* The request of the BSE raises doubts over the plans of the Central Depository to become a bank
The Bucharest Stock Exchange (BVB), the majority shareholder of the Central Depository, has proposed the payout of 6.3 million lei in dividends out of the profit for 2007 of the institution, according to sources who did not wish for their names to be disclosed. At the same time, the BSE has also requested the increase of the share capital of the Central Depository by about 3.5 million lei, of which 1.4 million out of the profit made in 2007 and 2.1 million out of the profit for 2006.
The shareholders of the Central Depository were called to decide on this matter in the General Shareholder Meeting scheduled at the end of the month. If its proposal were adopted, the Bucharest Stock Exchange, which has a stake of 66% in the Central Depository, would earn 4.15 million lei.
The request of the BSE caused opposition in the market, causing some voices to express worry that this move might jeopardize the plans of the Depository to grow, by decapitalizing it.
"The profit of the year 2007 was not allocated because the Depository came to the conclusion that it needed money to implement its plans of becoming a central counterparty or to gain bank status", the sources in question said, who added: "There even was talk about using that money to perform a share capital increase, but at the time, there were some troubles with some shares owned by Gelsor, which is why the plan was abandoned".
Last year, Adriana Tănăsoiu, the general manager of the Depository said that she wanted the company to be able to provide its customers with services specific to cash accounts, following the model of Euroclear and of the depositories of Austria and Switzerland. At the time, Mrs. Tănăsoiu said that the Depository would need additional funds for these plans, but did
