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Financial & Banking

BCR to allow cash withdrawals in euro at its ATMs in Romania

Monday, September 12, 2022

Banca Comercial? Român? (BCR), Romania’s second-largest bank, will allow its customers to make withdrawals in euros at its ATMs in Romania.   The new function will be available starting this month, and roughly 100 ATMs in Bucharest and other large cities will allow euro withdrawals in the initial phase. The service will extend to over 300 ATMs by the end of the year, according to the press ...

IFC invests 42M US dollars in first sustainability bond in Romania

Monday, September 12, 2022

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Romania's first sustainability bond will help promote both financing in the field of climate change and that in the social field, with IFC investing the equivalent of 42 million US dollars in order to strengthen the financial sector and to promote financial inclusion in the country, informs a press release of the financial institution.Senior non-guaranteed sustainability bonds, in local currency, issued by Raiffeisen Bank S.A. (RBRO) from Romania, will help ...

Romanians withdraw less money from mutual funds in July

Monday, September 12, 2022

The investors withdrew RON 510 mln (EUR 105 mln) from local open investment funds in July, visibly less compared to previous months, according to data from the Association of Fund Administrators (AAF).   The fund's aggregated net assets were RON 10.7 bln (roughly EUR 2 bln) at the end of the month.   The largest outflows were in the segment of fixed-income (bond) funds ...

Uniqua’s Romanian subsidiary may acquire small-sized player Garanta

Monday, September 12, 2022

Uniqa Asigurari, the subsidiary of Austrian insurance group Uniqa, is reportedly in talks to take over Garanta Asigurari - another small-sized player controlled by Swiss-Greek businessman Jean Valvis and Posta Romana, according ...

Polish Inovo VC fund earmarks EUR 10-20 mln to Romanian startups

Monday, September 12, 2022

Inovo VC, a manager of venture capital funds from Poland, plans to invest about 10-20% of its third fund, seen at EUR 100 mln, in Romanian technology startups, according to Ziarul ...

Nuclearelectrica benefits from the Issuer Market Maker services provided by Wood Company

Monday, September 12, 2022

Societatea Nationala Nuclearelectrica (SNN), the sole producer of nuclear power and nuclear fuel using CANDU 6 type technology in Romania, company listed on the Bucharest Stock Exchange (BVB) since 2013, will benefit from September 7 from the issuer's market-making services provided ...

BNR: International reserves – August 2022

Monday, September 5, 2022

On 31 August 2022, the BNR’s (National Bank of Romania ) foreign exchange reserves stood at EUR 42,851 million, compared to EUR 42,768 million on 31 July 2022.   During the month, the following flows were recorded: EUR 2,878 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with ...

EBRD supporting Romanian firms affected by war on Ukraine

Monday, September 5, 2022

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EBRD lends €25 million to Banca Transilvania to support flow of credit to Romanian economy Loan will support the bank in on-lending to businesses impacted by war on Ukraine EBRD has pledged €2 billion to support companies and countries affected by the ...

FONDUL PROPRIETATEA FINANCIAL RESULTS FOR H1 2022

Monday, September 5, 2022

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Fondul Proprietatea (hereinafter “The Fund”) published today its financial results for the six months ended 30 June 2022 and would like to share the following highlights:   The Fund's share price performed well in the first part of 2022. As at the end of the first six months of the year, on 30 June 2022, the share price was RON 2.0600, implying a discount ...

Raiffeisen Bank is listing the first sustainability bonds on the Bucharest Stock Exchange

Monday, September 5, 2022

Raiffeisen Bank,  key player in the Romanian banking sector, listed on Wednesday, August 31, the first sustainability bonds issue on the Bucharest Stock Exchange ...

BNP Paribas Personal Finance Bucharest receives the Best Place to Work certification

Monday, September 5, 2022

BNP Paribas Personal Finance SA Paris Bucharest Branch, through its trademark Cetelem, joined a prestigious group of companies that are committed to the highest standards regarding the working environment and a great dedication to HR excellence. The company has been recognized and certified as one of the Best Places to Work for in Romania for 2022.   The score obtained by the company is 80% and is based both on the ...

Eurohold, owner of Euroins Romania, registers strongest half-year results in company’s history

Monday, September 5, 2022

Eurohold Bulgaria AD, a leading energy and financial group in Southeast Europe, reported record half-year results in 2022 due to the strong performance of the company’s two main businesses – electricity and insurance, according to the company’s consolidated interim financial statement.     Total revenue nearly quadrupled to EUR 1.62 billion in January-June, an absolute record-high value in the ...

Cryptocurrency Elrond now available in Revolut

Monday, September 5, 2022

Elrond EGLD, the native currency of the Romanian blockchain network Elrond, has been added to the list of cryptocurrencies available in Revolut, making it accessible for trading directly from the popular fintech app.   Launched in July 2020, Elrond presents itself as the internet-scale blockchain network that serves as the infrastructure for Web3 payments, DeFi and the new Metaverse ...

BNR: Monetary indicators – July 2022

Monday, August 29, 2022

At end-July 2022, broad money (M3) amounted to RON 575,750.0 million, up 1.1 percent ( 1.2 percent in real terms) month on month. In year-on-year comparison, broad money rose by 9.6 percent (down 4.6 percent in real terms), according to data centralized by the ...

Report: Without sustainable fiscal consolidation, it is not realistic for Romania to hope to quick accession to the euro zone

Monday, August 29, 2022

Joining the euro area is a priority for Romania and meets consensus in the political class, but high deficits and the fragility of the external balance represent major obstacles to entry into the MCS2 in the immediate perspective and then the accession itself, reveals the Convergence analysis report "Romania - MONITOR euro area" no. 10/2022, Coordinated by academician Daniel Daianu.  Without sustainable fiscal consolidation it is not ...

BVB Group reports 3.32 million RON in net profit on Q2, six times higher vs Q2 2021

Monday, August 29, 2022

 Bucharest Stock Exchange (BVB) Group obtained a net profit of 3.32 million RON in the second quarter, up 6 times compared to Q2 2021, and an individual net profit of 4.71 million RON, up more than 3 times from Q2 2021, according to a report by BVB.BVB Individual operating revenues in Q2 2022 recorded an increase of 44% compared to Q2 2021, from 5.91 million RON to 8.49 million RON, driven by trading revenues higher by 58%, on the background of significant public offerings ...

Banca Transilvania Group, approx 1.05 billion RON net profit, during first 6 months

Monday, August 29, 2022

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   The consolidated net profit of Banca Transilvania Financial Group was approximately 1.05 billion RON in the first half of this year, a slight increase compared to 1.02 billion RON in the same period last year, of which the bank's profit was 907 million RON, also up from 901 million RON in the same period last year, according to a press release sent on Friday.Subsidiaries and equity investments contributed over 139.5 million RON to the profitability of the BT ...

Bank of Cyprus concludes exit from Romania

Monday, August 29, 2022

Bank of Cyprus liquidated its activities in Romania by selling its last portfolio of nonperforming loans and real estate worth roughly EUR 147 mln.   The assets were acquired by the APS group in a transaction that was signed in May 2022 and finalized on August 24 of the same year, after a review by the Competition Council, the authority charged with ensuring a normal competitive environment for businesses in Romania.   Bank of Cyprus sold its ...

Banca Comerciala Romana approves 80pct more loans to SMEs

Monday, August 29, 2022

  Banca Comerciala Romana (BCR) granted, in the first semester of this year, 1,654 loans, in the total amount of 1.4 billion lei, within the lending programmes with the state guarantee dedicated to SMEs, recording an increase of 80% compared to the similar period in 2021, informs the bank through a press release sent on Wednesday.The growth was sped up by the IMM Prod programme, which, in less than a month since it became operational, registered over 180 ...

OTP Bank Romania joins Femeia Manager 2022-2027 Program

Monday, August 29, 2022

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OTP Bank Romania announces the partnership with the governmental program Femeia Manager 2022-2027, implemented through the Ministry of Entrepreneurship and Tourism. The program provides for a non-reimbursable financial aid from the state up to a maximum of 200,000 lei, which can represent a maximum of 95% of the eligible expenses (including VAT for non-paying companies) related to the project.   The SMEs will be able to obtain non-reimbursable funds of ...

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