Cluj-Napoca builder Wincon, held by entrepreneurs Bogdan Irsik (90%) and Werner Irsik (10%), for 2023 reported net profit of RON16.4 million (EUR3.3 million), up 72.6% from net gain of RON9.5 million (EUR1.9 million) reported in 2022, in line with calculations by Ziarul Financiar (ZF) daily based on data on the transport ministry website.
Electricity and electrical equipment producer Electromagnetica (ELMA.RO) has announced in a stock market report that it will organize an outcry bid on August 7 for the sale of assets consisting of 11 small hydroelectric power plants, at a starting price of RON29 million, to which VAT is applied.
Czech-held company Partners Financial Services (PFS) is entering Romania by buying a 32.89% stake in Transilvania Broker de Asigurari (TBK.RO), one of the largest insurance brokers on the local market.
Romania's Competition Council has approved the transaction whereby the OTTO Group, through EOS Credit Funding DAC and EOS Finance IFN S.A., intends to take over a portfolio of performing and non-performing receivables from BRD Finance IFN S.A.
More than 77,200 houses and apartments were sold in Romania in the first six months of 2024, an increase of 16%, while the increase in Bucharest was 25%, real estate consultant SVN Romania said in a report based on official statistics.
In 2023, Romania saw a record level of financing obtained from the European Investment Bank (EIB) Group, with a total of financial commitments worth EUR4.1 billion, the highest level so far, according to data cited by Mihai Precup, director within the Board of Directors and Romania’s representative at the EIB.
Romania’s statistics board INS upwardly revised the country’s economic growth for the first quarter of 2024 against the same quarter of 2023 to 0.5% from 0.1% estimated in the May report.
Crane ChemPharma & Energy, a global industrial manufacturer and subsidiary of Crane Company, secured a lease for 3,000 square meters of production space within Industra Park Arad in Romania, developed by Oresa Industra.
Germany’s BWM Group bought about EUR2.3 billion worth of parts – steering wheels, tires and loading systems, from direct suppliers in Romania last year, which, together with the rising sales of cars and motorcycles, is a solid base for the group’s ambition to develop an IT and software hub in Romania.
The net assets of the 248 open-end and closed-end mutual funds, both local and foreign, available in Romania, increased by 3.3% to RON44.6 billion in May and by 12.2% since the beginning of the year.
Maspex Romania, a producer of beverages, snacks and foods, part of Poland’s Maspex, has budgeted 7% growth in revenue this year, after having posted 12% growth to RON1.153 billion in 2023.
Transilvania Broker de Asigurare (TBK.RO), one of the largest insurance brokers in Romania, on Friday notified the Bucharest Stock Exchange that its main shareholders, Login Gabriel and Niculae Dan, sold 27.9% to Czech company Partners Financial Services.
Mokka, a provider of Buy Now, Pay Later services, has concluded a partnership with local e-commerce platform Seliton in order to provide clients and retailers with a flexible payment solution.
Retail sales volume in Romania (excluding the trade with motor vehicles and motorcycles) increased by 8% in unadjusted data and by 6.4% when adjusted for seasonality and number of working days, in January-May 2024 compared to the same period of 2023, data from the country’s statistics institute INS showed on Friday (July 5).
Romania's central bank has decided at its Board meeting on Friday (July 5) to lower its benchmark interest rate to 6.75% a year from 7% a year, starting July 8.
tbi bank, active in Bulgaria, Romania, Greece, Germany and Lithuania, has decided to reinvest its entire net consolidated profit of 2023, worth RON42.5 million.
RCI Holding, a major player in the engineering, financial solutions, technology, energy markets and management Consulting, held by businessman Dan Stratan, has promoted Frank Hajdinjak to the position of Chief Strategy Officer.