The Executive Committee of the National Bank of Moldova (NBM) has decided to apply the sanction for five members of the Board of Directors of B.C. ENERGBANK S.A. The sanction was applied following the complex field control carried out by the NBM at this bank.
The total amount of the fines is 156 459 lei.
Also, the members of the Board of Directors and the Board of the Bank were sanctioned with a warning against the admission of violations of normative acts. Moreover, more severe sanctions will be imposed if further irregularities are committed.
The sanctions were enforced after there had been some violations of financial institution laws and National Bank acts identified in the control period.
Irregularities mainly relate to the bank's failure to comply with the prudential requirements of lending, risk concentration, asset classification, and breach of affairs with affiliates, etc.
At the same time, the found violations did not affect the prudential limits set by the NBM and therefore there were no major risks to the stability of the bank.
B.C. ENERBANK S.A. activates on a normal basis and provides all the services proposed.