Increase in prices of bank shares due to new investors on the market. Analysis by Info-Prim Neo

The increase in the prices of bank shares in Moldova is generated by new investors on the market. As a result, the prices of Moldova’s bank shares could equal within at least a year the prices of the banks in the neighbouring countries, Natan Garstea, the manager of the Rating and Estimation Agency “Estimator-VM”, told Info-Prim Neo. Stock indicators shows that the prices of the shares of the Romania Stock Exchange were traded up to some time ago at quotes by 7-11 times higher than in Moldova, the expert specified. “Within 1-2 years at the most, the situation in Moldova could change and the price of the stocks and shares of Moldova’s banks could reach values similar to the Romanian ones. This fact will also depend on Moldova’s basic policies and on how soon the country will come closer to the European Union”, Garstea emphasised. Although he couldn’t tell the identity of the new players on the market, this fact being treated as a commercial secret, Natan Garstea mentioned that he refers to European investors, both companies and natural persons. According to him, “in their search for new markets, those who have invested so far in Romania’s banking stocks and shares, have reoriented their investments to the banking market of Moldova”. The increase in the prices of the bank shares is now specific to the shares of all banks holding free-float shares. They are “Moldova Agroindbank”, “Banca Sociala” (Social Bank), “Victoriabank”, “Investprivatbank”, “Moldinconbank”, etc. Lacking a special analysis, the expert couldn’t forecast exactly the increase in the prices, but he said that “the process has started and the prices will continue to grow”. Natan Garstea furter stated that the situation of the Moldova Stock Exchange is calm and no ‘fight’ for the shares has been registered”. At present, the increase in the prices of the banking shares will not influence on the banks’ activity, which might change when large stocks are bought and the ownership changes, like it happened with Unibank, Mobiasbanca, Eximbank, who have consolidated stocks and only one stockholder. On August 7, only one day after hitting a record 2000 lei/share, the price of the shares of the Commercial Bank “Moldova-Agroindbank” soared to 2135 lei. Over the past month, the shares of Moldova’s largest bank surged over 650 lei. The shares of the Commercial Bank “Banca Sociala” (Social Bank) are being sold for 1300 lei, although not too long ago their cost was about 140 lei. The shares of the Commercial Bank “Victoriabank” are being sold for 321 lei/share as compared to 230 lei a month ago, Info-Prim Neo reports.