The coming of Banca Transilvania to Moldova by the acquisition of a majority shareholding in Victoribank together with the European Bank for Reconstruction and Development is the result of the efforts made by the Government to stabilize the situation in the banking sector and is an encouraging sign for other potential investors, Prime Minister Pavel Filip stated in a meeting with the managing director for Financial Institutions at the EBRD Nick Tesseyman, president of Banca Transilvania Horia Ciorcila and president of Victoriabank Bogdan Plesuvescu on April 4, IPN reports, with reference to the executive’s press service.
The Premier said he would like to have a direct dialogue with the large investors. To ensure the more efficient use of money, the mechanism for coordinating the foreign assistance was reviewed. Now the process is handled by the Ministry of Finance. This ensures a prudent and more efficient use of public funds. The Government is also taking measures to improve the business climate, such as the reduction in the number of inspection bodies and permissive documents. The documents are released through the one-stop shop.
The representatives of the EBRD and Banca Transilvania noted the good cooperation relations with the team of the Ministry of Finance and the National Bank of Moldova. They reaffirmed their commitment to invest in the national economy, saying the participation by Victoriabank in the state program “First House” is a conclusive proof.
In November 2017, Banca Transilvania was authorized by the National Bank of Moldova to purchase a shareholding of over 50% in the commercial bank Victoriabank. The transaction took place in two stages, on January 16 and 19, 2018. Currently, Banca Transilvania and EBRD hold together 66.77% of the share capital of Victoriabank.
