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Financial & Banking

Netopia Payments:  Total volume of card transactions advances 60 pct in 2020

Monday, March 15, 2021

Digital payments processor Netopia Payments reported a 60 percent increase in the total volume of card transactions in 2020, compared to the previous year; the largest transaction processed was 97,000 lei, the company said in a release.Last year, Netopia topped the 2 billion euro threshold of processed transactions overall since the start of card payments processing activities in 2009.The number of online card transactions was by approximately 20 ...

Euroins Romania: Tanja Blatnik appointed General Manager

Monday, March 15, 2021

Euroins Insurance Group is proud to announce Tanja Blatnik as its new General Manager for Romania. The proposal of Euroins Insurance Group was accepted by the Financial Supervisory Authority of Romania. Mrs. Blatnik joins Euroins România with over 20 years of experience in the insurance industry, managing and leading important operational teams and innovative projects across Central Europe. Prior to joining Euroins Romania, Tanja Blatnik held the ...

BNR: AGRI-FOOD SECTOR – A KEY ELEMENT OF ROMANIA’S ECONOMIC DEVELOPMENT

Monday, March 15, 2021

By Leonardo Badea, Deputy Governor of the National Bank of Romania (BNR)   In Romania, the cultivation of the land and the processing of agricultural products has always been of significant economic and social importance. With the return to the competitive market economy model in the 1990s, because of the insufficient level of local private capital and public policy ...

BNR: International reserves – February 2021

Monday, March 8, 2021

On 28 February 2021, the National Bank of Romania’s (BNR) foreign exchange reserves stood at EUR 35,139 million, compared to EUR 37,454 million on 31 January 2021.   During the month, the following flows were recorded: EUR 2,557 million worth of inflows representing changes in credit institutions’ foreign currency-denominated required reserves, ...

BNR: Over 18.83 million cards issued in Romania, by end of December 2020

Monday, March 8, 2021

 The total number of cards issued in Romania at the end of the last quarter of 2020 was 18,830,297 units, up 1.05% compared to the end of the previous quarter, according to data centralised by the National Bank of Romania (BNR).According to the quoted source, out of this total, 14,579,234 cards (77.42%) were active, compared to 14,242,026, at the end of September 2020.A number of 15,835,506 cards had a debit function and 2,885,673 a credit ...

BNR survey: Banks planning to maintain lending standards unchanged in Q1 2021

Monday, March 8, 2021

Banks will maintain their lending standards unchanged in the first quarter of this year, both for consumer loans and for property loans, found the February survey on lending to non-financial corporations and households conducted by the National Bank of Romania (BNR).According to the survey, lending standards remained predominantly constant in Q4 2020, both for consumer loans and for loans granted for the purchase of housing and land.Also, about ...

Deloitte study: chief financial officers in Romania are more optimistic than in 2020

Monday, March 8, 2021

Chief financial officers in Romania are more optimistic than six months ago regarding the evolution of their companies’ main financial indicators, according to the latest edition of Deloitte CFO Survey Romania, conducted based on opinions ...

 Romcab’s shares return to trading on BVB after four-year break

Monday, March 8, 2021

The shares of Romanian insolvent cable producer Romcab (MCAB) resumed trading on the Bucharest Stock Exchange (BVB) on Thursday, March 4, after a four-year hiatus.   The market regulator ASF allowed the trading of MCAB shares after a local court confirmed the company’s reorganization plan.   According to the document, the company will ...

Purcari Wineries’s shares surge on BVB as the company announces free share distribution

Monday, March 8, 2021

The shares of Moldovan wine producer Purcari Wineries (WINE) went up by 6.25% on Thursday, March 4, after the company announced that it would double its share capital and distribute free shares to its existing shareholders.The proposal will be discussed in the company’s General Shareholders’ Meeting on March 20.   Purcari plans to increase its share capital from EUR 200,000 to EUR 400,000 by ...

Sale of Credit Agricole’s Romanian branch reaches competition body

Monday, March 8, 2021

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The Competition Council announced on March 2 that it is analyzing the transaction through which Vista Bank Romania plans to take over Crédit Agricole Bank Romania.   The two sides announced the deal last year, but banking market sources familiar with the negotiations suggested some delays in its completion, according to the local ...

Eurohold, owner of Euroins România, plans to raise up to EUR 100 million via a new share issue on the BSE

Monday, March 8, 2021

Eurohold AD, the largest public holding in Bulgaria and one of the leading independent business groups operating in Southeast Europe, plans to increase its capital by issuing new shares on the Bulgarian Stock Exchange (BSE), which will allow the company to raise up to EUR 100 million. The proposal will be voted at an extraordinary general meeting of the shareholders on 10th April.   Eurohold AD will offer for ...

PayU:e-commerce market exceeds 7bn euros last year

Monday, March 8, 2021

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The local e-commerce market reached 7 billion euros last year, up 36% compared to 2019, according to internal and external data analyzed by PayU, the leader of Romania's online payment market."E-commerce is one of the fastest growing sectors, and Romania is no exception, registering an accelerated evolution, amid the COVID-19 pandemic, which would normally have occurred in years. This evolution had a direct impact in the growth of e-commerce and in the ...

BVB's Hanga: More than 12,000 new accounts opened with brokers in 2021

Monday, March 8, 2021

Over 12,000 new accounts have been opened with brokers in 2021, up almost 20pct from the previous year, the head of the Bucharest Stock Exchange (BVB), Radu Hanga, told an online press conference on Monday."We are pleased to look back at 2020 to see that we have seen a maximum in terms of transaction volume, a record high. We are pleased to see more than 12,000 new accounts opened with brokers in 2021, growing by almost 20pct compared to the previous year. Also, ...

SIF Moldova changes name to Evergent Investments

Monday, March 8, 2021

Romanian investment company SIF Moldova (SIF2), one of the five former "private property investment funds – FPP" created in Romania's mass privatization process in the 90s, officially changed its name to Evergent Investments.   The decision adopted by the company's shareholders in November 2020 was recently registered at the Trade Registry's Office and cleared by the Financial Supervisory Authority ...

OTP Bank Romania, lower net profit, 22 million RON in 2020

Monday, March 8, 2021

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OTP Bank Romania reports a lower net profit, of 22 million RON, for 2020, and the operational profit has reached 163 million RON, following the growth of 10% of the total income, in comparison with the previous year, according to a press release sent by the bank.According to the report published in Budapest, in which the bank's results are presented as consolidated, adjusted in concordance with the Group's standards, OTP Bank Romania registered a ...

Patria Credit IFN, net profit up by 33 pct in 2020

Monday, March 8, 2021

Patria Credit IFN obtained a net profit of 1.12 million euros in 2020, up 33% compared to the previous year, when it recorded a net profit of 841,000 euros, according to company data released on Thursday."We have growing figures for last year and for our customers 2020, the COVID-19 year, was an opportunity. We must admit that the closure or restrictions of transport, for example, the reduction or increase of imports have led to a growing market place for the ...

Opening speech at the EIB seminar Investment and Investment Finance in Romania: Towards a green and smart economy in Romania

Monday, March 1, 2021

Mugur Isarescu, NBR Governor   Vice President Thomsen, Distinguished audience,   I am delighted that so many of you could join us virtually today to a new edition of the seminar dedicated to Investment and Investment ...

Outlook 2021:  Erste Group expects economic upturn in 2021 

Monday, March 1, 2021

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• GDP growth rates seen between +3% and +6%, with Hungary posting region’s strongest upswing • CEO Bernd Spalt: „We will experience an economic rebound in 2021“  • Insolvencies: only trailing effect, no insolvency wave  • Company outlook: lower risk costs, significantly higher ...

BCR's 2020 net profit at 814.1 ml lei, up 37.2 pct

Monday, March 1, 2021

BCR's 2020 net profit of 814.1 million lei (168.3 million euros) was 37.2 percent higher than the 593.3 million lei (125 million euros) reported in 2019, due to the strong increase in lending and a higher operating result, partly from offsetting higher risk costs, the bank said in a release.The bank mentions that the net profit of 2019 was affected by the creation in Q2 2019 of an exceptional provision related to the activity of BCR Banca pentru ...

Profit of Banca Transilvania goes down 20% in 2020

Monday, March 1, 2021

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The consolidated net profit of Banca Transilvania (TLV), Romania's biggest financial group by assets, decreased by 20% to RON 1.48 billion (just over EUR 300 million) in 2020.The group's assets reached RON 107 bln (EUR 22 bln), 17.2% more than the previous year.   Banca Transilvania's individual net profit dropped by 26% to RON 1.2 bln (EUR 247 mln), while its operating income edged down by 2.3% to RON ...

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