Romanian investment company SIF Banat-Crisana (SIF1) tripled revenues in the first quarter, to RON 90.6 million (EUR 20.1 million), after the company sold a nearly 0.8 percent stake in BRD, and also a smaller package in Erste Bank, reports local Wall-street.ro.

At the end of the first quarter, SIF Banat-Crisana had a 3.41 percent stake in BRD and almost 0.8 percent of Erste shares, compared to 4.2 percent and 0.85 percent respectively, at the end of last year.

The company’s expenses more than doubled in the first quarter, to RON 26.8 million (EUR 6 million), and the net profit went up to RON 54.1 million (EUR 12.2 million).

SIF Banat-Crisana ended the first three months with net assets of RON 1.56 billion (EUR 346 million), under the level of last year.

Irina Popescu, irina.popescu@romania-insider.com