Moldova: Investprivatbank to be purchased by Banca de Economii
The Government is willing to purchase the bankrupt Investprivatbank through Banca de Economii where the state holds the majority shares.
According to the information distributed by the Government’s press service, Banca de Economii is to purchase Investprivatbank as a single asset. According to the cited source, during the sitting chaired by Prime Minister Zinaida Greceanii, with the participation of the governor of the National Bank of Moldova, Leonid Talmaci, President of Banca de Economici, Grigore Gacikevici, and others, the decision was taken that following the procedures to be taken in accordance with the Law on Financial Institutions in force, all the assets and liabilities of Investprivatbank will pass to BEM, which means that the depositors of the bank will automatically become depositors of BEM, thus ensuring the protection of all their rights.
During the sitting, the prime minister also called upon all Investprivatbank depositors and clients to be indulgent, as through this buy operation the state guarantees the integrity of all the finances deposited on the accounts of this bank, the cited source also informs. On 19 June 2009, the NBM retrieved the financial activity license of CB Investprivatbank SA, appointing a liquidator. According to the NBM, Investprivatbank was brought to the incapacity to pay as a result of poor management.
BASA-Press
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