December 4 (SeeNews) - Hungarian-owned bank OTP Romania said on Tuesday that it has signed an agreement with Eurobank Fund Management Luxembourg for the distribution of investment funds in Romania.
Starting December 1, OTP Bank Romania became the distributor and paying agent in Romania for mutual investment funds managed by Eurobank Fund Management, the lender said in a press release.
"The partnership with Eurobank Fund Management Company is an opportunity to grow OTP Bank Romania's portfolio, both in terms of investment products and number of investors. Currently, the bank distributes over 50 open-end investment funds managed by renowned asset management companies, and through this partnership we will be able to offer our clients a comprehensive range of investment alternatives," OTP Bank Romania director for private banking and financial advice division, Corina Stoica, said.
The funds distributed by OTP Bank Romania are handled by investment management companies in Romania, such as OTP Asset Management SAI, and in Luxembourg, such as NN Investment Partners or Franklin Templeton Investments.
OTP Bank Romania posted a net profit of 68.7 million lei ($17 million/15 million euro) in the first nine months of 2018, double on the year.
(1 euro = 4.6519 lei)
OTP Bank Romania SA is among the biggest banks in SEE, for more reference take a look at Top 100 banks