Banca Transilvania has received the approval of 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 the Banca Transilvania Group still needed approval from the authorities, after the announcement in July this year of the acquisition of the other OTP Group subsidiaries in Romania.

OTP Asset Management România SAI SA remains a stand-alone company, part of the Banca Transilvania Group, focused on alternative investment fund management. It will have a new brand identity and repositioning on the market through a distinctive range of products and services.

BT Asset Management is one of the leaders in the investment management market, with 14 open-end funds under management, 217,000 customers and RON 5.1 billion in assets under management. OTP Asset Management Romania SAI SA is one of the top ten players in the sector and currently has more than 14,000 clients and 657 million lei in assets under management.