Loading page...

Romanian Business News - ACTMedia :: Services|About us|Contact|RSS RSS

Subscribe|Login

Financial & Banking

NBR Board decisions on monetary policy

Monday, April 8, 2024

In its meeting of 4 April 2024, the Board of the National Bank of Romania decided:   to keep the monetary policy rate at 7.00 percent per annum; to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per ...

BRD And IFC Partner To Boost Sustainable Finance In Romania

Monday, April 8, 2024

BRD Groupe Societe Generale and IFC, a member of the World Bank Group, have closed a landmark synthetic significant risk transfer (SRT) transaction that will free up capital for BRD to boost the financing of impactful sustainability-related projects in Romania.   Under the transaction, IFC will provide a risk guarantee on an up to €700 million BRD portfolio of small and medium enterprise (SME) and ...

Investigation ‘Resilient Crime’: 22 arrests in raid against criminal organisation suspected of €600 million fraud involving NextGenerationEU funds

Monday, April 8, 2024

In the context of an international large-scale investigation led by the European Public Prosecutor’s Office (EPPO) in Venice (Italy), dozens of searches and seizures took place, and 22 arrests were made today in Italy, Austria, Romania and Slovakia, in a probe into an alleged criminal organisation suspected of defrauding €600 million from the EU’s Recovery and Resilience Facility (RRF) for ...

CITR Has Completed The Report On The Causes Of Euroins Bankruptcy

Monday, April 8, 2024

  CITR Bucharest SPRL, the judicial liquidator of Euroins, has completed the report on the causes of Euroins’ bankruptcy and identified a series of operational and fund management elements that led to bankruptcy.   “The preparation of the report on the causes is an essential stage in the bankruptcy procedure. On one hand, it concludes the stage of historical and contextual ...

Salt Bank: The first 100% Romanian neobank was launched

Monday, April 8, 2024

Salt Bank was officially launched on the market, marking the beginning of a new digital era. Differentiating itself from traditional banks, Salt Bank aims to be more than a bank: a 100% digital experience, adapted to users’ contemporary needs. With a clear vision of the future, Salt combines the financial stability of a bank with the agility of a FinTech, offering a new perspective on banking: safe but ...

EVOLUTION OF THE PRIVATE PENSION SYSTEM IN 2023

Monday, April 8, 2024

The private pension market in Romania reached, at the end of 2023, total assets worth RON 131.5 billion, up by 31.4% compared to the end of the previous year.   As a share of GDP, total private pension assets stood at around 8.5% at the end of December 2023, marking a positive development over recent years. In the last quarter of 2023 and for the year as a whole, the volatility of unit net assets of ...

EVOLUTION OF CAPITAL MARKET IN 2023

Monday, April 8, 2024

The local capital market recorded positive developments in 2023, with the total value traded on the regulated market of the Bucharest Stock Exchange (BVB) and on the Multilateral Trading System (MTF) reaching RON 38.04 billion, an increase of over 58% compared to the previous year.    The number of trades on BVB - on the regulated market and MTF - amounted to almost 1.98 million in 2023 and increased ...

EVOLUTION OF INSURANCE MARKET IN 2023

Monday, April 8, 2024

Insurance companies authorised and regulated by the Financial Supervisory Authority (ASF) wrote gross written premiums (GWP) of approximately RON 18.2 billion in 2023, an increase of 10% compared to the previous year.   The Romanian insurance market remains oriented towards general insurance, which accounts for 84% of total gross premiums written by insurance companies authorised and regulated by ASF, ...

Competition Council considers OTP group Romania takeover by Transylvania Bank

Monday, April 8, 2024

  The Competition Council analyses the transaction by which Transylvania Bank SA intends to take over OTP Bank Romania SA, the competition authority informs in a press release.   Transylvania Bank is the main company of Transylvania Bank Financial Group, which offers financial services in Romania, such as bank services, investment services, portfolio administration services and ...

The National Committee for Macroprudential Oversight meeting of 28 March 2024

Monday, April 1, 2024

The first meeting in 2024 of the General Board of the National Committee for Macroprudential Oversight (NCMO) was held on 28 March 2024.   During the meeting, Board members examined analyses and adopted measures concerning macroprudential policy and systemic risk, namely: (i) the regular analysis on the recalibration of the countercyclical capital buffer and (ii) the draft Annual Report of the National Committee for Macroprudential ...

Monetary indicators - February 2024

Monday, April 1, 2024

According to Central bank’s data, at end-February 2024, broad money (M3) amounted to RON 677,932.3 million, up 1.3 percent (0.5 percent inreal terms) month on month. In year-on-year comparison, broad money rose by 10.7 percent (3.3 percent in real terms).   At end-February ...

ING Think: Monitoring Romania

Monday, April 1, 2024

Our latest update does not bring material changes to our main views. Yet we highlight the overdue fiscal correction and persistent inflation as reasons for the National Bank of Romania to take its rate-cutting cycle slowly. Growth-wise, EU funds should continue to boost public investments, while private consumption will turn more supportive, ...

Quarterly consumer credit reference index down to 5.90 pct per annum

Monday, April 1, 2024

  The consumer credit reference index (IRCC), regulated by Emergency Ordinance (OUG) 19/2019, stands at 5.90% per annum, down from the one released three months ago, of 5.97% per annum, according to data published Friday by the National Bank of Romania (BNR).The index is calculated as the arithmetic average of daily interest rates on interbank transactions in the fourth quarter of 2023.According to OUG 19/2019, for loans granted in national ...

Credit Europe Bank Romania registered a net profit of 66.8 million lei in 2023

Monday, April 1, 2024

In 2023, Credit Europe Bank (România) S.A. kept fortifying its position in the local market. The bank made a net profit of 66.8 million lei in 2023, more than twice as much as in 2022, despite a modest reduction in assets. Additionally, the revenue from Credit Europe Bank Romania's credit card division, which has been instrumental in transforming the local banking industry through the years with CardAvantaj, amounted to 1.6 billion lei, a 13.5% increase ...

Patria Bank launches special package for women entrepreneurs

Monday, April 1, 2024

 Patria Bank is launching a special package for women entrepreneurs, which includes a series of tailored financial benefits to support women-led businesses, according to a bank release.The initiative to launch the "Patria Package for Women Entrepreneurs" complements Patria Bank's approach and reaffirms the bank's commitment to promote and support entrepreneurship in Romania and, in particular, businesses run or owned by ...

Ford Otosan Romania obtains EUR 435 million loan from banking syndicate

Monday, April 1, 2024

 Ford Otosan Romania, a subsidiary of Ford Otosan, has signed a seven-year credit agreement worth 435 million EUR with a banking syndicate led by Societe Generale and BRD, the bank said in a press release on Tuesday.The loan will help finance the next generation Ford Transit Courier and Ford Tourneo Courier, as well as the launch of the new Ford Puma, including all-electric versions of these models, at Ford's Otosan plant in southern Craiova."Our plant in ...

iBanFirst Forecast 2024: Romanian economy will grow by 2.7%, inflation will hover around 5% and RON/EUR cross will remain stable

Monday, March 25, 2024

In 2024, Romania's economy is expected to continue its growth trend, but at a more moderate pace. Public investment and private consumption are anticipated to drive a 2.7% GDP growth.   Inflation will hover around 5% at the end of this year and will only get back to the central bank’s target of 4 % in ...

Gross insurance premiums of over 18 bln RON in 2023, increasing by more than 10%

Monday, March 25, 2024

The insurance market grew by more than 10% in 2023, and the volume of gross written premiums exceeded 18 billion RON, the president of the Financial Supervisory Authority (ASF) Alexandru Petrescu said on last Thursday at the conference "Economic Trends 2024", organized by the European Women's Association."The markets that we regulate at ASF are stable and stability is the word I care about the most in my mandate. We have gross written premiums on insurance of over 18 ...

180,000 investors were at Bucharest Stock Exchange at end-2023

Monday, March 25, 2024

 About 180,000 investors were at the Bucharest Stock Exchange (BVB) at the end of last year, an increase of 50% compared to the previous year, 20% being investors in government bonds, and about 15,000 entered with the listing of Hidroelectrica, stated on Wednesday Cosmin Paunescu, head of the Prudential Supervision Service within the Financial Supervision Authority (ASF)."We ended 2023 with 180,000 investors, according to the Investor Compensation Fund, an impressive ...

CEC Bank reports 35% increase in assets in 2023, up to 83.5 billion RON

Monday, March 25, 2024

CEC Bank registered, last year, a 35% increase in net assets, up to 83.5 billion RON, and an estimated, unaudited net profit of 515.8 million RON, the bank informs in a press release."We laid the foundations of the financial group by acquiring the package of 99.993% of the share capital of the Rural Credit Guarantee Fund (FGCR), we maintained the pace of transformation and digitization and successfully issued a new package of bonds within the EMTN Multiannual Program. ...

Premium News

Daily

Friday, April 12, 2024

Financial & Banking

Monday, April 8, 2024

Economic

Tuesday, April 9, 2024

Companies

Wednesday, April 10, 2024

Energy & Environment

Thursday, April 11, 2024