Archive » February 2009 » 15 February 2009 The english news from 15 February 2009
Listed company losses in Q4 at some Euro127 mln
Companies listed on the main market of the Bucharest Stock Exchange (BVB) announced total losses worth RON 482.2 million (€126.9 mln) in last year's fourth quarter, which was one of the weakest quarters in the past few years. Losses were caused mainly by the reevaluation of debts and the setting up of provisions. Most listed companies were affected by the depreciation of the national currency against major currencies…
BRD-Groupe Societe Generale net profit up 33% to 367 million euros
BRD-Groupe Societe Generale, the second-largest local bank, posted 367 million euros in net profit last year, an increase of about 33% on the 2007 figures, including the 61 million-euro proceeds from the sale of the Asiban stake. "The crisis hit Romania as late as the fourth quarter and consequences were marginal. We had anticipated a slowdown of the economic growth since as early as the first quarter and took steps to contain overall spending,"…
Romanian lender Banca Carpatica sees 2008 profit plunge 12 times y/y to 187,000 euros
Romanian lender Banca Comerciala Carpatica (BCC) registered a net profit of 689,000 lei (187,000 euros) in 2008, 12 times smaller than in 2007, as the bank focused on the medium and long term management of its portfolio rather than on results and market share, the company announced. The bank reported a net profit of 8.42 million lei in 2007…
Romania, And Others, Could Bankrupt Austria
Eastern European states, including Romania, could bankrupt Austria, since Austrian banks cannot support the losses registered by branches in the region on their own, and the state will be forced to intervene, according to Austrian magazine Profil. The publication also notes an additional risk from the instability of the Euro and asked rhetorically "the state supports the banks, who supports the state?"…