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Financial & Banking


Monday, November 20, 2023

Fondul Proprietatea (hereinafter “The Fund”) published today its financial results for the nine months ended on 30 September 2023 and would like to share the following highlights:   During the third quarter of 2023, the Fund Manager managed to successfully list its holding in Hidroelectrica on the Bucharest Stock Exchange, the largest ever IPO in Romania. It also proceeded to ...

iBanFirst Forecast: How will the De-Euroization and the rise of the Chinese Yuan impact Romanian trade companies  

Monday, November 20, 2023

  The euro’s share in international payments fell from 38% to 23%, while the US dollar remains strong with a 42% share. This reflects the changes in Europe’s energy sector, reduced intra-European trade and the declining competitiveness of European companies.   The de-euroization trend may ...

Alpha Bank Romania launches Instant Payments

Monday, November 20, 2023

Alpha Bank Romania launches instant payments, through which customers – both individuals and legal entities – can send and receive money in a few seconds, at any time: 24 hours a day, 7 days a week, 365 days a year.   Through Alpha Bank Romania’s participation in the instant payment scheme made available by TRANSFOND, customers can receive or send money via online banking, in just a few seconds, to almost ...

Mandatory private pension funds reach assets of 117.18 billion RON in September

Monday, November 20, 2023

Mandatory private pension funds (Pillar II) had assets worth 117.18 billion RON, at the end of September, up 32.1% compared to the level recorded at the same date in 2022, according to the statistics of the Financial Supervisory Authority (ASF)."The investments of privately managed pension funds were made in a percentage of 93% in Romanian assets, most of them being denominated in RON (national currency). A large part of the Romanian instruments are ...

IFC Partners with Raiffeisen Bank to boost sustainable growth in Romania

Monday, November 20, 2023

To help diversify financial products for green and inclusive finance in Romania, IFC has invested €50.8 million in a bond issued by Raiffeisen Bank S.A. (RBRO), a member of the Raiffeisen banking group—the bank’s first EUR-denominated international bond issuance under its sustainability bond framework.   The proceeds from the bond will be used to finance climate projects, including loans and credit lines ...

Idea Bank Transforms Into Salt Bank, Romania’s First All-Digital Bank

Monday, November 20, 2023

  Idea Bank has announced that it will change its name to Salt Bank and become the first 100% digital bank in Romania, according to a statement. The Polish bank was acquired two years ago by Banca ...

Mastercard, Digital Payments Index: Cash, card at the POS and account-to-account transfer, top 3 payment methods for Romanians

Monday, November 20, 2023

Romanians rely on cash for most everyday purchases, but they also commonly use widespread digital payment solutions, such as contactless POS terminals. There is a significant potential to improve the degree of understanding by users of digital payments, the level of knowledge of Romanian consumers regarding digital payment methods scoring 55 points out of 100, according to the Digital Payments Index, a report developed by Mastercard, which analyzes the evolution digital ...

EBRD and Banca Transilvania support growth of e-commerce delivery services in Romania

Monday, November 13, 2023


Banca Transilvania lends €25.3 million to Romania’s Delivery Solutions S.A., which operates under the brand Sameday  Loan to support company’s medium-term investment plans and expand the Sameday easybox delivery locker infrastructure EBRD to cover 65 per cent ...

Alpha Bank Romania 9M 2023 financial results highlights

Monday, November 13, 2023


    Alpha Bank Romania continued its balanced and responsible strategy, with the financial results of the first 9 months reflecting the positive evolution of commercial activity and the commitment to supporting the Romanian economy:   The net loan portfolio grew 10.3% compared to the same period last year, a ...

Banca Transilvania closer to taking over OTP Bank’s Romanian subsidiary

Monday, November 13, 2023

Of the two bidders registered at the National Bank of Romania (BNR) to purchase OTP Bank Romania, it seems that Banca Transilvania is close to the ...

ARB: Romania-based banks did not increase cash transaction fees

Monday, November 13, 2023

Romania-based banks did not increase fees for cash transactions following the coming into force of the law that changes the ceilings for cash payments and receipts, the Romanian Banks Association (ARB) said after Monday's meeting with Prime Minister Marcel Ciolacu, pointing out that the banking system supports the growth of financial inclusion in Romania, which is currently the lowest among the European Union states, at just 69 percent, the ARB said in a ...

ASF: Private pensions market is largest of the three supervised

Monday, November 13, 2023

The private pensions market is the largest of the three markets supervised by the Financial Supervisory Authority (ASF), with an asset share of approximately 8.3% of GDP, said Dan Armeanu, vice-president of the Private Pension System Sector, on Tuesday."In the 15 years, the private pension system has grown from one period to another and has become the most important component of the non-banking financial system in Romania. The private pension market is the ...

 Exim Banca Romaneasca, one of key institutions for Romania's accession to the OECD 

Monday, November 13, 2023

Exim Banca Romaneasca is one of the key institutions supporting the process of Romania's accession to the Organization for Economic Co-operation and Development (OECD), a country project of similar significance to those related to EU and NATO membership, said the bank's executive chairman, Traian Halalai."Exim Banca Romaneasca has extensive experience in establishing common technical positions at EU level on financial instruments through which governments ...

Banca Transilvania posts three-quarter net profit of RON 1.86 bln

Monday, November 13, 2023


 Banca Transilvania Financial Group's three-quarter net consolidated profit amounted to over RON 2.291 billion, with the bank's profit standing at more than RON 1.859 billion.Retail and corporate loans over the reporting period were 4 percent higher year-over-year, and the balance of net loans and leasing receivables reached RON 72.6 billion, 6.75 percent higher compared to end-December 2022 and up by approximately 70 percent from three years ...

PayU GPO Romania: 46% of all processed transactions are made with a previously saved card

Monday, November 13, 2023

In the first 9 months of this year, PayU GPO Romania, the leader of local online payment market, registered a 25% increase in processed volumes, compared to the reference interval of 2022. From the point of view of the number of transactions it registered 18% more transactions than in the same period last year.   The volume of payments made through a single click has an accelerated pace of adoption among online consumers, ...

OTP's Romania unit swings to profit during Jan-Sept

Monday, November 13, 2023

Hungarian financial services group OTP said on Friday that the after-tax profit of its Romanian unit OTP Bank Romania totalled 18 billion Hungarian forints ($50.9 million/47.7 million euro) in the first nine months of the year, compared to a loss of 1 billion forints in the prior-year period, https://seenews.com/ ...

Just eight of 41 insurance companies active in Romania offering RCA services

Monday, November 13, 2023

 There are 41 insurance companies active in Romania, but only six of the licensed ones and two branches offer third-party liability car insurance (RCA), president of the Financial Studies Institute (ISF) and head of the Financial Supervision Authority's (ASF) Insurance Directorate-General Valentin Ionescu said on Thursday."Although there are 26 licensed insurance companies supervised by the ASF, given that we belong to the EU single market, we have ...

PKO Bank Polski Enters Romanian Market

Monday, November 6, 2023


PKO Bank Polski, Poland’s largest bank by assets, is set to begin its operations in Romania from early next year. The Polish banking giant’s entry into the Romanian market is driven by the record profitability rates of banks in Romania.   In Romania, PKO will exclusively work with corporate clients (SMEs and large companies). The bank will also facilitate financial operations for Polish companies and other ...

CEC Bank - TAROM partnership to be signed

Monday, November 6, 2023

CEC Bank is signing a partnership with TAROM, which will provide payment acceptance services for bank cards issued under the Visa and Mastercard logos, by taking over the settlement of card transactions carried out on international markets, which has so far been carried out by a bank outside Romania, the bank announced on Monday."Two traditional Romanian brands have decided to join hands to sign a partnership in the area of card transactions. Our bank is an important player, ...

BCR Group, net profit of 1.698 billion RON in first nine months

Monday, November 6, 2023

  BCR Group posted a net profit of 1.698 billion RON (343.8 million EUR) in the first nine months of this year, up 10.3% compared to the same period in 2022, on the back of improved operational performance underpinned by a higher volume in customer business, the bank announced on Monday.In the first nine months of 2022, BCR Group posted a net profit of 1.539 billion RON (312 million EUR).According to the bank, general administrative expenses amounted to ...

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