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Financial & Banking

2020-2023 bank loans to population & companies in Romania reach RON 461 billion

Monday, March 18, 2024

Last year, Romanian banks granted new loans to the population and companies in the amount of 140 billion lei, an increase of 10.41% compared to the volume of new loans accessed in 2022. The volume of new loans accessed by the population and companies, last year, represents the equivalent of 36% of the balance of non-governmental credit related to December 2023.   The balance of non-governmental ...

Adobe, Hidroelectrica and One United Properties shares dominate portfolios of investimental clients

Monday, March 18, 2024

The clients of Investimental, the newest broker on the Romanian capital market, showcase diversified investment preferences throughout their portfolios. As of July 2023 until the end of February 2024, Investimental clients have shown a strong preference for a mix of high-growth US tech stocks and stable, high-yield Romanian companies and government bonds.   “Since the launch, we have observed a ...

BVB to mark BET Patria-TradeVille exceeding RON 200 million in assets

Monday, March 18, 2024

  The Bucharest Stock Exchange (BVB) and Patria Asset Management is holding today a Ring the Bell edition to mark ETF BET Patria - TradeVille exceeding RON 200 mn in assets.With over 18,000 investors, ETF BET Patria - TradeVille, the first Exchange Traded Fund in Romania, generated a return of over 33% in 2023 alone.The event that will take place at the CCIB Business Centre Palace will be attended by Adrian Tanase - BVB CEO; Horia ...

WB: Liviu Voinea, Alternate Executive Director

Monday, March 18, 2024

Liviu Voinea, Ph.D., a Romanian national, has been Alternate Executive Director at the World Bank since March 1, 2024, https://www.worldbank.org/ informs. Prior to this, he was Senior Advisor for Romania to the Executive Director at the International Monetary Fund from August 2019 – August ...

C-suite optimistic for a year of transformation, but say more regulation and ethical considerations needed

Monday, March 18, 2024

Mazars, the international audit, tax and advisory firm, released its latest C-suite barometer: outlook 2024. Optimism and confidence ...

Marius Cara is the new representative of the EIB Group in Romania

Monday, March 18, 2024

The European Investment Bank (ElB) Group is announcing that Marius Cara will succeed Lara Tassan Zanin as resident ...

Alpha Bank Romania reports its net profit rose by 15%in 2023

Monday, March 18, 2024

Alpha Bank Romania, which is in the process of being taken over by Unicredit Romania to form the third-largest bank in the country, announced that its net profit rose by 15% y/y to nearly EUR 38mn in 2023.    The bank's total assets exceeded EUR 4.7bn at the end of 2023, 11% more compared to one year earlier.    At the end of last ...

EIB reports record financing for Romanian economy

Monday, March 11, 2024

The President of the European Investment Bank (EIB) Group Nadia Calviño met Romania’s political leadership today to discuss priorities for future financing, and growth-enhancing investment goals. Romania was among the top beneficiaries of EIB Group support in 2023 relative to the size of its economy. New financing committed last year reached a record high of €4.1 billion, which corresponds to around 1.3% of Romania’s gross domestic ...

ASF:Retail is the growth area with the best potential for Bucharest Stock Exchange

Monday, March 11, 2024

 Retail is the growth area with the best potential for the Bucharest Stock Exchange (BVB), said on Friday Chairman of the Financial Oversight Authority (ASF) Alexandru Petrescu at the initial float of Fidelis bonds on BVB."I feel a special affinity for BVB, and I am very happy to be with you. Even more so, Fidelis, is a government bond issue that I follow. I was involved at one point. It is the first edition of this year, out of a long 15 (...) ...

OTP Bank Romania posts net profit of 262 million RON in 2023

Monday, March 11, 2024

OTP Bank Romania recorded a consolidated net profit of 262 million RON in 2023, seven times higher than the amount of 2022.   Operating profit in 2023 reached RON 270 million, up 25 percent higher than in 2022, as a result of a 13 percent increase in total income, while net interest income grew by 4 percent y-o-y, and net fees and commissions increased by 8 percent, following an increase in card ...

Groupama, the leader of the insurance market in Romania, chooses SAP for digital transformation

Monday, March 11, 2024

Groupama, the insurance market leader in Romania, with a presence on the local market since 2009, has chosen SAP for its digital transformation and to improve the overall experience of its team. Groupama focuses on building partnerships based on trust, with the aim of helping customers enjoy every moment, wherever they are, knowing they have a partner they can count on.   Along with the focus on customers and partners, ...

Credit Europe Bank Romania To Be Absorbed By Parent

Monday, March 11, 2024

Credit Europe Bank Romania will be absorbed into the Dutch bank that holds the majority stake.   Credit Europe Bank (Romania) S.A. will be the absorbed company in the cross-border merger by absorption by Credit Europe Bank N.V., the absorbing company. Credit Europe Bank N.V. (CEB N.V.) is based in the Netherlands and is the majority shareholder of Credit Europe Romania, with 99.36% of the ...

This year first Fidelis government bonds debuted on the Bucharest Stock Exchange

Monday, March 11, 2024

The Ministry of Finance (MF) attracted RON 844mn and EUR 190mn through five issues of government bonds for retail investors (Fidelis), within the first offer held this year on the capital market. Blood donors bought Fidelis government bonds worth over RON 135mn, at an interest rate of 7% p.a. Through the 15 offers held since ...

Exhibition în Brussels: “The gold Treasure of the National Bank of Romania sent to Moscow and never returned – A claim older than a century”

Monday, March 11, 2024

On 5 March, the exhibition “The gold Treasure of the National Bank of Romania sent to Moscow and never returned – A claim older than a century” was opened at the European Parliament in Brussels. The exhibition runs for three days, showcasing written documents, historical and legal evidence as well as the commitments of the Russian and Romanian authorities concerning the 91.5 tonnes of fine gold sent to ...

Banca Transilvania Group posts 20 pct increase in net consolidated profit in 2023

Monday, March 4, 2024

  Banca Transilvania Financial Group's net consolidated profit increased by 20% in 2023 compared to the previous year, to RON 2.98 billion, of which the bank's profit of RON 2.49 billion was 14% higher than in 2022, reads a BT press release.The bank's operating profit rose to RON 3.50 billion, up 29.8% from 2022.BT Financial Group's assets reached RON 169.2 billion at the end of last year. Loans grew to RON 75.6 billion while ...

BCR Group closes 2023 on net profit up 33pct

Monday, March 4, 2024

Banca Comerciala Romana BCR Group has reported a net profit of RON 2,321 million (EUR 469 million) in 2023, up 33% from RON 1,746 million (EUR 354 million) in 2022, driven by improved operating result underpinned by advance in customer business, according to a press statement released on Thursday by the groupOperating result improved by 17.2% to RON 3,206 million (EUR 648 million) in 2023 from RON 2,735 million (EUR 555 million) in 2022, on higher operating ...

Credit Europe Bank Romania implements the contactless functionality across its entire ATM network

Monday, March 4, 2024

Credit Europe Bank continues the integration of digital banking solutions by introducing the contactless function throughout its ATMs. With this feature, Credit Europe Bank customers can perform transactions at ATMs with a simple tap of their card, phone, watch or other smart device equipped with NFC technology over the reader, regardless of the issuing bank of the card. This option is ideal for quick payments and cash withdrawals and is a fast and convenient way for ...

BCR Launches BCR Romania PMI® Index

Monday, March 4, 2024

Banca Comerciala Romana (BCR), in collaboration with the National Council of Small and Medium-Sized Private Enterprises in Romania (CNIPMMR), announces the launch of the BCR Romania Purchasing Managers’ Index™ (PMI®), an essential indicator in determining the health of the economy. This initiative, under the global methodology provided by S&P Global, marks a significant milestone in providing accurate, timely insights into the Romanian manufacturing ...

IFC Helps Boost Access to Green Logistics Infrastructure in Bulgaria and Romania

Monday, March 4, 2024

IFC is investing up to €150 million in a Bulgaria-based commercial property investment company to support its expansion into green warehousing in Bulgaria and Romania—boosting access to prime logistics infrastructure in both countries and supporting Europe's green transition.    IFC's financing package to Lion's Head Investments comprises a senior loan of €45 million, €65 million ...

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