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Financial & Banking
OTP Bank Romania's Q1 consolidated net profit at RON 2 ml
Monday, May 13, 2024
OTP Bank Romania's Q1 consolidated net profit was RON two million, down 88 percent year-over-year, the financial institution said in a release on Friday.The result was influenced by the lower revenues compared to the previous quarter, the higher operating expenses, and the new tax introduced in the banking sector in 2024, which requires the bank to pay an additional 2 percent of turnover. Consequently, the payable tax is now in excess of RON 13 million compared to RON ...
iBanFirst study: The 5 critical challenges of CEE companies expanding globally based on insights from the region’s pioneering global businesses
Monday, May 13, 2024
- IMF projecting a 2.8% GDP growth for Romania, and 3.1% GDP growth for Emerging and Developing Europe overall - surpassing the 1.7% of advanced economies, CEE is becoming a critical region for international business expansion. - As pioneering global businesses in CEE mature, they share challenges such as managing regional brand perceptions, accessing capital, managing local talent, understanding diverse consumer ...
First Bank to be taken over by Intesa Sanpaolo Bank
Monday, May 13, 2024
The Competition Council authorized the transaction by which Intesa Sanpaolo SpA intends to take over First Bank, according to a press release from the competition authority.According to the institution, Intesa Sanpaolo SpA is active mainly in the financial-banking field, being the parent company of the Intesa Sanpaolo group. The Intesa Group is present in Romania through its Romanian subsidiary, Banca Comerciala Intesa Sanpaolo Romania.First Bank is a credit ...
CEC Bank continues to support Romanian entrepreneurs in 2024 through governmental SME Plus Programme
Monday, May 13, 2024
CEC Bank supports Romanian entrepreneurs and reconfirms its long-term commitment to the Romanian economy also in 2024 as well, by providing subsidized interest loans through the government's SME Plus Programme, the bank announced on Tuesday."We have the necessary expertise and experience to be able to identify the best solutions for our clients to access these loans under the advantageous conditions of the Programme," said Ramona Ivan, director of National and Foreign ...
EIB: Advancing sustainable finance in Central, Eastern and South-Eastern Europe
Monday, May 13, 2024
The European Investment Bank (EIB) released the extensive research conducted by the Vienna Initiative working group on climate change and financial stability, entitled Greening the financial sector: A ...
BCR Group, net profit of RON 620 million in first quarter of 2024
Monday, May 13, 2024
BCR Group recorded a net profit of RON 620 million (EUR 125 million) in the first quarter (Q1) of 2024, up 10.1% compared to 563 million RON (EUR 114 million) in the same period of 2023, due to an improved operational performance, supported by a higher volume of business with clients, informs the bank on Tuesday in a statement.The operating result improved by 20.3% to 918 million RON (185 million euros) in Q1 2024, from 763 million RON (155 million euros) in Q1 2023, on the ...
Over a million ING customers gained financial security via NN insurance, receiving over 25 million euros
Monday, May 13, 2024
NN Romania and ING Bank Romania have supported over 1 million customers to benefit from financial protection through solutions developed as part of the strategic partnership started 10 years ago, including life, health, job loss and loan insurance. In the situations covered, customers who needed their insurance or their families have received a total of 25 million euro in benefits to date. “Starting this year, the insurance portfolio developed together with ING ...
Garanti BBVA launches GIA chatbot to streamline customer interactions
Monday, May 13, 2024
Garanti BBVA, one of Romania’s most dynamic banks, reaffirms its commitment to digitization by launching the state-of-the-art GIA chatbot, designed to enhance customer experience and simplify support services. The GIA virtual assistant, with a friendly appearance, is available on all devices (smartphone, tablet, or desktop) and can respond to customer inquiries in two languages, Romanian and English, ...
The Ministry of Finance listed at the Bucharest Stock Exchange Fidelis government bonds of almost RON 3.2bn
Monday, April 29, 2024
The Ministry of Finance (MF) attracted RON 1.27bn and EUR 383.6mn through five issues of government bonds for retail investors (Fidelis), the largest amount raised by the Romanian State through this type of securities. Blood donors bought Fidelis government bonds worth over RON 266mn, at an interest rate of 7% p.a. Through the 16 offers held since August 2020, the Ministry of Finance attracted almost RON 29.5bn (EUR 6bn) from the retail ...
Vista Bank supports green investments: financing of €13.9 million to Alive Wind Power One
Monday, April 29, 2024
Vista Bank Romania granted to the company Alive Wind Power One, part of the Premier Energy PLC Group, an investment loan in the amount of 13.9 million euros. The purpose of the facility is to finance the purchase of a wind power park located in Drânceni (Vaslui county) with a total installed power of up to 18 MW. Georgios Athanasopoulos, CEO Vista Bank, said on the occasion of the signing: “We are glad to grant this credit facility to Alive Wind Power ...
The Joint Initiative on Circular Economy to provide €16 billion to circular projects by 2025
Monday, April 29, 2024
At the World Circular Economy Forum 2024, the European Union’s largest public promotional banks and institutions — Bank Gospodarstwa Krajowego (BGK — Poland), Caisse des Dépôts Group (CDC — France), including Bpifrance, the French national investment bank, Cassa Depositi e Prestiti (CDP — Italy), Instituto de Crédito Oficial (ICO — Spain) and KfW (Germany) — and the European Investment Bank (EIB) announced that they had exceeded ...
Bucharest Stock Exchange launches the new edition of the program dedicated to Romanian entrepreneurial companies
Monday, April 29, 2024
Bucharest Stock Exchange launched a new edition of the program dedicated to promoting Romanian entrepreneurial companies, which will be called BVB Arena from this year onwards. The transformation that the program undergoes reinforces the mission of Bucharest Stock Exchange to position itself as the main financing channel for Romanian companies and to promote companies that contribute to the development of the local economy All details about the BVB Arena and ...
Kearney Retail Banking Radar 2024: Retail bank cost-income ratio drops in 2023 and profit per customer rises
Monday, April 29, 2024
Leading global consultancy Kearney has released the sixteenth edition of its annual ...
Vienna Insurance Group confirms highly successful 2023 financial year
Monday, April 29, 2024
In its reports covering the 2023 financial year, published today, Vienna Insurance Group (VIG) has confirmed its preliminary figures communicated on 12 March 2024: strong growth across all segments and lines of business, considerable profit growth and a clear positioning as the number one in the CEE region. As a group that comprises more than 50 insurance companies and pension funds across 30 countries, VIG counts on local ...
tbi bank doubles the limit for interest-free instalment payments to 2,000 lei for Easter in the tbi app
Monday, April 29, 2024
tbi bank, one of the leading challenger banks in South East Europe, stays close to its customers during the Easter holidays with flexible payment solutions and doubles the maximum amount that can be used for shopping with payment in 4 interest-free installments via the mobile shopping app. Until 12 May, customers can make purchases worth up to 2,000 lei from more than 1,500 online shops present in the app, in a simple and fast experience, which they can pay ...
NN Romania Sets Guinness Record for Largest Human Umbrella Image, Symbolizing Customer Financial Protection
Monday, April 29, 2024
NN Romania has achieved the GUINNESS WORLD RECORDS title for the largest human image of an umbrella. The record symbolizes NN's care for people's financial protection and its efforts for a better future through life, health or home insurance and mandatory and voluntary private pensions. "Through everything we do, at NN we have the power to change lives. We offer people solutions for protection in unexpected situations and a better financial future, ...
Minutes of the monetary policy meeting of the National Bank of Romania Board on 4 April 2024
Monday, April 22, 2024
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 Deputy Governor of the National Bank of Romania; ...
Over 1 billion euros invested in Romania by EBRD over past 30 years
Monday, April 22, 2024
Romania has used funds from the European Bank for Reconstruction and Development (EBRD) of more than one billion euros for investments over the last 30 years, and the amount could reach up to 7 billion euros, Victoria Zinchuk, EBRD director for Romania, said on Thursday at the 7th edition of the Critical Infrastructure Protection Forum (CIP Forum), as part of the Digital Innovation Summit Bucharest (DISB) 2024.The EBRD has so far provided the largest amount ...
Romanians registered on crypto-asset platforms, two to three times more than investors on Bucharest Stock Exchange
Monday, April 22, 2024
Romanians registered on crypto-asset platforms are two to three times more than the 178,000 investors registered on the Bucharest Stock Exchange, Alexandru Petrescu, president of the Financial Supervisory Authority (ASF), said on Wednesday at the 7th edition of the Critical Infrastructure Protection Forum (CIP Forum), part of Digital Innovation Summit Bucharest (DISB) 2024."This phenomenon is also recorded in other countries. I used to have discussions with ...
Revolut releases in Romania its first ever loan refinancing solution
Monday, April 22, 2024
Digital bank Revolut on Wednesday released a loan refinancing solution, for the first time globally, on the Romanian market.The first Romanian clients have already been invited by the digital bank to apply for the unsecured personal loan with refinancing.The lending products are offered by Revolut Bank, an entity licensed in Lithuania that carries out banking operations in the European Economic Area (EEA).At the same time, to mark ...