This document features a detailed analysis of the shareholders of Moldovan banks, producing a rating of transparency and shareholders’ quality.
According to the analysis, only four banks (out of 11), exceed the 7 points’ ceiling – whereas a lower score shows risks for banks’ corporate governance and transparency. Therefore, the banks with the highest transparency and shareholders’ quality are: Mobiasbanca – Groupe Societe Generale, ProCredit Bank, BCR Chisinau and Eximbank – Gruppo Veneto Banca. Interestingly though, these are the only banking institutions where the majority of stakes are held by international groups, being funded by parent banks or financial institutions based in UE.
Meanwhile, the other seven banks face serious problems in terms of transparency and quality of their shareholders, whereas the most serious problems are being observed at EuroCreditBank, Energbank, Moldindconbank and Moldova-Agroindbank (the latter two being the market leaders)
See below the rating (1 – minimum score, 10 –maximum score)
|1.||B.C. „Mobiasbanca - Groupe Societe Generale” S.A.||9.12|
|2.||B.C. „ProCredit Bank” S.A.||9,10|
|3.||BCR Chisinau S.A.||9,00|
|4.||B.C. „Eximbank - Gruppo Veneto Banca” S.A.||8,00|
|5.||B.C. „FinComBank” S.A.||6,22|
|6.||B.C. „Victoriabank” S.A.||6,10|
|7.||B.C. „Comertbank” S.A.||4,60|
|8.||B.C. „EuroCreditBank” S.A.||3,89|
|9.||B.C. „Energbank” S.A.||3,77|
|10.||B.C. „Moldindconbank” S.A.||3,63|
|11.||B.C. „Moldova - Agroindbank” S.A.||3,48|
Source: Calculation of the authors based on information available on banks' websites
It is worth noting that this rating does not reflect the solvency and financial stability of these bans, but only refers to the structure of the final beneficiaries of the shares, which were analysed in light of two perception indicators: (i) transparency; and (ii) financial strength. For more information of methodology please access the analysis (in Romanian).