The executive committee of the National Bank of Moldova today lifted the special/intensive supervision imposed on Moldova-Agroindbank (MAIB) in 2015.
The NBM said in a press release that the decision reflects the central bank’s conclusion that the bank has met the ownership transparency requirement following the purchase of 41.09% of its stock by Heim Partners Limited, incorporated by a consortium of international investors that includes EBRD, Invalda INVL, and Horizon Capital.
As of March 21, MAIB is governed by a new board elected by the bank’s annual general assembly of shareholders of November 2018.
Over the last three years, MAIB has managed to increase its capital and profit. Moreover, its rate of nonperforming loans has improved, and the bank has fulfilled the measures ordered by the NBM as part of its redress plan.
Moldova-Agroindbank was placed under special supervision on 11 July 2015 following violations found by the National Bank. In October 2016 the special supervision was renamed intensive as part of legislative amendments to improve the overall situation in the banking sector.
