The same holding of 10.66% was calculated by Ziarul Financiar in the first quarter of 2020 too, which means all five SIFs, among the largest investors on the Bucharest Stock Exchange, stood on the sidelines as regards trading with BRD shares in April, May and June.
BRD has a market capitalization of RON8.3 billion, relative to the latest trading prices, and its shares have been depreciating by 24% since the start of 2020, a situation also caused by the fact that the bank did not pay dividends to its investors, following a shareholder decision in the spring of 2020. If dividends from the bank’s 2019 profit still stood, then, the five SIFs should have received a gross RON122 million, of which RON47 million was supposed to be cashed by SIF Oltenia (SIF5).
SIF Oltenia holds the biggest stake in BRD, among the five SIFS, per ZF’s aggregate data. In the first half of 2020, SIF Oltenia held 4.11% of the share capital of BRD, which translates into a RON331 million investment.
SIF Transilvania is the second largest SIF shareholder in BRD, with a participation of 3.3%, which translates into nearly RON265 million in June 2020, per data from the half-year report.