The National Bank of Moldova said it received no notification from Société Générale as to its intentions to sell its branch in Moldova BC “Mobiasbanca” SA, as a Bulgarian news portal said, IPN reports.

In a posting on Facebook, the National Bank of Moldova said BC “Mobiasbanca” SA respects all the prudential requirements and any change in the ownership of licensed banks can take place only with the preliminary consent of the National Bank of Moldova, whose goal is to ensure transparency, quality and the financial solidity of shareholders and lending institutions.

According to the news portal EUSCOOP, the French bank Société Générale is pulling their business out of Central and Eastern Europe, namely from Bulgaria, Albania, Macedonia, Montenegro, Serbia and Moldova. Société Générale decided to focus on other parts of their business and sell their shares in the aforementioned regions. SG isn’t content with their position on these markets, as they aren’t leaders in the region. Also, these markets are oversaturated and unattractive at the moment.