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.
Graffiti Plus (GRF+), active in Romania's communication consulting market, has signed the contract for the National Recovery and Resilience Plan (PNRR) funding for its listing on the AeRO market of the Bucharest Stock Exchange (BVB). GRF+ is also preparing to launch the private financing round it is conducting as a first step toward its debut […]
The wooden church from the village of Oncești, one of the oldest monuments in the heritage of the Maramureș Village Museum “Mihai Dăncuș” in Sighetu Marmației, has been restored. The church has now returned to the tourist circuit through the support provided by the US Ambassadors Fund for Cultural Preservation, in a project coordinated by […]
The Bucharest Stock Exchange (BVB) announced the establishment of its Corporate Governance Committee on Thursday, December 4, to support the implementation of the revised 2025 BVB Corporate Governance Code. Romania’s capital market recently celebrated 30 years of activity and is undergoing significant corporate governance reform. The revised BVB Corporate...
Daniel Băluţă, the mayor of Bucharest's District 4, signed the order to start work on the extension of the M4 subway line on Thursday, December 4. The investment is valued at EUR 3.5 billion and the route will be 11 kilometers long, between Gara de Nord and Gara Progresul railway stations. The extension will have 14 […]
Ten entrepreneurs and executives have launched Food Angels Hub, a community of investors dedicated to the food sector. The aim of the hub is to “develop and scale functional and profitable companies in the food, hospitality and food-tech sectors” and “turn Romania into a reference point for food innovation in the CEE region.” The founders […]
Romanian developer IULIUS announced that it secured a syndicated loan facility amounting to over EUR 305 million for its Palas Iași mixed-use complex. The financing is provided by a consortium made up of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will support the remodelling of Palas Iași […]
