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Financial & Banking

Over 1 million transactions performed through BVB in the first 8 months and over 100000 investors

Monday, September 26, 2022

Over 1 million transactions were carried out through the Bucharest Stock Exchange (BVB) in the first 8 months of this year, almost 42% more than in the same period last year. More than 117,000 investors are present on the Romanian stock market, according to the FCI data at the end of the first ...

Popa (BNR): The inflationary shock comes from the shock of energy markets

Monday, September 19, 2022

The inflationary shock comes from the shock of the energy markets, and monetary policy is not the answer to any problem of society, says Cristian Popa, Member of the Board of Directors of the national Bank of Romania (BNR).   “The backdrop of overly stimulating monetary and fiscal policies in the pandemic, on which this shock arose, along with problems in supply chains and war, certainly favored the ...

EBRD lends €50 million to UniCredit Bank Romania to support Romanian business

Monday, September 19, 2022

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EBRD lends €50 million in Romanian lei to UniCredit Bank Romania Loan will help bank further increase on-lending to businesses impacted by war on Ukraine EBRD has pledged €2 billion to support companies and countries affected by the ...

Banca Transilvania plans EUR 1 bln bond issues over the next ten years

Monday, September 19, 2022

The Managing Board of Banca Transilvania (BVB: TLV) invited shareholders on October 18 to approve a programme of bond issues, with “a flexible structure, through several separate issues,” worth a total of EUR 1 bln, to be carried out over the next ten-year period.   The individual issues would be denominated in euros, local currency (RON) or another currency, as the case may be, under market ...

CEC Bank lends 30 mln lei to agri group Rodbun

Monday, September 19, 2022

Romanian savings bank CEC said it is lending 30 million lei ($6.1 million/6.09 million euro) to local agricultural group Rodbun.   The loan comes as part of a partnership between the state-controlled CEC Bank and Rodbun, the bank said in a press release on Wednesday.   The company received an extra 278 million lei in 2021 through a syndicated loan, of which CEC was a ...

BRD Asset Management launches first target-date funds in Romania

Monday, September 19, 2022

The BRD Asset Management portfolio was expanded, starting in July, with four new open investment funds, respectively BRD Horizon 2035, BRD Horizon 2045, BRD Oportunit??i and BRD Euro Simplu. The former two funds have a limited lifetime, a novelty on the Romanian market.   BRD Orizont 2035 and BRD Orizont 2045 are the first Target Date Funds (TDF) or Funds with a Pre-established Time Horizon ...

Moldova's largest bank MAIB may list its shares on Romania's exchange

Monday, September 19, 2022

Talks have started with the Moldovan authorities so that Moldova Agroindbank (MAIB), the largest bank in the country by assets, to have its shares listed on the Bucharest Stock Exchange (BVB), announced Nicu Marcu, president of the Romanian financial supervisory authority (ASF), the regulator of the capital market.   "Steps are being taken to list the largest bank in the Republic of Moldova. There are ...

Development Bank of Romania to start activity after getting authorisations from EC, national bank 

Monday, September 19, 2022

  The Development Bank of Romania (BDR) will be able to start its activity after the European Commission will issue an authorization decision in the matter of state aid and after obtaining the operating authorization issued by the National Bank of Romania, a draft Government Decision published Tuesday by the Ministry of Finance reads.The initial share capital of the bank subscribed by the shareholder, through the Ministry of Finance, is up to 3 ...

Romania could help Moldova's capital market development, Bucharest stocks' head says

Monday, September 19, 2022

We have learned some things here in Romania, we have developed systems that can help the development of the capital market in the Republic of Moldova, said on Tuesday, at a specialized forum, the president of the Bucharest Stock Exchange (BVB), Radu Hanga.He believes that every market needs a ladder to help local companies grow."Companies are not born big. Of course, we have particularities here in the region, because we went through a regime ...

Assets of mandatory private pension funds worth 90.47 billion RON in July, up 3 pct

Monday, September 19, 2022

Mandatory private pension funds had assets worth 90.47 billion RON at the end of July 2022, up 3 pct compared to the level recorded on July 31, 2021, according to the data of the Financial Supervisory Authority (ASF)."Investments of privately managed pension funds were aimed at Romanian assets in a percentage of 88 pct, most of them being denominated in RON. A large part of the Romanian instruments are represented by state securities or shares listed on the BVB ...

Optional pension funds' assets up in July, to 3.41 billion RON

Monday, September 19, 2022

The assets of the optional pension funds (Pillar III) were worth 3.41 billion RON at the end of July 2022, up by 5% compared to the level recorded at the same date of the previous year, according to a report of the Financial Supervisory Authority (FSA)."Most of the investments were made locally (93%), most of them being denominated in RON (91%)," the report said.Government securities held the largest share in assets, amounting to 2.102 billion RON, ...

National Agency for Fiscal Administration reports increasing revenues by 12.5% in first 8 months

Monday, September 12, 2022

The National Agency for Fiscal Administration obtained revenues of 246.2 billion RON in the first 8 months, an increase of 22.4% nominal index compared to the same period of the previous year, announced on Friday the president of the ANAF, Lucian Ovidiu Heius, during a press conference."ANAF's activity in the first 8 months of the year led to the collection of budget revenues worth 246.2 billion RON, respectively an increase of 22.4% nominal index, ...

EBRD provides EUR 100 M financing to Kaufland

Monday, September 12, 2022

EBRD granted a EUR 100 million loan to the German group Schwarz for the financing of the expansion of Kaufland operations in Romania and Moldova. The RTPR team provided legal assistance on this project.   “We are happy that we have once again advised EBRD on a new financing, this time in relation to a development project that will contribute to the ...

BCR to allow cash withdrawals in euro at its ATMs in Romania

Monday, September 12, 2022

Banca Comercial? Român? (BCR), Romania’s second-largest bank, will allow its customers to make withdrawals in euros at its ATMs in Romania.   The new function will be available starting this month, and roughly 100 ATMs in Bucharest and other large cities will allow euro withdrawals in the initial phase. The service will extend to over 300 ATMs by the end of the year, according to the press ...

IFC invests 42M US dollars in first sustainability bond in Romania

Monday, September 12, 2022

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Romania's first sustainability bond will help promote both financing in the field of climate change and that in the social field, with IFC investing the equivalent of 42 million US dollars in order to strengthen the financial sector and to promote financial inclusion in the country, informs a press release of the financial institution.Senior non-guaranteed sustainability bonds, in local currency, issued by Raiffeisen Bank S.A. (RBRO) from Romania, will help ...

Romanians withdraw less money from mutual funds in July

Monday, September 12, 2022

The investors withdrew RON 510 mln (EUR 105 mln) from local open investment funds in July, visibly less compared to previous months, according to data from the Association of Fund Administrators (AAF).   The fund's aggregated net assets were RON 10.7 bln (roughly EUR 2 bln) at the end of the month.   The largest outflows were in the segment of fixed-income (bond) funds ...

Uniqua’s Romanian subsidiary may acquire small-sized player Garanta

Monday, September 12, 2022

Uniqa Asigurari, the subsidiary of Austrian insurance group Uniqa, is reportedly in talks to take over Garanta Asigurari - another small-sized player controlled by Swiss-Greek businessman Jean Valvis and Posta Romana, according ...

Polish Inovo VC fund earmarks EUR 10-20 mln to Romanian startups

Monday, September 12, 2022

Inovo VC, a manager of venture capital funds from Poland, plans to invest about 10-20% of its third fund, seen at EUR 100 mln, in Romanian technology startups, according to Ziarul ...

Nuclearelectrica benefits from the Issuer Market Maker services provided by Wood Company

Monday, September 12, 2022

Societatea Nationala Nuclearelectrica (SNN), the sole producer of nuclear power and nuclear fuel using CANDU 6 type technology in Romania, company listed on the Bucharest Stock Exchange (BVB) since 2013, will benefit from September 7 from the issuer's market-making services provided ...

BNR: International reserves – August 2022

Monday, September 5, 2022

On 31 August 2022, the BNR’s (National Bank of Romania ) foreign exchange reserves stood at EUR 42,851 million, compared to EUR 42,768 million on 31 July 2022.   During the month, the following flows were recorded: EUR 2,878 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with ...

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