Archive » February 2009 » 12 February 2009 The english news from 12 February 2009
Record profit for banks in 2008: over 1.27 billion euros
Net profit in the Romanian banking system exceeded one billion euros in 2008, reaching a record high of over 1.27 billion euros, following an approximately 67% growth compared with 2007, according to the reports submitted to NBR. The year 2008 therefore stands out as the best year the banking industry has had after 1990, with profits made in the first half of the year offsetting the decline that started in the autumn…
Erste posts Q4 loss due to provisions and amortizations
Provisions and amortizations worth some €500 million of the goodwill fund, including its Romanian subsidiary, swallowed the earnings of last year's final quarter of Austrian Erste Group, majority shareholder of Banca Comerciala Romana (BCR). The net profit reported by Erste Group for 2008 amounts to €860 mln, €603 mln less than the net result registered at the end of last year's first three quarters…
Romania could brake economic advance to 0.8% in 2009, Standard & Poor's estimates
Romania will see an economic advance of only 0.8 percent this year compared to the 7.3 percent reported in 2008 and the current account gap will adjust to 10.6 percent of the country's gross domestic product (GDP), rating agency Standard & Poor's (S & P) estimates in a report…
Romania To Lower Car Tax, Pay Back Tax Differences
Romania's pollution tax on cars will be reduced from the current values which is triple compared to July 2008 and vehicle owners who paid the tripled tax might get their money back. The government will adopt the changes by emergency decree in the following Cabinet meeting, environment minister Nicolae Nemirschi said Wednesday…