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Economy and Banking Sector of Romania

Financial Market Development

Financial Market Development
3.7 (max 7.0), 88th out of 138 countries
Banks' Soundness
4.6 (max 7.0), 79th out of 138 countries

According to World Economic Forum's Global Competitiveness Report 2017-2018, financial market development in Romania is scored 3.7 out of maximum 7.0 and ranked 88th out of 138 analysed economies, trustworthiness and confidence of financial market is scored 4.7 (42nd place).

Financial Market Development in Romania.

Chart 1. Financial Market Development in Romania. Source: WEF.


Soundness of banks is scored 4.6 bringing Romania into the 79th place.

Soundness of Banks in Romania.

Chart 2. Soundness of Banks in Romania. Source: WEF.

Further Information

Banking Focus

Banks in Romania are mainly focused on the following areas:

  • cooperative retail banking
  • universal banking
  • retail and corporate banking

Banking Supervision

National Bank of Romania

National Bank of Romania

Banking Sector Structure

Number of Banks
77
Consolidated Assets (2018)
99,751.12 mln EUR  (+6.41%)
Recent Changes (2018)
new banks: 3, closed banks: 3

Currently there are 77 credit institutions operating in Romania.

In 2018 consolidated banking assets in Romania were 99,751.12 mln EUR. The consolidated banking assets' evolution is shown at Chart 3 below.

Consolidated banking assets in Romania.

Chart 3. Consolidated banking assets in Romania.

Recent structural changes (2013 - 2018) of the banking sector of Romania are summarised in Table 1.

201320142015201620172018
Number of Opened Banks120103
Number of Closed Banks113003

Table 1. Recent structural changes in the banking sector of Romania.

The list of the most recently opened banks in Romania is provided in Table 2.

All the credit institutions operating in Romania can be classified into several categories. Table 3 summarises the number of banks in each category.

CategoryNumber of Banks
Banks25
Branches of foreign banks8
Central banks1
Cooperative banks41
Housing savings banks2

Table 3. Number of banks by category in Romania.

There are 8 branches of foreign banks from 7 different countries in Romania. Table 4 shows the number of branches grouped by the country of origin.

Country of OriginNumber of Branches
FR France2
IT Italy1
NL Netherlands1
ES Spain1
IE Ireland1
BG Bulgaria1
PL Poland1

Table 4. Number of branches of foreign banks in Romania grouped by country of origin.

Deposit Guarantee Scheme

Maximum Protected Amount
100,000 EUR

Deposit guarantee scheme is a financial stability mechanism implemented in many countries to protect bank depositors against the loss of their deposits in the case when a bank is unable to meet its obligations to depositors by compensating certain deposits held by depositors of the bank. This compensation is paid out from the contributions which banks have made into a deposit guarantee fund.

From a depositor's point of view it is important to know:

  • if the depositor is eligible within the terms of the deposit guarantee scheme;
  • if the depositor's bank is a participant in the deposit guarantee scheme;
  • if the depositor's type of deposit is covered by the deposit guarantee scheme.

All these details about deposit guarantee scheme in Romania are summarised in Table 5.

Maximum Protected Amount
100,000 EUR
Scheme Participants
all credit institutions operating in Romania
branches of non-EU banks
branches of Romanian banks abroad
Scheme Exemptions
branches of EU-banks (covered by their home countries)
Eligible Depositors
natural persons
legal entities
Non-Eligible Depositors
credit institutions
financial institutions
investment firms
insurance and by reinsurance undertakings
pension funds
central, local and regional public authorities
Covered Accounts
any credit balance, including
  • time deposit accounts
  • current accounts
  • savings accounts
  • debit/credit card accounts
Non-Covered Accounts
electronic money
Paid In Currency
RON

Table 5. Deposit guarantee scheme in Romania.

Further Information

Country Ceiling for Deposits

Moody's country ceilings for deposits specify the highest rating that can be assigned to local- or foreign- currency denominated deposit obligations of a bank or other deposit taking institution domiciled within that country.

Local Currency (Romanian new leu)
A3 (upper medium grade)
Foreign Currency
Baa3 (lower medium grade)

Local currency (Romanian new leu) deposit ceiling for Romania is set to A3 (upper medium grade), foreign currency deposit ceiling is Baa3 (lower medium grade).

Deposit Rates

Average Deposit Rate (Feb 2019, RON)
1.54 %  (Jan 2019: 1.60 %)
In February 2019, an agreed annualised deposit rate in local currency (Romanian new leu) of new contracts with agreed maturity up to 1 year between credit institutions and households was 1.54%.
Deposit Rates in Romania.

Chart 4. Deposit Rates in Romania. Source: ECB.

Further Information