IuteCredit increased its share of Energbank to 67.8% - Supermajority enables full operational control

IuteCredit increased its share of Energbank to 67.8%
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 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 adopt 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.

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