The Romanian Court of Registration registered the capital increase – in the amount of RON 80 million – of the Romanian subsidiary of OTP Bank, on November 16th, 2010.rnrnAccordingly, the statutory capital of OTP Bank Romania S.A. has been increased from RON 462,909,120 to RON 542,909,040. rnrn“The capital increase is the proof of the shareholders’ trust in the stability of the company and the result of our successful banking strategy”, said László Diósi, CEO, OTP Bank Romania.rnrnOTP Bank Plc., as main shareholder of OTP Bank Romania, holds 2,262,117 nominative shares and participation to the capital of RON 542,908,080, representing 99.99% of the total share capital, while Merkantil Bank Zrt., with 4 nominative shares and participation to the capital of RON 960, holds 0.00017683% of the total share capital.rnrnOTP Bank Romania is member of the largest independent Central-Eastern-European banking group, OTP Group. OTP Bank provides universal financial services in Hungary, Romania, Montenegro, Croatia, Bulgaria, Russia, Ukraine, Slovakia and Serbia, for more than 12 million customers, through its branch network, which exceeds 1500 units, its ATM network and the electronic channels.rn
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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