The European Commission (EC) has concluded that Romania's EUR 200 million (RON 1 billion) recapitalisation of the wholly state-owned CEC Bank does not constitute state aid within the meaning of EU state aid rules, the commissiom reported on Monday.In September 2024, Romania informed the commission of its intention to recapitalise CEC Bank, with the primary goals of enhancing its lending capacity, developing the CEC Financial Group, and improving operational efficiency by streamlining workflows within the bank. Romania submitted a business plan covering the period 2025-2028, along with a long-term outlook for 2029-2032, and a report on the 'private investor test', all of which were evaluated by the commission.The commission assessed the measure under the EU state aid rules. Following its assessment, the commission found that Romania's recapitalisation of CEC Bank does not constitute state aid. EU state aid rules specify that if a member state acts as a private investor would and is compensated for the risk in a manner acceptable to a prudent private investor, the intervention does not constitute state aid.The commission's assessment of Romania's business plan indicated that the EUR 200 million capital injection would yield returns consistent with market conditions for the Romanian state, CEC Bank's sole shareholder. The business plan forecasts increased market share in lending and deposits, improved efficiency, and robust capital levels.
La French Tech Bucharest announces the third edition of its highly anticipated flagship event, Sustainability meets Profitability, set to take place on April 8th, 2025, at the Romanian - American University (1B Expoziției Boulevard, Bucharest), starting at 18:30. Sustainability meets Profitability event will explore the new regulations companies—big or small—must navigate and how they can turn […]
The builders of Romania’s important A1 Sibiu – Pitești highway are set to start the construction of a bridge over 300 meters long and at least 100 meters wide, allowing the animals of the Southern Carpathians to cross from one side to the other. The investment will pay off as a corridor for large mammals […]
The local business services industry has potential for growth, even if it will see a slower pace because the market is a mature one and given the high regional and global competitiveness, according to a report carried out by the Association of Business Service Leaders in Romania (ABSL) in partnership with Deloitte Romania. Still, the […]
Several Romanian military personnel who were on parental leave went to Congo as mercenaries, according to a statement from the Ministry of National Defense. The issue of active soldiers taking mercenary work first came up on the public agenda after PressOne...
The European Investment Bank and the government of Ukraine have agreed to allocate EUR 50 million from EIB funding to Ukraine's national railway company, Ukrzaliznytsia, for the modernization of key railway border crossings with Poland, Slovakia, Hungary, and Romania. The project includes repairs to worn-out railway tracks, the relocation of wagon inspections, the reconstruction of […]
Medicover has acquired the operations of the lab tests provider Synlab Group in Romania, Turkey, Cyprus, Slovenia, Croatia, and North Macedonia in a transaction worth EUR 71.3 million, the company announced. The transaction was financed from Medicover's own sources. It was carried out by Medicover for its diagnostic services division, present in Romania under the […]
