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Romania's capital market watchdog OKs Alpha Bank Romania to directly operate on BSE

Romanian lender Alpha Bank Romania received the capital market watchdog's (CNVM) approval to trade shares directly on the Bucharest Stock Exchange (BSE), CNVM announced.

Besides the activities of taking over and sending trading orders or making public offering, the lender will also offer consultancy services.

Alpha Bank also has to become member of the fund to compensate investors (FCI).

As many as 73 brokers currently operate on BSE, most of them being brokerage houses.

Alpha Bank Romania booked a 20.8 percent higher profit before taxes last year, to 45.8 million euros, as the lender completed risk provisions of 33.2 million euros in 2008.

Its credit portfolio reached 4.17 billion euros at the end of last year, a 53 percent boost compared to the end of 2007. Consumer loans and mortgages witnessed the highest growth rates, of more than 70 percent year-on-year.

At the end of last year Stere Farmache gave up the helm of BSE to become first-vicepresident of Alpha Bank. He remained though the president of Romania's core bourse.

 

Sursa: http://www.newsin.ro

Tags: alpha romania

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