EBRD and Banca Transilvania join forces to become majority shareholders of Moldova’s Victoriabank. Romania’s Banca Transilvania intends to acquire an initial stake of over 39 percent in Victoriabank – Moldova’s third largest bank – it has requested the approval of the acquisition from the banking regulators of Romania and Moldova and relevant authorities. This is the first time a foreign bank investor is entering the Moldovan market since 2007.
As a result of the planned investment, Banca Transilvania and the EBRD will jointly hold a controlling stake in Victoriabank. In line with the law they will then offer to buy remaining shares. The EBRD, a minority shareholder in Victoriabank, increased its stake to 27.5 per cent last year in a move to restore effective corporate governance and attract a strong strategic investor to Victoriabank. Banca Transilvania is the second-largest bank by total assets in Romania with the EBRD as a shareholder since 2001.
