Iutecredit continues to execute strategic acquisition plans - Acquisition of 59,7% stake in Energbank and gaining operational control

Iutecredit continues to execute strategic acquisition plans
Acquisition of 59,7% stake in Energbank and gaining operational control

Tallinn, Estonia, 14 February 2022. IuteCredit Europe ("ICE"), a leading European personal finance group, 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 EUR 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 EUR 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.

Contact:

Kristel Kurvits, Group Chief Financial Officer (CFO)
Email: investor@iutecredit.com
Phone: +372 622 9177

About IuteCredit:

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.

www.iutecredit.com