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20. 01. 12. - 13:00

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20. 01. 12. - 13:00

Banca Transilvania appoints new CEO after Rekkers unexpectedly resigns

Romanian Times

Romanian bank Banca Transilvania announced today (Fri) it had appointed Peter Franklin as interim general manager, after Robert Rekkers unexpectedly resigned his position after nine years.

Peter Franklin has been part of the Administration Council of Banca Transilvania since 2010. With 37 years experience in the banking system, Franklin has previously held positions at General Electric, HSBC, Chase Manhattan Bank and has worked in Asia as well as Europe.

Robert Rekkers had been CEO of the Banca Transilvania since 2002, when he was appointed for a four year period, and his contract was renewed three times.

Romanian bank Banca Transilvania has a capitalisation of 1.606 billion RON (369,6 million Euros), according to Thursday's Bucharest stock exchange value.

Banca Transilvania registered a net profit of 24.8 million Euros (106.9 million RON) in the first nine months last year, up by 53 per cent compared to 16.5 million Euros (69.71 million RON) in the same period a year earlier.

Robert Rekkers, general manager of Banca Transilvania, said: "Despite the difficult economic context, at Banca Transilvania we have registered results in conformity with our expectations."

Banca Transilvania was founded in Cluj-Napoca in 1994 and it is currently one of the largest banks in Romania. It is owned to 53.11 per cent by Romanian share holders.

Its stock holders are: The Euroepan Bank for Reconstruction and Development (14.61 per cent), Bank of Cyprus (9.7 per cent), SIF Moldova (5 per cent).

Health minister considers taxing fast food and beer
The new Health Minister Vasile Cepoi said today (Thurs) that the next Health Care Law might include a new tax on fast food and beer, local press informs.

Romania wont ratify ACTA
Romania will not ratify the highly controversial (Anti-Counterfeiting Trade Agreement)ACTA until the agreement won't be altered as to comply with demands recently formulated by the European Court of Justice, the minister of Communication Dan Nica told a press conference today (Thurs).

Romania wont ratify ACTA
Romania will not ratify the highly controversial (Anti-Counterfeiting Trade Agreement)ACTA until the agreement won't be altered as to comply with demands recently formulated by the European Court of Justice, the minister of Communication Dan Nica told a press conference today (Thurs).

Government to introduce ‘Robin Hood’ tax on oil companies
Minister of Economy Daniel Chitoiu announced today (Weds) that the government is working on a piece of legislation on introducing a supplementary tax on the exceptional incomes of the oil companies that should be passed by the year end and implemented as of 2013.

Education Minister stepps down amid plagiarism accusations
Ioan Mang, the education minister appointed only two weeks ago together with the new cabinet of Social Liberal Union (USL) leader Victor Ponta, resigned Tuesday (yesterday) night.

Brancusi’s son doesn’t want his father remains to be moved to Romania
John Moore, the only child of sculpture Constantin Brancusi, reacted to Romania’s intention to repatriate the remains of his father, saying his last will was to be buried in Paris at Montparnasse, Libertatea newspaper informs today (Weds).

Romania back in recession, growth to resume in H2
Romania officially entered recession today, following the figures published by the National Statistics Institute (NSI) that show a decrease of the GDP for two consecutive quarters (Q).

Police head sacked over underground boss runaway row
The head of the Romanian Police Liviu Popa (picture) was sacked today (Tues) by Home Affairs Minister Ioan Rus, the ministry informs.

UK Ambassador Harris says new Cabinet took right decisions so far
The UK Ambassaodr in Romania, Martin Harris says Victor Ponta’s new government got off on the right foot by making clear that its economic policy will continue to be framed within the programme agreed between Romania and the EU, World Bank, and IMF.

Carmen Sylvas x-rayed hand to be auctioned
A x-ray of the left hand of Romanian Queen Elisabeta will be auctioned in Bucharest by Artmark auction house, Libertatea newspaper informs today (Tue).