Finances

ROMANIAN BANK TO RAISE EFFICIENCY OF INVESTMENTS INTO VICTORIABANK

26 december, 2017

After buying Banca Transilvania, 39.2% shares of Moldova’s first private bank – Victoriabank in mid-January 2018, the buyer is planning to raise the efficiency of investments in digital field, in modern produce and crediting services, said Banca Transilvania Executive Director Omer Tetik.

In his interview to Euromoney magazine that concern the development of Victoriabank in accordance with the Moldovan economy.

“At this stage, Banca Transilvania prefers achieving positive results in mortgage credits and loans entrepreneurs. Before, the Banca Transilvania led a number of causes among which the considerable potential of Moldova in small and medium enterprises in the field of which the Banca Transilvania has necessary experience and the know-how”, Tetik said.

The banker said that Banca Transilvania maybe will participate in the further consolidation of Moldovan assets.

“In long-term perspective we are targeted to other investments in condition that they correspond to bank’s strategy and have an equivalent structure of shareholders’ capital. Also, the Banca Transilvania is ready to support any agreement with the European Bank for Reconstruction and Development or with the International Finance Corporation, which also have a share in Victoriabank. Thus, after the buying of 39.2% of “Insidown” company’s shares with registration on Cyprus, Banca Transilvania and the EBRD will be together controlling 66.7% Victoriabank. After approving this agreement, the Romanian bank will make an offer on redeeming shares of other bank shareholders”, he added.

National Bank of Moldova President Sergiu Cioclea maintains that Banca Transilvania statement is important and symbolic for Moldova.

“This means that bank reforms start giving first results, while the market becomes attractive for strategic investors. The Victoriabank is Moldova’s third largest creditor, who was the first to find buyer after the stealing of the billion. Also, the Victoriabank will become the first international bank after 2007. This transaction is the first step outside the Romanian market for Banca Transilvania, which over recent years is rapidly extending, becoming the Romania’s second largest creditor”, Sergiu Cioclea said.

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