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Financial & Banking

Romanian Minister Wants to Regulate Bitcoin and Other Cryptocurrencies

Monday, December 18, 2017

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* Ilan Laufer, Romanian Minister of Business, Commerce, and Entrepreneurship Environment, says that Bitcoin is a challenge for the banking system and regulation might be a solution, cryptovest.com reads. Ilan Laufer, Romania’s Business, Commerce, and Entrepreneurship Environment Minister, says that while he believes in cryptocurrencies, he also believes that this space should be regulated in the country. “I ...

Treasury Programme of government bonds is due to set off in 2018

Monday, December 18, 2017

The Treasury Programme of government bonds isssuance for the population is due to set off in 2018, following the completion of the procedural and operational framework, reads a press release of the Public Finance Ministry (MFP).The new programme provides the possibility for individuals who own treasury bonds turned into deposits at the State Treasury to use the amounts corresponding to their redemption in view of subscription in the Treasury ...

Intesa Sanpaolo finalizes the migration to take over the operations of Veneto Banca in Romania

Monday, December 18, 2017

Intesa Sanpaolo has finalized the migration for the transfer of certain assets and certain liabilities from the former Romanian branch of Veneto Banca, including its 19-agencies network, to the newly-established Intesa Sanpaolo SPA Torino Bucharest Branch. As a result of the transfer, Intesa Sanpaolo SPA Torino Bucharest Branch has acquired a portfolio of loans and all the deposits of Veneto Banca in Romania. Furthermore, the employees of Veneto Banca ...

Citi appoints Ivan Vrhel as general director of Citi Romania

Monday, December 18, 2017

Citi announced the appointment of Ivan Vrhel as general director of Citi Romania, keeping at the same time the current responsibilities as director of Citi Commercial Bank division for SMEs. In his new role, Vrhel will be responsible for the elaboration and implementation of local strategy of the bank, as well as for an efficient management of risks and controls. Also he will coordinate the relation of the banks with corporate clients, public ...

FinMin Misa: national currency rate may rise next year above the level of 4.55 lei / euro

Monday, December 18, 2017

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 The national currency rate may rise next year above the level of 4.55 lei / euro, set in the construction of the 2018 budget, says Minister of Public Finance Ionut Misa. "We are talking about rising inflation and about a trend, including at the level of the European Union in terms of inflation. The established exchange rate is based on the analysis of the National Prognosis Commission, given also the economic growth and taking into account the uptake of ...

ING Bank becomes broker on the Bucharest Stock Exchange

Monday, December 18, 2017

ING Bank becomes broker on the Bucharest Stock Exchange (BVB) following a decision adopted on Monday by the Board of Governors, reads an announcement released on the BVB website. "Following the decision of the Board of Governors of the Bucharest Stock Exchange (BVB) from December 11, 2017, ING Bank N.V. Amsterdam Bucharest Branch was granted the quality of Participant to the trading system of the BVB on the regulated spot market and registration with the ...

Romania will start borrowing from the population on a monthly basis

Monday, December 18, 2017

Romania’s Finance Ministry will start selling government securities to the population every month starting January next year. It previously announced that it would launch this program in the fall of 2017, romania-insider.com informs. Romanians will be able to take part in this program if they open an account at the Treasury, where they can deposit money. The account will be used for ...

Competition Council investigates 25 banks and non-banking financial institutions and leasing companies

Monday, December 18, 2017

Competition Council investigates 25 banks and non-banking financial institutions and leasing companies, as well as professional associations and unions in financial services, and it is one of the biggest actions of the institution. The investigations were developed during two sessions, regarding possible sensitive commercial information exchanges between competitive companies on financial leasing market and consume loan, as well as possible ...

BNR:Balance of payments and external debt – October 2017

Monday, December 18, 2017

Accordin to a press release sent by Central Bank – BNR- in January - October 2017, the balance-of-payments current account posted a deficit of EUR 5,302 million, compared ...

Remarks by Vice-President Dombrovskis at the ECOFIN press conference

Monday, December 11, 2017

Brussels, 5 December 2017 Thank you, Toomas. I would like to thank you and your team for all the work that you have done during the past six months. The Estonian Presidency has managed to make progress on many challenging files and keep them high on the agenda. You conclude your Presidency with several landmark decisions on tax. A decision was made by Member States today on the list of non-cooperative tax ...

PayPoint Romania’s transactions up by 6.6 pct to 38.8 million in S1

Monday, December 11, 2017

PayPoint Romania’s transactions went up year-on-year by 6.6 percent to 38.8 million in the first semester of the financial year 2017-2018, with evolutions in all payment segments of the portfolio, business-review.eu reads. After closing the reference period in October, PayPoint announced the finalization of acquisition process of Payzone S.A. Mugur Dogariu, managing director PayPoint Romania ...

BNR representative against the idea of  caps on interests for loans: it is not part of the logic of market Economy

Monday, December 11, 2017

In connection with the legislative proposal through which the interests to loans for the population could be limited to at most 50% over the key interest of BNR Daniel Daianu, member of the Board of Central bank - BNR stated on Friday that the measure is not part of the logic of market economy. ‘Interests represent, in essence, the price of the loan, they reflect the creditation conditions and they depend, among other ...

Leader Team Insurance Broker announces a British investment from  Londongate Group

Monday, December 11, 2017

Leader Team Insurance Broker announces a British investment from Londongate Investment and Management Group, a press release sent to ACTMedia informs. Londongate is an UK-based company with more than 18 years of experience in the insurance market being developed in Europe, Asia, Africa and the Middle East, and from this year decided to entering into Romanian market. The two companies started working together back in 2016 when Leader Team was looking ...

Garanti Leasing signs loan agreement for EUR 15 mln with European Fund for Southeast Europe

Monday, December 11, 2017

Garanti Leasing, part of Garanti Romania, has signed a loan agreement of EUR 15 million with the European Fund for Southeast Europe (EFSE), business-review.eu reads. The facility is meant to increase access to financing for local micro and small enterprises and individual entrepreneurs. This is the second time Garanti Leasing partners with EFSE. Previously, the two institutions have signed an agreement in 2014, ...

Voinea on National Bank of Romania's report on financial stability

Monday, December 11, 2017

The National Bank of Romania's report on financial stability pinpoints five risks, of which three moderated but rising risks, one of them being the straining of domestic macroeconomic balances through slippages and uncertainties in the budget fiscal policy, Deputy Governor of BNR Liviu Voinea stated. "From the date of the previous report, May 2017, financial stability has kept strong but we notice the maintenance and accumulation of certain vulnerabilities, ...

EBRD to help Romania develop priority infrastructure projects

Monday, December 11, 2017

The European Bank for Reconstruction and Development (EBRD) said on Friday that it is committed to work with the Romanian authorities to develop priority infrastructure projects in the country, seenews.com informs. During a working visit to the EBRD headquarters in London, Romania's transport minister Felix Stroe discussed with EBRD managing director for infrastructure, Jean-Patrick Marquet, about the urgent need to develop the country's ...

Bucharest Stock Exchange reached 88 issuers at the end of last month

Monday, December 11, 2017

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The Stock Exchange reached 88 issuers at the end of last month, after five companies had listed on the Main Market in the past 12 months, which is a performance for the local stock exchange, President of the Board of Governors at the Bucharest Stock Exchange (BVB) Lucian Anghel stated. "The Bucharest Stock Exchange kept on accelerating at full throttle this November as the stock market witnessed two listings of shares worth a total of 64 million euro and 1.2 ...

Individuals with arrears exceeding 30 days dropped 1.56 per cent in October

Monday, December 11, 2017

Number of individuals with arrears exceeding 30 days, with the banks and non-banking financial institutions, dropped 1.56 per cent in October, compared with the previous months, down to 669,023, as shown by the National Bank of Romania (BNR). These people had cumulated arrears worth more than 7.53 billion lei. The most part of the amount was expressed in lei and euro, 2.99 billion in lei and 3.11 billion lei in euro respectively. By delay category, the ...

BNR: financial assets held by non-profit institutions serving households, down by 8.7% year-on-year

Monday, December 11, 2017

The financial assets held by non-profit institutions serving households registered a total value of 9.4 billion lei at end-2016, down by 8.7% year-on-year, shows a report of the National Bank of Romania (BNR). "The value of assets in the cash and deposits category increased by 12.3% in 2016, having reached 5.7 billion lei at end-December, accounting for 60.4% of the total financial assets of the sector. The largest share in the total of such instruments was ...

Norwegian group to buy EUR 270 mln bad loans from Raiffeisen Bank Romania

Monday, December 11, 2017

Norwegian group B2 Holding is in negotiations to acquire a bad loan portfolio worth EUR 270 million from Raiffeisen Bank Romania, according to market sources, romania-insider.com informs. The acquisition price is estimated at about EUR 30 million, bank representatives told local mergers & acquisitions ...

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