“This year’s first edition of Fidelis reconfirms citizens’ constant interest in safe savings tools. We are glad that the program supports both the responsible development of personal savings and social involvement, through the tranche dedicated to blood donors. Today’s listing on the Stock Exchange offers full flexibility to those who have chosen to invest in their future and that of Romania,” stated Finance Minister Alexandru Nazare.
“The listing of the 32nd issue of Fidelis government bonds confirms the solidity of the partnership between the Romanian state and the capital market institutions, a partnership that offers Romanian investors a stable, transparent and efficient platform for saving and investing. The consistency with which the Ministry of Finance carries out issues dedicated exclusively to retail investors, within a program with monthly editions and attractive conditions, contributes not only to the development of the financial market in Romania, but also to increasing the level of financial education. The success of the Fidelis program demonstrates that Romanians are increasingly interested in diversifying their portfolios and making informed financial decisions, oriented towards the medium and long term, which supports the financial health of the population and confidence in Romania’s economic prospects,” said Radu Hanga, Bucharest Stock Exchange President of the Board.
“The high interest registered for this edition of the Fidelis program, especially for the 10-year euro issue, which attracted over 40% of the total amount subscribed, almost 152 million euros through over 5,600 orders, shows the confidence of investors in Romania’s long-term evolution. Fidelis offers an essential advantage to retail investors: liquidity, through the possibility of trading government bonds on the stock exchange in a transparent and fast framework. The program also has a visible impact on the expansion of the investor base, given that, at the end of September 2025, over 65,000 people held government bonds exclusively, representing almost a quarter of all active investors on the Bucharest Stock Exchange. This dynamic confirms that the Fidelis program is a gateway to the capital market and an important driver of the increase in the number of investors,” said Remus Vulpescu, CEO of Bucharest Stock Exchange.
”The first offering carried out this year attracted the equivalent of 1.86 billion lei, and investors heavily bet on the euro tranches – 62% of subscriptions came from foreign currency issues. At the same time, attractive yields in lei maintained a solid interest for medium and long maturities. The over 18,000 subscription orders placed in this offering confirm the dynamism and confidence of Romanian investors, and the tranche dedicated to blood donors shows that saving goes hand in hand with responsibility and solidarity. UniCredit Bank, as an intermediary of the Fidelis program, is happy to contribute to this success and to offer investors direct access to safe and transparent instruments. This offering is a strong debut for the market, a positive signal for investors and further proof that in Romania capital goes where there is trust,” said Emilian Dobran, Head of Brokerage, Brokerage Department, Markets and Treasury Division, UniCredit Bank.
The primary sale offer for Fidelis government bonds was carried out between January 16 and 23 and it was intermediated by a syndicate consisting of BT Capital Partners (Lead Manager), Banca Comerciala Romana, BRD – Groupe Societe Generale, TradeVille and UniCredit Bank (Intermediaries) and Banca Transilvania, Libra Internet Bank (Distribution Group).
During this offer, Romanians placed almost 18,500 subscription orders, for both RON denominated and EUR denominated government bonds.