Banca Transilvania (BT), the financial group that includes Romania's largest lender by assets, announced that it extended 63,000 new loans amounting to RON 6,357 mln in Q1 this year, 61% more compared to the same period last year. The number of transactions for both the individuals and legal entity customers across all BT channels was 35% higher compared to the same period of 2021. The net interest income increased by 22% for the bank (to RON 810 mln) and by 29% (to RON 969 mln) for the entire group. The bank also launched Code Crafters, a company through which it increases its IT solutions development capacity. "The bank's activity and income are above the forecasted levels and above the budget, and the net result is in line with the budget. We are pleased that the Romanians have continued with their plans and that BT has sustained the growth both in lending and in operations," commented Ömer Tetik, CEO, Banca Transilvania. The financial group's bottom line was significantly impacted, however, by the net impairments that turned from a positive value in Q1 last year (release of provisions) to negative this year. Thus, the financial group posted a net profit of RON 400 mln (EUR 80 mln), 39% smaller compared to the same period last year, out of which RON 307 mln (EUR 61 mln, down 47% YoY) was generated by the bank. BT Financial Group's assets reached RON 128.3 bln, and its net loans increased to RON 58.6 bln. Separately, BT announced that RON 800 mln, representing about 45% of 2021 profit, will be distributed as a dividend. The gross dividend/share is approximately 0.12 RON, equivalent to a yield of 5%.
Agra Asigurări, the national leader in agricultural insurance, announces record claims in the first 6 months of this year. As of June 20, 2025, more than 3,300 damage notices have been registered due to extreme weather events nationwide, marking an increase of nearly 50% compared to the entire period of 2024. In total, amid the […]
In a significant recognition of Romania's financial market progress, MSCI, one of the major global index providers, has upgraded Romania's capital market classification to an Advanced Frontier Market. The decision follows MSCI's 2025 Global Market Accessibility Review published earlier this month and represents...
From music festivals to cultural happenings and outdoor activities, here are some of the events scheduled to take place in the capital this summer. Tom Jones concert June 26 After a sold-out concert two years ago, Tom Jones returns to Bucharest with an event that is part of the Defy Explanation tour. It will be […]
The "Vară Magică" (Magical Summer) International Festival returns to the Romanian Athenaeum in Bucharest with eight evenings of classical music, taking place from July 2 to August 13 every Wednesday. Now in its 14th edition, the festival continues its artistic direction in 2025 with the theme "Masters and Masterpieces," meant to signal a musical journey […]
The Romanian Chamber of Deputies adopted a draft law establishing the year 2026 as the "Constantin Brâncuși Year” to celebrate the famous sculptor. The law, initiated by former culture minister and Social Democratic deputy Natalia Intotero, passed with a large majority, with 275 votes in favor and one vote against. Next year also marks the […]
Romanian president Nicușor Dan met with UK prime minister Keir Starmer on Wednesday morning, June 25, on the sidelines of the NATO summit in The Hague. The meeting brought together Romania’s full official delegation, including presidential security advisor Cristian Diaconescu, newly appointed foreign minister Oana Țoiu, defence minister Ionuț Moșteanu, and Romania’s permanent representative to […]
