Romania's central bank has decided at its Board meeting on Monday (May 13, 2024) to keep its key interest rate unchanged at 7% a year, being the bank's fourth consecutive rate freeze in 2024 and the seventh consecutive freeze in 2023.
Electricity and electrical equipment producer Electromagnetica (ELMA.RO) ended the first quarter of 2024 with net loss of RON3.1 million, compared to net profit of RON3.9 million in the same period of 2023, the company said in its quarterly financial report released on Monday (May 13).
Rompetrol Rafinare, a member company of the KMG International Group (Rompetrol), has initiated the processes of restarting the production facilities at the Petromidia Navodari refinery, after the timely completion of the maintenance, recertification, and modernization of the units.
Romanian state-owned port operator Oil Terminal in the first three months of 2024 posted net profit of RON28.4 million, up 21.6% from Q1/2023.
Garanti BBVA Romania, part of Garanti BBVA Turkey, in 2023 posted net profit worth RON177 million, down 7% from 2022, and RON521 million operating revenues.
CreditAmanet, a Romanian-held provider of pawnbroking and money exchange services, has invested over EUR2.5 million in a rebranding process and is changing its name to MAGNOR.
The European Bank for Reconstruction and Development (EBRD) and APS, a leading non-performing loan (NPL) management firm in Europe, are jointly investing in a funded participation concerning a portfolio of around 2,000 sub-performing and non-performing loans in Romania sold by Piraeus Bank.
Real estate developer One United Properties ended the first quarter of 2024 with RON419 million consolidated turnover, down 5% from Q1/2023, while net profit climbed 4% to RON157.3 million.