Banca Transilvania has received approval from the Financial Supervisory Authority for the acquisition of OTP Asset Management from OTP Group.

OTP Asset Management România SAI SA is the company for which Banca Transilvania Group still needed regulatory approval, following the announcement in July this year of the acquisition of OTP Group’s other subsidiaries in Romania.

OTP Asset Management România SAI SA will remain a standalone company within Banca Transilvania Group, focused on managing alternative investment funds. It will adopt a new brand identity and be repositioned on the market through a distinct range of products and services.

BT Asset Management is one of the leaders of the investment management market, with 14 open-end funds under management,  217,000 clients and 5.1 billion lei in assets under management. OTP Asset Management România SAI SA is among the top ten players in the industry and currently has over 14,000 clients and 657 million lei in assets under management.