​NBM RECOVERED 600 MILLION LEI SINCE LICENSE RECALLING FROM THREE BANKS – DORIN DRAGUTANU

Since licenses were recalled from the Banca de Economii, Banca Sociala and Unibank, the National Bank of Moldova (NBM) administrators managed to recover 600 million lei from the credit of 14.2 billion lei.

In an interview to Infotag, NBM President Dorin Dragutanu said that currently, the sum of the credit, provided to the three banks, lowered to 13.6 billion lei.

“These credit resources in the NBM balance will be replaced by state securities and the state will be redeeming these”, the NBM President said.

Asked about the chances that these securities may be bought by foreign investors, the NBM head said “I do not think that someone will want to buy these securities in the next 5 years”.

“However, in future, when the situation in Moldovan economy improves, they may be bought by foreign investors, in particular, banks, and even international investors”, he said.

The NBM President maintains that it is necessary to establish the minimum revenue on these securities.

“The yield is necessary so that the NBM not to suffer losses, lowering its capital. On the other hand, the yield rate on these securities should not exert an excessive pressure on the budget”, said the banker, adding that an optimal yield rate would be 5%.

According to him, later this rate can be revised.

“But this is already the matter of next years, while now we have to replace the credit by state securities, which will allow achieving the main goal – to preserve the NBM capitalization”, Dragutanu said.