RSS
Financial & Banking
One United Properties’ shareholders approve 70 million euros share capital increase
Monday, June 3, 2024
The shareholders of One United Properties, the leading Romanian green developer of residential, mixed-use, and office real estate, approved, during the General Meeting of Shareholders held on May 28th, 2024, the share capital increase operation with cash contributions that will raise 70 million euros to finance the Company's next growth phase. The GMS quorum was over ...
Intesa Sanpaolo completes acquisition of First Bank Romania
Monday, June 3, 2024
Intesa Sanpaolo has successfully completed the acquisition of the Romanian group First Bank S.A. (Romania) from the US-based private investment fund J.C. Flowers & Co. Following the signing, on October 28, 2023, by Intesa Sanpaolo S.p.A. and JCF Tiger Holdings S.A.R.L., the majority shareholder of First Bank S.A., of a sale-purchase agreement for the acquisition of 99.980513% of the ...
Patria Credit IFN's 2023 net profit up 44 pct to RON 8.54 ml
Monday, June 3, 2024
Patria Credit IFN SA, the non-banking financial institution of Patria Bank Group, posted a net profit of RON 8.54 million in 2023, by 44 percent higher compared to the previous year, while its loan portfolio increased 14 percent year-over-year to RON 184 million, the company said in a release.New loan sales were 1 percent up from 2022 to RON 94 million.Agriculture stays a major component in the NBFI's loan portfolio, accounting for 81 percent ...
New banking IT development hub Raiffeisen Tech to officially launch in Romania in early July
Monday, June 3, 2024
Raiffeisen Tech, the new finance and banking tech and software development center, will officially launch on July 1 in Romania, the parent group informed in a release on Wednesday."The newly established company is headed by Diana Andrei as General Manager, a professional with over 20 years of experience in banking, of which the last 8 years with Raiffeisen Bank Romania, where she has served since 2018 as Head of IT Delivery Department," the source ...
Banca Transilvania Group, agreement for acquisition of BRD Pensii
Monday, June 3, 2024
Banca Transilvania Financial Group reached an agreement with BRD - Groupe Societe Generale and Societe Generale Assurances for the acquisition of BRD Societate de Administrare a Fondurilor de Pensii Private (BRD Pensii), a company active in Romania, in the field of mandatory private pensions (Pillar II) and optional private pensions (Pillar III).For the acquisition, the approval of the Financial Supervisory Authority (ASF) is required in ...
Romanians paid 250 million RON in charges, taxes in first 4 months through SelfPay
Monday, June 3, 2024
Romanians paid over 250 million RON in charges and taxes in the first four months of this year through SelfPay payment terminals, with 1.5 million such payments being processed, according to the data sent by the company on Tuesday.SelfPay operates in Romania more than 11,000 payment terminals located in more than 2,000 locations.Currently, SelfPay offers users the opportunity to pay 63 types of taxes and fees (compared to only 47 at the end of ...
SIGNAL IDUNA extends flexibility for companies in Romania, offering two new options for private health insurance: co-payment and deductible systems
Monday, June 3, 2024
SIGNAL IDUNA, the leader in health insurance, offers its clients a new option for group health insurance – the possibility of co-payment – providing all companies in Romania with the opportunity to customize employee ...
Insurers pay out record 4.2 billion RON in claims under RCA policies in 2023
Monday, June 3, 2024
Some car service and car rental companies charge excessive repair prices, so that the compensation paid to cover these unjustified costs is borne by the premiums paid by the 10 million insured/car owners, say representatives of the National Association of Insurance and Reinsurance Companies in Romania (UNSAR).Thus, "the more exaggerated the repair and rental costs, the greater the burden placed on policyholders/car owners".UNSAR's comments were ...
ING Bank Romania, net profit of 347 mln RON in Q1 2024
Monday, June 3, 2024
ING Bank Romania achieved a net profit of 347 million RON in the first quarter of 2024, up 1% compared to the same period of last year, the bank informed in a release on Monday.In the first three months, the bank reported revenues of 877 million RON and total assets of 71.4 billion RON, an increase of 11.3% and 14.1%, respectively, compared to the same period in 2023.The costs of risk provisions remained at a low level, of approximately 58 ...
Assets of optional pension funds at RON 5.05 bln as of end-April
Monday, June 3, 2024
Assets held by optional pension funds stood at RON 5.05 billion (1 euro trades for RON 4.96) as of April 30, 2024, up 28.1 percent year-over-year, the Financial Supervisory Authority (ASF) reports.Most investments were made locally (96 percent), with the bulk thereof being denominated in domestic RON (89.5 percent), the report states.According to the cited source, the amount of contributions transferred in April to optional pension schemes was ...
Assets of privately managed mandatory pension funds at 135.5 bln RON, up 28.8 pct, in April
Monday, June 3, 2024
Romania's mandatory private pension funds had assets worth 135.5 billion RON (1 euro = 4.96 RON) at the end of April 2024, up 28.8% compared to the same date in 2023, according to statistics from the Financial Supervisory Authority (ASF)."93.6% of the investments of privately managed pension funds were in Romanian assets, most of which were denominated in RON. A large part of the Romanian instruments are represented by government securities or shares listed ...
IFC Appoints Ines Rocha As New Regional Director For Europe
Monday, June 3, 2024
IFC has appointed Ines Rocha as Regional Director for Europe. Based in Vienna, she will play a key role in boosting private sector investment and creating jobs in Central and Eastern Europe, with a focus on bolstering green growth, digital technology, and financial inclusion, and leading IFC’s response to Russia’s invasion of Ukraine. She will also spearhead IFC’s business development efforts in Western Europe to mobilize capital and knowledge to ...
Minutes of the monetary policy meeting of the National Bank of Romania Board on 13 May 2024
Monday, May 27, 2024
Publishing date: 23 May 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, ...
BRD aells consumer loans from Romania
Monday, May 27, 2024
The BRD Group – Société Générale is selling the portfolio of consumer loans in Romania, RFI.ro reports. The BRD-Société Générale group has decided to sell the consumer credit division in Romania. Mass media, citing company releases, says that BRD Finance IFN is in the process of selling its loan portfolio. Societe ...
Garanti BBVA Romania contributes €48M to Ford Otosan loan
Monday, May 27, 2024
Garanti BBVA Romania contributed €48 million to the syndicated loan raised by Ford Otosan Romania, thus supporting the electrification of the auto industry in Romania. The financing will be used to support the production of the new Ford Puma, the Ford Transit Courier and Ford Tourneo Courier models, as well as the production of their all-electric versions. Garanti BBVA International NV separately ...
Freedom24, an innovative Stock Brokerage platform launches in Romania
Monday, May 27, 2024
Freedom Holding Corp, a NASDAQ-listed international investment group, has launched its global stock exchange trading platform, Freedom24, in Romania. Established in 2008, the group has extensive expertise across the US, Europe, and Central Asia and a market capitalization of approximately $4.8 billion. „We are confident that Freedom24 will be very well received on the Romanian ...
Exim Banca Romaneasca and Export Credit Greece, to collaborate for development of trade and investments
Monday, May 27, 2024
Exim Banca Romaeasca, as Romania's export agency, and Export Credit Greece signed a memorandum of understanding for the development of trade and investments between Romania and Greece, according to a press release sent on last Wednesday.The agreement was signed on the sidelines of the half-yearly meeting of the Prague Club of the Berne Union, organized for the first time in Athens, Greece, from May 21 to 23, 2024.Within the framework of the ...
tbi bank reports 40% growth and highest Q1 profit
Monday, May 27, 2024
tbi bank’s consolidated unaudited financial results for the first quarter of 2024 show net profit of EUR 11.3 million – almost 40% higher than the EUR 8.2 million profit achieved for the same period of last year. Throughout Q1 2024 tbi onboarded new merchant partners, including new verticals (like solar panels), and is now present in over 26.000 merchant partner ...
iBanFirst analysts: Currency war - Reality or fantasy?
Monday, May 27, 2024
In 2024, the strength of the dollar could trigger a new currency war. The market is concerned about the risk of competitive devaluations in Asia to counter the strong dollar. A devaluation of the yuan could be the first domino to fall, allowing China to regain competitiveness and boost its export-driven economy to pre-pandemic ...
ASF approves IPO for listing 28.5% of JT Grup Oil on Bucharest Stock Exchange
Monday, May 27, 2024
The Financial Supervisory Authority (ASF) approved in its meeting of Wednesday, May 22, the Prospectus for the initial public offering of 10 million shares for the listing of JT Grup Oil on the Multilateral Trading System of the Bucharest Stock Exchange, AeRO market. The initial public offer, which will be open for ten working days, will start on 28 May 2024 and will run until 10 June ...