Finance | 3 July, 2025 at 7:00 PM
Romania to double turnover tax for banks
Romania's Government aims to double the special turnover tax for banks to 4% as part of a wider fiscal package designed to balance public finances.
Romania's Government aims to double the special turnover tax for banks to 4% as part of a wider fiscal package designed to balance public finances.
Representatives of Romanian banks are opposing the Government's intention to introduce another supplementary tax on the profits generated by credit institutions.
The net profit of the entire banking system amounted to RON 14.197 billion (€2.86 billion) at the end of 2024, up 5% compared to 2023, according to the annual report for 2024 published on Monday by the National Bank of Romania.
The Ministry of Finance secured RON 846.5 million (€167 million) from banks on Monday through a benchmark government bond issue with a residual maturity of 23 months, at an average annual yield of 7.23%,
The average instalment for buying a one-bedroom apartment in Bucharest came to hold a percentage of about 40% of the average wage at a national level, down from 43% a year ago.
Fintech solutions are currently the main driver for the development and differentiation of the offer of financial-banking institutions in an increasingly competitive and dynamic market.
Rodbun Group, a leading Romanian company active in the agribusiness sector, has signed a syndicated credit facility totalling €101.5 million.
Power company Electrica has successfully priced its inaugural €500 million green bonds, with a five-year maturity, at a competitive 4.566% yield.
OMV Petrom recorded a hydrocarbon production of 102,200 barrels of oil equivalent (boe) per day in Q2 2025.
Private equity firm Innova Capital has announced the launch of its Technology Advisory Board, which is the first of its kind in CEE.
The National Bank of Romania (BNR) is maintaining the key interest rate at 6.50% per annum, following a decision of the Board of Directors.
KC Agro is significantly expanding its agricultural capabilities with two strategic new developments in Timiș County, Romania.