Financial
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 »
April 30, 2014 13:20
Banca Transilvania has posted a gross profit of 123.5 million lei (net profit is about 103.4 million lei), 23 percent higher in comparison with the figures corresponding to Q1 in 2013, with total assets coming to almost 33 billion lei....more »
April 30, 2014 12:06
Banca Comerciala Romana ended the first quarter with a net profit of 1 million lei (about 200.000 euro), while in Q1 last year the bank posted a net loss of 10.2 million lei (2.3 milllion euro), according to a financial report released today. Although, there was a decline in total assets by 6.8 percent to 65.8 billion lei (some 14.76 billion euro) compared to March 31, 2013, BCR maintains leading market share by assets. ...more »
April 29, 2014 11:56
The Extraordinary General Meeting of Shareholders of Fondul Proprietatea (FP) yesterday approved the secondary listing on the London Stock Exchange, as previously recommended by Franklin Templeton, the Fund’s manager. By this initiative which should be carried out by the end of the year, FP aims at broadening the foreign investor base, increasing demand, as well as expanding coverage of investment banks or brokers....more »
April 28, 2014 12:31
Moody’s Investors Service has changed the outlook on Romania’s Baa3 government bond rating to stable from negative following improved fiscal and current account metrics and lower risks to growth and balance of payments from Euro area in 2013, also affirming the P-3 short term rating on government bond, according to a press release....more »
April 22, 2014 11:26
Banca Transilvania has a new shareholding structure, with its majority capital becoming Romanian, after Bank of Cyprus sold last Friday, April 18, nearly 10 percent of its stake – about 220 million shares, according to a notification posted on...more »
April 11, 2014 16:00
The first two months of the year have seen a 35.6 percent year-on-year advance in terms of foreign direct investments (FDI) in Romania, totaling 282 million euro, according to a report released by Romania’s Central bank (BNR). ...more »
April 09, 2014 16:30
After a year during which the trade deficit kept narrowing, the latest report released by the National Institute of Statistics (INSSE), shows that the first two months of the year recorded a higher trade deficit compared to the similar period in...more »
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