Millennium Bank clients can now access the Internet Banking service using Google Chrome, Safari and Opera internet browsers. With the launch of the new design for the bank’s website www.millenniumbank.ro, which is friendlier and allows easier navigation, clients also benefit from these improvements of the Internet Banking accessibility. Up to now, the service could be accessed using Internet Explorer and Mozilla Firefox, said the bank in a statement.rnrn“The usage of Google Chrome has been constantly increasing, according to statistics, and it recently became the most used internet browser in Romania. Millennium Bank is always trying to adapt quickly to our clients’ changing needs and we are glad to be able to announce this improvement of the Internet Banking service”, Florentina Mihai, Head of Alternative Channels with Millennium Bank, stated.rnrnApproximately 70% of Millennium Bank’s individual clients have also contracted the Internet Banking service. Almost 80% of the transactions performed by the bank’s individual clients in September 2012 were made through the Internet Banking service, and their volume amounted to RON 53 million.rnrnMillennium Bank’s Internet Banking service allows customers to administrate all the products they have contracted from the bank. It provides access to all the accounts, deposits, cards or loans and the clients can perform any operation – pay bills and loans instalments, create deposits, predefine beneficiaries’ payment details for future transfers, modify the card PIN and the ATM and POS transaction limits etc. The transactions are authorized by SMS, providing a high level of security. After having filled in the transfer details within the Internet Banking application, clients receive an SMS on their mobile phone confirming the amount to be transferred and containing a seven digit arbitrarily generated authorization code. The service is free of charge and the fees for the transactions operated through Internet Banking are 50% lower than those performed in the branches.rnrnThe bank also offers SmartPhone Banking service, available for free for Apple mobile devices and Android operating system devices. Launched a year ago, “MillenniumRO” application can be downloaded from AppStore or Android Market and allows clients to view current and savings accounts, term deposits, loans and credit cards and perform transactions directly on their mobile phones.
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
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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 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