The Romanian banking sector is not directly exposed to the risks associated with the conflict in Ukraine, and the attracted deposits amount to a modest value for our system, of 17.9 million lei for Russia and 40.7 million lei for Ukraine, Leonardo Badea, vice president of the National Bank of Romania (BNR), said on Thursday."The Romanian banking sector is not directly exposed to the risks associated with this conflict [from Ukraine - editor's note]. Exposures of the credit institutions are low in respect to the trade-off with Russia or Ukraine, there are no such granted loans and advances in balance sheets, and the attracted deposits amount to a modest value for our system, of 17.9 million lei for Russia and 40.7 million lei for Ukraine, according to the data from December 2021. About 300 enterprises running on capital from Russia have been identified, but the role these firms play among the total non-financial companies in insignificant, as they generate 0.1pct of gross value added, produce 0.66pct of turnover, hold 0.2pct of the total assets of non-financial companies and employ 0.08pct of the total number of employees," said Leonardo Badea, at the European Financial Services Conference ECFS2022, organized by the Institute of Financial Studies.According to him, the exposures of credit institutions in Romania to domestic companies running on Russian capital are very low, of 71 million lei. The long-term private debt to non-financial creditors of Russian companies stood at 145 million euros at the end of 2020.He also referred to the impact on the energy sector, noting that between January and November 2021, 70pct of the gas consumed in Romania was from local production and only 10pct of the total consumed by Romania was supplied by Russia.
Warner Bros. Discovery announced a new partnership with Edenred Romania, allowing users of the Edenred Benefit platform to subscribe to HBO Max directly through their employee benefits account. The collaboration aims to make premium entertainment more accessible to employees across Romania, the companies said. Starting October 10, Edenred Benefit users...
This year’s pilgrimage occasioned by the feast of Saint Dimitrie the New, Protector of Bucharest, will take place from October 19 to 29. The event is one of the most significant for the Romanian Orthodox Church in the capital. The faithful will be able to venerate, aside from the Holy Relics of Saint Dimitrie the […]
Classic Unlimited, the well-known organizer of classical music concerts in Romania, announced the launch of a new series of events dedicated to babies, pregnant women, and families, named Classic for Babies. Concerts with interactive sessions will take place in Cluj-Napoca (November 9), Sibiu (November 3), and Târgu Mureș (November 7), with two sessions per day, […]
More than one in three children in Romania, roughly 1.25 million, live in poverty, and the percentage rises dramatically to 75.8% for those whose parents have a low level of education, according to 2024 Eurostat data cited by Save the Children Romania. Children in rural areas face a much higher risk of poverty or social […]
Wizz Air has expanded its base at Timișoara International Airport, in western Romania, by adding a third aircraft and launching five new routes this month. The expansion marks another milestone for the carrier, which has transported more than nine million passengers to and from Timișoara since beginning operations there in 2008. Starting this week, passengers […]
Tech giant Apple announced a major expansion of its clean energy projects across Europe with new large-scale solar and wind farms under development in Romania, Greece, Italy, Latvia, and Poland. The local project is located in Galați County. Together with a newly operational solar array in Spain, the projects announced on Tuesday, October 14, will...
