Raiffeisen Bank Romania reported a net profit of RON 820 million for the first six months of 2024, down 6% year-on-year, the bank announced on Tuesday."In the first half of the year, we systematically continued to accelerate financial planning services to support our clients in building a better future. We launched MoonShotX, a project that facilitates the expansion of businesses in Romania at regional level. We introduced a new card that combines digital payment services with our long-term commitment to community support. We have invested in innovative technologies based on Cloud and AI, which help us redefine and optimize operations so that our teams can focus on personalized 1:1 interaction with our clients," according to Raiffeisen Bank Romania President & CEO Zdenek Romanek.Raiffeisen Bank Romania's assets reach RON 74 billion in H1 2024, an increase of 12% year-on-year. Revenue growth at 8% year-on-year. Operating expenses have increased by 12% year-on-year, reflecting investments in employee training, retention of well-qualified staff, expansion of the team in key areas, as well as the modernization of IT infrastructure, digital transformation projects, and the continuous improvement of applications and solutions offered to clients.Customer deposits (RON 57.20 billion) continued to strengthen with a 9% year-on-year increase, showing positive variations across all customer segments.The loan stock reaches RON 40,9 billion. After a beginning of the year in which the demand for loans in the market was rather modest, the second quarter saw a rebound in the balance of loans granted to companies (+5% compared to the previous quarter), especially in the area of corporate customers.In terms of the evolution of volumes originated in the first half of 2024 to individuals, personal loans increased by around 40% and mortgage loans increased by around 22% compared to the same period of the previous year.The capital adequacy ratio was 22.08%, well above the minimum required by the NBR (17.81%). Non-performing exposures remained at a low level (1.69%) and the liquidity coverage ratio (LCR) was at a comfortable level (249%), well above the regulatory minimum (100%). At the same time, own funds, and eligible liabilities (MREL) stood at 35.93%, significantly above the regulatory requirements applicable as of June 30, 2024 (32.00%).Through collaboration with the European Investment Fund, Raiffeisen Bank Romania continues to support SME financing with two guarantee schemes worth 400 million euros, the largest investment plan in recent years dedicated to Romanian SMEs.In June, the European Investment Bank (EIB) signed a new guarantee agreement with Raiffeisen Bank under the Recovery and Resilience Facility. This agreement enables Raiffeisen Bank Romania to mobilise EUR 250 million for financing mid-to-large scale investment projects, especially in climate action and digital transformation sectors.This new agreement marks an important milestone in the nearly 15-year partnership with the EIB, during which over EUR 1 billion have successfully been channeled into projects that improve financing access for SMEs, enhancing their competitiveness and supporting their transition to a sustainable future.
President Nicușor Dan has nominated Senate president Ilie Bolojan, a leader of the National Liberal Party (PNL) and former interim president, for the prime minister seat. Dan said Bolojan is “the best person to carry out the needed adjustments in the state administration.” He pointed to Bolojan’s track record with reducing spending, and said he has […]
Balkanik Festival – Home of World Music, set to take place at Uranus Garden between September 5 and September 7, lines up this year artists who "celebrate that form of joy that does not ignore reality, but faces it with beauty, energy, and solidarity," the organizers said. The artists performing in September in Bucharest will […]
The mayor of Timișoara, Dominic Fritz, announced on Friday, June 20, that two new bridges over the Bega River will be built in the city. The bridges will be financed with EU-backed funds worth over RON 130 million. The bridges in question are the Solventul Bridge, which will connect Gării Street to Dâmbovița Boulevard and […]
A Sarmatian necropolis nearly 2,000 years old was discovered after archaeological excavations were carried out at the Mehala II site in the municipality of Timișoara, in western Romania. Researchers discovered 15 inhumation graves, most arranged in rectangular pits with rounded corners, although some no longer retain their original outline, having been disturbed by the passage […]
The George Enescu Philharmonic Orchestra will deliver on June 26 a concert marking Romania Day at the Osaka World Expo. Additionally, the Bucharest-based orchestra will present a series of other concerts and recitals, both within the Romanian Pavilion and outside, at Toyonara Hall in Osaka. The George Enescu Philharmonic Orchestra's concerts will be conducted by […]
Sphera Franchise Group, the largest food service group in Romania, has opened its first Cioccolatitaliani store in the seaside resort of Riccione, in Italy’s Rimini tourist area. This marks the official launch of Sphera Group’s development plan for the premium Italian brand of coffee, gelato, and pastry. Under the plan, it will open four locations […]
