Bucharest Stock Exchange reports a 5.3 percent net profit decrease for the first three quarters

The Bucharest Stock Exchange (BVB) registered a RON 11 million (approximately EUR 2.6 million) turnover in the first nine months of the year, 23.7 more against the similar period of 2010. Affected by smaller value transactions, the net profit reached RON 6.17 million (approximately EUR 1.4 million), marking a 5.3 percent decrease.

If at the end of September 2009 BVB posted an operating loss worth RON 0.9 million (EUR 0.2 million) at the end of September 2010 it turned an operating profit of RON 2.1 million (EUR 0.5 million).

 “The first nine months of the year were affected by incertitude, both on external and on the Bucharest stock market. This fact left many investors sit on the fence”, said Valentin Ionescu, general director of BVB. He added that BVB managed to “significantly” increase its turnover and to post operating profit for another quarter, thus exceeding initial targets.

Year-to-day results reflect an increase of revenues generated by the higher tariffs related to stock trading activities, income from stock information services, and commissions levied on issuers and participants in the trading system, explain BVB representatives.

Simona Bazavan

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