Romania’s Banca Transilvania plans another takeover in Moldova

Romania’s Banca Transilvania plans another takeover in Moldova
By bne IntelliNews January 15, 2020

Banca Transilvania (BT), the biggest financial group in Romania, plans to take over Microinvest, the leader of the non-bank financial market in Moldova specialised in financing micro-enterprises, BT announced.

Banca Transilvania is already active on the banking market in Moldova, where it holds the majority stake in Victoria Bank (the country’s third-biggest bank) in partnership with the European Bank for Reconstruction and Development (EBRD).

The Romanian group aims to get 100% control over the micro-financing company. Microinvest’s shareholders are Balkan Financial Sector Equity Fund Netherlands (54.9%), followed by the Soros-Moldova Foundation (24.4%), Oikocredit from the Netherlands (12.8%), Driehaus Richard from the USA (4.8%), and SIDI France (3.1%).

Currently BT is in the process of requesting approvals for the acquisition from the regulatory authorities in Romania as well as other relevant bodies.

“The step we are making through this new acquisition shows BT’s commitment to support as many entrepreneurs as possible by developing the microfinancing activity of the Banca Transilvania Financial Group. This is an opportunity that we want to capitalise on to the benefit of our clients who are in the early stages of their business endeavours,” stated Omer Tetik, CEO of Banca Transilvania. 

"We will do so by combining the business model we employ in Romania through BT Mic with the one used by Microinvest, as well as through increasing synergies with other companies of Banca Transilvania Financial Group from the Republic of Moldova, namely BT Leasing and Victoriabank."

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