Victoriabank SA has acquired BCR Chișinău. Thus, ten banks licensed by the National Bank of Moldova have remained in the Republic of Moldova, IPN reports.

Victoriabank SA noted that this is a premiere on the Moldovan market as a local bank bought another Moldovan banking institution. The agreement to sell the shares held by Banca Comercială Română in BCR Chișinău was announced at the end of March 2023, and since then all approvals from the authorities for the transaction had been received.

The integration of BCR Chișinău into Victoriabank will take place in approximately six months and is planned to be as smooth as possible for BCR Chișinău customers who, during the integration period, should continue to contact the BCR Chișinău team.

The integration will be carried out with the contribution of both banks and, based on Banca Transilvania Financial Group’s expertise on bank acquisitions and integrations in Romania. BT Group has extensive experience in Romania on rapid bank acquisition and integration, having so far acquired Idea::Bank (2021), Bancpost (2018) and Volksbank Romania (2015).

BCR Chișinău has over 13,000 customers, about 100 employees and four branches.