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Financial & Banking

Franklin Templeton believes that it is in the best position to continue as Fund Manager of Fondul Proprietatea and generate returns for all shareholders

Monday, September 18, 2023

  Franklin Templeton International Services S.À R.L. (“FTIS”), in its capacity of alternative investment fund manager and sole director of Fondul Proprietatea ...

FinMin Bolos, about reconfirmation of ratingby Fitch: Strong signal that Romania is on the right track

Monday, September 11, 2023

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 Fitch's decision to reconfirm Romania's sovereign rating and maintain the stable outlook is a strong signal that the country is on the right track and that we are viewed with confidence by investors and international partners, the Minister of Finance, Marcel Bolos wrote on his Facebook account on Saturday."Excellent news from Fitch Ratings: They have reconfirmed our stable outlook and country rating. The announcement comes as a recognition of our ...

The Competition Council Is Investigating A Possible Bank Cartel For Setting Loan Interest Rates

Monday, September 11, 2023

The representatives of the Competition Council carried out unannounced inspections at the headquarters of several commercial banks on Tuesday, suspecting that the financial institutions colluded with each other to set loan interest rates, official sources told Hotnews.   Also according to Profit.ro, the inspectors of the Competition Council descended, on Tuesday, on the offices of the commercial banks in ...

Tarfin aims to support Romanian agribusiness in the autumn season with a total financing amount of €10 million

Monday, September 11, 2023

Tarfin, the regional agri-fintech specializing in providing advanced and diverse solutions for the agricultural sector through its digital platform, announces strengthening its position in the local market. The company has enrolled over 200 retailers on its online platform in ...

The economic dynamics of the last quarter of a century in Romania and the current need to re-balance public finances

Monday, September 11, 2023

By Leonardo Badea, Deputy Governor BNR     Economic developments in the last quarter of a century have been influenced by three characteristics, which, in my opinion, have been decisive: uncertainty, the need to reform systems, and the (global) growth of public debt. It is true that during this period the world economy faced a ...

Euroins Bankruptcy: CITR Analysis, Preliminary Results

Monday, September 11, 2023

CITR has completed the first stage in the management of the Euroins bankruptcy. In the approximately 3 months after its designation as the court-appointed liquidator of Euroins, the CITR team analyzed over 1,100 receivable statements which involved studying more than 350,000 documents, in order to draft the list of creditors. At the same time, the CITR team carried out an inventory of assets and initiated public tender procedures. The money was used to cover salary ...

SIGNAL IDUNA ASIGURARE REASIGURARE S.A. completed the merger of SIGNAL IDUNA ASIGURARI DE VIATA S.A.

Monday, September 11, 2023

SIGNAL IDUNA ASIGURARE REASIGURARE S.A. announces the completion of the merger by absorption of the company SIGNAL IDUNA ASIGURARI DE VIATA S.A. The Financial Supervisory Authority (ASF) published the ...

Central Bank :International reserves – August 2023

Monday, September 4, 2023

On 31 August 2023, the National Bank of Romania’s foreign exchange reserves stood at EUR 53,901 million, compared to EUR 53,936 million on 31 July 2023. During the month, the following flows were recorded:   EUR 1,932 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with the ...

Victoria Zinchuk is the new director of the EBRD for Romania

Monday, September 4, 2023

EBRD appoints Victoria Zinchuk as new Director for Romania  Ms Zinchuk last served as EBRD Regional Director for Central Europe from Zagreb  Total EBRD investments in Romania above €10 ...

Fondul Proprietatea announces 680 million RON in loss in H1

Monday, September 4, 2023

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Fondul Proprietatea ended the first half of this year with a loss of 680 million RON, compared to a profit of 4.1 billion RON in the first half of 2022, according to a company report."The decrease in the fair value was mainly generated by the reduction in the value of the participation in Hidroelectrica SA (1.87 billion RON), while an increase in the fair value was recorded for the following participations: CN Aeroporturi Bucuresti (115.1 million RON), Engie ...

NN clients benefited from 444 million lei from insurance and private pensions in H1 2023

Monday, September 4, 2023

NN paid its insurance clients and private pension fund participants total benefits of 444 million lei in the first half of 2023, up by 24% compared to the same period of last year. NN has thus continued to provide real financial support to clients in unforeseen situations they faced, as well as additional income at retirement, and closed the first half of the year with a strong financial position and positive evolutions across all business ...

Survey: One In Two Romanians Cannot Afford To Save Because Of Inflation

Monday, September 4, 2023

One in five Romanians is spending carefully, hunting for deals, and keeping track of their income and expenditure on a regular basis, in order to enjoy financial stability, according to a recent survey conducted by Ipsos for ING Bank. At the same time, 48% of Romanians can no longer afford to save because of inflation, and only 11% set aside ...

CEC Bank Offers Loans for Farmers “5 Times APIA”

Monday, September 4, 2023

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CEC Bank, in partnership with the Rural Credit Guarantee Fund, is launching financing based on APIA subsidies for 5 years, which can now be accessed by farmers in the livestock sector as well. This allows farmers to obtain up to 4.5 times the annual APIA subsidy for cultivating land and raising animals, based on the APIA certificate for the first year and with the guarantee of the Rural Credit Guarantee Fund ...

Tarfin aims to support Romanian agribusiness with a total financing amount of €10 million

Monday, September 4, 2023

  Tarfin, the regional agri-fintech specializing in providing advanced and diverse solutions for the agricultural sector through its digital platform, announces strengthening its position in the local market. The company has enrolled over 200 retailers on its online platform in its ...

Banca Transilvania Group achieves 1.581 billion RON net profit in H1 2023

Monday, August 28, 2023

The Banca Transilvania Financial Group achieved a consolidated net profit of 1.581 billion RON in the first half of this year, up 51.14% compared to June 2022, of which the bank's is 1.269 billion RON, higher by 39, 91%, according to a statement from the group.Subsidiaries and equity participations contributed over 312.7 million lei to BT Group's profitability, up 124% compared to June 2022.According to the source, 132,000 loans were granted to ...

Alpha Bank Romania buys Orange Money Romania retail operations

Monday, August 28, 2023

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 Alpha Bank Romania signed a business transfer contract with Orange Money Romania, which refers to the takeover of retail activities and includes the client portfolio, top digital assets (mobile application), credit card portfolio and employees, according to Sergiu Oprescu, executive president of Alpha Bank Romania and general director of the Alpha Bank Group International Network.Through this acquisition, Alpha Bank Romania continues its strategy of ...

Bank deposits of companies, population in July v June down 0.6 pct

Monday, August 28, 2023

 Bank deposits of companies and the population decreased, in July, by 0.6 pct compared to the previous month, to the level of 529.94 billion RON, and compared to the same period of the previous year, they increased by 9.2 pct (-0.2 pct in real terms), informs the National Bank of Romania in a press release.Deposits in RON of residents, with a weight of 67.6 pct in the total deposits of non-governmental clients, decreased by 1 pct compared to June 2023, ...

Balance of non-government loan up 0.8 pct in July

Monday, August 28, 2023

  The balance of non-government loan granted by credit institutions increased in July 2023 by 0.8 pct compared to June 2023 (0.6 pct in real terms), up to RON 378.27 billion, according to data published on Thursday by the National Bank of Romania.The credit in RON, with a share of 68.2 pct in the total volume of non-government loan, increased by 1.2 pct, while the foreign currency credit expressed in RON with a share of 31.8 pct in the total ...

EY Romania: Yields expected by investors show fluctuating trends

Monday, August 28, 2023

Most of the analyzed industries continue to register a decrease in the cost of capital, a trend observed since the second part of 2021. However, there are also different developments in the case of certain sectors, according to the sectoral analysis of EY Romania.   At the end of the first half of 2023, the Telecommunications and Information Technology sectors were once again recording the lowest yields, while the ...

Libra Internet Bank profit in the first half of 2023

Monday, August 28, 2023

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Libra Internet Bank logged a net profit of 160.7 million RON in the first half of 2023, up 45.9 pct compared to the same period in 2022, the bank announced.Total net assets reached 10.3 billion RON after the first six months of this year, a value 6 pct higher than at the end of 2022.The net loan portfolio of Libra Internet Bank increased by 7.5 pct in the first semester of 2023 and reached the level of 6.4 billion RON.Regarding the ...

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