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Financial & Banking

Almost 1000 retailers on the platform have chosen the tbi bank payment solution in the last two years

Monday, August 21, 2023

The economic context of the last two years has been supportive of constructive partnerships between tbi bank and major players, which have brought significant benefits to both retailers and consumers in a volatile economic context. In the last two years, almost 1000 retailers on the Gomag platform have chosen the tbi bank payment solution, more than 30,000 orders have been registered through the Buy Now Pay Later (BNPL) instrument, and the value of the ...

BNR Board decisions on monetary policy

Monday, August 14, 2023

In its meeting of 7 August 2023, the Board of the National Bank of Romania (BNR) 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 annum; to ...

Inflation goes down below 10pc for the first time this year

Monday, August 14, 2023

The annual rate of inflation decreased in July 2023 to 9.4%, from 10.3% in June, amid food goods price hikes by 16.24%, non-food goods by 4.25%, and services by 11.65%, according to the data of the National Institute of Statistics (INS), published on Friday. It is the first time in the last year that the inflation rate has fallen to a single digit.   “The consumer price index in July 2023 ...

OTP Bank Romania reports net profit of 183 million RON in S1/2023

Monday, August 14, 2023

OTP Bank Romania announces the financial results for the first half of 2023. The bank recorded a consolidated net profit of 183 million RON in the first semester of 2023, driven by higher operating profit and positive risk costs on loans.   Operating profit in the first six months of 2023 reached RON 120 million, up 39 percent over the same interval of last year, while net interest income jumped by 39 ...

Alpha Bank Romania first half 2023 financial results highlights

Monday, August 14, 2023

In an economic context with multiple challenges, Alpha Bank Romania remained a trustworthy partner of its customers and of the Romanian economy, while strengthening its position in the market: • The net loan portfolio grew 10% compared to the same period last year driven by the financing of legal entities – both large companies and SMEs; • Profit after ...

tbi Bank makes CASH zero accessible abroad, for Romanians in the Diaspora

Monday, August 14, 2023

The economic and social context this year is challenging for most Romanians, including those working abroad, as most costs have risen exponentially, due to inflation.   Financing needs remain the same or even increase in this context and consumers seek lending solutions that can help them access the money they need immediately and allow them to repay with minimum impact on the family budget. tbi bank ...

Banca Comerciala Romana, MoneyGram launch fast moneny transfer solution to Romanian and abroad

Monday, August 14, 2023

  Banca Comerciala Româna (BCR) has launched a new solution through which any person, regardless of whether he/she is a client of the bank or not, can receive and send money more simply and quickly, from and to over 200 countries, through the bank's multipurpose machines, the bank informs on Monday.According to the same source, the facility is already available at BCR multifunction machines (MFMs), based on a partnership with MoneyGram, ...

Deloitte study: Economic optimism recovering, but slower than post-financial crisis

Monday, August 14, 2023

  The confidence in the evolution of the economy is improving, after a 12-month decline following the Ukraine war, according to the latest Deloitte Central Europe Private Equity (PE) Confidence ...

BVB Group records RON 3.35 million in net profit on H1 2023

Monday, August 7, 2023

Bucharest Stock Exchange Group reported a net profit worth RON 3.35 million in the first half of this year, down 62 pct compared to the same period last year, according to a BVB report.BVB's individual net profit in the first half of 2023 was RON 3.72 million, down from RON 9.10 million in H1 2022, with a net margin of 29 pct.According to the report, BVB Individual's operating revenues in H1 2023 amounted to RON 13 million, down 29 pct compared ...

Raiffeisen Bank Romania And BCR Coordinated And Signed A EUR 550 M Syndicated Loan Facility To Ameropa Group

Monday, August 7, 2023

  Raiffeisen Bank Romania and Banca Comerciala Romana (BCR) have successfully signed a syndicated loan together as Coordinators and Bookrunners, providing a total financing of up to EUR 550 million to Ameropa Group – Romanian business lines, intended to support the working capital needs.   The syndicated facility was closed alongside ING Bank Romania, ...

Consumer Protection controls credit contracts issued between 2004 and 2010

Monday, August 7, 2023

 The National Authority for Consumer Protection (ANPC) has started, at the national level, an extensive campaign of detailed control of business operators in the banking system, regarding credit contracts, divided into several sections.According to a release from ANPC, the loan contracts issued between 2004 and 2010 will be checked first, until the entry into force of the Emergency Ordinance 50/2010, and then, in the subsequent stages, the other loan ...

Exim Banca Romaneasca Issues State Guarantees For Renewable Energy Projects

Monday, August 7, 2023

Exim Banca Romaneasca launched a new guarantee product in the name and on behalf of the Romanian state that facilitates access to finance for companies implementing investment projects in the field of renewable energy (wind, solar and geothermal energy, hydroelectric energy, biomass etc.).   The guarantee, which can cover up to 80% of the financing amount, is granted for new loans intended to cover ...

tbi bank extends partnership with Flanco, bringing BNPL to offline stores

Monday, August 7, 2023

Retail expansion in recent years has been driven by both online and in-store purchases, but inflation created a complicated economic and social environment, especially this year. In this delicate context, retailers are now trying to offer as many financing options as possible, in-store also. To help more customers benefit from the efficient financing tool Buy Now Pay Later, usually used in online shopping, in an offline environment, tbi bank has partnered with Flanco, one of ...

Study: More Romanians Save Money Every Month, 35% More Than Last Year

Monday, August 7, 2023

* 3 out of 10 Romanians manage to save money every month, more than last year. 5 put aside only a small amount and 2 out of 10 Romanians do not save at all.   The number of Romanians who manage to save a reasonable amount of money (between 20 and 50% of their income) each month ...

BRD Group results for H1 2023

Monday, August 7, 2023

Main commercial trends and financial indicators of BRD Groupe Société Générale  on June 30, 2023, at a consolidated level, according to the International Financial Reporting Standards (IFRS)   – Strong lending growth supported by corporate dynamic and retail resilience - corporate lending activity, printing high at +18% YoY, ...

Open Banking Technology Has the Potential to Reduce up to 80% of Companies’ Accounting Operations

Monday, August 7, 2023

Smart Fintech, the first third-party provider authorized by the National Bank of ...

BNR: Monetary indicators - June 2023

Monday, July 31, 2023

According to the National Bank of Romania (BNR) data, at end-June 2023, broad money (M3) amounted to RON 624,519.3 million, down 0.04 percent (or 0.4 percent in real terms) month on month. In year-on-year ...

BCR and Erste Group to finance the Cerealcom Group with 100 million euros

Monday, July 31, 2023

BCR arranged, together with Erste Group, a club loan financing for the Cerealcom Group in the total amount of 100 million euros, the bank informs in a press release.The financing will support the operation of a modern logistics base, but also the expansion of the acquisition base and the export of cereals. The credit also includes an accordion-type clause, which will allow the company to access a financing increase of 50 million euros.BCR and ...

Romanian capital market gains a new broker, the first one authorized by ASF

Monday, July 31, 2023

The Romanian brokerage company Investimental announces its official launch in the Romanian capital market. Investimental becomes the first brokerage firm to obtain authorization from ASF in the last 14 years, marking an important moment for the financial market in Romania.   “Starting today, we are an integral part of the Romanian financial ecosystem and will contribute to the development of the brokerage market in ...

Binance’s mid-year report shows a healthy crypto industry

Monday, July 31, 2023

Global cryptocurrency exchange platform Binance has released its semi-annual report detailing the state of the industry. Launched at the end of the first half of 2023, the 120-page report covers key verticals in the industry, including Bitcoin and layer-1s; layer-2s; stablecoins; DeFi; and NFTs. The analysis also examines gaming, metaverse, funding, and institutional adoption.   The comprehensive mid-year report reveals the ...

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