The deal on the economic concentration of the Romanian Banca Transilvania and Microinvest, the largest player in the non-bank financing market in Moldova, did not take place.
According to the Competition Council, the parties to the economic concentration announced in early 2020 analyzed the previously concluded contract and notified the Competition Council that they do not intend to implement the previously agreed agreements on the original conditions and within the previously established time frame. In this regard, the Romanian Banca Transilvania requested to withdraw the notification of economic concentration and the related package of documents. The Competition Council approved this request. As InfoMarket reported earlier, last year Banca Transilvania informed the Moldovan regulatory authorities of its intention to acquire 100% of shares in Microinvest, the leader of the non-bank financing market in Moldova. As expected, the acquisition of Microinvest would combine the business model that Banca Transilvania is implementing in Romania through the microfinance startup BT Mic with the Microinvest model. In Romania, BT Mic focused on companies with an annual turnover of up to 1 million Romanian lei. Recall that Banca Transilvania is the largest bank in Romania and South-Eastern Europe in terms of assets. The bank has more than 3 million clients, 500 offices and about 10 thousand employees. Banca Transilvania has been present on the Moldovan market since 2008 through BT Leasing Moldova, and since 2018 through Victoriabank. Microinvest at the end of September 2020 remained the leader in the non-bank lending market with a share of about 27% (the loan portfolio exceeds 2.1 billion lei). The company had the largest assets on the market (2.4 billion lei) and an impressive client base - over 35 thousand clients.// 08.02.2021 — InfoMarket.
