BT and EBRD, strategic partnership to replicate the Romanian model

Banca Transilvania plans to invest in Victoriabank, the third-largest bank in the Republic of Moldova, acquiring an initial stake of over 39% of its share capital. This is the first time in the past ten years that a bank from outside the Republic of Moldova has expressed interest in entering that market.

The transaction will comply with all provisions of the Republic of Moldova’s capital market legislation, and BT will require the approval of the National Bank of Romania and the National Bank of Moldova for this investment.

Following Banca Transilvania’s entry into Victoriabank’s share capital, the two partners - BT and EBRD - will jointly hold a majority stake in Victoriabank. In accordance with applicable law, they will make an offer to acquire the remaining shares. As strategic partners, Banca Transilvania and the EBRD aim to contribute to the development of the banking sector in the Republic of Moldova. They will also support Victoriabank’s objective of remaining one of the most highly regarded banks in the Republic of Moldova.

“We are pleased to join the EBRD and the other shareholders in developing the local banking market and supporting the economy of the Republic of Moldova. We aim to replicate BT’s business model, the success we have in Romania. Victoriabank is a solid bank, well positioned in the Moldovan banking market. We see growth potential in the business lines where Banca Transilvania traditionally has deep expertise — SMEs, retail, microbusinesses — as well as in digital financial services. To deliver on our ambitious plan, we will also rely on continuing and expanding our strategic collaboration with our long-standing partners.” said Horia Ciorcila, Chairman of the Board of Directors of Banca Transilvania.

Victoriabank has been operating in the Republic of Moldova for almost 30 years, serving 540,000 customers with a team of 1,400 people and almost 100 branches. The bank enjoys high customer trust: as of June this year, Victoriabank had the highest ratio of deposits to total assets in the entire Moldovan market, at 80%, while its loan-to-deposit ratio was the lowest in the market, at 39%. Victoriabank also stands out in cards: over 17% market share by number of cards (almost 285,000), almost 25% market share by number of POS terminals, and over 37% for card turnover at merchants.

Banca Transilvania is Romania’s second-largest bank and the core of the BT Financial Group. Its activity is organized along three main business lines: Corporate, SME and Retail. The bank serves 2.2 million customers, has over 7,000 employees and more than 500 branches. The BT Group has had expertise in the Republic of Moldova since 2008 through subsidiary BT Leasing MD, the market leader in Moldova by the value of lease financing for fixed assets.

Multimedia Files

Download		Download