The Banca Transilvania Financial Group is expanding its financial services for its more than 3 million customers through an investment in the privately managed pensions sector: BT Asset Management S.A.I. (BTAM) and BT Investments are acquiring 100% of Certinvest Pensii.

Certinvest Pensii, the only local player among Romania’s pension fund managers, manages over RON 75 million in a voluntary pension fund that has more than 9,500 participants.

"With this acquisition, BT is focused on promoting long-term saving through the Pillar III pension system, an optional choice that is seeing growing demand among working people. We want the future BT pension company to become a highly relevant player in this market segment as well, following the model of the companies we already have in the Banca Transilvania Financial Group," said Ömer Tetik, Chief Executive Officer, Banca Transilvania.

"In 2015 we took over the management company of the voluntary pension fund Pensia Mea, confident that we could offer our clients an effective long-term savings solution, which we developed with a team of professionals under the Certinvest brand, increasing assets under management by over 90%. I am convinced that choosing Romania’s largest financial group, the Banca Transilvania Financial Group, to continue and further develop the efforts made so far is in the best interest of the market and all parties involved, especially the participants", said Eugen Voicu, Founding Shareholder, Certinvest Group.

Following the signing of today’s binding agreement, the next step is to obtain approval for the acquisition from the Financial Supervisory Authority.

BT Asset Management S.A.I. is the Banca Transilvania Financial Group’s investment management company, specialising in managing open- and closed-end funds. BTAM currently has over RON 3.9 billion in assets, 14 open-end investment funds under management and more than 40,000 clients. The transaction was advised by BT Capital Partners, the Banca Transilvania Financial Group’s investment banking and capital markets division, the exclusive member in Romania of the international Oaklins alliance.