National Bank Governor: Moldovan banks are resilient to all shocks

Moldovan banks are resilient to all shocks. This has been seen in the pandemic and post-pandemic period. When there were the first shocks of the war in Ukraine, the banks coped and ensured financial stability, said NBM Governor Octavian Armașu during a round of media questions, writes

The governor says he does not see why the Ukrainian war would worry foreign investors in Moldovan banks. “Moreover, this gives them the comfort that they have made a good investment and the Moldovan banks are efficient.”

“One thing we expect is that banks will continue to raise interest rates on deposits. So that people can keep the money in the banks and make more savings “, pointed out Armașu.

The latest data from the National Bank of Moldova show that in the first two months of the year the 11 financial institutions accounted for a profit of 496.2 million lei, twice as much compared to the similar period of the previous year.

The bankers had the highest earnings from interest income – 1 billion lei. Revenues from fees and commissions – 405 million lei. The exchange rate differences brought the banks revenues in the amount of 227 million lei.

The four systemic banks had the highest profit. It is about maib – 132 million lei compared to 83 million lei, Moldindconbank – 120 million lei compared to 78 million lei, Victoriabank – 97.3 million lei compared to 23.4 million lei and OTP Bank with a profit of 64 million lei, 17% higher.

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