Loading page...

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

Subscribe|Login

Financial & Banking

Assets of optional pension schemes over 2.2 bln lei on 31 May 2019

Monday, July 1, 2019

Assets held by optional pension schemes amounted to over 2.21 billion lei on 31 May 2019, up 18.1 percent YoY, according to the data released by the Financial Supervisory Authority (ASF).Government securities account for the highest share, with 1.245 billion lei (56.34 percent), followed by shares with 489.293 million lei (22.13 percent). Corporate bonds ranked third with 208.163 million lei, or 9.41 percent of the total assets.According to the ASF ...

Alpha Bank Romania’s first covered bond issue listed on Bucharest Stock Exchange

Monday, July 1, 2019

Alpha Bank Romania listed this week on the Bucharest Stock Exchange (BCE) its inaugural EUR 200 million euro-denominated covered bond issue, a first for the financial and banking sector in Romania. The bond, which has a five-year maturity and pays a floating rate coupon, is backed by prime Romanian residential mortgages and is rated Baa2 by Moody’s. The transaction attracted strong investor interest from both local and ...

Lower House passes amendments to debt discharge law

Monday, July 1, 2019

190701102634votdeputati_465x215.jpg

The Chamber of Deputies adopted on last Wednesday the bill amending the Law on debt discharge by selling off property in order to pay off loan liabilities, which provides, among others, that the 'datio in solutum' is automatically approved if the borrower's indebtedness is at least 20 percent above the maximum indebtedness rate set by the National Bank of Romania (BNR).The bill cleared the Lower House by a vote of 171 to 94 and 11 abstentions.The bill ...

Mandatory private pension funds had assets worth 53.41 billion lei in May, up 24.18 pct

Monday, July 1, 2019

The mandatory private pension funds had assets worth more than 53.41 billion lei, on May 31, 2019, up 24.18 per cent against the same month a year before, according to data provided by the Financial Supervisory Authority (ASF).Government bonds hold the highest share among these assets, of 31.58 billion lei, 59.14 per cent respectively. Next are the shares, with 10.279 billion lei (19.25 per cent). Corporate bonds are ranked third with 4.1 billion lei, 7.68pct of ...

BVB's Tanase: Bond trading, entering unprecedented diversification

Monday, July 1, 2019

The bond segment is entering a stage of unprecedented diversification for the local capital market as investors who have had access to corporate, municipal and government bonds so far can trade the first mortgage bonds, Bucharest Stock Exchange (BVB) CEO Adrian Tanase told a conference on last Wednesday."The bond segment is entering a stage of unprecedented diversification for the local capital market. Investors who have had access to corporate, municipal and ...

Erste Group prepares EUR 230 mln provision following court decision that hit its Romanian savings and mortgages bank

Monday, July 1, 2019

Austrian banking group Erste announced that it will provision up to EUR 230 million as a result of the decision of the Supreme Court in Romania that severely affects the business of BCR Banca pentru Locuinte, its local savings and mortgages bank. ”Despite this unique negative ...

Competition Council OKs Leumi Bank Takeover By First Bank

Monday, July 1, 2019

The Competition Council has authorized the takeover of Leumi Bank Romania ...

Companies cut savings in bank deposits on negative real interest rates

Monday, July 1, 2019

Romanian companies reduced their savings in bank accounts in May on low incentives as financial institutions offer negative real interest rates. The amount of deposits declined by 0.2 percent month-on-month in May but rose by 9.1 percent year-on-year, to RON 336.6 billion (EUR 70.9 billion). Companies’ RON bank deposits declined by 0.7 percent while forex deposits dropped by 2.5 percent month-on-month as banks pay negative ...

AmCham Romania president: OUG No.114 has led investors to believe anything is possible in Romania

Monday, June 24, 2019

190624095528uJpdYYB.JPG

The provisions of OUG No. 114 have led investors to believe that anything is possible in Romania and that the rules may change during the game, president of the American Chamber of Commerce in Romania (AmCham Romania) Ionut Simion told a press conference on Thursday."Ordinance No. 114 didn't necessarily determine companies to quit Romania, but it has induced into business decision makers the idea that anything is possible in Romania and that the rules can change ...

Insurance market up 7.4% in Jan-Mar

Monday, June 24, 2019

190624095626insurance_word_cloud_collage_healthcare_450w_668490229.jpg

The volume of premiums underwritten by Romanian insurance companies in the first three months of this year increased by 7.4% compared to the same period last year, to RON 2.71 billion (EUR 570 million), according to the financial markets regulator ASF. The market is still dominated by the general (non-life) insurance business, a segment that holds a weight of 79%. At the same time, the trend toward stronger life insurance segment continued during the ...

Raiffeisen Romania pours EUR 3 mln in 83 start-up projects

Monday, June 24, 2019

Lender Raiffeisen Bank has picked for financing 83 Romanian start-ups in the second edition of the “factory by Raiffeisen Bank” program. They will receive grants totaling over EUR 3 million. Compared to the first edition, the number of winning projects and the total amount of funding have tripled, the bank announced in a press release. The 83 start-ups in this second edition are active in the sectors of services ...

Oracol Xor Romanian Cryptocurrency with transaction via phone, presented at Romania Blockchain Summit

Monday, June 24, 2019

190624095744D86irEdXoAAFVCy.jpg

Two Romanian entrepreneurs launched Friday within the "Romania Blockchain Summit" event, held at the Palace of Parliament, the Oracol Xor Cryptocurrency, which allows an innovative trading model only by using the mobile phone without Internet connections."This project, started two years ago, together with another Romanian partner, it was launched at a level of initial offer on June 1 and we already have applications from four continents. The main advantage for ...

Eximbank buys Banca Romaneasca from Greece’s NBG

Monday, June 24, 2019

Eximbank, a Romanian state-owned bank, has secured a deal to acquire Banca Romaneasca from the Greek group NBG for an amount of EUR 250-350 million. National Bank of Greece was forced to sell Banca Romaneasca due to troubles on its domestic market and failed to close a transaction with OTP Bank last year due to Romanian central bank’s opposition. Eximbank and J.C Flowers, who bought Piraeus Bank, entered the final phase of ...

ANAF to use new app to verify individuals’ fiscal situation

Monday, June 24, 2019

Romania’s tax agency ANAF is currently developing an app that will analyze the fiscal situation of individuals according to several tax risk criteria, ...

Ilinka Kajgana to be BCR’s new Chief Risk Officer starting January 2020

Monday, June 24, 2019

Banca Comerciala Romana will have a new Chief Risk Officer as Ilinka Kajgana will take over the position starting January 1, 2020. Currently in charge of Erste Bank Austria’s Strategic Risk Management, she will replace Michael Beitz, who is retiring from his professional activity after more than 30 years at Erste Group. “We are delighted to welcome Ilinkai Kajgana, a strategic vision manager and relevant risk management manager in Erste ...

Banca Transilvania becomes largest bank in southeast Europe

Monday, June 24, 2019

Romania’s Banca Transilvania is now the largest bank in the entire southeast Europe region by assets, according to SeeNews’s TOP 100 SEE Banks, economica.net reports. In second place is a Croatian bank, followed by two other Romanian banks, BCR and BRD. The five biggest banks in SEE accounted for 25 percent of the total assets of the top 100 lenders at the end of 2018, as the sector has continued to ...

Market for motor third party liability insurance advances 4.65pct in Q1 2019

Monday, June 24, 2019

The total value of RCA motor third party liability insurance premiums underwritten in the first three months of 2019 neared 970 million lei (over 200 million euro), up 4.65pct from Q1 2018, according to a press statement released by the Financial Oversight Authority (ASF).The total value of the RCA premiums underwritten in the first three months of 2019 neared 970 million lei, with the remainder of A10 class (1.022 billion lei) representing carrier's liability ...

Sustainable businesses should become mainstream in coming decades

Monday, June 24, 2019

Leonie Schreve, ING’s global head of sustainable finance, tells Business Review about the concept of sustainable finance, the lender’s involvement in this field, and how this approach will help companies to develop a sustainable business and be increasingly competitive in the future. What are the main international trends in sustainable finance? Banks have a major role to play in supporting ...

BNR Governor Mugur Isarescu speech at the ECB conference: Resilience to global headwinds? CESEE responses to a changing trade and financial landscape

Monday, June 17, 2019

* Session "Responses to monetary policy and financial shocks" Ladies and gentlemen, The two keynote speakers shared with us insightful thoughts about the consequences of monetary policy and financial shocks and about the responses of CEE countries. My intervention ...

BNR: Balance of payments and external debt – April 2019

Monday, June 17, 2019

In January - April 2019p, the balance-of-payments current account posted a deficit of EUR 2,306 million, compared with EUR 1,665 million in January - April 2018. The deficit on trade in goods widened by EUR 1,273 million, the surplus on services income decreased by EUR 34 million, the deficit of the primary income balance decreased by EUR 817 million, and the surplus of the secondary income balance decreased by EUR 151 ...

Premium News

Daily

Friday, July 19, 2019

Financial & Banking

Monday, July 15, 2019

Economic

Tuesday, July 16, 2019

Companies

Wednesday, July 17, 2019

Energy & Environment

Thursday, July 18, 2019