Latest articles from Romania

Romania maintains momentum

April 4, 2005

Romania is celebrating a successful 2004 in which taxes were cut and GDP grew. Now its sights are set on EU accession and newly elected President Basescu faces some tough decisions in the longer term. 

No longer the laggard

April 4, 2005

Romania is catching up with its eastern European neighbours in the attraction of foreign direct investment. Matei Paun reports on last year’s record performance and conditions that bode well for the future.

New government makes ambitious reform plan

February 2, 2005

Bank privatisations and stock market listings are on the new government’s financial reform programme as it strengthens its bid for EU accession. Matei Paun reports from Bucharest.

New entrants in profits drive

June 2, 2004

Matei Paun reports on the host of foreign banks hoping to cash in on Romania’s burgeoning finance sector.

Eyes on the prize

April 5, 2004

As Romania does all it can to create a smooth path towards EU membership, investors are discovering that the countries holds great promise. Matei Paun reports from Bucharest.

BCR: Romania’s banking giant

April 5, 2004

Banca Comerciala Romana is awakening to a world of opportunities and challenges With its know-how and a 300-strong branch and agency network, it is well-placed to distribute its products and services and make headway in the retail market.
Banca Comerciala Romana (BCR) is the Romanian banking sector’s sleeping giant. Not only is it the largest bank, with roughly a 30% market share and nearly four million customers (doubled from two million in early 2000), but in the period 2000-2003 it generated total profits of almost $750m. In 2003 it delivered a strong performance with net profits of over $160m, in line with 2002’s performance.

Foreign banks’ invasion pays

April 5, 2004

Privatisation in the Romanian banking sector has sent foreign assets soaring in the last six years. And the flurry of activity shows no signs of dissipating.
Since privatisation began with the 1998 sale of the Romanian Development Bank (BRD) to France’s Société Générale Groupe, the percentage of banking assets represented by foreign banks in Romania has skyrocketed to more than 50%. Besides the French, the Austrians are traditional players in the central and eastern Europe (CEE) banking sector, as are the Greeks, playing on their regional familiarity. The Dutch, Italians and even the Americans, through Citibank, also have considerable presence.

A cautious approach

April 5, 2004

Mugur Isarescu, governor of the National Bank of Romania, tells Matei Paun why he decided to issue a set of regulations that limit retail banking growth.

Non-banking boomtime

April 5, 2004

Just as the banking sector is benefiting from better economic times in Romania, mortgages insurance and pensions are all making great steps forward.

Shoots of growth

April 5, 2004

Positive economic indicators in Romania have heralded an influx in foreign direct investment. Thus opening new doors for the country’s financial sector.

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