InterCapital Asset Management (ICAM), a leading Croatian investment manager with €650 million in assets, has launched its second Exchange Traded Fund (ETF) on the Bucharest Stock Exchange (BVB), marking a significant milestone for Romanian investors. The InterCapital SBITOP TR UCITS ETF (ICSLOETF) provides direct exposure to Slovenia’s primary equity benchmark, the SBITOP TR index, a first for the Romanian market. This index
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Moody’s Ratings on Friday (March 14) revised the outlook for the Government of Romania to negative from stable, while affirming its long-term Issuer and Senior Unsecured Ratings at Baa3. The Senior Unsecured MTN Rating is also affirmed at (P)Baa3, and the short-term issuer ratings remain at Prime-3. The shift to a negative outlook is driven by concerns over Romania’s fiscal trajectory. Moody’s
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The European Investment Bank (EIB) has provided a €75 million guarantee to Postbank, a subsidiary of Greece’s Eurobank Group, aimed at expanding financing options for mid-sized companies in Bulgaria. This initiative is set to unlock up to €150 million in new loans, supporting business growth, innovation, and economic stability in the country. Enhancing Access to Affordable FinancingUnder this risk-sharing agreement, the EIB
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ING-GRAD d.d., a leading Croatian construction company, has officially debuted on the Zagreb Stock Exchange (ZSE) following the successful completion of its initial public offering (IPO). All 3,990,000 shares have been listed on the ZSE, with official trading commencing on Monday (March 10). The IPO was met with significant investor enthusiasm, selling out at the maximum price of €46 per share, resulting
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Moldova and North Macedonia officially joined the geographical scope of the Single Euro Payments Area (SEPA) on March 6, following a positive decision by the European Payments Council (EPC). This milestone marks a significant step in the financial integration of both countries with the European payment system. With SEPA membership, payment service providers (PSPs) in Moldova and North Macedonia can now adhere
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The global bond market experienced a sharp selloff as the benchmark 10-year Japanese government bond (JGB) yield surged past 1.5%, reaching its highest level since June 2009 in Tokyo trading on Thursday. This comes just a day after the 10-year German Bund yield—a key global borrowing cost benchmark—saw its biggest single-day rise since the 1990s, triggered by Berlin’s decision to unlock hundreds
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Moldovan lender Victoriabank has successfully finalized its merger with BCR Chișinău, marking a significant milestone in the country’s banking sector. The acquisition, originally announced in 2024, represents the first instance of a local Moldovan bank fully acquiring another domestic banking institution, a move that reinforces Victoriabank’s leadership in the financial market. With this merger, Victoriabank is strengthening its presence in Chișinău and
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The National Bank of Romania (NBR) today announced an increase in the country’s foreign exchange reserves, reaching EUR 62,593 million as of February 28, 2025, up from EUR 60,837 million at the end of January 2025. This growth contributes to Romania’s total international reserves (foreign currencies and gold) reaching EUR 71,764 million, compared to EUR 69,810 million in the previous month. The
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Bulgaria’s Financial Supervision Commission (FSC) has approved the prospectus for a 2.5 million euro ($2.6 million) three-year bond issued by Bulgarian investment company TIZ Invest, paving the way for its trading on the regulated market. The FSC has registered the bond, issued last May, in its register of public companies and other securities issuers, according to a statement released on Wednesday (Feb.
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Alpha Bank, Greece’s fourth-largest lender by market value, has announced the acquisition of Cypriot financial institution AstroBank for €205 million. The deal, revealed on Thursday (Feb. 27), is set to reinforce Alpha Bank’s presence in the Cypriot banking sector. The acquisition will be executed through Alpha Bank Cyprus, the Greek lender’s subsidiary on the island, and is expected to be finalized in
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