Business Forum • 29 January, 2026 at 5:26 PM
Romania's Ministry of Finance attracted RON 1.86 billion (€367.3 million) through seven government bond issues for retail investors in January, marking the first Fidelis offering of 2025. The bonds began trading on Bucharest Stock Exchange (BVB) on Thursday.
The offering, held between January 16-23, received almost 18,500 subscription orders from Romanian investors. Euro-denominated tranches proved particularly popular, accounting for 62% of subscriptions, with the 10-year euro issue alone attracting over €152 million through more than 5,600 orders.
"This year's first edition of Fidelis reconfirms citizens' constant interest in safe savings tools," said Alexandru Nazare, Minister of Finance. The program supports both personal savings development and social involvement through a tranche dedicated to blood donors.
Radu Hanga, BVB President, noted that the program contributes to financial market development and increased financial education in Romania. "The success of the Fidelis program demonstrates that Romanians are increasingly interested in diversifying their portfolios and making informed financial decisions," he said.
Since launching in August 2020, the Fidelis program has completed 32 offerings, raising almost RON 64 billion (€12.9 billion) from retail investors. The next offering is expected in early February. Income from Fidelis bonds, including interest and capital gains, remains non-taxable for investors.