BULGARIAN COMPANY SIGNS AGREEMENT ON BUYING MICB SHARES

The Doverie Holding AD (Bulgaria) signed agreement with the Public Property Agency (PPA) on buying 63.89% of Moldindconbank shares Moldova has put for sale for the period of February 18 through 22.

According to the Bulgaria Stock Exchange announcement, the price of Moldovan bank shares worth 239.5 lei per share with nominal value of 100 lei was established by an international audit company. The MICB governance selected the company within a tender, conducted in accordance with the new law on banking activity, which entered into force on January 1, 2018.

In total, the Bulgarian investor will pay 760.156 million lei. Such a price of selling this asset means that it is sold with equity multiplier of 0.46, which is higher than the equivalent rate at selling by the PPA of 41.09% shares in the Moldova Agroindbank (MAIB) to a consortium of foreign investors, including the European Bank for Reconstruction and Development (EBRD).

Experts point at National Bank of Moldova's success in his fight for transparency of shareholders in Moldovan systemic banks, which is being conducted since 2016.

"After the completion of transactions with large packages of share in Mobiasbanca and MICB, four banks in Moldova with the market share of 80% will be controlled by transparent shareholders: the EBRD, the OTP Group, the Banca Transilvania, the Doverie Holding, the US and Lithuania investment funds", said the Infotag interviewees.

They pointed at the fact that these shareholders meet the Basel-III recommendations, the key requirement of which to stockholders is the readiness to provide help and support to their bank.

Before, Prime Minister Pavel Filip at the meeting with representatives of the Doverie Holding AD Fund in Chisinau stated that the coming of a new investor to the Moldovan banking market is a proof that Government's actions on recovering the financial market give positive results, while the banking sector becomes more and more attractive for potential investors.

Infotag's dossier: In 2018, the Moldindconbank got net profit worth 500.3 million lei, achieving the highest rate in the entire banking system in terms of the return on equity (ROE) and the return on assets (ROA). Its personal capital accounts for 2.58 billion lei.