Only four banks in Moldova of the 11 analyzed passed the risk ceiling as regards share ownership transparency. The independent think tank “Expert-Grup” made public the bank share ownership transparency and quality rating, IPN reports.
According to the rating, Mobiasbanca – Groupe Société Générale, ProCredit Bank, BCR Chisinau and Eximbank – Gruppo Veneto Banca ensure the highest share ownership transparency and quality. “Expert-Grup” said these are the only banks with majority foreign capital, founded by mother banks or financial groups from the EU.
The other seven banks face big problems related to transparency and quality of the final beneficiaries of shares. The most serious problems in this regard are experienced by EuroCreditBank, Energbank, Moldindconbank and Moldova Agroindbank, which scored less than four of ten.
“Expert-Grup” economist and analysis author Dumitru Pintea said the low share ownership transparency and quality are one of the main vulnerability of the Moldovan banks. This problem often undermined the corporate governance of banks. This led to the accumulation of toxic assets in the system and even the bankruptcy of three important banks (Banca de Economii, Banca Sociala and Unibank),” he stated.
He added that the share ownership transparency and quality should be increased so as to overcome the current banking crisis in Moldova.
“Expert-Grup” noted that the rating refers not to the solvability and financial stability of the commercial banks, but only to the composition of the final beneficiaries of bank shares, which were analyzed through two perception indicators – transparency and financial power.
