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.
Travelers planning to take advantage of Romania’s inclusion in the Visa Waiver program will have to pay around EUR 250 for a one-way plane ticket to the United States. Romania was formally designated the 43rd country to join the US Visa Waiver Program (VWP) on Friday, January 10. As a result, Romanians will...
Prime minister Marcel Ciolacu, the leader of the ruling Social Democratic Party (PSD), announced plans to initiate a legislative project for Romania's administrative and territorial reorganization during the parliamentary session set to begin in February. Speaking at the PSD headquarters on Monday, January 13, Ciolacu revealed that a dedicated working group has been established to […]
The Romanian Cultural Institute (ICR) is organizing through its branches abroad a series of events "celebrating prominent figures of Romanian arts and culture" to mark the National Day of Culture, celebrated every year in Romania and the Republic of Moldova on January 15. It coincides with the birth date of the national poet Mihai Eminescu […]
Former liberal leader Crin Antonescu (picture, right), the candidate announced by the coalition formed by the Social Democratic Party, the National Liberal Party, and Hungarian minority party UDMR for the presidential elections, stated that far-right politician Călin Georgescu (picture, left) should be able to run in the upcoming elections. According to the schedule agreed by the […]
The Bucharest Authority for Animal Surveillance and Protection (ASPA) has announced the restart of its free sterilization campaign for common-breed dogs and cats. Starting in January 2025, residents of the capital city can benefit from this initiative aimed at promoting responsible pet ownership and controlling the pet population. For common-breed dogs with owners, sterilizations will […]
Jaqueline Cristian is the first Romanian player to qualify for the second round of the 2025 Australian Open. She claimed a hard-fought victory against Croatia's Petra Martic in the first round on January 13, winning in three sets 6-2, 4-6, 7-6 (10/7). Monday's match lasted two hours and 35 minutes, according to
