Banca Transilvania to become largest asset manager in Romania after OTP takeover

Romania’s largest financial group, Banca Transilvania, through its subsidiary BT Asset Management, will manage the largest portfolio on the local asset management market after the BT Group takes over OTP Bank and its subsidiaries.

At the end of February 2024, BT Asset Management was the fourth-largest player with assets worth RON 4.2 billion (EUR 840 million) under management and a market share of 19.6% (down from 21.1% one year earlier), Ziarul Financiar reported.

OTP Asset Management has a portfolio of only RON 567 million (2.7% of the market), but this is enough to push BT AM to a market share of over 22% – above the Erste AM (20.7% market share at the end of February 2024, down from 22% one year earlier).

The total assets under the management of the ten largest asset management companies in Romania increased by 21% y/y to RON 21.3 billion at the end of February 2024. The best performance was posted by Raiffeisen AM, which improved its market share to 20.5% from 18.2% one year earlier – and advanced to second place from fourth.

The growth of the overall portfolio of the ten managers was visibly driven by the performance of the shares traded at the Bucharest Stock Exchange, where the BET-TR index (which includes the effect of the dividends) soared by 37.7% y/y.

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