Loading page...

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

Subscribe|Login

Financial & Banking

OLX Group acquires Kiwi Finance, largest loan broker in Romania

Monday, December 14, 2020

OLX Group announces the acquisition of Kiwi Finance, after the transaction received the approval of the Competition Council, the largest loan broker in Romania thus entering the Group's local portfolio, to which OLX, Storia.ro and Autovit.ro already belong."We are pleased to announce that the transaction has been successfully completed and we are confident that we have the ideal partner in this new journey. The acquisition of Kiwi Finance comes as a result of OLX ...

Banks in Romania have granted population, companies new loans of 67.42 billion lei in first 10 months

Monday, December 14, 2020

201214110726images.jpeg

The banks operating in Romania have granted the population and companies new loans worth 67.42 billion lei in the first ten months of 2020, which represents almost a quarter of the non-governmental credit balance for October, according to data submitted by the Romanian Association of Banks (ARB)."The share of new loans accessed by the population and companies, of 24.15 pct of the non-governmental credit balance, represents a rather high percentage, especially ...

Financial threats in 2021: cryptocurrency transit, web skimmers move to the server side and extortion plague

Monday, December 14, 2020

In 2021, many financial cybercriminals are likely to target Bitcoin more often, while other cybercriminals will switch to transit cryptocurrencies when demanding payment from victims for enhanced privacy. On top of that, extortion practices will become even more widespread, be it as part of DDoS or ransomware attacks, with the operators of the latter consolidating and using advanced exploits to target victims. These are the key predictions from Kaspersky regarding ...

S&P Global Ratings affirms Romania at BBB-/A-3, outlook remains negative

Monday, December 7, 2020

201207102759desc__rcare__5_.jpeg

Standard & Poor's Global Ratings maintained Romania's rating at BBB-/A-3, with a negative outlook, and warned that the country's economic situation could deteriorate further if policymakers fail to produce a credible plan to lower fiscal imbalances.   Romania's ratings could be lowered fiscal and external imbalances remain elevated for longer than anticipated, for instance, because of challenges to ...

International reserves – November 2020

Monday, December 7, 2020

On 30 November 2020, the National Bank of Romania’s foreign exchange reserves stood at EUR 33,393 million, compared to EUR 33,795 million on 31 October 2020.   During the month, the following flows were recorded: EUR 1,142 million worth of inflows representing changes in credit institutions’ foreign currency-denominated required reserves, ...

Prof. Univ. Dr. Nicu Marcu, President of ASF: Digitization requires the adaptation of supervisory models to prevent vulnerabilities

Monday, December 7, 2020

201207102913Nicu_Marcu.jpg

  The European Commission has recently adopted a new Digital Finance Package, including Digital Finance and Retail Payments Strategies as well as legislative proposals on crypto-assets and digital resilience.   The Commission has proposed for the first time a new legislation on crypto-assets (a digital representation of values or rights that can be ...

Filip & Company assists the Ministry of Public Finance in a EUR 2.5 billion Eurobond issue

Monday, December 7, 2020

Filip & Company, in collaboration with Linklaters, assisted the Ministry of Public Finance in a two-tranche Eurobond issue that drew over EUR 2.5 billion from the international markets. The first tranche of EUR 1.5 billion has a 20-year maturity and a 2.65% annual interest rate, while the second one amounts to EUR 1 billion, has a 9-year maturity and a 1.46% annual interest rate. A key objective of both the private ...

Catalyst Romania launches new venture capital fund to invest more than 40 million euros

Monday, December 7, 2020

Catalyst Romania Investment Fund, backed by 3TS Capital Partners, is launching its second fund aimed at financing technology, media and telecom companies, after the completion of the first round of capitalization, Marius Ghenea, Managing Partner Catalyst Romania, told on last Wednesday an online conference."We are launching the new venture capital fund at the right time for technology companies. The field is experiencing a new stage of development fueled by ...

Capital market volatility has brought new investors to stock market

Monday, December 7, 2020

Capital market volatility has brought new investors to the Stock Exchange, however, in order to increase the number of investors in the market it is essential to support as many companies as possible to grow so as to become attractive, say capital market experts."It is very important to have a dialogue with companies and familiarize them with the mechanisms of the capital market so that entrepreneurs fully understand its advantages. We have seen more and more ...

BT enters voluntary pension market by takeover

Monday, December 7, 2020

Banca Transilvania (BT), has entered the voluntary pensions market (Pillar III) by acquiring and integrating the specialized asset management company Certinvest Pensii.   The financial group has notified all of its clients about the opportunity to contribute to the Pensia mea (My Pension) voluntary pension fund.The fund is managed by BT Pensii, the newest brand of the financial group based in ...

VIG enters Romanian private pension market by taking over Aegon in regional deal

Monday, December 7, 2020

Austrian group Vienna Insurance Group (VIG), active on the Romanian insurance market through Omanisig, Asirom, and BCR Asigurari de Viata, has signed an agreement to buy Dutch insurer Aegon's subsidiaries in Hungary, Poland, Romania, and Turkey.   The deal covers the insurance companies, private pension fund management companies, financial asset management companies, and ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 12 November 2020

Monday, November 30, 2020

24 November 2020   On 12 November 2020, 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 ...

Govt. unveils National Recovery and Resilience Plan draft

Monday, November 30, 2020

Liberal Government, headed by prime minister Ludovic Orban, unveiled on November 26 the National Recovery and Resilience Plan.   This document includes the measures proposed to be financed with the EUR 30 billion in soft loans and grants Romania could get under the EU's EUR 750 bln Facility of Recovery and Resilience (FRR).   The document will be subject to public ...

Monetary indicators – October 2020

Monday, November 30, 2020

At end-October 2020, broad money (M3) amounted to RON 469,279.6 million, up 1.8 percent (1.6 percent in real terms) month on month and 16.0 percent (13.5 percent in real terms) year on ...

Banca Comerciala Romana names new Operations & IT Vice-President

Monday, November 30, 2020

Banca Comerciala Romana (BCR) has named Thomas Kolarik, an experienced IT top executive to Vice President position responsible for operations & IT at BCR starting January 1st 2021. His appointment is subject to regulatory approval by the National Bank of Romania. He shall succeed Ryszard Druzynski, member of the board in charge with operations & IT, who is finishing his mandate and has decided to return to native Poland in order to pursue other career ...

Developing local investor community, top priority for Bucharest Stock Exchange

Monday, November 30, 2020

Developing local investor community so as to have a much higher participation of the Romanian population in the capital market is the top priority for the Bucharest Stock Exchange (BVB), CEO Adrian Tanase affirmed."It is very important to have a dialogue with companies and familiarize them with the mechanisms of the capital market so that entrepreneurs fully understand its advantages. We have seen more and more small and medium-sized companies accessing the ...

BCR, part of a European consortium that accessed a grant of EUR 1 M to support innovative Start-Ups and SMEs

Monday, November 30, 2020

201130013746bcr_logo.jpg

Banca Comerciala Romana (BCR) was selected by the European Commission in a consortium that applied for the European initiative “INNOSUP-10-2020 – Closing the finance gap for IPR-driven start-ups and SMEs” to receive a grant totaling EUR 1 million. The funds will be used to support 15 start-ups and 15 innovative SMEs based in the European Union, including Romania, to efficiently leverage their intangible IP ...

CEC Bank sees 14% asset increase in first nine months

Monday, November 30, 2020

Romanian state-owned lender CEC Bank reported RON 274.2 million (EUR 56.3 mln) preliminary unaudited net profit in the first nine months of the year. The results were "above the target," and they contribute to the bank's consolidation, CEC says in a statement.   "The results are encouraging, in a context shaped by uncertainty and low interest rates. We have managed to ...

The state's tax revenues have fallen sharply

Monday, November 30, 2020

Tax revenues contracted by nearly 10% year-on-year in January-October, to RON 116.6 billion (EUR 23.9 bln), according ...

ALRO extends USD 150 M syndicated credit facility coordinated by EximBank

Monday, November 30, 2020

ALRO aluminium producer has extended until 2023, two syndicated credit facilities cumulating USD 150 million, under the coordination of EximBank.   The banks syndicate included Unicredit Bank, OTP Bank Romania, EximBank, ING Bank Bucharest Branch, Raiffeisen Bank, Intesa Sanpaolo Romania, CEC Bank, Banca Transilvania, Garanti Bank, the International Bank for Economic Cooperation and was legally advised by ...

Premium News

Daily

Wednesday, July 28, 2021

Financial & Banking

Monday, July 26, 2021

Economic

Tuesday, July 27, 2021

Companies

Wednesday, July 28, 2021

Energy & Environment

Thursday, July 22, 2021