Romanian lender Banca Transilvania (BT) manages EUR 311 million in wealth on the private banking segment, having increased by 20 percent the volume of managed assets for wealthy clients in 2010. Its clients need to have cash of at least EUR 100,000 placed with the bank for at least three months in the row, to qualify for the private banking services.

BT plans to grow the number of private banking clients by 20 percent, according to Robert Rekkers, the bank's general manager. The bank currently has 1,200 private banking clients, who are served through three dedicated outlets- two in Bucharest and one in Cluj – Napoca. BT started offering private banking services in 2008.

Other banks in Romania offer private banking services. Millennium Bank has recently announced its entry on the segment. ING Bank has over 1,000 private banking clients in its portfolio, each with average assets of over EUR 400,000. The bank offers this service in Romania since 2000. UniCredit currently has 800 private banking clients, who exceed the threshold of EUR 200,000, according to an article by Ziarul Financiar. RBS reported 1,500 private banking clients.

editor@romania-insider.com