* The debts of the BSE, up 22% over the end of 2012
* The BSE: "The increase was caused by tax debts to the state budget and the social security budget, as well as the commercial debts pertaining to the ongoing projects"
The Bucharest Stock Exchange (BSE) posted a net profit of 1.53 million lei in the first quarter of this year, down 45% over Q1 2012.
The operating profit for Q1 2013 reached 0.66 million lei, down 66% compared to the similar period of 2012, amid a drop in the trading commissions.
The financial profit for the January-March 2013 period was 1.13 million lei, over seven times greater compared to Q4 2012, when the evolution of the exchange rate for the leu had led to foreign exchange losses, whereas interest revenues had remained steady.
The BSE ended the first quarter of 2013 with a turnover of 4.06 million lei, down 19% YOY, as the January-March 2012 was the best period of the last five years for the regulated market, as it saw the secondary public offer of 15% of the capital of Transelectrica.
After the first three months of 2013, operating expenses increased over 10% YOY, mostly on the back of staff expenses.
According to the quoted press release, on March 31st, 2013, the total assets of the BSE amounted to 1 billion lei, up 2% over the end of 2012.
The increase in trading activity in March led to a 54% increase in commercial receivables and of 26% of other receivables, at the end of the first quarter, compared to the beginning of the year, the press release states.
The debts of the BSE at the end of Q1 2013 amounted to 2.95 million lei, up 22% over December 31st, 2012, according to the document. According to the press release: "The increase was caused by the fiscal debts to the state budget and the social security budget, as well as the trade debts pertaining to the ongoing projects".
