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Financial & Banking

Investors are more and more interested in green financing at the global level

Monday, June 28, 2021

  Bucharest Stock Exchange wants to become the main financing channel for green investments and intends to implement a segment of green bonds on the local capital market for an easier identification of financial instruments that support sustainable projects. The Ministry of Finance intends to issue the first ...

Bank lending gains momentum in Romania amid weak financial intermediation

Monday, June 28, 2021

The stock of bank loans in Romania increased by 10.1% year-on-year (YoY) as of the end of May, to RON 296.27 bln (EUR 60.2 bln), accelerating from 8.3% YoY one month earlier and 5.5% YoY at the end of December, the National Bank of Romania ...

Garanti BBVA Romania has a new CEO

Monday, June 28, 2021

Garanti BBVA Romania appointed Mustafa Tiftikcio?lu as its new CEO. He replaces Ufuk Tando?an, who completed his mandate after nine years at the bank’s helm, the financial institution said.The National Bank of Romania (BNR) approved the appointment.   With extensive experience in Corporate and Commercial Credit Risk Management and Project, Acquisition and Structured Finance, Mustafa Tiftikcio?lu has ...

BNR approved Mustafa Tiftikcioglu as CEO of Garanti BBVA Romania

Monday, June 28, 2021

The National Bank of Romania (BNR) has approved the appointment of Mustafa Tiftikcio?lu as CEO of Garanti BBVA Romania. Mustafa Tiftikcioglu replaces Ufuk Tandogan, who is completing his mandate within the bank, after 9 years at the helm of Garanti BBVA Romania.   With extensive experience in Corporate and Commercial Credit Risk Management and Project, Acquisition and Structured Finance, Mustafa Tiftikcioglu has been ...

European Council recommends Romania to put end to excessive deficit by 2024

Monday, June 21, 2021

The European Council on Friday adopted a recommendation under the excessive deficit procedure for Romania that Romania should put an end to the excessive deficit situation by 2024 at the latest."The Council found that an extension to the current deadline for Romania to correct its public deficit would be important in order not to compromise the economic recovery after the COVID-19 pandemic. The new deadline for correcting the excessive deficit allows for a more ...

Isarescu: The BNR treasure remains only case in which assumed restitution obligations - not respected

Monday, June 21, 2021

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The treasure of the National Bank of Romania (BNR) remains the only case in which a monetary gold reserve is entrusted with proper documents that it will be returned at any time at the request of the owner, and the obligations assumed have not been respected, the BNR Governor Mugur Isarescu said on Wednesday."The treasure of the National Bank of Romania remains the only case in which a monetary gold reserve is entrusted with proper documents and with all the ...

BVB's Tanase: We have 5,000 new investors in the stock market in the last quarter alone

Monday, June 21, 2021

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The Bucharest Stock Exchange (BVB) reported 5,000 new investors in the last quarter of this year alone, an increase by 8%, BVB CEO Adrian Tanase said on Wednesday at an online debate, noting that there is currently a positive context "on all fronts" on the stock market."There is a context on the stock market, and the context is a positive one on all fronts, we have a very good performance registered in the last year and year to date: almost 20% of the BET index ...

Almost half of loans granted to corporate sector aimed at companies that may be affected by climate change

Monday, June 21, 2021

 The transition to a green economy is a new challenge that companies may face in the coming period, and it could generate opportunities for both companies and the banking sector, but also negative implications, Florin Dragu, Chief of Service of the Department of Financial Stability of the National Bank of Romania (BNR) said on Tuesday.Dragu pointed out that almost 50 percent of the loans granted by banks to the corporate sector are aimed at companies that may ...

Initial public offer begins for listing One United Proprties company at BVB

Monday, June 21, 2021

 The Financial Supervisory Authority (ASF) approved in Wednesday's session the listing particulars for the initial public offer (IPO) to sell shares regarding the shares' listing of One United Properties on the Main Market of the Bucharest Stock Exchange (BVB), according to a press release sent by the authority on Thursday.The listing plan submitted by One United Properties, a real estate developer for residential top-notch state-of-the-art offices and mixed ...

Agroland Agribusiness - the second company from the Agroland group went public on the AeRO market

Monday, June 21, 2021

Agroland Agribusiness is the second company part of the Agroland group that went public on the AeRO market. It is also the 10th company to come on the stock exchange since the beginning of this year The company carried out a private placement for selling shares in April 2021 and raised more than RON 6mn from ...

Lending up 8.3pct in April, at balance level, highest increase since the begininning of pandemic

Monday, June 21, 2021

 Lending advanced in April 2021, at the balance level, by 8.3pct, up to 293 billion lei, with this being the highest growth rate since the beginning of the health crisis, Gabriela Folcut, executive director of the Romanian Association of Banks said on Tuesday.She added that the solvency indicator reached the highest level in the last 13 years, in December 2020, 25.14pct respectively."The Romanian banking system has gone through the first year of ...

BVB: Transport Trade Services becomes the first cargo carrier listed on Bucharest Stock Exchange following an IPO worth RON 288mn

Monday, June 21, 2021

TTS (Transport Trade Services), the largest Romanian carrier on the Danube, went public on the Bucharest Stock Exchange following an initial public offering, through which the company's shareholders sold 50% of the shares for RON 288mn. Radu Hanga, Bucharest Stock Exchange President: "The listing of the largest Romanian carrier on the Danube ...

Opening speech at the plenary meeting of the Center of Excellence in Finance Mugur Isarescu, NBR Governor

Monday, June 14, 2021

Esteemed Director Repansek, Distinguished Members of the Governing Board, Honoured colleagues,   It is my great privilege to welcome and address you all today, at the end of my mandate as Chair of the Governing Board of the Center of Excellence in Finance (CEF), on behalf of Romania. For me, it is an honour and a ...

Romanian, Moldovan central banks sign new Cooperation Agreement

Monday, June 14, 2021

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The main and enduring message of the National Bank of Romania (BNR) for the National Bank of Moldova is that of a sustainable and robust partnership, BNR governor Mugur Isarescu said on Friday at the signing ceremony of the new Cooperation Agreement between the Romanian and the Moldovan central banks."Let me begin by mentioning that this year we celebrate the 20th anniversary of the signing of the first cooperation agreement between the central banks of ...

Christian Kettel Thomsen (EIB VP): EIB to focus on private sector growth and FDI in Romania

Monday, June 14, 2021

Christian Kettel Thomsen, European Investment Bank (EIB) Vice President responsible for Romania, talked to Business Review about the sectors the institution supports in Romania, its future plans for our country, and how it fosters sustainable investments with a lasting impact on the local market.   How do you think the Romanian economy has evolved since the EIB started operating in the country back in ...

Utku Ogrendil has been appointed CEO of PayPoint Romania

Monday, June 14, 2021

Utku Ogrendil has been appointed CEO of PayPoint Romania. With an extensive experience in the financial-banking field, he will focus on strengthening the company’s position locally, with a focus on innovation. The appointment of Utku Ogrendil as CEO of the company is made after the private equity fund Innova Capital took over the entire assets and operations of PayPoint Services SRL.   The new CEO of PayPoint Romania ...

Banca Transilvania chooses SAS solutions for a holistic approach in order to fight fraud

Monday, June 14, 2021

SAS, the global leader in analytics, announces that Banca Transilvania, the largest bank in Romania, will implement a SAS solution to cover all the needs of detecting and preventing bank fraud. This collaboration is the result of a close partnership between Banca Transilvania and SAS, carried out over a year, which will bring a competitive level to the bank and will ultimately determine better services to its end ...

Banca Transilvania ups forecast for Romania's economic recovery

Monday, June 14, 2021

Romania's biggest financial group Banca Transilvania has revised its economic growth forecast upward, estimating a GDP advance of 6% in 2021, followed by 5.5% in 2022 and 4.8% in 2023.   The upward revision, 0.6pp for this year and 1.4pp for 2022, is underpinned by robust growth of the gross fixed capital formation.   Q1 GDP data published ...

ASF: Total assets of private pension funds increased by 33% in the first quarter

Monday, June 14, 2021

Private pension funds (Pillar II and Pillar III) accumulated, at the end of March, 83.34 billion lei in total assets, by 33% more compared to the previous year, informs the Financial Supervisory Authority (ASF), through a press release.According to the quoted source, as a share in GDP, the total assets of the private pension system registered a level of 7.9%."The private pension market was the least affected by the COVID-19 pandemic, given its ...

EBRD: NPLs stable in central and south-eastern Europe during Covid-19 pandemic

Monday, June 14, 2021

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Non-performing loans stable in CESEE during Covid-19 pandemic New report warns of impact of tapering state support Regulators monitoring banks’ asset quality closely   Massive state intervention in the economy ...

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