BCR could take over the privately-managed pension funds of OTP and Prima Pensie

BCR Fond de Pensii could absorb the smallest private mandatory pension funds on Pillar II administered by OTP and Prima Pensie, as the talks have been on for several months, declared several players for NewsIn.

Officials of Banca Comerciala Romana (BCR), the largest lender by assets in Romania, announced at the end of September 2008 that the group reached an agreement with shareholders of Omniasig Pensii with respect to the take over.

The market watchdog authorized the merger between Omniforte, the fund administered by Omniasig and BCR Fond de Pensii at the beginning of March.

BCR Fond de Pensii is the seventh player on Pillar II. All the 14 funds recorded net assets of 1.2 billion lei at the end of March.

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