Banks account for less than 10% of mandatory pensions

The 7 banks which have had a direct involvement in the management of mandatory private pensions (pillar II) together have a less than 10% market share, after the first 3 months of selling such products. The banks’ position on the mandatory pension market has improved significantly throughout the pension fund joining campaign, but the results of the management companies set up by banks are much lower than the goals initially announced. Three months since the start of the campaign to join a private pension fund, BT Aegon is the highest-ranking management company set up by a bank, 7th among the 18 managers, with a 3% market share. BCR ranks 8th, with 2.9%, and BRD is 9th, with 2.4% of the number of clients. The rest of the banks have market shares of less than 1% each. Overall, the seven management companies set up by banks attracted just slightly over 280,000 clients in the first 3 months of campaign, i.e. 9.6% of the total 2.93 million participants signed to all 18 pension funds.