The Net
Profit Of Raiffeisen Bank In 2005 Increased By 94% As Compared To Previous
Results
The net profit of Raiffeisen Bank in 2004 increased by 94%
as compared to previous results, to EUR 51.8 million. Raiffeisen's total assets
exceeded EUR 3 billion, higher by 50% than in 2004. The bank's officials declared
that " such development is due to the balanced growth of the loans granted to
clients, and of deposits. '' The granted loans increased by 18%, to EUR 1.4 billion.
Out of the total loans, a high percentage (60%) was held last year by the loans
granted to legal entities. (corporate clients and SMEs). (English Source)
ABN
Amro Romania Opened a New Work Point in Bucharest
ABN Amro Romania inaugurated a new work point in Bucharest,
located at Calea Dorobanti, meant for clients natural persons and for clients
legal entities. ABN Amro Bank (Romania) SA is a branch of ABN Amro NV, one
of the largest banks in the world, having assets of a total value in excess
of EUR 880 billion, present in more than 60 countries and territories, ABN
is present in Romania since November 1995 and is active in 15 cities (Arad,
Bucharest, Brasov, Bacau, Cluj, Constanta, Craiova, Galati, lasi, Oradea,
Pitesti, Ploiesti, Sibiu, Targu-Mures and Timisoara). (Romanian Source)
For
This Year, HVB Bank Planned Investments Over EUR 10 Million For Expansion
For this year, HVB Bank planned investments over EUR 10 million for
a " fast '' expansion of its local network by 30 units, given the fact that only
14 branches are currently operational. Such project is independent from its merger
with Banca Tiriac, which will contribute in terms of territory cover with its
own 68 branches and agencies. The improvement of its territorial presence is
a must, considering the orientation to providing full banking services of the
entity resulting from its merger with Banca Tiriac and, subsequently with UniCredit.
The first two players in the banking system - BCR si BRD-GSG - have now networks
of more than 300 units, while Raiffeisen Bank and Banca Transilvania have more
than 200 de units (English Source)
Caraiman
Busteni distributes gross dividend of RON 0.9085/share
The provider of tourist services and trade activities Caraiman with
its headquarters in Busteni, reported for 2005 a gross profit of RON 226,485,
given the fact that the company intended to record a null outcome. The profit
resulted primarily from the sale of assets and was entirely distributed to shareholders
in the form of dividends. The GAS decided such distribution of dividends, resulting
a gross dividend of RON 0.9085 RON/share. (Romanian Source)
In
2005, BRD-GSG Recorded A Net Profit of RON 576 million
BRD-GSG recorded a net profit of RON 576 million, in 2005, up 43%
as compared to 2004 and net banking income of RON 1.403 billion, up 17%, as compared
to 2004. The chairman of the bank, Patrick Gelin, considered the results for
2005 " very good''. ''The results are very good. The 17% increase of the bank's
income reflects the bank's strong development'', explained Gelin. BRD's gross
result was RON 751 million RON, up 20 percent as compared to 2004. (English Source)
The
Rating Agency Moody's Mainatains Its Rating For Romania At Ba1
The rating agency Moody's maintains its rating for Romania at Ba1,
with chances for improvement in the prospect of Romania's accession into the
European Union. However, Moody's representatives deem that the rating of our
country is low for a country that will become a member of the European Union.
In addition, the agency's specialists stated that such rating was also influenced
by Romania's macroeconomic politics inconsistent at times and by the fact that
our economy still has certain features of transition economies. (Romanian Source)
The trade balance emphasized its instability in the first two months
of the year, since the imports on the entire economy exceeded exports by more
than EUR 1.4 billion, according to the latest data provided by the National Statistics
Institute. The trade deficit cumulated for the first two months of the year is
higher by 55.9% as compared to the same period of last year. In this way, exports
increased by 22.5% as compared to the exports in the same period of last year,
amounting to EUR 3.87 billion. (Romanian Source)
The
Competition Council Checks State Aids For The Promotion Of Direct Investments
With A Major Impact On Economy
The Competition Council, by its Local Competition Inspectorates,
carries checks of the State aids received by the companies throughout the country
according to Law No. 332/2001 regarding the promotion of direct investments with
a major impact on economy. The Romanian Agency for Foreign Investments communicated
to the Competition Council that it recorded 290 large investments projects, 147
of which are in progress in Bucharest and Ilfov, in n aggregate value exceeding
USD 2 billion. (Romanian Source)
Dumbrava
Falticeni Earmarks More Than 90% Of Its Profit To Investments
The net profit of company Dumbrava, producer of furniture,
amounted to RON 558,529.95 RON at the end of the previous financial year,
up 17.7% as compared to the previous period. More than 90 percent (RON
508,529.95) of the total value of the profit will be used for investments. " We
intend to complete an investment with a heating plant, i.e. to commission
such plant and install additional structures '', stated the president of
the Board of Administration, Ms. Irina Iroib. (Romanian Source)
The
Water Network From Valenii de Munte Will Be Remade
The water-feeding network from Valenii de Munte, Prahova county,
will be rehabilitated. In this respect, the Specialized Service in the city will
organize a public tender on May 3, the deadline for the submission of bids being
May 2. The requested participation security amounts to RON 10,000, and the local
budget will insure the financing. (Romanian Source)
The ORL Clinic attached to the Iasi University Hospital Sf. Spiridon
was inaugurated after more than 4 years of rehabilitation and modernization works.
The consolidation, renovation and modernization works for the ORL Clinic attached
to the Sf. Spiridon Hospital were initiated in 2001, and the funds used for this
purpose currently exceed RON 5.3 million. Such works were financed from the budget
of the Ministry of Health and of the Iasi Municipality. (Romanian Source)
The British real estate company Equest Balkan Properties, focused
on business in the real estate market in the South East Europe, particularly
Romania and Bulgaria, announced that it acquired the commercial complex Moldova
Mall in lasi, for EUR 34.5 million. Moldova Mall was held by the Moldova group
of companies, under the control of Danut Prisecariu. The ground floor of the
complex will address services, including telecommunication services. (Romanian
Source)
In
2006, Altex Will Invest Over EUR 20 million In Expansion
According to Altex operation manager, Adrian Urda, the electronics
and appliances retail market will exceed EUR 1 billion in 2006. Last year, the
retailer held a market share of 30%, while the profile market level was estimated
at EUR 850 million. In 2006, Altex will invest over EUR 20 million in expanding
its network. In 2005, Altex reported an increase of almost 90% of its turnover,
up to EUR 275 million, being the leader of the profile market from this point
of view. (English Source)
Diverta, the largest network of media stores from Romania will invest
in 2006 more than EUR 3 million in opening new stores, respectively for developing
the "Best in Diverta'' concept within the existing network. Continuing with its
investment plan of last year, when it opened 15 new stores, Diverta will inaugurate
another three stores, in the following weeks. Diverta and Best Computers are
brands of RTC, one of the largest commercial groups with Romanian capital on
the local market. The Diverta network will be extended also on the Spanish and
Israeli markets. The clients targeted by the company in these countries are the
Romanian communities. (English Source)
The
Law Against Joint Actions Of The SIF Shareholders May Not Be Applied
The specialists of the capital market realized that the law against
concentration and joint actions at the SIFs may not be applied. After almost
one month of public debates around the matter, the Chamber of Deputies approved
a bill according to which the shareholders of the SIFs which act jointly shall
sell their shares which, in aggregate, exceed 1%of the share capital of a SIF.
(Romanian Source)
On Thursday, March 30, 2006, the Senate passed a law according to
which the Government, local and central public administration authorities may
not conclude agreements regarding assets from the public domain which include
secret clauses. Although the Government opposed, the bill was adopted " on the
edge '' by the plenum of the Senate with 24 votes for, 22 against and one abstention.
The initiators, a group of 8 PRM members, who are also members of the Parliament,
motivated their legislative proposal giving as examples the agreements concluded
with OMV and Apa Nova, which, as they state, should have been made public, being
of a national interest. (English Source)
PSD
Accuses Liberals Of Wanting Farmers' Agricultural Plots Of Land
The villages' law, on which Minister Flutur is working, is criticized
by Social democrats. They believe that such a project has no purpose. The former
Minister of agriculture, Ilie Sarbu, considers that the actions of the current
Government represent a conspiracy by which businessmen close to the current Government
will enter into the possession of the farmers' agricultural plots of land, to
sell them at a higher price upon Romania's accession into the EU, when their
price goes up. (Romanian Source)
Liberals
Cannot Go Easily Over The Loss Of CNSAS Presidency
Liberals cannot go easily over the loss of CNSAS Presidency. They
continue with their threats against PD, thus hoping that Ticu Dumitrescu will
eventually reach the promised position - Head of College. Prime Minister Tariceanu
tries to assume a moderate position, which should not pose the threat of a divorce
within the Alliance, but which should not leave the affairs in the state desired
by PD. (Romanian Source)
