Banca Transilvania S A : The agreement on the sale of BCR shares in BCR Chisinau to Victoriabank was signed

Banca Comercială Română S.A. and Banca Comercială Victoriabank S.A., one of the largest banks in the Republic of Moldova, have reached an agreement for the full sale of the shares held by Banca Comercială Română in the subsidiary BCR Chișinău S.A. Victoriabank is the third largest bank in the Republic of Moldova by assets, with almost 300,000 active clients and 70 branches throughout the country.

Completion of the transaction is expected to take place in the second half of this year and is required to meet several conditions precedent, including the approval of the National Bank of Moldova, the National Bank of Romania, the European Central Bank, the Competition Council of the Republic of Moldova and the National Financial Market Commission of the Republic of Moldova. Until approvals are received, BCR Chisinau and Victoriabank will operate independently, after which BCR Chisinau will be integrated into Victoriabank.

BCR Chisinau has over 13,000 active customers, 110 employees and four units, two in Chisinau and one each in Cahul and Balti.

BCR Chisinau is a solid and performing bank, a model of good governance with quality services and products that bring added value to customers. All this comes from the effort and dedication of a team of extraordinary people. I am grateful to my colleagues at BCR Chisinau for all their passion and dedication and for the support they have given to clients over the years. For BCR, this decision is part of our strategy to focus exclusively on business development in Romania, while for all stakeholders - colleagues, customers and partners - the takeover of BCR Chisinau by Victoriabank represents the opening of a new ecosystem of partnerships and business synergies. In the immediate period ahead, our priority, together with our partners, is to ensure a smooth transition for customers and colleagues, said Sergiu Manea, CEO of Banca Comercială Română and Chairman of the Supervisory Board of BCR Chisinau.

BCR Chisinau has over 13,000 active customers, and the takeover by Victoriabank is based on the consolidation and accessibility of the services we offer to our customers, through greater territorial coverage. We are following an integration process, which has been designed to be as simple and easy as possible, and our priority is to provide permanent support and assistance to our colleagues and customers during the implementation of this transfer, said Juan Luis Martin Ortigosa, Executive President of BCR Chisinau.

Victoriabank has undergone an extensive transformation process over the last 5 years in terms of its corporate governance and business model. A solid foundation has been created, built on transparent corporate values and based on the experience of Banca Transilvania, Romania's largest bank and one of its largest shareholders. On this solid foundation, Victoriabank has become a trailblazer in Moldova in the digital field and has grown by increasing synergies with Romania and the European Union, offering customers and employees many innovative solutions, which bring them closer and closer to the experience of EU companies, said Bogdan Pleșuvescu, CEO Victoriabank 2018 - 2022.

This acquisition reconfirms Victoriabank's mission to strengthen its position in the banking market and its commitment to be a supporter of Moldova's economy. Victoriabank and BCR Chisinau have a similar business model, with products and services for individual and corporate customers. We appreciate BCR Chisinau's achievements so far and the high loyalty of its customers, said Levon Khanikyan, CEO of Victoriabank.

The legal advisors who participated in the structuring, negotiation and implementation of the transaction and the share purchase agreement are:

• Schoenherr și Asociații SCA, together with Schoenherr Moldova, acting as legal advisor to Banca Comerciale Române S.A.
• Filip & Company, together with Vernon, David and Associates of the Republic of Moldova, acting as legal counsel to Victoriabank S.A.