Last year, 64.11 % of the market value was given by the value of the listed stakes, compared with 67.14% at the end of 2015.
” SIF Oltenia strategy is to maintain the high shareholdings in banking, considering that in Romania the degree of financial intermediation is still low, so the banking market has growth potential. The positive development of profitability indicator of the banking system in Romania in the past two years (2015, 2016) leads us to be optimistic and maintain a high exposure of the managed portfolio in this sector,” the company said.
SIF Oltenia’s portfolio includes the stake in Banca Comerciala Romana (BCR), which is considered as liquid shareholding because the bank switched to profit and cleaned the portfolio of bad debts. The value of the stake in BCR – RON388 million – calculated in accordance with Financial Supervisory Authority (ASF) Regulation no. 9/2014, represents 71.54% of the market value of the stakes held in 8 closed-end companies, the company said.
The finances-banks-insurances sector, the best represented in the company’s portfolio, has a share of 35.32% of the total nominal value of the portfolio, respectively 46.40% of the market value.