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The ten largest banks by assets in Romania increased their assets at different paces in 2022, going from 5% to 56%, while the net assets of the entire banking system increased by almost 10% to a record RON701.4 billion.
Tissue paper manufacturer MG TEC Industry, based in Dej and founded in 2018 by entrepreneur Vasile Hasmasan, ended 2022 with a turnover of RON225 million (over EUR45 million), almost fourfold higher than in 2021, as per finance ministry data.
The Bucharest Stock Exchange registered Wednesday afternoon (March 29) a Deals transaction with 143.75 million shares of hotel company Turism Felix (TUFE.RO), owner of Baile Felix resort tourism compound.
Danube transport company Transport Trade Services (TTS.RO) has concluded a contract with Raiffeisen Bank International AG regarding market maker activity on the regulated spot market administered by the Bucharest Stock Exchange, as per a stock market report released on March 29.
Square 7 Properties, in partnership with Belgian investment fund Mitiska REIM, is opening the Giurgiu Shopping Park retail project this week.
Distribution and logistics company Aquila Part Prod (AQ.RO) expects RON2.4 billion revenue in 2023, up from the RON2.2 billion of 2022.
Romanian C-suite leaders are optimistic about the future of their businesses, while recognizing the significant challenges that Romania, as well as the entire world, is facing, as per the 2023 C-suite barometer: Bold leadership for a sustainable future, conducted by Mazars, the international audit, tax and advisory firm.
Deal activity across Europe continued at a steady pace during 2022 despite an increasing number of economic headwinds, according to the latest annual European M&A study by global law firm CMS.
Deloitte Romania has assisted Mexican bakery company Grupo Bimbo, the global leader in the market, with the acquisition of the local leader baker Vel Pitar from U.S. private equity fund NCH Capital.
Knauf Insulation, one of the largest insulation materials manufacturers, part of Germany’s Knauf Group, has started the construction of a new factory in Tarnaveni.
Romania’s economic growth will slow down in the first half, following a decline in household spending, investments and the compression of the export growth rate, but has solid prospects of a later rebound and will reach 2.8% by the end of the year, OTP Bank analysts estimate.
Hidroelectrica, the largest electricity producer in Romania and a company that is preparing to be listed on the Bucharest Stock Exchange, expects a net profit of RON3.66 billion in 2023, down 8.5% on the year, and revenue of RON11.63 billion, up 27.8% from the 2022 result.
Belgian-held drywall products maker Etex Building Performance (Siniat and Promat Romania) announces the appointment of Andrei Popa to the position of general manager for Romania and the Southeast Europe (SEE) region.
The Bucharest Stock Exchange on Wednesday (March 29) released the volume ‘ Made in Romania: 15 companies for the growth of the Romanian economy and their success stories’, including the stories of the finalists in the 5th edition of Made in Romania, held in 2022.
Arobs Transilvania Software, the biggest technology company listed on the Bucharest Stock Exchange, envisages RON421.25 million net turnover, up 40% from 2022, in line with ZF calculations based on the revenue/expenses budget set to be debated by shareholders at end-April and the preliminary annual report.
OMRO, a non-banking financial institution funding Romanian agriculture SMEs and local businesses, has sealed a partnership with BNP Paribas, a major banking players in the EU, via which the company and its digital lending platform, Filbo, get RON7 million worth of unsecured funds.
Housing prices rose, between 2015-2021, by 38% on average in the EU, with Romania having the lowest price increase in CEE, of 34%, reveals a recent Colliers report.
Teletext, which owns Diami dairy brand, controlled by entrepreneur Mitru Crisan, boosted its turnover to EUR20 million last year and for 2023 forecasts 21% growth, according to the company’s officials.
Europack Media, a Constanta-based manufacturer of baby wet wipes, founded by Romanian entrepreneurs, ended 2022 with RON75 million turnover, up from RON70 million in 2021.
MedLife group, the biggest private healthcare provider in Romania, has budgeted RON2.1 billion turnover in 2023, up 18% from 2022.19043 items