BANCI | ENGLISH

Positive outlook for Romania’s economy: the GDP’s annual growth rate revised at 2.9% by Garanti Bank

Autor: Bancherul.ro
2014-07-22 10:27

Garanti Bank, one of the most innovative and dynamic banks on the local market, revised the Gross Domestic Product (GDP) growth expectations for 2014 from 2.6% to 2.9% in its latest Quarterly Macroeconomic Report, corresponding to Q2 2014, said the bank in a statement.

This is due to higher than expected results in the first quarter, as well as to an overall positive outlook for Romania’s economic development, with stabilized macro environment, cheaper financing and improved business sentiment that might attract investors.

According to the quoted Macroeconomic Report, some deceleration of the growth in the industrial production sector is anticipated in the next quarters of 2014. Meanwhile, after it contracted in first quarter of the year and also registered poor performances in 2013, the construction sector is expected to recover.

Public investments and EU funds absorption are lagging much behind expectations and the desired level. However, a significantly better performance of the investments is expected in the rest of 2014, especially in the infrastructural works segment. The anticipated improvement of the investments is based on the projects financed with EU funds, especially those in the transportation segment.

As for the dynamic of the exports, a slowdown is expected for this year, given that the exceptional production of transport equipment and machinery during 2013 will actually work as a negative base effect for 2014. In regards to the imports, some acceleration can be expected on the back of the rebound of domestic demand. Overall, these elements should not impact significantly the current account deficit, which should remain at around 1.1% of GDP in 2014, being more than 100% covered by the foreign direct investments (FDI).

Garanti Bank’s specialists are optimistic in regards to the FDI (Foreign Direct Investment) level, which in the first four months of 2014 came at EUR 785 million, 9% above the one registered in the similar period of last year, and the expected level in 2014 is at around EUR 3 billion (2% of GDP).

For the following period there is still potential for inflows of both short and long term foreign capital, supported by favorable liquidity dynamics in developed countries, leading Garanti Bank to adjust its end-year outlook of the EUR/RON rate of exchange to 4.45, from 4.55 as expected initially.

The favorable financing conditions in local currency should remain the driver of the lending recovery for the next period.

The rebound in domestic demand should be transferred slowly to the financing sector as well, but this is dependent of the consumption’s sustainability in the next quarters.

You can find the report here

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

20.04.2024

1 EUR = lei
1 USD = lei

Sursa BNR

Profil de Bancher

Ruxandra Avram, Sef serviciu monitorizare sisteme de plati si sisteme de decontare, Directia Stabilitate Financiara
BNR

... vezi profil

Toate Profilele

Profil de Banca

Banca Transilvania

vezi detalii

Toate Bancile

Filmul Parking, un cliseu plictisitor

Toate stirile

ING Bank

Toate stirile

Ultimele Comentarii

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
Am depus bani și nu mi au intrat in cont
Sa se rezolve ... detalii

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