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%.
REHAU Window Solutions officially announces the expansion on the market of aluminium window and facade systems and launches on the Romanian market the Iconic W77 system, developed in partnership with Elvial. The new aluminium solutions come as a complement to the portfolio consisting of the classic PVC systems that have won awards over the years […]
Rallies meant to show Romanians’ support for EU membership will take place on March 15 in Bucharest and several other cities. The rallies, held under the name Euromanifest, are not associated with any party or candidate. Instead, they are the result of a civic initiative organized by people who believe in democracy, freedom of expression, […]
IBM announced the opening of a new Innovation Lab in Bucharest in collaboration with Amazon Web Services (AWS). Located at the IBM Client Innovation Centre, the lab is set to serve clients from 22 countries, offering hands-on access to cutting-edge technologies, including agentic AI and generative AI solutions built using Amazon...
Hanul lui Manuc, Carul cu Bere, Curtea Berarilor, and Arcade Cafe, all very well-known restaurants located in Bucharest’s central and touristic Old Town, were temporarily closed by inspectors from the National Authority for Consumer Protection (ANPC). Inspectors found multiple violations, including improper food storage, unsanitary kitchen utensils, and frozen food with ice deposits. Fines totaling […]
Crin Antonescu, the candidate backed by the Romanian coalition made up of the Social Democrats (PSD), Liberals (PNL), and the Hungarians Alliance (UDMR), said he is “unwavering” after submitting his candidacy file for the presidential elections on Sunday, March 9. Antonescu promised he would unite and strengthen the nation in front of supporters and critics, […]
Romania’s National Meteorological Administration (ANM) announced that a mass of air containing Saharan dust will reach Romania starting on Tuesday morning, March 11. Between March 9 and 13, the southwesterly air circulation will favor the advance of an air mass loaded with dust particles of Saharan origin from North Africa towards southeastern Europe and over […]
