Banks-Insurance
Eureko Calls It Quits After EUR30m Losses In Eight Years In Romania
Insurance giant Eureko plans to leave Romania early next year after having invested tens of millions of euros in its local subsidiary to offset its losses year after year, sources in the ind...
Romania To Pay VAT Refunds Worth RON1.3B In July
Romanian tax authority ANAF will pay value added tax refunds worth 1.3 billion lei (EUR287 million) in July, of which RON32.6 million represents compensations.
Open-End Fund Assets Rise To RON7.92B In June
The combined net assets of Romanian open-end investment funds inched up 1% to 7.92 billion lei (EUR1.78 billion) in June, from RON7.83 billion a month earlier, the Romanian Association of As...
Romania To Seek Higher Threshold For Public Procurement Contracts
Romania's Procurement Authority (ANRMAP) will ask the Government to raise the minimum project value at which holding public procurement procedures become mandatory, currently EUR15,000, auth...
Credit Agricole To Remove Emporiki Name From All Romanian Branches By Saturday
Credit Agricole, the second largest French banking group by assets, will replace the Emporiki logo on all the 29 branches of Emporiki Bank Romania by the end of this week. This is part of th...
Six BCR Executives Were Paid EUR1.8M Last Year
Six members of the executive team of BCR, the largest bank on the market, received overall compensation of over EUR1.8 million in 2011 as salary before tax, while the performance bonus was z...
Romania’s Borrowing Costs Climb Amid Political Turmoil, EU Debt Worries
The tensed situation in European financial markets, alongside political disruption at home have driven Romania’s borrowing costs higher, an official of the Finance Ministry said Monday.
Ufuk Tandogan Appointed New CEO Of Garanti Romania
Murat Atay, CEO of Garanti Group Romania, has been appointed to the management of Garanti Mortgage Turkey, and will be replaced with Ufuk Tandogan, a banker who has been working in Garanti T...
Romania Sells RON700M 1-Year T-Bills At 5.5% Average Yield
Romania’s Finance Ministry on Monday sold a planned 700 million lei (EUR154.6 million) in one-year treasury bills, but the average annual yield rose to 5.53%, from 5.29% previously, amid pol...