SIFs (Financial Investment Companies) reported cumulated profits of around 390 million RON (91 million euros) at the end of 2010, down 36% on the record results reported in 2009, having no longer collected dividends from BCR and smaller dividends from BRD.
In addition, unlike in 2009, when four of the SIFs collected 12.7 million euros each from the Greek at EFG Eurobank for stakes in Bancpost, and SIF Oltenia (SIF5) also sold the stake in Automobile Craiova for 18 million euros, last year financial investment companies no longer sealed major transactions, worth above 10 million euros. Under the circumstances, some of them resorted to selling BRD shares in order to meet their budgeted profits.
For instance, SIF Muntenia (SIF4) sold BRD stakes worth over 80 million RON at the end of last year and reported a 76 million-RON net profit. The stakes sold account for nearly 1% of the bank's capital. SIF Transilvania (SIF3) also sold BRD shares worth around 16 million RON in December.
In turn, SIF Moldova (SIF2) collected around 2.8 million RON in December from selling BRD shares, and reported a 97.2 million-RON net profit at the end of 2010, very close to the 2009 profit.
SIFs (Financial Investment Companies) reported cumulated profits of around 390 million RON (91 million euros) at the end of 2010, down 36% on the record results reported in 2009, having no longer collected dividends from BCR and smaller dividends from BRD.
In addition, unlike in 2009, when four of the SIFs collected 12.7 million euros each from the Greek at EFG Eurobank for stakes in Bancpost, and SIF Oltenia (SIF5) also sold the stake in Automobile Craiova for 18 million euros, last year financial investment companies no longer sealed major transactions, worth above 10 million euros. Under the circumstances, some of them resorted to selling BRD shares in order to meet th