NBM EXTENDS DEADLINE OF SELLING MICB SHARES

The National Bank of Moldova (NBM) postponed on Friday the deadline for selling a package of 63.89% newly-issued Moldindconbank shares for three months.

These papers are sold at a price of 235 lei per share, which accounts for approximately 0.57 of their balance cost.

Earlier, in interviews to Moldovan and foreign media, NBM President Octavian Armasu was saying that the most optimal and acceptable variant for this share issuer would be to seek an investor, which will buy such a large asset in Moldova's second largest bank.

The selling of 63.89% of Moldindconbank shares to a foreign investor, which will have a preliminary permit from the Moldovan regulator, will mean that the NBM and the Moldovan Government will have fulfilled one of the fundamentally important conditions in the International Monetary Fund Program, in particular the selling of large packages of shares of nontransparent shareholders in three systemic banks - Moldova Agroindbank, Victoriabank and Moldindconbank, whose total market share exceeds 60%.

The first two banks got new shareholders in 2018 - the European Bank for Reconstruction and Development (EBRD) and the Romania's second largest bank - Banca Transilvania.