SIF Oltenia starts off with 2.4m-euro profit

SIF Oltenia posted the highest profit of the four financial investment companies (SIF) that announced their last month results. It made 89.5bn ROL (2.4 million euro) profit, while the profits of the other three SIFs, Banat-Crisana, Moldova and Transilvania were lower than 0.5 million euros. SIF Muntenia has yet to reveal its January financials. It was the transactions on the Bucharest Stock Exchange that made the difference between SIF Oltenia’s profit and that of the other SIFs. It sold BRD-Groupe Societe Generale shares worth 62bn ROL (1.7 million euros) last month, well as four million shares of Compa Sibiu, totalling over 60bn ROL (1.6 million euros). The BRD stake sold by SIF Oltenia accounts for approximately 0.08% in the bank. In Compa’s case, the stake accounts for more than 5%. SIF Oltenia kept selling BRD shares this month, when it parted with a 0.04% stake. ZF