Romania Feed

AKCENTA, regional fintech leader in international payments and currency exchange, announces the appointment of Daniel Bogiu as Country Manager of AKCENTA in Romania, thus marking the strategic decision to expand the local presence in each county and increase the support capacity for customers in Romania, as per data from company representatives.

Transport and logistics company DGH Log&Sped, one of the largest in Romania, hit the RON100 million (EUR20 million) revenue mark in 2022, an increase of 13% on the previous year, Finance Ministry data show.

Safetech Innovations, a Romanian cybersecurity company listed on the Bucharest Stock Exchange with offices in Bucharest, London, and Abu Dhabi, announces the appointment of Ionut Georgescu as Chief Operating Officer (COO) at the group level. Ionut Georgescu is an executive with over 21 years of experience in the IT and information security industry.

Law firm Filip & Company has assisted RCS & RDS S.A., part of Digi Group, in contracting new financing totaling over EUR132 million, for a period of up to three years.

Employees in Romania's IT industry are restrained in the decision to change their current job (almost one in three is not considering leaving their present job and working for another company), they want a pay rise to keep pace with inflation (over 20% of the current salary), a flexible schedule and fringe benefits.

The month of April animated recruitment, with over half a million job applications being registered on the online recruitment platform BestJobs. Candidates aged 25 to 34 are the most determined to change their job.

Brokerage group XTB, with shares listed on the Warsaw Stock Exchange, ended the first quarter of 2023 with consolidated net profit of EUR64.4 million, up 20% versus the same period of 2022, the company said in a press statement.

OMRO, a non-banking financial institution funding Romanian agriculture SMEs and local businesses, ended 2022 with an annual increase of 51.8% in revenue from the lending activity, representing interest and commission income, in the amount of RON12.5 million, while its net profit transposed into RON1.7 million loss, above the RON89,000 level reported in 2021.

BCR Pensii, the private pension fund with the biggest number of listed companies in its portfolio among the seven mandatory private pension funds in Romania, known as Pillar II, increased its ownership stake in telecom operator Digi Communications to 3.87% from 2.73% following deals worth as much as RON13.4 million closed in March 2023 at the Bucharest Stock Exchange.

Romania's foreign exchange reserves stood at EUR53.3 billion in April 2023, higher by EUR112 million versus March 2023, central bank data showed on Tuesday (May 2).

Speedwell is announcing for the first time its intention to build the CityZen mixed-use project on a nine-hectare plot of land on the former Griro platform in capital city Bucharest, within an investment worth EUR500 million.

Romanian optical retailer Lensa, founded by entrepreneur Daniel Craciun, in 2022 posted RON134 million turnover, 70% above the 2021 level, with the store network being present in 25 cities, with a total of 48 units, plus the online store.

Distribution and logistics company Aquila Part Prod has budgeted EUR12.7 million investments for 2023.

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.