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BNR plans to cut NPLs rate to 6 pc

NPLs

National Bank of Romania (BNR) has set a target of 6 percent for bad loans this year, given that, currently, the percentage is between 9-10 percent, Liviu Voinea, central bank Deputy Governor stated, during a press conference dedicated to the ...

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Raiffeisen recorded a profit of EUR 104 M in Romania last year

raiffeisen

Austrian lender Raiffeisen Bank International (RBI) announced on Wednesday that registered a profit after tax of EUR 104 million in Romania in 2016, up by 4.5 percent compared to EUR 100 million recorded in 2015, a press release informs, quoting ...

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Secondary cities to be turned into Romania’s growth engines

Cluj-Napoca city, view from above   /   photo source: seedfortech.ro

An analysis prepared by the World Bank (WB) for the Ministry of Regional Development and Public Administration (MRDPA) indicates that Romania’s capital, Bucharest, and seven secondary cities – Brasov, Cluj-Napoca, Constanta, Craiova, Iasi, Ploiesti and Timisoara – are currently generating ...

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Patria Bank – Banca Comerciala Carpatica merger in limbo

Patria Bank

The merger between Patria Bank and Banca Comerciala Carpatica (BCC), which received National Bank of Romania (BNR)’s preliminary approval, is currently in limbo after the Appeal Court of Bucharest rejected it, an announcement submitted to the Bucharest Stock Exchange (BVB) ...

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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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