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Financial & Banking

FONDUL PROPRIETATEA FINANCIAL RESULTS FOR H1 2021

Monday, September 6, 2021

Fondul Proprietatea (hereinafter “The Fund”) published today its financial results for the six months ended 30 June 2021 and would like to share the following highlights: The share price had an impressive performance in the first half of the year, reaching another milestone in the Fund’s history: trading at a premium. As at the end of the first six months of the year, on 30 June 2021, the share price was ...

Study: Financial well being of the Z Generation

Monday, September 6, 2021

Between January – June 2021, eight NGOs from Romania, Finland, Denmark, Norway, Lithuania, Greece and Bulgaria, involved in the “Youth Finance Academy“ project, published a research about financial management of young people and young entrepreneurs. The study ”Financial Well-being of the Z Generation” was carried out on a sample of 1600 young people and young entrepreneurs and aimed to identify the key factors influencing the financial ...

The profit of the Romanian banking system increased in H1 / 2021 to a record 4.2 billion lei

Monday, September 6, 2021

Romania’s banks recorded a cumulated net profit of approximately RON 4.2 billion (EUR 857 mln) in the first half of this year, up by more than 50% compared with the same period of last year. Their assets rose to RON 585.9 billion (EUR 119 bln), boosted by the 7.7% increase in lending, according to preliminary data from Romania’s National Bank (BNR). This was the best first half for ...

BNR: Monetary indicators – July 2021

Monday, August 30, 2021

At end-July 2021, broad money (M3) amounted to RON 525,187.0 million, up 1.1 percent (0.1 percent in real terms) month on month and 17.7 percent (12.2 percent in real terms) year on ...

RTPR advises Rodbun Grup on new syndicated financing 

Monday, August 30, 2021

RTPR has assisted Rodbun Grup SA in relation to a syndicated loan in amount of RON 278 million to cover regular capital needs as well as to support development plans of the group. The financing was granted by a syndicate of banks made of Banca Comerciala Romana, as mandated lead arranger, ...

Alpha Bank Romania achieves pre-tax profit of 10.6 million Euro, during first semester

Monday, August 30, 2021

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Alpha Bank Romania obtained a pre-tax profit of 10.6 million Euro, during the first semester, rising from the same period of last year, influenced by the drop in risk cost, according to a press release sent by the bank."Pre-tax profit reached 10.6 million Euro, the growth registered from the same period of last year being influenced by the reduction in risk cost. The low level of provisions registered during the first semester of 2021 reflects our portfolio's ...

Online app for authorization process on non-banking financial market launched by ASF

Monday, August 30, 2021

The Financial Oversight Authority (ASF) has launched an online instrument that facilitates the process of authorization on the non-banking financial market which is part of the institution's strategy to digitize its activity, announced, on Thursday, the ASF.The new section of the Authorization heading, hosted on the Authority's website, makes available to those interested a list with all the necessary documents in the process of authorization on all three markets, ...

BRK Financial Group becomes one of the listed companies that benefits from the Issuer Market Maker program

Monday, August 30, 2021

BRK Financial Group, the broker listed on BVB’s Main Market that supports the liquidity for 12 financial instruments, will benefit as an issuer from the Issuer’s Market Maker program. WOOD & Company will support the liquidity for BRK Financial Group shares by starting the Issuer’s Market Maker activity on August ...

Bankata.ro raises EUR 180,000 funding for development

Monday, August 30, 2021

* Bankata.ro, a fintech platform that aggregates and compares financial products, raised a funding of EUR 180,000 to develop and implement the business plan. The investment is coordinated by Sparking Capital, as Lead Investor, in partnership with private investors (business angels).   Bankata.ro is a digital platform that objectively compares all financial products available to customers in ...

Uniqa companies conclude first semester with 3.7 million euro net profit

Monday, August 30, 2021

 Uniqa Asigurari and Unica Asigurari de Viata concluded their first semester of 2021 with a net profit of 3.7 million euro, according to the IFRS, shows a press release from the companies.At the same time, the total volume of gross written premiums recorded by the two Uniqa companies until the end of the first semester of 2021 is situated at the level of 48.8 million euro, according to the IFRS, an increase of 7 pct over the result of the same period of last ...

PM Citu: I'm interested in keeping same tax system until 2024 the least

Monday, August 30, 2021

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Prime Minister Florin Citu on Tuesday said, at a discussion with representatives of the Coalition for the Development of Romania, that he wants the tax system to remain the same at least until 2024, without tax increases."Since our last discussion, we also have a Minister of Finance whom you could have a dialogue with. Today he has a press conference to present some modifications, I'd say, very good ones at the Tax Code. We're not talking about taxes and so on, ...

Banca Transilvania Financial Group’s net profit up 47% in H1

Monday, August 30, 2021

Banca Transilvania Financial Group ended the first half of 2021 with a consolidated net profit of RON 1.015 billion, up 47% year-on-year, Ziarul ...

New syndicated loan worth 278 million RON from BCR to Rodbun Group

Monday, August 30, 2021

Banca Comerciala Romana (BCR) has arranged a syndicated loan worth 278 million RON for the Rodbun Group, one of the most important agri-business companies in Romania, according to a press release of the bank."The openness the banks in Romania show, through syndicated loans, to companies with 100 pct Romanian capital, certifies a maturation and a full responsibility of the business and lending environment in Romania. Basically, we act together, to increase the ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 6 August 2021

Monday, August 23, 2021

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16 August 2021   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, Board member and Deputy Governor of the National Bank of Romania; Eugen Nicolaescu, Board ...

Raiffeisen Bank to refund to customers any amounts collected in excess

Monday, August 23, 2021

  Raiffeisen Bank proceeded to implement the ANPC (National Authority for Consumer Protection) order according to which the management fee could not be included in the interest margin for the restructuring of the loans, and after the restoration of the calculations, the bank will return to the clients any amounts collected in excess, the bank's representatives said."The court's decision is from the year 2020 and does not establish amounts of payment by the bank. ...

EximBank grants EUR 5 M financing facility to Italsofa Romania

Monday, August 23, 2021

EximBank has granted a 5 Million Euro financing facility to Italsofa Romania, a local furniture company. The funds will cover the necessary liquidity for current business and have been guaranteed by a state aid guarantee issued under the Governmental Program for supporting large companies impacted by COVID-19 pandemic. The guarantee covers 90% of the loan.   „Concluding this financial ...

Libra Internet Bank increases profit fivefold in first half

Monday, August 23, 2021

Libra Internet Bank, one of the medium-sized Romanian lenders, posted a net profit of RON 123 mln (EUR 25.1 mln) in the first half of this year, up more than five times compares with the same period of 2020.   The bank recorded higher operating profit as it managed to increase operating revenues and reduce operating expenses.The bottom line was also boosted by the reversal of risk provisions related to its loan portfolio.   Libra was among the most ...

BRK Financial Group buys 10% stake in local bank

Monday, August 23, 2021

BRK Financial Group (BRK), one of the biggest independent brokerage and fund management companies in Romania, has bought a 9.86% stake in local lender TechVentures Bank. The company said it made the investment from its own funds but didn't disclose the price paid for the stake.   Through this acquisition, BRK intends to form a partnership with TechVentures Bank to develop mixed products such as linking the balance of the trading account with the bank ...

Vienna Insurance Group records strong results in the first half of 2021

Monday, August 23, 2021

Vienna Insurance Group’s figures for the first half of 2021 show very positive results. All key figures show significant improvements compared to the same period in the previous year, indicating that performance continues to be highly stable during the ongoing Covid-19 pandemic.   “VIG Group business development is continuing at the level before the coronavirus pandemic. The significant increase both in premium volume and in profit was achieved in an ...

Patria Bank posts net profit higher by 27%, after first half of this year

Monday, August 23, 2021

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Patria Bank posted a net profit of 6.05 million RON, after the first half of this year, rising by 27% from the same period of 2020, which came from the favorable evolution of both operational income, as well as from the contraction of operational costs which led to an operational result of 85% larger, according to the half-year Report of the bank sent on Tuesday to the Bucharest Stock Exchange.During the first half of this year, Patria Bank granted loans worth over 492.5 million ...

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