“BCR Pensii losses in the previous years were the result of the three acquisitions carried out since it was established, which dragged down the financial results,” Anghel stated.
In 2009, BCR Pensii bought the funds managed by Omniasig Fond de Pensii (Omniforte), OTP Fond de Pensii (OTP) and Prima Pensie Fond de Pensii (Prima Pensie), for approximately EUR23.2 million.
In the second half of 2009, BCR Pensii also entered the voluntary private pension segment (Pillar III), by taking over BCR Prudent fund, (renamed BCR Plus) from BCR Asigurari de Viata for EUR2.6 million.
Between 2007 and 2010, BCR Pensii reported overall losses of RON71.34 million.
BCR Pensii reported net assets worth RON1.3 billion (EUR292 million) in 2014 on mandatory (Pillar II) and voluntary (Pillar III) private pension segments, up 41% on the year, and slightly above the market’s average increase of 37%.
BCR Pensii is 99.99% owned by Banca Comerciala Romana, member of Erste Group, and manages BCR Pensii and BCR Plus pension funds. It has a share capital of RON191 million.