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Financial & Banking

BCR listed the largest bond issue on Bucharest Stock Exchange worth RON 1bn

Monday, June 7, 2021

The bonds issued by BCR, worth RON 1bn, started trading on Bucharest Stock Exchange under the ticker BCR28 Fitch agency assigned  BBB+ rating to the bond issue It is the largest bond issue traded on Bucharest Stock ...

Capital infusions from abroad in insurance market amount to 1.7 million euros in April

Monday, June 7, 2021

Capital infusions from abroad in insurance companies operating in Romania amounted to 1.72 million euros in April, compared to 493,300 euros in the same month last year, according to data published by the the National Trade Register Office (ONRC).As contribution to the share capital, the largest injection in April was carried out by the shareholders of Eurolife Asigurari Generale SA, with 988,900 euros, followed by NN Asigurari with 727,200 euros.In ...

ING Bank Romania rolls over NEPI Rockcastle's financing with EUR 100 mln

Monday, June 7, 2021

ING Bank Romania recently prolonged for another three years the EUR 100 mln credit facility granted to the NEPI Rockcastle group, the largest owner of shopping centres in Central and Eastern Europe, Ziarul ...

IIB finances Medicover’s expansion in Romania and the region

Monday, June 7, 2021

International Investment Bank (IIB) has become a creditor in the framework of Schuldscheindarlehen (SSD) issuance of the Swedish Medicover Group.   The Group will allocate the proceeds from the designated ten-year tranche for further technological modernization and expansion of its operations in the CEE region, primarily in three of IIB member states: Hungary, Romania and Slovakia. In these countries, Medicover currently ...

Mihaela Stroia is the new CEO of UNIQA Asigurari de Viata

Monday, June 7, 2021

Starting June 2021, Mihaela Stroia takes over the role of CEO – President of the Board of UNIQA Asigurari de Viata.   With an experience of over 20 years in the financial services industry, out of which five as part of the UNIQA team, Mihaela Stroia rejoins the Board of UNIQA, after a previous mandate between 2017 and 2019.   Before UNIQA, Mihaela Stroia ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 12 May 2021

Monday, May 31, 2021

24 May 2021     On 12 May 2021, the Board of the National Bank of Romania held a meeting in which the following members took part: Mugur Isarescu, Chairman of the Board and Governor of the National Bank of ...

PM Florin Citu says IMF confirms: Romania has highest economic growth in the EU

Monday, May 31, 2021

Prime Minister Florin Citu informs that the International Monetary Fund "estimates an economic growth in 2021 of 7% (by 3 percentage points above the initial estimates) and a budget deficit of 6.8% (as compared to 7.2 % the initial estimate)"."The IMF confirms that Romania has the highest economic growth in the EU. The result of the implemented reforms is beginning to be seen. Romania is moving in the right direction. We estimated that the measures we are ...

BNR : Monetary indicators – April 2021

Monday, May 31, 2021

At end-April 2021, broad money (M3) amounted to RON 503,531.7 million, up 0.9 percent (0.4 percent in real terms) month on month and 14.7 percent (11.1 percent in real terms) year on year.   At end-April 2021, loans to non-government ...

Raiffeisen Bank Green Bond

Monday, May 31, 2021

Project Description   The EBRD invested RON 53 million (ca. EUR 10.8 million) in a senior preferred green bond issuance of RON 400.6 million by Raiffeisen Bank S.A., a commercial bank incorporated in Romania, in May 2021. This is the first senior preferred instrument issued by Raiffeisen Bank, and the first green bond issued by a commercial bank in Romania, making it a pioneer issuance linked ...

NBG sells EUR 174 mln Romanian portfolio of problematic loans

Monday, May 31, 2021

The National Bank of Greece (NBG) has completed the sale of a Romanian portfolio of non-performing and underperforming corporate loans (NPLs) with a gross book value of approximately EUR 174 mln to Bain Capital Credit.The portfolio has attached guarantees of approximately EUR 102 mln.   NBG was assisted in the transaction by the international law firm CMS. The transfer of the portfolio was approved by the Romanian ...

Accenture Report: Demand for Digital Services could displace $280B of traditional insurance Premiums by 2025

Monday, May 31, 2021

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* Insurers adapting to emerging risks, data-driven products and digital distribution are poised to capture new revenue opportunity   Rising demand for digital insurance premiums and their online distribution is expected to displace US$280 billion of current insurance revenues by 2025, challenging current customer retention levels, according to a new report from Accenture (NYSE: ...

Raiffeisen Bank first green bonds worth over RON 400mn started trading on Bucharest Stock Exchange

Monday, May 31, 2021

Raiffeisen Bank green bonds, the first of this type in the Romanian banking sector, started trading May 27th, on Bucharest Stock Exchange Main Market The bonds worth over RON 400mn and are traded under the ticker RBRO26 It is the fourth Raiffeisen Bank bond issue traded on the Main ...

ING Bank Romania reports higher profit and robust demand for retail loans

Monday, May 31, 2021

ING Bank Romania reported an increase in gross profit of 11% for the first three months of 2021, compared to the same period of the previous year, to RON 183 mln (EUR 37 mln).   "The first three months of this year bring the prospect of a return to normalcy, including in an economic and financial context. In our case, profitability has increased, and the demand for mortgages and personal loans has ...

Romania’s banking system posts 15% yoy stronger profits in Q1

Monday, May 31, 2021

  Romania’s banking system boasted RON 1.9 bln (EUR 383 mln) in the first quarter of the year, which was 17.3% (+15% in euros) more compared to the same period of 2020, according to calculations based on data released by the National Bank of Romania (BNR).   Return on assets (ROA) was 1.33%, compared to 0.95% in the whole 2020 and 1.27% in Q1 last ...

OTP Leasing Romania launches integrated flow of electronic signatures for legal entities and suppliers

Monday, May 31, 2021

OTP Leasing Romania, part of the OTP banking group, continues the investment in technological projects, meant to support local companies to obtain asset financing in the safest and fastest conditions. The company announces the launch of the electronic signing for leasing contracts, being the first company in this field that offers the possibility of multiple signatures – lessor, client, supplier, guarantor – on contracts and other documents and the integration of ...

BSTDB Increases Funding for SME Leasing Finance in Romania

Monday, May 24, 2021

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  The Black Sea Trade and Development Bank is expanding its support to small and medium-sized enterprises (SMEs) in Romania with a EUR 20 million leasing facility to Garanti BBVA Leasing. The financing will enable the company to meet the demand of Romanian SMEs in acquiring equipment, machinery, and vehicles. The new loan is the third agreement signed by Garanti BBVA Leasing and the BSTDB.   By working ...

Intesa Sanpaolo Bank grants AS Metal Com SRL a RON 4 million loan with guarantee from EximBank

Monday, May 24, 2021

Intesa Sanpaolo Bank, the Romanian subsidiary of the Intesa Sanpaolo Group, recently granted to AS Metal Com SRL a credit facility worth RON 4 million, to ensure the necessary liquidity for the current activity. The facility was approved with a state guarantee, issued by EximBank, within the state aid scheme COVID-19, which it implements, following the special mandate received from the Romanian state.   Through this ...

În 2020, Romanian banks invested EUR 200 mln in digitization

Monday, May 24, 2021

Romanian banks invested last year over EUR 200 mln in process automation, amid the pandemic. As a result, 60% of them offer full-online services, including account opening, compared to 25% in 2019, according to a FinnoScore report compiled by the consulting company Horváth.   According to the report, the best performing banks in Romania, from the perspective of the degree of digitalization, are Banca Transilvania, ...

Fondul Proprietatea Q1 net profit at 701.4 ml lei

Monday, May 24, 2021

- Fondul Proprietatea ended Q1 with a net profit of 701.4 million lei, compared to a loss of 1.95 billion lei in the same period last year, shows a company report submitted to the Bucharest Stock Exchange.The company's net operating income in Q1 was 722.6 million lei, compared to a loss of 1.936 billion lei in the same period of 2020. Operating expenses amounted to 21.2 million lei in the first quarter of 2021, as to 18.1 million lei in the prior year ...

EBRD contributes 30% to BCR's RON 1 bln bond issue

Monday, May 24, 2021

The European Bank for Reconstruction and Development (EBRD) placed RON 300 mln (EUR 60 mln) as part of the RON 1 bln issue launched by Romania's second-biggest lender, Banca Comerciala Romana (BCR) - part of Erste Bank Group.   The issue, launched under a private placement procedure and registered with BVB on May 19, will be listed on the Bucharest Stock Exchange (BVB) towards the end of May. It matures in 2028 and carries ...

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