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Euro hits this year’s high against Romanian currency – RON 4.55/EUR

Euro

The European currency was Wednesday quoted by National Bank of Romania (BNR) at RON 4.55, the highest level since the beginning of this year. Thus, RON reached the lowest level in almost four years against EUR. On Tuesday, the euro ...

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ING Romania’s gross profit, up by 44 pc in 2016, to RON 565 M

ing romania

Local subsidiary of Dutch ING Group recorded a significant increase of gross profit in 2016 at 565 million, up by 44 percent year-on-year, mainly due to the general increase in lending activity and revenue from the Visa Europe shares sale, ...

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Romania should continue to reform its SOEs to enhance growth, WB argues

SOEs

One of the first areas where the Romanian authorities should focus is a continuation of the reform and modernization of local state-owned enterprises (SOEs), Elisabetta Capannelli, World Bank Country Manager for Romania and Hungary, stated. “With approximately 1200 SOEs in ...

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Cultural and creative SMEs in Romania to benefit of EUR 10 M loans

Cultural and creative

The European Investment Fund (EIF) and Libra Internet Bank have signed the first guarantee agreement in Romania supported under the new Cultural and Creative Sectors Guarantee Facility from the EU’s Creative Europe programme, a press release informs. The European Union’s ...

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BNR’s forex reserves fell by EUR 23 M in February

reserves

Romania’s foreign exchange reserves stood at EUR 34,495 million at end-February, compared to EUR 34,518 million on January 31st, 2017, National Bank of Romania (BNR) informs. During the month, EUR 405 million inflows took place, representing changes in the foreign ...

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Romania, first in Central and Eastern Europe in NPL portfolios sales

creditare

Romania was first in Central and Eastern Europe (CEE) in terms of non-performing loans (NPL) portfolios sales, with transactions of EUR 3.5 billion in 2015 and 2016, a report by an international consulting company, according to Deloitte’s annual NPL Study. ...

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EIB group financing reached EUR 1.1bn in Romania in 2016

EIB

The European Investment Bank (EIB) provided new loans worth EUR 1.04bn and the European Investment Fund (EIF – which together with EIB forms the EIB Group) executed operations in Romania totalling EUR 61m in 2016. The EU bank financed priority ...

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Record profit of over RON 1 bn for BCR in 2016

Metroffice complex

Last year, Banca Comerciala Romana (BCR) posted a strong net profit of RON 1.04 billion (EUR 232.9 million), supported by “business development and continuous improvement of portfolio quality”, a press release informs on Tuesday, based on financial statements. The operating ...

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Romanians’ savings, slightly down this January, central bank shows

Savings

RON-denominated household deposits decreased by 0.2 percent in January 2017 to RON 103,466.5 million, compared to the previous month, National Bank of Romania (BNR) informs. However, at end-January of the current year, the household deposits in domestic currency rose by ...

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Romanian banking system in 2016: EUR 87 M in assets and almost EUR 1 bn profit

Romanian banking system

The 37 banks active on the Romanian market ended 2016 with net assets of RON 393.9 billion (EUR 86.7 billion) and total cumulative profits of RON 4.33 billion (EUR 954 million), due to lower non-performing loans, National Bank of Romania ...

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