In recent years, thanks to the joint efforts of the Moldovan and Chinese governments, the scale of bilateral trade between the two countries has continued to expand, and the willingness for cooperation between enterprises on both sides has reached an unprecedented high! At the same time, a major piece of good news is that the free trade agreement between Moldova and China has also entered the final stage of negotiations! As a rising star in Europe with a year-on-year GDP growth of 4.5% for two consecutive years, Moldova's development prospects are highly regarded by the outside world! Numerous positive changes indicate that Chinese enterprises and individual investors entering Moldova are bound to see a major boom!
For investors, the operational status of Moldovan banks, which are involved in capital flow businesses, is certainly a topic of concern. Therefore, WorldWay, citing news from the Moldova Migration Center, provides an introduction to the development of Moldovan commercial banks and the banking industry, hoping to be of assistance to the vast number of investors!
In fact, in recent years, the Moldovan government has been committed to increasing transparency in the banking system. Recently, major news has emerged: Octavian Armasu, the Minister of Finance of Moldova, has been appointed as the new Governor of the Central Bank. He stated: The National Bank of Moldova will be committed to improving the transparency of ownership in banking operations and supervising the sale of equity in large lending institutions to foreign investors.
WorldWay has learned from the Moldova Migration Center that, according to data released by the National Bank of Moldova, there are currently 14 banks officially registered with the National Bank of Moldova. In accordance with relevant agreements with the IMF, the Leu is a freely convertible currency under the current account, and the National Bank of Moldova determines the exchange rate based on the situation in the interbank market. All commercial banks in Moldova carry out internationally accepted commercial banking operations, including local and foreign currency deposits and loans, international trade settlement, and commercial guarantees!
National Bank of Moldova
The National Bank of Moldova (NBM) was established on June 4, 1991, by a decree of the President of the Republic of Moldova, and has a history of 28 years. The main objective of the National Bank of Moldova is to achieve and maintain price stability.
According to current Moldovan laws, the National Bank of Moldova is responsible for supervising commercial banking operations and formulating rules and detailed regulations for the operation of commercial banks. Currently, the regulations formulated by the National Bank of Moldova regarding commercial banks are the "Law on the National Bank" and the "Law on Financial Institutions and the National Bank". According to the "Law on Financial Institutions", the National Bank of Moldova issues licenses for corresponding operational scales based on the total level of standard capital of commercial banks.
The Four Major Banks of Moldova
1. Mobiasbanca (Société Générale Group)
The history of Mobiasbanca began on July 4, 1990, when entrepreneurs with professional experience in the financial and banking fields initiated the founding of an independent bank as a limited liability company. The bank initially focused its business on the SME sector and transformed into a joint-stock company in 1996. It is worth mentioning that Mobiasbanca has promoted the internationalization of the Moldovan banking industry. As one of the three major French banking giants, Société Générale entered China as early as 1981 and opened multiple branches.
Shareholding ratio: In 2008, Société Générale became the largest holding company of the bank with 67.85%.
Number of customers: 149,000
Total assets: 9.015 billion LEI (approximately 456 million EUR)
Market share: 12.71% market share in Moldova
Branch distribution: 10 branches in the center of Chișinău (the capital), 8 branches in the Botanica district, 6 branches in the Buiucani district, 3 branches in the Ciocana district, and 5 branches in the Rascani district.
2. Moldova MAIB (Moldova Agroindbank)
BC Moldova Agroindbank SA was established on May 8, 1991. MAIB focuses on openness, mutual trust, honest treatment of customers, and emphasizes product quality and service. Currently, Moldova Agroindbank is considered the pillar of the banking system of the Republic of Moldova and occupies the top position in terms of the number of loans and deposits for individuals.
Shareholding ratio: The largest shareholder is the BERD BANK (European Bank for Reconstruction and Development) with 41.9% (held by a consortium).
Number of customers: 770,000
Total assets: 22.193 billion LEI (approximately 1.12 billion EUR)
Market share: 27.9% market share in Moldova
Branch distribution: 66 branches nationwide, 115 sub-branches nationwide, 255 ATMs nationwide, and 4,326 POS terminals nationwide.
3. Moldova MOLDINDCON Bank (Moldova Industrial and Construction Bank)
Moldindconbank began operations on July 1, 1959, as the former Soviet Stroibank holding bank, which was a major business subsidiary for financing industrial construction, energy companies, and public transport. On October 25, 1991, according to the decision of the Constituent Assembly, the bank was reorganized into the Moldovan commercial bank "Moldindconbank". It optimized its business regarding the range of financial products and services for the industrial and construction sectors, making the bank a more market-oriented financial service institution capable of providing customers with a full range of financial services.
Shareholding ratio: Joint-stock institution, individuals, and group companies from Ukraine and former Soviet countries.
Number of customers: 630,000
Total assets: 15.2 billion LEI (approximately 770 million EUR)
Market share: 19.05% market share in Moldova
Branch distribution: 194 branches and sub-branches nationwide, 54 ATMs nationwide.
4. Moldova VICTORIA Bank (Moldova's First Commercial Bank)
"Victoriabank" S.A. is the first commercial bank in Moldova, established in 1989 and located in Chișinău. In terms of asset value, it is one of the top three banks in the Republic of Moldova.
Shareholding ratio: Banca Transilvania (BT ABNK) of Romania and the BERD BANK (European Bank for Reconstruction and Development) with 72.19%.
Number of customers: 570,000
Total assets: 14.5 billion LEI (approximately 732 million EUR)
Market share: 18.22% market share in Moldova
Branch distribution: 92 branches and sub-branches nationwide, 175 ATMs nationwide, and 4,026 POS terminals nationwide.
In recent years, the Moldovan government has continued to improve the investment environment. According to the "Doing Business 2019" report released by the World Bank, Moldova has entered the top 50 globally for 3 consecutive years! At the same time, the fundamental point of Moldova's foreign policy is to prioritize integration into Europe, attach importance to developing relations with Europe and the United States, and gradually move closer to the European Union! In addition, Moldova has signed tax agreements with 48 countries including China, Greece, Malta, and Spain, which marks that investors will avoid double taxation when doing business and investing within Moldova, which is undoubtedly another huge benefit!
WorldWay immigration experts stated that Moldova has just opened its immigration policy. As a high-quality potential stock for European investment, the Moldova Citizenship by Investment Program has relatively loose application conditions. Investing at this time is a good choice. If the Moldovan passport is upgraded to an EU passport in the future, it will be a better return!
Recently, the Moldova Citizenship by Investment Program, which combines many unique advantages, was strongly selected as one of the "Top Ten Immigration Events of 2018" and topped the list, attracting widespread attention from domestic and foreign media and the industry! As the first fast-track passport program in a continental European country, it only requires an investment starting from 100,000 EUR, with approval in about 90 days, allowing the whole family of three generations to quickly obtain a European country's passport, meeting your many needs such as asset allocation, identity planning, tax planning, and children's education planning. It is one of the very good choices!
Since the opening of the immigration policy in Moldova in November 2018, WorldWay has actively introduced the "Moldova Citizenship by Investment Program" to China, becoming one of the immigration agencies promoting this project in China! With the landing of the Moldova Citizenship by Investment Program in China, and its rapid spread and popularity, Moldova has become an investment destination that everyone yearns for!
Unique advantages of the Moldova Citizenship by Investment Program, not to be missed!
1. High cost-performance fast-track passport program: Caribbean island nation price, continental European citizenship;
2. Tax-friendly continental European country passport: Low tax system, no tax on foreign income, inheritance tax, or gift tax;
3. Moldova is a non-offshore financial country, highly recognized by financial institutions. The Moldovan passport is the preferred continental European country passport for business people;
4. A continental European country passport that can apply for the US E-2 visa;
5. Travel convenience: Visa-free access to 122 countries and regions, including Schengen countries, Russia, Turkey, etc.;
6. Those who meet the relevant regulations can enjoy exemption from written examinations for admission to prestigious domestic universities as overseas Chinese;
7. A superior choice for identity planning for business, investment, shareholding, and asset allocation.
Seize the opportunity of the golden decade of European investment! Moldova Citizenship by Investment Program, consultation hotline: 400-138-2929