Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS

Subscribe|Login

Financial & Banking

 Loans of over RON 23 Bln granted to citizens and companies during March-June

Monday, August 10, 2020

200810104840download.jpeg

The volume of the new loans granted to the Romanian population and companies based in Romania during the first four moths of 2020, so during the coronavirus pandemic, represents 8.5% of the balance of the non-governmental credit related to June 2020. More precisely, banks in Romania have granted new loans to citizens and companies worth over RON 23.1 billion during March-June this year. During the state of emergency the ...

ANAF's 2019 budget collections at 271.62 bln lei, 99.2 pct of planned amount

Monday, August 10, 2020

Collections by the National Tax Administration Agency (ANAF) last year amounted to 271.639 billion lei, which represents a 99.2 percent achievement rate of the budget revenue plan, shows the 2019 activity report published on the agency's website.According to the cited document, ANAF collections in 2019 were by about 10.9 percent or 26.806 billion lei higher compared to the 244.832 billion lei collected in 2018.ANAF points to the increase of the GDP ...

Raiffeisen Bank finances over 100 Romanian startups within Factory 2020 programme

Monday, August 10, 2020

Raiffeisen Bank has completed the third edition of the Factory by Raiffeisen Bank programme whereby it finances businesses at the beginning of the road, regardless of the field of activity, and this year the bank is providing 112 financing plans to support startup companies, with a maximum budget of 50,000 euros, equivalent in lei, for each project, according to a press release from the bank. "Our business idea factory has had an intense activity over the ...

Negative cost of risk halves Romania's BRD net profit in H1

Monday, August 10, 2020

 Romanian bank BRD [BSE:BRD], part of France's Societe Generale group, said on last Monday its first-half net profit fell by an annual 49.5% to 405 million lei ($99 million/ 84 million euro), influenced by a negative cost of risk and a deteriorated economic perspective. Cost of risk turned negative at the end of June to 202.6 million lei versus a release of 153 million at the end of June 2019, mainly reflecting ...

BCR turns to profit in H1

Monday, August 10, 2020

The second biggest Romanian bank by assets, Banca Comerciala Romana (BCR), part of Erste Bank Group, reported RON 499 million (EUR 104 mln) net profit in the first half of the year (H1) compared to RON 20.8 mln (EUR 4.4 mln) losses in the same period last year. The losses in 2019 were generated by provisions related to a negative court decision impacting BCR's housing bank ...

FinMin: Romania doesn’t need IMF agreement this year

Monday, August 3, 2020

Romanian finance minister Florin Citu speaking for B1 TV station assured that the country does not need an agreement with the IMF “this year.” He also said that the Government would observe the 6.7%-of-GDP public deficit target, which, he commented, is very tight compared to the 13% gap in the European Union and nearly 24% of GDP in the ...

Analyst: EU financing adds 5pp to Romania’s GDP annual growth by 2027

Monday, August 3, 2020

200803100359apply_for_financing.png

If Romania absorbs the EUR 80 bln financing from the European Union, the country can reach an additional economic growth of 5pp each year in the next seven years, estimates CFA Romania president Adrian Codirlasu, quoted ...

Marcel Bolos: Romania has attracted European funds of 2.3 billion euros during Orban government

Monday, August 3, 2020

Romania has attracted, during the Orban government, European funds of 2.3 billion euros, while in the last 6 years, overall funds of 5.6 billion euros were attracted, Marcel Bolos, the minister for European Funds declared in Botosani on Tuesday. According to him, the European fund absorption degrees grew from 30% in 2019 to 44% at present. “Since November 4, when we took over the rule, we also received 5.6 billion euros. ...

Law on increasing authorized capital held by Romania with IBRD promulgated

Monday, August 3, 2020

President Klaus Iohannis promulgated on Tuesday the law on increasing authorized capital held by Romania with IBRD with over 21 million dollars. According to the law,the increase of the authorised capital held by Romania with IBRD with 682 shares, worth 82,273,070 dollars is approved, according to provisions of Resolution 663/2018, adopted by the IBRD Governors' Council on October 1, 2018. The capital value is 16,454,614 US ...

 Romania's card transaction volume at 28 bln lei in Q2

Monday, August 3, 2020

The number of payments by cards issued by resident payment service providers was 9.6 percent up to 222.2 million in Q2 this year compared to the year-ago period, while the amount of payments was 28.27 billion lei, according to the platform dreptullabanking.ro, titled after the financial intermediation campaign ran by Romanian banks - #TheRightToBanking.Citing preliminary statistical data provided by the banking institutions to the National Bank of Romania, card ...

BCR's H1 2020 net profit at almost 500 ml lei

Monday, August 3, 2020

Banca Comerciala Romana (BCR) posted a net profit of 498.9 million lei (103.6 million euros) in H1 2020, compared to a net loss of 20.8 million lei (4.4 million euros) reported in the same period of 2019, the bank said in a release on Friday.According to the financial results, the operating profit advanced 9.3 percent to 898.2 million lei (186.5 million euros) in H1 2020 from 822 million lei (173.3 million euros) a year ago, while the net interest income increased ...

Erste Group reports half-year results 2020

Monday, August 3, 2020

“I want to thank all our employees in Austria and the CEE region for their exceptional work under the most difficult of circumstances over the past few months. As one of the leading financial institutions in CEE, Erste Group’s actions have been critical to keeping the region’s economies going. Among other things, we have been the transmission channel for over 16 billion euros in government measures and have kept almost all branches open, while our digital ...

BSTDB Invests in Green Bond issued by Real Estate Investor in Romania

Monday, August 3, 2020

The Black Sea Trade and Development Bank (BSTDB) invested EUR 35 million in a EUR 400 million bond issued by Globalworth, the leading office real estate investor in Romania. The proceeds of the Bank’s subscription will be used for the development and construction of office space in Bucharest in compliance with environmentally sustainable standards. “By investing in this issuance, ...

Garanti BBVA Group Romania posts net revenues of RON 263.1 Million in the first Semester 

Monday, August 3, 2020

Garanti BBVA Group Romania has registered net revenues of RON 263.1 million in the first half of 2020. Between January and June 2020, the Group’s total loan volume reached RON 8.66 billion, while the overall assets totaled RON 12.03 billion. On a stand-alone basis, Garanti BBVA posted a net revenue of RON 209.1 million, a 3.8% increase over the first half of 2019 result. The bank`s strategy to put the client in the center of its activities led to ...

 ROCA Investments: EUR 6.3 mln capital increase

Monday, August 3, 2020

Romanian investment and management platform for troubled companies ROCA Investments said its shareholders operated a RON 30.4 million (EUR 6.3 mln) capital increase. This was the first step of ROCA’s plan to double its capital to some RON 122 mln (EUR 25 mln) by the end of this year to make new investments. The second stage of the increase is set to begin in September, targeting new investors. The ...

Insurance market up 8.8% in Q1

Monday, August 3, 2020

The volume of gross written premiums on Romania’s insurance market (general and life) rose to RON 2.96 billion (EUR 622 million) in the first quarter of the year, 8.8% more than in the same period last year. The general insurance segment increased by 9.2% to RON 2.34 billion (EUR 493 mln). The leader of this segment, City Insurance, increased its share to 23% after its revenues rose by 20.5% to RON 540 mln (EUR 114 ...

Govt. to guarantee bank loans for Tarom, Blue Air

Monday, August 3, 2020

200803100551images__5_.jpeg

  Government will complete the notification procedure related to the state aid extended to the two airline operators Tarom (state-owned) and Blue Air (private) by the end of July. The Transport Ministry announced this after the latest round of talks with representatives of the two companies on July 27. The state aid will be under the form of guaranteeing the bank loans the two companies need for overcoming the effects of ...

BNR: Monetary indicators – June 2020

Monday, July 27, 2020

At end-June 2020, broad money (M3) amounted to RON 443,745.8 million, down 0.4 percent (or 0.5 percent in real terms) month on month. In year-on-year comparison, broad money rose by 13.6 percent (10.8 percent in real terms), the Romanian Central Bank – BNR informs. At end-June 2020, loans to non-government sector granted by credit institutions increased 0.4 percent (0.3 percent in real terms) from May 2020 to RON ...

ASF: private pensions represented at the end of March 5.83% of the GDP

Monday, July 27, 2020

The value of total assets in management, at the level of the whole private pensions system reached on 31st March 2020 at 62.55 billion lei ( 12.06 billion euro)up by 17.56% against March 2019 informed on Friday the Authority for Financial Supervision (ASF) which says that the average value of an account in the system of private pensions privately managed was 8,114 lei at the end of March. ‘The value of total assets managed at the level of the ...

Tsvetanka Mintcheva, the new executive first vice-president and member of the UniCredit Bank Directorate

Monday, July 27, 2020

Following the previous green light by the National Bank of Romania, Tsvetanka Mintcheva has started her term as executive first vice-president and member of the UniCredit Bank Directorate. Tsvetanka Mintcheva has a 20-year expertise in the banking sector and has built her career within UniCredit Group Bulgaria. From the position of member of UniCredit Bulbank Directorate, she led the GBS Division of the UniCredit Bulbank in the ...

Premium News

Daily

Friday, November 27, 2020

Financial & Banking

Monday, November 23, 2020

Economic

Tuesday, November 24, 2020

Companies

Wednesday, November 25, 2020

Energy & Environment

Thursday, November 26, 2020