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CEC Bank: 15.5m-euro gross profit, down 50% on 2007
CEC Bank has posted gross profit worth 57 million RON (15.5 million euros), over half of the profit for 2007 as a whole (91 million RON). CEC Bank is the new name of the Romanian Savings Ban...
Real estate loans slow down in first two months of 2008
The volume of real estate and mortgage loans went up by 4-5% in the first two months of the year, from rates of 7-10% registered in the last few months of 2007, after the demand for loans, b...
Agras business down one third, to 4 million euros
Agras Vienna Insurance Group underwrote gross premiums worth 13.18 million RON (around 4 million euros) in 2007, down 39% on the previous year, while gross profit went up 11 times and reache...
Burduja, Raiffeisen: Real estate speculators are backing down
The greedy, play-it-by-ear innovative spirit of some local developers has pushed the real estate market into an unnatural state of affairs, however things will return to normal within two ye...
Lending up, savings down in March
Credit taken out by companies in the private sector sped up once again in March and increased by 3.3% after a slower increase in January and February. In parallel, the appetite for savings w...
Volkswagen slows down Porsche Romania sales
Sales of Porsche Romania, the representative on the local market of VW-Audi and Porsche groups, increased by 9.2% in the first quarter of this year, and reached 13,470 vehicles, according to...
Car imports see growth slowing down
The main imported car brands saw their growth rate fall to around 22% in the first quarter, according to ZF calculations, compared with 50% in 2007. The only brands that boasted rapid growth...
Low volume of assets keeps mutual fund managers' salaries down
Investment managers make an average 1,500 euros a month on a mutual fund market where profitability is highly dependent on the volume of managed assets. The salaries earned by local investme...
Bancpost drops down payment on mortgage loans
Bancpost, one of the top ten banks in Romania, has decided to increase the maximum indebtedness accepted to 70% of a monthly net income, and finance up to 100% for the acquisition of buildin...