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Financial & Banking

ECB and BNR have agreed to extend the framework arrangement to provide euro liquidity to the BNR via a repo line until March 2022

Monday, February 8, 2021

The European Central Bank (ECB) and Banca Na?ional? a României (National Bank of Romania - BNR) have agreed to extend the framework arrangement to provide euro liquidity to the BNR via a repo line until March 2022.   Last year’s arrangement was made to prevent the possible emergence of euro liquidity needs in the presence of market dysfunctions due to the ongoing COVID-19 ...

EIB Group and Deutsche Leasing Romania strengthen support for business impacted by COVID-19

Monday, February 8, 2021

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First cooperation unlocks €370 million private sector financing SMEs across Romania benefit from cheaper leasing finance Initiative increases financing for agriculture and equipment investment Majority of borrowers in rural areas and less developed regions First ...

Long way to recovery from pandemic’s economic damage

Monday, February 8, 2021

The COVID-19 pandemic took a painful toll on Romania’s economy in the second quarter of 2020, when gross domestic product (GDP) plunged by 12.2 percent compared to the previous quarter, http://business-review.eu/ reads.   But despite the fact that most restrictions were ...

Romania, on the European Fintech map based on investments

Monday, February 8, 2021

*Romania is on the 20th place in a ranking of the countries that have raised the most investments in the fintech field, according to tech.eu.   With five notable financings, Romania is thus in a club of select countries with companies in the fintech sector, being surpassed by countries such as Estonia, with 7 investments, Luxembourg, with 7 investments, and Austria, with 11 ...

McKinsey & Company: Banks' net revenues in Romania, by risk cost, could fall by almost 58 billion lei

Monday, February 8, 2021

 Romanian banks could see a decrease of about 58 billion lei in net revenues after the cost of risk, until 2025, compared to the revenues expected before the pandemic, due to risk costs and lower volumes, reveal the data of the latest McKinsey & Company analysis, sent on Wednesday.Banks could face two stages of challenges in the coming months and years, according to the McKinsey Global Banking Annual Report, published in December 2020. As a first ...

Gov't approves three-month extension of withdrawal deadline for IBRD healthcare reform loan proceeds

Monday, February 8, 2021

The government approved today the amendment regarding the three-month extension until March 31, 2021 of the deadline for the withdrawal of the proceeds of a 250 million euro the International Bank for Reconstruction and Development  (IBRD) loan granted for the reform of the Romanian healthcare system."The Decision of the ...

Banca Transilvania up in the brand finance banking 500 2021

Monday, February 8, 2021

Banca Transilvania is climbing in the Brand Finance Banking 500 2021 up to the ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 15 January 2021

Monday, February 1, 2021

On 15 January 2021, the Board of the National Bank of Romania held a meeting in which the following members took part: Mugur Is?rescu, 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 Romania; Eugen Nicol?escu, Board member and Deputy Governor of the National Bank of Romania; ...

Pillar II pension funds' 2020 average rate of return at 6.19 pct, threefold inflation rate

Monday, February 1, 2021

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Mandatory privately-managed pension funds (Pillar II) achieved in 2020 an average rate of return of 6.19 percent, three times higher than last year's inflation rate, president of the Association of Romania's Privately-managed Pension Funds (APAPR) Radu Craciun said .He pointed out that, in monetary terms, Pillar II funds generated in 2020 an exclusive net gain of 900 million euros net of fees."The average annualized return from the beginning of the ...

Stock Exchange president:Nice decade-long evolution of local capital market in terms of liquidity, listed companies' value

Monday, February 1, 2021

The local capital market has evolved nicely both in terms of liquidity and of the value of the listed companies, president of the Bucharest Stock Exchange (BVB) Radu Hanga told a news conference today dedicated to the 10th anniversary of the listing of Fondul Proprietatea (FP)."I remember that ten years ago, when Fondul Proprietatea made its debut on the Stock Exchange, the world was just starting to come around after the shock of the 2007 - 2008 financial crisis. ...

Deloitte study: Romania had one of the largest number of banking transactions in the region

Monday, February 1, 2021

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The COVID-19 crisis is expected to accelerate the consolidation of the banking sector in the Central and Eastern Europe (CEE) in the following years, as smaller players might not be able to weather the profitability and capital challenges, according to the latest edition of Deloitte CEE banking M&A ...

Government resumes once again the recalculation of public pensions

Monday, February 1, 2021

Romania's labor minister Raluca Turcan announced that all the 5 million pensions in Romania would be recalculated in the next 18 months, in line with "the new pension law to be passed by the new ruling ...

Sale of Credit Agricole Romania to Vista Bank slightly delayed

Monday, February 1, 2021

The Greek shareholders of Vista Bank do not yet have a sale-purchase contract signed with French group Credit Agricole, even if they previously announced an agreement to buy its Romanian subsidiary, according to sources in the banking market familiar with the ...

EGLD digital currency, launched by Sibiu residents from Elrond, reached a capitalization of 1 billion dollars

Monday, February 1, 2021

The capitalization of EGLD, a cryptocurrency launched by Romanian startup Elrond, reached USD 1 billion - prompting headlines about the second Romanian unicorn (after the robotic process automation, or RPA, leader ...

Romanians invest over 955 million RON during first issue of Tezaur government bonds in 2021

Monday, February 1, 2021

Romanians have invested over 955 million RON during the first issue of Tezaur government bonds launched by the Ministry of Finance, of which 850,425,746 RON through the operating units of the State Treasury and 104,853,554 RON through the official postage network of the Romanian Post National Company.According to a press release sent on Friday, this represents the highest subscribed monthly value by investors within a Tezaur issue. Thus, the first issue of ...

Romanians abroad send an average of EUR 500 per month back home

Monday, February 1, 2021

A Romanian working abroad sends, on average, EUR 500 per month back home, representing about a quarter of the money he earns in a month, according to data from TransferGo, an international online money transfer company.   "This value is quite high, given that the income of a Romanian working in the UK or Spain, for example, is about EUR 2,000. Basically, the amount sent to the country represents a quarter of the money he ...

The Authority for Financial Supervision published The Strategy 2021-2023

Monday, January 25, 2021

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The Authority for Financial Supervision (ASF) has launched The Strategy for the period 2021-2023, document which was drawn up in accordance with the new context generated by the pandemics Covid-19, announced the institution on Wednesday.‘The strategic objectives for the mentioned interval were re-analysed and updated, in correlation to the most recent policies adopted at European level: the new Plan for Action for the Union of Capital ...

Study: the percentage of Romanians who withdraw cash from ATMs was reduced by 30 points against five years ago

Monday, January 25, 2021

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The percentage of people who withdraw cash from ATMs was reduced by 30 percentage points against five years ago, and two out of three Romanians (67%) use banking products and services of any kind, such as current accounts,cards, loans,deposits and payments,according to a study made by the Romanian Institute for Evaluation and Strategies (IRES) and commissioned by the Romanian Association of ...

ASF: Overall transaction value on BVB and SMT markets reached 12.69 billion lei in first 9 months of 2020

Monday, January 25, 2021

The total transaction value on BVB and SMT markets reached 12.69 billion lei in the first 9 months of 2020, on the rise by 56.27% compared to the same period of 2019, while the number of transactions made at BVB grew by 69.14% in the reference period, according to data released on Thursday by the Authority of Fiscal Supervision (ASF).   On September 30, 2020, stock exchange capitalization reached 134.6 ...

Study: Romanians’ expectations for the banking sector in 2021

Monday, January 25, 2021

After a year full of uncertainties, defined by rapid changes and immediate adaptation, it is important to look at how institutions manage to continue to meet the needs and expectations of their customers.   Thus, Reveal Marketing Research conducted a study on Romanians’ expectations regarding banks in the current context, at the beginning of 2021. As we move more and more in the online environment, and efficiency ...

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