BVB - Weaker Q2 q-o-q but overall decent results in H1
- BVB reported net profit was at RON 2.96 mln in the second quarter and RON 6.99 mln for H1. Q-o-q this implies a fall of 29.2%, due to lower operating revenues coupled with some increase on the cost side attributed to personal expense growth.
- Trading margin was lower at 14 bps compared to 22 bps in the previous quarter and 18 bps in Q2 last year. We should note that in both comparable periods there were larger IPOs while this quarter BVB only had a bond issuance.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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