03.28.2012

Romanian lender UniCredit Tiriac Bank freed up some 550 million lei (EUR125.7 million) from its provisions by switching to international financial reporting standards (IFRS) from the local standard more

03.27.2012

Italian UniCredit Group on Tuesday announced a 15.3% year-on-year drop in the pretax profit seen last year in Romania, to EUR42 million, from EUR49 million in 2010. more

03.21.2012

Romania’s UniCredit Tiriac Bank on Thursday said its net profit slid 7% to 159.4 million lei (roughly EUR38 million) in 2011, on higher operating costs and lower revenue from interests. more

03.14.2012

Romanian second largest oil group Rompetrol NV, a unit of Kazahstan’s KazMunayGas, has signed a five-year $200 million syndicated loan agreement with a consortium of banks led by Italy’s UniCredit more

02.08.2012

Fitch Ratings Wednesday affirmed the long-term issuer default ratings of Romanian UniCredit Tiriac Bank at 'BBB+', while revising its outlook to negative from stable, the ratings agency said in a more

02.07.2012

Developer AFI Europe, member of AFI Group, received funding worth EUR13.4 million from UniCredit Bank Austria, to develop the first of five buildings within the AFI Business Park Cotroceni project in more

01.19.2012

Foreign direct investments in Romania will remain subdued in 2012, amid increasing risk aversion in international markets and political uncertainty on the local market, Italy’s UniCredit said in a more

01.19.2012

External financing could prove costly for Romania in the first half of 2012 and the country may have to tap into a EUR5 billion loan made available through a precautionary program from the more

01.18.2012

The governor of the central bank of Austria, Ewald Nowotny, says publicly he does not intend to drastically restrict the position of Austrian banks in the region, but unofficially continues to press more

12.22.2011

Italy’s UniCredit estimates Romanian annual inflation rate will reach 4.5% in December 2012, outside the central bank’s target range of 2%-4%, because of a negative effect of food prices. more

12.22.2011

Romania is likely to draw funds from its precautionary loan agreement with the International Monetary Fund in 2012 because of scarce capital inflows, while other countries in central and eastern more

12.13.2011

The European Investment Fund and Romania’s UniCredit Tiriac Bank have signed a guarantee agreement under the Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative, allowing more

12.01.2011

New types of deposits with maturities of two years and of eight months, mortgage loans meant to encourage financing in lei, supplying all branches with special machines for non-stop operations, the more

12.01.2011

Businessman Radu Enache, owner of the Continental hotel chain, sold the Ibis Hotel in Sibiu evaluated at EUR10 million in a sale&lease back deal, company officials say. The contract was signed with more

11.25.2011

The National Bank of Romania has abstained from criticism over the announcement of the Austrian supervisory authorities, while Erik Berglof, chief economist of the European Bank for Reconstruction and more

11.23.2011

Risk premiums in the region have jumped again, local financial markets have contracted and a wave of catastrophic predictions about euro zone banks cutting their financing shook Central and Eastern more

11.22.2011

Erste Group, UniCredit Bank Austria, and Raiffeisen Bank International-- the respective owners of Romanian lenders BCR, UniCredit Tiriac Bank and Raiffeisen Bank Romania--will only increase lending in more

11.15.2011

UniCredit-Tiriac Bank will freeze its expansion plans in 2012 to focus on drawing more resources from the local market and increase profitability, chief executive Rasvan Radu said Tuesday. more

11.15.2011

Romanian lender UniCredit Tiriac Bank on Tuesday reported a 43% year-on-year drop in its nine-month profit, to 122 million lei (EUR29 million), as harsh economic conditions and legislation changes more

11.14.2011

Italian group UniCredit on Monday announced a pretax profit of EUR33 million in Romania for the first nine months, down 45% from EUR59 million in the same interval of 2010. more

10.31.2011

Dan Pascariu, chairman of the Supervisory Board of UniCredit Tiriac Bank, believes the Romanian government lacks the money to create or buy a large bank that can make a difference on the market. more

10.17.2011

Romanian banking profitability is likely to continue its decline through 2011, due to increasingly high costs, while the small, less specialized banks could even shut their doors, the head of more

10.15.2011

The uncontrollable dynamics of the current economic crisis naturally causes fear, but the Western Europe will ultimately find solutions and avoid a catastrophe, even though costs may be high, says Dan more

10.13.2011

Italy’s UniCredit is ready to boost the capital of its Romanian subsidiary UniCredit Tiriac Bank to meet potential lending growth, but a final decision will be made together with its local more

10.13.2011

Italy’s financial group UniCredit plans to invest over EUR100 million in 300 new branches in Romania over the next years, the group’s general manager Roberto Nicastro said Thursday. more