Banca Transilvania (BT), the biggest financial group in Romania by assets, plans to take over Microinvest, a company specialized in financing microenterprises, the leader of the non-bank financial market in Moldova.
Banca Transilvania is already active on the banking market in Moldova, where it holds the majority stake in Victoria Bank in partnership with the European Bank for Reconstruction and Development (EBRD).
The Romanian group aims to get 100% control over the micro-financing company. Microinvest’s shareholders are Balkan Financial Sector Equity Fund Netherlands (54.9%), followed by the Soros-Moldova Foundation (24.4%), Oikocredit from the Netherlands (12.8%), Driehaus Richard from the USA (4.8%), and SIDI France (3.1%).
“The step we are making through this new acquisition shows BT's commitment to supporting as many entrepreneurs as possible by developing the microfinance activity of the Banca Transilvania Financial Group. It is the opportunity that we want to use in favor of customers at the beginning of their journey. We will do this by combining the business model we have in Romania at BT Mic, with that of Microinvest, as well as by increasing synergies with other Group’s companies,” Banca Transilvania said in a statement.
(Photo source: Banca Transilvania)