Loading page...

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

Subscribe|Login

Financial & Banking

Romgaz, Banca Transilvania and BRD meet the eligibility criteria FTSE Global All Cap Index

Monday, September 30, 2019

The global supplier of indicators FTSE Russell announced on Thursday that the shares of the Romanian companies Romgaz, Banca Transilvania and BRD-Groupe Societe Generale meet the eligibility criteria FTSE Global All Cap Index on 28 June 2018, says the press release.In parallel, FTSE Russell showed that the capital market of Romania will be classified from  the statute of Border market to that of Secondary Emerging market starting with September ...

Deposits of non-government resident customers up 1.1pct in August

Monday, September 30, 2019

Deposits of non-government resident customers went up in August 2019 by 1.1pct against July 2019, up to RON 341,693.3 million and by 8.7pct (4.6pct in real terms) vs August 2018, the National Bank of Romania (BNR) informs in a release.The RON-denominated household deposits decreased by RON 12.7 million to RON 124,557.2 million month on month and moved up 8.8 percent (4.7 percent in real terms) year on year. The RON-denominated deposits of other ...

Balance of non-government loans, up 0.8 pct in August

Monday, September 30, 2019

The balance of non-government loans granted by credit institutions increased in August 2019 by 0.8 percent (0.7 percent in real terms) compared to July 2019, to the level of 264.638 billion lei , according to a press release issued by the National Bank of Romania sent on last Tuesday.RON-denominated loans increased by 1 percent (0.9 percent in real terms), and whereas foreign currency-denominated loans increased by 0.3 percent when expressed in RON and by 0.4 ...

ASF fines two insurers for late compensation payments

Monday, September 30, 2019

Romania’s financial supervisory authority (ASF) fined local insurers City Insurance and Euroins with RON 50,000 (EUR 11,000) each for delaying the damage assessment in car accidents, which also led to delays in compensation payments to the injured parties. The two insurers control some 70% of the market of third-party car liability insurance (RCA). At the end of August, AutoCar, a local group consisting of three companies ...

ASF proposes amendments to secondary legislation to facilitate online investments

Monday, September 30, 2019

190930110621LOGO_asf.jpg

In its meeting on Tuesday, the Financial Supervisory Authority (ASF) Council approved and published on the Authority website for 20-day public consultation, a project that facilitates online investments. ASF President Leonardo Badea said: “The Financial Supervisory Authority has understood the need for financial markets to be in step with technological development. Therefore, we decided to amend certain legal provisions so as to facilitate online ...

BNR launches FinTech Innovation Hub project

Monday, September 30, 2019

The National Bank of Romania (BNR) announces the launch of the FinTech Innovation Hub project, a platform dedicated to dialogue with companies that develop innovative solutions of general public interest in the field of payment and financial services (FinTech), according to a release from the institution.The BNR specifies that this approach aims both to support the market development in the field of payment and financial services, as well as to align with the ...

Romanians borrow in RON but keep savings in hard currencies

Monday, September 30, 2019

Romanians speed up borrowing in local currency but move their savings into hard currency accounts, a prudent strategy that could be associated with lower confidence in the RON and worries regarding the economic situation. Bank deposits in RON have become less attractive during the last couple of years as a consequence of low – and real negative – interest rates, currency depreciation and high inflation rate. However, ...

Letter of Understanding with IBRD on down payment destined to Justice District submitted to Parliament for ratification

Monday, September 23, 2019

President Klaus Iohannis signed on last Monday the decree regarding the submission to Parliament for the ratification of the Letter of Understanding between Romania and the International Bank for Reconstruction and Development (IBRD) on the down payment for preparing "the Justice District" project.This letter was signed in Brussels on 30 May and in Bucharest on 6 June and aims for the IBRD to grant a 2.5 million US dollars for endorsing the preliminary activities ...

Supplementation and amendment of the Rules on determining the ROBID and ROBOR reference rates

Monday, September 23, 2019

190923112405bnr_pag_10_bogdan.jpg

The National Bank of Romania took steps to revise the Rules on determining the ROBID and ROBOR reference rates (hereinafter referred to as the “Rules"). Specifically, it envisaged: to harmonise the Rules, amid the developments in the EU-wide legal ...

Insurance market records solid growth in 2019

Monday, September 23, 2019

The insurance market has recorded a solid growth this year, overall and by segments, with insurance companies' solvency and liquidity levels being more or less the same as those recorded in 2018, according to the head of the Financial Supervisory Authority (ASF), Leonardo Badea."The data we have so far show a solid growth of the market, overall (+7.8 per cent), and also for a series of important segments that we usually refer to and which are among those that ...

BCR and Qualitance launch Casa Mea – the first digital platform in Romania for mortgages

Monday, September 23, 2019

Banca Comerciala Romana (BCR), in collaboration with Qualitance, has launched the first digital solution for mortgages that digitalizes and simplifies the process of buying a home, named Casa Mea (My House). All the required documents can be uploaded online by the client, directly in the application, from their phone or computer, which cuts the duration of the entire process by at least 50 percent. “The Casa Mea application is the most courageous ...

Romania ranks 18th in EU by amount of funding attracted through Juncker Plan for strategic investments

Monday, September 23, 2019

Romania has attracted EUR 720 million in funds through the European Fund for Strategic Investments (EFSI), also known as the Juncker Plan. The funds are expected to generate private investments worth EUR 2.95 billion, according to profit.ro. Romania ranks 18th among the 28 EU states by the value of funds attracted through the EFSI, behind countries like the Czech Republic and Hungary, but ahead of Slovakia and Bulgaria. France, Italy and Spain have ...

Banca Transilvania to buy back 15 million shares for rewarding employees

Monday, September 23, 2019

Banca Transilvania, the biggest lender in Romania by assets, plans to buy back 15 million shares, until the end of this year, to distribute them to its employees. The buyback price will be no higher than RON 4. The Banca Transilvania shares (ticker TLV) were trading at RON 2.39 on September 19. Considering this price, the bank would have to pay RON 36 million (EUR 7.6 mln) for the shares it plans to distribute to employees. The ...

Banks and fintechs facing cooperation challenge on Romanian market

Monday, September 23, 2019

European deals and funding activity in the fintech sector reached USD 3.3 billion in the first half of 2019, with some of the most dynamic startups in the field moving to launch in Romania. Meanwhile, regulatory challenges and growing competition for conventional banks, which are investing heavily in their digital operations, might see fintechs and lenders focus on cooperation going forward. Fintechs have been growing rapidly across the globe, ...

Gyula Fater (OTP Bank): We might be the only bank in Romania betting on the human touch

Monday, September 23, 2019

OTP Bank Romania plans to double its market share within the next five years, mainly by being more and more customer-centric, OTP Bank’s new CEO Gyula Fater told BR.  You are the new CEO of OTP Bank Romania, as of June. What is your experience and how have you found Romania – is it a good country for expats? Before everything else, it’s a beautiful country, I cannot wait to visit more of ...

Balance of payments and external debt – July 2019

Monday, September 16, 2019

According to Central Bank data, in January - July 2019p, the balance-of-payments current account posted a deficit of EUR 6,025 million, compared with EUR 4,859 million in the same year-ago period. The deficit on trade in goods widened by EUR 2,069 million, the surplus on services income increased by EUR 436 million, the deficit of the primary income balance narrowed by EUR 720 million, and the surplus of the secondary income balance decreased by EUR 253 ...

Two out of five households barely deal with their current spending

Monday, September 16, 2019

190916120442stock_photo_control_your_spending_concept_home_budget_and_money_1420102142.jpg

Approximately two out of five households (37.6pct) face with difficulty or great difficulty their current spending, and if considering those which barely deal with their daily spending one could reach 80.0pct of the total of the households, according to the National Institute of Statistics (INS)'s survey dubbed "Inquiry on life quality" carried out last year.On the other hand, one out of five households has no difficulty in dealing with their current spending, as ...

Tanase (BVB): First time when we have chance to be promoted to emerging market status

Monday, September 16, 2019

 Global index provider FTSE Russell will make the announcement on whether they will upgrade or not the Bucharest Stock Exchange (BVB) to emerging market status on September 26, and this is the first time when the BVB has a chance to be promoted, Adrian Tanase, the BVB CEO told a specialist forum on Friday."On September 26 FTSE will make the announcement on whether they will promote or not the Bucharest Stock Exchange. All I can tell you is that this is the ...

The inflation rate eases to 3.9 pct on cheaper food

Monday, September 16, 2019

Romania’s annual inflation rate declined to 3.9 percent in August, from 4.1 percent in July, as food prices slightly decreased in the last month of the summer. The rate registered in August is slightly above expectations (market consensus at 3.8 percent). Compared with August 2018, the prices of food products rose by 5 percent on average, while non-food products increased by 3 percent. The prices of services went up by 4.2 percent, National ...

BCR cuts fees charged on interbank payments in euro to SEPA countries

Monday, September 16, 2019

Banca Comerciala Romana (BCR) has cut, starting in September, the fees on interbank payments in euro in the European Community, bringing them in line with those applied for similar payments in lei, the bank informed in a Tuesday release.Thus, the fee charged by BCR for interbank payments in lei at the bank counter (15 lei for individuals and a maximum of 13 lei for legal persons, depending on the amount of the payment), as well as the one charged for internet ...

Premium News

Daily

Thursday, October 17, 2019

Financial & Banking

Monday, October 14, 2019

Economic

Tuesday, October 15, 2019

Companies

Wednesday, October 16, 2019

Energy & Environment

Thursday, October 17, 2019