Banca de Economii S.A.

According the agenda the General Shareholders Meeting examined and approved financial report of the bank, Bank Counsel’s Report and Audit Committee’s Report, appointed members of Bank Counsel and Audit Committee, as well as reviewed other questions.

Due to weighted policy and highly experienced bank team in 2009 Banca de Economii S.A. managed to strengthen its positions on financial market of our country.

By the end of the year 2009 assets of Bancа de Economii S.A constituted MDL 5.123 bln, representing an increase by 44.5 % as compared with the beginning of the year. During this year bank registered the highest growth in assets within its activity of last years and the best assets performance in the Moldovan banking system.  At the end of the year deposits of individuals amounted to MDL 2.236 bln, as compared to MDL 1.834 bln at the beginning of the year, loans and financial lease portfolio increased during the year by 7.9 percent, registering MDL 2.149 bln. Total regulatory capital at the end of 2009 year constituted MDL 819.8 bln.

In conditions of unstable financial environment on Moldovan market during the year 2009 when Moldovan banking system registered losses, Banca de Economii S.A. obtained a profit amounting to MDL 23.7 bln.

For the first time during the recent years the General Shareholders Meeting approved distribution of income for the year 2009 by paying dividends in the amount of 1.22 lei for one ordinary shares, or 24.35% of nominal value (nominal amount of shares constituting 5 lei) and the amount of 25% of nominal value for preference shares.

Worth noting that two years in succession competent international edition “Finance Central Europe” highly appreciates the activity of Banca de Economii S.A. ranking it as one of the most profitable banks in South – Eastern Europe. As a result in 2009 Banca de Economii S.A. was acknowledged as "Best Bank in Moldova by ROE". As well this year Banca de Economii S.A. was awarded the gold in the contest "Socially responsible trade mark”, organized by the Chamber of Commerce and Industry, for their commitment and contribution to society.

Also the General Shareholders Meeting appointed KPMG as the international auditing company for the year 2010.

This year Bank celebrates its 70^th anniversary of foundation and continues consolidating the position of the one of the most successful financial institution in our country. Owing to highly competent team, balanced strategy and advanced IT solutions bank successfully withstands the crisis challenges and ensures continuous development in accordance with the tasks set by its shareholders.