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Financial & Banking

Leonardo Badea, PhD: Perspectives of economic development considering the climate change imperatives

Monday, August 23, 2021

Leonardo Badea is Deputy Governor National Bank of Romania     Climate change is a huge challenge for humanity to adopt a new style of sustainable development and also a big opportunity to shape the society of the future based on more balanced and inclusive growth. This is more than a choice, it is our duty to future ...

Opening speech at the plenary meeting of the Center of Excellence in Finance Mugur Isarescu, BNR Governor

Monday, August 16, 2021

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Esteemed Director Repansek,   Distinguished Members of the Governing Board, Honoured colleagues,   It is my great privilege to welcome and address you all today, at the end of my mandate as Chair of the Governing Board of the Center of Excellence in Finance (CEF), on behalf of Romania. For me, it is an ...

BNR: Balance of payments and external debt – June 2021

Monday, August 16, 2021

In January - June 2021p, the balance-of-payments current account posted a deficit of EUR 7,040 million, compared with EUR 4,059 million in the same year-ago period, BNR ( the National Bank of Romania) data show.. The breakdown shows that the deficits on trade in goods and on primary income widened by EUR 1,557 million and EUR 1,110 million, respectively; the surplus on secondary income and that on services decreased by EUR 276 million and EUR 38 million, ...

BVB:Total trading value breaks RON 10-billion ceiling in the first 7 months as the Romanian capital market goes up 25 percent

Monday, August 16, 2021

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The intense trading activity at BVB caused the cumulative value of transactions for all the types of financial instruments to exceed RON 10 billion in the first seven months.   The capital market reached record values in July: over 12,000 points for the BET index and over 21,000 points for the BET-TR ...

SIF Transilvania ends H1 with net profit of 58.27 million lei

Monday, August 16, 2021

SIF Transilvania Financial Investment Company (SIF3) registered in H1, 2021 a net profit of 58.27 million lei, compared to losses of 40.598 million lei reported at the end of June 2020, according to the data sent on Friday to the Bucharest Stock Exchange.The company's net revenues were of 73.767 million lei, by 59.22 million lei higher compared to those provided in the budget of revenues and expenditures for H1, 2021.Operational expenses registered on ...

SIF Oltenia's H1 net profit of 27.493 million lei

Monday, August 16, 2021

Financial investment company SIF Oltenia posted a net profit of 27.493 million lei in the first six months of this year, slightly up by 1.4 pct, compared to the same period of the previous year, shows the company's report sent to the Bucharest Stock Exchange on Friday.The company's revenues totaled 39.344 million lei (34.763 in H1 2020), while expenses amounted to 10.474 million lei (6.292 in H1 2020).Dividend income as of June 30, 2021 was lower than ...

OTP Bank Romania: Financial results for H1 of 2021

Monday, August 16, 2021

OTP Group announces the financial results for the first semester of 2021. According to the report published in Budapest, which presents the consolidated results adjusted in accordance with the Group´s standards, OTP Bank Romania has registered an after tax profit of RON 27 million during the first half of 2021, marking an increase of nearly 50% compared to the first half of last year.   “The steps we are ...

Two deputy general managers of Intesa Sanpaolo Bank received BNR’ approval

Monday, August 16, 2021

  Bogdan Patranoiu and Dan Grigoriu received BNR approval to exercise new attributions within Intesa Sanpaolo Bank and the necessary formalities have been fulfilled.   With almost 25 years’ experience in equity investment, underwriting and risk management, as well as in international transactions and business development, previously holding management positions in several international financial ...

In 14 years, Romanians have made 820 million payments through the PayPoint Romania network

Monday, August 16, 2021

In the 14 years since PayPoint entered the Romanian market, Romanians have made over 820 million payments worth 69 billion lei, though the company’s national network.   Of these, approximately 123 million payments were made in the last year alone (July 2020 – July 2021), and their value amounts to over 13 billion lei. The average value of a transaction, according to data from the last 13 years, was 80 lei, and ...

BCR : BNR could operate a first key rate hike in November

Monday, August 16, 2021

In light of the refused inflation forecast published by the National Bank of Romania (BNR), Romanian bank BCR expects the central bank to hike the refinancing rate by 25bp in November and by some 25-50bp in 2022 "depending on the fiscal conduct."  BNR shifted upward the projected inflation trajectory, which is now expected to hit 5.6% at the end of this year (+1.5pp compared to May forecast) and 3.4% (+0.4pp) at the end of ...

CMS advises BRD – Groupe Société Générale S.A. and Garanti BBVA on EUR 120m ESG loan to NE Property BV

Monday, August 16, 2021

International law firm CMS has advised the bank syndicate led by BRD – Groupe Société Générale S.A. and Garanti BBVA Romania on a EUR 120 million sustainability-related loan to a company in the NEPI Rockcastle, NE Property BV ...

 Life insurance subscriptions up 11.6pct in Q1 to over 688 million lei

Monday, August 16, 2021

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The volume of gross written premiums in the life insurance segment saw an increase of 11.6pct in the first quarter of the year compared to the same period last year, exceeding the level of 688 million lei, according to the latest sociological research conducted by the National Union of Insurance and Reinsurance Societies of Romania (UNSAR) together with IRES."In the first three months of this year, Romanians chose the protection offered by life insurance, ...

Banca Transilvania extends loans for education institutions

Monday, August 16, 2021

Banca Transilvania offers loans to educational institutions through Skills & Education, a credit program backed by guarantees provided under the European Investment Fund (EIF).   The loans are aimed at businesses in the field of education. Kindergartens, schools, universities and companies that invest in employee training can get funding. 80% of the loan is guaranteed by the European Investment ...

ING Bank Romania launches "green" loans for individuals

Monday, August 16, 2021

ING Bank Romania launches what it claims to be the first 'green' loan in its retail portfolio, dedicated to those wanting to buy a full-electric or hybrid electric vehicle. Derived from the credit offer for personal needs, it has an interest rate between 5.49% and 9.99% per year - "almost two percentage points lower than the standard personal loan offer".   The average ...

Stanleybet lists 3-yr bonds at BVB

Monday, August 16, 2021

  Stanleybet Capital, an integrative entity for the business lines developed by the companies from the Game World group on the Romanian gambling and sports betting market, issued RON 20 mln (EUR 4 mln) of bonds in a private placement that ended on August 5 and will list the instruments on the Bucharest Stock Exchange (BVB). The bonds, issued with the support of Goldring, have a three-year tenant and carry a 10% ...

BNR Board decisions on monetary policy

Monday, August 9, 2021

In its meeting of 6 August 2021, the Board of the National Bank of Romania (BNR) decided: 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 1.75 percent per ...

BRD GROUP RESULTS FOR H1 2021 : STRONG COMMERCIAL ACTIVITY AND EXCELLENT FINANCIAL PERFORMANCE

Monday, August 9, 2021

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The main commercial trends and financial indicators of BRD Groupe Société Générale at June 30, 2021 at consolidated level, according to the International Financial Reporting Standards (IFRS): - A broad based growth strong loan production for individuals, +58% YoY and +19% vs H1 ...

IFC Supports Garanti BBVA Leasing to Boost Financing for Small Businesses in Romania, Accelerate Recovery

Monday, August 9, 2021

IFC's €10 million loan to Garanti BBVA Leasing Romania, a dynamic financial group in the local market, will help small businesses in the country continue their operations, protect jobs, and accelerate recovery.   In Romania, 34 percent of formal micro, small, and medium enterprises (MSMEs) are women-owned, however they continue to represent an underserved segment of the SMEs in the country, according ...

CERT-RO: Phishing attacks detected targeting Romanian bank customers

Monday, August 9, 2021

Provider of cybersecurity services ProDefence offered the National Cyber Security Incident Response Team CERT-RO several phishing samples as seen in the attacks targeted at the customers of certain Romanian banks, and whereby the hackers mimicked the visual identity of the respective financial institutions, CERT-RO said today in a Facebook post."Our ProDefence friends have offered us this weekend several phishing samples of attacks targeting customers of ...

ASF Report: City Insurance used fake bank statements to demonstrate capitalisation

Monday, August 9, 2021

Romanian insurer City Insurance used fake bank account statements from a foreign bank, with the direct involvement of Chairman of the Managing Board Renato Szilagy, according to the conclusions of the financial markets regulator ASF following the inspection at the company that was subsequently placed under external management.   The bank statements apparently fail to comply with the procedures followed by ...

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