FOUR MOLDOVAN BANKS INCLUDED IN SEENEWS TOP 100 SEE BANKS

Four Moldovan banks at once – the Moldova Agroindbank (MAIB), the Moldindconbank, the Victoriabank and the Mobiasbanca – were included in the rating of Southeast Europe’s largest banks – the SeeNews Top 100 See Banks.

The rating was compiled by the international financial agency Seenews Business Intelligence for Southeast Europe on the basis of financial reports as of December 31, 2018. According to the rating, the MAIB – the Moldova’s largest financial institution – has improved its results by three positions since 2017, ranking the 64th (67th in 2017).

The bank concluded the 2018 with profit of 530.1 million lei. The MAIB assets accounted for 23.6 billion lei, while capital – 3.8 billion lei. By means of a wide network of 66 branch offices and 127 agencies, the bank is servicing almost 1 million clients.

The MICB improved its result by 4 positions, ranking the 79th (83rd in 2017). In 2018, the bank earned 500.3 million lei. Its assets reached 16.4 billion lei, while the capital – 2.5 billion lei. The bank has 63 branches and 131 agencies.

The Victoriabank climbed down three positions to 88th in 2018 from 85th in 2017. As of the end of the year, his profit accounted for 167.1 million lei, assets – 14.3 billion lei, while the capital – 2.41 billion lei. The bank has 34 branches and 59 agencies.

The Mobiasbanca was for the first time included in the rating, holding the 100th place. As of the end of 2018, its profit accounted for 301.1 million lei. The Mobiasbanca assets exceed 11 billion lei, capital – 1.6 billion lei. It has 53 branches and over 166 thousand active clients in Moldova.

In 2018 and 2019 the picture of Moldova’s banking market changed after coming of new strategic investors. The above-mentioned four systemic banks of Moldova, the shareholder composition changed. In 2018, the consortium of investors, made of the European Bank for Reconstruction and Development (EBRD), Invalda INVL and Horizon Capital, bought 41.09% of the Moldova Agroindbank (MAIB). The Banca Transilvania (Romania) and the EBRD became major stockholders in the Victoriabank. The Hungary’s largest bank OTP Bank Nyrt bought over 96% Mobiasbanca shares, while the Doverie United-Holding (Bulgaria) bought 63.89% of MICB. By the end of 2019, over 70% assets of Moldova’s banking system were administrated by well-known international companies.