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Financial & Banking

EximBankand and CEC Bank finance new BCA Soceram factory from Targu Carbunesti with 139.2 million lei

Monday, October 31, 2022

EximBank and CEC Bank structured a financial package of 139.2 million lei intend to finance new BCA production units built by Soceram at Targu Carbunesti, Gorj county.   The future factory will have a production capacity up to 1,500 cu.m. per day and will be developed based on the latest concepts in the field, with smart technology. It is the third BCA production unit of the company, next to those of ...

Govt. sketches tighter regulations for pension funds managers

Monday, October 31, 2022


The Government has drafted a series of important changes for private pension funds and their managers, including more transparent (smaller) fees and stricter ...

Revolut Business and Up Romania concluded a partnership allowing business customers to temporary access their services for free

Monday, October 31, 2022

Up Romania and Revolut have concluded a partnership, as a result of which companies in Romania can obtain free access, for 6 months, to one of the most modern expense management services - Revolut Business and, respectively, to the most flexible platform for granting extra-salary benefits to employees - Up Multibeneficii.   Starting from 25 October, the companies that become Up Romania clients and that ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 5 October 2022

Monday, October 24, 2022

The National Bank of Romania Board members present at the meeting: Mugur Isarescu, 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 ...

The NCMO meeting of 20 October 2022

Monday, October 24, 2022

2022-Oct-21   The third meeting of this year of the General Board of the National Committee for Macroprudential Oversight (NCMO) was held on 20 October 2022.   The NCMO was established by virtue of Law No. 12/2017 on the macroprudential oversight of the national financial system, thus ensuring that Recommendation of the European Systemic ...

BVB Report: Romania, more resilient than other developed capital markets in this international context

Monday, October 24, 2022

Romania has been more resilient than other developed capital markets in this complicated international context, said Radu Hanga, president of the Bucharest Stock Exchange, according to a BVB report.The Romanian capital market aligned with the international trend, even if the BET-TR index (that reflects the evolution of ten most liquid stocks listed on the Bucharest Stock Exchange) had a more moderate depreciation, of 10.5% after the first 9 months of the year. In ...

Euroins Romania – financial performance report

Monday, October 24, 2022


Euroins Romania continues its improvement with better financial indicators in Q2 of 2022.  Compared to last year’s Q2, the results have increased by over 100%, both on Total GWP and Non MTPL GWP.     The largest increase in gross written premiums in Q2 2022 compared to the same period last year was recorded by non-MTPL insurance. Optional insurances increased almost three and a half times, from 28 mil. Lei ...

Banca Transilvania approves EUR 1 bln bond-issuing plan for ten-year horizon

Monday, October 24, 2022

Romania's largest financial group by assets, Banca Transilvania, announced plans to finance its activity with separate bond issues that may sum up to EUR 1 bln over a ten-year period of time.   The bank's shareholders approved the multi-year program for the issuance of MREL-eligible corporate bonds denominated in EUR, RON or other currencies at the Extraordinary General Shareholders' Meeting held on October 18. The bonds ...

Franklin Templeton recommends pension funds to back dual-listing of Hidroelectrica

Monday, October 24, 2022

Franklin Templeton, the manager of Fondul Proprietatea, recommends to the shareholders of Fondul, such as Pillar II pension funds, mutual funds, and Silver Point Capital, to vote for the dual listing of Hidroelectrica at the general shareholder meeting of November.   This would come against a decision of Hidroelectrica shareholders (mainly the Romanian state) that stipulates listing the company's shares only in ...

Mastercard to bring crypto trading capabilities to banks

Monday, October 24, 2022

Mastercard introduced Crypto Source, a new program to enable financial institutions to bring secure crypto trading capabilities and services to their customers.  The 2022 Mastercard New Payments ...

ProCredit Bank launches ProGreen Aniversar

Monday, October 24, 2022

ProCredit Bank launches the first green current account package for individuals. Strategically named ProGreen Anniversar, in the context of 2 decades of activity in Romania, the new product assures customers that their financial activity will not support projects that harm the environment.   ProGreen Anniversar is intended for individuals who want to support the development of a sustainable economy and who understand that ...

BNR: Balance of payments and external debt – August 2022

Monday, October 17, 2022

  In January-August 2022p , the balance-of-payments current account posted a deficit of EUR 16,986 million, compared with EUR 10,742 million in the same year-ago period, the Central Bank (BNR) data show.   The breakdown shows that the deficit on trade in goods widened by EUR 6,690 million, the surplus on services expanded by EUR 2,323 million, the primary income deficit grew by EUR 2,423 million, ...

BCR lists 2028 bonds with 9.56% coupon

Monday, October 17, 2022


BCR bank group listed at the Bucharest Stock Exchange (BVB) on October 12 a new issue of corporate bonds (BCR28C), worth RON 334 mln (EUR 66 mln), the third bond listed by BCR at BVB this year and the eighth bond overall.   BCR issued and sold to 10 bondholders a number of 668 corporate bonds with a nominal value of RON 500,000, maturity date on October 6, ...

OTP Bank: Romanian economic growth is slowing down

Monday, October 17, 2022

According to OTP Bank analysts, economic growth is slowing down as Romania tries to adapt to high energy prices and the euro area turns towards stagflation or even recession. The local economic activity is directly affected by another hike in inflation, slowdown of the economic growth and household spending, with an estimated 5% GDP growth for this year.   Considering the economic recovery performance, ...

Only 20pct of Romanians have home insurance

Monday, October 17, 2022


PAID Romania Director General Nicoleta Radu said on Thursday that in Romania only 20% of the population has home insurance, pointing to risks that uninsured Romanians may run into in the aftermath of disasters."Natural events can cause damage. I think we have enough reasons to stop thinking that it can't happen to us. It is happening to us, and things have happened to us in recent years that we would never have thought of. That's why I say that there are things ...

Banks receive 7,872 requests from clients to suspend payment obligations based on legislative moratorium, in 2022

Monday, October 17, 2022

 Romanian banks received 7,872 requests to suspension payment obligations of rates, interest rates and commissions, from natural and legal person clients alike, until August 29, 2022, according to the provisions of Ordinance 90/2022 regarding the granting of facilities for loans granted by banks and non-banking financial institutions to certain categories of borrowers, according to the data provided by the Romanian Banks Association collected from banks that total a ...

MedLife and NN are launching NNCare group health insurance

Monday, October 17, 2022

MedLife, Romania’s leading private healthcare provider, rounds out its portfolio of healthcare solutions offered to corporate clients with NNCare group health insurance developed by NN Asigurari de ...

Revolut Romanian users generate 141 million transactions in first nine months of 2022

Monday, October 17, 2022


 Revolut Romanian users generated 141 million transactions in the first nine months of 2022, by 20% more than in the first three quarters of 2021, according to a company statement.At the same time, the total volume of payments made with the financial application increased by 17%, between January and September 2022, compared to the similar period in 2021.As regards the consumption behavior of Romanian customers, the biggest increase, by +71%, ...

Deloitte study: Banks’ profitability to decrease over the next year and to return to current levels in 2026

Monday, October 17, 2022

Banks’s profitability will remain subdued over the next year, because of an unprecedented mix of factors including Russia’s invasion of Ukraine, supply chain disruptions, inflation rise, tightening monetary policy across the world and potential recession or stagflation in certain economies, but it is expected to improve until 2026 and reach the current levels of return on assets, according ...

NBR Board decisions on monetary policy: increase the monetary policy rate to 6.25 percent per annum 

Monday, October 10, 2022

In its meeting of 5 October 2022, the Board of the National Bank of Romania decided: to increase the monetary policy rate to 6.25 percent per annum from 5.50 percent per annum as of 6 October 2022; ; to raise the lending (Lombard) facility rate to 7.25 percent per annum from 6.50 percent per annum and the deposit facility rate to 5.25 percent per ...

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