IuteCredit Europe (ICE), a leading European personal finance group which is 100% shareholder of IuteCredit Albania, has continued its strategic acquisition plans with the purchase of an additional 49.7% stake in Moldovan Energbank.

The total purchase price for 994,645 shares acquired on the stock exchange amounted to Euro 8.3 million. As a result, IuteCredit now owns 59.7% of Energbank shares.

Already in January, IuteCredit had acquired on the stock exchange the first stake of 9.976% of shares of Moldovan Energbank, corresponding to 199,519 shares, for a total purchase price of Euro 1.7 million.

With the approval of the acquisition of a qualified stake in the share capital of Energbank by the Central Bank of the Republic of Moldova, IuteCredit is working towards a rapid and orderly transition of the bank's overall share ownership and operational control.

IuteCredit plans to acquire maximum ownership of the bank by purchasing shares at market conditions.

“IuteCredit is moving in the direction of a fastest and most convenient modern fintech bank. After the acquisition, we plan to integrate the bank with the Iute Group, adopt our innovative technological solutions, and make all banking services available on a smartphone,” said Tarmo Sild, Group CEO of IuteCredit.

Akan Ajdini, CEO of IuteCredit Albania says, “For us in IuteCredit Albania, receiving of e-money licence from Bank of Albania is a sign of where we aim to be in the near future, transforming ourselves from a fast and comfortable small loans institution into a modern fintech bank, where loans and payments happen in seconds and from the smartphone”.

About IuteCredit Europe

IuteCredit - established in 2008 - is a leading European personal finance company. The Group is specialized in consumer credits via its 100% subsidiaries using equity and loan capital. IuteCredit serves customers currently in Moldova, Albania, North Macedonia, and Bulgaria as well as Bosnia and Herzegovina.

IuteCredit's loan products are unsecured consumer loans with maturities between 1 month and 48 months and car-secured loans with maturities up to 72 months. IuteCredit operates its own ATM network which is used via smartphone app.

The mission of IuteCredit is to create the extraordinary experience in personal finance by exceeding customers' expectations.