Victoriabank, part of the Banca Transilvania Financial Group, today took the first step toward a new acquisition in the Republic of Moldova, in microfinance. Representatives of Victoriabank and of Microinvest, the leader of the microfinance market in the Republic of Moldova, signed in Chișinău an agreement under which Victoriabank will acquire Microinvest.

The acquisition will support the growth of Victoriabank, the third-largest bank in the Republic of Moldova, by diversifying its offering, bringing in a large number of new customers and adding microfinance expertise.

Microinvest is the largest non-bank lending company in the Republic of Moldova, with a solid market share, 40,000 customers — both corporate and individual — 350 employees and 17 branches. It finances SMEs, agribusinesses, as well as customers' personal plans. 

Microfinance is a distinct niche for the Banca Transilvania Financial Group, developed by BT Mic, BT Direct and Banca Transilvania. We want to replicate in the Republic of Moldova the success we have in Romania, both in supporting customers through microfinance and in acquisitions.

Bogdan Pleșuvescu
Deputy CEO
Banca Transilvania.

The acquisition of Microinvest reflects Victoriabank’s direction of growth, including through acquisitions. We have always admired Microinvest for redefining microfinance in the Republic of Moldova through innovative products and an excellent customer relationship. We value its success, the team’s professionalism and its positive impact on the local economy.

Levon Khanikyan
President, Victoriabank

We are honored by the trust placed in us and see this change as an opportunity to accelerate our impact on the economy of the Republic of Moldova. Microinvest remains true to its mission — to offer accessible, tailored and responsible financing anywhere in Moldova. Support from a strategic shareholder such as Victoriabank, part of the Banca Transilvania Financial Group, strengthens our ability to innovate, expand our range of financial products and get closer to customers in all regions of the country.

Dmitrii Svinarenco
CEO, Microinvest.

The transaction will be completed after obtaining approvals from the regulatory and supervisory authorities in Romania and the Republic of Moldova; until then, Microinvest will continue to operate independently.

Banca Transilvania Group worked with law firms and legal and tax advisors in Romania and the Republic of Moldova — Filip & Company, Vernon | David şi Asociații and PWC — to assess and prepare the transaction.

Victoriabank recently completed the merger with BCR Chișinău, marking the success of Banca Transilvania Group’s first acquisition in the Republic of Moldova.

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Photo: Dmitrii Svinarenco, CEO, Microinvest; Marcel Varmari, Director of Contracts and Grants, Soros Foundation Moldova; Clive Moody, Managing Partner, Partners, and representative of the sellers SIDI, BFSE and Oikocredit; Levon Khanikyan, CEO, Victoriabank; and Vitalie Corniciuc, Vice President and CFO, Victoriabank.