Moldova’s UniversalBank lost its license
Moldova’s UniversalBank has no more a license to provide banking services on the market. The Administration Council of the National Bank of Moldova decided on February 15 to withdraw UniversalBank’s license due to “deflections from the legislation.”
The impossibility to adjust the financial situation of the bank is one of the main reasons which led to insolvency of the institution.
Fourteen commercial banks have left on the Moldovan market after the National Bank withdrew the license of UniversalBank. The bank got its license in November 1994.
By Valeriu Gonta
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