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Financial & Banking
Binance’s mid-year report shows a healthy crypto industry
Monday, July 31, 2023
Global cryptocurrency exchange platform Binance has released its semi-annual report detailing the state of the industry. Launched at the end of the first half of 2023, the 120-page report covers key verticals in the industry, including Bitcoin and layer-1s; layer-2s; stablecoins; DeFi; and NFTs. The analysis also examines gaming, metaverse, funding, and institutional adoption. The comprehensive mid-year report reveals the ...
Minutes of the monetary policy meeting of the National Bank of Romania Board on 5 July 2023
Monday, July 24, 2023
Publishing date: 17 July 2023 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 ...
Q1 trades on stock exchange regulated market and on MTS at a combined 2.72 bln RON
Monday, July 24, 2023
Trades on the regulated market of the Bucharest Stock Exchange (BVB) and on the Multilateral Trading System (MTS) reached a total of 2.72 billion RON in Q1 2023, down 57 percent from the same period of 2022, shows the report of the Financial Supervisory Authority on the capital market's evolution.As of the end of March 2023, the indices of the Romanian stock market were on a positive trend compared to the end of 2022, with the benchmark BET index standing ...
EBRD President visits Moldova
Monday, July 24, 2023
EBRD President makes second trip to Moldova in two years Visit follows a year of record EBRD investment in 2022, five times the average Aim is to strengthen EU candidate Moldova’s economy despite Russia’s war on ...
The Endgame for Central Banks Inflation Fight
Monday, July 24, 2023
Alin Latu, Country Manager for Romania at ...
Open Banking Technology Has The Potential To Reduce Up To 80% Of Companies’ Accounting Operations
Monday, July 24, 2023
Smart Fintech, the first third-party provider authorized by the National Bank of Romania for Open Banking payments, launches an analysis of the Open Banking evolution and adoption rate in Romania. According to the companies interviewed, this technology can reduce up to 80% of companies’ accounting operations. However, it is still in its early stages in the Romanian market, facing several challenges regarding bank openness, legislation, and the need for more ...
Banca Transilvania Lists New EUR 100 M Issue Of Bonds BVB
Monday, July 24, 2023
Banca Transilvania (TLV), listed last Monday, 17 July, with the local stock exchange, a new issue of bonds in the amount of EUR 200 mn. The bonds will be traded on the Regulated Market of the stock exchange under the ticker ...
Hidroelectrica, included in FTSE for Emerging Markets and MSCI for Frontier Markets indices
Monday, July 17, 2023
Hidroelectrica is included in the FTSE for Emerging Markets and MSCI for Frontier Markets indices and consolidates Romania's presence on the radars of international investors, maintain the representatives of the Bucharest Stock Exchange (BVB).According to the cited source, Hidroelectrica is the first Romanian company to benefit from the rapid inclusion mechanisms of global index providers FTSE Russell and MSCI.At the same time, Hidroelectrica is ...
What should Romanian companies expect from the FX market this Summer?
Monday, July 17, 2023
As we are in the summer quiet season, iBanFirst’s analysts present the major trends in the FX market relevant for the companies with international trade in Romania, with the leading currency pair remaining euro/dollar. According to them, the single currency is recovering, but the US dollar is once again taking the lead, with price movement likely to remain in the range of 1.0800 - 1.1050 in the coming weeks and in a wider range of 1.0500 - 1.1250 until the end of ...
Reconciliations between consumers and banks, 30% more in H1
Monday, July 17, 2023
Banks accepted for negotiation, in the first six months of the current year, 420 requests sent by consumers of financial services to the Alternative Dispute Resolution Center in Banking (CSALB).According to a press release from CSALB, the banks' appetite for negotiation is 27% higher compared to the similar period in 2022, and the number of successfully concluded negotiations has increased by 30%.Thus, up to this moment, in 340 cases ...
EU Member States pledge over €400 million to the EIB’s Fund supporting Ukraine
Monday, July 17, 2023
Initial pledges to the Fund from France, Ireland, Italy, Latvia, Lithuania, Luxembourg, Poland, Slovakia, Spain and the Netherlands total €377.3 million. Belgium, Croatia, Cyprus, Denmark, Estonia and Greece also announced contributions to the Fund with the amounts to be finalised. The size of ...
Exim Banca Romaneasca carries on with New Home program
Monday, July 17, 2023
Exim Banca Romaneasca continues this year too the New Home government program, therefore receiving in all its offices applications for state-secured loans guaranteed by the National Credit Guarantee Fund for Small and Medium Enterprises (FNGCIMM).According to a bank release, the New Home loans can be accessed for an interest rate of 7.94%, without a file analysis fee, no monthly loan administration fee and without an early repayment fee. The bank charges a ...
BRD extends digital banking partnership with Backbase
Monday, July 17, 2023
Digital banking tech ...
BNR Board decisions on monetary policy
Monday, July 10, 2023
In its meeting of 5 July 2023, the Board of the National Bank of Romania (BNR) decided: to keep the monetary policy rate at 7.00 percent per annum; to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per ...
European Investment Fund signs 15 million lei loan accord with Patria Credit IFN
Monday, July 10, 2023
The European Investment Fund signed a subordinated loan accord of 15 million lei (3 million euros) with Patria Credit IFN, part of Patria Bank. According to a press release issued on Tuesday, the transaction is backed by InvestEU, a financing instrument meant to generate additional investments over 372 billion euros until 2027, to support EU political ...
Survey: More than 60% of respondents prefer private healthcare over the public system
Monday, July 10, 2023
SIGNAL IDUNA ASIGURARE REASIGURARE, the leading health insurance provider in Romania, according to the latest report by the Financial Supervisory Authority (ASF), reveals the results of opinion surveys conducted between October 26th and December 19th, 2022, and from 27th March to 9th May 2023, as part of the marketing campaign, “Disease doesn’t choose, but you can!”. The extensive campaign was designed to gather insights directly from the public ...
Navigating New Norms: Mazars Releases its 2023 Tax Guide for Europe
Monday, July 10, 2023
Unpacking tax trends and regulations across 25 countries, with a special focus on the impact of the new global minimum tax. The global minimum tax must be incorporated into the Romanian legislation by the end of the year. CEE countries exhibit varied corporate profit taxation, with average tax rates between 15 and 20 ...
Survey: Only one in ten Romanians trusts Romanian banks
Monday, July 10, 2023
Only one out of ten Romanians has confidence in the banks of Romania, while 23% of citizens feel deceived in their relationship with banking institutions, according to the results of a specialized study released on Tuesday."The top issues that concern Romanian citizens at the moment show, not surprisingly, that the main concern of Romanians (47%) is related to purchasing power in the inflationary period we are going through," the authors of the survey ...
Groupama and Alpha Bank launch “Travel all Seasons” insurance
Monday, July 10, 2023
Groupama and Alpha Bank Romania announce the launch of an extended version of the “Travel all Seasons” travel insurance, providing also remote medical support, through the Întreab?Medic telemedicine service. The “Travel all seasons” insurance is addressed to Alpha Bank Customers, individuals traveling abroad or in Romania for ...
BNR's Lazea: In 2022, the banking system posted a record profit for Romania
Monday, July 3, 2023
The banking system posted a record profit for Romania in 2022, of RON 10.2 billion, that in 2023 "will be exceeded by far" also because in the first four months of 2023 banks widened the margin between the interest charged on loans and the interest paid on deposits, Chief Economist with the National Bank of Romania (BNR)Valentin Lazea said on Wednesday."In 2022, the banking system posted a record profit for Romania, of RON 10.2 billion - over EUR 2 ...