Mobiasbanca’s loan portfolio rose over 50% in 2006

The loan portfolio of “Mobiasbanca” Commercial Bank, a component of the French Group Societe Generale (SG), increased in 2006 by 50.2%, compared to last year. Concurrently, the growth rate of total assets represented 38.1%. These data were made public on Tuesday, April 24, at a news conference organised after the General Assembly of Bank’s Shareholders, Info-Prim Neo reports. According to Mobiasbanca’s president Nicolae Dorin, last year the Bank made good progresses and it is one the top five largest banks in Moldova. The improvement of bank’s image, qualitative servicing of individuals together with offering a wide range of products have determined a 60.8% increase in savings by individuals. At the same time, Dorin mentioned other performances of “Mobiasbanca”, as 8.56% increase in the market share, growth rate of 38.1% of the total assets that reached 1950.1 mln lei by the end of the year. Nicolae Dorin said that at the end of 2006 the resources attracted by “Mobiasbanca” represented MDL 1683.4, registering a higher annual growth rate (406%) in comparison to the average in the banking system (25.8%). Another progress registered last year is that the Bank continued its cooperation with the international financial institutions, investing these resources in profitable projects. At the same time, “Mobiasbanca” signed contracts with a number of international financial institutions, for instance, agreements with the European Fund for South East– EUR 2.5 mln and Development Finance Company – EUR 4 mln. President of the Bank’s Administration Council Jean-Francois Myard told the same conference that the future plan is to gradually integrate “Mobiasbanca” into SG, in order to adapt it to its standards. Its integration will be performed in different fields, such as principles of organisation, HR policy, crediting, risks, informational systems, interaction with SG system, advertising. At the same time, Myard says, special attention will be paid to commercial activity on expanding crediting, mortgage, development of deposits, implementation of new products. Referring to the Bank’s clients, Myard stated that the bank will further focus on small and medium-sized businesses and individuals. Myard thinks that long-term loans could be provided as well and that the large clients of SG in France could be interested in investing in Moldova. Companies like “Lafarge” and “Orange” are SG clients, which are already operating in Moldova. Myard does not exclude that these large firms could become clients of “Mobiasbanca”.