Banks-Insurance
Leu Stays In Ranges Vs Euro, Exchange Rate At 4.3497
Romania’s leu moved around 4.35 per euro by midday Tuesday and the central bank’s reference weakened 0.2% to 4.3497 units, from 4.3409 units a day earlier.
UniCredit Tiriac Bank, EIF Sign EUR87.5M JEREMIE Agreement
The European Investment Fund and Romania’s UniCredit Tiriac Bank have signed a guarantee agreement under the Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative, al...
Romania Jan-Oct Current Account Deficit Narrows To EUR4.1B
Romania's current account deficit narrowed 9.5% to EUR4.097 billion in January to October, from a gap of EUR4.53 billion in the year-earlier period, due mainly to shrinking trade deficit, ce...
Leu Opens Weaker Vs Euro, Recovers Early
The leu opened Tuesday slightly weaker against the euro, on very low traded volumes, but it soon recovered and returned to yesterday's closing levels.
BCR Chiefs Blame Past Management For Most Of Non-Performing Loans
More than half the non-performing loans accumulated by BCR were generated during the 2006 - 2007 transitional period and before Erste took over the bank after it won the privatization proces...
Lending Will Be Weak Next Year Either Way - Austrian Banks
Lending will not grow significantly next year anyway because of the overall economic environment, so the lending restrictions of local Austrian-owned banks will not be reflected at market le...
SIF Moldova To Sell Entire BCR Stake To Erste This Year
Regional investment fund SIF Moldova (SIF2.RO) will transfer its remaining 4.74% stake in BCR to Austrian group Erste, receiving a 1% Erste stake in exchange.
SIF Transilvania Sells Entire BCR Stake To Erste
Regional investment fund SIF Transilvania (SIF3.RO) transferred the entire 6% stake it held in Romanian lender BCR to Austria's Erste Group Bank (EBS.RO), and received a 1% stake in the Aust...
Erste CEO: Romania's "Brutal" Austerity Measures Show Good Coping Mechanisms
The austerity measures taken in Romania were "brutal", unthinkable in a Western country such as Germany or France, but people in the East "have learned to live with brutality", according to...