Financial
February 15, 2016 10:11
Alro, the biggest aluminum producer in Central and Eastern Europe finalized a 137 million dollar revolving loan approval with a bank syndicate consisting of Raiffeisen Bank International, Raiffeisen Bank România, UniCredit Bank, OTP Bank, Eximbank, Garanti Bank, Intesa Bank and Banca Transilvania. The measure was approved by the Alro Slatina shareholders in late 2015 in order to refinance a previous 120 million dollar loan, released by the European Bank for Reconstruction and Development (EBRD), in 2010. Alro ensures the loan with their immovables, mortgages for security of personal property, for their civil rights for damages caused by insurance policies, personal stocks and shares of Alum and Conef, also owned by Alro....more »
February 05, 2016 11:38
Banca Transilvania has purchased a portfolio consisting of performant loans, granted by the Bank of Cyprus in Romania to some retail customers. The transaction will be finalized at the end of February this year and, as a result, it will increase the retail customers database of Banca Transilvania. Thus, the Bank continues its’ acquisitions on the local market, subsequently to the taking over and integration of Volksbank Romania in 2015....more »
January 28, 2016 09:11
bpv Grigorescu Ştefănică offered advice on one of the most recent transactions in the financial technology (FinTech) sector on the European stage. The transaction involved a funding of EUR 8 million obtained by the German company Mambu, one of the most dynamic providers of banking software. bpv Grigorescu Stefanică represented the investment fund Acton Capital Partners, that together with CommerzVentures, provided an infusion of capital for Mambu in a series B funding round. ...more »
December 08, 2015 11:26
The representatives of the Romanian IT company Life is Hard officially opened the trading session of the Bucharest Stock Exchange (BVB), on Tuesday, December 8, 2015, marking the debut of the first software developer on the AeRO market. Life is Hard is the developer of the most important software platform for insurance brokerage and comes on AeRO with an anticipated market capitalization of almost RON 6.9mn (EUR 1.5mn). Via the 24Broker.ro application there were subscribed polices of EUR 160mn in 2014, which is a 30% market stake of all intermediations performed by insurance brokers....more »
December 05, 2015 07:31
President Klaus Iohannis promulgated the law concerning deposit guarantee schemes and the Bank Deposit Guarantee Fund, the Presidential Administration reports cited by Agrepress. The main novelties refer to recognizing two administration regimes for bank deposit guarantee schemes, regulating the law of protective institutional systems and contractual schemes concerning guarantees, (...) regulating the procedure of official recognition of privately-managed deposit guarantee schemes by the National Bank of Romania as the authority designated to supervise such deposit guarantee schemes; introducing the option of deposit guarantee schemes from various European Union member states merging together; imposing an explicit supervision regime on continual bases by the National Bank of the activities of the privately-managed deposit guarantee schemes officially recognised in Romania....more »
November 12, 2015 11:55
A number of Romanian companies that have used EU funds will soon have to return most or all of the money they utilized. ...more »
November 10, 2015 13:09
According to EUROSTAT, Romania has seen the greatest growth in terms of retail trade in September of 2015 compared to the same period of 2014......more »
November 06, 2015 14:35
During this particular period, when companies are in the middle of the budgeting process for the following year , the state aid event was a great opportunity to get an overview on this incentive and learn more about financing investments on non-reimbursable funds through the State Aid Schemes for 2014-2020 in Romania .
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November 05, 2015 16:44
MasterCard has recently introduced the contactless card payment system for Vending Zone's O'Fresh vending machines and has subsequently seen much better results than originaly expected, as 30 percent of consumers opted for this method of paying....more »
October 28, 2015 16:45
On the 27th of October 2015, the Romanian Government approved, changes which are to be applied to the New Fiscal Code, which will enter into force starting January 2016....more »
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