Local lender leaves brokerage activity on Bucharest exchange
Local lender Credit Europe Bank Romania, part of Turkish group Credit Europe, withdrew from the Bucharest Stock Exchange - BVB’s trading system.
The BVB’s Board of Directors approved on Tuesday the bank’s request to leave the bourse. In the first half of the year, the bank brokered transactions totaling only EUR 575,000. It ranked 39th among brokers.
The bourse now has 38 active brokers, but the biggest 10 make some 85% of the transactions, according to data available for the first half of 2015.
The number of active intermediaries on the Bucharest Stock Exchange halved during the financial crisis due to the low liquidity. The transactions recovered a bit in 2013 and 2014, only to go down again this year, as no more listings took place.
editor@romania-insider.com
