Financial
May 23, 2014 14:55
Upon validating the Country Partnership Strategy (CPS) for Romania for 2014-2017, the World Bank Group Board of Directors approved yesterday a 750 million euro budget support loan, the first of a series of such operations loans as per the new CPS, the Romanian Ministry of Finance announces. ...more »
May 21, 2014 13:02
During yesterday’s meeting, the Romanian Government approved an emergency ordinance and a government decision to eliminate 10 taxes and non-fiscal tariffs, while other 17 will be merged. For the remaining 65 there will be issued ministerial orders or decisions of the presidents of institutions to eliminate, so as the legislative measures come to effect by July 1, 2014, the Ministry of Public Finance announces....more »
May 19, 2014 11:23
After taking over Romanian International Bank (RIB) last year, the Polish group Getin Holding enlarges its business portfolio in Romania by acquiring the domestic division of Volksbank Leasing International, in a transaction which includes VB Le...more »
May 15, 2014 16:56
Foreign Direct Investments maintain the upward trend, recording a 30.1 percent advance year-on-year in the first quarter in 2014, amounting to 570 million euro, shows a report released today by the National Bank of Romania....more »
May 15, 2014 13:25
Rompetrol Rafinare yesterday posted the financial results for Q1 2014, indicating a consolidated turnover of 1.3 billion dollar, up by 48 percent year-on-year and a 9.3 billion dollar operating result compared to a negative value of 120,000 doll...more »
May 15, 2014 11:22
The economic advance continued in the first quarter of 2014 according to the “flash” estimates released today by the National Institute of Statistics (INSSE) which reveal a 3.8 percent growth of the Gross Domestic Product, compared to the same period last year, both for the unadjusted and for the seasonally adjusted series....more »
May 14, 2014 12:24
The leasing division of Garanti Romania has concluded a 5-year loan arrangement for a 7.5 million euro with the Black Sea Trade and Development Bank (BSTDB). Garanti Leasing will use the credit to support its lending operations in the SMEs (Small and Medium Enterprises) sector, is stated by a press release....more »
May 13, 2014 15:24
Following last year’s performance when OMV Petrom recorded a profit of over 4.82 billion lei – the biggest in history, the first quarter of 2014 has brought a decline in both revenues and profit. The company has today posted the financial results corresponding to Q1 showing sales revenues  of 5.3 billion lei, 9 percent below the value recorded within the same period of 2013, mainly due to lower sales volumes of crude oil, gas and electricity and a lower crude price environment. Net profit has also narrowed, dropping by 19 percent Year-on-Year – from 1.33 billion lei to nearly 1.08 billion lei....more »
May 07, 2014 12:40
Emerging Europe Accession Fund (EEAF) has finalized the acquisition of the majority stake, of over 98 percent, in Nextebank, the Romanian subsidiary of MKB Bank Zrt Hungary. The purchase agreement was signed on December 31, 2013 however the closing of the transaction was completed only upon receiving the approval from the National Bank of Romania (BNR), announces a media release....more »
May 05, 2014 16:37
The banking sector shows increasing optimism with regard to the coming period given that a major part of banks forecasts a growing demand for loans in both natural persons and businesses segments, while more than 80 percent of financial institutions anticipate an increase in lending activity as per the “Romanian Banking Barometer” conducted by EY Romania and the Romanian Banking Association (ARB). ...more »
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