Banks-Insurance
BNR: Greek Banks Have Enough Cash And Government Paper To Meet Their Obligations
Greek-held banks in Romania have a solvency ratio that is two percentage points above the banking system average, their obligations are well covered in cash and government paper and the shar...
Insurers Still Pessimistic, Expect Market Stagnation In 2012
The insurance market's balance and revenue stabilized at half a billion euros three months into the year, after three years of decline, the market's players will not say that the worst is be...
Bancpost CEO Peter Weiss Leaves Bank After 18 Months
Peter Weiss, the Dutch executive who took the position of chief executive officer of Bancpost in early 2011, will leave the bank.
Leu Ends Lower Vs Euro On Grexit Concern
Romania’s leu weakened against the euro Wednesday and closed 0.2% lower on the day, amid a negative sentiment in the region due to renewed concern over a possible exit of Greece from the eur...
Vasilescu, BNR: Leu’s Depreciation Vs Euro Mirrors Regional Markets
The recent depreciation of the Romanian leu against the euro is in line with the regional trend and is caused by pressures from the eurozone, a central bank official said Wednesday.
Government Approves New Letter Of Intent To EUR3.5B IMF Deal
The Romanian Government approved Wednesday its latest letter of intent to the International Monetary Fund, which states Romania will raise public sector wages by 8% in June and grant the rem...
Leu Exchange Rate Drops To New Record Low Of 4.4587 Vs Euro
Romania’s leu continued to retreat against the euro by midday Wednesday and the central bank’s reference weakened 0.3% on the day to 4.4587 units, the lowest rate on record.
VIG 1Q Loss In Romania Narrows To EUR2.7M, Underwritten Premiums Down 7% To EUR134.5M
Austrian insurer Vienna Insurance Group (VIG) reported in Romania first-quarter gross underwritten premiums of EUR134.5 million, down 7% on the year, and first-quarter loss of EUR2.7 million...
Leu Falls Vs Euro, On Negative International Sentiment
The Romanian leu fell to around 4.46 against the euro in early trade Wednesday, in line with the other currencies in the region, as investors fear the EU leaders won't make big progress to s...