Banca de Economii was transferred back under state property based on a decision of the Supreme Court of Justice, the governor of the National Bank of Moldova Dorin Dragutanu announced in a press briefing on December 1, IPN reports.

“More details will be available after the publication of the Supreme Court of Justice’s decision concerning the annulment of the decision to increase the registered capital of Banca de Economii of August 2013. What is important is that the state owns again the majority holding of 56.13% in Banca de Economii,” stated the governor.

Thus, the National Bank of Moldova had to intervene promptly and to take over Banca de Economii until a new administration board is named. According to the governor, it is a normal procedure that is designed to protect Banca de Economii and its depositors.