Established: 1995
Address: 4-8 Nicolae Titulescu Avenue,
1st floor, East Wing, district 1, America House Building, 011141 Bucharest, Romania
Contact Name: Ștefan Pompi Musgociu
Email: Stefan.Musgociu@bvb.ro
Website: www.bvb.ro
- Joined FEAS in 2003-
When placed in a broader context and assessed both through quantitative results and their underlying meaning, 2025 stands out as one of the strongest years in the history of the Bucharest Stock Exchange and, from many perspectives, a true landmark year.
One of the most important achievements was surpassing the symbolic threshold of RON 500bn (approx. EUR 100bn) in total market capitalization. This milestone reflects not only the growing value of Romanian listed companies, but also the consolidation of the capital market as a genuine pillar for financing and valuing the Romanian economy.
Equally important is the steady and healthy expansion of the investor base over the past six years. By the end of 2025, the Bucharest Stock Exchange counted over 274,000 direct retail investors, more than five times the level recorded in 2019. In addition, more than one million Romanians invest indirectly through mutual funds. This broadening of participation represents perhaps the most solid foundation for the long-term development and resilience of the market.
Market performance further confirms this structural progress. In 2025, the BET index increased by 45%, while BET-TR rose by 55%, marking the best annual performance for BET since 2009 and the strongest result for BET-TR since its launch. Unlike previous rebound-driven cycles, this growth reflects a mature market built on solid fundamentals rather than a technical recovery.
Liquidity reached record levels as well. The total value of transactions across all instruments and markets approached RON 44bn (EUR 8.6bn), while equity trading on the main market exceeded RON 16.7bn (EUR 3.3bn), making 2025 the second-best year in BVB’s history, surpassed only by 2023, which was shaped by the landmark Hidroelectrica IPO.
In terms of listings, 98 new listings of shares, corporate bonds, government securities, and municipal bonds were recorded in 2025, with a total value of nearly EUR 6.5 billion, the highest level ever achieved at the Bucharest Stock Exchange.
Strong investor interest was also evident in the Fidelis government bond program, through which Romanians invested over EUR 4.2bn in 2025 alone, further expanding the investor base and strengthening financial inclusion.