Banca Comerciala Romana (BCR)

History

2023: Victoriabank buys BCR "daughter"

On March 30, 2023, Victoriabank, the third largest bank in Moldova, announced an agreement to acquire the local unit of the Romanian Banca Comerciala Romana (BCR).

We are talking about the structure of BCR Chisinau. The amount of the transaction was not disclosed, but it is said that the participants intend to complete it in the second half of 2023 after obtaining the necessary permits from the regulatory authorities. In particular, the transfer of assets must be approved by the National Bank of Moldova, the National Bank of Romania, the European Central Bank, the Moldovan antimonopoly authority and the Moldovan National Commission on Financial Markets. Until the deal is finally agreed, BCR Chisinau and Victoriabank will operate independently, after which a merger will take place.

Victoriabank bought the "daughter" of BCR

This acquisition is in line with Victoriabank's strategy to strengthen its position in the banking market. Victoriabank and BCR Chisinau share similar business models with products and services for individuals and entities. We commend BCR Chisinau's achievements and customer loyalty to the company, "said Levon Khanikyan, CEO of Victoriabank.

It is noted that the customer base of BCR Chisinau has more than 13,000 people. The bank employs approximately 110 employees, distributed across four branches: two are located in Chisinau, one each in Cahul and Balti. In turn, Victoriabank serves more than 300 thousand customers and operates 70 branches throughout Moldova.

For BCR, the decision to sell the division is connected with a strategy of focusing exclusively on business development in Romania, while for all interested parties, including customers and partners, the takeover of BCR Chisinau by Victoriabank Bank represents an expansion of the existing ecosystem for the provision of banking services.^[1]

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