Romania’s BT Asset Management S.A.I. (BTAM) and BT Investments have received approval from the country’s Financial Supervisory Authority to acquire 100 per cent of Certinvest Pensii.
Certinvest Pensii is the only local player among pension fund administrators in Romania. Banca Transilvania Financial Group announced its intention to expand its financial services through an investment in the area of private pensions in October 2019.
Commenting, BT Asset Management CEO, Aurel Bernat, said: “We are starting with almost 10,000 clients and over RON 75m (€15.7m) to manage. A period of integration of Certinvest into BT Financial Group and of preparation for clients will follow.”
He said the group will establish a long-term plan regarding private pensions, and he also thanked the authorities for their support in the acquisition.
Banca Transilvania Financial Group said the new BT pension company will become a “relevant player” in the market, based on the BT Group companies model. It added that it hopes to encourage long-term savings in the third pillar of pensions, which it believes has increasing interest to savers.
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