BVB reports year-on-year H1 net profit almost three times higher

The net profit of BVB went up to 12.5 million lei (roughly 2.95 million euros), after the first six months of this year, and the turnover to 10.9 million lei, reporting a 28.4 percent increase as the revenues from trading went up. On June 30, 2011 the BVB operational profit reached 4.26 million lei, reporting a 77.8 percent increase. The higher turnover in the first half of the year was triggered by the 43 percent increase in the liquidity on the shares' and fund units' markets, of the growing liquidity on the market of the structured products but also by the 13 percent increase in the revenues of the listed issuers. 'The financial results over the first six months prove the improvement of the financial indices, once the daily trading average doubled in 2011 compared to the average on 2010 and by the registration of the dividends at the Central Depository,' the aforementioned release reads. According to BVB managing director Valentin Ionescu, the first quarter of this year was characterized by improving prospects for the Romanian economy and for the capital market but the second quarter warned about the crisis of the sovereign debts. 'The uncertainty in the region affected the appetite for risk of the investors and a lot of stock markets, BVB included, went through a worse patch, with dropping prices and trade values. Nevertheless, the half-year results of BVB are in line with our expectations,' said Valentin Ionescu.

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