Project description and objectives
The EBRD is prepared to increase its stake in Victoriabank, Moldova’s third-largest lender. While currently the owner of a 15.06 per cent-stake, the EBRD has applied for and received regulatory approval to acquire up to 50 per cent of the shares of Victoriabank. However, the EBRD has not yet determined the exact amount of its proposed increased stake, which will depend on market developments.
Transition impact
The aim of this project is to restore effective corporate governance at the bank and to ensure its continued sound financial performance.
The client
Commercial Bank Victoriabank SA is the third largest commercial bank, out of 14 banks, in Moldova, with a market share of 13.90 per cent (by total assets) as of end-September 2014. Also, as of the same date, Victoriabank’s total assets amounted to €618 million, net loans to €368 million and total equity to €97.7 million. The net profit for 2013 was of €15.2 million and of €7.1 million as of end-September 2014. Victoriabank is a universal bank, servicing over 330,000 clients in corporate, SME and retail sectors, and operating through a network of 108 branches and other units in Moldova.
EBRD finance
The EBRD will invest the required amount as additional equity, and may investment more depending on market developments.
Total project cost
EBRD will invest the required amount as additional equity, and may invest more depending on market developments (see also Project description and objectives above).
Environmental and social categorisation, impact, and mitigation
Categorised FI. Victoriabank has been a client of the Bank since 1995 and is required to implement the EBRD’s Environmental Procedures for Financial Intermediaries under all transactions with the EBRD.
Technical cooperation
None.
Company contact
Commercial Bank Victoriabank SA
31 August 1989 Street, 141
Chisinau, 2004,
Republic of Moldova
Phone: +373 22 57 61 00
E-mail: office@victoriabank.mdBusiness opportunities
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
Public Information Policy (PIP)
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP
