15 sep 2015

Romania has two high earners in the banking business, who make more than EUR1 million a year, one of whom working on a top management position and the other in investment banking, according to the more

9 sep 2015

Insurer Gothaer Asigurari Reasigurari, part of German group Gothaer, underwrote gross premiums of 36.4 million lei in the first semester, up 50% compared with the company’s forecasts, on the more

9 sep 2015

US fund J.C. Flowers shook hands with Romanian lender Banca Comerciala Carpatica (BCC.RO) stockholders to buy a 25% stake in the bank through a private investment worth nearly 80 million lei deal. more

9 sep 2015

US private equity fund J.C. Flowers has finally reached an agreement with the group run by businessman Ilie Carabulea to take over Banca Carpatica (BCC.RO), the first move in a broader plan to buy more

7 sep 2015

The ranking of the top ten banks, which account for almost 80% of the assets of the entire banking system, did not see any new entry in the past six years, but market shares and positions did change. more

4 sep 2015

A number of 24 banks in the system posted profit in the first half, while 16 were in the red, said Nicolae Cinteza, head of the Supervision Department of Romania’s central bank. more

3 sep 2015

US’ fund J.C. Flowers, is trying to take over both Romanian lender Banca Comerciala Carpatica (BCC.RO) and Greek-owned lender Piraeus Bank in an attempt to set up a bank worth of a top 10 position more

31 aug 2015

Almost seven years from the onset of the economic crisis, the banking system has lost one fifth of the jobs and offices. A number of 14,282 people left the system and 1,349 offices and branches were more

20 aug 2015

Shareholders of insurer Astra Asigurari, under special administration, have not subscribed enough shares available in the EUR425 million share capital increase, while the company’s special more

20 aug 2015

The European Bank for Reconstruction and Development, the largest foreign institutional investor in Romania, has invested EUR2.7 billion in the country in the last five years, continuing support for more

18 aug 2015

Romania’s banking system, which numbers 40 lenders, posted almost 1.2 billion lei (EUR271 million) profit in the first half. Solvency remained high and the non-performing loan ratio went down again, more

12 aug 2015

The European Investment Bank (EIB) granted total loans of EUR2.8 billion to Romania between 2010-2014, EUR895 million of which targeted the banks and non-banking financial institutions (IFNs), mostly more

17 iul 2015

Ernst & Young Assurance Services will be the new financial auditor of BRD-SocGen, the second largest bank by assets on the local market, replacing Deloitte. more

15 iul 2015

The Romanian banking sector may strengthen furthermore, continuing the positive trend in 2014 and early 2015, while the four branches of the Greek-based banks may be put up for sale as part of the more

7 iul 2015

Citi, the US giant that manages almost two trillion dollars in assets worldwide, has redefined its strategy in the last five years, streamlined and restructured the business and decided to sell the more

22 iun 2015

Tension is mounting on the Romanian financial market, too, as Greek banks control 12% of the local banking assets, now that the crisis in Athens has reached that point where capital controls, more

18 iun 2015

Corporate lending recorded the highest non-performing loan ratio during the crisis, which peaked at 24% in the first half of 2014. Swiss franc and euro-denominated loans saw the highest NPL ratio of more

12 iun 2015

The banking system posted 800 million lei (EUR179 million) profit in the first quarter and remained profitable in April, as well, Nicolae Cinteza, head of the Supervision Department of Romania’s more

1 iun 2015

The Romanian economy is growing faster than the estimates at the beginning of the year, prompting an upward revision of the 2015 figures and of those for the coming years. more

31 mar 2015

The expansion of the shadow banking system comes as a reaction to the global financial crisis and to restrictions imposed on banks and it cannot said to be good or bad, but a necessity and the more

18 mar 2015

Mihai Tanasescu, who became vice president of the European Investment Bank (EIB) in 2012 and the first Romanian to climb so high up the ladder in a major international financial institution, is on more

13 mar 2015

Loans granted directly by shareholders or partners to companies – common practice especially with small and medium-sized businesses, as well as with foreign-held companies, rose during the crisis to more

12 mar 2015

The Finance Ministry repaid the first EUR1.5 billion tranche of the loan it took from the European Commission in 2009. The amount equals half of this year’s projected budget deficit. more

2 mar 2015

The audit and consulting services market has so far been dominated by men at top management level. However, in recent years, a rising number of women have managed to gain partner positions and in some more

17 feb 2015

The debts of state-run companies account for almost half of their revenue and most of the money is owed to the state budget. more