Banks-Insurance
Romanian Banks Unlock RON10B Provisions After IFRS Adoption
Romanian lenders have unlocked loan loss provisions worth around 10 billion lei (EUR2.3 billion) following the adoption of the international financial reporting standards in January this yea...
Romania Sells RON1B 5-Year Bonds At 6.3% Average Yield
Romania’s Finance Ministry on Thursday sold 1.03 billion lei (EUR235 million) in five-year bonds, double the planned amount, at an average yield of 6.29% a year, lower than at the previous a...
ZRP Posts RON19.1M Turnover In 2011, Up 35% On Year
Romanian law firm Zamfirescu Racoti Predoiu (ZRP) on Thursday reported a turnover of 19.1 million lei (EUR4.5 million) for 2011, up 35% on the year.
Rafo Seeks EUR70M Loans For Upgrades
Romanian refinery Rafo Onesti (RAF.RO) seeks to borrow EUR60 million from external creditors and EUR10 million from its majority shareholder, Petrochemical Holding Austria, in an installatio...
Leu Opens Weaker Vs Euro, Players Look Towards Central Bank
The Romanian leu opened Thursday slightly weaker against the euro, but it soon started to strengthen on player expectations of a central bank intervention to calm the leu’s decline.
Alpha Bank Buries Merger With Eurobank. Romanian Subsidiaries Are On Their Own
The planned merger of Greek groups Alpha Bank and EFG Eurobank, which was supposed to create the third-largest bank by assets in Romania, only survived for six months, and was officially bur...
Free From BNR’s New Restrictions, Credit Cards Become Bankers’ Next Retail Bet
Now that consumer loans come with heavy restrictions imposed by Romania’s central bank, banks are turning to credit cards, unaffected by the new lending rules.
Isarescu: Banks Are Too Busy Fixing Old Policies To Address New Loans
Romanian banks are too busy correcting their lending policy applied in the years prior to the global financial crisis to focus on new loans, central bank governor Mugur Isarescu said Wednesd...
Generali Romania Posts Loss Of RON83.2M In 2011
Insurer Generali Romania (formerly Ardaf) ended 2011 with losses of 83.2 million lei (EUR19 million), from a profit of RON266,579 in the previous year, while underwritten premiums dropped 22...