July 17 (SeeNews) - Moldova's central bank said that it has extended the deadline for the sale of a 63.89% stake in Moldindconbank, the country's second largest bank.
Also, the central bank decided to extend the term of office of the temporary administrators of Moldindconbank by a further three months starting July 20, it said in a press release on Monday.
This is the second time Moldova's central bank, BNM, is extending the mandate of the temporary administrators of Moldindconbank.
Moldindconbank is operating normally, providing all services, including those related to deposits, lending and settlement operations, BNM said.
BNM appointed administrators at Moldindconbank in October 2016, after finding out that a group of persons had acquired and held a substantial portion of 63.89% of the bank's share capital without its permission, thus violating the provisions of the Financial Institutions Act.
The majority stake was seized in a criminal case and then put up for sale.
The after-tax profit of Moldindconbank rose 12% on the year to 262.9 million lei ($15.8 million/ 13.5 million euro) in January-May, according to BNM data. Its assets totalled15.33 billion lei at the end of May, making it Moldova's second largest bank by assets.
Eleven commercial banks operated in the country of 3 million people as at the end of May. Their after-tax profit totalled 734 million lei at the end of May, up 8.5% year-on-year.
(1 euro= 19.395 Moldovan lei)
Moldindconbank SA is among the biggest banks in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here