Intermediation revenue amounted to RON8.8 million and was 13.8% lower than in the first half of 2023. Net commission income shrank by 10.1% to RON4.1 million and market making revenue declined by 16.2% to RON4 million. Total core business-related expenses stood at RON7.5 million compared with RON8.3 million in the same time last year.
“We note that the proceeds from the Hidroelectrica IPO are not captured by these financial statements (as the transaction date is in July 2023),” Monica Ivan, BRK Financial Group CEO, wrote in the half-year report.
The result of the investment activity (RON4.15 million loss compared with RON6.81 million loss in the first half of 2022) is mostly affected by interest expenses (RON2.14 million) and the effect of the revaluation (marking to market) of portfolio positions (RON1.65 million net revaluation result), while the realized (marked to market) result together with dividends received is positive (RON240,000).
(English version by Loredana Fratila-Cristescu)