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Financial & Banking

IMMOFINANZ Results in 2021: 46% increase in results of operations, net profit reaches EUR 346 million

Monday, May 2, 2022

The 2021 financial year brought a massive increase in IMMOFINANZ’s earning power: The results of operations rose by roughly 46% to EUR 210.1 million and clearly topped the previous year as well as the pre-crisis period in 2019. Net profit improved significantly to EUR 345.8 million, compared with the crisis-related loss of EUR -165.9 million in the previous year.   IMMOFINANZ successfully implemented its ...

Study: In 2022, BVB investors expect good performance from IT&C and Energy & Utilities Companies

Monday, May 2, 2022

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Cornerstone Communications, a local consulting firm specializing in investor relations and capital markets advisory, together with MIA Marketing, a Romanian market research company, publish a new series of results from the study dedicated to the capital market and analysis of the behaviour of Romanian retail investors. The study was conducted between December 2021 and January 2022 on a sample of 177 local retail investors with exposure to companies listed on the ...

Banca Transilvania continues integration of Idea::Bank after takeover

Monday, May 2, 2022

Romania’s largest financial group Banca Transilvania announced the first services made available to the customers of Idea::Bank, as well as the launch of an information microsite.   Banca Transilvania took over Idea::Bank in 2021, and since then, it has been integrating it into its banking system.   The integration of Idea::Bank into ...

Insurers: Protection deficit of income-generating population in Romania is worth 121 billion euros

Monday, May 2, 2022

  The protection deficit of the income-generating population in Romania, in case of occurrence of insured risks, amounts to a value of 587 billion RON (121 billion euros), according to a study conducted for the National Union of Insurance and Reinsurance Companies in Romania (UNSAR) by a group of independent experts.According to the most recent data, for many families in Romania, the occurrence of an unwanted event (accident, illness of a family ...

Polish Payment Fintech BLIK sets its sights on Romania

Monday, May 2, 2022

BLIK, a modern mobile payment system that was launched with the support of all major banks in Poland in 2015, is currently the most popular way to pay in this country. 21 million users of mobile banking applications in Poland already have access to BLIK, and over 10 million people use it regularly for payments. BLIK’s founders are now looking at expansion possibilities  in other EU countries, the priority being Romania, CEE’s second biggest market. BLIK ...

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

Monday, April 18, 2022

15 April 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 Badea, Board member and Deputy Governor of the National Bank of ...

BNR: Balance of payments and external debt – February 2022

Monday, April 18, 2022

  In January - February 2022p, the balance-of-payments current account posted a deficit of EUR 2,252 million, compared with EUR 1,442 million in the same year-ago period, the Central Bank (BNR) informs.   The breakdown shows that the deficit on trade in goods widened by EUR 1,192 million, the surplus on services increased by EUR 131 million, that on ...

Fitch Downgrades Romanian Garanti Bank S.A.'s SSR to 'b'; Affirms IDR at 'BB-'/Stable

Monday, April 18, 2022

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Fitch Ratings - Warsaw - 14 Apr 2022: Fitch Ratings has downgraded Garanti Bank S.A.'s (GBR) Shareholder Support Rating (SSR) to 'b' from 'b+'. At the same time GBR's Long-Term Issuer Default Rating (IDR) is affirmed at 'BB-' with Stable Outlook and Viability Rating (VR) at 'bb-'. A full list of rating actions is detailed below. The downgrade of the SSR follows the recent downgrade of GBR's 100% shareholder, ...

Bucharest Stock Exchange launches its first ESG guidelines with EBRD support

Monday, April 18, 2022

Bucharest Stock Exchange publishes ESG reporting guidelines, developed with EBRD support Guidelines steer issuers’ non-financial reporting to address investor ESG expectations In 2021, EBRD invested €546 million in Romania. Total commitments top €9.5 ...

Almost RON 11 billion paid by BAT to the state budget in 2021

Monday, April 18, 2022

BAT was Romania’s biggest taxpayer in 2021, with a total contribution of almost 11 billion lei (€2,2 billion) in excise and taxes to the state budget, an increase of over 10% versus 2020. BAT is also one of the top exporters of agricultural products processed in Romania, with over 60% of the volumes produced in Ploie?ti, cigarettes and tobacco heating consumables, being exported to tens of other countries from ...

Moody’s upgrades to A2 the rating of the covered bonds issued by Alpha Bank Romania

Monday, April 18, 2022

Rating agency Moody’s Investors Service upgraded by one notch, to A2 from A3, the rating of the covered bonds issued by Alpha Bank Romania.   The A2 rating reflects, among others, the high quality of Alpha Bank Romania’s mortgage portfolio, strong Romanian legal framework for covered bonds as well as the bank’s resilience and stability. The upgrade of the ...

KYC technology provider Qoobiss enables Credius to offer credit loans and verify users’ identity by selfie

Monday, April 18, 2022

Romanian startup Qoobiss has provided the automated KYC technology for identity verification via selfie, offered by non-bank financial institution Credius, in order to ensure the fastest credit loan process on the Romanian market.   Credius has launched the credit by selfie product for its clients with the help of the advanced identity verification technology provided by Qoobiss, which ...

The total trading value with the shares listed on the Bucharest Stock Exchange doubles in the first 3 month to over EUR 1 billion

Monday, April 18, 2022

  The value of transactions performed in the first 3 months of this year with the shares of companies listed on the Bucharest Stock Exchange (BVB) exceeds the value from the first 6 months of last year.   The total trading value for equity transactions increased in the first quarter of the year by 105% compared to the same ...

BNR Board decisions on monetary policy

Monday, April 11, 2022

The Board of the National Bank of Romania (BNR), having convened for the meeting of 5 April 2022, decided:   to increase the monetary policy rate to 3.00 percent per annum, from 2.50 percent per annum, as of 6 April 2022; to raise the lending (Lombard) facility rate to 4.00 percent per annum from 3.50 percent per annum and the ...

Fitch affirms Romania at 'BBB-'; Outlook Negative

Monday, April 11, 2022

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* Fitch Ratings has affirmed Romania´s Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Negative Outlook.   KEY RATING DRIVERS   Credit Fundamentals: Romania's 'BBB-' rating is underpinned by EU membership and EU capital flows that supports investment and macro-stability, and GDP per capita, ...

Tradesilvania.com and TechVentures Bank are entering into an innovative partnership

Monday, April 11, 2022

Tradesilvania.com, the premium platform for investing in digital goods, is consolidating its position on the market through a new strategic partnership with TechVentures Bank, through which Romanians will be able to safely access digital assets.   Thus, this partnership keeps customers’ funds in the national banking system and gives them faster access to their funds withdrawn from the ...

The NN Health Insurance covered medical costs worth RON 24 million in 6 years

Monday, April 11, 2022

Romania is among the European countries with a significant protection gap, with many families lacking the financial resources they would need to cover expenses in an unforeseen situation.   Launched in 2016, on World Health Day, the NN Health ...

Banker Mihai Precup appointed as Secretary of State at the Ministry of Finance

Monday, April 11, 2022

Mihai Precup, with experience as a banker, was appointed Secretary of State at the Ministry of Finance by Nicolae Ciuc?, the Romanian Prime Minister. A former lecturer at the Sorbonne, he worked for 6 years at the EIB and specializes in capital markets and monetary policy.   Precup was a lecturer at the Sorbonne University, worked for 6 years at the European Investment Bank (EIB), as well as at BNP Paribas. Prior ...

BCR continues the financing through capital market

Monday, April 11, 2022

Banca Comerciala Romana (BCR), one of the most important financial groups in Romania, lists on Friday, April 8, on Bucharest Stock Exchange’s Main Market a new issue of corporate bonds, worth RON 351.5mn, under the stock ...

Moody’s Investors Service upgrades Alpha Bank Romania’s deposit ratings

Monday, April 11, 2022

The rating agency Moody’s Investors Service upgraded the long-term deposit rating of Alpha Bank Romania to Ba1 from Ba2, as well as the rating for the bank’s Baseline Credit Assessment (BCA) to ba3 from b1.   The outlook on the long-term deposit was changed to stable from positive. The rating action was triggered by a similar action on the Greek parent Bank, Alpha Bank S.A. (the long-term ...

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