The turnover of Romanian brokerage house SSIF Broker (BRK.RO) increased 72% in the first quarter, to RON1.7 million, due to higher revenues from brokerage commissions.
Net revenues for deals brokered on the Bucharest Stock Exchange increased 59%, to over RON1.05 million, while net revenues form commissions on deals brokered on foreign markets increased by more than 86%, to around RON0.1 million.
SSIF Broker ended the first quarter with a profit of RON17,639 from a loss of RON23,375 in the firts quarter of 2013, the company said in a statement Monday.
At the end of the first quarter this year, SSIF Broker ranked fourth among brokers on the Bucharest Stock Exchange, with brokered deals worth RON357 million and a market share of 7.64%, compared to brokered deals of RON200 million and a market share of 4.86% in the same period last year.
The brokerage firm had a profit of RON355,000 from managing its own portfolio, 37% lower on the year.
SSIF Broker has over 12,000 shareholders, of which regional investment fund SIF Muntenia is the largest, with 13.25%. A 7.59% stake is controlled by lender Banca Transilvania (6.91%) and investment fund BT Maxim (0.68%), managed by BT Asset Management.
SSIF Broker traded at RON0.112 on the Bucharest Stock Exchange Monday.