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Financial & Banking

BestJobs bonds, worth over 3.3 million Euro, listed on Bucharest Stock Exchange

Monday, August 2, 2021

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 BestJobs, one of the most important online recruitment platform in Romania, has debuted on Wednesday, with its first bonds at the Bucharest Stock Exchange (BVB), the company informs.Worth over 3.3 million Euro, the bonds are being traded on the Multilateral Transactioning System of the company, under the symbol JOBS26E."At BestJobs we are constantly developing new technologies and solutions in recruitment for professional development. We ...

ASF calls for capital injections at major RO insurers City and Euroins

Monday, August 2, 2021

Romanian non-bank financial markets' regulator ASF claims that it has intensified the monitoring and control of the biggest insurers, Euroins and City Insurance, since 2020, and that risk management simulations show that the most appropriate solution for restoring their prudential indicators would be a capital ...

CEC Bank focuses on mortgage lending

Monday, August 2, 2021

Romanian state-owned CEC Bank reports “above target” net profit of RON 208 mln (EUR 42.4 mln) in H1, 13% higher compared to the same period last year. Its assets rose by 7.7% year-to-date to RON 44.4 bln (over EUR 9.0 bln).   This results in an annualized return on assets of 0.94%, which is smaller compared to the banking system’s ROA for the first ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 7 July 2021

Monday, July 26, 2021

The National Bank of Romania (BNR) Board members present at the meeting: Mugur Isarescu, Chairman of the Board and Governor of the National Bank of Romania; Florin Georgescu, Vice Chairman of the Board and First Deputy Governor of the ...

PM Citu: While Romania still owns capital in International Investment Bank, it needs to be represented

Monday, July 26, 2021

 Prime Minister Florin Citu said on last Wednesday that Romania needs to be represented at the International Investment Bank as long as it has invested capital there, adding, however, that the decision to add more money to this banking institution "is not a very good one.""When we have a strategy, and we are not the only ones, there is another country that is with Romania, we will come up with this strategy and unveil it to the public. At this moment, I do ...

BNR: Monetary indicators – June 2021

Monday, July 26, 2021

According to Central Bank (BNR) data, at end-June 2021, broad money (M3) amounted to RON 519,456.5 million, up 2.7 percent (2.4 percent in real terms) ...

EBRD sells its stake in Globalworth Real Estate Investments Ltd

Monday, July 26, 2021

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The European Bank for Reconstruction and Development (EBRD) has decided to sell its 5% stake in Globalworth, the biggest owner of office buildings in Romania. It will cash in around EUR 77.5 mln.   EBRD has accepted to sell its shares following the takeover bid carried out by Czech CPI Property Group and German company Aroundtown, which together owned 51.5% of Globalworth’s shares when they started ...

Mazars publishes its latest Central and Eastern European Tax Guide

Monday, July 26, 2021

Wage levels and labor costs vary significantly in the countries of the region Over the past year, the minimum monthly gross wage has increased in Romania by 3.14% Average wages in the private sector have increased in some countries, while in others they remained stagnant   Mazars, ...

Financial assets of public administration sector reach 23.5 pct of GDP end-Q1 2021

Monday, July 26, 2021

  The financial assets of the public administration sector increased by 1.1 percentage points in the first quarter of 2021, reaching 23.5% of GDP, according to data centralized by the National Bank of Romania (BNR).The public administration's deposits and cash increased by 1.1 percentage points in the first three months of this year, compared to the same period in 2020, and accounted for 4.6% of GDP. Stock holdings and other state participations ...

Study: The young people are very interested in online banking services but the interest of old people is high enough

Monday, July 26, 2021

A percentage of 85.3% of the young people aged between 18 and 35 state they are interested in the possibility to access  online banking services and products, while 60% of the people aged between 51 – 65 consider this aspect as very important, according to the results of a study commissioned by the Romanian Association of Banks (ARB).Similarly, approximately 71.7% of the men consider as very and important enough the possibility to access online ...

Nearly 19 million bank cards are issued in Romania till end of March 2021

Monday, July 26, 2021

The total number of bank cards issued in Romania was 18,925,692 units, at the end of the first quarter of 2021, increasing by 0.5 pct compared to the end of the previous quarter, according to data centralized by the National Bank of Romania (BNR).According to BNR, out of this total, 14,592,364 cards (77.1%) were active, compared to 14,579,234, at the end of last year.As many as 15,929,528 cards had a debit function and 2,881,354 a credit ...

BNR: Balance of payments and external debt – May 2021

Monday, July 19, 2021

According to Central bank’s (BNR) data, in January - May 2021p, the balance-of-payments current account posted a deficit of EUR 5,947 million, compared with EUR 3,207 million in the same year-ago period. The breakdown shows that the deficit on trade in goods widened by EUR ...

Commitment to Romania’s Post-pandemic Recovery, Reaffirmed by World Bank Vice President

Monday, July 19, 2021

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On her first official visit to Romania, Anna Bjerde, World Bank Vice President for Europe and Central Asia, acknowledged the country’s recent growth and its effective ...

COFACE Barometer Q2 2021: A two-speed world

Monday, July 19, 2021

18 months after the start of the pandemic, access to vaccination is now the main factor setting the pace of people's daily lives and the global economy. GDP growth forecasts for 2021 have been revised upwards (+5.6%), but this is mainly the result of positive surprises from the United States. These improved growth prospects are reflected in world trade: after a 5% decline in volume last year, Coface forecasts an 11% increase for ...

Impact Developer & Contractor offers one free share for every 2 shares held, within a capital increase operation

Monday, July 19, 2021

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 Impact Developer & Contractor issued 131,250,000 new shares and is offering its shareholders one free share for every two shares held. The company's share capital, registered in the Central Depository, was increased by 50%, to the value of 393,75 million lei. At the same time, the Impact stock (IMP stock symbol) splits in a ratio of 1:4, therefore the number of shares becomes ...

Cristian Popa : during these 15 months of pandemics, BNR did not exaggerate, did not keep interests at high levels 

Monday, July 19, 2021

The National Bank of Romania did not exaggerate with the interests, over the 15 months of pandemics, but it did not hurry into reduce the mat unsustainable levels, considers Cristian Popa, member in the Board of BNR, in an article on OpiniiBNR.ro.He considers that promptness was accompanied by caution and BNR did not fall in the trap of pressure for the reduction of interests and ‘ this proves to be a welcome aspect today, as inflation starts to ...

The Fidelis government bonds sold in July on the capital market by the Ministry of Finance debuted on Bucharest Stock Exchange

Monday, July 19, 2021

The Ministry of Finance (MFP) attracted RON 614.5mn and EUR 59mn through three issues of government securities for individual investors (FIDELIS) sold on the capital market. It is the fourth offer of government securities carried out by the Ministry of Finance on the stock exchange in almost an year.   Through the four offers carried out in 2020 and 2021, the Ministry of Finance attracted from individual ...

Alro borrows EUR 32 mln working capital from EximBank

Monday, July 19, 2021

Alro Slatina, the only producer of aluminium and aluminium alloys in Romania and one of the largest vertically integrated aluminium producers in Europe, according to production capacity, has contracted a RON 167 mln (EUR 32 mln) financing facility from state-owned EximBank.   The funds will be used as working capital and were granted with a state guarantee issued within the Covid-19 state aid scheme, ...

Bank Recovery and Resolution: Commission calls on 9 Member States to communicate national measures transposing EU rules on loss-absorbing and recapitalisation capacity

Monday, July 19, 2021

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The Commission decided to address reasoned opinions to Belgium, Czechia, Italy, Lithuania, Latvia, the Netherlands, Poland, Portugal and Romania for failing to transpose the revised EU rules on bank recovery and resolution into their national law (Directive (EU) ...

Bitdefender: Romanian hackers' group mining cryptocurrencies using worldwide victims' devices

Monday, July 19, 2021

Bitdefender researchers have discovered a group of Romanian cyber attackers who remotely infect computers and servers across the globe, from where they then illegally mine cryptocurrencies, according to a company statement sent on last Wednesday.The cryptocurrency mining process is time-consuming and requires expensive computer systems with high processing power, which is why cyber attackers avoid using their own devices and try to take control of such systems ...

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