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Financial & Banking

TBI Bank reports best financial result for 2021

Monday, April 11, 2022

In the past years the world has faced unexpected challenges – when the impact of the global pandemic started weakening, the current tragic events in Ukraine followed.   These times have been tough for every business organization around the world – yet some have proven to be more resilient than others. In that time, TBI Bank launched plenty of new products and initiatives, focused on its customers and continued ...

BRD SocGen launches "green" retail loans for e-vehicles and energy-efficient goods

Monday, April 11, 2022

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BRD Groupe Societe Generale is launching its first "green" loans - for consumer goods and homes.   The financing extended under these instruments can be used for buying cars, equipment or homes with low environmental impact, the bank announced on April 4. "As part of our ESG (Environmental, Social and Governance) strategy, we have set ourselves a clear mission to build ...

First Bank offers companies green loans that allow them to recover up to 100% of their electricity costs

Monday, April 11, 2022

First Bank offers loans with 50% discount for companies that want to install photovoltaic panels to recover their electricity costs. Thus, companies can become prosumers and, by implementing green solutions, recover up to 100% of these expenses.   According to the new updates of the current legislation, by installing photovoltaic systems (panels), more companies will be able to become prosumers, i.e. they will be able to ...

Press release of the National Committee for Macroprudential Oversight

Monday, April 4, 2022

The first meeting of this year of the General Board of the National Committee for Macroprudential Oversight (NCMO) was held on 31 March 2022 by written procedure.   During the meeting, Board members examined analyses and adopted measures concerning macroprudential policy and systemic risk, namely the regular analysis on the recalibration of the countercyclical capital buffer (CCyB) and the draft Annual Report of the ...

BNR: International reserves – March 2022

Monday, April 4, 2022

On 31 March 2022, the National Bank of Romania’s foreign exchange reserves stood at EUR 40,143 million, compared to EUR 41,877 million on 28 February 2022.   During the month, the following flows were recorded: EUR 2,915 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with the NBR; inflows into ...

Operational leasing market exceeds level of 77,000 units in administration in 2021

Monday, April 4, 2022

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The operational leasing market grew in line with the car market, exceeding the level of 77,000 units in administration, at the end of 2021, according to the Association of Operational Leasing Companies (ASLO) estimates, said on Thursday ASLO president Bogdan Apahidean.He specified that this represents an increase of over 8,000 vehicles, namely 12% compared to the end of 2017, the last year with available data on volumes.In the same period, 2017-2021, ...

FP WELCOMES APPROVAL FOR HIDROELECTRICA’S LISTING INITIATION

Monday, April 4, 2022

* A DUAL LISTING WOULD FURTHER BOOST THIS LANDMARK TRANSACTION     Bucharest, 31 March 2022 – Fondul Proprietatea (the “Fund") welcomes the approval of the initiation of the listing process of Hidroelectrica’s shares on the Bucharest Stock Exchange following a public offering of the company’s shares held by the ...

Euler Hermes, the world leader in trade credit insurance, becomes Allianz Trade

Monday, April 4, 2022

Euler Hermes, the world leader in trade credit insurance, opens a new chapter in the history of insurance, becoming today, Allianz Trade. Since 2018, the company has been part of the Allianz Group, so the new identity highlights the group’s performance and is a major advantage in supporting the strategic plan for the next three years, consolidating its position as a global player.   The rebranding reiterates the ...

Romanian insurance brokers thrive amid bankruptcy of City Insurance

Monday, April 4, 2022

The revenues of the insurance brokers selling third-party liability auto insurance (RCA) increased by 41.6% in 2021, to RON 792 mln, according to data provided by the financial markets regulator ASF quoted ...

BCR issues 5-yr RON-denominated non-preferential senior bonds with 6.76% coupon

Monday, April 4, 2022

Banca Comerciala Romana (BCR), part of Erste Bank ...

Capital Economics sees Romania’s CA gap at 8% of GDP this year

Monday, April 4, 2022

High oil prices will push Romania’s current accounts (CA) into an alarming level of 8% of GDP this year (roughly EUR 20 bln), keeping the exchange rate under pressure, Capital Economics warns in ...

Oradea hosts Unchain Fintech Festival in July

Monday, April 4, 2022

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Oradea, a major city in northwest Romania, will be the host of Unchain Fintech Festival this summer. The fintech & blockchain event is scheduled for July 13-14. Bankers, financial institutions, regulators, startups, investors, and all other key stakeholders of the ecosystem will come together at the Unchain Fintech Festival to discuss the latest trends, create business opportunities and spark innovation in financial ...

ING Bank Romania changes CFO

Monday, April 4, 2022

ING Bank Romania appointed Lucica Pitulice as the new Chief Financial Officer (CFO) starting April 1. She replaced Serge Offers, who took over the position of Head of Business Banking within the bank on February 1.   With over 20 years of experience in the banking industry and a strong track record in the role of CFO in other organizations, Lucica Pitulice joined the ING Romania team 2 years ago. In her ...

BNR: Monetary indicators – February 2022

Monday, March 28, 2022

  At end-February 2022, broad money (M3) amounted to RON 570,572.5 million, up 0.7 percent month on month and 14.8 percent (5.8 percent in real terms) year on year, the Romanian Central Bank (BNR) informs.   At end-February 2022, loans to non-government sector granted by credit institutions increased 1.3 percent (0.7 percent in real terms) from January 2022 to ...

Alpha Bank Romania launches three ESG investment funds on the local market

Monday, March 28, 2022

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Alpha Bank Romania introduces to the local market three investment funds part of Alpha (LUX) Global Funds, managed by Alpha Asset Management A.E.D.A.K., the Alpha Bank Group company specialized in fund management, and supervised by the Commission de Surveillance du Secteur Financier from Luxembourg.   Alpha (LUX) Global Funds incorporate environmental, social, and ...

Credit Europe Bank Romania becomes partner of Romanian Fintech Association

Monday, March 28, 2022

Credit Europe Bank Romania becomes a partner of Romanian Fintech Association (Rofin.tech), an association that includes companies founded by Romanian entrepreneurs, which develop technological solutions. The initiative shows the bank’s support for innovation and the constant evolution of the Romanian business environment through technology. At the same time, it reconfirms the strategic direction of digitalization, the collaboration with partners in the ...

Vista Bank arranged syndicated loan of EUR 22 M for Premier Energy Group

Monday, March 28, 2022

Vista Bank arranged a EUR 22 million Syndicated Loan for Premier Energy Group, one of the fastest growing energy and power infrastructure holdings in Southeastern Europe and the 3rd largest distributor and supplier of natural gas in the Romanian market. The syndicate of Lenders is made up of VISTA BANK, as mandated arranger, agent, security agent and account Bank, and Lender, CREDIT AGRICOLE ROMANIA and VISTA Leasing as Lenders.   The facility ...

BCR Pensii reports first PE-type investment for a Romanian private pension fund

Monday, March 28, 2022

The mandatory private pension fund (Pillar II) managed by BCR Pensii, part of the Austrian Erste Bank Group, reported it placed RON 4.3 mln in assets from the category of private equity - the first investment of this type for a Pillar 2 fund since they were launched in May 2008.   "We are talking about investments in two private equity funds, CEECAT Capital II and Black Peak Capital, which we financed together with multilateral financial institutions, ...

Over 50,000 Romanians have already received a private pension

Monday, March 28, 2022

Over 50,000 Romanians benefited from the amounts accumulated in the private pension account Pillar II in the period 2016 - 2021, most of them being relatives of some taxpayers who died, or contributors who retired due to illness, show the data centralized by the Financial Supervisory Authority (ASF).According to a release sent last week, the total amount paid by the administrators during that period amounts to almost 660 million lei, and the number ...

EY:78% of Romanian CFOs will be significantly involved in strategy development and executions in the coming 3 years

Monday, March 28, 2022

84% of Romanian CFOs declared they will not reduce the number of employees in Finance functions; More than half respondents (52%) declared they will expand remote working in Finance department; The concept of long-term value creation represents the critical priority of 87% of Romanian Finance ...

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