten Romanians have a credit card

Monday, October 25, 2021

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Three out of ten Romanians have credit cards, Finzoom concluded, based on a survey ...

Transporters' association demands authorities an investigation on liability insurance market

Monday, October 25, 2021

The Confederation of Authorized Operators and Hauliers of Romania (COTAR) asks the state institutions to investigate the liability insurance market (RCA) in Romania, which, according to the organization, has become a big social problem affecting over 8 million Romanians, reads a press release of the Confederation, sent on Tuesday ."We have been witnessing, for a month now, the biggest bankruptcy in history, on the insurance market in Romania, an irrational ...

BCR takes role in bringing EU funds to local entrepreneurs

Monday, October 25, 2021

  Banca Comercia Romana and ROREG (the Romanian Association of Regional Development Agencies) signed a collaboration protocol aimed at promoting EU financing opportunities, available for entrepreneurs through the Regional Operational Programs.   The joint initiative is ...

Romania has largest companies and banks, but not insurers, in Southeast Europe

Monday, October 25, 2021

of the biggest banks - but when it comes to insurer country's supremacy in the region is not that robust.   There's no Romanian insurer among the biggest seven regional players (not counting bankrupt City Insurance) that come from the tiny markets of Slovenia and Croatia. Automobile Dacia leads for the 7th consecutive year in the top of the largest companies in South-Eastern Europe, even if its ...

BCR coordinated a RON 636 Million syndicated loan for Carmistin Group

Monday, October 25, 2021

Carmistin Group, a key player on the Romanian agribusiness market, signed a RON 636 million syndicated loan, following the amendment and increase by RON 209 million of the existing facilities, with the purpose to support the group’s new investment strategy.   The facility was coordinated by Banca ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 5 October 2021

Monday, October 18, 2021

15 October 2021 The National Bank of Romania Board members present at the meeting: Mugur Isarescu, Chairman of the Board and Governor of the National Bank of ...

Balance of payments and external debt – August 2021

Monday, October 18, 2021

  In January - August 2021p, the balance-of-payments current account posted a deficit of EUR 10,149 million, compared with EUR 6,549 million in the same year-ago period, the National Bank of Romania informs. The breakdown shows that the deficits on trade in goods and on primary income widened by EUR 2,389 million and EUR 587 million, respectively; the surplus on secondary income and that on services decreased by EUR 315 million and EUR 309 ...

Aforti Holding - a company listed in Poland - makes its first step on the Romanian capital market

Monday, October 18, 2021

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The first bond issue of the Polish company Aforti Holding started trading today, October 12, on the Multilateral Trading System (MTS) of the Bucharest Stock Exchange, under the stock market ...

EximBank inks 24.7 million RON financial agreement with Romanian building materials producer Damila

Monday, October 18, 2021

EximBank has concluded a financial agreement worth 24.7 million RON with the Damila company, one of the main players in the area of distribution and manufacturing of building materials, targeted to financing the company's development strategy on short and medium term, according to a press release sent by the bank.The financial package, structured by the bank, includes both financing components - which cover the need of capital generated by the continuous ...

TBI Bank extends its partnership with Gomag eCommerce platform

Monday, October 18, 2021

Regional lender TBI Bank announced that it teamed up with the Romanian eCommerce platform Gomag to provide an all-in-one digital solution to offline and online retailers - including" buy now, pay later." TBI Bank extends its partnership with Gomag eCommerce platform   Through TBIPay buy now pay later model, merchants can provide their customers with the possibility to finance their purchases in a ...

Banca Transilvania, greenlighted by relevant authorities to purchase share in Getin Holding Group at Idea Bank

Monday, October 18, 2021

Banca Transilvania (BT) has received the necessary approvals from the National Bank of Romania (BNR) and the Competition Council (CC) for the acquisition of the entire package of shares held by Getin Holding Group in the share capital of Idea Bank SA, as well as for the stocks in the share capital of the companies from the Idea Bank Group in Romania, respectively Idea Leasing IFN SA and Idea Broker de Asigurare SRL, according to a report submitted to the Bucharest Stock ...

OTP Bank launches the contactless ATM Service for cash withdrawals at the Bank’s ATMs

Monday, October 18, 2021

OTP Bank continues to develop its mobile payment solutions portfolio offered for local clients by launching the “Contactless ATM” service, which allows them to withdraw cash just by simply approaching the smart phone / smart watch or bank card near the specially marked ATM area.   Cash withdrawal is possible through devices (phones, smart watches) that use digital ...

BNR Board decisions on monetary policy

Monday, October 11, 2021

The Board of the National Bank of Romania (BNR), having convened for the meeting of 5 October 2021, decided:   to increase the monetary policy rate to 1.50 percent per annum, from 1.25 percent per annum, as of 6 October 2021; to raise the deposit facility rate to 1.00 percent per ...

Raiffeisen Asset Management's AuM at 6 bln lei

Monday, October 11, 2021

 Assets under the management of Raiffeisen Asset Management (RAM) surpassed 6 billion lei at the end of August 2021, placing it at the top of the ranking of Romania's open-end management companies, with over 23 percent of the market, Raiffeisen Bank Romania said in a statement.Raiffeisen Asset Management's assets under management (AuM) increased by over 800 million lei compared to the end of 2020; equity and mixed-asset funds saw the fastest growth, ...

Romanian companies reward investors by growth rates twice as high as their US or European counterparts in the first 9 months

Monday, October 11, 2021

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The Romanian capital market surged by 29% in the first 9 months when looking at the BET index, and by 35.6% when taking into account BET-TR, which includes also dividends.  US’s S&P 500 increased by 14.7% after the first 9 months, while the European index STOXX600 went up by ...

Patricia Andrei appointed as HR Director at CEC Bank

Monday, October 11, 2021

Patricia Andrei is the new HR Director of CEC Bank, a position from which she will coordinate the entire human resources activity of the bank with the largest territorial network in Romania, which includes more than 1,000 units and almost 6,000 employees nationwide.   With more than 22 years of experience in the field, the new HR director has held various positions within the ...

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