The fund expects total revenue of RON165.5 million, slightly higher from RON164.4 million in 2011, while overall costs are seen stable at RON64.7 million.
“The proposed revenue and expenditure budget is prudent and doesn’t consider the potential sale of the fund’s stake in lender Banca Comerciala Romana, or BCR,” SIF Oltenia said.
SIF Oltenia owns around 6.3% of BCR’s shares. The fund has declined several times to sell its stake to Austrian bank group Erste (EBS.RO), majority holder in BCR.
The 2013 draft budget is subject to shareholder approval at a meeting due April 19.
SIF Oltenia’s shareholders will also vote on the 2012 dividend at the April meeting. The company proposed a gross dividend of RON0.13 a share, similar to the one offered in the previous year. (EUR1=RON4.4179)