National Bank of Moldova revokes activity licenses of three banks

Chisinau, 16 October /MOLDPRES/- The National Bank of Moldova (BNM) today ruled to revoke the activity licenses of Banca de Economii (Savings Bank), Banca Sociala (Social Bank) and Unibank commercial bank, due to their insolvency and other infringements of the current legislation. BNM initiated their forced liquidation, in compliance with the provisions of the law on financial institutions.

In a press release, BNM states that a decision of its executive committee provides for the appointment of Grigorii Olaru as liquidator of Banca de Economii, Sergiu Berghie as liquidator of Banca Sociala and Ruslan Grate as liquidator of Unibank. All of them are BNM employees.

The press release also says that “BNM and liquidators will continue to actively cooperate with Moldovan law-enforcement bodies during ongoing inquiries, as well as with representatives of the Kroll and Steptoe & Johnson LLP consortium, to identify the organizers and final beneficiaries of the suspicious financial transactions and recover the embezzled assets of the three banks."

According to BNM, the transfer of the three banks’ time and demand deposits of private people and legal entities to other banks had ended. Starting from 19 October 2015, depositors will be able to retrieve their money from other Moldovan banks, with which they have signed a contract. 

Information on the banks that took over the deposits may be found on the BNM official website and at the headquarters of the banks undergoing liquidation.

(Editor L. Alcaza)