The Executive Committee of the National Bank of Moldova decided to impose a penalty consisting in warning on BC EuroCreditBank SA. The decision was taken as a result of a thorough inspection carried out at this bank during which a series of legislative violations were identified, IPN reports.
In a press release, the National Bank says there were discovered violations of the Law on Financial Institutions, the regulations issued by the National Bank of Moldova and the Law on the prevention and combating of money laundering and terrorism financing. In particular, the bank didn’t respect the prudential requirements concerning lending activity, risk concentration, classification of assets, bank ownership transparency, etc.
According to the National Bank, BC EuroCreditBank SA works in a normal regime and provides the whole range of services, including those related to lending and depositing.
