Loading page...

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

Subscribe|Login

Financial & Banking

BNR: International reserves – June 2020

Monday, July 6, 2020

On 30 June 2020, the National Bank of Romania’s foreign exchange reserves stood at EUR 35,002 million, compared to EUR 35,646 million on 31 May 2020. During the month, the following flows were recorded: EUR 3,600 million worth of inflows representing changes in credit institutions’ foreign currency-denominated required reserves, inflows into the Ministry of Public Finance’s accounts, inflows into ...

Amcham: Romania risks to be placed on the list of downgrade of the capital market in 2021 by FTSE Russell

Monday, July 6, 2020

The Romanian capital market risks to be placed on the list of downgrade by FTSE Russell în September 2021 in case no state-run company is listed on the BVB until the summer of 2021, stated on Monday the representative of the Romanian-American Chamber of Commerce (AmCham) Cristian Agalopol in a plenary meeting of the Coalition for the Development of Romania (CDR).He presented the results of the working group for the capital market with CDR, the biggest ...

ARIR: The capital market is a great opportunity for the economic recovery of Romania

Monday, July 6, 2020

20070609195116528122_abstract_word_cloud_for_capital_market_with_related_tags_and_terms.jpg

The Romanian Investor Relations Association (ARIR) organized the third edition of the event “Market Sentiment”. What is the current economic context and what are the perspectives of this year are two of the topics debated by Daniela Serban, ARIR President ...

Romania's active mandatory home insurance policies up 1.99 pct this May

Monday, July 6, 2020

The number of active mandatory home insurance policies was 1.99 percent up this May from the year-ago period, at roughly 1.74 million, compared to 1.70 million as of May 31, 2019, according to statistical data of the Natural Disaster Insurance Pool (PAID), the company that provides this type of insurance. There were 1.73 million active policies as of December 31, 2019.According to PAID, home insurance policies taken out in urban areas accounted for 74.7 percent of ...

Alpha Bank Romania launches Alpha PhonePOS, an application that turns mobile phones into POS

Monday, July 6, 2020

Alpha Bank is the first bank in Romania to launch an application that turns your mobile phone into a POS. The solution is compatible with Android mobile devices and responds to the growing trend of digitization. Alpha Bank Romania recognizes the essential role that entrepreneurs and freelancers have in the development of the local economy, their support being one of the fundamental objectives of the bank. By launching the application, the banking ...

Raiffeisen Bank approved 1,000 loans worth a combined 500 ml lei under IMM Invest program

Monday, July 6, 2020

200706092126raiffeisen_bank_afi_cotroceni.jpg

Raiffeisen Bank approved 1,000 loans worth a combined 500 million lei under the IMM Invest program for small and medium-sized businesses, the lender announced on Thursday, adding that it received more than 5,000 applications."The IMM Invest program means a lot of collective effort and commitment from all those involved: customers, the lending team, but the authorities as well. We learned together as applications were being initiated, assessed and promoted, and ...

GFG Alliance boosts small-sized bank it took over in Romania

Monday, July 6, 2020

The Romanian small-sized lender Credit and Investment Bank (BRCI) announced that it wants to return to the retail market by opening ten branches in major cities in the country in the near future, with the first one in ...

Clearstream adds Romanian equities to its network

Monday, July 6, 2020

Deutsche Börse’s Clearstream started providing easier access to the Romanian capital markets for the international investors by adding a new domestic link to enable settlement and safekeeping of Romanian equities as of July 1. The international central securities depository (ICSD) connected the Romanian central securities depository (CSD) Depozitarul Central to its network on July 1. The platform was already offering access to Romanian ...

Insurer Certasig goes bankrupt

Monday, July 6, 2020

Romanian small-sized insurer CertAsig went bankrupt at the request of the Financial Supervisory Authority (ASF). Its market share was under 1% in 2018. The authority filed the request as the company did not restore the level of eligible equity covering the minimum capital requirement (MCR) within the deadline provisioned by law. CertAsig needed a capital infusion of between EUR 5.5-6 million, of which about EUR 2 million to meet the minimum capital ...

Online payments by Visa cards, up over 50pct in April

Monday, July 6, 2020

Online payments by Visa cards increased by more than 50pct in April 2020 compared to the same period of last year, given that the e-commerce sector in Romania registered a strong boom after the outbreak of the COVID-19 pandemic, according to a company's release.According to the quoted source, this period accelerated the transition to the digital environment, with many companies being forced to operate online to keep their business afloat, and security measures ...

Romanian subsidiary of Bulgarian insurer faces new insolvency claims

Monday, July 6, 2020

A group of car repair shops operated by major car importers in Romania asked in court the insolvency of Euroins Romania, the local subsidiary of the Bulgarian insurer Euroins, according ...

Banca Transilvania, Romanian largest bank by assets

Monday, July 6, 2020

Banca Transilvania maintained its leading position in the ranking of Romanian banks by assets at the end of 2019. It's total assets reached RON 87.7 billion (EUR 18.35 bln) at the end of 2019 while its market share went up to 17.7% from 16.5% one year earlier. The banks on the 2nd and 3rd places, BCR owned by Erste Group and BRD part of Societe Generale group, lost market share to 14.4% (-0.6pp) and 11.3% (-0.7pp) ...

Govt. extends fiscal facilities for companies

Monday, July 6, 2020

Companies in Romania will be allowed to defer paying their taxes until October 25 without incurring additional penalties, according to an emergency ordinance (OUG) approved by the Government on June ...

BNR 2019 Report: Market share of banks with majority of privately-owned domestic capital up to 18.2 pct

Monday, June 29, 2020

The market share - in terms of net assets - of credit institutions with a majority of privately-owned domestic capital increased from 16.9 percent as of December 31, 2018 to 18.2 percent as of December 31, 2019, shows the 2019 Report of the National Bank of Romania (BNR). Concomitantly, the market share of credit institutions with a majority of foreign capital (the branches of foreign credit institutions excluded) dipped from 63.6 to 61.4 percent, the report ...

BNR survey:Roughly 49 pct of Romania's banks expect lending standards to tighten for all loan types

Monday, June 29, 2020

A considerable proportion of Romania's banks expect lending standards to tighten for all types of loans, with consumer loans and short-term loans to SMEs being the most affected, reveals a survey conducted by the National Bank of Romania (BNR) on lending to non-financial companies and to households."Against the background of the COVID-19 pandemic that gripped Romania starting March 2020, the credit market has gone through substantial changes in 2020 Q1. ...

UNSAR-IRES barometer: Number of Romanians who buy insurance policies online doubles in 2020

Monday, June 29, 2020

The share of Romanians who prefer to buy insurance policies online by using the computer or the mobile phone doubled in 2020, from 6 per cent in 2019 to 12 per cent, show the results of a barometer by UNSAR-IRES regarding the "Perception of risk and the insurance culture in Romania," published on Thursday.According to the centralized data, 1 of 5 Romanians (approx. 18 per cent) prefer online services when buying insurance policies or manage them, while the share ...

Bucharest Stock Exchange becomes benchmark administrator as per the EU's Benchmarks Regulation

Monday, June 29, 2020

The Bucharest Stock Exchange (BVB) becomes a benchmark administrator following its registration as such by the Financial Supervisory Authority (ASF), according to the new European relevant Benchmarks Regulation (BMR), BVB said in a release on Wednesday.This new license is a reflection of the high standards, quality and integrity applied by BVB in developing and calculating benchmark indices."The license granted by ASF to the Bucharest Stock Exchange as ...

NNPensii sold its Wirecard stake before fraud scandal broke

Monday, June 29, 2020

NN Pensii, the biggest private pension fund manager in Romania, says it respected all legal requirements when it decided to invest in the financial technology company Wirecard, now at the center of the biggest fraud scandal in Germany. The pension funds managed by NN didn't hold any more Wirecard shares in their portfolios at the beginning of May and were not affected by the recent fraud scandal that sent the Wirecard share price down over 80%, according to the ...

EBRD lending 10 mln euro to Romania's Agricover

Monday, June 29, 2020

The European Bank for Reconstruction and Development (EBRD) said on Friday that it has approved a project envisaging the provision of a senior loan of up to 10 million euro ($11.2 million) to Romanian distributor of agricultural technologies Agricover. The funds will enable Agricover to continue its growth strategy and finance potentially higher working capital needs triggered by the Covid-19 crisis, the EBRD said in a document posted on its ...

Liberal Govt. revives predecessors’ plans for Sovereign Fund

Monday, June 29, 2020

200629104824fond_suveran_300x180.png

The Government's decision to launch a Sovereign Fund might be published in the Official Journal within three weeks, announced Sebastian Bodu, an adviser to the prime minister's office. It is going to be an investment fund and not a development fund, he stressed, quoted by Agerpres. The fund will be set up based on the Government Ordinance 100/2019 adopted last year by the Social Democrat Government. Therefore, the fund's name will include both ...

Premium News

Daily

Wednesday, September 23, 2020

Financial & Banking

Monday, September 21, 2020

Economic

Tuesday, September 22, 2020

Companies

Wednesday, September 23, 2020

Energy & Environment

Thursday, September 17, 2020