Romania Feed

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.

In textile production, constructions and food industry, between 3 and 5 firms out of 100 are insolvent, with these being the fields of the Romanian economy where the weight of struggling companies is at the highest, reveals a ZF analysis based on Coface data. Across the entire economy, two of 100 companies are in default.

Gral Medical, a major player locally, which has grown organically, has already started building two oncology hospitals, in Ploiesti and Craiova, and plans another two in Transylvania area.

Building materials retailer MAM Bricolaj, founded in Bucharest by entrepreneur Cristian Gavan, is set to expand its store chain and to diversify its supply through partnerships, franchising or acquisitions, as per a proposal approved by its shareholders at their general meeting of April 26, 2023.

Chromosome Dynamics (CHRD.RO), a developer of IT & AI solutions for the agribusiness sector, recorded a net profit of RON1.3 million in 2022, up 33.4% versus 2021, and a turnover of almost RON10 million, up 113.6% on the year, as per calculations by Ziarul Financiar (ZF) daily based on data from the annual financial report published at the Bucharest Stock Exchange.

Sports betting group Superbet, founded in 2008 by entrepreneur Sacha Dragic, has appointed Jimmy Maymann as Deputy Chairman of the Board of Directors, effective April 26, 2023.

Shareholders of Evergent Investments, the former SIF Moldova, a company listed at the Bucharest Stock Exchange under the ticker symbol EVER, have approved all proposals on the agenda of the ordinary and extraordinary general meetings of April 27, among which the distribution of a gross dividend of RON0.09 per share.

Simtel Team (SMTL.RO), a Romanian engineering and technology company listed on the AeRO market of the Bucharest Stock Exchange, has announced the appointment of a Board of Directors by the company’s shareholders at their general meeting of April 25, 2023.