BANCA TRANSILVANIA BOUGHT 39.2% VICTORIABANK SHARES

On Tuesday, 39.2% of the Moldova's first private and systemic bank - Victoriabank shares, put for sale by the Insidown company in December 2017, have been sold to a strategic foreign partner - the Romania's second largest bank - Banca Transilvania on Tuesday.

After the transaction was conducted, the new inspector together with the European Bank for Reconstruction and Development (EBRD) holds 66.7% shares in Victoriabank. Shares, put for sale with registration on Cyprus, were sold at a price of 78.21 lei per one share with nominal value of 10 lei and equity multiplier of 0.75.

Before, the Banca Transilvania leadership stated that it intends to raise the efficiency in Moldovan bank's digital technique, fast and modern products, including crediting services.

"At the current stage, the Banca Transilvania priorities concern the development of Victoriabank in accordance with Moldovan economy's development", stressed BT Executive Director Omer Tetik.

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

"In long term perspectives we are targeted to other investments, with condition that it correspond to the bank's strategy and have an equivalent structure of shareholder capital. The Banca Transilvania will be ready to support any transaction with the EBRD or the International Finance Corporation (IFC), which also have a share in the group. Thus, after redeeming 39.2% of Insidown shares, the BT and the EBRD will jointly control 66.7% of Victoriabank. After approving this transaction, the Romanian bank will make an offer on buying the shares of other stockholders in this bank", he added.

As Infotag has already reported, the coming of a strategic investor into one of Moldovan systemic banks is a merit of the National Bank of Moldova (NBM), whose leadership during the last year is resolving the task on attracting investors in three systemic banks with the market share of more than 65%.

The NBM is working to achieve that foreign investors to enter the other two systemic banks - the Moldova Agroindbank and the Moldindconbank as well, buying packages of 41.09% and 63.89%, respectively.

Before, NBM governor Sergiu Cioclea said that the Banca Transilvania's intentions are important and symbolic for Moldova.

"The coming of such an investor to Moldova means that bank reforms give the first results, while the market becomes attractive for strategic investors. Victoriabank is Moldova's third largest creditor, which was the first to find a buyer after the stealing of the billion from three Moldovan banks. He also is the first who after 2007 will become an international bank", said the NBM President.

Infotag's dossier: Victoriabank is working in the Moldovan market for almost 30 years already. Its 1.4 thousand employees are servicing 0.54 million clients. In late 2017, the bank has paid to shareholders intermediary dividends in the amount of 5.4 lei per share.