Premier hopeful situation at Banca de Economii can be remedied

Prime Minister Vlad Filat is optimistic that the situation at Banca de Economii (BEM) of Moldova (Savings Bank) can be remedied. “The BEM has an increased level of liquidity. The measures approved by the bank’s Board should be fulfilled. This will enable the BEM to improve the financial indicators, to make profit and to ensure better protection for the shareholders,” the Premier said when answering journalists’ questions, Info-Prim Neo reports. The BEM earlier issued a communiqué, saying problems appeared owing to the high number of delinquent loans granted in 2010, 2011 and the first half of 2012. Vlad Filat stressed the necessity of penalizing the bank’s executives whose decisions led to the accumulation of delinquent loans and to other abuses that point to fraudulent management. “The BEM started to encounter problems earlier, when the debt of 400 million lei of the insolvent bank Investprivatbank was made the bank’s responsibility. The bank had to pay this money to the depositors - private individuals. There were also other attempts that haven’t been made public,” he stated. According to the communiqué from the BNM, among the steps that are to be taken by the new Board are to collect the overdue payments on the loans, to step up the sale of sequestrated property, and to increase the bank’s registered capital so as to recapitalize the BEM.