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Financial & Banking
Visa And Raiffeisen Bank Launched The Visa Signature Card, A Premiere In Central And Eastern Europe
Monday, October 21, 2024
Visa and Raiffeisen Bank have launched for the first time in Central and Eastern Europe the Visa Signature card (debit and credit), expanding exclusive benefits for super-premium cardholders in the Romanian market. This initiative reinforces both companies’ commitment to providing innovative financial products and services, offering clients significant advantages and an enhanced experience with Visa Premium cards. Made from 99% recycled ...
TOKEN secures authorisation from NBR and becomes a payment institution
Monday, October 21, 2024
Token Payment Services has announced that it obtained its authorisation from the National Bank of Romania (NBR), allowing the company ...
Romania's banking industry's solvency indicators well above EU average, yet financial intermediation lagging behind
Monday, October 21, 2024
Romania's banking industry has some of the best solvency indicators in Europe, well above the EU average, but on the other hand, Romania is bringing up the rear as far as financial intermediation is concerned, executive president of the Romanian Banks Association (ARB) Florin Danescu told the "Banking Forum" conference on Monday."The Romanian banking industry's solvency, liquidity, coverage, loan loss provision indicators are among the best in Europe, far above the European ...
Instant mobile payment service RoPay operational as of Oct 14
Monday, October 21, 2024
The new RoPay system, which allows users to perform instant mobile phone payments in accordance with the National Payment Scheme, is operational as of Monday, interbank settlement manager Transfond announced in a release.The first banks to join are CEC Bank and Libra Internet Bank, whereas BRD Societe Generale, ING Bank Romania, BCR and Banca Transilvania are in advanced stages of the system's implementation, as they are slated to roll out RoPay this year or during ...
Fidelis Bond Issue Sets Record with RON 3.5bn and 26,000 Orders
Monday, October 21, 2024
The Ministry of Finance (MF) raised over RON 1.5 billion and nearly EUR 387 million (totaling over RON 3.46 billion – EUR 697.2 million) through its fifth primary offer for government bonds targeting retail investors (FIDELIS), conducted via the Bucharest Stock Exchange (BVB) systems this year. “A new edition of FIDELIS concluded with an outstanding result: 6,500 lives saved by donor-investors. From the bottom of my heart, I thank all ...
Minutes of the monetary policy meeting of the National Bank of Romania Board on 4 October 2024
Monday, October 14, 2024
Publishing date: 11 October 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; Leonardo Badea, Board member and Deputy Governor of the National Bank of Romania; Eugen Nicolaescu, Board member and Deputy Governor of the National Bank of Romania; ...
Annual Seminar on Financial Stability Issues jointly organized by National Bank of Romania and the International Monetary Fund
Monday, October 14, 2024
The theme of this year's event was "On financial (in)stability and systemic risks in a world with high uncertainty and multiple disequilibria" For the past eighteen years the National Bank of Romania (NBR) in cooperation with the International Monetary Fund (IMF), has been organizing the seminar on financial stability issues. This year’s event took place on 3-4 October 2024 at the NBR Training Center in ...
Disinflation continues in Romania but more policy easing next month is unlikely
Monday, October 14, 2024
The deceleration in Romanian inflation from 5.1% in August to 4.6% in September is a positive sign for the trend of easing price pressureshttps://think.ing.com/ reads. However, the details indicate that policymakers are still far from declaring victory. We maintain our year-end forecast of 4.2%, acknowledging the presence of upside risks Food inflation came in stronger than we had expected, with the 0.8% ...
Agra Asigurari pays out RON 65 million in claims to farmers affected by bad weather in June
Monday, October 14, 2024
Agra Asigurari paid out RON 65 million in claims to farmers whose crops were affected by extreme weather in June 2024.In the 2023-2024 agricultural season, out of the portfolio comprising 1.508 million hectares insured, with almost 6,000 active policies, damage notices were reported form over 50% of them.The company's analysis shows that Constanta County was one of the most affected by extreme weather, with almost 600 approvals, of which ...
Alessio Cioni Appointed New CEO Of Intesa Sanpaolo Bank Romania
Monday, October 14, 2024
Intesa Sanpaolo Bank, the Romanian subsidiary of the Intesa Sanpaolo Group, announces the appointment of Alessio Cioni as General Director and Chief Executive Officer, whose official mandate began on 08.10.2024, after approval National Bank of Romania and registration at the Bucharest Trade Registry Office. Alessio Cioni is also an executive member of the bank’s Board of Directors. He succeeds Paolo ...
EU finance ministers welcome proposals for new EIB Group initiatives to deepen Europe’s capital markets
Monday, October 14, 2024
European Union Finance ministers have welcomed an Action Plan to be deployed by the European Investment Bank (EIB) Group, to support the development of the Capital Markets Union. The Plan includes measures to untap private savings and channel them into productive investment, to boost innovation, competitiveness, strategic autonomy, and productivity growth in Europe. The Action Plan was discussed at the meeting of EIB Group President Nadia Calviño with finance ...
Revolut wants to launch local branch in Romania in December
Monday, October 14, 2024
Revolut wants to launch a branch in Romania in December, this year, after announcing last year its launch in quarter 1, 2024, according to data presented by bank representatives at a press conference. Gabriel Simion, general manager of Revolut Romania branch, declared that the delay had nothing to do with problems found in problems in the local market. “Since 2021 we started ffering Romanian customers local account numbers ...
Central Bank Board decisions on monetary policy
Monday, October 7, 2024
In its meeting of 4 October 2024, the Board of the National Bank of Romania decided the following: to keep the monetary policy rate at 6.50 percent per annum; to leave unchanged the lending (Lombard) facility rate at 7.50 percent per annum and the deposit facility rate at 5.50 percent per ...
Quarterly reference index for consumer loans rises to 5.99% per year
Monday, October 7, 2024
The reference index for consumer loans (IRCC), regulated by Emergency Ordinance 19/2019, is 5.99% per year, an increase compared to the one published three months ago, of 5.86 % per year, informs the National Bank of Romania (BNR) on Monday.The index is calculated as the arithmetic mean of the daily interest rates of interbank transactions from the second quarter of 2024.According to Emergency Ordinance 19/2019, for loans granted in the national ...
Total value traded at BVB, 15.64 billion RON in H1 2024, up 82% vs H1 2023
Monday, October 7, 2024
The Bucharest Stock Exchange (BVB) reported a total traded value of 15.64 billion RON on the regulated market and SMT, representing an increase of 82% compared to the same period of the previous year, according to the Report on the evolution of the capital market by the Romanian Supervisory Authority.The number of transactions increased by 73% in the first quarter of 2024, and the stock market capitalization on the regulated market reached 339.9 billion RON, ...
iBanFirst currency outlook: Predictions for the Leu and EUR/USD pair in Q4 2024
Monday, October 7, 2024
As we enter the last quarter of 2024, iBanFirst, a leading global provider of foreign exchange and international payments, operating in 10 European countries, presents its Currency Outlook for the RON crosses as well as for the EUR/USD. These ...
New Non-Transferable Crypto Token Introduced by Trump
Monday, October 7, 2024
Former US President, Donald Trump and his family announced the launch of their new cryptocurrency venture World Liberty Financial in an X live stream on Tuesday. However, given the former President’s pro-crypto stance heading into the upcoming election, many have pegged the sudden news as an attempt to capitalize on all the attention. There are concerns that crypto ventures like this could one day make the US dollar ...
ASF: Non-banking financial market has essential role in green transition
Monday, October 7, 2024
The non-banking financial market has an essential role in the green transition, by increasing the level of transparency, preventing greenwashing practices and directing available resources to eligible economic activities, according to the Financial Supervisory Authority (ASF)."The European Commission has assumed, through the European Green Deal (Green Deal), a series of ambitious targets, including reducing net greenhouse gas emissions by at least 55% by ...
Private Equity Investments In Romania At 0.041% GDP, 40-Year Gap To West
Monday, October 7, 2024
The Private Equity (PE) market in Romania is underdeveloped compared to the situation in the region, as well as at the European and global levels, with the ratio of Private Equity investment value to local GDP being only 0.041%, ten times smaller than the similar ratio at the European level, according to an analysis conducted by ROCA, a private equity company in Romania. At the same time, however, the ...
Private pension schemes report assets of RON 148.6 billion as of end-June 2024
Monday, October 7, 2024
Private pension schemes in Romania reported assets amounting to RON 148.6 billion at the end of June 2024, up 30% year-on-year, and by 13% from end-December 2023, according to a report by the Financial Oversight Authority (ASF) on the private pension system in the first six months of 2024.The investment policy within the asset portfolios of private pension schemes continues to be focusing on the local financial market, with the share of investment in fixed ...