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Financial & Banking
Raiffeisen Group’s results in Romania for first 9 months: solid growth across all business segments
Monday, November 4, 2024
Raiffeisen Bank continues to redefine the banking experience in Romania. The results of the first 9 months of the year support personal financial planning performance through Raiffeisen Smart Finance tablet, as well as significant developments in daily banking activities. The bank continued investments to develop easy, intuitive, and secure digital experiences for customers’ interactions with the bank. The new 100% digital flow in the Smart Mobile banking app has led to ...
Romanian investor is aged under 40 years and saves through ETFs
Monday, November 4, 2024
The Romanian investor is under 40 years old and saves through exchange-traded funds (ETFs) and investment plans, according to a study conducted by XTB Romania for October 31, World Savings Day."The most used tools through which investors plan their savings are ETFs and investment plans, which reflects their growing interest in diversifying their portfolios. The approach suggests that Romanian investors in XTB's portfolio see investments in international ...
Monetary indicators - September 2024
Monday, October 28, 2024
According to Central Bank data, at end-September 2024, broad money (M3) amounted to RON 698,237.5 million, up 0.7 percent month on month. In year-on-year comparison, broad money rose by 9.0 percent (4.2 percent in real terms). At end-September 2024, loans to non-government sector granted by credit institutions increased 1.3 percent (1.0 percent in real terms) from August ...
Romanian banks to get an additional €500 million in financing under new EIF guarantee agreements
Monday, October 28, 2024
EIF reaches deals with seven banks to bolster business competitiveness and sustainability Agreements to improve financing terms for SMEs including lower interest rates InvestEU Member State Compartment in Romania is supporting sustainable growth, as a national priority European Investment Fund’s (EIF) ...
EIB Investment Survey 2024: More than 60% of European companies have invested in climate mitigation and adaptation
Monday, October 28, 2024
EU businesses lead way in investments in climate mitigation and adaptation, with 61% having already invested and 53% planning to do so. Use of advanced digital technologies on the rise as 74% of European firms embrace advanced technologies to enhance competitiveness. Faced with trade shocks, firms are investing in more resilient and secure supply chains. Companies in the European Union weathered ...
Mandatory private pension funds had assets of 149.95 billion RON in September
Monday, October 28, 2024
Mandatory private pension funds had assets worth 149.95 billion RON at the end of September 2024, up 28% compared to the level recorded at the same date in 2023, according to statistics of the Financial Supervisory Authority (ASF)."Investments by privately managed pension funds were 94% in Romanian assets, most of which were denominated in RON. A large part of the Romanian instruments are represented by government securities or shares listed on the BVB," says ...
Optional pension funds, up almost 27pct in September
Monday, October 28, 2024
Optional pension funds had assets worth 5.54 billion lei at the end of September, up 26.5% compared to the same date last year, according to a Financial Supervisory Authority (ASF) report."Most investments were made locally (96%), with the majority denominated in lei (89.4%)," the report said.The value of contributions transferred in September was 63.37 million lei, while the average contribution was 163 lei.Government securities accounted for ...
Middle-class Romanians show doubled interest in trading financial markets for long-term income in 2024
Monday, October 28, 2024
Romanians from the upper middle class are increasingly interested in becoming traders, being eager to learn how to trade on financial markets to multiply their long-term income. Their interest in trading increased 2 times in 2024 compared to last year, but only 2 out of 10 applicants are admitted to the trading training program. At the same time, the number of women interested in increasing long-term income is growing spectacularly, so that 25% of the participants in ...
Raiffeisen Bank Romania’s Private Banking Division Reaches Milestone of 1 Billion Euros in Investment Products
Monday, October 28, 2024
Raiffeisen Bank Romania’s Private Banking Division has reached the milestone of 1 billion euros in investment products. Early last year, the Raiffeisen Private Banking Division also took over the coordination of the Premium Invest client segment, managing personal assets of at least 60,000 euros. These clients now have access to dedicated services, a wide range of financial products, and high-level investment expertise through a new team of personal ...
Raiffeisen Bank launches My Financial Mission game in Romania
Monday, October 28, 2024
Raiffeisen Bank launches in Romania the My Financial Mission game, to prepare young people between the ages of 11 and 15 to understand and use complex financial concepts, such as money management, responsible financial planning, online security and the role of banks in keeping money safe, according to a bank statement.To present these concepts in an interactive and engaging way, the game proposes four interconnected scenario modules, developed on the Minecraft Education platform, ...
BVB's Tanase: Real estate needs higher representation on the stock market
Monday, October 28, 2024
The real estate sector is very much underrepresented on the Romanian stock market, at about 2%, given that the sector has an important contribution to the country's gross domestic product and should be included in savings portfolios, Adrian Tanase, CEO of the Bucharest Stock Exchange (BVB) told a specialist event on Tuesday."In the capital market, we want to have as many Romanians as possible who save their money in the right way - and we want the Bucharest Stock Exchange to ...
New bank loans in Romania up 28pct eight months into 2024
Monday, October 28, 2024
Banks in Romania granted personal and corporate loans to the tune of almost RON 114 billion in the first eight months of 2024, up 28% year-on-year, according to data gathered under #Dreptullabanking.ro campaign conducted by banks in Romania.The value of new personal and corporate loans in the first eight months of 2024 made up 27.9% of the August 2024 balance of non-governmental credit. The balance of non-governmental credit, which totalled RON 407.89 billion at the ...
UniCredit Report: 2025 Food Price Hikes, Taxes To Rise, Consumption To Slow
Monday, October 21, 2024
This year the growth of the economy will be slower than estimated at the beginning of the year, in 2025 food will be more expensive, and there might be an increase in VAT by two percentage points but not earlier than the middle of next year, according to a report by UniCredit Bank. “We are downgrading our 2024 growth forecast to 1.7% due to the poor performance in 1H24 and a slower recovery in the EU than we had anticipated, but we are ...
Visa And Raiffeisen Bank Launched The Visa Signature Card, A Premiere In Central And Eastern Europe
Monday, October 21, 2024
Visa and Raiffeisen Bank have launched for the first time in Central and Eastern Europe the Visa Signature card (debit and credit), expanding exclusive benefits for super-premium cardholders in the Romanian market. This initiative reinforces both companies’ commitment to providing innovative financial products and services, offering clients significant advantages and an enhanced experience with Visa Premium cards. Made from 99% recycled ...
TOKEN secures authorisation from NBR and becomes a payment institution
Monday, October 21, 2024
Token Payment Services has announced that it obtained its authorisation from the National Bank of Romania (NBR), allowing the company ...
Romania's banking industry's solvency indicators well above EU average, yet financial intermediation lagging behind
Monday, October 21, 2024
Romania's banking industry has some of the best solvency indicators in Europe, well above the EU average, but on the other hand, Romania is bringing up the rear as far as financial intermediation is concerned, executive president of the Romanian Banks Association (ARB) Florin Danescu told the "Banking Forum" conference on Monday."The Romanian banking industry's solvency, liquidity, coverage, loan loss provision indicators are among the best in Europe, far above the European ...
Instant mobile payment service RoPay operational as of Oct 14
Monday, October 21, 2024
The new RoPay system, which allows users to perform instant mobile phone payments in accordance with the National Payment Scheme, is operational as of Monday, interbank settlement manager Transfond announced in a release.The first banks to join are CEC Bank and Libra Internet Bank, whereas BRD Societe Generale, ING Bank Romania, BCR and Banca Transilvania are in advanced stages of the system's implementation, as they are slated to roll out RoPay this year or during ...
Fidelis Bond Issue Sets Record with RON 3.5bn and 26,000 Orders
Monday, October 21, 2024
The Ministry of Finance (MF) raised over RON 1.5 billion and nearly EUR 387 million (totaling over RON 3.46 billion – EUR 697.2 million) through its fifth primary offer for government bonds targeting retail investors (FIDELIS), conducted via the Bucharest Stock Exchange (BVB) systems this year. “A new edition of FIDELIS concluded with an outstanding result: 6,500 lives saved by donor-investors. From the bottom of my heart, I thank all ...
Minutes of the monetary policy meeting of the National Bank of Romania Board on 4 October 2024
Monday, October 14, 2024
Publishing date: 11 October 2024 The National Bank of Romania Board members present at the meeting: Mugur Isarescu, Chairman of the Board and Governor of the National Bank of Romania; Leonardo Badea, Board member and Deputy Governor of the National Bank of Romania; Eugen Nicolaescu, Board member and Deputy Governor of the National Bank of Romania; ...
Annual Seminar on Financial Stability Issues jointly organized by National Bank of Romania and the International Monetary Fund
Monday, October 14, 2024
The theme of this year's event was "On financial (in)stability and systemic risks in a world with high uncertainty and multiple disequilibria" For the past eighteen years the National Bank of Romania (NBR) in cooperation with the International Monetary Fund (IMF), has been organizing the seminar on financial stability issues. This year’s event took place on 3-4 October 2024 at the NBR Training Center in ...