Mindbank is in full concentration process of over 51% of its
stock, which will allow the bank being taken over by a strategic investor, said
Ioan Prundis, President of the bank. Last year, Mindbank made a RON 8.56 million
gross profit (nearly EUR 2.5 million), that is more than double of the 2004 profit.
The bank's total assets amounted to nearly RON 300 million, approximately 17%
up as compared to the previous year. (Romanian Source)
The
non-governmental credit will post a hike of approximatively 30%, in 2006
Florin Georgescu, the National Bank of Romania`s prime-governor,
stated that, in 2006, the non-governmental credit will hike with approximatively
30% in nominal terms, as compared to 45%, in 2005. Also, according to the
NBR`s analysis, in the interior of credits granted to the population will
be ascertained a diminishing of consumption credits as compared to the mortgage
and real-estate credits. (Romanian Source).
NBR
published list of non-banking financial institutions
NBR published the list of non-banking financial institutions (IFN)
active on the market, in order to facilitate their reorganization according to
the new stipulations. The list is structured on 6 sections, according to the
crediting activities stipulated in the Government Decree that regulates the activity
of such companies. (Romanian Source)
One of the divisions of the Austrian financial group Erste - which
is to become owner of the biggest bank in Romania - acquired Urban Asodatii for
2 million euros, a company that specialises in retrieving receivables. (English
Source)
Eximbank
to guarantee loans taken by exporters from BRD
Eximbank provides exporters that are clients of BRD-Groupe Societe
Generale insurances and guarantees for the loans taken for production or for
exporting products, and will participate in syndicating loans for exporters,
according to an agreement signed by the two banks. (Romanian Source)
The management of the Bucharest Stock Exchange has budgeted net profit
worth 26 million RON (7.4 million euros) for this year, almost five times higher
than the 5.39 million RON income in 2005. The BSE shareholders endorsed the 2006
budget during the General Meeting of Shareholders held yesterday, April 27th.
BSE anticipates to make 50 million RON (14.28 million euros) in revenues this
year, compared with the 28 million RON (7.7 million euros) in 2005. (English
Source)
The European Commission has accredited four new SAPARD programs worth
approximately EUR 100 million, most part of the sums being assigned to projects
destined to the creation of health-veterinary laboratories and environment protection,
announced the Agency for Rural, Development and Fishing Payments (APDRP) yesterday,
April 27th. (English Source)
Gheorghe
Flutur: " EU has to understand Romanian agriculture's specific character
''
Romanian agriculture's specific character must be understood and
the EU has to take it into account, said Gheroghe Flutur, Minister of Agriculture,
Forests and Rural Development. " We started making serious investments in creating
family farms, At present, 40% of Agriculture's budget is allotted through the
''Farmer" program, as credits given by the State to those who want to start or
develop businesses in farming '', added Gheorghe Flutur. Among other achievements,
the Minister mentioned creating the Agency for Payments and Intervention in Agriculture,
which is to make direct payments to farmers as of 2007, as well as the achievement
of the Farming registration, which comprises 1.5 million farms eligible to receive
these payments. (French Source)
A team with the International Monetary Fund (IMF) will come to Bucharest
in the second part of the year in order to provide assistantship to Romanian
authorities in drafting the budget for 2007 and on middle-term, according to
the representatives of the Ministry of Public Funds. One of the main issues approached
in the talks had by Minister Sebastian Vladescu and IMF officials in Washington
was the recent budget rectification and the Government's decision to raise the
budget deficit target from 0.5% to 0.9% of the GDP. (Romanian Source)
In Q1 2006, Romania's commercial exchanges went 25.6% up as compared
to the similar period of last year, announced the Ministry of Economy and Trade.
Thus, exports went 21.9% up, while imports were 28.4% higher. The faster growth
pace recorded by imports over exports generated a commercial deficit, cumulated
on 3 months, of EUR 1.57 billion, 49.5% up as compared to Q1 2005. (Romanian
Source)
Last year, Transilvania Bank posted a net profit amounting
to RON 99.7 million, around 64% up as compared to the previous year and
a gross profit of RON 110 million. In 2006, Transilvania Bank is to make
investments worthing a total of EUR 30 million. (Romanian Source)
At the end of March, Financial Investment Companies (SIFs), recorded
overall net assets worthing RON 6.88 billion, 2.18% up as compared to the previous
month and 85,8% up as compared to March 2005, informs a communique released by
the National Agency of Collective Investment Organizations (ANOPC). (Romanian
Source)
Danone Romania, leader of the domestic yogurt market, foresees maintaining
the 45% growth pace recorded last year. Based on this pace, Romania-based Danone's
turnover may exceed EUR 100 million at the end of this year, given the fact that,
last year, Danone posted an EUR 70 million turnover. (Romanian Source)
Constanta-based " Oil Terminal '' SA ended 2005 with a RON 128.090
million turnover, 21.2% up (RON 22.441 million) as compared to the previous year
and a gross profit of RON 7.339 million. For 2006, Oil Terminal plans achieving
a middle and long-term investment plan worthing around USD 140 million. (Romanian
Source)
On Thursday, April 27th, MOL representatives announced, in the GSA,
investments in Romania worthing EUR 40 million for the 2005-2007 period. The
investments made in 2005 amounted to EUR 20 million. For 2006, MOL plans to expand
its gas stations network through Greenfield investments worthing some EUR 8 million.
The company met its strategic targets set for 2003-2005. (Romanian Source)
PC
wants to introduce tax to ensure funds for Romania's EU accession
Trade companies may pay a tax accounting for three per cent of their
annual profits for three years (2007-2009), in order to ensure the funds that
Romania will need upon accession to the European Union, according to a legislative
initiative announced yesterday, April 17th, by PC leader Dan Voiculescu. In this
respect, the Conservatives will table a draft law to Parliament next week. (Romanian
Source)
The plenary of the Senate passed the Emergency Decree which establishes
that the summer season commences on May 1st and ends on September 30th and which
forbids unauthorized agents to carry out touristic activities. (Romanian Source)
Dan
Ioan Popescu, summoned to clarify position within PSD
Yesterday, April 27th, the Sector 1 Executive Bureau of PSD Bucharest
Branch decided, in unanimity, to give a 2-3 weeks term in which Dan Ioan Popescu
is to clarify his position within the party. Dan Tudorache, President of PSD
Sector 1, said that Dan Ioan Popescu has to decide whether he returns as President
or not. (Romanian Source)
After Dan Voiculescu, President of the Conservator Party, announced
yesterday, April 27th, that PC Parliamentarians will not vote in the Chamber
the National Minorities' Status draft law, Marko Bela, UDMR President, characterized
the Conservators' decision as " unacceptable for the Coalition's interests ''.
PD President Emil Boc refused to make any comments on PC's decision. (Romanian
Source)
