In the third quarter of the year, the group’s profit rose 147% to RON2.5 million.
BVB group includes the Central Depository, Investors’ Compensation Fund and Bucharest Clearing House.
On an individual level, BVB reported a net profit of RON5.1 million, up 6% compared with the first nine months of 2015.
The trading value fell 11% to RON8 billion in the first nine months of the year, while in the third quarter, trading value rose 36% on the year to RON3.3 billion.
Trading value for shares rose 4% to RON6.5 billion in January-September and fell 2% in the third quarter of the year.
“Trading activity with shares registered by all BVB markets declined by 2% y-o-y in the third quarter, to RON2.14 million, while the cumulative figure for the first nine months was 4% above the year-ago value,” BVB said in a statement.
The offers market had a notable contribution to this value. The two buy-back programs for their own shares run by Fondul Proprietatea and SIF Banat Crisana respectively accounted for RON380 million, while the takeover bid in which Lactalis acquired more than 95% of the shares of Albalact was worth RON325 million.
Two important trades were executed on the offers market for fixed-income instruments (bonds and government securities), driving the traded value 8 times higher in the third quarter compared to the year-ago period. The Government sold a new issue government bonds dedicated to retail, amounting to RON735 million, which was oversubscribed7 times, and International Investment Bank sold its second issuance of bonds in total value of RON300 million.
Trading on the structured products market declined by 11%, while for the first nine months of the year it reached RON330 million, 4% more than in the first three quarters of 2015.
At the end of the first nine months of 2016, total assets of BVB Group were RON225.65 million, significantly higher compared to both the beginning of the year and the end of the first half. The increase was determined mainly by transfers made by BVB-listed issuers to the Central Depository for dividend payments, such amounts being reflected in the current assets of BVB Group. Thus, the amounts necessary for dividend payments represented approximately 97% of cash and equivalents, as of end-September.
The same increase was also visible for the group’s payables, as dividends payable to the Depository’s clients accounted for 78% of the total payables balance. The guarantee funds and margin, worth RON 20.26 million, represented another 17% of payables at the end of September.
Data available for October indicate a higher trading value by 15% in October as compared to September, also supported by the secondary public offer for OMV Petrom shares, worth RON682 million, BVB said.
The Bucharest Stock Exchange convened a shareholders’ meeting for 14/15 December 2016 to present the Report of the Board of Governors on the process of a potential merger with SIBEX – Sibiu Stock Exchange S.A. and the in -principle approval of the merger with SIBEX-Sibiu Stock Exchange S.A.