May 2, 2011 / 6:06 AM / in 9 years

Romania - Factors to Watch on May 2

BUCHAREST, May 2 (Reuters) - Here are news stories, press reports and events to watch which may affect Romanian financial markets on Monday.

RESERVES

Romania’s central bank is expected to release foreign exchange reserves data for April.

DEBT AUCTION

Romania’s finance ministry tenders 1.5 billion lei ($545 million) worth of one-year treasury bills.

ROMANIA GOVERNMENT KEEPS 2015 EURO ENTRY TARGET

Romania’s centrist coalition government maintained its 2015 euro adoption goal in its euro convergence programme approved on Friday, Prime Minister Emil Boc said. [ID:nLDE73P0C5]

ROMANIA TO TENDER 3-YR EURO PAPER ON MAY 4

Romania will tender 600 million euros ($890 million) in three-year euro-denominated bonds on the domestic market on May 4, its first hard currency issue this year, the finance ministry said on Friday. [ID:nBUC003876]

BANCA TRANSILVANIA’S Q1 NET PROFIT UP

Romania’s second-largest listed bank Banca Transilvania BATR.BX reported a net profit of 31.8 million lei ($11.58 million) in the first quarter on Friday, above market expectations. [ID:nBUC003877]

ROMANIA’S BRD Q1 NET PROFIT SEEN DOWN 34 PCT

Romania’s second-largest bank BRD BRDX.BX, controlled by France’s Societe Generale (SOGN.PA), is seen posting a 34 percent fall in its first quarter net profit due to rising provisions and costs. [ID:nLDE73S0HN]

BCR

Shareholders of Romania’s largest bank, BCR, owned by Austria’s Erste Bank (ERST.VI), approved a capital increase of 55.4 million lei ($20.12 million) to 1.085 billion lei on Friday, sources said. Ziarul Financiar, Page 2

OTP BANK

Hungary’s OTP Bank OTPB.BU is in talks to take over the Romanian branch of Royal Bank of Scotland (RBS.L), market sources said. A preliminary offer could come in about two weeks. Ziarul Financiar, Page 6

FOREIGN INVESTMENT

American company Farmers’ Ethanol could invest about $150 million in a holding in Romania where it could produce bio ethanol and raise animals, Farm Minister Valeriu Tabara said.

Ziarul Financiar, Page 11

NOTE- For a diary of forthcoming Romanian events, double click [RO/DIARY], and a calendar of east European economic indicators, see [CONV/DIARY].

For other related news, double click on: ———————————————————————————————- Romania Market Debt [RO-DBT] Romanian forex [RO-FRX] Romania Market Report [ROL/] Romanian money [RO-M] Emerging Market Debt [EMRG/DBT] Emerging forex [EMRG/FRX] All Emerging Markets news [EMRG] CEE indicators [CONV/DIARY] All East Europe News [EEU] E.Europe equities [.CEE] TOP NEWS — Emerging markets [TOP/EMRG] TOP NEWS — Convergence watch [TOP/EAST] Romanian indicators [RO/ECI] Main page of Reuters poll <RO/POLL1> ———————————————————————————————-

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