A shareholder in Mobiasbanca since 2008, the UK-based European Bank for Reconstruction and Development (EBRD) recently exited its holding in Moldova’s Mobiasbanca. EBRD sold this 8.84-percent stake to an unidentified buyer for EUR 2.6 million (USD 2.9 million). Mobiasbanca is controlled by Groupe Societe Generale, a banking group based in France, but Societe Generale is in the process of selling its subsidiary to OTP Group, a banking group based in Hungary. That transaction involves Societe Generale selling 88 percent of Mobiasbanca for an undisclosed price.
Since 1996, EBRD has lent EUR 60 million (USD 68 million) to Mobiasbanca “for on-lending to local companies…providing access to finance to small and medium-sized enterprises in Moldova…”. As of 2018, MobiasBanca reported total assets of MDL 10.9 billion (USD 636 million).
As of 2019, Groupe Societe Generale reported approximately 147,000 employees serving 31 million customers in 67 countries. As of December 2018, the group had total assets of EUR 1.3 trillion (USD 1.5 trillion).
OTP reports total assets of HUF 14.6 trillion (USD 51 billion), return on assets of 2.3 percent and return on equity of 19 percent as of December 2018. The group operates 1,400 branches, 4,300 automated teller machines and 113,000 other service points in Eastern and Southeastern Europe.
EBRD, which began operations in 1991, is headquartered in London. It is owned by 65 countries as well as the European Investment Bank and the EU. The organization provides loans, debt securities, equity investments and technical assistance to micro-, small and medium-sized businesses via commercial banks and microfinance institutions. During 2017, EBRD invested EUR 9.7 billion (USD 11 billion) in projects spanning 67 countries. As of December of that year, it reported total assets of EUR 56 billion (USD 66 billion).
Sources and Additional Resources
EBRD press release
https://www.ebrd.com/news/2019/ebrd-exits-moldovas-mobiasbanca-.html
OTP press release
https://www.otpbank.hu/static/portal/sw/file/190206_moldova_015_e.pdf
Groupe Societe Generale press release
https://www.societegenerale.com/en/newsroom-sale-mobiasbanca-societe-generale-otp-bank
MobiasBanca homepage
https://mobiasbanca.md
MobiasBanca financial reports
https://mobiasbanca.md/en/mandatory_information
OTP Bank
https://www.otpbank.hu/
OTP 2018 financial summary
https://www.otpbank.hu/static/portal/sw/file/190228_OTP_20184Q_e_final.pdf
Groupe Societe Generale homepage
https://www.societegenerale.com
Groupe Societe Generale Quarterly Financial Report
https://www.societegenerale.com/sites/default/files/documents/R%C3%A9sultats%20financiers/2018/Q4/financial_statements_and_notes_2018.pdf
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