​MOBIASBANCA SHAREHOLDERS TO CONSIDER 2017 DIVIDEND PAYMENT

Shareholders of the Moldovan daughter of the French financial group Societe Generale – Mobiasbanca, will consider the issue of distributing the 2017 profit and the repayment of dividends at a joint shareholders meeting.

According to one of its shareholders, at the joint meeting, which was initially planned for April 27, but then was postponed to May 18, it is planned to consider 11 issues of the agenda. Among these – reports of the Bank Board and the Bank executive body on 2017financial results, the priorities of Mobiasbanca development in 2018, approving of new Regulations for the general meeting and the Bank Board, canceling of the Regulation on revision commission, election of Bank Board members, as well as the approval of an audit company and the size of its remuneration.

The Infotag interviewee said that the postponement of the general annual shareholders sitting is due to a new inspection in the bank, conducted by NBM representatives, as well as the request of a regulator’s permit to pay 2017 dividends to shareholders.

Asked about the permit, the shareholder supposed that if the issue of profit distribution was included in the May 18 sitting agenda, this means the regulator does not have objections against the profit distribution. Last week, Mobiasbanca was the only bank against which the NBM has no objections concerning the directing of 160 million lei (50% of the total 2016 profit) to be directed to payment of dividends to shareholders.

As Infotag has already reported, Mobiasbanca finished the 2017 with 270.49 million lei net profit after taxation. The bank assets accounted for 10.1 billion lei as of December 31, 2017, while the capital – 1.5 billion lei. In terms of profit size, the bank ranked the 4th largest among 11 Moldovan banks. Mobiasbanca also has system’s best return on assets – 2.63%. The rate of capital adequacy given the risks as of the end of 2017 accounted for 25.16%, which is slightly lower than the 2016 result, which was 31.26% at the normative of 16%.