OREANDA-NEWS. November 19, 2010. Moldindconbank President Svetlana Banari said during the ceremony of signing of the credit agreement that the money is given for 7 years with the 2-year Grace Period (only the interest rate to be paid).

The money is meant to finance small and medium business enterprise. Svetlana Banari told that the money would be drawn as the demand from economic subjects for long-term money is high.

The FMO representative Steven Dujverman informed the InfoMarket Agency that the only restriction of the credit agreement is the fact that after 7 years, the amount of a credit is to be on average at most USD500 thousand. The interest rate on the credit is floating and is tied to Libor. The FMO credits in Moldova, in addition to Moldindconbank, the leasing company Total Leasing and the micro-finance company Microinvest.

The total investment portfolio in the FMO is valued at 4.6 billion euros placed among financial companies of the transition economies and developing states. Moldindconbank is the third biggest bank in Moldova. Its assets total 5,186.1 million leis; joint normative capital – 644.8 million leis; credit portfolio 3,017.2 million leis (the market share – 12%); deposits – 3,856.1 million leis (market share – 14%).