BT shares lost some 60% in yesterday’s trading session

The sharp fall suffered by the bank’s shares was in line with expectations of analysts, because the Bucharest Stock Exchange (BVB) has been subject to significant corrections. In the period that Banca Transilvania was absent from the Stock Exchange, the BET index lost 40 percent.

“I think that, in the coming days, TLV will remain close to the value registered in the first session, but it is difficult to say what will happen in the long-run, because there are many investors who want to dump bank shares. I think analysts will revise their bank activity estimates downwards,” said Adriana Marin, Head of the Analysis Department of UniCredit CA IB Securities.

However, EFG Eurobank Securities analysts indicate a target price of RON 1.777 per unit for Banca Transilvania’s shares in the long-run, up 55 percent from yesterday’s level. Reintroducing TLV shares into the trading circuit significantly influenced BVB’s indexes and liquidity.