S & P Lowered Estimates On Incidence Of Recession In RomaniaPublish date: 05-08-2008
Standard & Poor's Ratings Services changed Monday its estimate of the incidence of gross problematic assets in the Romanian financial system under a reasonable (but not catastrophic) scenario of economic recession to 25%-40% from 35%-50%, the ratings agency said.
S&P also raised its Banking Industry Country Risk Assessment on Romania to group 7, from the previous group 8 assessment.
"The upgrade reflects the good growth and profitability performance of the Romanian banking sector, following several years of a healthy growth pace and accumulating wealth in the economy, and massive inflow of foreign investments into the banking sector, which has created a solid funding base for credit acceleration," the ratings agency said.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei