Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS

Subscribe|Login

Financial & Banking

Romania’s central bank and ruling party clash over monetary policy

Monday, April 2, 2018

Romania’s National Bank (BNR) was forced to increase the monetary policy rate twice this year due to the accelerated increase in the annual inflation rate, with ample effects on the business environment, BNR governor Mugur Isarescu said in a public hearing at the Senate’s economic committee on Thursday, March 29, romania-insider.com ...

Entrepreneur looking for finance in Romania: Here are some of the options from banks and the costs

Monday, April 2, 2018

Banks in Romania are looking to expand their financing facilities for small and medium-sized companies in Romania, while some of the lenders have boosted their presence in the local start-up ecosystem, business-review.eu comments. BR has talked to some of the largest banks in Romania to find out what’s their strategy on financing entrepreneurial companies. Here are some the costs that entrepreneurs should take into ...

Gov't to increase from 2pct to 3.5pct share of individual income that can be allocated to NGOs

Monday, April 2, 2018

The Government will approve under an emergency ordinance a number of tax changes, including an increase from 2 percent to 3.5 percent of the share of the personal income tax that may be allotted to non-governmental organisations and religious denominations, providers of social services accredited with at least a licensed social service, Prime Minister Viorica Dancila said on Thursday."As promised, today we are starting to approve, under an emergency ordinance, a ...

Romanian factoring market exceeded EUR 4.56 bln in 2017

Monday, April 2, 2018

Factoring market exceeded EUR 4.56 billion in 2017, according to a study of the Romanian Factoring Association, business-review.eu informs. The general growth on all financing categories through factoring was 13 percent, considering that the previous year the increase was by 10 percent. “The highest contribution to the factoring operations came from big companies with turnover of over EUR 50 million, while the ...

Global Finance: Raiffeisen, the “Best Bank in Romania”

Monday, April 2, 2018

Raiffeisen Bank International AG (RBI) was named “Best Bank in Central and Eastern Europe” by “Global Finance” in the framework of “The World’s Best Banks 2018” awards competition, romaniajournal.ro informs. The renowned financial magazine awarded this prestigious regional title to RBI for the twelfth time in the last 15 years. Furthermore, RBI’s subsidiary banks in Bosnia and ...

Optional pension funds - assets of 1,846 bn lei on February 28, 2018

Monday, April 2, 2018

The optional pension funds had assets worth approximately 1,846 billion lei on February 28, 2018, up 17.18% from February 28, 2017, according to the data of the Financial Supervisory Authority (ASF).The state securities held the highest share in the assets, of 1.059 billion lei, respectively 57.4%. On the second place were the shares, with 414.98 million lei (22.48%). Corporate bonds ranked third in this respect, with 116.387 million lei and 6.3% of total ...

ASF: Mandatory private pension funds see assets of 41.71 bn lei on February 28, 2018

Monday, April 2, 2018

The mandatory private pension funds had assets worth about 41.71 billion lei on February 28, 2018, up 25.73% from February 28, 2017, according to data from the Financial Supervision Authority (ASF).The state securities hold the largest share in the assets, of 24.72 billion lei, 59.27% respectively. On the second place there are the shares, with 8.48 billion lei (20.33%). Bank deposits ranked third in this respect, with 4.26 billion lei, or 10.22% of the total ...

Number of Raiffeisen mobile banking users doubles in 2017

Monday, April 2, 2018

The number of individuals using the Raiffeisen Smart Mobile banking application increased almost 100 percent in 2017, making Romania the country with the second largest number of digital customers of Raiffeisen Bank International Group (RBI) after Russia, the bank said in a release.Customers opt for mobile payments because of the simple way to login and authorize payments by fingerprint or, for iPhone X, through Face ID. They can also activate the widget allowing ...

Total outstanding loans in lei - up 1.66%, forex ones - down 3.68%, in February

Monday, April 2, 2018

 The total outstanding loans in lei of the population and companies, registered in February 2018, amounted to 4.985 billion lei, up by 1.66% compared to the amount reported in January 2018, and the outstanding repayments of the loans in foreign currency fell 3.68% to 4.232 billion lei (equivalent), according to a report by the National Bank of Romania (BNR).Total lei loans reached 147.07 billion lei (by 0.39% more than in the previous month), of which 61.69 ...

EC worried about the lower private pension contributions in Romania

Monday, March 26, 2018

18032610304225_pensie_dreamstime_l_1081263_605x.jpg

The European Commission criticized the Romanian Government’s decision to reduce the contributions to the mandatory pension funds and is worried this will affect the pension system and the local capital market, according to the EC’s recent report on Romania’s economic evolution, quoted by the Pension Fund Managers’ Association – APAPR, romania-insider.com informs. According to the ...

Bloomberg: This Is What Eastern EU Central Banks Will Discuss Through April

Monday, March 26, 2018

Czechs, Romanians hiked rates and may do so again by year-end Hungary, Poland take wait-and-see approach as inflation slows Central banks are meeting in the next three weeks in eastern European Union countries that have diverged in their approach to interest rates, bloomberg.com informs. The Czech Republic became Europe’s first nation to raise ...

Raiffeisen Bank Romania hosts its first competition for start-ups | Loans up to EUR 50,000 per project

Monday, March 26, 2018

Raiffeisen Bank Romania has launched a competition designed to support start-ups with loans up to EUR 50,000 for each projects, business-review.eu informs. Entrepreneurs and SMEs that have been operational for less than 2 years can submit their projects by April 22 as part of the bank’s Factory by Raiffeisen Bank initiative. Shortlisted candidates will have to develop their business plans in front of a selection committee that will choose the ...

Cumulative level of net assets of SIFs, down 1.5 pct in February

Monday, March 26, 2018

 The cumulative level of the net assets of the five SIFs (Financial Investments Society) was 8.7 billion lei in February, down 1.5 pct from the level recorded at the end of January, reads a press release of the Association of Fund Managers in Romania (AAF)."Following the evolution of the net assets in the reported month, we can see that most of the five SIFs registered negative developments, a 3.8 pct decrease in SIF Banat-Crisana, 2.8 pct at SIF Muntenia and ...

Companies' and households' deposits up 0.9 pct in February

Monday, March 26, 2018

 The deposits of households and companies increased by 0.9 percent in February compared to the previous month, up to the level of over 306.642 billion lei, a release of Romania's National Bank (BNR) sent on Friday informs."The population's household deposits in lei increased by 1.2 percent, up to 113.682 billion lei. On 28 February 2018, population's household deposits in lei recorded a growth of 8.8 percent (3.9 percent in real terms) compared to 28 February ...

Non-government loans granted by credit institutions advance 0.2pct in Feb. 2018

Monday, March 26, 2018

Non-government loans granted by credit institutions advanced 0.2 percent (down 0.1 percent in real terms) from January 2018 to 233,326.3 million lei, according to a press statement released on Friday by the National Bank of Romania (BNR)."Non-government loans granted by credit institutions advanced 0.2 percent (down 0.1 percent in real terms) from January 2018 to 233,326.3 million lei (RON). RON-denominated loans expanded 0.4 percent (up 0.1 percent in real ...

VIG Romania in 2017: gross profit grew by 76 pc, to EUR 6.2 M

Monday, March 26, 2018

Vienna Insurance Group (VIG) operations in Romania generated a profit before tax of EUR 6.2 million in 2017, up by 75.9 percent compared to 2016, when the profit was EUR 3.5 million, according to preliminary results for financial year 2017, revealed by the Austrian group, romaniajournal.ro informs. VIG is also present in Romania through the insurance companies Omniasig, Asirom and BCR Asigurari de Viata and recorded in 2017 a total gross written ...

Credit Europe Bank Romania posts 54 ml lei in pre-tax profit for 2017

Monday, March 26, 2018

 Credit Europe Bank Romania closed the financial year 2017 with 54 million lei in pre-tax profit, up 32 percent from the previous year, the banking institution announced on Wednesday in a release.The bank had a strong financial performance with a solvency ratio above 20 percent.On the retail segment, credit cards under CardAvantaj brand name continued to be the main driver of growth. Their number further increased and the usage turnover was more ...

Banca Transilvania joins other Romanian banks in seeking AI-powered services

Monday, March 26, 2018

Banca Transilvania, the second largest bank in Romania, has announced a partnership with Personetics, the leading provider of Cognitive Banking applications, to make AI-powered financial guidance an integrated part of the bank’s digital customer experience, business-review.eu informs. Other banks in Romania that have explored artificial intelligence solutions include Raiffeisen Bank and BCR. The Cognitive Banking app ...

Turnover of ING Tech Romania up by nearly 50 pct in 2017 to EUR 28 mln

Monday, March 26, 2018

180326103205ing_romania_538x332.jpg

The turnover of ING Tech Romania, the software development centre of ING Romania, increased by 47 percent in 2017, business-review.eu reads. The centre, which currently employs 500 IT experts, plans to reach 750 staff by 2020. In order to accommodate its growing team, the company is on the lookout for new headquarters and plans to move by 2020. ING Tech Romania’s significant growth was reflected ...

Romania: Staff Concluding Statement of the 2018 Article IV Mission

Monday, March 19, 2018

180319103937maxresdefault.jpg

  * A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations ...

Premium News

Daily

Friday, May 25, 2018

Financial & Banking

Monday, May 21, 2018

Economic

Tuesday, May 22, 2018

Companies

Wednesday, May 23, 2018

Energy & Environment

Thursday, May 24, 2018