Bank Brokers Brokered Over 40 Percent of B.S.E. Transactions

Stock exchange transactions brokered by brokerage companies controlled by banks amounted to 961.9 billion ROL throughout January. This sum is equal to 41.6 percent of the overall value of transactions performed on The Bucharest Stock Exchange last month. "Raiffeissen Capital & Investment," "B.R.D. Securities", "I.N.G. Securities" and "B.T. Securities" ranked the highest among such firms, in terms of the overall value of transactions they brokered. Among their largest customers were foreign investment funds, which preferred to buy shares in financial companies throughout January. This seems to corroborate with the rumors that January's generalized increase in quotations was triggered by the appearance of foreign players.

Brokerage analysts say foreign investors went especially for shares in The Romanian Bank for Development" - B.R.D. and "Banca Transilvania," because - they say - banks are the first businesses to react to economic growth. Shares in S.I.F.s also sold very well last month, given the enticing dividend policy these firms have applied for the past few years.

On the other hand, an increase in the value of the shares held by S.I.F.s generated an increase in the value of S.I.F. assets throughout January, analysts say.

The hign interest investors manifested last month in shares listed on The Bucharest Stock Exchange also translates in an unusually high value of transfers: 2,303.4 billion ROL or 56.05 million EUR.

Most transfers were broked by "Broker" - Cluj (257.5 billion ROL) and "Raiffeisen Capital & Investments" (254.5 billon ROL). The transfers broked by these two firms totaled over 11 percent of the overall value of such deals made in B.V.B. in January. Several other firms also posted high transaction totals: "B.R.D. Securities" - 181.5 billion ROL, "NG Securities" - 167.4 billion ROL and "B.T. Securities - 100.8 billion ROL).