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Romanian financial companies raise net assets 10% in April to 5.38bn lei

The assets of the five financial companies in Romania known as SIF grew by an average 10.1 percent in April over March, to 5.38 billion lei, but are below the level of at the end of last year, according to data from the Funds Managers Association (AAF).

SIF Banat-Crisana (SIF1) registered the highest monthly growth of 23.26 percent to 999.04 million lei while SIF Transilvania (SIF3) had the biggest assets in April of 1.3 billion lei, after a 14.20 percent hike.

SIF Muntenia (SIF4) counted assets of 1.17 billion lei at the end of April, 0.35 percent over the March level and SIF Oltenia (SIF5) saw a 15.32 percent hike in assets to 1.09 billion lei.

Yet, SIF Moldova (SIF2) witnessed a 0.42 percent monthly slip in assets to 819.82 million lei.

SIF market value in April stood at 2.5 billion lei. The closing prices on the capital market at April end registered significant hikes, of up to 112 percent at SIF Banat-Crisana.

Liquidity on the capital market last year was affected by the international financial crisis after foreign players made an exit, which triggered a fall in trading prices to lows unseen until now.

The medium liquidity of stocks listed on BSE stood around 7.58 million euros, less than half in 2007. On the whole market, including bonds and futures, the average liquidity was of 7.85 million euros.

The stock market in Bucharest could resume growth starting with the second half of this year, after trading values stabilize for a period, but 2009 will be a rather frail year, as the world's largest economies plunge into recession, brokers surveyed by NewsIn at the end of last year forecast.

 

Sursa: http://www.newsin.ro

Tags: sif assets april market billion financial percent

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