Moldindconbank

As Moldavia’s economy picked up and enjoyed increased industrial production and GDP growth during 2000, competition in the banking sector intensified and margins fell as consolidation accelerated. In this challenging environment Moldindconbank, the country’s fourth largest bank by assets and capital, which caters primarily to industrial and construction companies, per-formed strongly in key banking areas. Profit soared more than 50% against 1999 to Mlei 23.7 million. Authorized capital grew 33% entitling the bank to receive a grade C license enabling it to engage in all types of banking activities. Additionally balance sheet currency reserves grew 44% while the lending portfolio jumped 58%. The growth of assets was made possible by increasing customer deposits 40% and using resources provided by international financial organizations.

In line with its intended objective of becoming a Universal bank, Molindconbank is constantly broadening its range of services and products. Currently the bank offers: securities trading, investment services and advice, retail deposit services, e-banking and credit facilities including those via credit lines of international institutions such as the EBRD, World Bank and the IFC. Further ancillary services include import/export documentation, multi-currency banking accounts, Western Union and SWIFT money transfers, VISA and Master Card payment transactions. Soon Moldindconbank plans to initiate services in international factoring, Treasury products, insurance and commercial lease financing.

In addition to continued efforts to expand it’s customer profile and client base of the institution, Moldindconbank is committed to respond to the changing needs of existing customers, which include most of the country’s construction entities, numerous transportation companies, the Moldavian Railways and the cell phone operator MOLDCELL. The bank also has significant client interests in the agricultural, production and processing sectors, with trading companies and a number of individual customers.

As the Moldavian economy further stabilizes and benefits from the long transition process to a free-market economy, Moldindconbank will continue to broaden and improve the quality of services offered and expand operations wherever reliable and promising opportunity presents itself. The bank welcomes interest from financial institutions and clients who seek a reliable, professional and successful partner in Moldova.

For further information
Mrs. Anna Gheorghiu
Chairperson
Moldindconbank
Tel: +373 2 22 55 21, 54 64 01
Fax: +373 2 22 55 21