Transilvania Bank becomes the first majority Romanian administrator of a Pillar II pension fund by acquiring BRD Pensii

The Financial Supervisory Authority (ASF) has approved the transaction through which Banca Transilvania (BT) takes over the company BRD Pensii, making Banca Transilvania the first majority Romanian administrator of a mandatory private pension fund (Pillar II). This development is considered a significant step in consolidating the private pension fund market in Romania, given that the sector includes over 10 million participants.

Banca Transilvania, the largest credit institution in Romania, holds 20.9% of the banking system and recently completed the acquisition of OTP Bank Romania, followed by a merger. The president of ASF, Alexandru Petrescu, emphasized the importance of adhering to the principles of prudence and transparency in these processes, while the vice president of ASF, Dan Armeanu, highlighted that this transaction marks a benchmark stage for the private pension system, demonstrating the increased interest in the local market.