Romania Feed

Fashion retailer C&A has reached 50 offline stores in Romania, five more than two years ago and ten more than at the pandemic onset, in 2020.

Silviu Popovici, the most powerful Romanian executive at PepsiCo, says that during the period full of challenges globally he has not out strategic investments on hold and is further developing inclusively the business of Romania and wants to invest in brands and sustainability.

Furniture and home décor retailer Vivre announced RON34 milion losses for 2022, compared with RON85 million the previous year and 50% lower revenue, RON114 million.

Teilor Holding, a group that includes fine jewelry chain Teilor, non-bank financial institution Invest Intermed GF IFN and Teilor Invest Exchange and has bonds listed on the Bucharest Stock Exchange, posted RON371.2 million consolidated revenue in 2022.

Dentons, the world's largest law firm, announces the promotion of Alexandra Radulescu to the position of Partner and of Oana Voda to the position of Senior Counsel at its Bucharest office.

SIF Oltenia (SIF5.ro) has informed investors and shareholders of the initiation of the necessary steps for the sale of its 23.18% ownership stake in Sinterom Cluj (SIRM.RO), a manufacturer of components for the automotive and electromechanical industries.

Libra Internet Bank, a member of U.S. investment group New Century Holdings, reported a net profit of RON238.1 million for 2022, up 31.4% on the year, and managed to maintain a small ratio of non-performing loans (NPLs), of 1.16%, significantly more favorable than the market average which stood at 2.65% at end-2022.

Metropolitan Life Pensii Private, the manager of the third largest Pillar II pension fund in Romania after NN Pensii and AZT Viitorul Tau, went shopping in March 2023 and increased its stakes in several companies in the BET index amid lower prices.

The first quarter of 2023 was among the slowest in the post-pandemic period in terms of demand for office space, reflecting uncertainty triggered by economic perspectives, according to Colliers.

Romanian authorities issued 3,346 residential building permits in March 2023, 30.1% more than in February 2023 and 23.8% fewer than in March 2022, data from the country’s statistics board INS showed on Friday (April 28).

Romania’s general consolidated budget posted a deficit of RON22.75 billion in January-March 2023, or 1.42% of gross domestic product (GDP), the finance ministry said on Friday (April 28).

National grid company Transelectrica (TEL.RO) published a report on the Bucharest Stock Exchange on Friday (April 28) detailing investment plans and explaining its position for having 50% of the 2022 net profit distributable to shareholders after the Romanian government as majority shareholder turned down the dividend proposal.

The members of the French Chamber of Commerce, Industry and Agriculture in Romania (CCIFER), representatives of the Franco-Romanian business environment, elected a new Board of Directors at the General Assembly held on April 27 in capital city Bucharest.

Private lending in Romania grew by 10.2% in nominal terms (-3.8% in real terms) in March 2023 versus March 2022 to RON370.4 billion, as local currency lending increased by 2.7% (-10.3% in real terms) and foreign currency lending expressed in lei by 30.2% (+30.2% in real terms when expressed in euros), central bank data showed on Thursday (April 28).

The European Investment Fund (EIF) has signed a EUR5 million loan to Patria Bank, a Romanian lender specialized in financing small and microentrepreneurs with limited access to finance.

The bonds issued by the Municipality of Bucharest through the City Hall of Bucharest (PMB) are now traded on the Main Market of the Bucharest Stock Exchange (BVB) under the stock symbol PMB30.

The shareholders of 2B Intelligent Soft (Bento, Intellectually Curious, a Romanian entrepreneurial company specializing in the development and implementation of software solutions and a provider of IT infrastructure and cloud services, on Friday, April 28, announced the distribution of 2022 RON5.6 million net profit, with RON2.1 million set for dividends.

Lender Banca Comerciala Romana (BCR), controlled by Erste Group, ended the first quarter of 2023 with net profit worth RON562.7 million (EUR114.4 million), up 17.8% from the year-earlier period, owing to improved operating performance supported by ongoing strong lending growth.

The shareholders of national power grid Transelectrica have not approved the distribution of a RON0.71 gross dividend per share of 2022 profit, in line with the decision of the ordinary general assembly of the company’s shareholders submitted to the Bucharest Stock Exchange.

OMV Petrom, Romania’s largest oil company, ended the first three months of 2023 with RON9.5 billion sales, vs RON12 billion in the year-ago period, while net profit slipped by 15% to RON1.48 billion amid falling oil prices.