Intesa Sanpaolo, one of the largest banks in Italy, became the majority shareholder of BC “Eximbank-Gruppo Veneto Banca” SA of Moldova, IPN reports.

In a press release, the National Bank of Moldova says that Intesa Sanpaolo, with the unanimous consent of the Administration Board, on June 26 signed a contract for the purchase of assets and liabilities belonging to  Veneto Banca, including the banks owned by this group in Moldova, Croatia and Albania.

Intesa Sanpaolo is one of the largest banks in the Eurozone, with capitalization of over €45 billion. In Italy, Intesa Sanpaolo has over 11.1 million clients and a market share of 12%. Outside Italy’s borders, Intesa Sanpaolo developed a powerful presence in the countries of Central and Eastern Europe, including Romania, as well as in Northern Africa and Middle East, where it serves over 7.7 million clients.

According to the National Bank of Moldova, BC “Eximbank-Gruppo Veneto Banca” of Moldova suffered no consequence as a result of this transfer. The bank’s offices and subdivisions will work as usual and will be fully functional. All the banking operations could be performed without changes, but under the responsibility of the new shareholder Intesa Sanpaolo.