PKO Bank Polski, Poland’s largest bank by assets, is set to begin its operations in Romania from early next year. The Polish banking giant’s entry into the Romanian market is driven by the record profitability rates of banks in Romania. In Romania, PKO will exclusively work with corporate clients (SMEs and large companies). The bank will also facilitate financial operations for Polish companies and other international clients looking to start or already operating in the country. PKO Bank Polski has confirmed to wall-street.ro that it will kick off operational activities at its Romanian branch in early 2024. The bank’s attraction to the Romanian market is fueled by the fact that financial institutions in Romania have the highest return on equity (ROE) within the European Union. Compared to Polish banks, Romanian players exhibit double the ROE. “The Romanian banking sector is predominantly owned by European foreign capital banking groups, with almost 70% of the market. The profitability in the Romanian banking market is also high, as demonstrated by the ROE. Romania has consistently ranked among the top countries in the European Union in this regard,” stated representatives from PKO Bank Polski. PKO Bank Polski will not serve individual customers, but aims to assist Polish companies Polish companies have a significant presence in Romania, with over 1,200 firms operating in the market. Representatives from PKO Bank Polski have expressed their desire to act as a bridge between the Romanian market and Polish companies seeking to enter Romania. “We have been monitoring the Romanian market for some time now. Romania’s economy is growing rapidly. Many Polish companies are already investing in the Romanian market, and for some, Romania has become a second home market. The Romanian branch will focus on providing banking services to companies. Currently, the bank has no plans to enter the retail banking sector in the Romanian market. Our main goal is to be the top choice for leading Polish firms and SMEs. Of the top 10 banks in Romania based on asset levels, eight have no presence in the Polish market. This presents an opportunity for PKO Bank to bridge the economies of both countries,” emphasized representatives from PKO Bank. PKO Bank Polski expressed its interest in entering the Romanian market in late 2021, as per the Registry of Credit Institutions published by the National Bank of Romania (BNR). Representatives of the Polish bank noted that the banking regulatory requirements in Poland differ from those imposed by the BNR.
The restructuring plan laid out by Liberty Galați was validated by the Galați Court on Friday, August 1, after having been approved by 52% of the ailing plant’s creditors last month. The plan, approved by creditors and confirmed by the Galați Court, sets out firm measures to restructure both the company’s operational activity and the […]
Animest, Romania’s leading animation film festival, returns to Bucharest this autumn with a special 20th anniversary edition. Running from October 3 to 12, the festival invites audiences to explore the theme of "the journey” - a metaphor for both its two-decade history and the personal, emotional paths traced through animated storytelling, the organizers said. Last […]
An article delving into the benefits of hydrotherapy, published by the famous US newspaper The New York Times, features a recommendation for six wellness centers, including Romania’s Therme center. According to the article, “studies show that immersion in water, hot or cold, can calm the nervous system, reduce joint pain and inflammation, stimulate circulation, lower […]
Plastic surgeon Tiberiu Paul Neagu, head of the Burns Center at Floreasca Hospital, one of the major hospitals in Bucharest, was dismissed on Monday, August 4, after a patient was transferred to Belgium following multiple multi-resistant hospital-acquired infections. The scandal broke out when a patient with burns over 70% of her body, who had been […]
The Buzău Land/Ținutul Buzăului UNESCO Global Geopark has received high praise from evaluators following a three-day official visit aimed at assessing its progress and determining whether the site will retain its UNESCO geopark status. The visit, conducted in June by Goran Radonic (Croatia) and Iván Cortijo Sánchez (Spain), concluded with positive feedback for the geopark […]
One United Properties (BVB: ONE), a publicly listed developer that has so far been focused on Bucharest, announced the signing of a promissory sale and purchase agreement for land located in a prime central area of Sibiu. The site, located on the former FLARO industrial platform, offers significant potential for urban regeneration, according to company […]
