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Financial & Banking

Assets of mandatory private pension funds worth 90.47 billion RON in July, up 3 pct

Monday, September 19, 2022

Mandatory private pension funds had assets worth 90.47 billion RON at the end of July 2022, up 3 pct compared to the level recorded on July 31, 2021, according to the data of the Financial Supervisory Authority (ASF)."Investments of privately managed pension funds were aimed at Romanian assets in a percentage of 88 pct, most of them being denominated in RON. A large part of the Romanian instruments are represented by state securities or shares listed on the BVB ...

Optional pension funds' assets up in July, to 3.41 billion RON

Monday, September 19, 2022

The assets of the optional pension funds (Pillar III) were worth 3.41 billion RON at the end of July 2022, up by 5% compared to the level recorded at the same date of the previous year, according to a report of the Financial Supervisory Authority (FSA)."Most of the investments were made locally (93%), most of them being denominated in RON (91%)," the report said.Government securities held the largest share in assets, amounting to 2.102 billion RON, ...

National Agency for Fiscal Administration reports increasing revenues by 12.5% in first 8 months

Monday, September 12, 2022

The National Agency for Fiscal Administration obtained revenues of 246.2 billion RON in the first 8 months, an increase of 22.4% nominal index compared to the same period of the previous year, announced on Friday the president of the ANAF, Lucian Ovidiu Heius, during a press conference."ANAF's activity in the first 8 months of the year led to the collection of budget revenues worth 246.2 billion RON, respectively an increase of 22.4% nominal index, ...

EBRD provides EUR 100 M financing to Kaufland

Monday, September 12, 2022

EBRD granted a EUR 100 million loan to the German group Schwarz for the financing of the expansion of Kaufland operations in Romania and Moldova. The RTPR team provided legal assistance on this project.   “We are happy that we have once again advised EBRD on a new financing, this time in relation to a development project that will contribute to the ...

BCR to allow cash withdrawals in euro at its ATMs in Romania

Monday, September 12, 2022

Banca Comercial? Român? (BCR), Romania’s second-largest bank, will allow its customers to make withdrawals in euros at its ATMs in Romania.   The new function will be available starting this month, and roughly 100 ATMs in Bucharest and other large cities will allow euro withdrawals in the initial phase. The service will extend to over 300 ATMs by the end of the year, according to the press ...

IFC invests 42M US dollars in first sustainability bond in Romania

Monday, September 12, 2022

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Romania's first sustainability bond will help promote both financing in the field of climate change and that in the social field, with IFC investing the equivalent of 42 million US dollars in order to strengthen the financial sector and to promote financial inclusion in the country, informs a press release of the financial institution.Senior non-guaranteed sustainability bonds, in local currency, issued by Raiffeisen Bank S.A. (RBRO) from Romania, will help ...

Romanians withdraw less money from mutual funds in July

Monday, September 12, 2022

The investors withdrew RON 510 mln (EUR 105 mln) from local open investment funds in July, visibly less compared to previous months, according to data from the Association of Fund Administrators (AAF).   The fund's aggregated net assets were RON 10.7 bln (roughly EUR 2 bln) at the end of the month.   The largest outflows were in the segment of fixed-income (bond) funds ...

Uniqua’s Romanian subsidiary may acquire small-sized player Garanta

Monday, September 12, 2022

Uniqa Asigurari, the subsidiary of Austrian insurance group Uniqa, is reportedly in talks to take over Garanta Asigurari - another small-sized player controlled by Swiss-Greek businessman Jean Valvis and Posta Romana, according ...

Polish Inovo VC fund earmarks EUR 10-20 mln to Romanian startups

Monday, September 12, 2022

Inovo VC, a manager of venture capital funds from Poland, plans to invest about 10-20% of its third fund, seen at EUR 100 mln, in Romanian technology startups, according to Ziarul ...

Nuclearelectrica benefits from the Issuer Market Maker services provided by Wood Company

Monday, September 12, 2022

Societatea Nationala Nuclearelectrica (SNN), the sole producer of nuclear power and nuclear fuel using CANDU 6 type technology in Romania, company listed on the Bucharest Stock Exchange (BVB) since 2013, will benefit from September 7 from the issuer's market-making services provided ...

BNR: International reserves – August 2022

Monday, September 5, 2022

On 31 August 2022, the BNR’s (National Bank of Romania ) foreign exchange reserves stood at EUR 42,851 million, compared to EUR 42,768 million on 31 July 2022.   During the month, the following flows were recorded: EUR 2,878 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with ...

EBRD supporting Romanian firms affected by war on Ukraine

Monday, September 5, 2022

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EBRD lends €25 million to Banca Transilvania to support flow of credit to Romanian economy Loan will support the bank in on-lending to businesses impacted by war on Ukraine EBRD has pledged €2 billion to support companies and countries affected by the ...

FONDUL PROPRIETATEA FINANCIAL RESULTS FOR H1 2022

Monday, September 5, 2022

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Fondul Proprietatea (hereinafter “The Fund”) published today its financial results for the six months ended 30 June 2022 and would like to share the following highlights:   The Fund's share price performed well in the first part of 2022. As at the end of the first six months of the year, on 30 June 2022, the share price was RON 2.0600, implying a discount ...

Raiffeisen Bank is listing the first sustainability bonds on the Bucharest Stock Exchange

Monday, September 5, 2022

Raiffeisen Bank,  key player in the Romanian banking sector, listed on Wednesday, August 31, the first sustainability bonds issue on the Bucharest Stock Exchange ...

BNP Paribas Personal Finance Bucharest receives the Best Place to Work certification

Monday, September 5, 2022

BNP Paribas Personal Finance SA Paris Bucharest Branch, through its trademark Cetelem, joined a prestigious group of companies that are committed to the highest standards regarding the working environment and a great dedication to HR excellence. The company has been recognized and certified as one of the Best Places to Work for in Romania for 2022.   The score obtained by the company is 80% and is based both on the ...

Eurohold, owner of Euroins Romania, registers strongest half-year results in company’s history

Monday, September 5, 2022

Eurohold Bulgaria AD, a leading energy and financial group in Southeast Europe, reported record half-year results in 2022 due to the strong performance of the company’s two main businesses – electricity and insurance, according to the company’s consolidated interim financial statement.     Total revenue nearly quadrupled to EUR 1.62 billion in January-June, an absolute record-high value in the ...

Cryptocurrency Elrond now available in Revolut

Monday, September 5, 2022

Elrond EGLD, the native currency of the Romanian blockchain network Elrond, has been added to the list of cryptocurrencies available in Revolut, making it accessible for trading directly from the popular fintech app.   Launched in July 2020, Elrond presents itself as the internet-scale blockchain network that serves as the infrastructure for Web3 payments, DeFi and the new Metaverse ...

BNR: Monetary indicators – July 2022

Monday, August 29, 2022

At end-July 2022, broad money (M3) amounted to RON 575,750.0 million, up 1.1 percent ( 1.2 percent in real terms) month on month. In year-on-year comparison, broad money rose by 9.6 percent (down 4.6 percent in real terms), according to data centralized by the ...

Report: Without sustainable fiscal consolidation, it is not realistic for Romania to hope to quick accession to the euro zone

Monday, August 29, 2022

Joining the euro area is a priority for Romania and meets consensus in the political class, but high deficits and the fragility of the external balance represent major obstacles to entry into the MCS2 in the immediate perspective and then the accession itself, reveals the Convergence analysis report "Romania - MONITOR euro area" no. 10/2022, Coordinated by academician Daniel Daianu.  Without sustainable fiscal consolidation it is not ...

BVB Group reports 3.32 million RON in net profit on Q2, six times higher vs Q2 2021

Monday, August 29, 2022

 Bucharest Stock Exchange (BVB) Group obtained a net profit of 3.32 million RON in the second quarter, up 6 times compared to Q2 2021, and an individual net profit of 4.71 million RON, up more than 3 times from Q2 2021, according to a report by BVB.BVB Individual operating revenues in Q2 2022 recorded an increase of 44% compared to Q2 2021, from 5.91 million RON to 8.49 million RON, driven by trading revenues higher by 58%, on the background of significant public offerings ...

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