The Banca Transilvania Group expands in the Republic of Moldova and takes over the largest non-bank credit company
Banca Transilvania, photo: Banca Transilvania
Victoriabank, part of the Banca Transilvania Financial Group, took the first step for a new acquisition in the Republic of Moldova today, in the field of microfinance. The representatives of Victoriabank and AI Microinvest, the leader of the microfinance market in the Republic of Moldova, signed in Chisinau by which Victoriabank will buy Microinvest.
The new acquisition will contribute to the increase of Victoriabank, the third bank in the Republic of Moldova, by diversifying the offer, the large number of new customers and the microfinance expertise, BT shows in a statement sent on Friday.
Microinvest is the largest non-bank credit company in the Republic of Moldova, with a solid market share, 40,000 customers, both legal and natural persons, 350 employees and 17 branches. It funds SMEs, agribusines, as well as personal customers' plans.
“Microfinance is a special niche of the Banca Transilvania financial group, developed by BT Mic, BT Direct and Banca Transilvania. We want to reply in the Republic of Moldova we have in Romania both regarding the support of customers by microfinance and in the field of acquisitions” – says Bogdan Pleșuvescu, Deputy General Manager.
“The acquisition of Microinvest reflects the Victoriabank direction, including through purchases. Microinvest is the company we have always looked at because it has redefined microfinance in the Republic of Moldova through innovative products and very good relationship with customers.
“We are honored by the confidence granted and we see this change as an opportunity to accelerate our impact in the economy of the Republic of Moldova. Microinvest remains faithful to his mission – to provide accessible, personalized and responsible financing anywhere in Moldova. The support of a strategic shareholder such as Victoriabank, part of the Financial Group Banca Transilvania financial and to reach closer to customers from all regions of the country ” – mentions Dmitrii Svinarenco, CEO Microinvest.
The transaction will be completed after obtaining approvals from the regulatory and supervision authorities in Romania and from the Republic of Moldova, a stage until which Microinvest will have independent activity.
The Banca Transilvania Group has collaborated for the evaluation and preparation of the transaction with law firm and legal and fiscal consultants in Romania and the Republic of Moldova, Filip & Company, Vernon | David and associations, respectively PWC.
Victoriabank recently ended the merger with BCR Chisinau, marking the success of the first acquisition of the Banca Transilvania group in the Republic of Moldova.
