BT and EBRD are majority shareholders and strategic partners of Victoriabank, who wish to support the entrepreneurs and the economy of the Republic of Moldova, the bank said in a press release Tuesday.
This is the first time in the past decade when a bank outside the Republic of Moldova is investing on this market, as Banca Transilvania is paving the path for future investments in the neighboring country.
Banca Transilvania announced its plan to invest in Moldova in November 2017 and, in the meantime, this acquisition was approved by the supervisory authorities from both Romania and the Republic of Moldova – the National Bank of Romania, the National Bank of Moldova and the Competition Council of the Republic of Moldova.
The priorities of Banca Transilvania for Victoriabank, as shareholder alongside the EBRD, are as follows to support the business environment in Moldova, especially the SME and micro-enterprise sector; to develop a wider range of products and services for retail clients; to bring the organizational culture and corporate governance of Victoriabank in line with those of the Banca Transilvania Financial Group; to become involved in the personal and professional development of people with entrepreneurial spirit in Moldova, through meetings and courses organized by BT Club, which are meant to provide learning and networking opportunities.
Victoriabank has almost 30 years of activity, 540,000 customers, 1,400 employees and nearly 100 units. It was the initiator of several first-time events on the local banking market, such as: the first card issued, the first ATM and the first POS installed, as well as the first premium cards issued. The bank enjoys a very high degree of confidence from customers: the highest level of deposits to total assets on the entire market of the Republic of Moldova, namely 80%, while the loan/deposit ratio is the lowest on the market, reaching 39%.
Banca Transilvania is the second largest bank in Romania, with 2.2 million customers, more than 7,000 employees and over 500 units. BT is the Bank for Entrepreneurial People, with over 250,000 corporate clients and more than a third of businesses newly set up in 2017 in Romania choosing to work with Banca Transilvania. The bank’s strategy is supported by strong international shareholders, such as the European Bank for Reconstruction and Development (EBRD) and IFC, a member of the World Bank Group.
The BancaTransilvania Financial Group has been present in the Republic of Moldova for over ten years, since it founded BT Leasing MD, which is the market leader in the area of lease finance for fixed assets.