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Patria Bank (ex- Carpatica) plans to reduce its share capital by 40 pc

patria-bank

Former Banca Comerciala Carpatica (BCC), which became Patria Bank as of May 1 following a merger, wants to reduce its share capital by 40 percent to RON 227.12 million, according to an announcement sent to the Bucharest Stock Exchange (BVB). ...

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Five Romanian banks to grant EUR 400 M financing for SMEs

SME Initiative

Five local banks – Raiffeisen Bank, ProCredit Bank Romania, Banca Comerciala Romana, Banca Transilvania and BancPost – are now part of the SME Initiative in Romania, to provide new financing for Small and Medium enterprises (SMEs) across the country, a ...

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BNR-EIB survey: Political and regulatory climate, the main short-term barrier to implementing investment

BNR-EIB survey

Romania still needs strong investment. Over the last three years, the investment was the right amount, only 12 percent of firms being finance constrained. However, the investment outlook in Romania is mixed. Political and regulatory climate is the main short-term ...

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Anca Rarau becomes Advisor to the BCR’s President

anca rarau

As of this July, Anca Rarau, currently BCR’s Marketing Director, will take over an Advisor position to President of BCR, Sergiu Manea, a press release informs on Monday. Along with this decision, on her request, Anca Rarau will relocate to ...

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A&D Pharma gets a ‘club loan’ of EUR 177 M

A&D Pharma

A&D Pharma, the largest pharmaceutical group in Romania, contracted a syndicated loan of over EUR 177 million from BRD-Groupe Societe Generale and UniCredit Bank, a press release informs. The funding is a ‘club loan’ and is granted for a period ...

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FDI – up to EUR 1.3 bn; current account deficit posts an increase of 56 pc in Q1

FDI

Foreign direct investment (FDI) in Romania totalled EUR 1,305 million (compared with EUR 1,054 million in January – April 2016), of which equity (including estimated net reinvestment of earnings) amounted to EUR 1,507 million and intercompany lending recorded a net negative ...

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Erste revised the forecast for Romania’s economic growth in 2017, to 5.1 pc

erste

Austrian Erste Group sees a growth of 5.1 percent in Romania this year, very close to Government estimates, and 3.9 percent in 2018, compared to 4.3 percent and respectively 2.8 percent previously. The revaluation comes after the good statistical results ...

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Greece’s Piraeus Bank to sell its units in Romania, media

Piraeus Bank

Piraeus Bank, Greece’s largest bank by assets, plans to sell its wholly-owned subsidiaries in Romania, Albania, Bulgaria, Ukraine and Serbia as part of its “Agenda 2020” strategy to reduce the foreign exposures, according to Greek online newspaper ekathimerini.com. “Our vision ...

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IFC grants Alpha Bank EUR 50 M to increase domestic mortgage lending

alpha-bank

IFC (International Financial Corporation), part of World Bank Group, is providing a EUR 50 million loan to Alpha Bank local subsidiary to support mortgage lending and help expand access to finance for prospective home owners in Romania, a press release ...

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