Banks in Romania granted personal and corporate loans to the tune of almost RON 114 billion in the first eight months of 2024, up 28% year-on-year, according to data gathered under #Dreptullabanking.ro campaign conducted by banks in Romania.The value of new personal and corporate loans in the first eight months of 2024 made up 27.9% of the August 2024 balance of non-governmental credit. The balance of non-governmental credit, which totalled RON 407.89 billion at the end of August, is calculated as the difference between the total new personal and corporate loans and partial and total repayments, as well as credit sales."Developments in non-governmental credit in the first part of the year confirm a growing public appetite for loans as it accessed 56.4% of the value of new loans, and a constant support that banks in Romania provide to companies. Thus, in the first eight months of 2024, loans of almost RON 50 billion were granted to companies. The breakdown by currencies reveals that in the first eight months of this year, 82.7% of the loans were denominated in the local currency, the leu (RON), 16.38% in euros and 0.92% in US dollars, which shows confidence in the national currency and contributes to reducing currency risk," according to a #Dreptullabanking.ro press statement released on Monday.The banking system in Romania is in an adequate prudential and financial state, with most of its indicators being above the averages of the banking sectors elsewhere in the European Union. The banks in Romania are solid and well capitalised, the solvency ratio reached 24.05% in June 2024, three times above the required minimum. In terms of liquidity, indicators are at comfortable levels and, in addition, the balance sheet structure of banks is oriented towards liquid assets. The liquidity coverage ratio stood at 286.05%, according to March 2024 data, while the European average was 167.1% in December 2023.The provision coverage of non-performing loans was 65.94% in March 2024, much higher than the December 2023 European average of 42.3%, thus securing stability and resilience. The NPL ratio was 2.49% in June 2024, a small difference from the European average of 1.9%.Banks have enough room for manoeuvre to increase lending on a sustainable basis, with all indicators indicating stability, liquidity and resilience being adequate.
Estonian cinema will take center stage at the 24th edition of the Transilvania International Film Festival (TIFF) in the Focus Estonia program, presenting a curated selection featuring both recent releases and rediscovered classics, screened in restored versions. Among the films to be screened is Moonika Siimets' The Black Hole (2024), a dark sci-fi comedy inspired […]
The ITH Group, which includes the portals Vola.ro, Fru.pl, and GoVola.com and operates in Romania, Poland, and Bulgaria, announced the direct integration of LOT Polish Airlines flights into its own platforms. The collaboration strengthens the group’s position as a regional leader in flight ticket distribution, according to its press release. This will be achieved through […]
In a ruling handed down on Tuesday, May 13, the Bucharest Court of Appeal rejected a request by US authorities for the extradition of a 17-year-old Romanian student. The youth is accused of sending hundreds of bomb threats and manipulating underage girls into engaging in acts of extreme violence, sexual exploitation, and self-harm. Aside from […]
Accor, a global leader in hospitality, has announced the expansion of its presence in Romania by signing a franchise agreement with Amazonia Aquapark SRL for Novotel Timișoara. The newly built hotel is scheduled to open by the end of 2027, marking the brand's first property outside Bucharest and becoming a flagship for Novotel in Eastern […]
A survey published on Wednesday, May 14, by the Open Minds Association shows that Romanians strongly support respect and mutual support in the workplace, signaling that the business environment can play a critical role in supporting social unity. According to the first data set from the “Diversity and Inclusion Barometer,” May 2025 edition, 81% of […]
Eight of the largest business organizations active in Romania have voiced their concern over the accelerating deterioration of the business climate and the erosion of Romania’s credibility. The call is signed by AmCham Romania – American Chamber of Commerce in Romania, AOAR – Association of Romanian Businessmen, AHK – Romanian-German Chamber of Commerce and Industry, […]
