Banking - Business Review

Banking

Draft bill for interest cap on mortgage loans gets favorable report in Parliament committee

Banking February 20, 2018 15:38 0 comments

MPs in the budget, economic and legal committees in Parliament have issued a favorable report for a draft bill that aims to cap the interest rate collected by banks on mortgage loans. The draft bill,…more »

transgaz

Spanish-led consortium, including Transgaz and EBRD, submitted a binding offer for Greece’s gas grid operator DESFA

Banking February 20, 2018 12:38 0 comments

A consortium including Romanian state company Transgaz and the European Bank for Reconstruction and Development (EBRD), led by Spanish company Reganosa, is one of the two bidders for a 66 percent stake in Greeece's gas…more »

bcr-pensii

BCR Pensii, the first private pension fund to cap Pillar III contribution fees to a maximum of RON 2

Banking February 19, 2018 12:03 0 comments

Starting June 1, 2018, BCR Pensions will implement an important change in the fee scheme of the BCR PLUS Non-mandatory Private Pension Fund (Pillar III) – the value of the fee for gross contributions will…more »

barclays bank

The Qatar loan saga: Barclays charged again by the SFO

Banking February 16, 2018 16:08 0 comments

The Serious Fraud Office (SFO) has charged Barclays bank for a second time with “unlawful financial assistance” over a USD 3 billion loan made to Qatar when investors from the Middle Eastern country bought shares…more »

First-home

First Home Programme to get less funding, but to continue for a few more years

Banking February 15, 2018 16:02 0 comments

The manager of the National Guarantee Fund for SME Loans (FNGCIMM), Alexandru Petrescu, said on Wednesday that the funds allocated for the “First Home” programme are shrinking, but that the programme will continue to exist…more »

Banca Transilvania’s net profit slightly decreased to RON 1.18 bln in 2017

Banking February 15, 2018 10:49 0 comments

Banca Transilvania’s net profit slightly decreased year-on-year by 3.46 percent to RON 1.18 billion in 2017, according to the bank’s data. The Banca Transilvania Financial Group’s net profit amounted to RON 1.24 billion and BT…more »

banca transilvania

Banca Transilvania starts collaboration with Personetics for AI-powered cognitive banking solutions

Banking February 14, 2018 11:15 0 comments

The second largest bank in Romania, Banca Transilvania, joined a two-day business innovation visit in Israel hosted by Visa, which resulted in a collaboration between the bank and Personetics, a company that offers AI-powered cognitive…more »

M&A alert. Banca Transilvania to offer RON 147 mln for minority stake in Victoriabank

Banking February 14, 2018 09:10 0 comments

Banca Transilvania said it will offer MDL 78.21 per share for taking over a minority stake of 33.23 percent in Victoriabank, the lender based in the Republic of Moldova. “The mandatory public tender offer is…more »

robor increase

Horia Braun, chief economist BCR: “I expect 3M ROBOR rate to stay around the current level in the next months”

Banking February 12, 2018 13:26 0 comments

The average three-month ROBOR index, the indicator that determines the calculation of costs of loans in RON with variable interest, increased this Monday to 2.06 percent from 2.04 percent, the level from Friday, according to…more »

cryptocurrencies

National Bank of Romania warns against any involvement with digital currencies

Banking February 07, 2018 10:10 0 comments

The National Bank of Romania (BNR) classifies digital currencies like Bitcoin as speculative assets which are extremely volatile and risky, mentioning that it discourages any kind of involvement with them, including the idea of providing…more »