ING currently has over 1,000 private banking clients who have around 400,000 euros’ worth of assets on average, says Maria Cristina Matei, deputy general manager in charge of the retail division.
This results in over 400 million euros in overall managed
assets. The Dutch at ING have been the first to bring private
banking services onto the Romanian market, dedicated to clients
with large fortunes.
Matei says over 90% of the clients come from Bucharest, which is in
fact the main market targeted by private bankers.
“Clients outside Bucharest are on the rise, partly because this has
been the focus of our activity in the past year.” ING has a team of
eight bankers directly involved in selling products to top
clients.
The private banking market is less than transparent, with banks
that have relevant market shares on this segment being reluctant to
disclose information on the matter. The minimum liquid asset
threshold that allows a client to be included in the top class also
differs from one bank to another.
The “genuine” private banking segment starts from 100,000 euros,
according to local standards, but it is even higher on Western
markets.
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