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Financial & Banking

OTP Bank Romania, profit after tax totaling 58 million RON, in 2021

Monday, March 7, 2022

  OTP Bank Romania has recorded a profit after tax of 58 million RON, throughout 2021, over double the result reported in the previous year, according to a release of the bank.The operational profit in 2021 has reached 123 million RON, in a descending trend over the previous year, especially due to the increase of operational expenses by 18%. The largest part of these costs comes from the bank's development strategy, launched in 2019, supported by ...

Zdenek Romanek officially takes over his mandate as President and CEO of Raiffeisen Bank

Monday, March 7, 2022

Zdenek Romanek has been authorized by the National Bank of Romania and officially takes over his mandate as President and CEO of Raiffeisen Bank. In November 2021, following an international selection process, the Austrian group Raiffeisen Bank International (RBI) appointed the Czech Zdenek Romanek as CEO of Raiffeisen Bank Romania. Romanek joined the Raiffeisen Bank team on February 1st, 2022 and takes office today, after The National Bank of ...

Consumer watchdog finally wins unfair business practices lawsuit against Raiffeisen Bank SA

Monday, March 7, 2022

 The National Consumer Protection Authority (ANPC) announced on Wednesday having definitively won the unfair business practices lawsuit against Raiffeisen Bank SA, and that the financial institution will consequently have to revise its interest rates for certain loan agreements.According to an ANPC release, the High Court of Cassation and Justice issued a final ruling in the case in which Raiffeisen Bank SA was found to have resorted to unfair ...

Raiffeisen Bank Romania posts 22% higher profit in 2021

Monday, March 7, 2022

Raiffeisen Bank, one of the top lenders on the Romanian market, reported a net profit of RON 788 million (EUR 160 mln) in 2021, 22% higher than the previous year. The growth was mainly determined by the strong increase in lending and improved risk profile for the bank's customers.   "Undoubtedly, the increase in our profit was directly influenced by the bank's involvement in supporting the Romanian ...

Govt. adopted new edition of its guarantees program for mortgage loans

Monday, March 7, 2022

Romania’s Government adopted on Wednesday, March 2, the changes to its “New Home” (formerly First Home) program, which offers state guarantees for mortgage loans taken by individuals.   The main change introduced this year is that the beneficiaries are obliged to get an insurance policy against all risks for the whole duration of the loans.   The state ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 9 February 2022

Monday, February 28, 2022

21 February 2022   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; Florin Georgescu, Vice Chairman of the ...

Mugur Isarescu, NBR Governor: Opening speech at the EIB webinar Investment and Investment Finance in Romania

Monday, February 28, 2022

  Vice President Thomsen, Distinguished audience, Ladies and gentlemen,   Welcome to this year’s webinar organized by the European Investment Bank in partnership with the National Bank of Romania, titled „Policy support and the emerging “new normal”: How ...

EIB survey shows recovery underway following economic shock in Romania – (EIBIS) presented in an online event co-organised by NBR and EIB

Monday, February 28, 2022

Results of the annual EIB Investment Survey presented at joint National Bank of Romania (NBR) and European Investment Bank (EIB) policy response conference:   Covid-19 has been a massive economic shock but countered with an impressive policy response. The Romanian economy showed resilience and recovery is under way. The policy ...

BNR: Monetary indicators – January 2022

Monday, February 28, 2022

At end-January 2022, broad money (M3) amounted to RON 568,087.5 million, up 0.6 percent (down 0.8 percent in real terms ) month on month and 15.9 percent (6.9 percent in real terms) year on year the Romanian Central Bank (BNR) ...

BT Financial Group closes 2021 with net consolidated profit of 2.045 billion RON

Monday, February 28, 2022

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The Banca Transilvania Financial Group has closed last year with a consolidated net profit of 2.045 billion RON, of which the bank's stands at 1.782 billion RON, according to a release of the bank."In 2021, despite an unpredictable climate, we, at BT, have maintained our optimism and firm commitment to contribute to the relaunch of the Romanian economy, and today we are glad the figures confirm expectations. It was a year in which we financed ...

Investment fund industry reaches 52 billion RON in assets

Monday, February 28, 2022

The investment fund industry administers presently assets worth approximately 52 billion RON, said, on Wednesday, the President of the Association of Fund Administrators of Romania (AAF), Horia Gusta, in a debate about the evolution of investment funds in the past year.The event organized by the Bucharest Stock Exchange (BVB) was attended by the representatives of the investment funds with the top five yields last year - Patria Asset Management, BRD Asset ...

Transport organisation accuses financial watchdog vice-president of increasing by 36 pct RCA reference fees

Monday, February 28, 2022

The Confederation of Licensed Romanian Operators and Hauliers (COTAR) will file a criminal complaint against financial watchdog vice-president Cristian Rosu for having presented to the Finance Ministry, as part of the draft government decision on the capping of the mandatory motor vehicle liability insurance (RCA), a list of reference fees by 36 percent higher than those published by the market supervisory authority on February 21."Financial Supervisory Authority ...

BRD – Groupe Société Générale becomes ARIR member

Monday, February 28, 2022

The Romanian Investor Relations Association (ARIR) announced a new Associate Member – BRD – Groupe Société ...

UniCredit group reports 81% higher earnings in Romania

Monday, February 28, 2022

The Italian group UniCredit reported for 2021 a net profit of EUR 170 mln from its operations in Romania, increasing by about 81% compared to the consolidated earnings in 2020, according to the financial results announced in Milan, quoted ...

Raiffeisen Bank Romania reports 31.8% higher earnings in 2021

Monday, February 28, 2022

Austrian group Raiffeisen Bank International reported a net profit of EUR 173 mln for its operations in Romania last year, up 31.8% from 2020, according to preliminary figures subject to final evaluation by Raiffeisen's supervisory board. The final financial results for 2021 will be announced in March.   Raiffeisen Bank Romania, a top 5 player, is one of the local ...

CEC Bank will issue bonds to meet regulatory requirements

Monday, February 28, 2022

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  CEC Bank, the largest credit institution controlled by the Romanian state through the Ministry of Finance, is preparing to list at the Bucharest Stock Exchange a bond issue as part of a program of regulatory requirements, according to statements made by Bogdan Neac?u, the executive president of the bank.   The bank expects to get a rating from an international agency by the end of ...

Four out of ten Romanians own or owned cryptocoins

Monday, February 21, 2022

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The study was made among 500 internet users with ages between 18 and 55, coming from the urban or rural environment in Romania.The market study Tradesilvania refering to cryptocoins identified the fact that the majority (96% according to the study)of the Romanians adults connected to the internet heard about cryptocoins, the biggest part being from big cities (with over 200,000 inhabitants) with a higher level of education.At the ...

XPRIMM’s report “Insurance Profile Romania FY2019–FY2020– 1H2021” 

Monday, February 21, 2022

Romanian insurance market maintained an upward trend throughout years despite the challenges raised by the Covid–19 pandemics. Reporting a 5.6% growth rate in 2019, insurers ended the first year of the pandemic crisis with a 4.6% y–o–y increase in the total GWP.   The first half of 2021 ended ...

NN Romania closed 2021 with strong performance across all business lines

Monday, February 21, 2022

NN Romania recorded solid financial performance on all business lines in 2021, despite challenges still faced by the local economy in the Covid-19 context. The company consolidated its position as a financially stable life insurance and private pensions leader with a significant footprint in the local economy. At the same time, NN accelerated its digital transformation strategy, providing more benefits and a digital experience to clients in their interaction with their ...

Garanti BBVA Group Romania recorded net profit of 166 million lei in 2021

Monday, February 21, 2022

Garanti BBVA Group Romania, which includes Garanti BBVA bank, Garanti BBVA Consumer Credits and Garanti BBVA Leasing, registered a net consolidated profit of 166.1 million lei in 2021, on the rise by 55% compared to 2020.   “Garanti BBVA Group recorded last year net incomes of 557.3 million lei, 4% more than in 2020 and a 7% increase of active stock volume to 13 billion lei,”the bank ...

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