Banks-Insurance
Romania To Resume Cupru Min Sale 4 Months After Getting Environmental Permit
Romania’s new Cabinet, which will seek a confidence vote in Parliament Monday, will resume the sale of copper producer Cupru Min four months after the company gets an environmental permit, e...
Romania Will Raise Public Wages By 8% As Of June, Grant Remainder Up To 15% In Fall
Romania’s Prime Minister-designate Victor Ponta on Monday said public sector wages will be restored to their June 2010 level, with a first raise of 8% to be operated starting June 1 and the...
VIG Lays Off A Fifth Of Romanian Employees In Two Years
Austrian insurer Vienna Insurance Group (VIG), which controls a quarter of the Romanian insurance market, cut by 22% its number of employees on the local market in the past two years, and th...
Volksbank Austria Wants To Sell Volksbank Romania By 2015
Volksbank Austria will sell its 51% stake in the vehicle that controls Volksbank Romania “under the best terms and as soon as possible,” according to the set of conditions part of the group’...
Erste’s Head Of Risk Says Clean-Up Of BCR’s Loan Portfolio Will Continue
Austria’s Erste has finished cleaning up its loan portfolio in Hungary but the process continues in Romania with BCR, where the group plans to raise the degree of coverage of non-performing...
Leu Ends Slightly Higher Vs Euro In Lackluster Trade
Romania’s leu strengthened slightly against the euro Friday and closed near 4.4 units, after a calm session.
Greek ATE Bank Lends EUR24M To Romanian Unit
ATE Bank Romania Friday said it has borrowed EUR24 million from its mother bank, Greece’s ATE Bank, to increase its liquidity and solvency ratio.
Leu Up Vs Euro, Exchange Rate At 4.4044
Romania’s leu edged higher against the euro by midday Friday and the central bank’s reference strengthened for the second straight day to 4.4044 units, from 4.4078 units a day earlier.
MKB Expected To Sell Romexterra Below Asset Value
The MKB group took an impairment of around EUR169 million on its Romanian investment as early as last year, at a time when the management expected to sell Romexterra Bank for a low price, wh...