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Financial & Banking

Monetary indicators - February 2021

Monday, March 29, 2021

At end-February 2021, broad money (M3) amounted to RON 497,102.4 million, up 1.4 percent (0.9 percent in real terms1) month on month and 17,4 percent (13.8 percent in real terms) year on year, the Central Bank (BNR) informs.   At end-February ...

Banca Transilvania returns to free shares instead of cash dividends

Monday, March 29, 2021

Banca Transilvania (TLV), the biggest lender in Romania in terms of assets, will discontinue cash dividend payments and return to capitalizing its profits and distributing free shares to its shareholders, according to a report sent to the Bucharest Stock Exchange (BVB).   The bank plans to capitalize almost half of its 2020 net profit – RON 573 mln out of RON 1.2 bln – and distribute free shares to its ...

Teilor gets EUR 2.6 mln loans from Raiffeisen with state guarantees

Monday, March 29, 2021

Romanian jewelry company Teilor has contracted two loans from Raiffeisen Bank worth EUR 2.6 mln in total.The loans will be 90% guaranteed by the state through the state-owned lender Eximbank, under the scheme to support local companies impacted by the COVID-19 pandemic.   The first loan, worth EUR 1.6 mln, is for working capital and the other one, worth RON 5 mln (over EUR 1 mln) is for investments.   Teilor is a ...

În 2021, Black Sea Fund wants to invest 15-20 Million Euros

Monday, March 29, 2021

Black Sea Fund, a Romanian private equity investment fund focused on transactions with small and medium-sized companies, plans to invest between 15-20 million euros this year by completing three or four transactions. The fund could finalize two of its transactions by this summer.   The two transactions that could be completed in the summer target one of the largest players in urban mobility and an entertainment production ...

ASF: 10 insurers account for 89 pct of 2020 total written premiums

Monday, March 29, 2021

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The Romanian insurance market is characterized by a medium to high degree of concentration, as last year 10 of the 28 insurance/reinsurance companies made about 89 percent of the total volume of gross written premiums, according to a report published by the Financial Supervisory Authority (ASF).According to ASF data, the first five insurance companies had together a market share of 64.18%, namely: City Insurance - 20.07%, Omniasig VIG - 12.03%, Allianz Tiriac Insurance - 11.43%, ...

The number of tax payments  made through SelfPay stations has increased by 78% in the first two months of the year

Monday, March 29, 2021

The number of taxes paid through the SelfPay stations over the first two months of 2021 has increased by 78% against the same  period of the previous year, so that over  100,000 citizens paid their taxes by using such stations, the company said.   The payment for the taxes can be made through the biggest national network of self-service  payment stations for the institutions which chose to extend their methods of collection towards the ...

Alpha Bank Romania, gross profit on the rise, YoY

Monday, March 29, 2021

Alpha Bank Romania made a gross profit of 21.3 million euros last year, up 36.9%, and its operating profit increased by 13% compared to the previous year, reaching 32.8 million euros, amid a 7% reduction in costs, the bank announced on Wednesday.According to a bank press release, Alpha Bank Romania's loan portfolio stood at 2.6 billion euros at the end of 2020, marking a constant evolution compared to 2019, mainly due to the intensification of lending activity on the Small ...

James Stewart leaves Raiffeisen Bank Romania to manage the Austrian group's division in Bosnia

Monday, March 29, 2021

James Stewart, Raiffeisen Bank's vicepresident for Treasury and Capital Markets, will leave the bank after 21 years. He will take over as interim CEO of Raiffeisen Bank Bosnia and Herzegovina.   James Stewart came to Romania in 2000 and was involved in the takeover and restructuring of former state-owned lender Banca Agricola by the Austrian group Raiffeisen. He has participated alongside the ...

ING Bank Romania obtains in 2020 gross profit of 574 million RON, lower by 37% v 2019

Monday, March 29, 2021

ING Bank Romania has obtained in 2020 a gross profit of 574 million RON, dropping by 37%, in comparison with the previous year, and total incomes parked at 2.1 billion RON, rising by 3%, the bank announced.The bank had last year attracted deposits worth 45 million RON (+23%), and the credit portfolio was located at 28.7 billion RON (+3%). Provision costs were 525 million RON (+236%)."2020 was a resilience test for us and for the entire banking industry. I am ...

BNR: Board decisions on monetary policy

Monday, March 22, 2021

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In its meeting of 15 March 2021, the Board of the National Bank of Romania (BNR) decided the following:   to keep the monetary policy rate at 1.25 percent per annum; to leave unchanged the deposit facility rate at 0.75 percent per annum and the lending (Lombard) facility rate at ...

BNR: Balance of payments and external debt – January 2021

Monday, March 22, 2021

According to of the National Bank of Romania (BNR) data, in January 2021p, the balance-of-payments current account posted a deficit of EUR 239 million, compared with EUR 377 million in the same year-ago period, . The breakdown shows that the deficit on trade in goods decreased by EUR 56 million, the surplus on services increased by EUR 226 million, the primary income surplus narrowed by EUR 31 million and the secondary income deficit rose by EUR 113 ...

EUR 809 million EIB Group support for COVID-19 resilience, education, water, energy efficiency and private investment in Romania

Monday, March 22, 2021

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EIB and EIF working with leading Romanian banks to strengthen COVID-19 economic resilience EIB streamlined university investment scheme already backing investment at Cluj Technical University and Bucharest Medical University Record disbursement for Romanian projects ...

ASF: Stock of private pension funds grew by 21% last year

Monday, March 22, 2021

The private pension fund knew a solid evolution last year, despite the unfavorable economic context generated by the Covid 19 pandemic, at the end of December private pension funds (pillar II and Pillar III) reaching stock of 78,07 billion lei, 21% more than in 2019, ASF ( Financial Supervision Authority) informs. According to the source, the overall stock of the private pension fund  reached 7,5% as GDP ...

Private Equity Fund Oresa buys logistics and industrial park Solo in Iasi

Monday, March 22, 2021

Swedish private equity fund Oresa has bought the logistics and industrial park Solo Iasi from Tester Group owned by Romanian businessman Bogdan Pitigoi, with RPTR advising the equity fund on this acquisition.In addition to the acquisition process, the law firm also assisted the buyer in connection with the financing of the transaction.   “We appreciate ...

TBI Bank further strengthens its presence in Europe by entering the Lithuanian market

Monday, March 22, 2021

TBI Bank, the fastest growing phygital lender in South-Eastern European region, with core markets in Bulgaria, Romania, and banking operations in Germany, Sweden, Denmark and Poland, now enters the Lithuanian market.   The move is in line with the Bank’s overall business strategy through which it is enlarging its European digital footprint in the Nordics, Baltics and Central Europe. The direction is based on the ...

BRD granted financing of over 130 million lei for HoReCa sector

Monday, March 15, 2021

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BRD Groupe Societe Generale granted new financing of over 139 million lei to HoReCa industry, both in the IMM Invest program and from its own sources, the group informs in a press release.   The latest project is long term financing of over 20 million euros granted to Ana Hotels group. The loan will co-finance the renovation of Athenee Palace Hilton Bucharest ...

Evergent Investments seeks alpha in Romania's economy by increasing private equity investments

Monday, March 15, 2021

Romanian investment company Evergent Investments (EVER), the former SIF Moldova (SIF2), plans to increase its investments in private equity in the following years, aiming to continue delivering higher returns for investors than the market average. The company also aims to draw new money from investors on the local capital market to support its investment strategy.   In the last ten years, the company has ...

Bucharest Stock Exchange boasts 18% yoy rise at end-Feb

Monday, March 15, 2021

The BET-TR index of the Bucharest Stock Exchange (BVB), which follows the share price movement paid by the companies included in the main BET index and their dividends, went up by 17.7% year-on-year as of the end of February.   Nearly a quarter of this growth, namely over 4pp, was achieved during the first two months this ...

Netopia Payments:  Total volume of card transactions advances 60 pct in 2020

Monday, March 15, 2021

Digital payments processor Netopia Payments reported a 60 percent increase in the total volume of card transactions in 2020, compared to the previous year; the largest transaction processed was 97,000 lei, the company said in a release.Last year, Netopia topped the 2 billion euro threshold of processed transactions overall since the start of card payments processing activities in 2009.The number of online card transactions was by approximately 20 ...

Euroins Romania: Tanja Blatnik appointed General Manager

Monday, March 15, 2021

Euroins Insurance Group is proud to announce Tanja Blatnik as its new General Manager for Romania. The proposal of Euroins Insurance Group was accepted by the Financial Supervisory Authority of Romania. Mrs. Blatnik joins Euroins România with over 20 years of experience in the insurance industry, managing and leading important operational teams and innovative projects across Central Europe. Prior to joining Euroins Romania, Tanja Blatnik held the ...

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