The top customers, reserved in taking risks

Although the investments in the real estate domain still remain a serious competitor for the private banking services, thanks to the very attractive returns, the Romanian market has though at  present a potential of at least 50.000 VIP customers.  

Even if many of the top customers come from real estate investors, by only alienating of a studio flat doesn’t transform the seller into a beneficiary of these services.
Prerequisite, but not enough for accessing this management packet of wealth, is the owning of a minim amount of 40.000 euro.
The true test of private banking is represented by the capacity of maintaining a portfolio of financial assets or of supplying periodically the accounts with amounts of at least four figures in euro.  

The offers are multiplying

The private banking system appeared in the Romanian banking scenery since the half of  2003, at one of the entities that now forms Unicredit Tiriac Bank. After exactly four years, the bank counted 1.000 customers, the administered assets exceeding 150 billion euro.
In chronological order, BCR came into force on this market in July 2004, with about 500 customers, the number being doubled year after year.
In 2004, BRD also started to provide private banking services, the chosen strategy not being based on the administration of an impressive number of customers, but on owning a portfolio of some quality clients, the clients number being estimated to increase with 30-40% on medium term.  
The value of a portfolio managed by the private banking agency of the bank is on the average of 650.000 euro.
In 2006, it came the turn of the Austrians from Raiffeisen, that in only a year have collected over 1.000 customers, with administered current assets that exceed 400 billion euro.
The last entered on this market are OTP Bank, that launched this banking offer in the second half of December 2007, and Millenium Bank.
In 2008, Volksbank will launch too, private banking services, during March most probably.