The special surveillance instituted by the National Bank of Moldova at Moldova Agroindbank, Moldindconbank and Victoriabank will continue, the central bank’s governor Sergiu Cioclea stated at a press conference on May 5, IPN reports.
The governor noted that the diagnostic studies of the situation at the three banks that are under special surveillance were presented. “If I refer to the studies, the situation is different. There are also common problems such as the shareholder quality, loan portfolios and corporate governance,” he said.
According to Sergiu Cioclea, plans for each bank are now being worked out based on the diagnostic studies. A reform plan will be thought up for the common problems. “Intense work is done on these documents, together with the IMF and the World Bank. When the individual plans for each bank are finished as well as the reform strategy, we will make an announcement. Now I can say that the special surveillance will continue as long as necessary,” said the governor.
At the journalists’ request, the governor noted that it is not about a possible bankruptcy danger. It is just a special surveillance measure. “The National Bank of Moldova fulfills its role and supervises the situation in the banking sector. During the last few years, this role wasn’t appropriately fulfilled and we all saw how things developed,” stated Sergiu Cioclea.
As to Banca de Economie, Unibank and Banca Sociala, which are being liquidated, the governor said their assets are being sold and the process is not so smooth as buyers cannot be easier identified. The National Bank does not want the liquidation procedure to last for several years. About half a billion lei is yet to be recovered.
The National Bank instituted special surveillance at the three banks in June 2015. Initially, the measure was to last for three months, but this was later extended.
