The Executive Board of the National Bank of Moldova imposed a fine of almost 1 million lei on a direct and indirect holder of a substantial share of the capital of the commercial bank Victoriabank, IPN reports.

In a press release, the National Bank of Moldova says the fine was imposed for the non-fulfillment of the requirements stipulated by the Law on Financial Institutions, concerning the presentation of the information and documents required by the central bank for supervising and assessing the quality of bank ownership.

Contacted by IPN, Rodica Teleuca, spokeswoman for the National Bank, said the shareholder has ten working days to pay the fine into the state budget or measures will be taken to confiscate the shareholding.