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Financial & Banking

Garanti BBVA recorded a total loan volume of 9.2 billion lei in 2023

Monday, May 20, 2024

  Garanti BBVA Romania recorded a net profit of 177 million lei in 2023 and operating revenues of 521 million lei. With these results, the bank successfully achieved its targets set for the previous year. Garanti BBVA recorded solid results both in terms of loans and deposits, reflecting the organization`s focus on maintaining a strong and balanced portfolio.   Thus, Garanti BBVA recorded a total loan ...

2024 monthly Pillar II collections, 50 pct higher than last year

Monday, May 20, 2024

   The monthly amount transferred in contributions to mandatory private pension schemes (Pillar II) is currently 50 percent higher than a year ago and double the figure 4 years ago, the Association of Romania's Privately-managed Pension Funds (APAPR) announced on Monday.According to the cited source, the managers of the mandatory private pension providers recently sent annual reporting letter No. 100,000,000 to one of the more than 8 ...

OTP Bank Romania's Q1 consolidated net profit at RON 2 ml

Monday, May 13, 2024

 OTP Bank Romania's Q1 consolidated net profit was RON two million, down 88 percent year-over-year, the financial institution said in a release on Friday.The result was influenced by the lower revenues compared to the previous quarter, the higher operating expenses, and the new tax introduced in the banking sector in 2024, which requires the bank to pay an additional 2 percent of turnover. Consequently, the payable tax is now in excess of RON 13 million compared to RON ...

iBanFirst study: The 5 critical challenges of CEE companies expanding globally based on insights from the region’s pioneering global businesses

Monday, May 13, 2024

-   IMF projecting a 2.8% GDP growth for Romania, and 3.1% GDP growth for Emerging and Developing Europe overall - surpassing the 1.7% of advanced economies, CEE is becoming a critical region for international business expansion.   -  As pioneering global businesses in CEE mature, they share challenges such as managing regional brand perceptions, accessing capital, managing local talent, understanding diverse consumer ...

First Bank to be taken over by Intesa Sanpaolo Bank

Monday, May 13, 2024

The Competition Council authorized the transaction by which Intesa Sanpaolo SpA intends to take over First Bank, according to a press release from the competition authority.According to the institution, Intesa Sanpaolo SpA is active mainly in the financial-banking field, being the parent company of the Intesa Sanpaolo group. The Intesa Group is present in Romania through its Romanian subsidiary, Banca Comerciala Intesa Sanpaolo Romania.First Bank is a credit ...

CEC Bank continues to support Romanian entrepreneurs in 2024 through governmental SME Plus Programme

Monday, May 13, 2024

 CEC Bank supports Romanian entrepreneurs and reconfirms its long-term commitment to the Romanian economy also in 2024 as well, by providing subsidized interest loans through the government's SME Plus Programme, the bank announced on Tuesday."We have the necessary expertise and experience to be able to identify the best solutions for our clients to access these loans under the advantageous conditions of the Programme," said Ramona Ivan, director of National and Foreign ...

EIB: Advancing sustainable finance in Central, Eastern and South-Eastern Europe

Monday, May 13, 2024

The European Investment Bank (EIB) released the extensive research conducted by the Vienna Initiative working group on climate change and financial stability, entitled Greening the financial sector: A ...

BCR Group, net profit of RON 620 million in first quarter of 2024

Monday, May 13, 2024

BCR Group recorded a net profit of RON 620 million (EUR 125 million) in the first quarter (Q1) of 2024, up 10.1% compared to 563 million RON (EUR 114 million) in the same period of 2023, due to an improved operational performance, supported by a higher volume of business with clients, informs the bank on Tuesday in a statement.The operating result improved by 20.3% to 918 million RON (185 million euros) in Q1 2024, from 763 million RON (155 million euros) in Q1 2023, on the ...

Over a million ING customers gained financial security via NN insurance, receiving over 25 million euros

Monday, May 13, 2024

NN Romania and ING Bank Romania have supported over 1 million customers to benefit from financial protection through solutions developed as part of the strategic partnership started 10 years ago, including life, health, job loss and loan insurance. In the situations covered, customers who needed their insurance or their families have received a total of 25 million euro in benefits to date. “Starting this year, the insurance portfolio developed together with ING ...

Garanti BBVA launches GIA chatbot to streamline customer interactions

Monday, May 13, 2024

Garanti BBVA, one of Romania’s most dynamic banks, reaffirms its commitment to digitization by launching the state-of-the-art GIA chatbot, designed to enhance customer experience and simplify support services.   The GIA virtual assistant, with a friendly appearance, is available on all devices (smartphone, tablet, or desktop) and can respond to customer inquiries in two languages, Romanian and English, ...

The Ministry of Finance listed at the Bucharest Stock Exchange Fidelis government bonds of almost RON 3.2bn 

Monday, April 29, 2024

The Ministry of Finance (MF) attracted RON 1.27bn and EUR 383.6mn through five issues of government bonds for retail investors (Fidelis), the largest amount raised by the Romanian State through this type of securities. Blood donors bought Fidelis government bonds worth over RON 266mn, at an interest rate of 7% p.a. Through the 16 offers held since August 2020, the Ministry of Finance attracted almost RON 29.5bn (EUR 6bn) from the retail ...

Vista Bank supports green investments: financing of €13.9 million to Alive Wind Power One

Monday, April 29, 2024

Vista Bank Romania granted to the company Alive Wind Power One, part of the Premier Energy PLC Group, an investment loan in the amount of 13.9 million euros. The purpose of the facility is to finance the purchase of a wind power park located in Drânceni (Vaslui county) with a total installed power of up to 18 MW.   Georgios Athanasopoulos, CEO Vista Bank, said on the occasion of the signing: “We are glad to grant this credit facility to Alive Wind Power ...

The Joint Initiative on Circular Economy to provide €16 billion to circular projects by 2025

Monday, April 29, 2024

At the World Circular Economy Forum 2024, the European Union’s largest public promotional banks and institutions — Bank Gospodarstwa Krajowego (BGK — Poland), Caisse des Dépôts Group (CDC — France), including Bpifrance, the French national investment bank, Cassa Depositi e Prestiti (CDP — Italy), Instituto de Crédito Oficial (ICO — Spain) and KfW (Germany) — and the European Investment Bank (EIB) announced that they had exceeded ...

Bucharest Stock Exchange launches the new edition of the program dedicated to Romanian entrepreneurial companies

Monday, April 29, 2024

Bucharest Stock Exchange launched a new edition of the program dedicated to promoting Romanian entrepreneurial companies, which will be called BVB Arena from this year onwards. The transformation that the program undergoes reinforces the mission of Bucharest Stock Exchange to position itself as the main financing channel for Romanian companies and to promote companies that contribute to the development of the local economy All details about the BVB Arena and ...

Kearney Retail Banking Radar 2024: Retail bank cost-income ratio drops in 2023 and profit per customer rises

Monday, April 29, 2024

  Leading global consultancy Kearney has released the sixteenth edition of its annual ...

Vienna Insurance Group confirms highly successful 2023 financial year

Monday, April 29, 2024

  In its reports covering the 2023 financial year, published today, Vienna Insurance Group (VIG) has confirmed its preliminary figures communicated on 12 March 2024: strong growth across all segments and lines of business, considerable profit growth and a clear positioning as the number one in the CEE region.   As a group that comprises more than 50 insurance companies and pension funds across 30 countries, VIG counts on local ...

tbi bank doubles the limit for interest-free instalment payments to 2,000 lei for Easter in the tbi app

Monday, April 29, 2024

tbi bank, one of the leading challenger banks in South East Europe, stays close to its customers during the Easter holidays with flexible payment solutions and doubles the maximum amount that can be used for shopping with payment in 4 interest-free installments via the mobile shopping app.   Until 12 May, customers can make purchases worth up to 2,000 lei from more than 1,500 online shops present in the app, in a simple and fast experience, which they can pay ...

NN Romania Sets Guinness Record for Largest Human Umbrella Image, Symbolizing Customer Financial Protection

Monday, April 29, 2024

NN Romania has achieved the GUINNESS WORLD RECORDS title for the largest human image of an umbrella. The record symbolizes NN's care for people's financial protection and its efforts for a better future through life, health or home insurance and mandatory and voluntary private pensions.   "Through everything we do, at NN we have the power to change lives. We offer people solutions for protection in unexpected situations and a better financial future, ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 4 April 2024

Monday, April 22, 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; 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 Nicolaescu, Board member and Deputy Governor of the National Bank of Romania; ...

Over 1 billion euros invested in Romania by EBRD over past 30 years 

Monday, April 22, 2024

Romania has used funds from the European Bank for Reconstruction and Development (EBRD) of more than one billion euros for investments over the last 30 years, and the amount could reach up to 7 billion euros, Victoria Zinchuk, EBRD director for Romania, said on Thursday at the 7th edition of the Critical Infrastructure Protection Forum (CIP Forum), as part of the Digital Innovation Summit Bucharest (DISB) 2024.The EBRD has so far provided the largest amount ...

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