Banks-Insurance
Insurers That Cover Natural Disasters Must Hold Reserves Based On Subscriptions
Romanian insurers that cover natural disasters must hold reserves based on estimations regarding underwritten premiums on this segment and their reinsurance programs, according to norms draw...
Arad Authorities Get EUR9M Loan From EBRD To Buy New Trams
Local authorities in Arad, western Romania, and the EBRD on Friday signed a EUR20 million loan agreement, with EUR9.4 million to be used to buy six new trams and the difference to refinance...
How Much Further The Leu Can Depreciate And Who Would Be Affected By A Euro Worth RON5
The depreciation of the leu towards RON5 per euro would affect Romanians whose loans in euros are worth EUR3.5 billion and would lead to a deterioration of banks’ loan portfolios and an incr...
Leu Ends Flat Vs Euro; Neighbors Gain 2% After China’s Rate Cut
Romania’s leu moved in a tight range against the euro in a quiet session Thursday and closed roughly flat on the day, immune to the positive movement in the region.
CSA Fines Several Insurers RON80,000 Amid Growing Complaints
Romania’s insurance regulator CSA has applied fines of 80,000 lei (EUR17.927) to seven managers of insurance companies for a growing number of complaints from customers in the first five mon...
Romania Sells RON336M 2-Year Bonds At 5.73% Average Yield
Romania’s Finance Ministry on Thursday sold 336.4 million lei (EUR75 million) in two-year bonds, half the planned amount, at an average yield of 5.73% a year, slightly higher than at the pre...
Leu In Ranges Vs Euro, Exchange Rate At 4.4625
Romania’s leu traded in narrow ranges against the euro by midday Thursday and the central bank’s reference gained modestly to 4.4625 units, from 4.4642 units a day earlier.
BCR: Rating Cut Won’t Hurt Banking Activity
Romanian bank Banca Comerciala Romana, or BCR, Thursday said Moody’s decision to downgrade its credit ratings will have only a limited impact on its operations.
Moody's Downgrades BCR, Raiffeisen Bank Romania To Non-Investment Grade
Moody's ratings agency downgraded lenders Banca Comerciala Romana (BCR) and Raiffeisen Bank Romania to Ba1, a move synchronized with rating cuts in the banking sector in the Central and East...