Law on debt discharge came into force today

debt discharge

The controversial law on debt discharge came into force Friday, 15 days after it was promulgated by President Klaus Iohannnis and published in the Official Gazette. The law allows for the discharge in full of any loans contracted by a ...

Read More »

EBRD has improved Romania’s economic growth forecast


The European Bank for Reconstruction and Development (EBRD) has improved the economic growth forecast for Romania in 2016 from 3.7% to 4%, according to new estimates announced on Wednesday at the annual meeting held in London. For 2017, the European ...

Read More »

Gil Karni returns in Romania as the new CEO of Bank Leumi

Bank Leumi

As of this May, the local subsidiary of Israeli’s Bank Leumi appointed Gil Karni to serve as the new CEO of the financial institution, a press release informs, thus replacing Romanian Laurentiu Mitrache, after 10 years of leading the bank’s ...

Read More »

BNR maintains monetary policy rate at 1.75pc

bnr monetary

In its meeting of 5 May 2016, the Board of the National Bank of Romania (BNR) decided to keep unchanged the monetary policy rate at 1.75 percent per annum. BNR also determined to pursue adequate liquidity management in the banking ...

Read More »

BRD profit, down by 14 pc in the first quarter of 2016


BRD Group registered a net profit of RON 73 million in Q1 of 2016, down by 14 percent compared to RON 85 million in Q1 of 2015, a press release informs on Wednesday. The gross operating result and the net ...

Read More »

Net profit of RON 315.1 M for BCR in Q1, NPL ratio continues to decrease


Banca Comerciala Romana (BCR) achieved a net profit of RON 315.1 million (EUR 70.2 million) in Q1 2016, supported by “operating performance and continued improvement of portfolio quality”, a press release informs on Wednesday. The operating result stood at RON ...

Read More »

Banca Transilvania profit in Q1, higher by 50 pc

banca transilvania

The first quarter of this year was a back-to-business year for Banca Transilvania (BT), the officials of the financial institution said. Thus, BT’s operating income reached RON 599.1 million, being 10.7 percent above the level in the same period of ...

Read More »