NBM EXTENDS MICB TEMPORARY ADMINISTRATORS’ MANDATES

National Bank of Moldova Executive Committee extended the mandates to temporary administrators appointed earlier to the Moldindconbank by 6 months starting from January 20.

As Infotag has already reported, the NBM introduced temporary administrators in MICB on October 20, 2016, after it has blocked 63.89% shares in this bank. The shares belonged to a group of stockholders who acted concertedly without regulator’s permit.

The NBM’s announcement says that the Moldindconbank is functioning in normal regime, including the providing of complete list of services, connected with deposits and credits.

According to the procedure, ordered by the NBM and the National Commission for Financial Market, the MICB has to conduct new issue of shares of 63.89% and sell it on the public market. The stakes may be bought by an investor who has permission from regulator.

Currently, the NBM is working on attracting strategic investors in three systemic banks – the Moldova Agroindbank, the Victoriabank and the MICB. On January 16, the Romania’s second largest bank – Banca Transilvania bought 39.2% of VB. MAIB and MICB packages of shares – 41.09% and 63.89% have not been sold so far, but their selling is planned for 2018. In case of complications with selling packages of shares in systemic banks, the Parliament adopted amendments to the legislation, which now allows the state to redeem the shares for their further selling to investors. The amendments also allow the fragmentation of packages, which would give the possibility to buy Moldovan bank assets to groups of investors.