Emporiki Bank – România sustain the availability of the additional deeds communicated to the existent loan customer portfolio. rnrnConsistent with the customer oriented transparency policy, Emporiki Bank, member of the French Group Crédit Agricole, announce that the additional deeds sent to the existent loan customer portfolio, as per Emergency Ordinance no. 50/2010 provisions, will remain in force, said the bank in a press release.rnrnPrior to the Ordinance 50 becoming in force, Emporiki Bank was granting loans calculating the interest rate in a transparent way based on Euribor, Libor and Robor reference indicators. According to EO 50 was eliminated the early repayment fee and agreed to calculate a single commission.rnrnBank’s strategy is focused on providing quality services, as mentioned by the CEO of Emporiki Bank, Mr. Pierre Martin in the New Year message to bank customers: „…Our goal is to become the main financial partner of our customers, to build on a lasting business relationships, the only concern of bank employees is to provide quality service”.rnrn***rnrnEmporiki Bank – Romania S.A., member of the French Group Crédit Agricole, operates on the Romanian banking market since 1996. Through a network of 34 branches located in the major cities in the country, Emporiki Bank – Romania offers a wide range of banking products and services for individual customers, small and medium enterprises (SMEs) and large companies. The main shareholder of Emporiki Bank – Romania, holding 99.58% of the capital, is Emporiki Bank of Greece, member of the French Group Crédit Agricole.rnrnCrédit Agricole is the leading retail bank in France (source: Banque du France), in Europe and ranked three worldwide by value of assets (source: The Banker, July 2010). Crédit Agricole Group, one of the largest banking groups in the world, is present in 70 countries through 11,500 branches in which 160,000 employee works to meet the financial needs of the 59 million customers. Crédit Agricole Group is the main shareholder of the Hellenic bank Emporiki Bank, holding 91% of the capital.
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The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank
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NBR Board decisions on monetary policyIn its meeting of 4 April 2023, the Board of the National Bank of Romania decided:• to keep the monetary policy rate at 7.00 percent per annum;• to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum;• to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and electricity prices, under the impact of significant base effects and the change made to the energy price capping and compensation scheme starting 1... detalii
ING press release:ING posts FY2022 net result of €3,674 million,proposed final 2022 dividend of €0.389 per share 4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%•Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income•Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter•Risk costs declined to 17 bps of average customer lending Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits•On a full-year basis, our primary customer base grew by 585,000•Net core lending growth of €18 billion and net core deposits growth of €25 billion in 2022•Net result of €3,674 million in a challenging year; proposed final 2022 dividend of €0.389 per share CEO statement“Looking back, 2022 was... detalii