Banca Transilvania: a new acquisition in Republic of Moldova

Banca Transilvania intends to acquire 100% of Microinvest share capital, a company specialized in the financing of small businesses, the leader of the non-banking financing market in the Republic of Moldova.

Microinvest has built over time a solid position on the microfinancing market and positioned itself as a strong brand. The company has more than 36,500 clients, almost 200 employees, 14 branches and granted so far over 30,000 loans.  Another strength of Microinvest is its professional management team, with experience and expertise in banking and microfinancing.

“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 capitalize on to the benefit of our clients who are in the early stages of their business endeavors. 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” – states Ömer Tetik, CEO, Banca Transilvania.

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

In assessing and preparing this transaction, Banca Transilvania worked together with law firms and legal counsels in Romania and the Republic of Moldova, the project team comprising Filip & Company and Vernon | David and associates. Also, KPMG and EY were partners in the project.

A participant to the financial market from the Republic of Moldova since 2008, initially through BT Leasing Moldova and since 2018 through  Victoriabank,  Banca Transilvania Financial Group supports entrepreneurs and contributes to the consolidation of the economy in the region.

  • Banca Transilvania is the largest bank in Romania and South-Eastern Europe, by total assets and is recognized as The Bank of Entrepreneurs. It has over 3 million clients, 500 branches and agencies and approximately 10,000 employees. It is the only Romanian brand listed in the Brand Finance 500 ranking, presented by Brand Finance in 2019 and 2018. The BT story started in Romania, in Cluj-Napoca, almost 26 years ago, with a team of 13 people and one branch.
  • BT Mic is the microfinancing start-up of the Banca Transilvania Financial Group, which complements the bank’s role of supporting entrepreneurs. It is focused on companies with an annual turnover of up to 1 million lei, irrespective of the business sector and organizational form. BT Mic now has more than 10,000 clients from industries, companies employing over 20,000 people in 2,000 localities in Romania.
  • BT Leasing Moldova is the leader of the leasing market in the Republic of Moldova, by volume of financed goods. It has more than 3,000 clients, out of whom 60% are companies. SMEs represent 90% of the financed companies. BT Leasing MD offers a wide range of products and services in terms of financial leasing solutions for the acquisition of vehicles, equipment, machinery, and real estate assets, both for individuals and companies from the Republic of Moldova.
  • Victoriabank is the third largest bank in the Republic of Moldova. It has close to 270,000 active clients, including over 10,000 companies, as well as 100 branches and agencies and 1,100 employees. It is the first commercial banking institution set up in Moldova, in 1989. Banca Transilvania is a shareholder of Victoriabank since 2018 and together with the European Bank for Reconstruction and Development has set up a strategic partnership aimed at supporting the economy of the Republic of Moldova.

Source: https://www.bancatransilvania.ro/bt-social-media-newsroom/stiri/banca-transilvania-o-nou-achiziie-in-republica-moldova/

 

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