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Today in Chisinau the closing of the transaction whereby Veneto Banca has acquired 100 per cent of shares of the Joint Stock Commercial Bank “Eximbank” from a Canadian Royal HTM group with residence in Toronto has taken place.

The Joint Stock Commercial Bank “Eximbank” with its head office located in the capital of the Republic of Moldova has 15 branches and 38 representative offices, located throughout the country, 399 employees, statutory fund of 65 million Moldovan lei (4,2 million Euro) and capital of over 100,000,000.00 Moldovan lei (6,5 million Euro).

“This financial institution is a solid commercial bank with a good share of the market” – points out the General Director of Veneto Banca Vincenzo Consoli. “Before the acquisition we had thoroughly and in great detail analyzed the state of this financial institution and are absolutely confident that we made the right choice, based on the steady growth from year to year of the managed assets. We will use this growth potential and are sure that Eximbank will meet our expectations”. “Since the year 2000 we have been present in Romania with Banca Italo Romana”, continues the President of Veneto Banca Flavio Trinca, “providing our support for numerous enterprises from the whole Veneto region and Treviso in particular, which have transferred their activity there. During these years we witnessed rapid transformations taking place in Romania on its way to the integration into the European Union, which is to take place in 2007. We have observed that during last three years the investments from Veneto have been oriented towards the Northern region - Transylvania and to the Eastern part of the country, as well as to the Republic of Moldova and Ukraine. Taking into account the trends of Romania to conform to the parameters of the European Union, it’s logical to expect that in the near future more and more of our enterprises will concentrate their business in the Republic of Moldova. This is the reason for us to be present in this country right now, and we consider this acquisition as our first step in our expansion into the Eastern Europe, which has been for a long time part of our strategic plans.

“I think that the acquisition of the whole packet of Eximbank shares by the Italian bank Veneto Banca is very significant both for us (representatives of Eximbank) and for the whole economy of the Republic of Moldova”, asserts Marcel Chirca, President of Eximbank. “I am sure, that we are opening today a new page in the long term development of both the bank and the whole banking system of the country. The fact that Eximbank shareholder is a bank of a European level will open new possibilities for our bank; will allow us to widen the range of provided services and products, both from the point of view of quality and quantity; will significantly increase the volume of crediting of the national economy, develop the retail services segment, introduce the latest banking technologies, using the rich experience of Veneto Banca. I am confident that within a very short period of time Eximbank will raise to the top of the banking system of the country, making a big contribution to the process of attracting foreign investments into the Republic of Moldova”.

“Expansion of Europe means that the Eastern Europe will become a new important frontier for Italian enterprises”, stresses Mr. Consoli. “Our main objective is to support our enterprises during the process of their internationalization, and at the same time we take into consideration the fact that in the future these countries are going to become an important market for the banking activity. Our experience with Banca Italo Romana has confirmed this supposition and we are convinced that the whole region will follow a similar development pattern”.

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