Banks-Insurance
BNR Profit Five-Times Lower In 2011, At RON300M
Romania’s central bank reported a pretax profit of 301.4 million lei (EUR70 million) in 2011, according to unaudited financial data, almost five times lower than the previous’ year’s result.
Raiffeisen Reports EUR94M Net Profit In Romania, Down 6.5% On Year
Austrian group Raiffeisen Bank on Thursday reported in its financial results for 2011 a 6.5% year-on-year decline of its profit after tax in Romania, to EUR94 million, despite higher revenue...
Number Of Insolvencies Down 10% On Year In First Two Months
The number of Romanian companies going insolvent in the first two months of the year narrowed by 10% compared to the same interval of 2011, to 2.608, with firms in retail and construction ta...
Leu Exchange Rate Weakens To 4.3788 Vs Euro, After Central Bank Rate Cut
The Romanian leu lost ground against the euro in mid-trade Thursday, after the central bank cut the key rate by 25 basis points to a record low of 5.25%, the reference rate weakened to 4.378...
Vienna Insurance Group 2011 Loss In Romania At EUR12.8M
Vienna Insurance Group (VIG) posted loss of EUR12.8 million in Romania in 2011, due to a 4.8% decrease in underwritten gross premiums to EUR502.9 million triggered by the harsh economic situ...
Leu Edges Over Euro, In Quiet Trading
The Romanian leu was slightly stronger against the euro Thursday morning, in a quiet market with low traded volumes.
IMF Suggested Creating A "Bad Bank" But BNR Refused
Back when the previous stand-by arrangement was in place, IMF experts proposed the creation of a bad bank, which would manage ailing assets in the form of non-performing loans in the banking...
Erste Wants 100% In BCR, Persuades 339 Individuals To Sell, Continues Negotiations With SIF Oltenia
Austria’s Erste Group (EBS.RO) has only one of the top ten individual shareholders of BCR left to persuade, after nine of them have already accepted the offer to sell at 1.09 lei per share,...
EBRD Mulls RON33.2M Loan For Waterworks In NW Romania
The European Bank for Reconstruction and Development, or EBRD, could issue a loan worth 33.2 million lei (EUR7.8 million) to Romanian Apaserv Satu Mare for water and wastewater infrastructur...