The National Bank of Romania approved the BCRs Supervisory Board proposal to appoint Mr. Wolfgang Schoiswohl as a member in BCRs Executive Board, Executive Vice Presedinte responsible for the business lines Corporate and Treasury & Capital markets, said the bank in a press release.rnrnStarting with February 4, 2009, BCRs Executive Board is complete and consists of: rn Dominic Bruynseels, CEOrn Helmuth Hintringer, Executive Vice President, Risk & Finance rn Oana Petrescu, Executive Vice President, Operations rn Martin kopek, Executive Vice President, Retail & Private Bankingrn Wolfgang Scholswohl, Executive Vice President, Corporate and Treasury & Capital MarketsrnrnAn internationally experienced banker, Mr. Schoiswohl joins BCR after a 23-year career in banking in Austria, Great Britain, Romania and Hungary. He knows very well the Romanian economy and banking market serving 5 years in Bucharest within HVB Group subsidiaries.rnrnMr. Schoiswohl gained his broad professional knowledge on Romanian economy environment through several top management positions held successively starting with 2002: Executive Director and Deputy Chairman, Corporate Banking, in HVB Bank Romania; Chairman and CEO of Banca Comerciala Ion Tiriac (after acting as Deputy Chairman and CFO) and Deputy Chairman responsible for Corporate in Banca Comerciala HVB Tiriac. Most recently, he worked as Member of the Board, responsible for Corporate and Treasury, in Volksbank Hungary.rnrnMr. Schoiswohl started his international banking career in London in 1996, serving 5 years in Bank Austria Creditanstalt AG as responsible for corporate business links between UK and CEE. Previously he worked in Austria for Bank Austria and Oesterreichische Landerbank AG.rnrnBCR, a member of the Erste Group, is a universal bank dedicated to both retail and corporate customers. BCR is the leading banking organization in Romania, managing assets worth of more than EUR 17.5 billion. BCR is the most valuable Romanian financial services brand. The bank is offering a full range of banking services having 634 retail branches and agencies (for individuals and micro corporations) located in most of the Romanian cities with a population of more than 10,000 inhabitants. The corporate customers are serviced in 50 corporate commercial centres dedicated exclusively to SMEs and big companies. The bank provides to both retail and corporate customers a complex offer of banking products and services, including Internet banking, phone banking and e-commerce services. BCR issues 24 types of debit and credit card, and is the owner of the largest national ATM and POS network over 1,800 machines and over 15.000 electronic terminals operational at the merchants, for card payments. BCR is currently the most important financial Group in Romania, with operations both in Romania and abroad developed by its local branches, foreign banking subsidiaries and representative offices. BCR is also holding top positions on the financial market segments for leasing, asset management, housing bank, equity and pension funds as well as insurance supported by its domestic subsidiaries.rnrnErste Bank Group is with its over 54,000 employees one of the leading financial providers in CEE, serving over 16 million clients in over 3,000 branches in 8 countries (Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia, Serbia, Ukraine). As of 30 September 2008 Erste Bank Group has 209.4 billion EUR total assets, net profit of EUR 1,463.0 million and ROE of 21.7%.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