Banca Comercială Română SA and Banca Comercială Victoriabank SA, one of the largest banks in the Republic of Moldova, have agreed on the full sale of shares owned by Banca Comercială Română in the BCR Chișinău SA branch. Victoriabank is the third largest bank in the Republic of Moldova by assets, with almost 300,000 active customers and 70 branches throughout the country.

The transaction is expected to be completed in the second half of this year and is subject to several conditions precedent, including the approval of the National Bank of Moldova, the National Bank of Romania, the European Central Bank, the Competition Council. of the Republic of Moldova and the National Commission of the Financial Market of the Republic of Moldova. Until approvals are received, BCR Chisinau and Victoriabank will operate independently, after which BCR Chisinau will be integrated into Victoriabank.

BCR Chisinau has more than 13,000 active clients, 110 employees and four divisions, two in Chisinau, one each in Cahul and Beltsy.

“BCR Chisinau is a reliable and efficient bank, a model of good governance with quality services and products that bring added value to customers. It’s all thanks to the efforts and dedication of a team of extraordinary people. I am grateful to my colleagues at BCR Chisinau for all their passion and dedication, as well as for the support they have provided to clients over the years.

For BCR, this decision is related to the strategy of focusing exclusively on business development in Romania, while for all stakeholders – colleagues, clients and partners – the acquisition of BCR Chisinau Victoriabank means the opening of a new ecosystem of partnership and commercial activity. synergy. In the near future, our priority, together with our partners, is to make the transition as smooth as possible for customers and colleagues,” said Sergiu Maña, CEO of Banca Comercială Română and Chairman of the Supervisory Board of BCR Chisinau.

“BCR Chisinau has more than 13,000 active clients, and the acquisition of Victoriabank is based on the consolidation and accessibility of the services we offer to our clients thanks to a greater territorial coverage. Next comes the integration process, which has been designed to be as simple and easy as possible, and our priority is to provide continuous support and assistance to colleagues and customers throughout the transfer process,” said Juan Luis Martin Ortigosa, Executive President of BCR Chisinau. .

“Over the past 5 years, “Victoriabank” has undergone a large-scale transformation process from the point of view of the corporate management model and business model. In this way, a solid foundation was created based on transparent corporate values ​​and the experience of Banca Transilvania, the largest bank in Romania and one of its largest shareholders. On this strong foundation, Victoriabank has become an innovator in the digital industry of Moldova and has developed by increasing interaction with Romania and the European Union, offering customers and employees numerous innovative solutions that bring them closer to the experience of EU companies,” he said. – said Bohdan Plešuvescu, General Director of Victoriabank 2018-2022.

“This acquisition once again confirms Victoriabank’s mission to strengthen its position in the banking market and its desire to support the economy of the Republic of Moldova. Victoriabank and BCR Chisinau share a similar business model with products and services for individual and legal clients. We appreciate the achievements of BCR Chisinau so far and the high loyalty of its customers,” said Levon Khanikyan, CEO of Victoriabank.

Legal consultants who participated in the structuring, negotiation and implementation of the agreement and the share purchase agreement:

 Schoenherr and Asociatii SCA together with Schoenherr Moldova acting as legal advisor to Băncii Comerciale Române SA

 Filip & Company together with Vernon, David and Associates from the Republic of Moldova, acting as legal advisor to Banca Comercială Victoriabank SA