Almost five years since opening its first gas station in Romania, Socar Romania has posted profit, according to the 2015 results. Socar Petroleum, a local subsidiary of Azerbaijan’s national oil company, registered a turnover of RON 616.2 M last year, down 17 percent, but posted a profit of RON 2 M, according to the result […]
The Romanian state has to recover RON 190mn (EUR 38mn) from insolvent Blue Air, including the interest paid on principal debt, calculated as of now according to the Ministry of Finance quoted by Economica. However, it is not clear exactly how since it is the airline’s owner as well. The European Commission (EC) said on […]
BRD-SocGen, Romania's fourth-largest bank by assets, reported its net profit dropped by 4.6% y/y, to RON 326mn (EUR 65mn) in Q1, because of the impact of the new tax on turnover for the first quarter and the estimated cumulative contributions to the Deposit Guarantee and Resolution Funds for the whole year. The gross profit rose […]
The volume of new local currency loans extended by Romanian banks (including refinancing loans) increased by 48.0% y/y to RON29.6bn (some EUR 6bn) in Q1, according to data published by the National Bank of Romania. Most of it was retail lending. The new loans extended to households (retail lending) surged by 83.5% y/y to RON20.8bn, and […]
The European Bank for Reconstruction and Development (EBRD) announced that, besides debt recovery specialist APS, it is taking over a portfolio of "around 2,000 sub-performing and non-performing loans" with a nominal value of some EUR 400mn in Romania, sold by Piraeus Bank. The EBRD's participation in the deal is 30%. The EBRD says that the […]
The Economic Sentiment Indicator (ESI) calculated by Eurostat for Romania (105.1) reached the highest value in 12 months in April. This means that the managers and consumers expressed, to a larger extent, more positive views or expectations compared to the long-term average. "Based...
Romania’s gross general government debt reached RON841.3bn (EUR169.3bn) at the end of February after increasing by RON57.8bn (EUR11.6bn) in the first two months of the year, according to data published by the Ministry of Finance. The debt-to-GDP ratio, calculated under EU methodology*, reached 52.4% at the end of February, from 48.8% at the...
