Central Bank Says Disconnecting Bank Tax from Money Market Rates Is Crucial
02.15.2019
Board members of Romania's central bank said it is essential that the country's new tax on banks' financial assets is disconnected from benchmark rates on the interbank money market rates such as the three-month Robor index.
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Fitch Ratings: Romania 2019 Budget Fails to Lift Fiscal Uncertainty 02.05.2019
Romania's draft 2019 budget targets a reduction in the budget deficit, but is based on optimistic assumptions and fails to clarify uncertainty over... more
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ASF Head: Romania Insurance Market Overshot RON10B Mark In 2018 02.05.2019
Romania’s insurance market grew 4.5% year-on-year in 2018, to over RON10 billion, according to unaudited data from the Financial Supervisory... more
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Romanian Government To Issue Household Bonds With Up to 5% Interest 02.04.2019
Romania's finance ministry will seek to borrow money from households instead of banks, with three new household bond issues with interests of up to... more
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Patria Bank Sells Batch Of RON502M Worth Of NPLs In Two Tranches To Kruk 02.04.2019
Lender Patria Bank, held by investment fund Axxess Capital, sold a batch of non-performing loans (NPLs) worth a total RON502 million to companies... more
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Romania Forex Reserves Drop to EUR31.922B in January 02.01.2019
Romania's foreign exchange reserves fell to EUR31.922 billion at the end of January from EUR33.065 billion at the end of 2018, central bank data... more
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Romania Seeks to Raise CEC Bank Capital By RON940M 02.01.2019
Romania's finance ministry plans to raise the share capital of state-owned CEC Bank by RON940 million, according to the 2019 state budget draft... more
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Banks’ Margin for Loans to Consumers in Romania Still High at 6%-7% in 2018 02.01.2019
Local banks had a high lending margin (the difference between the interest on new loans and on leu deposits) for retail customers of 6% to 7% in 2018. more
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Three-Month Money Market Rate Falls Slightly To 3.10% 01.29.2019
The three-month money market interest rate used to calculate interests for consumer loans in lei, inched down to 3.10% a year on Tuesday, from... more
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Garanti Bank, IFC Sign EUR55M Loan Agreement to Support SMEs, Energy Efficiency in Romania 01.29.2019
Lender Garanti Bank on Tuesday signed a loan agreement for EUR55 million with International Finance Corporation (IFC), a member of the World Bank... more
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Unicredit Bank: Romania May Have Trouble Keeping Budget Deficit Under 3% Of GDP In 2019-2020 01.28.2019
Romania is facing a difficult end of the economic and electoral cycles and political and fiscal risks will probably increase in 2019-2020,... more
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Romania Rejects All Bids for Sept 2031 Bonds 01.28.2019
Romania's finance ministry on Monday rejected all bids for treasury bonds maturing in September 2031 where it had sought to raise 400 million lei... more
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Fitch Affirms Banca Transilvania Rating at BB+ with Stable Outlook 01.28.2019
Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of Banca Transilvania at 'BB', with a Stable Outlook, as well as BT’s... more
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Tax or Depreciation? Leu/Euro Exchange Rate Casualty of War Between Banks and Finance Ministry 01.28.2019
The business sector in Romania is tensely waiting to see how the leu/euro exchange rate will go, after an exchange of harsh messages between the... more
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Patria Bank Sells NPLs Totaling RON331.5M to Kruk Romania 01.25.2019
Lender Patria Bank has sold a batch of non-performing loans totaling RON331.5 million to debt collector Kruk Romania, the bank said in a statement... more
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Romania Private Lending Grows 0.1% on Month in December 2018 01.25.2019
Private lending in Romania grew a marginal 0.1% (declined 0.02% in real terms) in December 2018 compared with November, to RON251.05 billion,... more
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Three-Month Money Market Rate Grows To 3.11% 01.25.2019
The three-month money market interest rate used to calculate interests for consumer loans in lei, grew to 3.11% a year on Friday, from 3.03% a year... more
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Banca Transilvania Boosts Share Capital By RON2.6M 01.23.2019
Romanian lender Banca Transilvania (TLV.RO) has increased its share capital by RON2.6 million to RON4.815 billion, following the conversion of 2.6... more
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Romanian Leu Tumbles to 4.7569 Units Vs Euro After Week of Losses 01.23.2019
The Romanian leu hit a new low of 4.7569 units against the euro Wednesday, losing 0.91% on the day, after seven consecutive days of hitting low... more
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Three-Month Money Market Rate Grows To 3.03% 01.23.2019
The three-month money market interest rate used to calculate interests for consumer loans in lei, grew to 3.03% a year on Wednesday, from 2.97% a... more
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Romanian Insurance Market Grows 2% in Jan-Sept 2018, to RON7.47B 01.22.2019
Romania's insurance market reported total underwritten premiums of RON7.47 billion in the first nine months of 2018, 2% higher than in the same... more
The lending rebound, the rise in interests and the improvement of portfolio quality helped Romania’s banking system post an
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Companies Bog’Art SRL Bucuresti, Construcţii SA Sibiu, Kesz Constructii Romania SRL Cluj and Porr Construct SRL Bucuresti have
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German Zeitfracht Group has joined the shareholding structure of low-cost airline Blue Air, holding 10% of the airline’s share
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Office building transactions in Romania reached the highest level of the last decade in 2018, of EUR957 million, according to the
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Chitila represents the future logistics hub of capital city Bucharest, for both warehouses and the light industrial production, in the
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The World Bank has revised its economic growth projections for Romania and now sees GDP growth at 3.5% in 2019 from 4.5% in its June
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Swiss giant Nestle, one of the largest players on the Romanian consumer goods market, will close its Romanian factory, located in the
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Fiscal instability is the main challenge for businesses this year, influencing investors' appetite for doing business in Romania,
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Central Bank: Banking Sector Has Limited Capacity to Sustain Current Profitability Long Term
The Romanian banking sector, which consists of 35 banks, in its present structure has a limited capacity to sustain the recent profitability over the long term, the central bank said in a report.
