Parliament conducts hearing of National Bank of Moldova governor

Chisinau, 7 May /MOLDPRES/ - The parliament today heard National Bank of Moldova (BNM) Governor Dorin Dragutanu regarding the situation of the Savings Bank (Banca de Economii), Social Bank (Banca Sociala) and Unibank.

According to Dragutanu, BNM estimated the losses related to the activity of these three banks amount to about 13 billion lei. "This is the gross amount and does not include the potential recoveries from loans, amounts that can be recovered from guarantees and the probable recoveries following investigations by the authorities and the National Bank", said Dragutanu.

The BNM governor added that the money was taken from the banks by granting loans, and when the special administration was established on the three banks, they still had 2.7 billion lei.

Dorin Dragutanu also said that the central bank conducted an estimate of the necessary capitalisation of the Savings Bank and forwarded that information to the government. At the same time, BNM intends to procure a risk management system. Through this system, all the information about credits in Moldova will be reported at a higher frequency and will be automatically processed, thus fasterdetecting any diversion from the loan portfolios of the banks.

The parliament today is hearing more high-ranking officials on the enforcement of the decisions adopted by the MPs following the presentation of the report by the parliamentary committee of inquiry into the situation on the currency financial market.

(Reporter C. Russu, Editor M. Jantovan)