Banks-Insurance
Omniasig-BCR Asigurari Merger Awaits Watchdog’s Approval, Final Shareholder Vote
The largest merger on the Romanian insurance market is only halfway to completion, but the outlines of the new company resulting from the consolidation of Omniasig and BCR Asigurari’s busine...
Austrian Central Bank Insists On Restricting Lending Terms For New Loans
The governor of the central bank of Austria, Ewald Nowotny, says publicly he does not intend to drastically restrict the position of Austrian banks in the region, but unofficially continues...
Bancpost, Alpha Bank Await Merger With Staff Cuts And Balance Sheet Reduction
Bancpost and Alpha Bank, the Romanian units of Greek banks EFG Eurobank and Alpha Bank, which should have completed their merger in legal terms by the end of 2011, do not have a calendar or...
Erste To Name Tomas Spurny As New CEO Of BCR - Sources
Tomas Spurny, Chief Executive Officer of Hungary’s CIB Bank and former head of the PPF investment fund, will replace Dominic Bruynseels as president of Romanian lender BCR, a unit of Austria...
Boc Pledges To Ease Firm Startup Procedures, Support Young Entrepreneurs
Romanian Prime Minister Emil Boc on Tuesday said the Government will ease procedures to set up a firm, will ensure extra financing for young entrepreneurs and will grant state aid to enterpr...
Leu Weakens Vs Euro, Unlike Neighbors
Romania’s leu extended early losses against the euro in late trade Tuesday, unlike its peers in the region, and closed 0.3% weaker on the day at 4.3365/4.338 to the European common currency.
Leu Exchange Rate Firms To 4.3270 Vs Euro
Romania’s leu retreated modestly against the euro by midday Tuesday, but the central bank’s reference strengthened almost 0.2% to 4.327 units, from 4.3347 units a day earlier.
Leu Opens Flat Vs Euro, On Low Trading
The Romanian leu opened roughly flat against the euro Tuesday, on little activity, as local investors sell euro and foreigners buy it.
SIF Oltenia Stalls Sale Of BCR Stake: We Have All The Time In The World
Romanian regional investment fund SIF Oltenia (SIF5.RO), the only one of the five SIFs which has yet to sign the contract to sell its shares in BCR to Austria’s Erste Group Bank (EBS.RO), sa...