BURSA | ENGLISH

EBRD hosts conference on development of Romania’s capital markets

Autor:

2015-02-04 12:17

The European Bank for Reconstruction and Development (EBRD) will host a conference at its headquarters in London on 6 February 2015 to discuss the development of Romania’s capital markets, said the bank in a statement.

Organised in cooperation with the Bucharest Stock Exchange (BVB), the event builds on the success of a first conference on the subject last October and the strong interest of international investors in Romania as an investment destination.

State officials, BVB management, representatives of large public companies and international investors will discuss the latest developments in the local capital markets and the pace of reforms needed to upgrade Romania to emerging-market status in indices such as the FTSE, S&P Dow Jones and the Morgan Stanley Capital International (MSCI).

Romania’s goal is to be upgraded to emerging-market status from its existing frontier market classification.

To achieve this goal the authorities are implementing a comprehensive programme to improve the functioning of the local capital market, enhance liquidity and increase the availability of capital market products. It includes measures to streamline regulatory processes and increase efficiencies within the pre-trade, trade and post-trade environments.

The EBRD, the largest institutional investor in Romania, supports the programme through investments, technical assistance and support for reforms.

As part of these efforts, the EBRD has acquired a 4.99 per cent stake in the Bucharest Stock Exchange. As a shareholder, the Bank is working to establish the BVB as the preferred exchange for Romanian issuers and traders, as well as for investors with an appetite for Romanian stocks and other financial instruments.

The EBRD is also advancing reforms at the exchange through its recently-elected representative on the board of the Central Depository, an institution which ensures clearance and settlement of the transactions concluded on the Bucharest Stock Exchange and records the registries of issuers.

In addition, the Bank has invested in the recent initial public offerings (IPOs) of gas and electricity distributors Romgaz and Electrica and has participated in all bank bond issues in the last two years under its dedicated €150 million framework. The EBRD is also working with the authorities to provide advice and support for reforms and is encouraging Romanian businesses to tap into local capital markets.

Developing capital markets and local currency lending is among the EBRD’s priorities in the country. To date, the Bank has invested about €7 billion across 368 projects in Romania, with almost €600 million in 2014 alone.

Taguri:

Comentarii

Nu există comentarii pentru această știre.

Adauga un comentariu

Alte stiri din categoria: ENGLISH

Neutral interest rate in Romania

The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank

Merger of Alpha Bank and UniCredit Bank Romania

Press Release:"Alpha Services and Holdings announces a strategic partnership with UniCredit in RomaniaMerger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by... detalii

National Bank of Romania (NBR) Board decisions on monetary policy

NBR Board decisions on monetary policyIn its meeting of 4 April 2023, the Board of the National Bank of Romania decided:• to keep the monetary policy rate at 7.00 percent per annum;• to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum;• to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and electricity prices, under the impact of significant base effects and the change made to the energy price capping and compensation scheme starting 1... detalii

ING posts 2022 net result of €3,674 million, dividend of €0.389 per share

ING press release:ING posts FY2022 net result of €3,674 million,proposed final 2022 dividend of €0.389 per share 4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%•Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income•Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter•Risk costs declined to 17 bps of average customer lending Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits•On a full-year basis, our primary customer base grew by 585,000•Net core lending growth of €18 billion and net core deposits growth of €25 billion in 2022•Net result of €3,674 million in a challenging year; proposed final 2022 dividend of €0.389 per share CEO statement“Looking back, 2022 was... detalii