National Bank of Moldova appoints temporary manager with member powers of commercial bank's board

Chisinau, 03 February /MOLDPRES/ – The Executive Board of the National Bank of Moldova (BNM) appointed, on 02 February, Sorin Andrei, a Romanian citizen, as temporary administrator with competences of the Council of BC "Moldindcondbank" SA, the National Bank of Moldova’s press service has reported.

The decision was taken after Nicolae Dorin’s mandate, who is president of the Association of Banks of Moldova, expired and the term on which it was given by this organization for combining the functions of a temporary administrator could not be extended.

A press release of the National Bank states that "Sorin Andrei has extensive experience in banking, working previously as executive branch, regional director-corporate BCR SA (Romania), Vice-President and Chairman of the Board of BCR Chisinau SA".

The temporary administrators were appointed to the early intervention system in BC "Moldindconbank" SA. It was applied following the establishment by BNM on 20 October 2016, the concerted activity of a group of people who held a significant interest in the bank's capital in the amount of 63.89 per cent, without the permission of the National Bank.

BC "Moldindcondbank" SA operates in standard and provides all services, including those related to operations with deposits, lending and settlement.