BNR Exchange Rates
10.02.2012- 1 EUR
4.3529 RON - 1 USD
3.2831 RON - 1 CHF 3.5986 RON
- 1 GBP 5.1981 RON
- 1 gr. aur181.2627 RON
BVB posts RON 8 million in profit, with business falling 40 pctUpdated: 16-02-2010 | Business
Bucharest Stock Exchange (BVB) posted 8 million (1.88 million euros) in net profit last year, down 25 pct compared to 2008 figure, but leaving behind initial estimates, of RON 6.5 million.Turnover dipped more than 40 pct, down to RON 12 million (EUR 2.83 million), amid collapse in the value of transactions on the Stock Exchange by 45 pct, and also due to 10 pct cut in trading commissions, in March 2009. In this context, a significant part of the profit came from interests generated by investments in deposits and government securities.
The Stock Exchange had deposits and placements in government securities worth some RON 70 million in end-2008, of which it distributed dividends to shareholders amounting to over RON 10 million last year.
'The financial profit contributed a great deal to the final figure, but we also had operating profit, amid tighter control of costs,' said Anca Dumitru, BVB general manager, quoted by Agerpres.
Exchange's total revenues last year amounted to RON 23.5 million, 25 percent fall compared to 2008, while total expenses were reduced by 28 percent, to RON 13.9 million. Shareholders will approve the final results in April, when they will also decide on how profits are going to be distributed. Two weeks from now, the BVB shareholders are called upon to decide on listing the stock exchange on its own platform and elect the next Board of Administration for a 4-year tenure.
Latest News:
- Combined revenues of the top 20 Deloitte Football Money League clubs exceed €4.4bn to defy European economic woes
- Five banks join the partnership between RBS Romania and Vodafone for the payment of mobile telephony bills by inter-bank direct debit
- The Western Union Company reported financial results for the 2011
- Vodafone Romania reports financial results for the third quarter of the financial year 2011 - 2012
- Business needs to do more to manage deal risks in growth markets, urges PwC report
- COSMOTE Romania advises parents to keep their children safe on the internet, for the 4th year in a row
- President Basescu names Mihai Razvan Ungureanu to head new Gov't of Romania
- BNR decide do lower the monetary policy rate to 5.50 percent
- Romania: Record Transaction for the Office Market Outside Bucharest City Business Centre (CBC) in Timisoara Sold to NEPI
- METLIFE TO ACQUIRE THE CZECH, HUNGARIAN AND ROMANIAN OPERATIONS OF AVIVA plc
- BNR: Silver coin dedicated to 10 years anniversary of introducing euro coins and bills
- Deloitte: Top Trends in Telecommunications in 2012
- PwC: Big spending predicted in 2012 for gold mining companies
- The value of tax payments by card almost doubled in the first 11 months of 2011, to RON 69.4 million
- Deloitte: Top media trends in 2012. Media consumption is equally split between tradition and latest technologies
Most Popular News
- Three billion euros to be invested in energy private-public partnerships
- Romanian state plans to keep 8 pct of Petrom, at least
- IMF mission extends stay in Romania till May 9
- IMF, FinMin Vladescu discuss Government revenues collection
- Videanu admits that he is in conflict of interests in connection to Marmosim
- Greece gets 110 billion euros, biggest bailout in history
- BNR governor Mugur Isarescu: Situation is quite complicated
- Romanian-German meeting on fresh cooperation opportunities
- Gov't to earmark 6.4pc of GDP for investment
- FinMin Vladescu: Cutting 25pc off public wages pool will not generate needed savings
