Quality of loan portfolio worsened insignificantly in first half, NBM

Eleven banks licensed by the National Bank of Moldova (NBM) worked in Moldova on June 30, 2020. The first half witnessed a rise in the own funds and in assets, in the credit portfolio and deposits of private individuals and legal entities. The banking sector had a high level of liquidity. The quality of the loan portfolio worsened insignificantly in the first half, while the profit made in the first six months of this year decreased compared with the corresponding period last year, shows a NBM report that is quoted by IPN.

The total assets were 94.7 billion lei, up 4.6% (4.1bn lei) on the first half of 2019. The gross loan balance was 43.9% of the total assets or 41.5 billion lei, up 2.8% (1.1bn lei). The volume of new loans released in the first half of this year was by 4.9% higher than in the corresponding period last year.

The volume of loans provided to the energy industry sector, for purchasing or building homes increased the most – by 57.8% (314.4m lei) and 9.15% (570.9m lei) respectively.

The volume of nonperforming (substandard, dubious and compromised) loans in the period rose by 0.25 percentage points to 8.7% on June 30, the given indicator varying from 3.3% to 20.1% depending on the bank.

The nonperforming loans in absolute value increased by 5.9% (201.0m lei) to 3.6bn lei.

The volume of expired loans grew from 4.8% to 5.8% due to the overdue payments of debtors.

The commercial bank “Energbank” SA was supervised under an early intervention regime imposed on November 11, 2019 following the identification of the concerted actions of a group of persons who purchased a majority holding of 52.55% in the bank’s share capital without obtaining the preliminary written consent of the NBM.

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