SIFs (Financial Investment Companies) reported cumulated profitsof around 390 million RON (91 million euros) at the end of 2010,down 36% on the record results reported in 2009, having no longercollected dividends from BCR and smaller dividends from BRD.
In addition, unlike in 2009, when four of the SIFs collected 12.7million euros each from the Greek at EFG Eurobank for stakes inBancpost, and SIF Oltenia (SIF5) also sold the stake in AutomobileCraiova for 18 million euros, last year financial investmentcompanies no longer sealed major transactions, worth above 10million euros. Under the circumstances, some of them resorted toselling BRD shares in order to meet their budgeted profits.
For instance, SIF Muntenia (SIF4) sold BRD stakes worth over 80million RON at the end of last year and reported a 76 million-RONnet profit. The stakes sold account for nearly 1% of the bank'scapital. SIF Transilvania (SIF3) also sold BRD shares worth around16 million RON in December.
In turn, SIF Moldova (SIF2) collected around 2.8 million RON inDecember from selling BRD shares, and reported a 97.2 million-RONnet profit at the end of 2010, very close to the 2009 profit.
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