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.
Mozaik Investments has announced the acquisition of a majority stake in Genesis College, one of Romania's largest private educational institutions.
Romanian energy producer Romgaz Group has released its preliminary operational results for H1 2025, showing a largely stable performance compared to the same period in 2024.
T2Y Capital, a financial investor focused on growth capital in the energy sector, is investing in Prime Batteries, making it the second-largest shareholder.
Orange Romania recorded a consolidated turnover of €684 million in H1 2025, a 2.1% decrease compared to the same period last year.
Citi Romania has implemented three GenAI tools for its employees, as part of a significant global investment designed to simplify workflows and streamline daily tasks.