Moldindconbank

On holding the Annual Ordinary General Shareholders Meeting

28.06.2019

On June 28, 2019, took place the Annual General Meeting of Shareholders of BC „Moldindconbank” S.A., according to tradition, at the National Theatre “Mihai Eminescu”. After a pause of three years, the holding of the General Meeting of Shareholders with presence is due to the reestablishment of the Bank shareholders 'composition, following the acquisition by the company „Doverie-Invest" JSC (Bulgaria) of 63.89% of the Bank's share capital, subsequently being increased to 77.62%, following the offer of compulsory takeover of the issued shares of the Bank.

The new majority shareholder „Doverie-Invest" JSC is a daughter company of the fund „DOVERIE UNITED-HOLDING AD” – an investment holding with participation in over 20 enterprises from various economic fields, operating in several countries of Europe.

In the framework of the Meeting were discussed the following issues:

About the annual financial report of the Bank for the year 2018.
About the annual report of the Board of Directors of the Bank for the year 2018.
About the election of members of the BC „Moldindconbank” S.A. Board of Directors.
About the payment of dividends.

At the Meeting, were reviewed the main achievements of the Bank of the year 2018:

The Bank maintained its market positions on most of the basic financial indicators, including: total Assets - 16,5 billion lei (II place), total Loans – 6,8 billion lei (II place) and total Deposits - 13,1 billion lei (II place).
In 2018 was registered the highest net profit in the Bank's history - 500,3 million lei.
Increase of the profitability indicators of the Bank's activity, ensuring the Bank's first place on the banking system based on ROA (3.0%) and ROE (20.8%).
The Bank has improved its position in the top 100 largest banks in Southeast Europe, taking the 74th place by asset volume and the 5th place by asset return (ROA), according to the SEE Top 100 Banks 2019.
Strengthening the leading position on the active issued banking cards market (38.4%) and on the international money transfers market (37.1%).
Furtherance of the successful development of the most innovative financial and banking services on the Moldovan market, for which the American magazine Global Finance has designated Moldindconbank as - The most innovative bank of Moldova in 2018.

The financial reports of the Bank for the year 2018 were audited and confirmed by the audit company "Moore Stephens" KSC.

At the Meeting, it has been elected the new establishment of the Bank's Board of Directors for a term of 4 years, which is to replace the temporary administrators with the competences of member of the Bank Board of Directors. The new Board of Directors includes 7 persons with large experience in the financial-banking sector from Moldova, Bulgaria, France, Great Britain and Greece.

At the meeting it has been decided to not pay the dividends, thus the profit obtained in the year 2018 remains undistributed in order to strengthen the Bank's position on the banking market.