The banking system in Romania is healthy, very resilient, and solvency is currently at 23%, Bogdan Neacsu, president of the Romanian Bankers Association (ARB), said on Monday at the 12th edition of the ZF Bankers Summit."I would not say that the banking system is shrinking, even if the economy is growing. I would say that it is growing and if we look at the banking assets in general we have a significant growth. Moreover, financial intermediation or the level of financial inclusion, if you look at the population, has also grown significantly. For example, in the case of financial inclusion, we are approaching a level of 70%. If we look 10 years ago, I think we were talking about a level of less than 50%. I believe that the Romanian banking system is taking important steps to support this economic growth. It is very true that this economic growth is also influenced by the area of financial assets in Romania, but also by the financing provided by the parent companies present in Romania. What is certain is that we are talking about a healthy, very resilient banking system. Solvency is at 23% if we look now. The liquidity of the system is very high. Deposits are still growing rapidly," Neacsu said.According to him, banks in Romania are currently focusing on supporting companies present on the local market and developing operations: either to attract new clients or to try to motivate entrepreneurs to take on new projects.The ARB president added that in 2023, a 10.5% year-on-year credit growth was observed, and this year, until April, a credit growth of 5.8 - 6% was observed. He mentioned that this indicator is expected to improve in the second half of the year.Regarding the consolidation of the banking system, Bogdan Neacsu said that the trend has been manifest since 2010, and the operations carried out so far have brought value to the banking system itself, not only to companies.
Two sovereignist candidates, namely the leader of the far-right Alliance for the Union of Romanians (AUR), George Simion, and former Social Democratic (PSD) prime minister Victor Ponta, are in the first two positions in the race for the presidential office in a Verifield poll commissioned by Bucharest mayor Nicușor Dan and presented on Monday, March […]
Romania is becoming a European benchmark in sustainability, thanks to the Deposit Return System implemented by RetuRO, the company managing the country’s largest circular economy project. The system’s performance in its first year of operation and its development objectives for this year were presented by Gemma Webb, CEO and Chair of the RetuRO Board of […]
Teilor Holding, the company operating the Teilor jewelry store chain, is on track to list its two corporate bonds on the Bucharest Stock Exchange on Thursday, April 13. The bonds, which will go on the AeRO Multilateral Trading System, have a total aggregated value of nearly EUR 4.5 million, and were sold in October last […]
Eight Romanian couriers in the United Kingdom were sentenced to more than 30 years imprisonment after stealing parcels worth EUR 1 million and selling them online. Three of the suspects managed to flee to Romania and are now being sought. The former couriers operated together between September 2022 and February 2023 in Birmingham. Using their […]
Bucharest’s central Easter fair, Traditions and Flowers of the Holidays, returns in King Michael I Park (Herăstrău) between April 12 and 21. Held at the Charles de Gaulle entrance, the event awaits visitors with local crafts, traditions, and various activities. The fair is dedicated both to the Palm Sunday and Easter holidays, the organizers said. […]
Interim president Ilie Bolojan marked 21 years since Romania's accession to the North Atlantic Alliance by stating that the NATO anti-missile shield in southern Romania made the country safe, allowing it to develop economically. NATO membership meant that Romania was a safe place, Bolojan said, adding that this was “especially due to the support provided […]
