Banks-Insurance
State Paper Is Best Shelter From Crisis For Pension Funds
Mandatory private pension funds have sheltered from the sovereign debt crisis by investing preponderantly in government bonds, seeking to offset the significant losses recorded by shares, as...
Tiriac Drops CEO Position For Two COOs
Businessman Ion Tiriac has decided to remove the chief executive officer position from the organizational chart of his holding company for the first time in ten years, delegating the respons...
European Banks Exposure To Romania Rises 22% To $118B In 1H
European banks’ exposure to Romania rose 22% to $117.7 billion at the end of June, from $96.4 billion in the year-earlier period, data from the Bank for International Settlements showed Thur...
Leu Ends Higher Vs Euro In Quiet Market
Romania’s leu strengthened slightly against the euro amid a quiet market Thursday, and closed about 0.15% higher on the day at 4.33/4.3335 units.
BRD: BNR Likely To Cut Key Rate By Quarter-Point In November
Romania’s lower-than-expected inflation could prompt the central bank to lower its key rate by a quarter-percentage point to 6% in November, the first cut in 17 months, BRD-Groupe Societe Ge...
BRD Cuts Romanian GDP Growth Forecast To 2.1% In 2012
Romanian lender BRD-Groupe Societe Generale (BRD.RO) Thursday revised downward its forecast on the economic growth to 2.1% in 2012, from 2.8% previously, citing declining contributions from...
Romania Sells RON182M 3-Year Bonds At 7.5% Average Yield
Romania’s Finance Ministry on Thursday sold 182.1 million lei (EUR42 million) in three-year bonds, well below the planned amount, while the average yield remained stable at 7.49% a year.
BNR: Bank Payment Refusals Fall To RON443M In September
Romanian lenders refused to pay promissory notes, checks and notes of exchange amounting to 443 million lei (EUR102.3 million) in September, down 23.7% on the month, central bank data showed...
Romanian Leu’s Decline Vs Euro Contained At 2% - Central Banker
The Romanian leu has lost some ground against the euro in the past months, as investors are reluctant to bet on risky assets, but the national currency fell at a slower pace compared to its...