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Financial & Banking

Government approves Romania's withdrawal from IIB, IBEC

Monday, May 30, 2022

 The government has approved draft laws on Romania's withdrawal from banks with Russian capital, namely the International Investment Bank and the International Bank for Economic Cooperation, Finance Minister Adrian Caciu said."Basically, we respect the commitment we have made to start the steps to withdraw from these two banks and we are in coordination with the other member countries of the two financial institutions. At what the International Bank of ...

Uniqa Asigurari, Uniqa Asigurari de viata, 2.1 million euros net profit, in first three months

Monday, May 30, 2022

Uniqa Asigurari and Uniqa Asigurari de viata have managed a cumulated net profit of 2.1 million euros during the first three months, going up by 3.4% when comparing to the same interval of 2021, according to IFRS, quoted by a company release.Also, the total volume of gross premiums subscribed by the two companies, during the first trimester, was almost 27 million Euro, according to the IFRS, thus marking a leap of 7%, when comparing to the same period of the ...

Visa and Western Union kick-off new partnership in consumer banking with the launch of WU+ in Romania and Germany

Monday, May 30, 2022

Visa and Western Union announce a new partnership in Germany and Romania, with the launch of WU+, the new integrated digital banking and international money transfer app. WU+ app customers will be able to open a digital bank account and pay across all channels with their Visa Debit card. Western Union, through its partnership with Visa, a global leader in payment technology, is enabling its customers to enjoy the benefits of a unique consumer banking ...

The Central Bank establishes the Payments Committee

Monday, May 30, 2022

The National Bank of Romania Board decided to establish a Payments Committee. The Committee shall have an advisory role and shall support the NBR Board in fulfilling its statutory tasks of promoting and monitoring the smooth functioning of payment systems and instruments in Romania, as well as those related to the authorisation and supervision of payment services and instruments.   The Committee shall have the following ...

Minutes of the monetary policy meeting of the National Bank of Romania Board on 10 May 2022

Monday, May 23, 2022

Issued on Friday, 20 May 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 Board and First Deputy Governor of the National Bank of Romania; Leonardo Badea, Board member and Deputy Governor of the National Bank of Romania; Eugen Nicolaescu, Board member and ...

The internal flows of companies in the financial-banking industry can be affected by the rapid pace of legislative novelties

Monday, May 23, 2022


The internal flows of the companies in the financial-banking industry may be affected by the rapid pace of the legislative novelties, the growth of the number of fiscal reports, digitization of the fiscal administrations, and the intensification of the exchange of information between the Romanian fiscal authorities and those of other countries, said the specialists present at the Tax Forum, organized by EY Romania.The review of ...

CEC Bank reports 54.2 million RON net profit, in first trimester

Monday, May 23, 2022

CEC Bank registered an estimated, unaudited profit of 54.2 million RON in the first trimester of 2022, according to a press release sent to AGERPRES.According to the quoted source, the bank continued to consolidate its position on the market and registered an increase in assets to up to 50.4 billion RON, 19% higher than the first trimester of last year, over the average of assets from the banking system (11.9%)."Despite the challenges during the pandemic context and ...

EIB Group to strengthen impact of RRF investment across Romania

Monday, May 23, 2022

New investment to enhance business financing, climate action and digital investment across Romania under the European Union's Recovery and Resilience Facility (RRF) will be strengthened by technical and financial support provided by the European Investment Bank and European Investment Fund confirmed in Bucharest this week, the European Investment Bank (EIB) informs in a press release on Wednesday.'The European Investment Bank Group is committed to supporting economic ...

Romania’s economy grows 6.5% in first quarter, but pace may not last

Monday, May 23, 2022


Romania’s economy posted a surprising 6.5% growth rate in the first quarter, but economists predict a significant slowdown for the rest of the year, euractiv.com reads. Romania’s GDP grew 6.5% in the first quarter of 2022 compared with the same period of 2021, the statistics institute said in a flash estimate Tuesday (17 May).   Against the previous quarter, the GDP growth was 5.2%, coming after a considerably lower ...

Instant Factoring and TechVentures Bank are associating for Romanian businesses

Monday, May 23, 2022

Instant Factoring, the first online micro-factoring fintech in Romania, that is dedicated to small and medium companies and microenterprises, and TechVentures Bank, the Romanian universal bank with a tradition of 13 years on the market, are partnering to support SMEs, but also any other company that has difficulties in managing the cash flow or that wants concrete development solutions.     ”The partnership between Instant Factoring and TechVentures Bank ...

Euroins Romania: The time to pay for car repairs continues to be fast: 5 days is the average compensation time

Monday, May 23, 2022


  Euroins Romania Asigurare-Reasigurare SA, the most important player in the Romanian insurance industry, announces new positive results in terms of the time required to process claims and prompt payment of claims in which are not recorded human casualties   On average, in Q1 2022, Euroins paid the claims in just 5 days, 25% faster than the payments in the last part of 2021.   This indicator has been steadily improving over the last ...

Ministry of Finance pays over 8% on 4-year bonds

Monday, May 23, 2022

Romania’s Ministry of Finance reopened a bond issue due in June 2026 and issued RON 366 mln (EUR 67 mln) of new papers - over 20% more compared to the target size of the issue - at a yield of ...


Monday, May 23, 2022


  Fondul Proprietatea (hereinafter “The Fund”) published today its financial results for the first three months ended on 31 March 2022 and would like to share the following highlights:   The Fund’s share price registered a strong performance in the first three months reaching a price of RON 2.11 at 31 March 2022, a record high value which implied a trading discount of 4.26%, based on the latest NAV available ...

BNR Board decisions on monetary policy

Monday, May 16, 2022

The Board of the National Bank of Romania (BNR), having convened for the meeting of 10 May 2022, decided:   to increase the monetary policy rate to 3.75 percent per annum, from 3.00 percent per annum, as of 11 May 2022; to raise the lending (Lombard) facility rate to 4.75 percent per annum from 4.00 percent per annum and the deposit facility ...

Balance of payments and external debt – March 2022

Monday, May 16, 2022

In January - March 2022p, the balance-of-payments current account posted a deficit of EUR 4,676 million, compared with EUR 2,736 million in the same year-ago period.   The breakdown shows that the deficit on trade in goods widened by EUR 1,557 million, the surplus on services increased by EUR 72 million, the primary income balance recorded a deficit of EUR 287 million, compared with a surplus of EUR 152 ...


Monday, May 16, 2022


Developments in inflation and its determinants   The annual CPI inflation rate continued its strong upward trend in 2022 Q1, increasing by 1.96 percentage points to reach 10.15 percent in March (from 8.19 percent in December) in a context of global broad-based inflationary pressures.   Behind this rise stood mainly ...

Citizens of Great Britain and Ukraine spent the most money in Romania in the last two months

Monday, May 16, 2022

The citizens of Great Britain and Ukraine, who entered Romania in March and April, were the foreigners who spent the most in our country, making, together, over 123 thousand card transactions (123,581), worth almost 16.5 million lei (16,431,491 lei).   According to an analysis conducted by Global Payments, a world leader in providing technological payment services, with over 50 billion global annual ...

Inflation reached 13.8% in April

Monday, May 16, 2022

The annual inflation rate increased to 13.76% in April 2022, compared to April 2021, according to data released on Wednesday by the National Institute of Statistics (INS). Non-food goods increased by 16.35%, food by 13.54%, and services by 7.11%. The highest food prices were recorded for potatoes (over 40%), and for energy, gas almost doubled its price ...

First Bank had a RON 57 million net profit in 2021

Monday, May 16, 2022

First Bank reported for 2021 a net profit of RON 57.1 million, a significant increase compared to the same period the previous year. The bank’s net operating revenues increased by 7% compared to 2020, reaching the value of RON 354 million. At the end of 2021, the total assets of the bank exceeded RON 6.9 billion, while the equity reached almost RON 800 million and the sources attracted from the customer amount to RON 5.2 billion. The total capital adequacy ratio ...

Romania, the most dynamic market at regional level by number of SMEs registering on the platform

Monday, May 16, 2022

After 8 months since its launch on the Romanian market, the local office of iBanFirst, one of the largest providers of foreign exchange and international payments in Europe, has recorded the highest rate of onboarding on the fintech platform in the region, with over 200 active SMEs in its portfolio.   On the back of the war in Ukraine, the number of Romanian companies opening accounts on the trading platform has doubled in ...

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