CCB With Highest Turnover Among Banks On The Stock Exchange, Bulstard First Among Insurers

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CCB With Highest Turnover Among Banks On The Stock Exchange, Bulstard First Among Insurers

As Profit.bg already informed and according to BSE's monthly bulletin, the October turnover of the companies in two sectors are exceeding the turnover of those in the other nine sectors by several times. The highest turnover – 110.909 mln leva (56.706 mln euros) was generated by companies from the “Financial Intermediation” sector.

This category includes not only banks and insurers, but also the holding companies, Sofia Commerce Pawn Brokerage etc. This article, however, will take a closer look at the public creditors and insurers, which are responsible for the 73.5% of the total turnover in the sector (81.266 mln leva, 41.550 mln euros), according to Profit.bg data.

The highest turnover among banks listed on BSE was generated by Central Cooperative Bank. A total of 5.880 mln shares changed hands in 680 transactions worth 30.314 mln leva (15.500 mln euros). This ranks the bank third in terms of liquidity.

2.677 mln shares changed hands in a block transaction on October 12, which increased Post Bank's stake in CCB to 6.55%. The deal was worth 12.182 mln leva (6.228 mln euros). The bank reported Jan – Sept profit in the amount of 18.525 mln leva (9.471 mln euros), versus 8.53 mln leva (4.361 mln euros) last year. Shares added 9.3% last month, to an average of 12.46 leva.

Corporate Commercial Bank ranks second in the chart. 173,000 shares changed hands in transactions worth a total of 16.085 mln leva (8.224 mln euros). On September 30 the bank reported profit in the amount of 18.737 mln leva (9.580 mln euros), or 4.2 times above the the Jan – Sept 2006 profit (4.436 mln leva, 2.268 mln euros).

According to CCB, profit is exceeding prognosis by 3.497 mln leva. There were 106 transactions with the shares last month, which ranks the bank second in terms of liquidity. In October the stock price retreated from 104.4 leva to 102.38 leva.

First Investment Bank is third with turnover in the amount of 15.2 mln leva (7.771 mln euros) after 1.291 mln shares changed hands in October. The bank leads the liquidity chart with 2,178 transactions. Jan – Sept profit surged 275% to 34.35 mln leva (17.562 mln euros), versus 9.17 mln leva (4.688 mln euros) a year ago. Last month the stock dropped from 13.19 leva to 12.40 leva.

The following chart presents details about other banks listed in terms of turnover, and regardless of difference in stock price. 

BanksTransactionsTurnover in BGNVolume (shares)
Central Cooperative Bank638303136335879972
Corporate Commercial Bank110616084995172773
First Investment Bank2178151999311290602
Bulgarian-American Credit Bank426740462991283
EIBank185483818648271
Total4533738413747482901

Of the three public insurers, the highest turnover came from transactions with the shares of Bulstrad (3.146 mln leva, 1.608 mln euros). Bulstrad is second in terms of liquidity with 352 transactions in which 10,250 shares changed hands. The company boasts a 16.67% market share and premium income in the amount of 110.953 mln leva (56.730 mln euros), which makes one of the leaders on the market of general insurance in the country, states data released by the Financial Supervision Commission.

On September 30, Bulstrad's profit stood at 582 thousand leva (297 thousand euros), which is by 323 thousand less than a year ago. Last month the stock price retreated from 352.91 leva to 350.88 leva.

The indisputable leader in terms of number and volume of transactions is Euroins with 723 transactions and 193,895 shares changing hands. The insurer's Jan – Sept profit grew from 492 thousand leva (251 thousand euros) to 2.348 mln leva (1.200 mln euros) y/y. Last month the average stock price dropped from 20.03 leva to 19.08 leva.

More details on public insurers can be found in the chart below.

InsurerTransactionsTurnover in BGNVolume (shares)
Bulstrad352314617810250
Euroins7233052108193895
ZPAD DZI2412265246544
Total10997424810210689

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