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Romania Financial Sector ReportProduct Type: Market Research ReportPublished by: Internet Securities, Inc. (Intellinews) Published: July 2008 Product Code: R337-1299 Description Quarterly analysis and summary of the most significant developments in the banking and insurance sector.Table of Contents
Central bank may cut interest rates this fall, conditioned of change in inflationary expectations Credit growth decelerates to 61.3% y/y at end-May, net flow of loans remain strong on low base CEC is market leader in terms of retail network size Fitch places banking system in high systemic vulnerability class BCR reports highest Q1 consolidated net profit in its history CEC bank targets 5.5% market share Romanian insurance market has fastest growth in Europe in 2007, CEA reports Insurance market grows by 16.8% y/y in Q1 2008 to RON 2.38bn Warranties insurance increases by 144.66% y/y in Q1 2008 Life Insurance is more dynamic and more concentrated than general insurance segment Insurance market to reach EUR 7.5bn in ten years Private health insurance keeps strong potential Groupama takes over Asiban for EUR 350mn VIG sells local insurer Unita to Uniqa Generali group acquires Ardaf and RAI insurers Mandatory pension funds collect their first funds and make their first investments Four private pension companies decide to withdraw |
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