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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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Romania, still in the post-crisis stage: lending remains low

The specifics of any economy that has passed through a crisis: lending remains weak, even if new loans began to grow. In other words, Romania is still in the post-crisis stage, Lucian Croitoru adviser of the Romanian National Bank Governor ...

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BRD Groupe Soc Gen simplifies its commissioning grid for retail customers

  BRD-Groupe Société Générale, the second bank in Romania in terms of assets, announced new commissionning list for the operations performed by its retail clients. “The new list is meant to simplify the structure of tarriffs and commissions, bringing benefits ...

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Alcohol and tobacco to cheapen next year, fuel – more expensive

Tobacco and alcohol prices will fall next year, because the shedule alignment rates of excise duty was already covered and central bank forecasts a cheapening average of 0.1 percent, especially from excise, while fuel will increase by 0.3 percent, Governor ...

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