Banca Transilvania in talks to buy Volksbank Romania, sources said


Banca Transilvania, Romania’s third-biggest lender, is interested in taking over the local Austrian  Volksbank – Oesterreichische Volksbanken AG (VBPS) subsidiary, a unit up for sale as its bank parent is wound down, bloomberg.com informs quoting two people with knowledge of ...

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Lending, in slight increase this October. Household and corporate deposits follow the same trend


At end-October 2014, broad money amounted to RON 244,700.8 million, up 0.5 percent (0.3 percent in real terms) month on month. In year-on-year comparison, broad money rose 4.7 percent (3.2 percent in real terms), according to National Bank of Romania ...

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150 years of CEC Bank historical activity


CEC Bank celebrated on Monday, 150 years since its establishment, originally called the Deposits and Consignments House, later converted in savings bank, owned by the state and subordinated to the Ministry of Public Finances. “(…) We are honored that nearly ...

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Romania climbs to the 52 position in the Paying Taxes 2015 rankings

due date

Romania jumps to the 52 position in the Paying Taxes 2015 report carried out by PwC and the World Bank (WB), which measures the ease of paying taxes in 189 economies worldwide for an average sized company, a press release ...

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EBRD becomes BVB’s shareholder, acquiring an equity stake of almost 5 pc


As part of the strategy to promote the development of Romania’s capital markets, European Bank for Reconstruction and Development (EBRD) has acquired a 4.99 percent stake in the Bucharest Stock Exchange (BVB), ‘demonstrating its support for Romania’s comprehensive efforts to ...

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EBRD expands energy efficiency financing for SMEs through EUR 15 M loan to BT


The European Bank for Reconstruction and Development (EBRD) is providing EUR 15 million of new financing to Romania’s Banca Transilvania (BT) for on-lending to small and medium-sized enterprises (SMEs) investing in energy efficiency and small-scale renewable-energy projects of up to ...

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Carpatica Bank – Nextebank, possible merger


Romanian private bank Carpatica Comercial Bank (BCC) could fuse by absorption with Nextebank, owned by Emerging Europe Accession Fund, an investment fund managed by Horia Manda through Axxess Capital. The terms will be discussed by BCC shareholders on December 19. ...

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German MEP: Romania is not ready to adopt euro


Romania has set on January 1, 2019 as the target for joining the euro area, although the initial target was 2015. “Setting an ambitious euro target for 2019 could have a positive effect on mobilizing the country but it also ...

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Garanti Bank – Garanti Mortgage merger, completed


Garanti Bank and Garanti Mortgage (Domenia Credit IFN SA) have finalized the procedures for the merger of the two companies in Romania, after completing all legal requirements. According to a press release, this is the first merger operated on the ...

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External debt – down, foreign investments – up


In January – September 2014, the balance-of-payments current account posted a deficit of EUR 558 million compared with EUR 412 million in the same year-ago period, amid the widening of primary income deficit (by EUR 744 million) and the narrowing ...

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