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Financial & Banking
Bucharest Stock Exchange, European bank release new corporate governance code
Monday, February 10, 2025
The European Bank for Reconstruction and Development (EBRD) has collaborated with the Bucharest Stock Exchange (BVB) in the development of a new code of corporate governance for a sustainable development of the Romanian capital market.The main changes in the Code of Corporate Governance and the schedule of the training for issuers and stakeholders, which is to start this March, were presented at a conference at the BVB ...
ECB agrees to renew framework arrangement to provide euro liquidity to BNR via repo line
Monday, February 10, 2025
The European Central Bank (ECB) has agreed to renew a framework arrangement to provide euro liquidity to the National Bank of Romania (BNR) via a repo line until 31 January 2027, the National Bank of Romania reports in a press release."Such repo lines help prevent tensions in international funding markets and undesired effects on financial market stability," reads the release.According to this arrangement, the BNR will be able to borrow up to EUR ...
Banca Transilvania Financial Group contributes to the financial integration between Romania and the Republic of Moldova
Monday, February 10, 2025
Banca Transilvania and Victoriabank announce significant benefits for the retail and corporate customers, which mean smaller operational costs and faster access to money: No fees applies for transfers performed between the two banks, in Lei, Euro, US dollars, Pounds Sterling and Swiss francs, regardless of their value and the channel through which the transactions are ...
Erste warns Romania needs further fiscal correction but downgrade risk remains low
Monday, February 10, 2025
Romania must implement an additional fiscal adjustment of 0.8–1.0 percentage points (pp) of GDP to meet its 2025 deficit target of 7% of GDP, according ...
Analysis: 5 stocks that could perform well in 2025
Monday, February 10, 2025
The US stock market continues to offer exciting investment opportunities across various industries. Analysts at Freedom24, the innovative trading platform connecting investors to the world’s leading stock exchanges, have identified 5 high-potential stocks poised for strong performance in 2025. These companies stand out for their solid fundamentals, innovative business models, and strategic positioning in high-growth sectors, making them attractive options for Romanian ...
tbi bank eyes new bond markets in Romania and Greece
Monday, February 10, 2025
tbi bank has announced its strategic plans for the bond markets in 2025, including potential MREL-eligible bond issuances in Romania and Greece, alongside Bulgaria. The bank aims to raise a total of EUR 60 to 80 million to support its rapid business growth from a regulatory perspective. The plans include an issuance in Bulgaria in Q1 2025, ranging between 10-20 million ...
FinMin Barna Sends Audit Corps to ANAF Over Nordis Case
Monday, February 10, 2025
Finance Minister Tanczos Barna told Digi24 that he will send the Control Body to ANAF for verification, after information appeared in the indictment of DIICOT prosecutors in the Nordis case that four tax inspectors had hidden irregularities found at the real estate company. He says that the four inspectors do not have any capacity in the case for now. “It is a very complicated situation ...
BRD Group, net profit down to 1.5 billion RON in 2024, net loan balance up 19 pct
Monday, February 10, 2025
The BRD Group posted a net profit of 1.524 billion RON in 2024, down almost 8% compared to the net result obtained in 2023, and reported a 19% increase in net loans balance."2024 was another solid year for BRD, which continued to deliver strong commercial performance across all business segments, posting solid growth in net loan balance, +19% compared to 2023. The corporate segment saw the highest growth of +29% year-over-year, while commercial performance ...
EU Commission Opens Infringement Against Romania Over VAT Rules
Monday, February 3, 2025
The European Commission decided on Friday to open an infringement procedure by sending a letter of formal notice to Romania, Belgium, Bulgaria, Greece, Spain, Lithuania and Portugal for failing to communicate to the Community Executive the measures for the full transposition of EU Directive 2022/542 regarding value added tax rates. EU member states had to communicate the full transposition of the ...
BET-TRN index grew by 15.5% in 2024, driven by heavyweights Banca Transilvania and OMV Petrom
Monday, February 3, 2025
The BET-TRN index, which recorded a total return of 15.5% in 2024, reflects a year shaped by both substantial individual contributions and notable underperformances. The first half of the year saw general growth for the index and the Bucharest Stock Exchange, driven by strong corporate earnings and positive sentiment across multiple sectors. However, the second half of the year was much more negative, influenced by energy market volatilities which drove weaker ...
Voluntary private pension funds (Pillar 3) attract over 133,000 new clients in 2024
Monday, February 3, 2025
Over 133,000 Romanians started saving for retirement in 2024 through voluntary private pension funds (Pillar 3), which is 40% more than in 2023, representing a historical record for the number of new clients attracted to the system in a single year, according to a press release from the Association for Privately Managed Pensions in Romania (APAPR).According to the quoted source, the total number of participants in the 10 voluntary pension funds reached ...
iBanFirst Romania reports a 75% increase in international transaction volume in 2024, to €1.38 billion
Monday, February 3, 2025
iBanFirst, a leading provider of forex exchange and international payments for businesses, present in 10 European countries, achieved remarkable growth in Romania during 2024, as Romanian businesses increasingly turned to digital solutions to power their international ...
Insurance company Hellas Direct announces local asset investment of EUR 68 mln.
Monday, February 3, 2025
Hellas Direct, a leading insurance company celebrating two years of operations in Romania, reaffirms its long-term commitment to the market by currently investing over €68 million in assets generated in Romania directly to the local market to strengthen its presence and expand its service offerings. This strategic move highlights the company’s confidence in Romania’s potential as a rapidly developing market and reinforces Hellas Direct’s ...
OMRO IFN issues new set of bonds worth Euro 1.56 million on BVB
Monday, February 3, 2025
OMRO IFN, as part of the Filbo group, alongside Filbo Pay S.A. and Easybill Digital SRL, a Romanian company specialised in microcrediting services and modern technological payment solutions, that creates an ecosystem dedicated to financing and integrated payment solutions designed for small entrepreneur, is listing today, 30 January, under the Multilateral Trading System of the Bucharest Stock Exchange (BVB), the third issue of corporate unsecured subordinated bonds ...
The new executive vice-presidents of Exim Banca Romaneasca take office
Monday, February 3, 2025
The executive management of Exim Banca Romaneasca is now led by Traian Halalai as Executive President, along with Lidia Stan and Codin Nastase, who assume their mandates as Vice Presidents of the bank following authorization by the National Bank of Romania. Thus, Lidia Stan becomes the new Executive Vice President responsible for retail activities and CFO, while Codin Nastase takes over as Executive ...
EIB Group achieves record results in 2024, targets €95 billion in investments for 2025
Monday, February 3, 2025
· The EIB Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024. · A record of nearly 60% of all EIB Group financing supported the green transition, climate action and environmental sustainability. · There was a sharp increase in higher-risk activities, with a record €8 billion committed ...
Revolut users in Romania, over one billion transactions in 2024, 58 pct more than in 2023
Monday, February 3, 2025
Romanians surpassed the 1 billion Revolut transactions threshold in 2024, 58% more than in 2023, with the total amount of card payments made for the entire year up by 57% to 9.7 billion EUR.According to a press release from the digital bank, sent to AGERPRES on Friday, a local user actually carried out, on average, 22 transactions per month with Revolut cards and application, showing a significant increase in the adoption rate of the services of the ...
S&P cuts Romania's credit ratings outlook to negative on fiscal worries
Monday, January 27, 2025
S&P lowered the outlook on Romania’s BBB- grade, the lowest investment level, to negative, the credit assessor said in a statement on Friday. It left the rating unchanged. Tanczos Barna, Minister of Finance, stated that the downgrade is a signal that Romania requires deficit reduction measures, a prudent budget, and a leaner state:“The measures agreed upon by the ...
Only 8pct of high income employees in Romania consider saving a priority
Monday, January 27, 2025
Employees in Romania do not show interest in financial education, given that only 8% of the people with high incomes, over 10,000 RON/month, consider saving a priority, while four out of ten Romanians say they use up to 90% of their monthly income, is the conclusion of a study published on Wednesday by the APSAP Training Centre.According to the research, 60% of Romanian employees say they are moderately satisfied with the way they manage their expenses, and ...
RAFINOR estimates 150 kilogram investment gold sales through the MAGNOR store network
Monday, January 27, 2025
Gold has been one of the most sought-after assets for centuries, and in the modern era, it has become a highly popular component of investment portfolios. A preferred asset for protection against economic risks, gold has delivered attractive long-term returns, increasing by approximately 8% per year over the past two decades. Since the end of 2023, the precious metal has experienced significant growth, consistently reaching new historical highs. In 2024, it was one of ...