Banks-Insurance
PM-Designate Victor Ponta Announces Minister Nominees
Romania’s Prime Minister-designate Victor Ponta on Tuesday evening presented the list of minister nominees.
Omniasig-BCR Asigurari Merger Completed
The merger of Romanian insurers BCR Asigurari and Omniasig, controlled by Austrian group Vienna Insurance Group (VIG), has been completed and the new company has become the leader of the loc...
Banca Transilvania Beats BCR And BRD In Terms Of Profit
Banca Transilvania was the most profitable top three bank in the first quarter and the only one to have posted asset growth, as the economy remained difficult.
Cemacon Expects To Return To Profit In 2012, On 65% Higher Turnover
Romanian brick maker Cemacon (CEON.RO) expects turnover to grow by 65% this year, from 27.3 million lei (EUR6.2 million) to RON45.1 million, and net profit of RON1.02 million, after losses o...
Banca Transilvania 1Q Net Profit Rises To RON91.8M
Romanian lender Banca Transilvania (TLV.RO) Monday said its first quarter net profit rose 73% to 91.8 million lei (EUR21.1 million), on lower provisions.
Leu Drops To 4.4165 Vs Euro Amid Political Uncertainty
Romania’s leu continued to weaken against the euro in late trade Monday, dropping to new record lows amid political uncertainty following the government’s collapse Friday.
Vulcan To Borrow Up To RON200M For Investments
Romanian steam generator maker Vulcan Bucuresti (VULC.RO) plans to borrow up to 200 million lei (EUR45 million) from lender BCR to finance investments and refinance existing debt, the compan...
BCR Swings To RON308M Net Loss In First Quarter
Romania's largest banking group BCR Monday reported the widest quarterly loss since it was taken over by Austria’s Erste Bank (EBS.RO) in 2006 as rising risk costs continued to hurt the bott...
Leu Falls To Record Lows Vs Euro. Exchange Rate At 4.397
The Romanian leu lost its early gains versus the euro by midday Monday and the central bank’s reference weakened to a record low of 4.397 units, despite continued efforts from the bank to mi...