CFOs of the largest CSE banks are optimistic

Bank PKO BP, one of the biggest CEE banks, Białystok, Poland (Henryk Borawski, CC BY-SA)

Moldova improves its economy

Petr Chmela – the Czech “EY Entrepreneur of the year”

Central and Southeast Europe

Rating agency Moody’s has published the results of its survey of business confidence. The survey was done among CFOs of 19 banks operating in Poland, Hungary, Slovakia, Slovenia and the Czech Republic, representing 30 per cent of total banking assets of these countries. The data revealed shows that CFOs are quite optimistic about “the outlook for the operating environment in 2017 and beyond”. At the same time they are worried about upcoming regulatory changes planned upon the European law, as “it adds uncertainties to the bank’s operations”.

The CFOs are optimistic about their banks’ assets quality. 89 per cent expect the level of NPLs will remain the same or decrease in 2017.

They’re not so optimistic when it comes to profitability – 63 per cent of respondents expect net interest margins to continue to fall, 42 per cent claim banks’ return on capital will decrease.

>>More

Moldova

In 2017 Moldovan economic growth will accelerate to 4.5 per cent GDP, the nominal average monthly salary will grow by 10.1 per cent y/y and the exports will increase 10 per cent. Thus it’s almost sure that this year Moldova will get USD21.2m under the three-year Extended Credit Facility and Extended Fund Facility (ECF/EFF) agreement between Moldovan government and the International Monetary Fund.

The Prime Minister Pavel Filip and the head of the IMF mission in Moldova Ben Kelmanson confirmed that both parties “have reached staff-level agreement” on the first review under the reforming program supported by ECF/EFF. After the approval of the “staff-level agreement” by the IMF Management and the Executive Board – scheduled in April 2017 –  those funds will be available for Moldova.

IMF has praised Moldovan government for:

  • restoring financial stability (by tackling long-standing vulnerabilities in the financial sector and advancing structural reforms),
  • establishing consistent 2017 budget and the medium-term budget framework,
  • focusing monetary policy on maintaining price stability in the context of a flexible exchange rate regime.

>>More

Czech Republic

EY has announced the Czech Entrepreneur of the Year. The award went to Petr Chmela, the co-founder and co-owner of Tescoma company.

Radio Praha informs that Tescoma, established in 1992,  is a world brand and “a well-known kitchenware company”. The company has about 1,000 outlets worldwide, received many prestigious awards for the excellency of design (Red Dot Award 2016, Good Design Award and Solutions 2016 and more). In 2015 it has built its export center in China.

In June 2017 winners from all countries will meet in Monte Carlo during the final stage of the competition when EY will announce the “World Entrepreneur of the Year”.

>>More

What’s up in indexes

BET (of Bucharest) increased from 7,969.94 index points Tuesday, February 28th to 8,037.45 index points Wednesday, March 1st. It was up 0.85 per cent d/d and up 23.45 per cent y/y.

BUX (of Budapest) increased from 32,061.33 index points Tuesday, February 28th to 33,343.05 index points Wednesday, March 1st. It was up 4.00 per cent d/d and up 40.86 per cent y/y.

CROBEX (of Zagreb) decreased from 2,221.02 index points Tuesday, February 28th to 2,206.95 index points Wednesday, March 1st. It was down 0.63 per cent d/d and up 41.48 per cent y/y.

OMXR (of Riga) increased from 740.50 index points Tuesday, February 28th to 760.30 index points Wednesday, March 1st.  It was up 2.67 per cent d/d and up 22.58 per cent y/y.

OMXT (of Tallinn) increased from 1,106.95 index points Tuesday, February 28th to 1,108.61 index points Wednesday, March 1st. It was up 0.15 per cent d/d and up 19.25 per cent y/y.

OMXV (of Vilnius) increased from 561.04 index points Tuesday, February 28th to 561.78 index points Wednesday, March 1st. It was up 0.13 per cent d/d and up 15.06 per cent y/y.

PX (of Prague) increased from 953.92 index points Tuesday, February 28th to 971.95 index points Wednesday, March 1st. It was up 1.89 per cent d/d and up 11.48 per cent y/y.

SAX (of Bratislava) decreased from 309.68 index points Tuesday, February 28th to 304.00 index points Wednesday, March 1st. It was down 1.83 per cent d/d and down 4.34 per cent y/y.

SOFIX (of Sofia) increased from 611.12 index points Tuesday, February 28th to 612.21 index points Wednesday, March 1st. It was up 0.18 per cent d/d and up 36.07 per cent y/y.

UX (of Kyiv) increased from 938.23 index points Tuesday, February 28th to 963.10 index points Wednesday, March 1st. It was up 2.65 per cent d/d and up 53.01 per cent y/y.

WIG20 (of Warsaw) increased from 2,191.25 index points Tuesday, February 28th to 2,253.96 index points Wednesday, March 1st. It was up 2.86 per cent d/d and up 23.50 per cent y/y.

Share this post

TOP