The European Investment Bank (EIB) is lending up to 50 million euro to Garanti Bank, money that will be allocated to finance projects run by Small and Medium Enterprises, midcap companies and public sector entities in Romania. The loan is focused on fostering undertakings with positive impact on unemployment in the country....more »

Foreign direct investments (FDI) in Romania have seen an 8 percent increase in the first month in 2014 compared to January 2013, amounting to 244 million year, according to o report released by Romania’s Central Bank....more »

Fondul Proprietatea (FP) advises its shareholders to support a secondary listing of the Fund on the Specialist Fund Market (SFM) of the London Stock Exchange by the end of 2014....more »

The credit rating agency has affirmed Romania’s long-term IDR (Issuer Default Rating) at ‘BBB-‘ and local currency IDR at ‘BBB’, the outlooks being stable, a press release states. Similarly, the issue ratings on senior secured foreign and local currency bonds have been affirmed at ‘BBB-‘ and ‘BBB’, respectively. ...more »

The upward trend Nuclearelectrica has seen within the first nine months of the past year has been confirmed by the financial report the nuclear company released at the end of the last week and that shows a major improvement, especially in terms of profit which amounted to some 417.4 million lei, 17 times more than in 2012. However, these are preliminary results. ...more »

Following the loss of nearly 277 million euro in 2012, BCR has recorded a major advance last year, posting a profit of some 134 million euro on a significantly better operating result which balanced the costs related to risk provisions that are still high. Although there was a decline by 8.9 percent in total assets which dropped to around 15 billion euro, BCR has preserved its market share, remaining the leading bank in Romania....more »

In its probably most important year, given the successfully run IPO last fall, Romgaz recorded a lower profit compared to 2012, although the turnover has advanced....more »

Romanian International Bank will increase its equity by converting a 1.2 million euro worth subordinated loan and by granting a similar loan in the amount of 2 million euro. This increase is part of the development strategy of Getin Holding, the group which took over RIB and which aims to implement various changes within the bank, according to a news release....more »

Romania’s Financial Supervisory Authority (ASF) today decided to initiate the financial recovery procedure through special management for insurance & reinsurance company ASTRA. The company appointed KPMG to handle this procedure and provisory manage ASTRA, so as to financially reestablish it, ASF announces through a media release....more »

State-owned company Transelectrica increased by more than fourfold its profit last year, although the preliminary financial results show smaller revenues over 2012. Based on the report released yesterday by the power grid operator, the net figures indicate a net profit of 162.3 million lei for 2013, compared with some 34.5 million in 2012....more »