The Executive Board of the National Bank of Moldova on January 11 adopted two decisions concerning BC “Banca de Finanţe şi Comerţ” S.A. and BC “Energbank” S.A. by which the rights of some of the shareholders of the two banks were suspended for concerted activity, without the prior written permission of the central bank, IPN reports.
It was established that a group of shareholders of BC “Banca de Finanţe şi Comerţ” S.A. acquired and hold a qualifying holding in the bank’s share capital, in the amount of 36.15 percent, without the prior written permission of the National Bank of Moldova. Thus, provisions of the Law on Bank Activity were violated. Consequently, certain rights of these shareholders were suspended, namely: the right of voting, right of revocation and right of conducting the shareholders’ general meeting, right of introducing matters on the agenda, right of proposal and nomination of candidates for members of executive boards and right of receiving dividends. Following the NBM decision, these shareholders must dispose of the shares held in the bank’s share capital.
In case of BC “Energbank” S.A., the NBM Executive Board decided to suspend the exercise of certain rights with regard to 52.77 percent of shares. These shareholders must dispose of the shares held in the bank’s share capital. At the same time, taking into account the size of shareholding of more than 50 percent, in accordance with the Law on Bank Activity, the NBM decided to apply early intervention measures at this bank by appointing temporary administrators. The executive team and the bank’s board, which will remain the same, will be joined by the temporary administrators appointed by the NBM.
Both BC “Banca de Finanţe şi Comerţ” S.A. and BC “Energbank” S.A. will continue to operate as usual and will provide the full range of services, including those related to deposits, lending and settlement. Both banks are well capitalized, stable and solvent. BC “Banca de Finanţe şi Comerţ” S.A. holds 3.7 % of the total bank assets, while BC “Energbank” S.A. 3.2%. The NBM decisions refer exclusively to the ownership structure.
Similar measures to suspend the rights of shareholders were previously taken at other licensed banks of the Republic of Moldova, namely BC ”Moldova-Agroindbank” and BC „Moldindconbank” S.A.
