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.
The exhibition RomanIa – Identity representation of traditional dress in art, currently on view at the National Museum of Art of Romania (MNAR), gathers a variety of artistic representations of the traditional blouse ia, from painting and sculpture, to drawing, photography, installation, film, music, posters, fashion, books, albums, and more. It includes works by Henri […]
Over 136,000 non-EU citizens held residence permits for employment in Romania at the end of August this year, most of them coming from Nepal, Sri Lanka, Turkey, Moldova, and India, and two out of three immigrants live in Bucharest, Ilfov, Constanța, Timiș, and Cluj, according to a study conducted by the Economic and Social Council. […]
Romanian prosecutors conducted house searches in 12 locations in Bucharest and two in Târgu Mureș on Wednesday, November 26, in a case targeting former employees of bankrupt insurer Euroins. Specifically, the searches targeted 10 individuals who held executive management positions within Euroins, as well as the headquarters of legal entities controlled by the Bulgarian shareholders […]
Prices in Bucharest’s premium residential market have doubled over the past few years, reaching record highs amid a severe shortage of supply in the city’s most exclusive neighborhoods, Cushman & Wakefield Echinox said. Areas such as Primăverii, Kiseleff, Aviatorilor, and Dorobanți continue to dominate demand. Over the past 2 or 3 years, prices for premium […]
The Romanian Consulate in New York shared on social media the story of George Pomuț (George Pomutz, born Gheorghe Pomuț), the Romanian-American who facilitated the sale of Alaska to the US. Despite his role in US history, the Romanian is largely unknown today, the Consulate noted. Pomuț was born in the Hungarian town of Gyula, […]
Shares of Cris-Tim Family Holding (BVB: CFH) began trading on the Bucharest Stock Exchange on November 26 after an IPO worth RON 454.35 million (EUR 89.3 million) conducted last month. Cris-Tim is now the largest entrepreneurial company in the food sector on the BVB Main Market. The funds raised from institutional and over 8,000 retail […]
