Victoriabank, part of the Banca Transilvania Financial Group, has taken the first step today toward a new acquisition in the Republic of Moldova, in the microfinance sector. Representatives of Victoriabank and Microinvest, the market leader in microfinance in Moldova, signed an agreement in Chisinau through which Victoriabank will acquire Microinvest. The new acquisition will support the growth of Victoriabank, the third-largest bank in the Republic of Moldova, by diversifying its offerings, bringing in a large number of new clients, and gaining expertise in microfinance. Microinvest is the largest non-bank lending company in Moldova, with a solid market share, 40,000 clients (both individuals and legal entities), 350 employees, and 17 branches. It provides financing for SMEs, agribusinesses, as well as clients’ personal plans. “Microfinance is a key niche for the Banca Transilvania Financial Group, developed through BT Mic, BT Direct, and Banca Transilvania. We aim to replicate in Moldova the success we’ve had in Romania in supporting clients through microfinance and in the area of acquisitions,” said Bogdan Plesuvescu, Deputy CEO, Banca Transilvania. “The acquisition of Microinvest reflects Victoriabank’s strategy of growth through acquisitions. Microinvest has always been a company we admired for redefining microfinance in Moldova with innovative products and strong client relationships. We appreciate its success, the professionalism of its team, and its positive impact on the local economy,” said Levon Khanikyan, President of Victoriabank. “We are honored by the trust placed in us and see this change as an opportunity to accelerate our impact on Moldova’s economy. Microinvest remains true to its mission – to provide accessible, personalized, and responsible financing throughout the country. The support of a strategic shareholder like Victoriabank, part of the Banca Transilvania Financial Group, strengthens our ability to innovate, expand our range of financial products, and get closer to clients across all regions,” said Dmitrii Svinarenco, CEO of Microinvest. The transaction will be finalized after obtaining approvals from regulatory and supervisory authorities in both Romania and Moldova. Until then, Microinvest will continue to operate independently. Banca Transilvania Group collaborated with legal and financial advisors from both Romania and Moldova—Filip & Company, Vernon | David and Associates, and PWC—for the evaluation and preparation of the transaction. Victoriabank recently completed its merger with BCR Chisinau, marking the successful conclusion of Banca Transilvania Group’s first acquisition in the Republic of Moldova.
Romania has one of the lowest levels of property taxation in the European Union, with annual payments averaging under EUR 100 per person - more than seven times below the EU average, real estate consultancy Cushman & Wakefield Echinox said in an analysis based on Eurostat data. The study found that Romania collects property tax […]
The City Hall is set to hold a series of events dedicated to the Bucharest Days celebration on the weekend of September 20-21, including open-air concerts, theater performances, film screenings, exhibitions, and guided tours. The event starts with "Open Streets - Bucharest. Urban Promenade," which will bring to life this anniversary weekend on Calea Victoriei […]
A Romanian Air Force C-130 Hercules aircraft evacuated 10 Palestinian patients from Gaza on Wednesday, September 17, in a humanitarian mission coordinated with European and international partners, Romania’s Department for Emergency Situations (DSU) said. The patients, accompanied by 28 relatives, were flown from Israel’s Ilan and Asaf Ramon International Airport to Bucharest’s 90th Airlift Base […]
Romanian developer One United Properties (BVB: ONE) has signed a memorandum of understanding (MOU) with lifestyle hospitality company Ennismore to open a hotel under the brand The Hoxton in Bucharest. The Hoxton Bucharest will be located on Academiei Street, close to the University of Architecture. The hotel will rise on the site of three historic […]
Fewer than three out of four Romanians have a good opinion about the introduction of voluntary military service, a ratio slightly lower compared to a decade ago in 2015, the percentage being now lower among the AUR and PSD electorate, according to an ISCOP Research survey published on September 17 in the context of Russia […]
Romanian president Nicusor Dan informed the Parliament that he approved a request by the United States to bring additional forces to Mihail Kogalnicanu base at the Black Sea, in light of the rising tensions in the Middle East, according to
