Supermajority enables full operational control

Tallinn, Estonia, 23 February 2022. IuteCredit Europe (“ICE”), a leading European personal finance group, has acquired an additional 8.1% of the shares of Moldovan Energbank, corresponding to 161,892 shares, for a total purchase price of EUR 1.7 million on the Moldovan Stock Exchange. With 67.8% of shares in Energbank, IuteCredit can exercise full operational control over the bank.

“Supermajority enables full operational control. We will proceed with a mandatory takeover bid to the remaining minority shareholders, while simultaneously preparing to elect new members to the governing bodies of the bank and to start integration of the bank with IuteCredit Group. Our objective is to adapt our fintech solutions and customer-centric culture at the bank. Iute is becoming a fast and convenient modern fintech bank,” said Tarmo Sild, Group CEO of IuteCredit.