Loading page...

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

Subscribe|Login

Financial & Banking

SIF Oltenia's H1 net profit drops to 27.09 ml lei

Monday, August 17, 2020

Financial investment company SIF Oltenia posted a net profit of 27.09 million lei as of June 30, 2020, down from the 114.28 million lei registered in the same period last year, as well as compared to the budgeted 27.522 million lei, shows the company's report to the Bucharest Stock Exchange.SIF Oltenia's total revenues in H1 2020 amount to 34.76 million lei, standing at 27.42 percent of the 126.7 million lei reported a year ago.Total expenses at the ...

BVB Group posts 10 pct higher mid-year consolidated net profit

Monday, August 17, 2020

The mid-year consolidated net profit of the Bucharest Stock Exchange (BVB) Group was 10 percent higher, at 4.24 million lei, with the group's trading segment accounting for 75 percent of the amount, show the financial results released on Thursday.(1 euro = 4.8357 lei)The group's operating revenues were up by an equal 10 percent, reaching 19.58 million lei, as revenues from the trading segment increased by 11 percent to 11.31 million lei, and those from the ...

Government bonds for retail investors start trading on Bucharest Stock Exchange following EUR 420 M subscription

Monday, August 17, 2020

The Ministry of Public Finance (MFP) attracted RON 1.22bn and EUR 168.4mn. (in a total amount of RON 2.04bn – EUR 422mn), through the primary offer for the sale of government bonds for the population (FIDELIS), which took place between July 15th and August 7th, through the Bucharest Stock ...

OTP Bank Romania: rising risk costs shadows robust expansion

Monday, August 17, 2020

OTP Bank Romania reported its consolidated net profit contracted by 69% year-on-year to RON 17 mln (EUR 3.5 mln) in the first six months of the year. Despite rising profit from operations, the bank's bottom line deteriorated because of the 142% rise in the risk costs to RON 76 mln, out of which RON 59 mln prompted by the expected effects of the economic crisis generated by the ...

Leonardo Badea : The effect of crises to amplify inequalities is manifested not only at the level of individuals but also between countries

Monday, August 17, 2020

200817100710Leonarda_Badea.jpg

(This interview with Leonardo Badea, the Deputy Governor of the National Bank of Romania, does not reflect the position of the BNR) - If we refer to the current pandemic crisis, paraphrasing, can we say that “this time is different”? Would it have helped us to pay more attention to what the previous crises have shown us? Associating this famous quote to the current situation is indeed tempting, ...

BNR Board decisions on monetary policy

Monday, August 10, 2020

In its meeting of 5 August 2020, the Board of the National Bank of Romania (BNR) decided the following: to cut the monetary policy rate to 1.50 percent per annum from 1.75 percent per annum starting 6 August 2020; to lower the deposit facility rate to 1.00 percent per annum from 1.25 percent per annum and the lending (Lombard) facility rate to 2.00 percent per annum from 2.25 ...

CFA: Confidence in economy will not return unless medical crisis is resolved

Monday, August 10, 2020

200810104753cfa_opengraph_share_image.png

Elections have complicated the adoption of measures to reduce the sanitary crisis, so first the medical crisis must be resolved and then stronger measures could be adopted to relaunch economy,  said the president of CFA Romania, Adrian Codirlasu, on Thursday. “There is higher volatility in markets before elections. In Romania's case, elections complicated the adoption of measures to attenuate the sanitary crisis. This year, deficit is in ...

BNR's International reserves – July 2020

Monday, August 10, 2020

On 31 July 2020, the National Bank of Romania’s foreign exchange reserves stood at EUR 36,249 million, compared to EUR 35,002 million on 30 June 2020. During the month, the following flows were recorded: EUR 4,722 million worth of inflows representing changes in credit institutions’ foreign currency-denominated required reserves, inflows into the Ministry of Public Finance’s accounts (including the ...

OTP Bank Romania announces the financial results for S1 Of 2020

Monday, August 10, 2020

OTP Group  has announced the financial results for the first semester of 2020. 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 during the first six months of the year an after tax profit of RON 17 million (HUF 1.1 billion), lower than the result of the first half of 2019, having doubled the risk costs in the context of the Covid-19 ...

Erste improves forecast for Romanian Q2 GDP

Monday, August 10, 2020

Erste Bank analysts said on Wednesday they expect a quarterly contraction of Romania's economy of 10.8% in the second quarter of 2020, an improvement over a previously estimated shrinking of economic output by 15.2%, seenews.com reads. The improvement was due to better-than-expected recent readings on soft and hard data, Erste Bank said in an analysis. Among Erste's nowcasting models for economic growth, the supply ...

 Loans of over RON 23 Bln granted to citizens and companies during March-June

Monday, August 10, 2020

200810104840download.jpeg

The volume of the new loans granted to the Romanian population and companies based in Romania during the first four moths of 2020, so during the coronavirus pandemic, represents 8.5% of the balance of the non-governmental credit related to June 2020. More precisely, banks in Romania have granted new loans to citizens and companies worth over RON 23.1 billion during March-June this year. During the state of emergency the ...

ANAF's 2019 budget collections at 271.62 bln lei, 99.2 pct of planned amount

Monday, August 10, 2020

Collections by the National Tax Administration Agency (ANAF) last year amounted to 271.639 billion lei, which represents a 99.2 percent achievement rate of the budget revenue plan, shows the 2019 activity report published on the agency's website.According to the cited document, ANAF collections in 2019 were by about 10.9 percent or 26.806 billion lei higher compared to the 244.832 billion lei collected in 2018.ANAF points to the increase of the GDP ...

Raiffeisen Bank finances over 100 Romanian startups within Factory 2020 programme

Monday, August 10, 2020

Raiffeisen Bank has completed the third edition of the Factory by Raiffeisen Bank programme whereby it finances businesses at the beginning of the road, regardless of the field of activity, and this year the bank is providing 112 financing plans to support startup companies, with a maximum budget of 50,000 euros, equivalent in lei, for each project, according to a press release from the bank. "Our business idea factory has had an intense activity over the ...

Negative cost of risk halves Romania's BRD net profit in H1

Monday, August 10, 2020

 Romanian bank BRD [BSE:BRD], part of France's Societe Generale group, said on last Monday its first-half net profit fell by an annual 49.5% to 405 million lei ($99 million/ 84 million euro), influenced by a negative cost of risk and a deteriorated economic perspective. Cost of risk turned negative at the end of June to 202.6 million lei versus a release of 153 million at the end of June 2019, mainly reflecting ...

BCR turns to profit in H1

Monday, August 10, 2020

The second biggest Romanian bank by assets, Banca Comerciala Romana (BCR), part of Erste Bank Group, reported RON 499 million (EUR 104 mln) net profit in the first half of the year (H1) compared to RON 20.8 mln (EUR 4.4 mln) losses in the same period last year. The losses in 2019 were generated by provisions related to a negative court decision impacting BCR's housing bank ...

FinMin: Romania doesn’t need IMF agreement this year

Monday, August 3, 2020

Romanian finance minister Florin Citu speaking for B1 TV station assured that the country does not need an agreement with the IMF “this year.” He also said that the Government would observe the 6.7%-of-GDP public deficit target, which, he commented, is very tight compared to the 13% gap in the European Union and nearly 24% of GDP in the ...

Analyst: EU financing adds 5pp to Romania’s GDP annual growth by 2027

Monday, August 3, 2020

200803100359apply_for_financing.png

If Romania absorbs the EUR 80 bln financing from the European Union, the country can reach an additional economic growth of 5pp each year in the next seven years, estimates CFA Romania president Adrian Codirlasu, quoted ...

Marcel Bolos: Romania has attracted European funds of 2.3 billion euros during Orban government

Monday, August 3, 2020

Romania has attracted, during the Orban government, European funds of 2.3 billion euros, while in the last 6 years, overall funds of 5.6 billion euros were attracted, Marcel Bolos, the minister for European Funds declared in Botosani on Tuesday. According to him, the European fund absorption degrees grew from 30% in 2019 to 44% at present. “Since November 4, when we took over the rule, we also received 5.6 billion euros. ...

Law on increasing authorized capital held by Romania with IBRD promulgated

Monday, August 3, 2020

President Klaus Iohannis promulgated on Tuesday the law on increasing authorized capital held by Romania with IBRD with over 21 million dollars. According to the law,the increase of the authorised capital held by Romania with IBRD with 682 shares, worth 82,273,070 dollars is approved, according to provisions of Resolution 663/2018, adopted by the IBRD Governors' Council on October 1, 2018. The capital value is 16,454,614 US ...

 Romania's card transaction volume at 28 bln lei in Q2

Monday, August 3, 2020

The number of payments by cards issued by resident payment service providers was 9.6 percent up to 222.2 million in Q2 this year compared to the year-ago period, while the amount of payments was 28.27 billion lei, according to the platform dreptullabanking.ro, titled after the financial intermediation campaign ran by Romanian banks - #TheRightToBanking.Citing preliminary statistical data provided by the banking institutions to the National Bank of Romania, card ...

Premium News

Daily

Thursday, October 22, 2020

Financial & Banking

Monday, October 19, 2020

Economic

Tuesday, October 20, 2020

Companies

Wednesday, October 21, 2020

Energy & Environment

Thursday, October 22, 2020