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 »

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 »

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 »

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 »

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 »

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 »

The South African investment group NEPI (New Europe Property Investment) has run an equity raising of some 80 million euro through an accelerated book build, funds that will be used to support its future development  and potential acquisition opportunities within Romania and the broader Central Eastern Europe region, according to an informing sent to the Bucharest Stock Exchange....more »

BCR, BRD – Groupe Societe Generale, Raiffeisen Bank and UniCredit Tiriac Bank are going to establish the Council of Employers in Romania’s Banking Sector (CPBR), an entity intended to promote its members’ interest in their relations with the authorities, Mediafax informs. The registration procedures have already been initiated, the corresponding documents being submitted to the Bucharest Court, hence it is expected to be completed in the first half of the year – by the end of June 2014....more »

Hidroelectrica continues reducing its financial liability after refunding the remaining balance of a short-term loan worth 80 million euro granted in 2009 by Alpha Bank. According to the company, last week, it also closed an investment loan of 100 million euro contracted in 2011 from the European Bank for Reconstruction and Development, without drawing under the credit agreement....more »

The Board of Romania’s Central Bank, BNR, decided on March 28, to keep the monetary policy rate at 3.5 percent per year, following successive drops which lead to this historic low. According to a press release, the other decisions took during ...more »