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Financial & Banking
Investment fund assets at roughly 45 bln RON at end-Q3
Monday, December 12, 2022
Investment fund assets followed a steady upward trend over the last ten years, and statistics indicate that they have trebled in the last decade, executive director of the Fund Managers Association (AAF) Jan Pricop told the debate "Between risks and opportunities" organized on Wednesday by the Bucharest Stock Exchange (BVB) and AAF with fund managers.Pricop said that although at one point the share of open-end investment funds was approximately equal to that of ...
Banking sector's net pay growth between 4 and 46 pct since 2018
Monday, December 12, 2022
The average net salaries for the most coveted banking jobs increased between 4 and 46 percent since 2018, with financial analyst positions standing at the lower end, and credit analysis experts seeing the highest pay rise, reveals a survey conducted by online platform Undelucram.ro.The most sought-after jobs in the banking sector are financial analyst, relationship manager, branch manager, loan officer/credit analyst or banking services consultant, with ...
Total assets held by privately-managed pension funds at 92.04 bln RON as of end-September
Monday, December 12, 2022
Total assets held by Romania's privately-managed pension system stood at 92.04 billion RON as of end-September, up 2 percent YoY, but 0.5 percent down from December 2021, the Financial Supervisory Authority (ASF) reports.The total net assets held by the mandatory privately-managed pension funds (Pillar II) amounted to 88.71 billion RON, up 2 percent from the year-ago period, and 1.5 percent higher compared to June 2022.As of the same date, net assets ...
Number of direct stock exchange investors doubles from 2019 at more than 120,000
Monday, December 12, 2022
There are currently more than 120,000 direct investors on the stock exchange, double compared to the end of 2019, Bucharest Stock Exchange CEO Adrian Tanase said at the debate organized on Wednesday with investment fund managers "Between risks and opportunities".In his opinion, developments in the open-end investment fund industry is a very important barometer of the general sentiment regarding capital market investments.Tanase said that a quite ...
iBanFirst USD forecast for 2023: Dollar index to rise to 115 points
Monday, December 12, 2022
The dollar is currently in a depreciation phase since its mid-September peak (114/Dollar Index), but iBanFirst analysts anticipate that the most likely medium-term scenario will be an appreciation of the US dollar around 115 (dollar index). The ...
The growing rhythm of electronic commerce will be reduced in the next five years, but it will be over 10%
Monday, December 12, 2022
The growing rhythm of electronic commerce reached during the pandemics will be reduced in the next five years but there will continue to be annual positive rates evaluated at over 10%, according to the report 'The evolution of competition in the key sectors' made by the Competition Council. As refers to the expectations regarding the structure of the future market, a plausible scenario presented ...
BestJobs: 7 out of 10 Romanian employees save from their salaries
Monday, December 12, 2022
About 70% of employees say they make savings, in the attempt to be protected from an uncertain economic future, according to the latest survey made by the online recruiting platform BestJobs, but half of them succeed to save regularly, while the rest make savings occasionally. “Recent years have been marked by crises and uncertainties, but employees have learned how to adapt to change and become ...
BNR: International reserves – November 2022
Monday, December 5, 2022
On 30 November 2022, the National Bank of Romania’s (BNR) foreign exchange reserves stood at EUR 45,594 million, compared to EUR 46,291 million on 31 October 2022. During the month, the following flows were recorded: EUR 2,187 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with the NBR; ...
Banking sector's operating profit at 22.596 bln RON in 2021
Monday, December 5, 2022
The banking sector's operating profit in 2021 was 22.596 billion RON, up from 19.462 billion RON reported the year before, shows data centralized by the National Institute of Statistics.Income from banking operations decreased to 77.214 billion RON from 83.311 billion RON in 2020, as did banking expenses, which amounted to 54.618 billion RON (63.849 billion RON in 2020).The operating profit per 1,000 RON of revenue from banking operations increased ...
CFA Romania: Banking analysts anticipate a decrease in housing prices in the big cities
Monday, December 5, 2022
About 80% of CFA experts anticipate a fall in the prices of residential properties in large cities (no opinion of price increases was recorded), while more than 83% of participants consider these prices to be overvalued (none of the survey participants considered that they would be undervalued). Regarding the EUR/RON exchange rate, over 83% of the participants anticipate a depreciation of the leu in the next 12 months ...
Analysis: Romanian companies need to take solid currency hedging measures
Monday, December 5, 2022
Romanian companies must take solid measures to hedge away currency risk, as fluctuations in the financial markets tend to increase along with economic problems growing critical, shows an analysis conducted by Moneycorp Romania."The recent significant fluctuations in the US dollar's exchange rate, along with the evolution of bond yields, herald a period fraught with challenges, during which financial markets are expected to react to the ever growing risk of ...
Loans granted by NBFIs in Romania, record high in 2022
Monday, December 5, 2022
The amount of loans granted by non-banking financial institutions (NBFIs) in Romania reached a record level of over lei 41 billion mid-2022, after a 9.2% advance in the first six months of this year (compared to the same period in 2021), according to the latest KeysFin analysis. In the post-pandemic year, the loans granted by the NBFIs registered in the General Registry increased by 8.1% to lei 38 billion. As share of the ...
Leonardo Badea (BNR): Financial education – strengthening the resilience of the population and financial stability in the context of overlapping crises
Monday, December 5, 2022
The current context is still dominated by a series of overlapping crises. As the effects of the COVID-19 pandemic appear to be gradually diminishing throughout Europe and the US, they remain high in China and continue to affect a significant part of supply chains, maintaining supply shortages for many categories of goods. At the same time, the arrival of the autumn seems to potentiate a series of seasonal epidemic ...
Erste sees 30% growth potential for shares of Romanian cargo river transport company TTS
Monday, December 5, 2022
Austrian financial group Erste, which operates BCR group in Romania, maintained its "buy" recommendation for the shares of river transporter Transport Trade Services (BVB: TTS) and indicated a price target of RON 14.35, according to the latest analysis report of the group. The target was updated from RON 13.67, the new value implying a yield of 30% in ...
VIG board of directors has a new team starting July 1, 2023
Monday, December 5, 2022
The Managing Board of Vienna Insurance Group (VIG) will be composed as follows as of 1 July 2023: Hartwig Löger, Chief Executive Officer and Chairman of the Managing Board, Peter Höfinger, Deputy Chief Executive Officer and Deputy Chairman of the Managing Board, Liane Hirner, CFRO, Gerhard Lahner, Gábor Lehel and Harald Riener. All Management Board mandates will run until 30 ...
IFC’s support to expand access to climate finance in Bulgaria, Croatia, Romania, and Serbia
Monday, December 5, 2022
A new investment will help expand access to climate finance, supporting small and medium enterprises (SMEs), while bolstering the banking systems in Bulgaria, Croatia, Romania, and Serbia, https://pressroom.ifc.org/ ...
Minutes of the monetary policy meeting of the National Bank of Romania Board on 8 November 2022
Monday, November 28, 2022
22 November 2022 The National Bank of Romania Board members present at the meeting: Mugur Isarescu, Chairman of the Board and ...
Loans extended by NFIs in Romania exceed 41 bn RON at mid-2022
Monday, November 28, 2022
The value of loans extended by non-banking financial institutions (NFIs) in Romania reached a record level of over 41 billion RON at mid-2022, after a 9.2% advance in the first 6 months of this year (compared to the same period in 2021), according to a KeysFin analysis.Unlike the banking sector, NFIs mainly lend to non-financial companies, with 76% of the total portfolio, compared to 47% of the total, in the case of banks in 2021. Of the portfolio of loans ...
Guarantee agreement with IBRD, with a view to a preventive loan of 406 million euros
Monday, November 28, 2022
The Government approved on last Tuesday the negotiation of a guarantee agreement with the International Bank for Reconstruction and Development, the Government informs.This is related to the preventive loan that the Bank Deposit Guarantee Fund (FGDB) is going to contract from IBRD to support the project regarding the institutional consolidation and resilience of the financial safety net.The agreement in principle regarding the guarantee of a preventive ...
Loans worth 229 million euros from the EIB for investments in healthcare sector
Monday, November 28, 2022
The government approved, on Tuesday, a memorandum in which it expresses its agreement in principle regarding the contracting of reimbursable financial assistance from the European Investment Bank, in the total amount of 229 million euros, with the destination of investments in the healthcare sector, informs a press release sent by the Government.The total value of the loans will be 229 million euros, being intended for investments in the health sector in the ...