The group said in a statement its companies BT Asset Management S.A.I. (BTAM) and BT Investments have purchased of Certinvest Pensii, the only Romanian-owned pension fund administrator on the local market, which manages over RON75 million in a voluntary pension fund (Pillar III) that has over 9,500 participants .
“Through this acquisition, BT’s interest is focused on stimulating long-term saving through the Pensions Pillar III, an optional instrument, with a fast growing interest among active people. We want the future BT pension company to become a relevant a player in this market segment, based on the model of the companies we already have in Banca Transilvania Financial Group,” said Ömer Tetik, CEO of Banca Transilvania.
The acquisition is pending the approval of the Romanian financial supervision authority.
BT Asset Management S.A.I. is a company part of Banca Transilvania Financial Group, specialized in investment management through open and closed funds. BTAM currently has assets of over RON3.9 billion, manages 14 open investment funds and has over 40,000 clients.
The transaction was assisted by BT Capital Partners, the investment banking and capital markets division of Banca Transilvania Financial Group, an exclusive member of the Oaklins international alliance in Romania.
Banca Transilvania became the largest lender in Romania in 2018 after acquiring Bancpost, reaching assets of RON74.3 billion and a market share of approximately 16.5%.