The National Bank of Moldova (NBM) lifted the early intervention regime imposed at the commercial bank Energbank SA in four years of its institution. A decision to this effect was adopted by a unanimous vote by the Executive Board of the NBM, IPN reports.

As from January 20, Energbank works as an independent entity under a normal regime, with the statutory executive bodies being fully functional. The bank’s Administrative Board became functional on October 25, while the Bank’s Board on January 19.

The early intervention regime was instituted on January 11, 2019 following the ascertaining of the concerted activities of a group of persons who owned 52.55% of the bank’s share capital without obtaining the NBM’s mandatory consent beforehand.

Under the early intervention regime, the assets of Energbank grew by 147.2 million lei or 5.5% compared with the end of 2018, on December 31, 2022 totaling 2.838,5 billion lei. The volume of nonperforming loans decreased by 18.3 million lei or 16.7% against the end of 2021 and by 72.6 million lei or 44.7% against the end of 2018. The bank’s net profit on December 31, 2022 was 101.4 million lei, up 49.5 million lei or 98.8% compared with the end of 2021.

The NBM also said that the purchase by AS IuteCredit Europe of a less than 50% shareholding in BC Energbank SA was authorized at the end of 2021, IuteCredit Europe becoming this the majority shareholder of this bank.