Romania Feed

Plastic packaging maker Romcarbon (ROCE.RO) ended the first half of 2023 with a net profit of RON5.2 million, up 29% on the year, and the increase was also due to selling some assets in the first three months of 2023, as per the company's financial report released on Friday (August 11).

British software company Endava ended 2022 with a turnover of over EUR261.2 million (over RON1.2 billion), up almost 37% from a turnover of over EUR191 million (RON941.5 million) reported in 2021, as per data published on the finance ministry website.

ROCA Agri RDF, the agricultural holding launched by ROCA Investments, will be launching a Non-Banking Financial Institution (NBFI) which is intended to cater to the financing needs of the agricultural sector.

The average net salary in Romania increased by 1.3% in nominal terms in June 2023 compared to May 2023, to 4,600 (EUR938), data from the country's statistics board INS showed on Friday (August 11).

Romania's annual inflation decreased below the 10% threshold in July 2023, reaching 9.4% compared to July 2022, data from the country's statistics board INS showed on Friday (August 11).

Rompetrol Well Services (PTR.RO), one of the major suppliers of well services in Romania, ended the first half of 2023 with a net profit of RON6.45 million from a loss of RON564,700 in the same period of 2022, in line with calculations by Ziarul Financiar (ZF) daily based on data from the company's half-year report published at the Bucharest Stock Exchange.

The European Commission has approved a Romanian state aid scheme worth RON200 million (RON998 million lei) intended to compensate forest owners for the wood they did not cut, as a result of some ecological restrictions.

OTP Bank Romania recorded a consolidated net profit of RON183 million in the first half of 2023, driven by an increase in operating profit and positive credit risk costs, as the bank posted RON14 million losses in the same period of 2022.

Financial concerns influence the personal and career plans of Romanians as they are seeking jobs that offer long-term security or targeting booming fields of activity, such as IT and cybersecurity, renewable energy, digital content, financial investments, and healthcare, as indicated by trends on the bestjobs platform.

Romania's Finance Ministry raised RON525 million from banks on Thursday (August 10), selling government paper maturing in 2026, at an annual average yield of 6.58%.

Companies leased nearly 550,000 square meters of logistics and industrial spaces in the first half of 2023, with over one third of this volume being related to pre-lease agreements, mainly in projects set to be delivered in 2024, as per data provided by real estate consulting data Cushman & Wakefield Echinox.

Local café network 5 to go opened a shop in the HILS Pallady residential complex in the east side of Bucharest early in August.

Transilvania Broker de Asigurare (TBK.RO), one of the largest insurance brokers on the local market, ended the first half of 2023 with a turnover of RON60 million, down 15% on the year, and a net profit of RON5.5 million, down 30% on the year, the company said in a financial report published on Thursday (August 10).

Romanian state-owned oil transporter (COTE.RO) ended the first half of 2023 with a turnover of RON241 million, up 3.4% on the year, and a net profit of RON29 million, lower by RON4.63 million than the level reported in the same period of 2022.

Tiriac Auto, the automotive retail division of Tiriac Holding, is investing roughly EUR600,000 in expanding its network of used car showrooms.

Amazon Development Center, the development center US giant Amazon in Romania, which started its activity on the local market 18 years ago, ended 2022 with a turnover worth over EUR124.6 million (RON616.7 million), up 11% from 2021, in line with data on the finance ministry website.

Belgium's industrial and logistics space developer WDP reported rental income of EUR35.1 million related to the 69 properties it owns in Romania.

Almost half of Gen Z representatives prefer mobile banking and only 3% are in favor of traditional banking, as per a survey conducted in July 2023 by research company Dynata for Revolut.

Alpha Bank reported a 10% increase in its loan portfolio in Romania in the first half of 2023, up to EUR3.02 billion net exposure, while customer deposits amounted to EUR3.04 billion, up 13.6% on the year.

tbi bank makes CASH Zero, a lending solution which offers fast access to financing of maximum RON15,000 and a grace period of 4 months on interest rate payment, accessible to Romanians both in the country and abroad.