Romania's Banca Transilvania launches takeover bid for Victoriabank

Banca Transilvania, the second-biggest lender in Romania by asset value, launched on February 14 a mandatory public offer for a 33% stake in Moldovan bank Victoriabank. The Romanian group is willing to pay EUR 31 million for the shares. Banca Transilvania and the European Bank for Reconstruction and Development (EBRD) currently own over 66% of Victoriabank’s shares. The acquisition was completed at the beginning of this year. Banca Transilvania didn’t announce how much it paid for this acquisition. Victoriabank is the third-biggest bank in Moldova. It has 1,400 employees and 100 units, which serve some 540,000 clients. editor@romania-insider.com