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Financial & Banking
ING Bank Romania net profit drops 26 pct January through September 2020
Monday, November 23, 2020
At the end of September 2020, ING Bank Romania recorded a net profit of 443 million lei, down 26 pct compared to the same period last year, according to a press release sent on Wednesday.The bank's total revenues increased by 2 pct to 1.57 billion lei, while operating costs increased by 8.6 pct.The loan portfolio reached a total of 27.8 billion lei in September, indicating an increase of 4 pct against last year, and the deposit portfolio ...
BNR Board decisions on monetary policy
Monday, November 16, 2020
In its meeting of 12 November 2020, the Board of the National Bank of Romania (BNR) decided the following: to keep the monetary policy rate at 1.50 percent per annum; to leave unchanged the deposit facility rate at 1.00 percent per annum and the lending facility rate at 2.00 percent per ...
FinMin Citu is confident in S&P’s decision, rules out IMF agreement
Monday, November 16, 2020
Romania's GDP will contract by only 4% this year (+/-0.2pp), S&P will maintain the sovereign debt rating in the investment-grade area, and the country will need no agreement with the International Monetary Fund, finance minister Florin Citu said in a press conference before the Parliament meeting on budgetary and economic matters. He argued that ...
BNR: Balance of payments and external debt – September 2020
Monday, November 16, 2020
In January - September 2020p, the balance-of-payments current account posted a deficit of EUR 7,737 million, compared with EUR 7,942 million in the same year-ago period, the Central Bank (BNR) stated. The deficit on trade in goods widened by EUR 1,165 million, the surplus on services increased by EUR 392 million, the primary income balance saw its deficit narrowing by EUR 401 million, and the surplus of the secondary income balance rose by EUR 577 ...
BT’s Financial Results as at September 30, 2020; Banca Transilvania, ready to Support the Recovery of the Economy
Monday, November 16, 2020
Banca Transilvania has had a significant contribution to the recovery of the economy in Q3, after the shock generated by the first pandemic wave. BT’s loan balance grew by RON 1.1 bn. during the third quarter, reaching RON 40.1 bln. The Bank has granted more than 7,000 financing facilities via the government program IMM Invest, counting ...
Getin Holding authorised the Rothschild bank to manage the sale of Idea Bank Romania
Monday, November 16, 2020
The board of the Polish financial holding Getin Holding took the decision to continue a possible sale of all shares owned with Idea Bank Romania and signed an agreement for financial counselling with the international bank of investments Rothschild, according to a press release of Getin. Idea Bank (the former Romanian International Bank) was taken over in 201 by Getin Holding, one of the biggest ...
Ghetea: digitisation in the banking system saved lives, contributed to the implementation of the measures of social distancing
Monday, November 16, 2020
Digitisation in the banking system has saved lives, contributing to the implementation of the measures of social distancing imposed by military ordnances, stated on Wednesday Radu Ghetea, honorary chairman of the Romanian Association of Banks and chairman of the board of Libra Internet Bank, at the conference ‘ Digital Financial-banking services and Cyber security’. According to him, through services such as mobile banking the clients ...
Alpha Bank Romania to become latest member of the Energy Efficient Mortgages Pilot Scheme
Monday, November 16, 2020
The Energy Efficient Mortgages Initiative (EEMI) is delighted to announce that Alpha Bank ...
Raiffeisen Bank Romania reports 9% stronger 9M profit
Monday, November 16, 2020
Raiffeisen Bank, the Romanian subsidiary of Raiffeisen Bank International, reported a RON 583 million (EUR 120 mln) net profit in January-September, 9% higher compared to the same period in 2019. "Given the conditions - the lockdown in the second quarter, the decrease in operating income and the increase in the bank's provisions - the fact that we report an increase in lending makes me very satisfied with what we have ...
Groupama Asigurari: Local insurance market mounts robust response to pandemic crisis
Monday, November 16, 2020
François Coste, General Director of Groupama Asigurari, highlighted for https://business-review.eu/ the way the coronavirus pandemic has challenged the local insurance market and outlines the main changes we will see in the coming period as a result of this complex crisis. What impact has the pandemic had on the Romanian financial and insurance ...
BCR launches the first Financial mindfulness program in Romania
Monday, November 16, 2020
BCR launches the program „Financial mindfulness: how to improve your relationship with money. Financial education program in 21 steps”. Created in collaboration with psychotherapist Gáspár György and structured in 21 easy-to-follow steps, the program is the first of its kind in Romania. With the help of this program, those who go through it will understand how they can develop a more conscious and balanced financial ...
Immofinanz in talks to take over Bancorex office building in Bucharest
Monday, November 16, 2020
Austrian real estate investment fund Immofinanz is negotiating with Romanian lender BCR, part of the Austrian Erste Bank group, the acquisition of the Bucharest Financial Plaza office building, known as the "Bancorex" building in the center of Bucharest.Investment fund Revetas Capital is also among the bidders, and BCR still accepts offers. A deal could be announced in the first half of 2021 at an ...
Profit of 4.5 billion lei for the Romanian banking system in eight months from 2020
Monday, November 9, 2020
The Romanian banking system posted aggregated net profits worth nearly RON 4.5 billion (EUR 925 mln) in the first eight months of this year, Ziarul ...
Ministry of Finance continues Fidelis program of issuing government securities in lei and euro for the population
Monday, November 9, 2020
The Romanian Ministry of Public Finance returns to the capital market with three new issues of government bonds for the retail investors, following the success of the public sale offer (IPO) conducted in August. The new IPO in the Fidelis program will take place on the Bucharest Stock Exchange (BVB) between November 9th and 27th, when investors can subscribe government bonds in RON with a maturity of 1 and 3 years, and in EUR, with a maturity of 5 ...
XTB: opinions of several specialists regarding the “stars” of the stock markets at the end of 2020 and beginning of 2021
Monday, November 9, 2020
Online commerce, technology companies, cyber security companies, those active in the online field in general, gold, the pharmaceutical and medical sector, FMCG companies, supermarket chains and energy companies present the best opportunities of investments at the end of 2020 and beginning of 2021, according to the opinions formulated by seven of the most well-known specialists in capital markets in Romania. These are: Valentin Nedelcu, Mircea Iliescu, Dan Sulica, ...
OTP Bank Romania : Financial results for the first nine months of 2020
Monday, November 9, 2020
OTP Group has announced the financial results for the first three quarters of 2020. This year’s activity has been transformed and strongly influenced by the effects of the Covid-19 pandemic, and the banking industry is one of the first to respond to the support and financing of the local economy. OTP Bank records positive operating results, growth in the lending and saving areas, and a healthy profitability for the current ...
BRD Group: 738 million RON profit in first nine month, 39 pct decrease
Monday, November 9, 2020
The BRD Group obtained a net profit of 738 million RON in the first nine months, compared to 1.23 billion RON in the similar period of 2019, a 39 pct drop, according to the financial results of the bank remitted on Monday to the Bucharest Stock Exchange.According to the quoted source, the profit recorded by the bank was influenced by the net expense with provisions (in comparison with a net release of provisions in the similar period of last year), which ...
Romania counts for 18 mln cards, with transactions worth 70 bln euro
Monday, November 9, 2020
There are 18 million cards in Romania, i.e. at least one card for each active person, and 70 billion euro are traded through them, Catalin Cretu, Managing Director of Visa for Romania, Croatia, Malta and Slovenia, told a specialized conference on last Tuesday."In Romania, our card payment industry already has a very good penetration. There are over 18 million cards in Romania. By looking at the active population, to the more than 19 million inhabitants, ...
BCR reports 142 pct increase in 9-month net profit
Monday, November 9, 2020
BCR posted a 9-month net profit of 845.8 million lei, up by 142 percent compared to 348.8 million lei in the first nine months of 2019, the bank said in a release."BCR recorded a net profit of 845.8 million lei (175.2 million euros) in the first 9 months of 2020, compared to 348.8 million lei (73.6 million euros) in the year-ago period, due to a higher operating result and a significant advance in new loans, partially offset by higher risk costs. The net profit in ...
Moody’s defers updating Romania’s rating
Monday, November 2, 2020
International rating agency Moody's has deferred updating Romania's sovereign ratings, scheduled for October 23. Thus, Romania's ratings remain at the lower end of the range seen by investors as safe or low-risk - Baa3 - with a negative perspective. Moody's upgraded Romania to the investment-grade region in October 2006, amid the country's EU accession (2007), and has not downgraded it during the 2008-2009 recession. To reflect ...