Bucharest Stock Exchange registers historic 55% growth in 2025, best since 2009
Investors on the Bucharest Stock Exchange saw the main BET index close at a historic high of 24,439 points in 2025, up 46% from the beginning of the year and 55% if dividends are included, the best annual growth rate since 2009.
The last trading session of 2025 confirmed the trend of an exceptional year, and the Bucharest Stock Exchange indices closed 0.7% higher, consolidating the local market’s position among the best-performing stock exchanges in Europe and even globally.
Roughly 300,000 people invest directly in the BVB, and 8.2 million do so indirectly, through pension funds. At the beginning of the year, few would have bet on such an ending. On May 15, 2025, BET was about 3% below its level at the start of the year, against the backdrop of political tensions, a high budget deficit, still-elevated interest rates, and concerns about the sustainability of public finances.
The second half of the year, however, brought a shift in sentiment, especially after the election of centrist Nicusor Dan as president and the establishment of a large governing coalition. Equities rallied during the spring and summer, according to Ziarul Financiar.
As a result, BET-BK, the benchmark index for investment funds, closed the year up 53.9%, BET-NG, dedicated to energy and utilities companies, nearly 49%, and BET-FI, for financial investment companies, 46%. The overall index, including dividends, BET-TR, rose by 55%.
At the company level within BET, 2025 was a year of sharp increases, especially in the energy and utilities sector. Transgaz (BVB: TGN) was the best-performing stock in the index, up 180% from the beginning of the year to a price of RON 65.9 per share. Transelectrica (BVB: TEL) rose by nearly 97% to RON 75, and Electrica (BVB: EL) by about 98% to RON 26.3. Similarly, Romgaz (BVB: SNG) rose by 93%, Digi Communications (BVB: DIGI) rose 80%, MedLife (BVB: M) rose by 73%, and Fondul Proprietatea (BVB: FP) rose by 70%.
OMV Petrom (BVB: SNP), the largest listed company, is up 40.5% after surpassing a market capitalization of RON 60 billion. BRD increased by 40%, and Banca Transilvania (BVB: TLV) by 33%.
Not all stocks kept pace with the general rally. Hidroelectrica (BVB: H2O), listed in 2023, had a modest performance of just 2.2%, to 124.4 lei, while Antibiotice Iași (BVB: ATB) fell by 3.7%, and Sphera Franchise Group (BVB: SFG) by nearly 6%.
Beyond prices, 2025 was also a landmark year in terms of market size. The Bucharest Stock Exchange surpassed the symbolic threshold of RON 500 billion (EUR 100 billion) in total market capitalization, a sign of market maturation and a return of confidence. The number of investors continued to grow, supported both by interest in equities and by the popularity of government bonds, which served as a gateway for many retail investors. On December 30, market capitalization stood at RON 538 billion.
(Photo source: BVB)
