Julius Baer's investment in a Romanian textile business was unknown. Until a few days ago, when local newspapers reported about its stake in t-shirt-manufacturer Braiconf Braila. According to these reports, Baer held more than 25 percent in the company and has now sold it.

The sale was published by the stock exchange in Bucharest and the Swiss bank received 1.36 million euros for its stake, according to the reports. The buyer of the stake wasn't named in the report.

Why the bank held a stake in a Romanian t-shirt-manufacturer remains unclear, but it may have done so in the name of a client. Braiconf is a major textile company in the south-eastern European nation, with 15 branches and an online shop to its name. It generated sales of 7.3 million euros last year.