The private banking service of the Austrian group Erste, which owns local lender BCR, has attracted EUR 30 million from clients in Romania in the last two weeks. The total assets managed by Erste Private Banking in Romania have thus exceeded EUR 1 billion.

Investment products exceed 70% of Erste Private Banking's total assets.

Erste Private Banking offers the possibility to trade listed financial instruments, such as shares, ETFs, bonds and structured notes, as well as OTC instruments, such as government and corporate bonds, structured notes and deposits. It has a total portfolio of 15,000 customers with a total turnover of EUR 17 billion.

Erste Group is the largest wealth manager in Austria and one of the most important in Central and Eastern Europe, with private banking services in the Czech Republic, Croatia, Hungary, Romania and Slovakia. The recent growth in Erste’s Private Banking business in Romania came shortly after ING announced that it would give up this service on the local market.

editor@romania-insider.com