FinComBank will use 2.2 million lei from its profit for 2007 in the amount of 41.1 million lei (USD4 million) for the formation of the reserve fund, whereas 46.8 thousand lei will be used to replenish the fund of the undistributed profit, the remaining sum will be used to pay out dividends. These decisions were approved at the general annual meeting of the shareholders.

According to bank’s administration, 30 lei will be paid out for each share.

The shareholders underscored a positive dynamic of the bank’s development, in particular, a 43% growth of the aggregate assets up to 1.7 billion, the credit portfolio growth – by 52% up to 995.7 million lei. The deposit portfolio increased by 29.5%, including the deposits of physical persons - by 31%, the stock capital - by 68%.

The clients’ base increased by 20.9% and by the end of 2007 it reached 72.2 thousand, 5.8 thousand of them were economic entities.

In 2007 the bank attracted a strategic investor – the Western NIS Enterprise Fund (WNISEF), which is an American private regional fund, and received a USD5 million loan from the European Fund for Southeast Europe (EFSE) for five years and it actively participate in the RISP and IFAD crediting programs.

The meeting elected the new composition of the bank’s Administrative Board: Chairman – Oleg Voronin, members Aleksandr Sisterov, Dumitru Cojocaru, Vitalie Iurcu, Viltalie Bodea, Cristina Harea, Marc Ivascu. The two latter ones are WNISEF representatives.

The meeting also approved the bank’s business-plan for 2008 and approved the Ernst&Young as an auditing company for 2008.

According to the bank reliability rating, made by the “Bank and Finance”-Profit magazine for 2007 FinComBank took the first position in the group of banks, which have assets up to 1 billion lei and the fifth position in the banking system. The bank obtained 651.2 points out of 1000. // Infotag



Publication date: 26 April 2008   

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