Banks to be closed on December 25-26, January 1-2

banci program

Commercial banks will not work with the public during December 25-26, 2016 and January 1-2, 2017, with the exception of the outlets in malls. BRD-Groupe Societe Generale announces that on December 24, the banking units will work as usual for ...

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EUR 22 M from EIB to implement thermal rehabilitation of multi-family houses in Bucharest’s District 2


The European Investment Bank (EIB) is lending EUR 22 million to finance the second phase of the programme of refurbishment of multi-family housing in the municipality of District 2 that started in 2012, a press release informs. In total 95 ...

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High interest rates, guarantees and bureaucracy, companies’ main obstacles in getting loans


The main problems faced by the companies in Romania continue to be the high taxation, fiscal environment unpredictability and competition, as well as the access to finance, a survey on the access to finance of non-financial companies in Romania, carried ...

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Bancpost’s profit has halved at end-September


Bancpost, local subsidiary of Greek Eurobank group, registered in the first nine months of 2016 a net profit of RON 31.4 million, less than half of what the financial institution posted in the same period last year, RON 66 million, a ...

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Credit Europe Bank takes EUR 40 M loan to finance Romanian businesses


The European Bank for Reconstruction and Development (EBRD) is providing EUR 40 million financing, in three tranches, to Credit Europe Bank to continue supporting Romanian small businesses. “We are pleased to partner with Credit Europe Bank (Romania) in order to ...

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Over 90 M from EU, EIB and EBRD to build gas pipeline between Moldova and Romania

Dimitri Gvindadze (L), Head of the EBRD’s office in Chisinau, and Octavian Calmic (R), Moldovan Deputy Prime Minister and Economy Minister, at the signing of the loan agreement for the construction of Ungheni-Chisinau gas pipeline (ebrd.com)

The European Union (EU), the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) are providing a EUR 92 million financing package for the construction of a natural gas pipeline from Romania to Chisinau, in a ...

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FDI in Romania in January-October 2016, at 8-year record level


Non-residents’ direct investment (FDI) in Romania totalled EUR 3,736 million in the first ten months of the year, of which equity (including estimated net reinvestment of earnings) amounted to EUR 2,951 million and intercompany lending recorded a net value of ...

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Intesa Sanpaolo Bank will close down 3 of the 7 branches in Bucharest


Intesa Sanpaolo Bank will close down in the first month of next year three of the seven branches in Bucharest, following the losses registered last year amounting to EUR 29 million. By January 20 the bank will close down the ...

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Monsson Group’s Romanian subsidiary got EUR 43 M from China Development Bank


Mireasa Energies SRL, part of Monsson Group, controlled by Swedish businessman Emanuel Muntmark, one of the largest developers of wind farms in Romania, has contracted in November last year, a loan of EUR 43 million from state-controlled banking giant China ...

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Debt discharge and conversion laws, lower risks for financial stability


The laws on debt discharge and conversion of foreign currency loans in lei represent decreasing risks for the financial stability, Liviu Voinea, deputy governor of the National Bank of Romania (BNR) said on Tuesday, presenting central bank’s Report on Financial ...

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