BANKS
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Agriculture Minister Frowns On Banks’ Reluctance To Finance Farmers
Romania’s agricultural growth is affected, among others, by banks’ reluctance to finance farmers, although the interest on loans is higher compared to other countries, Agriculture Minister S...
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...
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.
Rompetrol Group Gets 5-Year $200M Syndicated Loan
Romanian second largest oil group Rompetrol NV, a unit of Kazahstan’s KazMunayGas, has signed a five-year $200 million syndicated loan agreement with a consortium of banks led by Italy’s Uni...
Agriculture Ministry Will No Longer Accept Comfort Letters From Any Lender
The Romanian Agriculture Ministry will no longer accept comfort letters for EU-funded projects from any credit institution, as some lenders turned it into a business and sell comfort letters...
ING: Romania Bank Liquidity Gap Doubles In February
The liquidity shortage in the Romanian banking system more than doubled in February, with lenders borrowing on average 3.3 billion lei (EUR0.76 billion) a day from the central bank, compared...
Deposit Interest Rates In Lei And Euro Tend To Even Out
Local banks’ hunger for euros combined with the cash injections of the Romanian central bank (BNR) have led to a spectacular situation on the banking market: interest rates on euro deposits...
Isarescu: Romania’s Central Bank Keeps Hefty Cash For Banking Panic
Romania’s central bank keeps a cash reserve equivalent to “several tens percent” of the monetary mass, to use in moments of banking panic such as the ones in the ‘90s and 2000s, central bank...
ING: Romania’s Banking Market May See Third Year Of Loss In 2012
Romania’s banking system might see red in 2012 as well, for the third consecutive year, and players with considerable losses will most likely need additional capital, according to Florin Ili...