Bucharest Stock Exchange halves profit in 2012, sees a one-third drop in share deals

Romania's Bucharest Stock Exchange (BVB) saw its net profit down by almost a half in 2012, to some EUR 2 million, while its turnover was 19.5 percent lower, of some EUR 3.9 million, mainly because investor transactions diminished. On the shares market, the drop in deals was of 30.8 percent, to some EUR 1.6 billion, around EUR 0.8 billion less than the year before. Most traded shares were the blue chips Fondul Proprietatea (symbol FP) – with almost half of the total trade, then BRD – 8 percent of the trade, SIF Transilvania (SI 3) and OMV Petrom (symbol SNP), each with 7 percent of the trade, and SIF Moldova (symbol SIF2 ) with 6 percent. Increases were however recorded on the structured products segment, both in total value – EUR 152 million, up 57 percent year-on-year, and in daily traded value, some EUR 600,000, which was up 60 percent on the year before. BVB's revenues from trading went down by 20.7 percent, to some EUR 300,000. The total profit last year was half the amount in 2011, when the BVB cashed in dividends from the Central Depositary, including an exceptional dividend from 2007 and 2010. BVB's total revenues in 2012 were of EUR 5.7 million – down 13 percent - while its expenses were down 16 percent, to some EUR 3.4 million. editor@romania-insider.com