It is with serious concern that the European Bank for Reconstruction and Development (EBRD) has learned about the indictment issued by Moldova’s Anticorruption Prosecutor’s Office against Victoriabank and the recent court warrant authorizing the Anticorruption Prosecutor’s Office to seize assets of Victoriabank in connection with the investigation of fraudulent activities in the Moldovan banking sector in 2014, IPN reports.
In a press release, the EBRD says that as a shareholder in Victoriabank it welcomes the bank’s cooperation with the Moldovan authorities in their investigation of activities which occurred before Banca Transilvania became a shareholder in January 2018 and the transparency of Victoriabank’s shareholding was restored.
The EBRD trusts that the investigation will respect clients and customers of Victoriabank as well as its current shareholders, and be carried out in accordance with due process and due consideration of potential consequences for the Moldovan banking system.
“As the largest institutional investor in Moldova, the EBRD regards a strong and stable banking sector a prerequisite of financial stability and as one of the pillars of sustained economic development and growth. Delivering on its mandate the EBRD has played an active role in the overhaul of Victoriabank since 2016 and remains a shareholder in the institution, which is now majority-controlled by Banca Transilvania and the EBRD,” runs the press release.
The EBRD noted that today, Victoriabank is a strong financial institution, managed according to high corporate governance standards and working to the benefit of the Moldovan people, businesses and the economy. The bank serves corporate as well as retail clients and has established a strong bond of confidence and trust that is essential for the successful operations of any banking sector.
The Prosecutor General’s Office said 1.9 bn lei assets of the commercial bank, which is featured in the case concerning the banking fraud, were sequestrated with the aim of repairing the damage caused by laundering money in the interests of an organized criminal group and by abuse of power. The assets could be eventually confiscated for the benefit of the state.
