FinComBank has the Fewest Nonperforming Loans on the Banking Market

FinComBank has the Fewest Nonperforming Loans on the Banking Market

• 16.10.2014

FinComBank recorded, during nine months of the current year, the lowest coefficient of nonperforming loans on the banking market of the Republic of Moldova, this representing 3. 95%.

During the current year, FinComBank directed its full attention towards continuous improvement of its services and towards an as efficiently as possible communication with the entrepreneurs, so as to meet their financial needs and support their business plans. Therefore, the bank has provided them with the most suitable products for investment and business development. Thus, FinComBank has managed to significantly improve its commercial and financial results, recording the best indicators as compared to the previous years.

In nine months of 2014, FinComBank focused its efforts on improving several aspects related to risks, services, cost reduction and technologically advanced products promotion.

The main achievements of this period are:

• Total asset: 2073, 28 million MDL, increased by 5.7% since 2013, which amounted 1961, 49 million MDL;
• Total loans: 1048, 96 million MDL (the past year they accounted 1034, 44 million MDL);
• Total deposits: 1426, 90 the past year they accounted (the past year they accounted 1325, 62 million MDL);
• Deposits / Credits: 136. 03%;
• Non-performing loans: 3. 95%, registering a performance of 48% compared to the past year, which constituted 7.6%;
• Total Regulatory Capital: 284. 95 million MDL, increased by 16. 06 % compared to 2013, which amounted 245.52 million MDL;
• Liquidity: 36%
• Proportion of micro, small and medium enterprises in the loan portfolio of the bank – 67. 43%,
A confirmation of the ongoing optimization efforts taken by the bank until the month of September 2014 is the positive net result of 17, 3 million MDL.

Note: FinComBank JSC is a leading commercial bank in Moldova, offering a wide range of financial services to micro, small and medium enterprises, as well as to individual consumers through a network of 46 units, located throughout the country. Thus, the bank provides its clients with specialized business lines, as well as daily operations, investment loans, salary packages, consumer loans, deposit products with attractive interest rates, internet banking, debit cards and other products.

The FinComBank development strategy is based on a balanced growth directed towards the real economy and the interests of more than 100,000 customers, 540 employees and 136 shareholders.

For more information please contact:
FinComBank JSC, 26, A. Pushkin Street, Chisinau Municipality
Phone: (+373-22) 269-822
E-mail: marketing@fincombank.com
Web site: http://www.fincombank.cоm
Facebook - https://www.facebook.com/pages/Fincombank-SA/1503075789949416?ref=hl

FinComBank

FinComBank was established in July 1993 as a joint-stock company. Today it is a well-positioned, highly profitable mid-sized bank with a very professional and dedicated management team. FinComBank provides a wide range of corporate and investment banking services to Moldovan and foreign clients. The Bank’s customers include individuals, micro, small and medium enterprises, representing all the main sectors of the Moldovan economy. However, FinComBank considers being a priority servicing micro- and small business as well as private individual entrepreneurs. 90% of new credits are issued to SMEs. FinComBank’s 17 branches and 67 agencies are located all over the Republic. At present, the Bank has 139 shareholders, 575 employees, and over 110 thousand clients. In August 2007 widely well-known venture Western NIS Enterprises Fund (WNISEF) became one of the major shareholders of FinComBank after purchase of 25 percent of the bank’s shares. Since 1995 the Bank has had its annual financial audits conducted according to international standards initially by Coopers & Lybrand/PriceWaterhouseCoopers), then by Ernst & Young. As a result it has maintained its financial strength by complying with all international standards concerning liquidity margins and capital adequacy required under the Basle Accords. The Bank is one of the founders of the Banking Association of Moldova and the Moldovan Stock Exchange and a member of the American Chamber of Commerce in Moldova (AmCham).