WOOD Flash – Romania politics: vote of no confidence passed, what’s next?
The vote of no confidence has passed (238 votes (233 needed)), and the president will hold talks with the political parties tomorrow (11 October), which should bring some light on the direction Romania is heading in. Although the endgame is still not clear, we believe that a change in government is positive for sentiment and should not change the broadly supportive macro over the next year. We reiterate our constructive view on the banking sector (top pick: Banca Transilvania) in view of its decent lending growth, stable margins and below mid-cycle cost of risk. From the non-banks, our top pick is MedLife.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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