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National Bank lifted the early intervention regime at BC “Moldindconbank” S.A.


The Executive Board of the National Bank of Moldova (NBM) decided unanimously to lift the early intervention regime at BC „Moldindconbank” S.A.

According to the NBM, “the decision was taken with the approval, on 10 February 2020, of Nikolay Borissov and Penka Kratunova as members of the bank’s Management Committee. Both of them have a wide financial and banking experience at international level. At the same time, Victor Cibotaru, nominated by the NBM as temporary administrator, returned to his position of Prime Vice-President“.

Thus, BC „Moldindconbank” S.A. starts to resume its independent activity in normal regime, being reestablished the functionality of its statutory management bodies. The bank’s Board of Directors fully operational on 2 December 2019 while the Managing Board as of today, 11 February.

The early intervention regime was established at B.C. „Moldindconbank” S.A. on 20 October 2016 in the context of the issue of shareholder transparency. In more than 3 years of early intervention, the bank’s assets increased by 20,8% up to MDL 18.44 billion, at the same time improving their quality, the non-performing assets decreasing last year by MDL 748.8 million, or 35.6%, and less by MDL 455 million compared to 2016. Regarding the bank’s net profit, this constituted MDL 678,7 million (as of 31.12.2019), exceeding the result registered at the end of 2018 by 35,7%.

Thus, the decision of lifting the early intervention regime, according to the NBM "was determined by the fact that the bank has perfected its internal normative acts and internal control system, increased the level of transparency of the ownership and got results by observing the supervision measures of credit activity prescribed by the National Bank.”

Thus, in the over three years of early intervention regime, there was ensured the financial stability and maintained the market share of BC „Moldindconbank” S.A. In the meantime, the bank straightened its position in the ranking of the most reliable and efficient banks of the Republic of Moldova, becoming an attractive financial institution for strategic investors. 

The single share package of BC „Moldindconbank” S.A. has been purchased last year by a European investor „DOVERIE UNITED-HOLDING AD”, the aim of which is to develop an efficient, transparent and innovative strategy.

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