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Financial & Banking
Minutes of the monetary policy meeting of the National Bank of Romania Board on 7 August 2023
Monday, August 21, 2023
Publishing date: 18 August 2023 The National Bank of Romania Board members present at the meeting: Mugur Isarescu, Chairman of the Board and Governor of the National Bank of Romania; ...
Ten new BVB listed companies enter MSCI indices
Monday, August 21, 2023
The shares of other ten companies listed on the Bucharest Stock Exchange (BVB) will be included in MSCI Frontier IMI and MSCI Romania IMI indices in the Small Cap category. At the same time, six companies already included in the MSCI indices will be upgraded from Small Cap to Mid Cap/ Large Cap and will be part of the MSCI Frontier and MSCI Romania indices, thus doubling the number of Romanian companies included in these ...
PayPoint Romania marks 15 years since launching the Bill Payment Service locally
Monday, August 21, 2023
PayPoint Romania is celebrating 15 years since the official launch of the bill payment service on the Romanian market and registering the first bill paid on the terminal. 15 years later, the portfolio of partners has over 250 suppliers, the network of payment points counts approximately 20,000 stores, and the volume of bill payment transactions recorded since the introduction of the service on the market ...
Study: How Prepared Are Romanian Companies for Generalized Electronic Invoicing?
Monday, August 21, 2023
The RO e-Invoice system could become mandatory on a widespread level, starting as early as January 1, 2024, for all types of transactions between firms established in Romania. In late July 2023, the Council of the European Union granted Romania the derogation to apply special measures for the adoption of mandatory electronic invoicing, a decision applicable for the period from January 1, 2024, to December 31, ...
Almost 1000 retailers on the platform have chosen the tbi bank payment solution in the last two years
Monday, August 21, 2023
The economic context of the last two years has been supportive of constructive partnerships between tbi bank and major players, which have brought significant benefits to both retailers and consumers in a volatile economic context. In the last two years, almost 1000 retailers on the Gomag platform have chosen the tbi bank payment solution, more than 30,000 orders have been registered through the Buy Now Pay Later (BNPL) instrument, and the value of the ...
BNR Board decisions on monetary policy
Monday, August 14, 2023
In its meeting of 7 August 2023, the Board of the National Bank of Romania (BNR) decided: to keep the monetary policy rate at 7.00 percent per annum; to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum; to ...
Inflation goes down below 10pc for the first time this year
Monday, August 14, 2023
The annual rate of inflation decreased in July 2023 to 9.4%, from 10.3% in June, amid food goods price hikes by 16.24%, non-food goods by 4.25%, and services by 11.65%, according to the data of the National Institute of Statistics (INS), published on Friday. It is the first time in the last year that the inflation rate has fallen to a single digit. “The consumer price index in July 2023 ...
OTP Bank Romania reports net profit of 183 million RON in S1/2023
Monday, August 14, 2023
OTP Bank Romania announces the financial results for the first half of 2023. The bank recorded a consolidated net profit of 183 million RON in the first semester of 2023, driven by higher operating profit and positive risk costs on loans. Operating profit in the first six months of 2023 reached RON 120 million, up 39 percent over the same interval of last year, while net interest income jumped by 39 ...
Alpha Bank Romania first half 2023 financial results highlights
Monday, August 14, 2023
In an economic context with multiple challenges, Alpha Bank Romania remained a trustworthy partner of its customers and of the Romanian economy, while strengthening its position in the market: • The net loan portfolio grew 10% compared to the same period last year driven by the financing of legal entities – both large companies and SMEs; • Profit after ...
tbi Bank makes CASH zero accessible abroad, for Romanians in the Diaspora
Monday, August 14, 2023
The economic and social context this year is challenging for most Romanians, including those working abroad, as most costs have risen exponentially, due to inflation. Financing needs remain the same or even increase in this context and consumers seek lending solutions that can help them access the money they need immediately and allow them to repay with minimum impact on the family budget. tbi bank ...
Banca Comerciala Romana, MoneyGram launch fast moneny transfer solution to Romanian and abroad
Monday, August 14, 2023
Banca Comerciala Româna (BCR) has launched a new solution through which any person, regardless of whether he/she is a client of the bank or not, can receive and send money more simply and quickly, from and to over 200 countries, through the bank's multipurpose machines, the bank informs on Monday.According to the same source, the facility is already available at BCR multifunction machines (MFMs), based on a partnership with MoneyGram, ...
Deloitte study: Economic optimism recovering, but slower than post-financial crisis
Monday, August 14, 2023
The confidence in the evolution of the economy is improving, after a 12-month decline following the Ukraine war, according to the latest Deloitte Central Europe Private Equity (PE) Confidence ...
BVB Group records RON 3.35 million in net profit on H1 2023
Monday, August 7, 2023
Bucharest Stock Exchange Group reported a net profit worth RON 3.35 million in the first half of this year, down 62 pct compared to the same period last year, according to a BVB report.BVB's individual net profit in the first half of 2023 was RON 3.72 million, down from RON 9.10 million in H1 2022, with a net margin of 29 pct.According to the report, BVB Individual's operating revenues in H1 2023 amounted to RON 13 million, down 29 pct compared ...
Raiffeisen Bank Romania And BCR Coordinated And Signed A EUR 550 M Syndicated Loan Facility To Ameropa Group
Monday, August 7, 2023
Raiffeisen Bank Romania and Banca Comerciala Romana (BCR) have successfully signed a syndicated loan together as Coordinators and Bookrunners, providing a total financing of up to EUR 550 million to Ameropa Group – Romanian business lines, intended to support the working capital needs. The syndicated facility was closed alongside ING Bank Romania, ...
Consumer Protection controls credit contracts issued between 2004 and 2010
Monday, August 7, 2023
The National Authority for Consumer Protection (ANPC) has started, at the national level, an extensive campaign of detailed control of business operators in the banking system, regarding credit contracts, divided into several sections.According to a release from ANPC, the loan contracts issued between 2004 and 2010 will be checked first, until the entry into force of the Emergency Ordinance 50/2010, and then, in the subsequent stages, the other loan ...
Exim Banca Romaneasca Issues State Guarantees For Renewable Energy Projects
Monday, August 7, 2023
Exim Banca Romaneasca launched a new guarantee product in the name and on behalf of the Romanian state that facilitates access to finance for companies implementing investment projects in the field of renewable energy (wind, solar and geothermal energy, hydroelectric energy, biomass etc.). The guarantee, which can cover up to 80% of the financing amount, is granted for new loans intended to cover ...
tbi bank extends partnership with Flanco, bringing BNPL to offline stores
Monday, August 7, 2023
Retail expansion in recent years has been driven by both online and in-store purchases, but inflation created a complicated economic and social environment, especially this year. In this delicate context, retailers are now trying to offer as many financing options as possible, in-store also. To help more customers benefit from the efficient financing tool Buy Now Pay Later, usually used in online shopping, in an offline environment, tbi bank has partnered with Flanco, one of ...
Study: More Romanians Save Money Every Month, 35% More Than Last Year
Monday, August 7, 2023
* 3 out of 10 Romanians manage to save money every month, more than last year. 5 put aside only a small amount and 2 out of 10 Romanians do not save at all. The number of Romanians who manage to save a reasonable amount of money (between 20 and 50% of their income) each month ...
BRD Group results for H1 2023
Monday, August 7, 2023
Main commercial trends and financial indicators of BRD Groupe Société Générale on June 30, 2023, at a consolidated level, according to the International Financial Reporting Standards (IFRS) – Strong lending growth supported by corporate dynamic and retail resilience - corporate lending activity, printing high at +18% YoY, ...
Open Banking Technology Has the Potential to Reduce up to 80% of Companies’ Accounting Operations
Monday, August 7, 2023
Smart Fintech, the first third-party provider authorized by the National Bank of ...