Multinational banking and financial services company PKO Bank Polski officially commenced operations in Romania on January 1, 2025. The establishment of its corporate branch in Bucharest marks a significant milestone in the bank’s international expansion strategy for 2025-2027. This move aligns with PKO Bank Polski’s goal of strengthening its presence in Central and Eastern Europe, with Romania being identified as a key
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Deutsche Börse Group’s Clearstream, the innovative and trusted post-trade business for the global markets, opened a Euro route to the Romanian bond market. BRD Groupe Société Générale acts as local depository partner for Clearstream, connecting in turn to the Romanian central securities depository (CSD), Depozitarul Central. International investors can now invest directly in EUR-denominated government and corporate bonds via their existing Clearstream
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Romania imported a quantity of usable natural gas of 1.361 million tons of oil equivalent (toe) in January-September 2024, down 10.9% on an annual basis, data by the National Institute of Statistics (INS) showed. The domestic production of natural gas totaled, in the period under review, 5.635 million toe, up 0.8% y-o-y. The domestic production of natural gas will increase, between 2024
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Sofia-headquartered tbi bank joined forces with DAW Management, one of Romania’s largest insurance brokers. As a result, Romanian clients can purchase insurance, including mandatory RCA policies, through the Buy Now, Pay Later (BNPL) solution, and pay in four interest-free installments or 6-12 installments with interest. Amid an environment where everything has become more expensive insurance policies prices make no exception. This is
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InterCapital Asset Management, Croatia’s largest independent investment manager, aims to launch a new ETF at the Bucharest Stock Exchange (BVB), offering investors access to Romanian EUR-denominated government bonds. ETFs or “exchange-traded funds” are similar to mutual funds in that they invest in a basket of securities, such as stocks, bonds, or other asset classes. The InterCapital EUR Romania Govt Bond 5-10yr UCITS
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Romanian state-owned CEC Bank raised 300 million euro through a bond issue that was more than twice oversubscribed, the 160-year old lender announced on Friday (Nov. 22, 2024). The senior non-preferred, euro-denominated bonds were issued under the bank’s euro medium-term note (MTN) programme and were approved by Luxembourg’s financial market regulator (CSSF) following the update of the base prospectus on Nov. 18, 2024.
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The Romanian Commodities Exchange (BRM), the oldest private operator of commodity trading platforms in Romania, officially started its activity in the Republic of Moldova, contributing to building a competitive, transparent and non-discriminatory energy market, Moldpres reported on Oct. 25, 2024. BRM had already launched in May 2024 BRM East Energy, now renamed BRM East, a subsidiary, in the neighbour country. Earlier this
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Romania-based Fondul Proprietatea in first nine months of 2024 made RON209.6 million net profit, compared with a loss of RON968.9 million in January-Sepetember 2023. Fondul was established in 2005 and seeded with stakes in state groups as a way of trying to compensate the persons abusively expropriated. Starting 2010, US investment firm Franklin Templeton has been the Sole Director of the Fund.
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Romanian gas and energy giant Romgaz is set to list its first bond issue worth EUR 500 million on the Bucharest Stock Exchange (BVB) on Nov. 19, 2024 as it seeks to finance the Neptun Deep Black Sea offshore project that it is developing in collaboration with OMV Petrom. Last month, Romgaz issued the first tranche of 5-year international bonds, worth EUR
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Foreign exchange (forex) reserves in Romania stood at EUR 62,841 million, compared to EUR 65,778 million on 30 September 2024, according to data released by the central bank on Friday (Nov. 1). During the month, the following flows were recorded: EUR 2,801 million worth of inflows representing: changes in credit institutions’ foreign currency-denominated required reserves with the NBR; inflows into the Ministry
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