Assets of Commercial Banks Grew by 31% in Moldova
OREANDA-NEWS. October 31, 2008. Over nine months of 2008, the assets of the commercial banks grew by 31% in comparison with the same period of the last year- up to 39,35 billion leis.
According to the National Bank of Moldova, the assets grew due to the increasing balance of deposits of population by 49.2% and financial leasing - by 36.15%. As of September 30, 2008, the balance of deposits of individuals amounted to 17.3 billion leis, and the volume of loans and financial leasing - 23.89 billion leis.
However, in January-September 2008, the volume of deposits of legal entities decreased by 11.52% as compared to the same period of 2007, reaching 5.8 billion leis. Over the first nine months of this year, TIER-I bank capital reached 6.42 billion leis, or 43.82% more than at the similar period of the last year.
According to NBM, since the beginning of the year undistributed profit of the banking system exceeded 4 billion leis or 43.8% more than in January-September 2007. Over the same period, the share of foreign institutions in the capital of the banks grew by 7.87 points as compared with the same period of the last year and amounted to 73.09% as of September 30, 2008. The average capital adequacy amounted to 30.8%, while the minimum necessary level makes 12%.