Moldindconbank achieved good financial results for 2019
According to preliminary data Moldindconbank obtained in 2019 a net profit in the amount of 678.4 million lei, being 35.6% higher than the previous year. Therefore, the Bank's equity (according to IFRS) reached a historical volume of 3,264.3 million lei, increasing by + 26.3% during 2019.
This performance allowed Moldindconbank to consolidate its leading position in the ranking of the most profitable and efficient banks in the Republic of Moldova, with high indicators of return on assets (ROA) - 3.67% and return on capital (ROE) - 23.12%.
Essential progress was also made on volume financial indicators, demonstrating a dynamic development of the Bank during 2019.
- Total assets increased by 1,953.1 million lei (+ 11.8%), constituting a volume of 18 436.9 million lei, with a market share of 20.35% (2nd place).
- Total gross loans increased by 767.3 million lei (+ 11.3%), reaching a volume of 7 560.2 million lei, with a market share of 18.72% (2nd place).
- Total deposits increased by 988.1 million lei (+ 7.6%), registering a volume of 14 074.4 million lei, with a market share of 20.59% (2nd place).
Another performance achieved by Moldindconbank in 2019 is the improvement of the quality of the loan portfolio, which registered a significant decrease in the share of non-performing loans (CDE) in total portfolio compared to 2018, from 21.05% to 11,74%. Similarly, the share of expired loans in total portfolio decreased substantially from 8.91% in 2018 to 2.85% at the end of 2019.
It is worth mentioning that Moldindconbank still manages the largest territorial network, comprising 185 offices, and continues to hold the leading position in the bank card market, with a share of 38% (Tr. III - 2019), as well as on the money remittances market, with a 36% share (Tr. IV - 2019).
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