Moldindconbank – a story of success

Svetlana Banari, Chairman of the Managing Board, discusses Moldindconbank’s success story in Moldova.

European Times: Can you describe shortly the history of Moldindconbank?

Founded on July 1^st 1959 as Moldavian branch of USSR Stroybank, Moldindconbank is considered one of the oldest banks from Moldova, celebrating this year 55 years of success. In 1991, the bank performed the transition to the market economy by becoming a Joint Stock Company, which nowadays provides one of the most diversified and qualitative banking services to both corporate (over 18 000 entities) and retail customers (over 330 000 persons).

European Times: What is the present Moldindconbank market position?

Today, Moldindconbank is one of the leading Moldovan commercial banks, placing second by total assets and managing the second largest loan portfolio, with market shares of 14.7% and 17.3% respectively (Q3 2014 data). However, for the last two years we maintain the leading position as the most efficient bank, registering highest financial indicators on the market, such as ROA (return on assets) – 3.2% and ROE (return on equity) – 25.9% (Q3 2014 data).

European Times: Where Moldindconbank’s services are provided?

The bank is operating mainly on Moldovan market by managing the second largest branch network with 124 offices and 152 ATMs, which assure the presence in all regions and cities of the country. Also, the bank is paying a high attention to smart banking solutions, by investing in latest internet and mobile technologies for serving our clients wherever they are.

European Times: What are the main achievements of the bank?

One of the main achievements can be considered developing a highly competent managing system that can effectively realize the most enthusiastic business strategies. But it couldn’t be possible without building trustworthy and durable relationships with our customers, by helping entities to improve their business and individuals to fulfil their needs.

European Times: What are the key factors of Moldindconbank success?

One of the main ingredients of our success is providing long term financing to local business and national economy, where Moldindconbank is a leader by amount of funds contracted from international financial institutions. In this order, bank established reliable partnership with such notorious organizations as EBRD, World Bank, FMO and BSTDB. This strategic cooperation is even more important as the local demand for investments is constantly increasing due to the structural economic reforms carried by the Moldovan Government.