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Financial & Banking

Bloomberg: Sovereign Supply Glut Joined by Busiest Borrower in East Europe

Monday, April 12, 2021

Romania seeks 12-year and 20-year maturity in first 2021 sale   Italy and Portugal also in Europe’s primary market Wednesday   Romania is back in the international debt markets as it ratchets up spending to boost infrastructure projects and Covid-relief efforts.In its first foray this year, the ...

BNR: Press release on ceasing the publication of LIBOR (London Interbank Offered Rate) settings

Monday, April 12, 2021

  The National Bank of Romania (BNR) is the national competent authority in the field of supervising interest indices used by credit institutions and non-bank financial institutions as benchmarks in credit agreements, as regulated at European level ...

IMF lifts Romania's 2021 GDP growth forecast to 6%

Monday, April 12, 2021

Romania's economy will grow by 6% this year, the International Monetary Fund (IMF) said on Tuesday, increasing its forecast for a 4.6% growth made in October. In 2022, the IMF expects Romania's economy to grow by 4.8%, the Fund said in the April edition of its World Economic Outlook (WEO) report.   Romania's economy contracted by 3.9% in 2020, the IMF ...

Erste refinances entire Romanian portfolio of Belgian real estate investor Mitiska

Monday, April 12, 2021

Mitiska REIM, a leading specialist investor in European retail parks and convenience centers, has secured a EUR 123 million senior debt facility from Erste Group Bank AG to refinance its entire retail park portfolio in Romania.   The company manages one of the largest retail real estate portfolios in the country, including 24 shopping centers with a total area of 132,000 ...

BVB’s blue chips boast average 14% surge in Q1

Monday, April 12, 2021

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Construction materials producer TeraPlast Bistrita (TRP), nuclear power producer Nuclearelectrica (SNN), and aluminum producer Alro Slatina (ALR) were the best performing shares on the Bucharest Stock Exchange's (BVB) main market in the first three months of 2021.   They recorded gains of 83%, 42%, and 25%, according to BVB data. The market's blue-chip index BET advanced by 14% in Q1, marking the best start of the ...

BCR: economic activity in RO slows down in March amid restrictions

Monday, April 12, 2021

The economic activity in Romania deteriorated in March to 88% of the activity of a normal pre-pandemic month, down from 92% in February, according to a report by BCR quoted ...

Net assets of the investment funds grew by 1.1 in February

Monday, April 12, 2021

The net assets of the local investments funds registered growth of 1.1% in February against the previous month, being at a value of approximately 20.7 billion lei, according to a report of the Authority for Financial Supervision ( ASF).At the end of February 2021, the net assets of the funds for liabilities and fixed income grew by 0.6% as compared to the previous month, and those belonging to trusts recorded growth of 3.7% according to the data published by the ...

Joint press release on the accreditation of the financial education course for teachers teaching the mandatory “Social education” subject to eighth graders

Monday, April 12, 2021

The Ministry of Education, the National Bank of Romania, the Romanian Banking Association, the Romanian Banking Institute, the Financial Supervisory Authority and the Institute of Financial Studies have announced the accreditation of the single comprehensive course entitled “Economic and financial education for teachers”. The target group of this course consists of the secondary education teachers that teach “Social education” to eighth graders. ...

Signal Iduna reports 27 pct increase in volume of gross written premiums in 2020

Monday, April 12, 2021

The insurance company Signal Iduna Insurance Re-insurance ended 2020 with a 27 pct increase in the volume of gross written premiums compared to the previous year, thus exceeding the value of 120 million lei, informs the company in a press release sent on Wednesday.The company remains the leader of the health insurance market, according to the latest report issued by the Financial Supervisory Authority, the quoted document states.The number of insurance ...

ANIS and BVB will partner to promote the local capital market as a financing source for IT entrepreneurs

Monday, April 12, 2021

ANIS and Bursa de Valori Bucuresti (BVB) – Bucharest Stock Exchange signed a memorandum of understanding in order to promote the capital markets financing opportunities towards the Romanian IT companies.   The local IT sector witnessed a spectacular growth during the last ...

TBI Bank and Instant Factoring provide a unique solution for entrepreneurs and SMEs: the first complete tool for financing digital invoices

Monday, April 12, 2021

TBI Bank, one of the leading phygital lenders in the South Eastern European region, and Instant Factoring, the first Romanian online factoring company, developed a new digital invoice financing solution, in an atypically context, where the current pandemic accelerated the negative impact of uncollected invoices. The two companies are now providing to their customers a “one stop shop” digital invoice ...

Patria Bank and QUALITANCE partner in user experience design

Monday, April 12, 2021

QUALITANCE, the international innovation, tech and Artificial Intelligence company founded and headquartered in Romania, has announced today a new innovation partnership with Patria Bank, aiming to create new seamless user experiences for the bank’s customers. In a joint effort, Patria Bank and QUALITANCE will study user journeys and uncover new ways to serve and delight customers.   The combination of the trusted ...

Intesa Sanpaolo Bank takes important steps to support companies that implement the principles of the Circular Economy

Monday, April 12, 2021

Intesa Sanpaolo Bank, the Romanian subsidiary of the Intesa Sanpaolo Group, recently granted to the Romanian company SUPERCOM SA a credit facility worth RON 19,6 million (~ 4 million EURO) necessary to acquire equipment, all new, specially designed for cleaning and selective waste collection, incorporating the latest technology in the field and a low level of pollution.   Through this financing, Intesa Sanpaolo Bank Romania ...

Press release of the National Committee for Macroprudential Oversight regarding the meeting of 30 March 2021

Monday, April 5, 2021

The first meeting of this year of the General Board of the National Committee for Macroprudential Oversight (NCMO) was held on 30 March 2021 by written procedure.   During the meeting, Board members examined analyses and adopted measures concerning macroprudential policy and systemic risk, namely the regular analysis on the recalibration of the countercyclical capital buffer, the draft Annual Report of the National ...

BNR: International reserves – March 2021

Monday, April 5, 2021

On 31 March 2021, the National Bank of Romania’s foreign exchange reserves stood at EUR 35,709 million, compared to EUR 35,139 million on 28 February 2021. During the month, the following flows were recorded: EUR 2,019 million worth of inflows representing changes in credit institutions’ foreign currency-denominated required reserves, inflows into the Ministry of ...

Agricover Holding takes the first step on Bucharest Stock Exchange by listing the largest bond issues of a Romanian entrepreneurial company at BVB

Monday, April 5, 2021

  Agricover Holding, the main player in the Romanian agribusiness, took the first step on Bucharest Stock ...

OTP Bank Romania announces the end of The share capital increase process with 250 Million lei

Monday, April 5, 2021

OTP Bank Romania received a share capital increase of 250 million lei. Last year, OTP Bank Romania significantly invested in multiple areas, announcing the opening of new branches, increasing its digital capacity (full online PL and account opening process for new customers), renewing its marketing strategy, and hiring 200 new colleagues. These activities, and the 13% increased loan portfolio, imply additional capital need that was ...

Subscriptions for Tezaur retail government securities open in April

Monday, April 5, 2021

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 Retail subscriptions are open between April 1 - 26, 2021 for Tezaur government securities through the operative units of the State Treasury and the Romanian Post offices, the Finance Ministry said in a release.The securities' annual interest rates are 2.95 percent for one-year securities, 3.35 percent for 3-year securities, and 3.75 percent for 5-year securities.The securities with the face value of 1 RON are issued in dematerialized form, ...

EVERGENT Investments the best performing financial investment company in the last 10 years changes its ticker from SIF2 to EVER

Monday, April 5, 2021

EVERGENT Investments, the investment company recognized for the highest market value and for the best return offered to its shareholders, changes its ticker from SIF2 to EVER, starting with March 29th, 2021.   Changing the ticker in EVER is part of the company's shareholder-supported rebranding process to reflect a new development breakthrough, according to the new ...

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