“I believe that by the end of the year it is feasible for us to become market maker for all state bonds listed on the bourse. We want to cover all trading channels for state bonds, namely the central bank’s OTC market and the BVB segment. We aim to bring to the bourse some of the high liquidity of state bonds on the OTC, at smaller spreads,” Flus said.
Piraeus Bank Romania became Friday the first market maker for state bonds on the Bucharest bourse.
Piraeus Bank Romania ranked third last year among the 23 bonds brokers on the Bucharest bourse, with a turnover of 485.8 million lei (EUR114.52 million). However, in the first half of this year, the bank did not broker any transactions with state bonds.
Piraeus Bank Romania had assets worth EUR2.24 billion at the end of the first quarter, up 8% on the year. The bank posted a pretax profit of EUR6.6 million for the first three months.
Piraeus Bank operations in Romania include Piraeus Bank Romania, Piraeus Leasing and Piraeus Insurance Reinsurance Broker Romania.