Loading page...

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

Subscribe|Login

Financial & Banking

Pension system in Romania affected by structural inequalities, special pensions , unjustified early pension

Monday, February 5, 2024

The pension system in Romania is affected by structural inequalities, the existence of special pensions, early, unjustified retirement, according to an analysis made by the European Institute for Economic Studies.   “The latest amendment provides a 40% pension increase as of 2024. This model points out the way in which Pillar 1 of the pension system is frequently used by politicians to ensure ...

Exim Banca Romaneasca launched the mobile banking application e-ximBanking

Monday, February 5, 2024

Exim Banca Romaneasca continues the digital transformation process and launches the Mobile Banking application – e-ximBanking – to offer the bank’s retail customers an improved banking experience through the mobile devices.   The application, available in Google Play and App Store, offers the user a wide range of options – unlimited access to accounts, the possibility to make ...

EY CFO Imperative: Finance’s Data Strategy And Talent Ambition

Monday, February 5, 2024

The finance function evolves in the current business environment and it must become more involved in data strategy and analytics, more connected across the organization, and led by a talent strategy that embraces both skills diversity and cultural change, concluded the latest edition of the EY study – CFO Imperative: How bold mindsets lead transformation, released on February 1st, ...

SocGen explores option of selling Romanian subsidiary BRD

Monday, February 5, 2024

French financial group Societe Generale hired JP Morgan to explore the possibility of selling its entity in Romania, BRD – the third-largest player on the local market by assets. The process is at an early stage, but there is already interest from several prospective ...

Multiple records in 2023 at BVB: capitalization of over 300 bn RON, indices at historical highs

Monday, February 5, 2024

  The year 2023 was a chapter of unprecedented performances for the capital market in Romania, recording historical highs on several levels, such as the value of transactions with shares and bonds, average daily liquidity, stock market indices, the value of market of the companies, reads a press release from the Bucharest Stock Exchange (BVB).According to the cited source, one of the key moments of 2023 was the successful completion of the ...

Investment funds close 2023 with assets worth almost RON 38 billion

Monday, February 5, 2024

Open-ended investment funds and alternative investment funds closed 2023 with assets of nearly RON 38 billion, Jan Pricop, executive director of the Fund Managers Association (AAF), said Tuesday."In the last 10 years we have a 39% growth in assets across the whole market in the two segments: open-ended investment funds and alternative investment funds. We closed 2023 with assets worth almost RON 38 billion, of which just over RON 20 billion in open-ended ...

Budget Deficit In 2023 Was 5.68% Of GDP

Monday, February 5, 2024

The execution of the general consolidated budget for 2023 ended with a deficit of 89.90 billion lei, respectively 5.68% of GDP, down from 5.76% as represented by the negative balance of 2022, according to the data displayed by the Ministry Finances.     The budget deficit target was 4.4%.   The Minister of Finance, Marcel Bolos, ...

Erste Group: Romania’s Economic Sentiment Indicator Stable at the Start of 2024

Monday, February 5, 2024

In the opening month of 2024, Romania’s Economic Sentiment Indicator (ESI) showed marginal stability, inching down slightly to 102.3 compared to December’s reading of 102.4, according to a recent report from Erste Group. The nuanced shifts in sentiment were reflected across various sectors, offering a diverse outlook for the nation’s economic ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 12 January 2024

Monday, January 29, 2024

Publishing date: 25 January 2024 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; Leonardo Badea, Board member and Deputy Governor of the National Bank of Romania; Eugen Nicolaescu, Board member ...

EY Analysis: European financial services M&A deal volume fell in 2023, and total deal value hit a decade-low

Monday, January 29, 2024

The European financial services industry announced a 3% year-on-year fall in M&A deals in 2023, with 641 deals across the region, compared to 661 deals in 2022, according to the latest EY financial services M&A analysis. The total disclosed deal value also fell; from €50.0bn in 2022 to €34.7bn in 2023, representing the lowest annual value recorded since 2013.   Iulia Bratu, Partner, Head of Lead Advisory, ...

Banca Transilvania and VIG in race for BRD-SocGen’s pension funds

Monday, January 29, 2024

Banca Transilvania (BT) and Vienna Insurance Group (VIG) are competing to buy BRD Pensii – the pension fund management arm of BRD-SocGen financial group in ...

iBanFirst Romania reports 97% growth in FX risk hedging services in 2023

Monday, January 29, 2024

iBanFirst reports a remarkable 97% increase in FX risk hedging deals for Romanian companies in 2023 amid global economic uncertainties, emphasizing the pivotal role of risk management solutions, with expectations for a further reinforcement this year. In 2023, risk management solutions accounted for 40% of iBanFirst’s revenues on the local market. As ...

Driving European competitiveness, stability and climate leadership – EIB Group invests €88 billion in 2023

Monday, January 29, 2024

EIB Group signed €88 billion in funding for over 900 high-impact projects in key policy areas such as transport infrastructure and urban mobility, energy and water, digitalisation, new technologies, innovation, healthcare, affordable housing, education and support to SMEs A record €49 billion invested in green ...

Banca Transilvania Buys OTP Bank Romania

Monday, January 29, 2024

OTP Bank, the largest bank in Hungary, is close to completing the transaction by which it will sell its unit in Romania to Banca Transilvania, banking sources told Bloomberg.   A deal could be announced soon, two sources said, while a third said the deal would be announced before the end of the first quarter of 2024.   Talks between Banca ...

Assets of privately managed mandatory pension funds at RON 121.56 bln as of end-November

Monday, January 29, 2024

Total assets held by Romania's privately-managed pension system (Pillar II) stood at RON 121.56 billion as of end-November 2023, up 27 percent YoY, the Financial Supervisory Authority (ASF) reports.To an extent of 93 percent, investments by privately managed pension funds were in Romanian assets, most of them denominated in RON. A considerable chunk of the Romanian instruments is represented by government securities or BVB-listed shares, the report ...

Household and business deposits up 3.3 pct month-on-month in December 2023

Monday, January 29, 2024

The deposits of non-government resident customers were 3.3 percent up in December 2023 from the previous month, to RON 573.951 billion; compared to December 2022, the advance was 11.8 percent (4.3 percent in real terms), the National Bank of Romania (BNR) informs in a release on Tuesday.RON-denominated deposits of residents, accounting for 70 percent of the total deposits of non-government customers, increased 4.8 percent from November 2023, to RON 401.755 ...

Optional pension funds, assets of 4.54 billion RON, in November 2023

Monday, January 29, 2024

Optional private pension funds (Pillar III) had assets worth 4.54 billion RON, at the end of November 2023, an increase of 27% compared to the level recorded on the same date of the previous year, according to a report from the Financial Supervisory Authority (ASF)."Most investments were made locally (96%), most of them being denominated in RON (90%)," the report states.According to the quoted source, the value of contributions transferred in ...

Non-governmental credit balance up by 0.7% in December 2023

Monday, January 29, 2024

The balance of non-governmental credit granted by credit institutions increased, in December 2023, by 0.7% compared to November 2023 (0.5% in real terms), up to the level of 387.077 billion RON, according to the data published on Tuesday by the National Bank of Romania.The RON-denominated credit, with a weight of 68.4% in the total volume of non-governmental credit, increased by 0.7%, and the foreign currency RON-denominated credit, with a weight of 31.6% in ...

Report:Romania has among most affordable mortgage loans in European Union

Monday, January 22, 2024

Romania has among the most affordable mortgage loans in the European Union, taking into account the national average salaries and the cost of buying a two-room apartment with a 25-year mortgage loan, reveals a report by SVN Romania Credit & Financial Solutions.Thus, the average rate for the purchase of a two-room apartment (a two-room apartment in Romania is a one bedroom, one living-room apartment, English editor's note) in Bucharest at the end of last year was about ...

Pillar II pension beneficiaries paid over RON 2 bl

Monday, January 22, 2024

 Pillar II pension beneficiaries have been paid over RON 2 billion, almost half of which in 2023 alone, according to the Association of Privately Managed Pension Plans in Romania (APAPR)."Mandatory private pension plans (Pillar II) have made approximately 153,000 payments to beneficiaries (contributors and survivors), with the total amount exceeding RON 2 billion in 2008-2023. Almost half of the amount - 46%, or RON 932 million - was paid in 2023 alone," APAPR ...

Premium News

Daily

Friday, December 6, 2024

Financial & Banking

Monday, December 2, 2024

Economic

Tuesday, December 3, 2024

Companies

Wednesday, December 4, 2024

Energy & Environment

Thursday, December 5, 2024