Victoriabank, a subsidiary of Romania’s Banca Transilvania Group, has signed an agreement to acquire Microinvest, the leading non-bank microfinance institution in the Republic of Moldova. The deal, announced Thursday in Chișinău, marks the group’s latest expansion into the Moldovan market, following Victoriabank’s recent merger with BCR Chișinău.

The transaction is subject to approval by regulatory authorities in both Romania and Moldova. Until then, Microinvest will continue to operate independently. The companies have not disclosed the value of the deal.

With this acquisition, Victoriabank - the third-largest bank in Moldova - aims to diversify its portfolio and strengthen its position in the local financial sector by entering the microfinance segment.

Microinvest currently serves around 40,000 clients, including small businesses and individuals, and employs 350 people across 17 branches nationwide.

Microinvest finances a range of activities, from agribusiness and SMEs to personal projects, and holds a significant share of Moldova’s microfinance market.

irina.marica@romania-insider.com

(Photo source: the company)