Shareholders of Victoriabank and BCR Chișinău approved the merger of the two banks; in the first half of 2025 they will begin operating under the Victoriabank brand
A joint press release from the banks reported that Victoriabank shareholders approved its reorganization through a merger (acquisition) with BCR Chișinău at an extraordinary general meeting held on August 21 in Chisinau. On August 22, the shareholders of BCR Chișinău approved its reorganization through a merger (absorption) with Victoriabank. The decisions of the general meetings of shareholders of both banks will be published in the Official Monitor on August 30. It is reported that until the merger, both banks will operate separate activities, so BCR Chișinău clients should continue to contact the respective bank. BCR Chișinău clients with Visa Classic or Visa GOLD cards already have access to 230 Victoriabank ATMs to withdraw cash under conditions similar to BCR Chișinău ATMs. In the near future, BCR Chisinau clients will receive information about Victoriabank's products and services, as well as a welcome offer. Recall that Victoriabank acquired a 100% stake in BCR Chişinău for 224.01 million lei (11.5 million euros). The purchase and sale transaction of 72813 shares of BCR Chişinău at a price of 3076.53 per share took place on the Stock Exchange of Moldova on January 11 of this year, its total value amounted to 224 million 011 thousand 378.89 lei. The sole shareholder of BCR Chișinău was Banca Comercială Română - a leading bank in Romania, a member of the Erste group (Austria), which owned its 72,813 shares with a nominal value of 10 thousand lei per share. The authorized capital of BCR Chișinău is 728.13 million lei. Victoriabank is one of the largest banks in Moldova with assets of more than 20 billion lei. Victoriabank's largest shareholders are Banca Transilvania from Romania and the European Bank for Reconstruction and Development through the Dutch company VB Investment Holding BV, which owns 72.19% of the Moldovan bank's shares. The merger of the 2 banks is aimed at increasing their efficiency, consolidating operations and the portfolio of loans and deposits, strengthening their positions in the market, etc. // 22.08.2024 — InfoMarket.
