CHISINAU (Moldova), April 11 (SeeNews) – Moldova’s Victoriabank, part of Romania’s Banca Transilvania Financial Group, has signed an agreement to acquire Moldova’s non-banking financial institution OCN Microinvest, Banca Transilvania [BSE:TLV] said on Friday.
“The new acquisition will contribute to the growth of Victoriabank, the third largest bank in the Republic of Moldova, diversifying its offer, adding many new clients and fostering its expertise in microfinance,” Banca Transilvania said in a statement filed with the Bucharest Stock Exchange.
The transaction, whose value was not disclosed, will be finalised following approvals from the regulatory and supervisory authorities in Romania and Moldova.
“Microfinance is a special niche of the Banca Transilvania Financial Group, developed by BT Mic, BT Direct and Banca Transilvania. We wish to replicate our success in Romania in the Republic of Moldova, both in terms of customer support through microfinance and in the field of acquisitions,” Banca Transilvania deputy CEO Bogdan Plesuvescu said.
Microinvest is the largest non-banking lender in Moldova, as per the statement, with 40,000 clients, 350 employees, and 17 branches. It provides financing to small and medium-sized enterprises (SMEs), agribusinesses, as well as clients’ personal plans.
Banca Transilvania first announced an intention to acquire Microinvest in 2020, before calling off the deal in 2021, as reported by Moldovan news outlet Agora.md back then.
Last month, Victoriabank finalised a merger with BCR Chisinau, which it acquired in 2024.
Banca Transilvania shares traded 0.36% lower at 27.6 lei as at 1655 CET on Friday on the Bucharest bourse.
(1 euro = 4.9774 Romanian lei)