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Financial & Banking

Crypto in 2022: volatility levels and potential future

Monday, January 10, 2022

With Bitcoin having experienced a huge year that provided a number of twists and turns throughout 2021, there will be many questioning what 2022 can offer cryptocurrency and the entire industry over the course of the next 12 months.   As everyone will already know, crypto is incredibly volatile, thus making it extremely hard and difficult to predict what may happen over a ...

Feza Tan is the new first executive Vice President of UniCredit Bank

Monday, January 10, 2022

Feza Tan began her term as First Executive Vice President and a member of the Board of Directors of UniCredit Bank following the green light of the National Bank of Romania.Feza Tan has a career of almost 30 years in the banking system and an important managerial experience, holding the position of CEO of UniCredit Bank Serbia since 2018.   “I am honored to take over the mandate of First ...

One United Properties shares liquidity to be enhanced by Raiffeisen Centrobank

Monday, January 10, 2022

One United Properties (ONE), a real estate developer of premium residential projects in Romania, will benefit as of January 3, 2022, from ...

Labour Ministry to contract technical assistance services from World Bank to reform pension system

Monday, January 3, 2022

The Ministry of Labour will contract technical assistance services from the World Bank to implement the reform of the public pension system as provided in the National Recovery and Resilience Plan (PNRR), according to a memorandum approved by the Government on Tuesday."A memorandum initiated by the Ministry of Labour has been approved. It is part of the commitments made under the PNRR and, based on this approval of the memorandum in the Government, the Ministry of ...

BRD grants financing of over 2 billion lei since start of IMM Invest program

Monday, January 3, 2022

 BRD has granted financing of over 2 billion lei, since the start of the IMM Invest program, the largest part of it going towards constructions, trade, agriculture and transport area, Francois Bloch, CEO of BRD Groupe Societe Generale declared in an interview for Agerpres.Asked if banks have funds to carry out new financing programs in the near future, he said that PNRR (Romania's National Recovery and Resilience plan) is a strategic plan, which can change ...

EY Report: 2021 was the most active year for the IPO market over the past 20 years

Monday, January 3, 2022

In the face of the uncertain environment that 2021 promised, the global IPO market had an exceptional year, breaking records by IPO volume and proceeds consistently into the fourth quarter. In the last quarter, the winds shifted with the surfacing of the COVID-19 omicron variant, continuing geopolitical tensions and increased market volatility. Overall, 2021 saw a total of 2,388 deals raising US$453.3b in proceeds, a 64% and 67% respective increase YOY. ...

BSTDB provides new EUR 40 million facility to Garanti BBVA to strengthen SME resilience and post-pandemic recovery

Monday, January 3, 2022

The Black Sea Trade and Development Bank (BSTDB) is providing EUR 40 million SME Facility to Garanti BBVA Romania to expand support for small and medium-sized enterprises (SMEs) in the country and help them sustain their business under the challenging conditions caused by the coronavirus pandemic.   The BSTDB’s five-year loan will fuel the investment programmes and working capital needs of industrial, ...

EBRD lends Romanian city of Timisoara €20.3 million to improve city tram transport

Monday, January 3, 2022

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Timisoara becomes 53rd member of EBRD Green Cities urban sustainability programme European Union will provide €53.6 million grant for €87.2 million infrastructure programme   The European Bank for Reconstruction and Development ...

Fitch upgrades Romanian UniCredit Bank two notches up to BBB/stable

Monday, January 3, 2022

International rating agency Fitch has upgraded the Long-Term Issuer Default Rating (IDR) of UniCredit Bank Romania (UCBRO) to BBB from BB+, with a stable outlook, and its short-term individual default rating (IDR) to F2, from B. The viability rating (VR) has been affirmed at bb.   The two-notch upgrade of UCBRO's IDRs reflects the upgrade of its parent UniCredit S.p.A on 17 December 2021 and Fitch's ...

EBRD €5 million loan to finance Aquila’s brand expansion and corporate digitalisation

Monday, January 3, 2022

Loan will also help company meet working capital and capital expenditure needs Newly listed Aquila to further strengthen its corporate governance   The European Bank for Reconstruction and Development (EBRD) is providing a €5 million loan to Aquila ...

Euroins, fined by Financial Supervisory watchdog with over 5.8 million RON

Monday, January 3, 2022

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The Financial Supervisory Authority (ASF) sanctioned Euroins Romania Insurance - Reinsurance, after a verification that took place during the period of May-October 2021, with a total fine of 5.86 million RON and imposed the company measures to remedy the identified deficiencies.According to the legal provisions, within two months since the decision was received, the Euroins Romania Insurance - Reinsurance will send to ASF for approval a plan for recovery, with ...

OTP Bank Romania increases the share capital for the second time în 2021

Monday, January 3, 2022

OTP Bank Romania announces it´s second share capital increase în 2021, this time with more than 200 million lei.   OTP Bank reports a steady increase in lending and saving activities for the main business lines, at the same time with the execution of the Apollo growth ...

EBRD, EU back maib in boosting financing for Moldovan firms

Monday, January 3, 2022

Moldovan firms to benefit from greater access to finance EBRD extends unfunded risk-sharing framework of up to €20 million to maib Additional €5 million loan, backed by EU, for on lending to ...

JC Flowers wants to retire from Romania

Monday, January 3, 2022

  JC Flowers, the American investment fund that owns First Bank Romania, seems to have eventually found a buyer, according to sources familiar with the deal quoted ...

The National Committee for Macroprudential Oversight meeting of 15 December 2021

Monday, December 20, 2021

The fourth meeting of this year of the General Board of the National Committee for Macroprudential Oversight (NCMO) was held on 15 December 2021 by written procedure.   During the meeting, Board members examined analyses and adopted measures concerning macroprudential policy and systemic risk.   The NCMO General Board was informed of: (i) ...

BNR: Balance of payments and external debt – October 2021

Monday, December 20, 2021

In January – October 2021p, the balance-of-payments current account posted a deficit of EUR 13,850 million, compared with EUR 8,767 million in the same year-ago period. The breakdown shows that the deficits on trade in goods and on primary income widened by EUR 3,368 million and EUR 689 million, respectively; the surplus on secondary income and that on services decreased by EUR 645 million and EUR 381 million, ...

TBI Bank expands its operations in the EU by entering Greece as a third main market of operation

Monday, December 20, 2021

TBI Bank, one of the most dynamic lenders in Eastern Europe, is entering the Greek market after obtaining approval from the Bank of Greece. This makes Greece the bank’s third main market of operations, alongside Romania and Bulgaria. Over the past 20 years, the Bank has developed unique know-how in the field of phygital all inclusive lending, as well as in-store and online point-of-purchase financing for the benefit of both merchant partners and ...

BNR identifies new systemic risk, delay on reforms and absorption of European funds

Monday, December 20, 2021

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The National Bank of Romania (BNR) has identified a new systemic risk, that of delays on reforms and the absorption of European funds, especially through the National Recovery and Resilience Plan (NRRP), according to the Financial Stability Report published by the bank central."Similar to the previous report, only one severe systemic risk was identified, with prospects for maintenance: tensions in internal macroeconomic balances, including as a result of the ...

EBRD invests in Alpha Bank’s first synthetic securitisation

Monday, December 20, 2021

EBRD supporting Alpha Bank S.A.  in enhancing capital resilience and increase lending capacity Investment will contribute to the establishment of synthetic securitisation as a new instrument in the Greek market Alpha Bank commits to finance new green projects, ...

Fairo, the financial app for freelancers, is now available for SRLs for free

Monday, December 20, 2021

Fairo, the financial app helping PFAs realize more of their business goals by doing less paperwork, is now also available for sole owner SRLs.    From now on, freelancers operating as PFA and sole owner SRL with up to one employee can enjoy the app for free, with no hidden costs and zero obligations.  Fairo customers can create professional invoices in 60 ...

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