2023 was a year of unprecedented good results for the Romanian capital market. The Bucharest Stock Market reported all-time highs in terms of shares and bonds sold, but also regarding market indices and the market value of companies. The public listing of Hidroelectrica with total shares of nearly 2 bln EUR accounted for the largest such listing at EU level. On December 8, 2023, the Bucharest Exchange Trading Index (BET) exceeded the score of 15,000 for the first time in history, the Exchange closing the year with a 32% increase compared to 2022. The total value of transactions exceeded 7.6 bln EUR, a 58% increase compared to the previous year. Some 2 million transactions were reported in 2023, a record since 2007. The president of the Bucharest Stock Exchange, Radu Hanga, described 2023 as the best year in history for the Romanian capital market. The good results also confirm the fact that development projects implemented in recent years are making good progress, and that the Romanian stock market is successful as a funding platform for the economy.
We have good cooperation with state authorities – the Government, Parliament, the Financial Surveillance Authority, the National Bank of Romania, which is key to the development of the capital market in Romania and of local economy, Radu Hanga added. In turn, Bucharest Stock Exchange executive director Adrian Tănase said 2023 exceeded liquidity records set the previous year by a large margin, considering the number of investors hit a historical high and stock indices brought substantial profits. These increases also reflect investors interest and confidence in the market, Adrian Tănase argues. This helps not only consolidate Romanias position in the region, but also strengthens the Stock Exchanges reputation and appeal to new investors, contributing to the constant development of the Romanian capital market, Adrian Tănase explained.
By issuing a total of 11 corporative bonds, issuers attracted 1.6 bln EUR, evidence of the high demand for funding. The Finance Ministry in turn has been very active on the capital market, raising 1.9 bln EUR by issuing Fidelis state bonds. Whereas in 2022 contributors to the private pension systems incurred losses, in 2023 they reported good profits amidst a positive evolution of the stock market and the reference interest rates, standing at some 3.8 bln EUR for contributors to the second and third pillar of the private pension fund last year, the equivalent of total profits reported since 2008. In addition, the number of investors exceeded 168,000 last autumn, a record high and a substantial increase compared to 2022. In the last four years, the numbers of investors on the stock market has tripled. (VP)
