The National Bank of Moldova lifted the early intervention regime of the B.C. “ENERGBANK” S.A.

With a unanimous vote, the executive committee of the National Bank of Moldova decided to lift the early intervention regime of B.C. “ENERGBANK” S.A. The early intervention regime was instituted in B.C. “ENERGBANK” S.A. on 11.01.2019, following the finding of the concerted activity of a group of persons who had a qualified holding of 52.55 percent of the bank’s share capital, without having the mandatory prior approval of the National Bank of Moldova.

The decision was taken with the approval, on January 19, 2023, of a new member of the B.C. Council. “ENERGBANK” S.A. and, consequently, restoring the functionality of the Bank’s Council and Management Committee by ensuring the necessary quorum for holding meetings and making decisions according to the normative acts and internal acts of B.C. “ENERGBANK” S.A.

Thus, from 20.01.2023 B.C. “ENERGBANK” S.A. resumes its independent activity in normal mode, the functionality of the statutory management bodies being restored. The Management Committee of the bank became functional from 25.10.2022, and the Council of the bank from 19.01.2023.

During the early intervention period, the assets of the B.C. “ENERGBANK” S.A. increased by 147.2 million lei or by 5.5 percent compared to the end of 2018, as of 31.12.2022, constituting 2,838.5 million lei. At the same time, non-performing loans recorded a decrease of 18.3 million lei or 16.7 percent compared to the end of 2021 and 72.6 million lei or 44.7 percent compared to the end of 2018 (on January 11, 2019 the early intervention regime being established). The bank’s net profit was 101.4 million lei (as of 31.12.2022), increasing compared to the end of 2021 by 98.8 percent or 49.5 million lei. Minu poolest võib selle ka eemaldada

The decision to lift the early intervention regime was determined by the fact that the bank perfected its internal normative acts and internal control system, increased the level of transparency of the shareholding, and achieved results complying with the supervisory measures prescribed by the National Bank regarding the activity of lending related to affiliated persons.

Thus, during the four years of early intervention, the administration and management of the bank’s activity were ensured in order to maintain the financial position of B.C. “ENERGBANK” S.A. and the adoption of legal measures to remedy the situation regarding the shareholding in order to ensure the holding in the bank’s capital by the persons who meet the requirements regarding the quality of the bank’s shareholding and in order to restore the healthy and prudent management of the bank’s activity.

At the end of 2021, the acquisition by AS “IuteCredit Europe” of the qualified holding in a size that reaches and exceeds the level of 50 percent of the share capital of B.C. “ENERGBANK” S.A., AS “IuteCredit Europe” becoming the majority shareholder of the bank.