International financial evaluation agency raises rating of Romanian fund institution, major shareholder of top – Moldovan bank
21:22 | 06.06.2018 Category: Economic
Chisinau, 06 June /MOLDPRES/ – Financial Rating Agency Fitch Ratings has revised the Long – term Issuer Default Rating (IDR) for long-term financing of Banca Transilvania from BB to BB + with a stable outlook and viability ratings from bb to bb + . The European Bank for Reconstruction and Development (EBRD) and Banca Transilvania (BT) own 72 per cent of social capital of Victoriabank which is the third largest bank of Moldova.
Banca Transilvania is the second largest loan institution in Romania based on assets. BT posted a net profit of 366 million lei (€78 million) in the first three months of 2018, up 48 per cent compared to same period in 2017. The Bank's strategy is supported by strong international shareholders such as EBRD, IFC, which is the World Bank Division, but also investment funds. Banca Transilvania has over 28,000 Romanian persons as shareholders and almost 55 per cent of Romanian capital.
BT became shareholder at Victoriabank in 2018, and in April it increased its stake by 5.42 per cent and, together with EBRD, owns 72 per cent of capital of the bank in Chisinau. EBRD and BT bought another 1,356,058 shares in an open tender on Moldova Stock Exchange at a price of MDL 78.21 for a nominal share of MDL 10. BT and EBRD, as strategic partners, want to continue growth of Victoriabank and contribute to consolidation of banking environment in Moldova.
(Reporter V. Bercu, editor L. Alcaza)