BANCI | ENGLISH

Erste says largest Romanian lender BCR is not in need of financing from the state

Autor:

Publicat la: 2009-02-21 12:10 Ultima actualizare: 2009-02-21 12:10

Austria’s Erste Bank, the majority owner of Romania’s largest lender by assets BCR, does not require or solicit any financing from the Romanian state for BCR and will support its cash-strapped customers, according to Erste executive president, Andreas Treichl. rnrnBCR is a solid and well capitalized bank and Erste will continue to supply it with capital and financing, said Treichl in a release sent to NewsIn, adding that both BCR and Erste will stand by their obligations and responsibility to finance the Romanian economy. rnrnThe executive president of the Austrian group explained the bank is ready to help its clients who might be facing difficulties in the current economic background. rnrnMass-media in Austria commented upon a tour of Finance Minister Josef Proell in the region, saying states like Romania are too proud of their economic performances and too confident the financial turmoil will by-pass them, which is why they were reluctant and uninterested by Vienna’s plan to protect Austrian lenders. rnrnMoody’s rating agency warned that Austrian and Swedish banks with subsidiaries in Eastern Europe could see their ratings down as economies in the area deteriorate. rnrnThe BCR group posted a net consolidated profit after taxes and minority interests of 1.25 billion lei (341.5 million euros) for the third quarter of 2008, a 71.8 percent boost on the similar period of 2007.rn

Taguri:

Comentarii

Nu există comentarii pentru această știre.

Adauga un comentariu

Alte stiri din categoria: ENGLISH

Neutral interest rate in Romania

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

Merger of Alpha Bank and UniCredit Bank Romania

Press Release:"Alpha Services and Holdings announces a strategic partnership with UniCredit in RomaniaMerger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by... detalii

National Bank of Romania (NBR) Board decisions on monetary policy

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 posts 2022 net result of €3,674 million, dividend of €0.389 per share

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