The National Bank compiled the data for October of “Banca de Economii” SA, BC “Unibank” SA and BC “Banca Sociala” SA regarding the receipts of these banks undergoing liquidation and the payments carried out to the Ministry of Finance. This, on 31 October this year, the total cumulative repayments for the emergency credit constituted MDL 1,713.4 million. 

National Bank of Moldova makes available certain available information on emergency loans used by Banca de Economii S.A., BC "BANCA SOCIALĂ" S.A. and B.C. "UNIBANK" S.A. and on the recovery of funds by these banks during special administration and liquidation processes.

In the context of actions prior to the liquidation of Banca de Economii S.A., BC „Banca Socială” S.A. și B.C. ,,UNIBANK” S.A., the deposits that have not been required by its customers are transferred on a centralised basis to other licensed banks from the Republic of Moldova.

On 16 October 2015, the Executive Board of the National Bank of Moldova decided to withdraw the licence for financial activity of Banca de Economii S.A., BC ,,BANCA SOCIALĂ” S.A. and B.C. ,,UNIBANK” S.A., because of their insolvency and other violations of the legislation in force, and initiate the process of forced liquidation of these banks, in accordance with the Law on Financial Institutions..

Interactive application

The Law on the issuance of government bonds for execution by the Ministry of Finance of the payment obligations derived from state guarantees no. 807 of 17 November 2014 and no. 101 of 1 April 2015 has been published in the Official Monitor of the Republic of Moldova.

The National Bank of Moldova transmitted to the Parliament and published the Report on the legality of granting, in 2014-2015, emergency loans, provided with state guarantees, for „Banca de Economii" S.A., B.C. „UNIBANK" S.A. and B.C. „BANCA SOCIALĂ” S.A., as well the method of distribution and use of these financial means.

8 October 2015

Following an initial Request for Proposal (‘RfP’) process conducted in January 2015, Kroll was retained by the National Bank of Moldova to conduct a scoping phase of investigations into alleged financial irregularities relating to a series of transactions involving Banca de Economii S.A., BC BANCA SOCIALĂ S.A. and B.C. UNIBANK SA which collapsed at the end of 2014.

The National Bank of Moldova (NBM) informs that, following the visit of the Kroll representatives to the Republic of Moldova, received officially all investigation documents of the international consortium Kroll and Steptoe & Johnson, which have been transmitted to the Anti-Corruption Prosecutor’s Office.

The National Bank of Moldova (NBM) announces that on the evening of 6 March 2018 received the final investigation report on banking fraud from the companies Kroll and Steptoe & Johnson.

On 16 May 2016, the Executive Board of the National Bank decided to apply to the former administrators of BC „BANCA SOCIALĂ” S.A. a maximum fine prescribed by law (10 average salaries on financial activities). The amount of the fine is to be paid to the State budget.

Representatives of the investigation consultancy Kroll and the law firm Steptoe & Johnson visited Chisinau on 7 November 2017 to meet with representatives from a number of state institutions, in order to agree the structure and terms of the strategy for recovery of assets which were misappropriated following the bank fraud.

The investigation has identified the misappropriation of approximately USD 600 million. Kroll will continue to provide regular updates to the NBM during the coming months. It is important that the confidentiality of the next phase of the investigation is maintained, to maximise the opportunities for recovery.

The National Bank of Moldova has received its second formal progress briefing from Kroll on its continuing investigation of a large scale fraud in the Moldovan banking sector.