Financial Services Report Romania

  • ID: 2139176
  • July 2015
  • Region: Romania
  • 21 Pages
  • The Economist Intelligence Unit
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Financial stability has not been in question in Romania over the past year, but the financial sector will continue to face difficulties arising from significant exposure to Greek debt, crossborder deleveraging and high levels of bad loans, which are having a negative impact on lending, asset quality and bank profitability. However, economic recovery picked up in 2014 and has gathered momentum during the first half of 2015. The Economist Intelligence Unit has revised up its real GDP growth forecast for 2015, from 3.5% to 4%, to take account of the first-half performance and the likely further boost to domestic demand from a cut to the value-added tax (VAT) rate and strong real wage growth.

Romania has a significantly smaller financial sector than its EU partners. Finance and insurance accounted for just 2.9% of GDP in 2014, compared with 4.9% for the EU as a whole, according to Eurostat. The industry employed only 1.3% of Romania workers, half the 2.6% recorded in the EU overall.

Credit institutions hold the largest share of the financial system's assets, followed by non-bank financial institutions and investment funds. Over 2013 and into the first half of 2014, the share of credit institutions declined slightly, while that of investment funds and private pension funds increased.

Industry List: Asset management, Financial Services, Banking, Financial Services, Financial markets and instruments, Financial Services, Financial regulation, Financial Services, Financial Services, Financial Services, Insurance
Industry Codes (NAIC): 52
Industry Codes (SIC): 60

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Financial Services Report Romania

Financial services report



Asset managers

Financial markets and instruments

Financial regulation
Regulatory watchlist

Monetary and currency policy: Monetary policy

Monetary and currency policy: Exchange rates

Romania at a glance

Fundamental indicators

Key contacts

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Note: Product cover images may vary from those shown


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