BANCI | ENGLISH

JPMorgan: Greek banks’ potential withdrawal from Romania would not pose a major problem

Autor: Bancherul.ro
2011-06-24 09:24

Greek banks’ potential withdrawal from Romania would not pose a major problem to the local banking sector, because the authorities have the necessary resources to take over the subsidiaries and sell them to other financial groups later on and the National Bank of Romania (BNR) is able to absorb the shocks, reads a report released by JPMorgan Chase Bank, London yesterday.

‘We do not see a possible withdrawal of Greek banks from Romania as a major problem for the country’s banking sector given the fact that Greek parent-banks’ financing only amounts to 3.5 per cent of GDP. The authorities have the necessary resources to take over the subsidiaries and sell them on to other foreign financial groups. The central bank’s reserves of almost 30 per cent of GDP are enough to compensate any possible withdrawal of funds’, the report further notes.

The analysts say BNR can manage the risks associated with the Hellenic banks whose Romanian subsidiaries do not actually have an exposure of their own to Greece’s sovereign debt and which are well capitalised. Developments in Greece have, indeed, hit the RON lately, but the currency has been also affected by the rising global investor aversion to risk, JPMorgan notes.

The bank anticipates that, in the upcoming period, the RON would return to the rate of 4.1/EUR before the current period of depreciation. The local currency has had the poorest performance in the region and has suffered an exaggerated fall, say the analysts of the financial institution. BNR’s reference exchange rate was RON 4.2294 to the EUR, down by 2.23 centimes compared to Wednesday.

With regard to the economic outlook, JPMorgan estimates the Romanian GDP will grow by 2 per cent this year, with the biggest risk for the local economy being the recent slow-down of global economic activity.

Comentarii

Adauga un comentariu

Adauga un comentariu folosind contul de Facebook

Alte stiri din categoria: ENGLISH

Merger of Alpha Bank and UniCredit Bank Romania

Press Release: "Alpha Services and Holdings announces a strategic partnership with UniCredit in Romania Merger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by total assets, with Alpha Bank retaining a detalii

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

NBR Board decisions on monetary policy In 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 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 detalii

BT Financial Results as at 30 September 2022

BT Financial Results as at 30 September 2022 Banca Transilvania – sustained growth in customers and operations during the first nine months of the year "We continued our robust growth in the number of clients and transactions, with a dynamic well above the market average. We have been growing steadily and continued financing companies and individuals, despite the fact that the financial market is more fraught with uncertainty than ever and
the funding costs and capital requirements are additional factors driving the uncertainty in the economy. We remain committed to our objective - to be the main supporter of the economy and of the state for the development of Romania", states Mr. Ӧmer Tetik, Chief Executive detalii

Vezi toate stirile

25.04.2024

1 EUR = lei
1 USD = lei

Sursa BNR

Profil de Bancher

Ramona Ristea, Director General Adjunct
Credit Agricole Bank

... vezi profil

Toate Profilele

Profil de Banca

EximBank

vezi detalii

Toate Bancile

Filmul Parking, un cliseu plictisitor

Toate stirile

ING Bank

Toate stirile

Ultimele Comentarii

Refuz de plată la o benzinărie suma de 103 euro
Mi s-au retras de două ori suma de 48 euro și suma de 103 euro suma corectă este de 48 de euro ... detalii
nevoia de banci
De ce credeti ca acum nu mai avem nevoie de banci si firme de asigurari? Pentru ca acum avem ... detalii
Mda
ACUM nu e nevoie de asa ceva .. acum vreo 20 de ani era nevoie ... ACUM de fapt nu mai e asa multa ... detalii
oprire pe salariu garanti bank
mi sa virat 2500de lei din care a fost oprit 850 de lei urmand sa mi se deblocheze restul sumei ... detalii
Amânare rate
Buna ziua, Am rămas în urma cu ratele , va rog frumos sa ma ajutați cumva , soțul a pierdut ... detalii

Nume	*
E-mail	*
E-mail prieten	*
Mesaj
Cod validare	*
	Tastati codul din imagine (doar cifre)
	195.154.184.126