Moldova Approves Sale of Moldindconbank to Bulgarian Investor

Moldova Approves Sale of Moldindconbank to Bulgarian Investor

Moldova's central bank BNM said that it has approved the sale of a 63.89% stake in the country's second-largest lender Moldindconbank (MICB) to Bulgarian fund Doverie United Holding. "The investor expresses his interest in an appropriate period for Moldindconbank, after the BNM decided by law, on 18 January 2019, to extend for the last three-month period the sale deadline of the newly issued shares of this bank. Thus, the sale of the single share package in the amount of 63.89% of the bank’s share capital, will take place for the benefit of the bank’s activity and its further development," BNM said in a press release on Tuesday evening. The takeover of the single share package by the investor will create conditions for an orderly leaving from the BNM early intervention regime, so that Moldindconbank is not to be affected. The bank will continue to operate in normal regime and provide the full range of services, including those related to deposits, lending and settlement operations.According to BNM, Doverie intends to come up to Moldindconbank with a team of managers with a broad international experience in the banking sector.

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