Business Review

Eurobank EFG, the Greek lender holding the largest stake in Bancpost, reported a negative EUR 3.5 million for banking operations in Romania, with total assets amounting to EUR 4.85 billion. The bank registered an operating income of EUR 131 million, with operating expenses totaling EUR 78.5 million.

Ovidiu Posirca

The Romanian subsidiary of the Greek Alpha Bank posted an operating income of EUR 93.1 million for the first semester of 2011, which is a 20 percent decrease to the similar period of 2010. Meanwhile, operating expenses gained 2.8 percent in the first semester of 2011, reaching EUR 46.7 million.
Ovidiu Posirca

The Economic Sentiment Indicator (ESI) for Romania moderately increased in retail trade, while the manufacturing industry, constructions and services should remain stable, shows a survey conducted by the National Statistics Institute.

Ovidiu Posirca

The Romanian Oltchim chemical company has issued an official statement announcing that cost containment measures that were implemented as of August will also continue in September. The company can't finance its working capital and there is a lack of raw materials.

Ovidiu Posirca

Romania has recorded a deficit of 2.09 percent of GDP or RON 11.4 billion, for the first seven months of 2011, according to official data from the Finance Ministry.

Ovidiu Posirca

Romania has approved the sale of a 20 percent stake in state-owned airline company Tarom, in accordance to the agreement signed with the IMF, European Commission and World Bank.

Ovidiu Posirca

In June 2011, the index for industrial new orders in EU 27 decreased by 0.3 percent, after an increase of 1.2 percent in May, according to data from Eurostat. Excluding ships, railway and aerospace equipment, for which changes tend to be more volatile, industrial new orders declined by 2.2 percent in the EU27.

Ovidiu Posirca

Corporate loans and deposits are picking up according to recent data from the Romanian National Bank. While household loans decreased by 5.2 percent year on year, a significant increase was recorded in household deposits.  

Ovidiu Posirca

Eureko Insurance registered in the first six months of 2011 a 9.6 percent increase in the volume of gross written premiums to RON 22 million, compared to the similar period of 2010.

Ovidiu Posirca

OTP Bank Romania posted a profit of EUR 5.5 million in H1, up from a negative EUR 7.4 million in the first half of 2010. Total income reduced by 1 percent to EUR 40 million. Net interest income increased by 8 percent to EUR 33 million, in the first half of 2011.

Ovidiu Posirca