MKB Romexterra is preparing to enter the niche market of private banking this autumn. Until recent years, this niche was exclusively controlled by big names on the market. However, this year a wave of medium-sized players began to show an interest in offering these niche services to clients with significant liquid assets. Like the majority of players on this niche market, MKB Romexterra will target clients with liquid assets worth over 100,000 euros. Hungarian-based MKB, a subsidiary of the German group Bayern LB, entered the Romanian market last year through the acquisition of the controlling stake of Romexterra Bank, via a tender offer. With assets worth 474 million euros halfway through this year, the bank registered a 0.8% market share and thus qualifies as a medium player. "Our current portfolio includes 100 clients, which accounts for a total of 15 million euros. However, the majority is largely inherited from the bank's portfolio," stated Alin Carligeanu, manager of the private banking department of MKB Romexterra. Nonetheless, he aims to increase the portfolio by at least 50% by the end of next year, when he should manage at least 22 million euros.
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