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 Polish electronic recycling group Polish Elemental Holding entered the Romanian market by taking over an 80% stake in the small-sized local player, ACC Recycling Services. It also announced it is developing a EUR 20 million factory in Deva, according to Ziarul Financiar. The project is partly financed...
Two Romanian electricity utility companies, Electrica (BVB: El) and Renovatio Trading, will receive EUR 6.4 million in grants under a EUR 103 million scheme financed under the National Recovery and Resilience Plan (PNRR) to develop power storage capacities of 130MWh. The Romanian electricity distributor and supplier Electrica (BVB: EL) will receive EUR 3.4 million for […]
The new European Commission must come up with "a much more sustainable approach for the car industry" because otherwise, in the next two years, a large number of jobs will be lost, Romanian prime minister Marcel Ciolacu said on October 17. The Romanian prime minister emphasized that the engine of the European economy is this […]
The city of Timişoara, in western Romania, and the World Monuments Fund (WMF) signed on Thursday, October 17, the memorandum of understanding for the rehabilitation of the Fabric Synagogue. The synagogue is the only historical monument in the country that the New York-based WMF included in 2022 on the list of cultural sites whose preservation […]
The biggest contributor to burnout – and we do have a burnout epidemic across the world nowadays – is work stress. Many people believe it’s mainly their fault, that it’s in the way they do things, their personality, or something very personal indeed. They couldn’t be more wrong. Because the single most impactful factor in […]
Over 300 guitarists from across the country are gathering in Timișoara, western Romania, to simultaneously perform 17 songs alongside several well-known artists within the Timișoara Guitar Day – One City. One Day. One Guitar Love event. The moment is scheduled for Saturday, October 19, at 4:00 PM at Faber, Splaiul Peneș Curcanul 4-5, Timișoara, with […]
