In the first six months of 2009, the group posted a consolidated net profit of 606.8 million lei. However, the operating profit rose by 19.8 percent from the first half last year, to 1.63 billion lei. The main engine of this improvement was the strong increase of the net income from interests within the BCR ...
On the international markets, the U.S. dollar inched from 1.4280 to 1.4130 per euro. For the U.S. dollar, BNR’s exchange rate grew 1.24 percent to 2.9043 lei per dollar, from 2.8687 in the previous session. Overnight interests continue to stand at 3.2 – 3.7 percent a year, way below the key interest rate of 7.50 ...
Data provided by the National Bank of Romania (BNR) indicates that lenders posted a profit worth RON 680 million (some €160.8 mln) in the first three quarters of this year, five times less year-on-year. Calculations by Business Standard indicate that banks could register earnings exceeding €185 mln in 2009 from the interest rate spread for ...
“The deteriorating quality of bank assets is likely to become an important vulnerability in the Central and Eastern European region, particularly in economies affected by large contractions in output. The quality of loan portfolios has deteriorated as labour market conditions weakened, incomes declined and real interest rates increased,” said the ECB report. According to ECB, ...
For bank clients, the year 2009 “has put a lock” on the financing door. The balance of individual loans rose insignificantly compared to previous years, and is supported only by the government’s First Home program. Corporate clients are either avoiding knocking on bank doors, or have yielded to very drastic new financing conditions. “The year ...
“The population’s situation has worsened, and the level of dissatisfaction continues to grow. Over 28 percent of the population has no faith in banks, said Eugen Dijmărescu, President of FGDB. The FGDB study further shows that Romania have faith in investments in real estate goods and precious metals, but consider investments in private pensions, simple ...
He was declared strategic investor in Romania six years ago, and currently has businesses in fields such as FMCG, hotels, restaurants, and catering (HoReCa), jewellery, IT, and the tobacco industry. “For 18 years, since I came to Romania, I have invested hundreds of millions of euro,” said Davidai. Regarding the business environment in Romania, Davidai ...
The auction attracted 13 banks, who offered €1.759 bln, but the Ministry of Finance accepted only 81 percent of the amount which lenders were willing to invest. “The interest rate of the issue comes as no surprise, as the maturity is also low. But the amount is somewhat of a surprise, because [the Ministry] attracted ...
“A 5.25 percent rate is acceptable both for the Ministry of Finance and for banks. In the second half of next year, the European Central Bank will forego inexpensive lending facilities and will raise the key interest. Thus, EURIBOR will increase, and euro rates will go up. The issues made by MFP this year have ...
“There will be a new club loan before the second round of elections, on 6 December. The banks could lend up to €1 billion to the state, from reserves released by the National Bank, to ensure extra liquidity at the end of this year,” said sources, who added that the loan will be short-term, of ...