International rating agency Fitch has upgraded the Long-Term Issuer Default Rating (IDR) of UniCredit Bank Romania (UCBRO) to BBB from BB+, with a stable outlook, and its short-term individual default rating (IDR) to F2, from B. The viability rating (VR) has been affirmed at bb. The two-notch upgrade of UCBRO's IDRs reflects the upgrade of its parent UniCredit S.p.A on 17 December 2021 and Fitch's decision to equalise the ratings of the Romanian subsidiary with those of the parent. The rating agency says that UCBRO's standalone credit profile has improved since the last review, but remains slightly weaker than larger domestic peers, in particular, due to a still higher impaired loan ratio, weaker profitability and moderately weaker overall franchise, with the latter impacting our assessment of the bank's business profile. UCBRO is a mid-sized (fifth-largest by assets) Romanian bank, accounting for around 8.0% of sector assets, 7.5% deposits and 8.6% loans at end-1H21.
Romanian director Cristian Mungiu will be part of the jury that will judge the films in the main competition of this year’s Venice Film Festival - Venezia 82. The jury, headed by American director Alexander Payne, includes French director and screenwriter Stéphane Brizé, Italian director and screenwriter Maura Delpero, Iranian director and writer Mohammad Rasoulof, Brazilian actress, writer, and […]
Romania continues to face significant prison overcrowding, according to the Council of Europe’s latest data, released on Friday, July 18. The 2024 Annual Penal Statistics on Prison Populations (SPACE I) show that Romania is among six countries in Europe with severe overcrowding, housing 116 inmates for every 100 available places. The report, which...
Chris Hemsworth returns to Disney+ in August with a new season of the National Geographic documentary series Limitless, this time focused not just on longevity, but on discovering how to live better. Titled Limitless: Live Better Now, the three-part season follows Hemsworth through physical, emotional, and mental challenges across six countries, with one standout episode […]
The Black Sea 200 Regatta 2025, Romania’s first non-stop offshore regatta with a 200 nautical mile route, takes place between July 21 and 27. Now in its first edition, the event brings together more than 10 boats from Romania and Bulgaria, according to the organizers. The endurance course will start and finish in the Romanian […]
The National Environmental Guard has fined an illegally operating zoo in Dâmbovița county, southern Romania, a total of RON 120,000 following a joint inspection that uncovered serious violations, including the lack of environmental authorization and inadequate conditions for wild animals kept in captivity. The zoo was reportedly charging RON 50 per person for entry and […]
The National Cybersecurity Directorate (DNSC) and engineering company Enevo Group have signed a strategic cooperation agreement to strengthen cybersecurity in Romania’s energy sector. The partnership aims to test and develop monitoring and alerting technologies for cyberattacks, and to improve national response coordination to incidents affecting critical infrastructure, the companies said. The agreement focuses on sharing […]
