Raiffeisen Bank and the Mobile Emergency Assistance, Reanimation and Extrication Services (SMURD) launched, yesterday, a debit card co-branded under the MasterCard signature.rnrnVladimir Kalinov, deputy president of Raiffeisen Bank’s Retail Division, stated, during a press conference, that the use of the card would result in the transfer, to the account of “Fundatia pentru SMURD”, of 0.5 % of the value of every transaction, conducted at the sellers or online, and 50% of the annual administration fee.rnrnAccording to Raed Arafat, the chairman of “Fundatia pentru SMURD”, the money thus collected will be used to purchase an intervention plane.rnrnEducation, health, sport, environment and culture are the five domains which Raiffeisen Bank intends to support by means of Corporate Social Responsibility (CSR) programmes. Following an internal polling of the bank’s clients and staff, Steven van Groningen, chairman and CEO of Raiffeisen Bank, stated that 80% of the respondents argued that a bank should back CSR projects in the healthcare domain. This was the starting-point of the partnership between Raiffeisen Bank and SMURD.rnrnRaiffeisen Bank Romania is a first-rank universal bank, which offers a full range of financial services and products to its clients – individuals, SMEs or corporations. Raiffeisen Bank has a network of 540 offices throughout the country, which cater to approximately 2M individual clients, 100,000 SMEs and 6,800 medium and large-scale corporations.
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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