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 »

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 »

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 »

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 »

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 »

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 »

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 »

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 »

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 »