Banca Transilvania Plans To Acquire Microinvest in Republic of Moldova

Banca Transilvania, Romania's largest lender by assets, plans to acquire 100% of the share capital of Microinvest, which specializes in financing small businesses and is the leader of the non-banking financing market in the Republic of Moldova.

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Imaginea articolului Banca Transilvania Plans To Acquire Microinvest in Republic of Moldova

Banca Transilvania Plans To Acquire Microinvest in Republic of Moldova

The bank said in a statement Tuesday it is currently in the process of requesting approvals for the acquisition from regulatory authorities in Romania and other relevant bodies.

“The step we are making through this new acquisition shows BT’s commitment to support as many entrepreneurs as possible by developing the micro financing 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 by increasing synergies with other companies of Banca Transilvania Financial Group from the Republic of Moldova, namely BT Leasing and Victoriabank,” said Ömer Tetik, CEO of Banca Transilvania.

Microinvest has more than 25,000 clients, almost 200 employees, 13 branches and granted so far over 30,000 loans.

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. KPMG and EY were partners in the project.

Banca Transilvania Financial Group entered the Moldovan market in 2008, first with its leasing division BT Leasing Moldova and in 2018 it acquired local Victoriabank.

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