A large share of the Stock Exchange’s profit was made in the third quarter, with BVB’s earnings in this period a gross RON 3.5 mln, considering that the company’s profit was worth some RON 4 mln in the first six months. BVB budgeted a profit of RON 7.9 mln for 2009, 35 percent lower year-on-year.
“The profit is due to savings on expenditures throughout this year. Overall, in the first nine months we managed to save slightly over RON 2 million, most of which were made in the staff-related expenses sector. Results will improve in the final quarter of this year,” Stere Farmache, President of the Bucharest Stock Exchange, said.
Transactions on the Stock Exchange currently register an average daily value of some €5 million, compared to €10 mln in 2008.
“We are not yet working on the 2010 budget, due to economic uncertainties. Moreover, the new Board of Directors will be elected early next year, and it is only fair that the new Board drafts the next budget,” Farmache added.







