REPUBLIC OF MOLDOVA
NATIONAL COMMISSION FOR FINANCIAL MARKETS
ANNUAL REPORT 2013
National Commission for Financial Markets’ activity
and non-banking financial market functioning
Chisinau 2014
217
Annual report on NCFM activity and non-banking financial market
functioning in 2013
Approved within the meeting of NCFM Council of Administration on May 23,
2014 and submitted to the Parliament, President of the Republic of Moldova
and Government in accordance with the provisions of the Law No. 192 - XIV
of 12.11.1998 "On the National Commission for Financial Markets" with
further amendments.
The annual report emphasizes the events in calendar year 2013 and reflects
the situation as of December 31, 2013.
Reproduction of this publication is prohibited and use of data in various
papers is permitted only if the source is acknowledged.
National Commission for Financial Markets
MD 2012, Stefan cel Mare Bd., No.77, Chisinau,
Phone: +373 22 859 401
Fax +373 22 859 504
Internet: www.cnpf.md
E-mail: [email protected]
2
CONTENTS
Message of the Chairman of National Commission for Financial Markets
8
Chapter I. ACTIVITY OF THE NATIONAL COMMISSION FOR
FINANCIAL MARKETS (NCFM)
11
I. Mission, management and organization of NCFM
1.1. Mission and responsibilities of NCFM
1.2. Organizational structure and professional training
1.3. Budget and Financing in 2013
1.4. Information Technologies Development
1.5. Information Transparency
11
11
15
17
20
21
II. Achievement of NCFM Objectives
24
24
2.1. Regulation of non-banking financial market
2.2. Authorization, registration and licensing of non-banking financial market
participants
2.3. Monitoring and control of non-banking financial market participants’
activity
2.4. Protection of the rights of non-banking financial market participants
2.5. Legal activity
2.6. Certification of non-banking financial market specialists
2.7. Financial stability
2.8. Internal Institutional cooperation
2.9. International cooperation
2.10. Preventing and combating the money laundering and terrorism
financing on the non-banking financial market
Chapter II. ORGANIZATION AND FUNCTIONING OF THE
NON-BANKING FINANCIAL MARKET
I. Development of securities market
1.1. Primary market of securities
1.2. Secondary market of securities
1.3. Participation of foreign investors in transactions on securities market
1.4. Financial results of Joint Stock Companies’ activity
1.5. Activity of professional participants on the securities market
II. Insurance market development
2.1. Insurance companies’ activity
2.2. Activity of insurance and/or reinsurance intermediaries
2.3. Street Victims Protection Fund
III. Microfinance sector development
3.1. Activity of savings and credit associations
3.2. Activity of microfinance organizations
IV. Activity of Credit History Bureau
Annexes
28
31
37
39
42
43
44
45
51
53
53
53
55
62
64
66
78
78
91
91
93
94
106
109
111
3
ANNEXES
Annex No. 1
Annex No. 2
Annex No. 3
Annex No. 4
Annex No. 5
Annex No. 6
Annex No. 7
Annex No. 8
Annex No. 9
Annex No. 10
Annex No. 11
Annex No. 12
Annex No. 13
Annex No. 14
Annex No. 15
Annex No. 16
Annex No. 17
Annex No. 18
Annex No. 19
Annex No. 20
Annex No. 21
Annex No. 22
Organizational structure of the National Commission for
Financial Markets
Regulatory decisions of the National Commission for Financial
Markets approved in 2013
Recordings made in the Register of licenses issued, re-issued,
suspended and withdrawn in 2013
Authorizations of reorganization issued to Joint Stock
Companies in 2013
Public offers on the secondary market registered and developed
in 2013
Transactions under public offering prospectus
Information on contraventions detected on the non-banking
financial market in 2013
Legal and normative acts examined by NCFM at the request of
other authorities with issuance of notifications
List of the Joint Stock Companies which issued incorporation
shares in 2013
List of Joint Stock Companies which have performed
supplementary issues in 2013
List of Joint Stock Companies which have registered changes
in the Securities State Register in 2013
Transactions with securities of Joint Stock Companies included
in the listing of Moldova Stock Exchange in 2013
Free float ratio for issuers included in the listing of Moldova
Stock Exchange as per 31.12.2013
List of Joint Stock Companies which registered securities
issues with foreign capital participation in 2013
Purchases and sales of securities made by foreign investors
depending on the home country in 2009-2013
List of Joint Stock Companies which submitted the annual
financial report on securities for 2012
Results of economic and financial activity of Moldova Stock
Exchange at the end of 2013
Results of economic and financial activity of the National
Securities Depository of Moldova at the end of 2013
Results of economic and financial activity of non-banking
brokers/dealers at the end of 2013
Information on the amount of transactions carried out via nonbanking brokers/dealers in 2013
Amount of transactions with corporate securities carried out via
commercial banks in 2013
List of independent registrars who provided issuers’ register
keeping services in 2013
111
112
114
129
132
134
135
138
141
142
145
148
149
150
151
152
183
183
184`
185
186
187
4
Annex No. 23 Results of economic and financial activity of independent
registrars at the end of 2013
Annex No. 24 Economic and financial situation of the investment funds in
process of forced liquidation at the end of 2013
Annex No. 25 Economic and financial situation of investment funds in
process of liquidation on own initiative at the end of 2013
Annex No. 26 Economic and financial situation of trust managers at the end
of 2013
Annex No. 27 Concluded contracts and services provided by companies
evaluating securities and assets related to them
Annex No. 28 Results of economic and financial activity of companies
evaluating securities and assets related to them at the end of
2013
Annex No. 29 Information on the consulting and investment consulting
activity provided by professional participants of the nonbanking financial market in 2013
Annex No. 30 Subscribed insurance premiums in 2013
Annex No. 31 Insurance compensation and claims paid in 2013
Annex No. 32 Balance sheet of insurance companies at the end of 2013
Annex No. 33 List of insurance companies with foreign capital
Annex No. 34 Placement of insurance reserves and minimum solvency
margin according to the situation at the end of 2013
Annex No. 35 Information on subsidized agricultural insurance in 2013
Annex No. 36 Report on reinsurance operations
Annex No. 37 Main indicators of insurance companies’ activity at the end of
2013
Annex No. 38 Financial results of insurance and/or reinsurance brokers
Annex No. 39 General information on economic and financial situation of
savings and credits associations at the end of 2013
Annex No. 40 Key indicators on the activity of microfinance organizations at
the end of 2013
188
189
190
191
192
193
194
196
197
198
199
200
201
202
203
204
208
220
5
Main Acronyms and Abbreviations Used
SCA
Savings and Credit Association
TA
Trust Manager
BaFin
German Financial Supervisory Authority
IRB
Insurance and/or reinsurance broker
CB
Commercial Bank
EBRD
European Bank for Reconstruction and Development
WB
World Bank
NBMI
National Bureau of Motor Insurers
NBM
National Bank of Moldova
MSE
Moldova Stock Exchange
IC
Insurance Company
CNA
National Anticorruption Centre
ICEEC
Integration Committee of the Eurasian Economic Community
TC
Trust Company
JIC
Joint Insurance Company
NCFM
National Commission for Financial Markets
NCFS
National Committee for Financial Stability
CIS
Commonwealth of Independent States
NSD
National Securities Depository
CEE
Central and Eastern Europe
FATF
Financial Action Task Force
NNIF
Non-mutual Non-specialized Investment Fund
IMF
International Monetary Fund
6
IAIS
International Association of Insurance Supervisors
ICURN
International Credit Union Regulators’ Network
IOSCO
International Organization of Securities Commissions
IOPS
International Organization of Pension Supervisors
FCC
Foreign Capital Company
JV
Joint Venture
MMoU
Multilateral Memorandum of Understanding
MO
Microfinance Organization
GDP
Gross Domestic Product
RISP
Rural Investment and Services Project
RM
Republic of Moldova
SSR
Securities State Register
JSC
Joint Stock Company
AIPS
Automated Interbank Payment System
ML/TF
Money Laundering and Terrorism Financing
CS
Commercial Society
IFRS
International Financial Reporting Standards
IMS
Informational Management System
LLC
Limited Liability Company
USA
United States of America
EU
European Union
USAID
United States Agency for International Development
WOCCU
World Council of Credit Unions
7
The National Commission for Financial Markets presents its annual activity
report which reflects the activity of the institution and of the non-banking financial
market of the Republic of Moldova in 2013.
Foreword of the Chairman
In mid 2013 I was appointed by the Moldovan
Parliament as Chairman of the National Commission
for Financial Markets. It is a big challenge to manage
the non-banking financial market supervisory authority,
to lead the processes related to the development of all
market segments and to achieve by the concerted
efforts of the team, the development partners and
market participants the strategic objective: a safer,
sounder, more transparent and accountable financial
market, working for the economy and society as a
whole.
The activities carried out in 2013 are part of the reform
agenda in the Strategy for non-banking financial market development 2011-2014
and the action plan for its implementation. The convergence of the regulatory
framework and harmonization with EU standards and approaches is a prerequisite
of Association Agreement negotiations RM - EU Free Trade Agreement thorough
and comprehensive. Consequently, the ambitious reform related to proper
regulation of financial services into force on 14 September 2013 Capital Market
Law is welcomed as an important contribution to the harmonization of the
Republic of Moldova to EU standards.
The objective of this law is to establish a comprehensive set of rules that
facilitate the emergence of new opportunities for investment firms by the range of
services offered, lower capital costs, regulation multilateral trading systems, setting
new regime of investor protection etc.. Finally, the legislative framework and
regulatory environment of the role is to carry out important for attracting
investment for companies.
With reference to the insurance market consolidation mention that the current
solvency regime for insurance companies require a comprehensive approach both
by branch regulatory activities, and through supervisory chain, designed to assess
the creditworthiness of insurers to more closely reflect the overall financial
position of each insurance, business profile and risk management strategy by these
entities. Prudential regulation of insurance business in 2013 aimed, in particular,
the conditions for approval of large transactions conclusion, how to set insurance
premiums and actuarial methods applied to calculate the insurance premium base
and correction coefficients applied thereto, amending provisions on the application
of the bonus-malus system and method for determining the wear. These regulations
have struck a rigid reaction of the insurance sector, which requires conducting
8
conciliation of all aspects of NCFM activities in a direct dialogue with the
supervised entities to exclude existing impediments to record progress of
implementation of standards solvency.
Evaluation of the implementation of the main policy document on financial
market - Development Strategy for 2011-2014 non-banking financial market is
made based on monitoring indicators. Their value recorded in 2013 proving that
exceeded the expected size for the securities market, except the volume of
securities issues. This established trend of improving investor sentiment towards
investment risks associated with the secondary securities market.
Insurance market, although there have been increases in relation to the year
2012 most of the indicators, their value has not led to the expected overruns,
excluding equity value of insurance and insurance reserves. The volume of
insurance premiums up 10 percent did not provide the increase in profit earned by
insurance companies as a result of activity.
Microfinance sector indicators reveal microfinance entities conducting
activities continued prudent risk assessment and implementation of responsible
lending practices. While the portfolio of loans to savings and loan associations has
not achieved the desired expectations, the portfolio is growing microfinance
organizations in relation to the year 2012 by 19 percent.
Year 2013 was an eventful year by hosting major regional seminar for
insurance supervisors in Central and Eastern Europe, Central Asia and
Transcaucasia protection and consumer education, Eurasian Group meeting on
corporate governance and capital market development meetings XVI and XVII of
the Council of heads of state bodies regulating the securities markets of the CIS
member states. Preorder meetings aimed ensuring the exchange of experience on
international practices and implementation of innovations on the domestic market.
A proactive role for market development activities have been promoting nonbanking financial market products and consumer banking financial services, one
diverse toolkit. Thus was conducted effective cooperation with public authorities,
non-governmental structures and financial market participants, conducted public
information measures, regulations developed according to the best practices of
consumer protection and provide access to communication.
NCFM, in collaboration with development partners, organized a series of
seminars for employees savings and loan associations in which were discussed the
latest changes and additions to legislation on SCA activity as bancassurance agent
insurance market methods and techniques in selling insurance: agriculture, auto,
life, supply management strategies in conjunction with bancassurance agent.
Currently, NCFM successfully exploit the results of assistance to the Government
of the Republic of Poland, they meterializîndu - the string is in the process of
developing legislation related to the implementation of the Capital Market Law.
Experience presented by the Polish Financial Supervision Authority employees
NCFM and professional participants, provided a clear perception of the practical
toolkit aimed at regulation and supervision of capital market participants with
complex requirements harmonized community.
9
In conclusion, the activities of the NCFM in 2013 were aimed primarily at
enhancing the non-banking financial market stability at the systemic level, the
adoption and implementation of fair market practices and ensuring the protection
of investors and non-bank financial services consumers against unfair elements
that actively contribute to strengthening the domestic market and to improve the
investment climate of the country.
I am convinced that the future national financial market activity will ensure
European standards. This goal mapping for us supervisory authority challenges and
priorities that must be addressed in the context of EU integration vector and
presents a strategic framework for reforms in the coming years.
With the highest regard for financial market participants, investors,
consumers, non-banking financial services, government, development partners,
Artur GHERMAN
Chairman of the National Commission for Financial Markets
10
Chapter I. ACTIVITY OF THE NATIONAL COMMISSION FOR
FINANCIAL MARKETS
1. Mission, management and organization of NCFM
1.1.
Mission and tasks of NCFM
NCFM, as an autonomous public authority responsible to the Parliament
which operates under the provisions of the Constitution of the Republic of
Moldova, Law no.192-XIV of 12.11.1998 “On the National Commission for
Financial Markets”, with further amendments and supplements, other laws and
regulations, and the Regulation on organization and functioning of the National
Commission for Financial Markets, approved by NCFM Decision no.48/5 of
27.09.2007 with further amendments.
NCFM is managed by the Administrative Council, which is a collegial body
composed of 5 members, including the Chairman and two Deputy Chairmen of the
Administrative Council. The Administrative Council members are appointed by
the Parliament for a term of 5 years.
The nominal composition of the Administrative Council has the following
structure:
 Chairman – Artur Gherman
 Deputy chairman – Iurie Filip;
 Deputy chairwoman – Nina Dosca;
 Member – Aurica Doina;
 Member – Victor Captari.
Mission
NCFM mission is to contribute to the stability and development of non-bank
financial markets and strengthen confidence in the market sector and its
professional participants.
Tasks
In accordance with legal and regulatory framework which governs the
activities of NCFM, it has the following basic tasks:
11
- elaboration of the strategy for development of the non-banking financial
market;
- adoption of decisions and disposing of executory measures dealing with the
professional participants to the non-banking financial market;
- licensing, annulment, suspension and renewals of the licenses and
authorizations to the professional participants of the non-banking financial
market;
- establishment of prudential requirements for the market professional
participants;
- Performing a continuous monitoring of compliance legislation, including
prudential standards ;
- participants analysis for the identification of situations that jeopardize the
legitimate interests of investors and consumers of financial services and
banking financial market stability as a whole.
Supervised entities
The NCFM’ s authority extends over the financial market professional
participants (Table No. 1) and the non-banking financial services’ consumers securities issuers, investors, policyholders, members of savings and loan
associations, clients of microfinance organizations.
Table No.1 Evolution of the number of professional participants on the non-banking
financial market
No
Supervised entities
.
1.
1
2
Professional
participants
on
securities
market,
including:
Stock Exchange
of Moldova
National
Securities Depository of
Moldova
Independent
registrars
Brokers/dealers
Investment funds
in the process of forced
liquidation
Investment funds
in the process of
voluntary liquidation
Companies
of
fiduciary investments
administration2
Companies
for
estimation of the value
31.12.2009
62
Situation from:
31.12.2010
31.12.2011 31.12.2012
63
64
67
31.12.2013
67
1
1
1
2
2
1
1
1
1
1
10
10
11
12
121
21
9
22
9
22
9
22
9
22
9
9
9
9
9
9
7
7
7
7
7
4
4
4
5
5
2 issuers of securities licensed for keeping the register of securities holders independently
3 investment trust management companies are under liquidation
12
2.
3.
4.
of securities and assets
related to them
Professional
participants on the
insurance
market,
including:
Insurance
companies
Insurance/reinsur
ance brokers
Insurance agents
National Bureau
of Motor Insurers
Professional
participants in the
microfinance sector,
including:
Savings
and
credits associations
Central
association
Microfinance
organizations
791
1048
1047
1867
1865
24
24
20
18
16
45
63
66
76
75
722
1
961
1
961
1
1773
1
1773
1
430
442
440
431
425
394
398
376
359
338
1
1
1
2
2
35
43
63
70
85
Non-state pension
1
2
2
3
3
Manager of nonstate pension funds’
assets
Credit
history
bureau
TOTAL
1
1
1
1
1
0
1
1
1
1
1286
1558
1556
2371
2362
5.
funds
6.
7.
In the mentions periods, NCFM continued the reforms initiated in earlier
provide capacity building and operational NCFM prioritize the improvement and
promotion of legislative and regulatory framework in line with European and
international standards.
In the reference period, NCFM continued implementation of Law No. 35 of
03.03.2011 "On approval Strategy non-bank financial market development
between 2011 -2014 and the Action Plan to implement the development strategy of
non-banking financial market for the years 2011 -2014 ". Thus were developed and
promoted the number of draft laws and regulations transposing EU Directives into
national legislation and harmonize of the existing framework legislation with the
acquis communautaire and that the best regulatory and supervisory practices
applied on European and international level.
Table No.2 Evolution of indicators for monitoring the Strategy
No. Monitoring indicators
1.
2.
3.
2009
2010
2011
2012
Securities issue, mil. lei
644,2
The amount of securities transactions, 621,9
mil. lei
Stock exchange transactions,
141,2
- mil. lei
857,4
559,1
1389,3
1940,0
2013
2013
estimate effective
1106,0 1000,0 950,1
1251,5 1200,0 1711,6
267,9
241,9
623,3
800,0
822,0
13
4.
5.
6.
7.
8.
9.
10.
11.
- reported
to
total
amount
of
securities
transactions, %
Foreign investments attracted through
securities issue,
- mil. lei
- reported
to
total
amount of issued securities, %
The amount of subscribed insurance
premiums,
- mil. lei
- reported to GDP, %
The amount of life-insurance premiums,
- mil. lei
- reported to total
amount of premiums, %
The amount of insurance reserves, mil.
lei
Insurance companies’ equity, mil. lei
Savings and credit associations’ loan
portfolio,
- mil. lei
- reported to GDP, %
Rate of loans granted by savings and
credit associations financed from
deposits, %
Microfinance organizations’ loan
portfolio,
- mil. lei
- reported to GDP, %
22,7
47,9
12,5
49,8
65,0
48,0
319,7
49,6
460,9
54,0
760,1
55,0
428,3
38,7
600,0
60,0
489,6
51,5
816,5
1,36
914,7
1,27
1000,0
1,22
1089,3
1,24
1500,0
1,88
1198,9
1,20
50,5
6,2
53,8
5,9
65,5
6,6
68,6
6,3
150,0
10,0
73,5
6,1
487,5
515,6
722,3
841,9
650,0
1042,2
812,7
1081,7
1192,4
1242,3
1000,0
1068,9
322,9
0,55
244,2
0,34
254,2
0,31
273,9
0,31
600,0
0,75
331,9
0,33
22,3
38,2
40,8
69,1
22,0
69,9
1800,0
2,25
1897,0
1,9
1360,9
2,26
1191,5
1,66
1440,8
1,75
1590,1
1,81
Assessment of implementation of the main policy document on financial
market - non-banking financial market development Strategy for 2011-2014 is
made based on monitoring indicators. Their value recorded in 2013 attests that
there has been overcome the expected size for the securities market, except the
volume of securities issues. This is the tendency of improving the investor
perception of the towards investment risks in the secondary market securities.
The insurance market, though there have been increases in comparison with
2012 for most of the indicators, their value has not led to the predicted exceedance
except equity value of insurance and insurance reserves. The prudential
requirements established for insurance companies have conditioned growth of
insurance reserves. Although the volume of subscribed premiums increased by 10
percent in 2013 compared to the value of this indicator in 2012, this has not
ensured the increase of profit as a result of work performed by insurance
companies.
Microfinance sector indicators reveal a more cautious conduct of business
through continuous assessment of risks and the implementation of responsible loan
practices. While, the value of the loan portfolio of savings and loan associations
did not reach the expected levels, the microfinance organizations’ portfolio is
growing in comparison with 2012 by 19 percent. Note that the deposition rate
financing loans by the savings and loan associations of B category is maintained at
14
the level of 2012, which attests ensuring of the comfortable financial independence
for the external sources of funding.
Measures to achieve the objectives of the non-banking financial market
development strategy for 2011-2014 have been directed towards improving the
working conditions for financial market participants, market infrastructure
development, and implementation of the modern information technologies.
Thus, for performing a transition to an activity under the principles of riskbased supervision and proper performance of the functions provided by law,
NCFM launched on 3 January 2013 on the information system that provides
integration of the National Securities Depository in Automated Interbank Payment
System with the possibility of monitoring the NCFM and NBM securities
settlement transactions. At the same time, since 1 February 2013 there has been
launched by State Automatic Information System on the domain of compulsory
insurance of civil liability for motor vehicles (RCA Data) that automates the
process of concluding insurance contracts and issuing policies electronically RCA
insurance and "Green Card", the automatisation of the processing of filing claim
files, disciplining professional participants on the insurance market and
comprehensive analysis of the received data on compulsory insurance of civil
liability of motor vehicles.
At 14.09.2013 the entered into force Law no. 171 of 11.07.2012 "On the
capital market" developed in accordance with EU directives and best practices in
the field internationally level and aims to create the necessary legal framework for
capital market development by establishing an appropriate mechanism for
protecting the rights and interests of investors and consumers in the capital market,
creating and maintaining of fair, efficient and transparent markets and to reduce
systemic risks. In this law are transposing the 11 Directives of EU. To implement
the law above, NCFM develops and finalize the regulatory framework to ensure its
implementation.
At the moment, the draft Law on facultative pension funds are in approval
process is the, the objectives of which include compliance with EU regulations and
best internationally practices in the field, boosting voluntary pension funds sector
development and promotion of the public confidence in these institutions. The
draft law was approved in first reading in the Parliament session of 11.22.2013.
1.2.
Organizational structure and training
During the reporting period, NCFM realized its objective of strengthening the
regulatory and supervisory capacity by implementing training and professional
development of all employees and by optimizing organizational structure of the
institution. During the reporting period, NCFM operated under the organizational
structure approved by NCFM Decision No. 45/13 of 09.11.2012 (Annex1).
In order to adjust the institution activities to the of needs effective supervision
of the insurance market by NCFM Decision no. 49/9 of 18.10.2013 "On approval
of the structure of staff", there has been created a Division of monitoring, statistics
and actuarial insurance supervision in the General insurance Division. In the same
15
time, and taking into account the growing importance of information technology in
the practice of non-banking financial market supervision, there has been created
the Information Technology Division.
According to the staff approved for 2013, personnel of the NCFM have been
at 122 staff units. At the end of 2013 the number of employees was preserved the
level 121 people. The structure of the subdivisions reflects the institutions activities
necessary for the established objectives achievement and is presented in
Diagram.1.
Diagram nr.1 Subdivision structure
Territorial
Concil of
Representatives ,Administration ,
5.7%
4.1%
Economic,
Financial and
Administrative
General
Directorate, 14.8%
General executiv
Directorate , 15.5%
General Directorate
of legal assistance ,
9.0%
General Directorate
of Collective
Placements and
Micro-financing ,
14.8%
General Directorate
of security
supervision, 13.9%
General Directorate
of insuerance
supervision, 14.8%
Issuers monitoring
Directorate, 7.4%
The educational level of the personnel as of 31.12.2013 is presented in Table
No.3.
Table No. 3 Educational level of NCFM’ staff
No
1.
2.
3.
Indicators
Higher education,
including:
- economics
- law
- others
Postgraduate studies:
Scientific titles:
2011
persons share, %
108
100
70
25
13
36
4
64,8
23,2
12,0
33,3
3,7
Period
2012
persons share, %
1
107
00
66
61,7
27
25,2
14
13,1
33
30,1
4
3,7
2013
persons
115
share, %
100
66
33
16
46
4
57,4
28,7
13,9
40,0
3,5
To promote the perspective vision of the NCFM on the application of
advanced human resources management practices, there were established criteria
for assessing the professional level and conduct of the NCFM’ staff.
In accordance with the Regulation on the form, conditions and remuneration
system of employees approved by the NCFM Decision no. 39/1 of 13.09.2010,
with amendments and completions made by the NCFM Decision no. 9/25 of
01.03.2012, it was implemented a motivational system which consists of
establishing differentiated bonuses for professional competence, the degree of
16
achievement of objectives and work intensity, which would contribute to the
increase of the individual and collective performance of employees.
An important component in the consolidation of the NCFM’s capacities of
continues development of the professional skills of the staff. In this respect, during
2013, there were provided opportunities for employees to participate in various
seminars, trainings and conferences organised at the national and internationally
level, as well as the internal professional trainings:
Table No. 4 Level of participation in training activities
Forms of
training
Internal trainings
2011
Number of
Average
activities
number of
trained
personnel
14
75
2012
Number of Number of
activities
activities
6
25
2013
Average
Number
number of
of
trained
activities
personnel
33
18
National trainings
16
22
3
31
13
35
International
trainings
27
68
38
79
37
60
In 2013, based on the resources of the NCFM and the support of international
organizations, the NCFM employees had the opportunity to participate in 37 international
training activities, including seminars, workshops, conferences and other major events for
professionals in the field of finance. At the internal level there were organized 13 training
activities, including topics related to the implementation of the International financial
reporting standards, investor protection, internal control and risk management.
During the reporting period there were organized 3 study visits to similar
European Authorities: BaFin (Germany), KNF (Poland), ESV (Sweden),. The
purpose of these visits was to establish cooperation and to study the relevant
regulatory and supervisory practices applied to financial markets. The exchange of
experience made during the study visits helped to understand the main regulatory
and supervisory principles applied internationally, resulting in improved
procedures of licensing, regulation and supervision, contributing to the institutional
development of the NCFM.
1.3.
Budget and Financing
According to the Parliament Decision no.276 of 06.12.2012 "On
approval of the budget of the National Commission of Financial Market 2013"
NCFM budget for 2013 was approved on revenues of 17,605,200 lei and
expenditures of 25,392,200 lei. According to the 2013 Financial Report shows the
following:
Table No.5 Budget execution for 2013
Assets
Intangible assets
At the end of the current
reporting year (2013),
thousands lei
9 838,2
At the end of the
previous reporting
year (2012),
thousands lei
9 051,0
17
Harmonization of intangible assets
Intangible assets in course of execution
Lands
Fixed assets
Wear and depletion of tangible asset on long
term
Stocks of things and goods
Low cost and short term objects
Short- term receivable beside commercial bills
(1 280,6)
161,2
1 505,4
17 137,3
(8 279,6)
(815,6)
1 505,4
17 153,7
(7 828,4)
516,3
192,1
153,3
545,8
59,2
169,2
Short-term advances payment
Short-term receivable of budget settlements
Short-term personal receivable
Short-term receivables on estimate revenue
Other short-term receivables
Short-term investments in non- connective
parts
Cash desk
Current accounts in national currency
Current accounts in foreign currency
0,4
1 241,1
81,6
10 645,1
11,1
51,9
1 209,3
18,2
13 702,4
0,4
1 255,5
133,3
2,4
2 597,7
646,7
56,0
26,2
124,8
33 481,8
109,9
38 216,1
At the end of the current
reporting year (2013),
thousand lei
Other funds
Other short-term assets
TOTAL ASSETS
Liabilities
Other funds
Correcting the results of previous periods
24 924,0
(24,7)
At the end of the
previous reporting
year (2012), thousands
lei
24 924,0
-
The net profit (net loss) of the reporting period
Other long-term liabilities calculated
(4 227,9)
10 825,8
X
10 825,8
1,3
542,4
1 082,0
281,0
-
1 198,0
883,7
366,7
0,4
77,9
17,5
33 481,8
38 216,1
Debts on commercial bills
Advance payments received
Debts concerning labour remuneration
Debt concerning insurance
Debt concerning budget settlement
Other short term liabilities
TOTAL LIABILITIES
NCFM budget for 2013 was executed on the income at a level of 119.8
percent compared to the annual and the estimates at the level of 99.8 percent. The
structure and the amount of revenues approved and working out effective and are
present in the following table:
18
Table No.6 Structure and volume of the revenues approved and effectively executed in
2013
Revenue indicators (fee/payment)
Approve,
thousand lei
Actually
executed,
Level of
execution %
thousand lei
Fees received from transactions with securities
8354,7
11681,5
139,8
Payments of the insurance companies and
insurance brokers
6507,1
6288,5
96,6
Payments of the loan and credit associations
377,1
562,4
149,1
Licensing fees
133,9
357,3
more than
2,7
Amounts of sanctions and penalties for
administrative contraventions applied in
accordance with legislation
300,0
374,5
124,8
Revenues from the interest earned on depository
and current accounts
1550,0
1163,5
75,1
Revenues from the leasing of the publicly owned
real estate
234,3
257,7
110,0
Other legal revenue sources
148,1
409,2
more than
2,8
17605,2
21094,6
119,8
Total revenues:
The structure of revenues in 2013 was executed effectively taxis coming
from securities make up 55.4% of the collected insurance payments - 29.8%,
payments collected from the savings and loan associations - 2.7%, other payments
(amounts sanctions for administrative offenses, related interest cash balances, pay
for rent etc.) - 12.1%. Structure and volume of consumption and actual costs in
2013 are presented in the following table:
Table No.7 Structure and amount of expenditures approved effectively executed in 2013
Indicators
At the end of the current
management, thousands
lei
At the end of the previous
financial year, thousands
lei
Consumption and expenditures costs
Consumption and expenditures on services
provided by third parties
Wear on long-term assets
Personal remuneration
Contributions on social state insurance and
campulsory medical premiums
Other consumption and operating expenses
Total Expenses
215,0
237,3
240,1
157,6
1 451,0
15 849,5
4 049,2
1 722,4
12 926,7
3 295,8
3 545,0
25 347,0
3 338,6
21 681,2
19
Total expenses were executed at 99,8 percent of budget provisions approved
for 2013, being provided some savings as a result of efficient internal policy of
budgetary management.
The structure of expenses was dominated by those related to the cost of
personnel (salary payment, mandatory social insurance contributions and the
compulsory health insurance), which represented 78,5 percent. Operational costs of
the institution (electricity, gas, water, security, telecommunications and other
maintenance expenses) represented 7,2 percent, the cost of building material and
technical base –11,1 percent, expenses on business trips – 2,4 percent and expenses
paid as membership fees to international organizations – 0,8 percent.
1.4.
Development of information technology (IT)
Providing information is a priority objective of NCFM for a transition to an
activity under the principles of risk-based supervision and proper performance of
the functions determined by law, including the provision of electronic services for
professional participants and prompt information offering to the public. Within the
institutional and operational strengthening component with support of development
partners, the modernizing of technical concepts and information systems for use of
information technology and infrastructure development was managed by creating
modern systems for information management.
On February 1, 2013 theirs was launched nationally RCA Data System that
allowed the formation of a formal information resources according to the needs of
the insurance companies, providing them with technical and informational support.
The main task of the system is recording, collection, accumulation, updating,
monitoring and analysis of information on insurance contracts, policies RCA and
"Green Card" insured persons, injured persons, files insurance claims and
compensation.
NCFM, in collaboration with BNM has taken steps to create information
system that integrates National Securities Depository Automated Interbank
Payment System with the possibility of monitoring by NCFM and NBM settlement
in securities transactions in order to minimize the risks in the system. Newly
created information system was launched on January 32013 and currently all
settlements in securities transactions are conducted through this system.
In order to ensure protection of personal data of employees, as well as data
stored in electronic format NCFM there was implemented back-up system which is
the method by which it creates backup copies of the operating system and / or files
stored on the electronic carriers. According any event leading to loss of data or
damage critical files necessary for operation of the operating system (via HDD
failure, contacting a virus or accidental deletion of files), this system allows rapid
restoration of the system operating with all installed applications and personal
documents. Back-up system has been implemented both on employee computers in
NCFM, as well as on the physical and virtual servers managed by the Information
Technology Department.
20
In the area aimed at institutional development of NCFM there were continued
reforms related to streamlining and modernizing used the IT systems. Thus, in
order to create facilities and the best possible working conditions, held compare
new computing technique is to replace the obsolete one both morally and
physically. In order to modernize and adjust information systems to the
international standards and technical innovations in the field, they have been
installed on all computers with an centralised antivirus program that enables
monitoring and preventing external virus attacks. In this context, the NCFM
consolidated IT infrastructure, which will allow future expansion of basic
functionalities, namely increasing overall computer performance and reliability
through the implementation of efficient mechanisms for processing and analyzing
information tailored to the needs of current and future NCFM prudential
supervision.
1.5. Information Transparency
Transparency in decision process
In the process of the fulfilment of the goals set by law, and according to the
established competence, the Administrative Council of the NCFM approved 640
resolutions in 2013, including decisions, ordinances and registration protocols for
the regulation and supervision of the non-banking financial market (Table No. 8).
In accordance with legal provisions, the NCFM submitted for publication to the
Official Gazette of the Republic of Moldova all decisions, which according to the
law, are under this regime (decisions and ordinances).
Table No.8 Number of NCFM Council of Administration meetings and structure of
decisions approved
No.
Indicators
1.
Number of meetings of the Council of
Administration
Number of adopted resolutions
2.
3.
4.
Number of adopted ordinances
Number of protocol records
2010
58
Period
2011
2012
59
55
2013
62
307
58
152
352
76
169
423
52
165
340
64
141
The NCFM’s activity plan for 2012 was developed based on the competences
provided by Law no. 192-XIV of 12.11.1998 "On the National Commission for
Financial Markets" under the main policy documents and the non-banking
financial market development Strategy for the years 2011-2014 and was approved
by the NCFM Decision no. 58/7 from 23.12.2011, being placed on the official
website of the NCFM.
In order to ensure information transparency in the development of legislative
and regulatory normative acts and to conduct public consultation of the regulatory
initiatives, the NCFM offered to the non-banking financial market participants and
other interested parties the opportunity to participate in decision making process
and regulatory legal framework development. Prior to approval, all regulations
21
proposed by the NCFM are published on the official website for consultation and
public comments.
The NCFM collaboration with the Council of Experts, which is composed of
representatives of the professional participants on the non-banking financial market
and trade unions, professional practitioners and experts in the field, ensured a
dialogue for consultation on draft legislative and normative acts.
The measures through which information transparency was provided is
presented in the table below:
Table No.9 Indicators on ensuring the information transparency
Indicators
Number of press releases
The number of articles on NCFM activity and nonbanking financial market development
The number of monthly and quarterly newsletters
Number of interviews in newspapers and magazines
Number of participations in TV shows
Number of participation in radio programs
Total:
2010
60
62
2011
76
42
Period
2012
51
61
16
18
4
9
164
16
8
27
8
177
14
11
17
10
164
2013
50
91
15
9
20
10
195
Organization of roundtable and seminars
In order to Achieve the Objectives and Priorities set out in the Strategy of
Non-banking Financial Market Development for 2011-2014 and the Action Plan
for ITS Implementation, the NCFM HAS Carrying out the proposed activities to
Increase the level of professionalism of the non-banking Financial Market
Participants That facilitated the assimilation of knowledge and the economic and
Financial concepts, as well as Their legal rights.
In 2013 NCFM jointly organized by the Chamber of Commerce seminar on
"Corporate Governance" with the support of international financial organizations
for corporate governance in Europe and Central Asia (IFC), attended by
representatives of 21 joint stock companies in the north of Moldova.
The purpose of this action was to elucidate the importance of accession and
implementation of the Code of Corporate Governance. Also, in collaboration with
Soroca Branch Chamber of Commerce and Industry of Moldova and IFC
Partnership Project has organized a seminar on "Corporate Governance. The latest
changes in legislation in the securities market "for representatives of joint stock
companies located in the districts of Soroca, Drochia Donduşeni and Şoldăneşti.
The objective of the seminar was to explain the role of corporate governance in
business development and the need to implement the Code of Corporate
Governance.
NCFM, together with the Ministry of Education and the Center for creative
development of children "Indigo", organized a series of activities to train students
in the field of non-banking financial market attended by representatives of NCFM.
These trainings went under the format of educational lessons attended by students
22
from over 10 high schools in Chisinau. In this training program organized NCFM
Stock Exchange students visit Chisinau.
NCFM, in collaboration with development partners, organized a series of
seminars for employees savings and loan associations to approach the topic: "The
Role of the SCA as bancassurance agent in the insurance market." The main topics
discussed concerned the latest changes and additions to legislation on work as an
agent SCA bancassurance insurance market, methods and techniques to sell
insurance in: agriculture, auto, life, supply management strategies in conjunction
with agent bancassurance.
A series of interviews and meetings with media representatives were held in
connection with the promotion of the Law no. 171 of 11.07.2012 "On the capital
market."
Providing access to public information on request
In order to ensure the public access to collections of laws and regulations,
periodicals and specialized literature on the non-banking financial market, the
NCFM has created a library , and for citizens seeking public information or advice
regarding the financial market – an audience room. Also, the NCFM applies
internal procedures for providing information in the requested format, including in
electronic format via the email address [email protected]
The NCFM hotlines offer advice on the procedure of liquidation of
investment funds, shareholders' rights, rights and obligations of governing bodies
of joint stock companies, savings and loan associations’ activity and other aspects.
Public information through official web page
An effective tool for communication and public information in the process of
regulation and supervision of the non-banking financial market is the official
website (www.cnpf.md), through which the NCFM consults the opinion of the
financial market participants, citizens and other interested parties in the decision
making process and develops a flow of information with a high degree of
complexity, with messages for specific categories of users. A number of draft laws
and regulations related to the non-banking financial market were presented to the
public attention, as well as useful information on the participants on the nonbanking financial market, statistical and analytical information and other public
information.
23
Diagram No. 2 Dynamics of accessing the NCFM's web-page in 2013
30000
25000
20000
15000
10000
5000
0
January
Unique visitors
9225
Number fo visitors 19294
Februar
March
y
April
May
June
July
August
Septem
Novem Decemb
October
ber
ber
er
8462
8825
7967
8333
7328
5992
4890
5854
7496
8174
7541
18679
20886
20404
19734
17126
16023
14533
17031
20910
25425
23348
Unique visitors
Number fo visitors
The NCFM’s future work in this area includes developing permanent dialogue
with professional participants, public authorities, the civil society and other
participants on the matters concerning the development of the non-banking
financial market and the services offered on this market. In this context, the NCFM
will use existing communication channels and trainings and will identify new
opportunities to increase transparency and development of the non-banking
financial market, product promotion and protection of financial services’
consumers.
II.
2.1.
Achievement of Activity Objectives of the National Commission for
Financial Markets
Regulatory activity
During 2013, the NCFM ensured the implementation and the improvement of
the current legal framework and normative acts by amending them (Table no. 10).
Tabel no. 10 Regulatory activities
Indicators
Drafts of legislative acts or drafts on amending the legislative acts
Normative acts approved or amended, total, including:
- regulations on internal organization and functioning of NCFM
- regulations on general principles of the non-banking financial
market activity
- in the field of securities
- in the field of insurance
- in the field of credit history bureau’s activity
- in the field of savings and credit associations
- in the field of microfinance
Revoked normative acts, total
2010
1
14
6
2
2
1
1
2
8
Activity period
2011
2012
1
8
18
21
5
5
1
2
3
8
1
5
7
6
1
4
2013
10
15
5
2
7
1
6
24
The regulatory activity continued prioritizing the development of the
regulatory framework and rules for its implementation, solving problems faced by
market participants (Annex No. 2).
Regulations on organization and functioning of NCFM
In order to ensure the efficient activity of the NCFM in accordance with
legal provisions, the following regulations were approved:
- Amendments to the annex to the Parliamentary Decision no. 276 of
06.12.2012 on the approval of the NCFM’s budget (Parliament Decision no.
35 of 07.03.2013);
- Amendments to the NCFM Decision no. 13/12 of 01.04.2010 "On the Expert
Council under the National Commission for Financial Markets" (NCFM
Decision no. 12/12 of 22.03.2013);
- Confirmation of the Order on the distribution of functional responsibilities of
the deputy chairmen’s activity and that of the members of the administrative
council (NCFM Decision no. 8/11 of 01.03.2013; NCFM Decision no. 34/8
of 19.07.2013);
- Amendment of the National Commission for Financial Markets no. 26/13 of
28.05.2009 “On the regional representatives of the NCFM” (NCFM
Decision no. 59/13 of 14.12.2013);
- Amendment of the structure and staff (NCFM Decision no. 49/9 of
18.10.2013);
- Changes in the structure of certification commission for professional
participants on the financial market (NCFM Decision no. 25/15 of
07.06.2013; NCFM Decision no. 38/14 of 08.08.2013);
- Amendments to Internal Regulation of the National Commission for Financial
Markets (NCFM Protocol no. 54/14 of 08.11.2013);
- Approving the Activity Plan of the National Commission for Financial
Markets for 2014 (NCFM Decision no. 61/9 of 27.12.2012).
Regulations in the securities field
The parliament adopted the Law no. 171 of 11.07.2012 “On the Capital
Market” in order to ensure the sustainable development of the capital market and
transform it into an effective tool for attracting and redistributing investments. The
law came into force on 14.09.2013.
As it was developed in accordance with EU Directives in the field of financial
instruments and IOSCO principles, the Law establishes the legal framework for
capital market regulation. The norms of the law regulate the activity of the law
established the legal basis for the regulation of relations in the capital market. The
law regulates the activities of investment firms, securities, public offerings,
takeover bids, capital market infrastructure, establishes disclosure requirements in
order to maintain high standards of capital market activity and the creation of
conditions for financial investments. The law also stipulates the conditions
25
regulating the licensing of capital market activities, surveillance and investigation
activities in the market.
A transition period of 18 months was provided for maintaining the current
provisions of the relevant regulatory framework in this field. During the same
period of time the securities professional participants as well as the issuers and
potential investors have to comply with new activity regulations with the aim to
obtain an unlimited license, to familiarize with the opportunities of the legal
framework in attracting investments and to invest in financial instruments.
Amendments to the Regulation on the National Securities Depository of the
Republic of Moldova have been operated by means of the NCFM Decision no.
46/9 of 23.09.2013. There were operated with the aim to bring clearing and
settlement methods in securities transactions, in conformity with the model
described in the Concept on integration of the National Securities Depository
(NSD) in the Automated Interbank Payment System, approved by the NCFM
Decision no. 31/5 of 28.07.2011.
In order to develop the secondary market for government securities, to
diversify the range of financial instruments traded on the stock exchange (the
regulated market) and to increase investors’ access to state securities, by means of
the NCFM Decision no. 59/12 of 12.14.2013 the Concept on the general
mechanism of trading government securities with a maturity greater than one year
in the stock market.
Regarding this concept there are actions necessary to be performed by each
institution involved to achieve the objective of ensuring the conditions for trading
government securities with a maturity greater than one year in the stock market,
including the technical connection between the NSD and the Entry System in the
accounts managed by the NBM.
Regulations in the insurance field
In order to comply with the provisions of the Law no. 407-XVI of 21.12.2006
“On insurance” and of the Law no. 414-XVI of 22.12.2006 “On Compulsory
Motor Third Party Liability Insurance”, as well as with the aim of insuring
stability, transparency, security and efficiency of the insurance market, the
following decisions were adopted:
- NCFM Decision no. 10/9 of 15.03.2013 “On approval of the Regulation on
the conclusion of transactions by insurers (reinsurers)” that aims to align the
secondary regulatory framework in the field of insurance to the provisions of the Law on
Insurance especially concerning the approval by the supervisory authority of large
transactions, where the insurer is borrowing more than 10% of social capital and invests
more than 15% of the equity of the insurer (reinsurer) in the capital of other companies;
- NCFM Decision No. 26/10 of 06.13.2013 "On the premiums of compulsory motor
third party liability insurance" which seeks to regulate the manner of determining the
insurance premium and provides for the actuarial methods applied to calculate the
insurance premium base and the related rectifying coefficients, the load factor amount of
the insurance premium, as well as the insurance premium amount and rectification
coefficients value calculated based on actuarial methods;
26
- NCFM Decision no. 60/5 of 20.12.2013 “On approval of the Regulation on
differentiation of sanctions applied to the insurer (reinsurer) or insurance and/or
reinsurance broker”;
- NCFM Decision no. 50/7 of 30.11.2012 (in force as of 10.05.2013) “On
amendment of the Regulation on the method of determining the depreciation for
damage to vehicles, approved through the NCFM Decision no. 13/1 of
03.04.2008”;
- NCFM Decision no. 2/10 of 24.05.2013 “On amendment of the NCFM
Decision no. 50/8 of 30.11.2012 on electronic processing of compulsory motor
third party liability insurance documents”;
- NCFM Decision no. 23/11 of 24.05.2013 “On amendment of the NCFM
Decision no. 45/5 of 16.10.2009 on the approval of the structure and content of the
specialized reports of insurance (reinsurance) intermediaries”;
- NCFM Decision no. 25/12 of 07.06.2013 “On amendment of the NCFM
Decision no. 50/8 of 30.11.2013 “On amendment of the NCFM Decision no. 50/8
of 30.11.2012 on electronic processing of compulsory motor third party liability
insurance documents”
- NCFM Decision no. 32/7 of 05.07.2013 “On amendment of the Regulation
on implementation of the bonus-malus system to the compulsory motor third party
liability insurance, approved by the NCFM Decision no. 13/2 of 03.04.2008”.
Regulations in the microfinance field
In order to develop the necessary legal framework to protect the economic
interests of consumers by creating fair conditions for obtaining consumer credit as
well as by establishing standards of lenders’ responsible behaviour regarding the
provision of loans to consumers, the NCFM, in collaboration with the Ministry of
Economy and other interested institutions, participated in the working group on the
development and approval of the Law no. 202 of 12.07.2013 "On consumer credit
contracts" (Official Gazette, 2013, no. 191-197, art. 619).
Given the major objective of regulatory framework development on the nonbanking financial market, the regulatory activity in 2013 is directed towards the
consolidation of the regulation and supervision system of the non-banking
financial sector, the harmonization of the legal framework subordinated to the new
legislation on the non-banking financial market supervision with the acquis
communautaire, including the accomplishment of the following actions: promoting
the draft Law on voluntary pension funds, the draft Law on non-banking financial
organizations, the draft Law amending the Law no. 122-XVI of 29.05.2008 "On
Credit History Bureau”, draft Law for amending a number of legislative acts (Law
no. 59-XVI of 28.04.2005 "On leasing" and Law no. 192-XIV of 12.11.1998 "On
the National Commission for Financial Markets"), the draft Law amending the
Law No. 1134-XIII of 02.04.1997 "On Joint Stock Companies", as well as
developing normative acts subordinated to the Law. 171 of 11.07.2012 "On the
capital market".
27
2.2.
Authorization and licensing activity
Through the authorization activity performed during 2013, the NCFM
provided the execution by applicants of mandatory conditions and specific
requirements of the non-banking financial market, as well as the verification of
compliance in the development of its activity.
In accordance with laws and regulations, during the reference period the
licensing and the authorization activity referred to:
- the registration of securities issued by joint stock companies of Moldova
and granting authorization to their reorganization;
- the granting, withdrawal, suspension, reissuance of licenses and
authorizations of professional participants (Annex No.3), granting authorization to
their reorganization;
- issuing notices in cases established by law, on the attainment of qualified
participations in the statutory capital of professional participants, on amendments
to the foundation documents and in the State Register of Legal Entities (state
registration of professional participant, its branches and representative offices and
in other cases);
- the registration of public offerings of securities on the secondary market, as
well as their results;
- the confirmation of the administrators of savings and credit associations.
Further information (office, administrators, contact details, type of activity,
etc) regarding professional licensed participants of the financial market is placed
on the web pages of NCFM, in the section “Supervised entities”.
Authorization activity on the securities market
According to the Law on the securities market, during 2013 the NCFM has
registered:
- shares placed on the establishment of 7 joint stock companies;
- shares placed in 62 additional issues;
-authorizations of reorganization by merger, dismemberment or
transformation of 42 joint stock companies (Annex No.4).
- public offering prospect of BC ”EuroCreditBank” JSC on the primary
market.
As a result of the examination of applications submitted by 13 joint stock
companies in order to amend statutory capital, securities conversion, and 11
requests on changing the issuers name and address, there were made changes in the
SSR. Securities of 37 companies were removed from the SSR.
As of 31.12.2013, 42 entities have held licenses for carrying out professional
activity on the securities market, including the MSE, the NDS, 10 independent
registrars, 2 joint stock companies which keep independently shareholders’
register, 5 brokerage companies, 17 dealer companies, 5 companies of evaluation
of securities and assets related to them. In the data of State Register of licenses
issued, suspended and withdrawn there were made the following amendments:
28
Table No. 11 Information on amendments to the data of State Register of licenses issued
on the securities market
Indicators
2011
4
2
1
1
2
39
Licenses granted
License reissued
Licenses withdrawn
Licenses excluded
Licenses expired
Licenses in force at the end of year
2012
2
5
1
1
0
42
2013
2
3
0
0
2
42
Similarly to 2012, in 2013 there were granted 2 licences of which one to the
professional participant established in 2013 and one licence to the professional
participant whose licence issued previously has expired.
During 2013, there were registered 17 public offerings on the secondary
securities market.
The type of public offerings on the secondary securities market registered
during the period 2011-2013 is presented in the table below:
Table No. 12 Indicators on public offerings on secondary securities market
2011
Type of public offering
units
2012
units
2013
17
thousan
d MDL
18772,3
2013 compared
to2011
thousan
%
d MDL
11694,1
265,2
Total:
According to voluntary /
mandatory criteria
voluntary public offerings
mandatory public offerings
According to sale /
purchase/ competitive
criteria
selling public offerings
purchasing public offerings
34
thousan
d MDL
28443,9
units
22
thousan
d MDL
7078,2
10
24
7474,0
20969,9
12
10
2245,8
4832,4
9
8
13373,6
5398,7
11127,8
566,3
595,7
111,7
10
23
10098,0
18344,1
3
19
112,5
6965,7
1
16
0
18772,3
-112,5
11806,6
- 100
269,5
competitive public offerings
1
1,8
0
0
0
0
0
-
The data above includes the transactions volume of 3 public offerings
registered during 2012 and completed in 2013, as well as the transactions volume
performed as a result of 17 public offerings registered and completed in 2013
(Annex no. 5).
The reduction in the number of public offerings in 2013, similarly to 2012, is
explained by:
- reduction of the number of joint stock companies whereat the control
packet holders are obliged, according to art. 84 par. (5) of the Law on
Joint Stock Companies, to initiate the mandatory takeover offer (only the
holders of securities issued by joint stock companies that meet the criteria
set in art. 2 par. (2) of the Law on joint stock companies)
- completion of the concentration of the control packet in joint stock
companies which meet the criteria set in art. 2 par. (2) of the Law on joint
stock companies.
29
Also, the reduction of the number in public offerings on the secondary market
in 2013 did not push down the volume of transactions performed by means of
these public offerings (Annex no. 6).
Diagram No. 3 Evolution of public offerings on secondary
market in the period 2011 - 2013
Number of public offerings on secondary market
Volume of public offerings on secondary market (thousand, MDL)
34
28.4
22
18.8
17
7.1
2011
2012
2013
Thus, the transactions volume performed through the mentioned public
offerings registered an increase of 11694, 1 thousand MDL or 265.2% compared to
2012.
In 2013, through registered public offerings there were traded securities of 15
companies with various types of activity, the prevailing issuers were operating in
the field of agriculture.
Authorization activity on the insurance market
In terms of the Law no.407-XVI of 21.12.2006 ”On insurance” insurance /
reinsurance companies may obtain a license for an unlimited period, and insurance
intermediaries - for a period of 5 years in order to conduct professional activity on
the insurance market. As of 31.12.2013, 91 entities have been licensed to carry out
professional activity on the insurance market, including 16 insurance companies,
75 insurance and/or reinsurance brokers.
According to data of the State Register of licenses issued, suspended and
withdrawn, within the insurance authorization activity there were made
amendments, shown in the table below:
Table No. 13 Information on amendments to the data of State Register of licenses
issued, suspended and withdrawn on the insurance market
Indicators
Licenses granted
Licenses reissued
Licenses withdrawn
Licenses considered invalid
License expired
Entities licensed at the end of year
2011
16
79
7
5
8
86
2012
16
127
5
3
3
94
2013
26
158
9
3
17
91
During the reporting period, the NCFM granted 26 licences for the right to
carry out intermediation activity in insurance and/or reinsurance, withdrew licenses
in the field of insurance activity of „ASIGURĂRI GENERALE VITORIASIG”
30
JSC and CMA „EXIM-ASINT” JSC, and in the field of intermediation activity in
insurance and/or reinsurance of „STARASIG-BROKER DE ASIGURARE” Ltd,
BAR „EXTRA-ASIG” Ltd, BAR „ASIGARC” Ltd, BAR „SEMASIG-PRIM” Ltd,
BAR „INTELMOD-ASIG” Ltd, BAR „GENERAL BROKER” Ltd and ÎMBAR
„OMERLANE INSURANCE” Ltd.
In cases set by law, the NCFM issued 31 prior notices under the Law on
insurance no.407-XVI of 21.12.2006, including 25 notices for state registration of
amendments to the founding documents and data contained in the State Register of
legal entities, 3 notices for the acquisition, reduction or increase of qualifying
holdings in the insurers’ statutory capital, 2 notices on delegation of persons
holding responsible positions and 1 notice on the approval of Methodology of
general and administrative expenses allocation.
Authorization activity in the microfinance sector
In accordance with the provisions of the Law on savings and credit
associations no. 139-XVI of 21.06.2007, in 2013, the NCFM issued 300 notices for
state registration of the savings and credit associations statutes in new edition. As a
result of liquidation, 5 associations obtained the notice of the NCFM regarding the
exclusion from the State Register of the legal person.
As of 31.12.2013, 340 entities hold the license for savings and credit
associations activity, of which: 273 associations - A category license, 65
associations - B category license and 2 central association.
According to the data of State Register of issued, suspended and withdrawn
licenses, in the authorization activity of savings and credit associations there were
made amendments according to the table below:
Table No. 14 License activity according to the State Register of issued, suspended and
withdrawn licenses of savings and credit associations
Indicators
Licenses granted
Licenses reissued
Licenses suspended
Licenses withdrawn
Licenses expired
Licenses in force at the end of year
2010
4
2
1
399
Activity period
2011
2012
4
2
1
2
3
26
17
1
377
361
2013
53
42
3
21
340
In accordance with the provisions of the Regulation on the requirements for
the savings and credit associations’ administrators, approved by the NCFM
Decision no. 63/6 of 25.12.2007, the NCFM has examined the requests of 17
savings and credit associations holding a B license, which have obtained the
confirmation on the appointment of administrators as specified by the legislation.
2.3.
Monitoring and control activity
3
4 savings and credit associations holding A license categories, in 2013, based on the application submitted,
received B category licenses, and to one association holding B license category, A license category has been granted
31
The supervisory activity carried out by the NCFM aims to ensure the
protection for investors, the observance of the legislation, the prevention of abuse
and fraud, the observance of prudential norms, the application of measures and
sanctions for legislation violations, and the promotion of confidence in the nonbanking financial market. In order to ensure the observance of the legislation by
the non-banking financial market participants, the NCFM performed the following
activities:
- the analysis and assessment of data and information from the
supervised entities reports submitted in conformity with the legislation;
- on-site controls;
- the control of licensing conditions observance;
- the approval and the publication of decisions as results of controls;
- the analysis of mass-media information in order to accurately report
to investors;
- analyzing and resolving complaints from the non-banking financial
market participants;
- prescribing measures regarding the unconditional observance of the
legal and regulatory framework;
- the application of financial remedy;
- the application of contravention.
The supervision of professional participants represents an important NCFM
activity and is carried out by checking the financial and specialized reports
submitted in conformity with the legislation as well as on-site controls of the
supervised entities.
Monitoring activity of securities issuers
The monitoring activity of securities issues concerning public disclosure of
information by the joint stock companies, as well as events and actions affecting
the economic and financial activity and other disclosure issues, is aimed at
minimizing the investors’ risks and protection of shareholders’ rights by ensuring
transparency in the activity and functioning in accordance with the corporate
governance principles.
The monitoring activity of securities issuers conducted by the NCFM
according to its legal responsibilities included the following:
- the analysis and the assessment of data and information from the securities
issuers’ reports submitted in accordance with the legislation and posted on the
NCFM’s official web-site;
- the analysis and assurance of compliance with the legislation regarding
securities market as a result of notifications regarding corporate conflicts.
A number of cases of wrongdoing on behalf of securities issuers were
established as a result of the monitoring activity, particularly relating to violation
of deadlines for annual reports submission, requirements towards information
32
disclosure and other violations that led to the application of a number of sanctions
and fines.
Table No. 16 Monitoring activity of Joint Stock Companies
Indicators
Number of JSC obliged to disclose publicly the information in
the mentioned period for the previous operational year
Number of annual financial reports
Number of warnings and notification letters regarding the
necessity to make corrections in the submitted reports
Number of JSC required to present and publish annual financial
reports
Number of JSC whose bank accounts were blocked due to nonpresentation of annual financial reports
Number of officials sanctioned (administrative sanctions) for
disregarding legal requirements
Administrative sanctions received (thousand MDL)
2011
681
(for 2010)
593
132
Activity period
2012
2013
650
601
(for2012)
(for
2012)
560
528
244
160
73
82
88
65
73
73
109
82
125
169,0
112,1
142,90
In order to ensure the observance of the legal provisions and shareholders’
protection, NCFM has given notice to officials of 61 JSC regarding the nonconvocation of general meeting of shareholders in 2013.
Monitoring and control activity on the insurance market
The supervision of the insurance market professional participants included the
achievement of the main objectives related to safeguarding the rule of law,
especially aspects related to:
respecting prudential requirements and licensing conditions;
the financial stability of the insurer (liquidity coefficient, minimum and
available solvency margin, coverage of the mathematical and technical reserves
with allowed assets);
the procedures of the creation and the maintenance of technical reserves
for each category and class of insurance, for which contracts were signed;
the placement into assets considered appropriate and admissible for the
insurance reserves and respecting the norms of reserves distribution; the activity of
investing the insurance funds and reserves;
establishing the maximum limit of the insurer (reinsurer) liability for the
assets insured or reinsured;
observing the legislation while registering and examining claims,
establishing the amount of insurance compensations;
application of base insurance premiums and corrective coefficients for
local and external MTPL;
observance of legal acts regarding preventing and combating money
laundering and terrorism financing;
activity of intermediaries in insurance/reinsurance activities;
33
administration and utilization by the National Bureau of Motor Insurers’
of the available finances of the Compensation Fund and Road Traffic Victims
Protection Fund.
The supervision of professional participants’ activity on the insurance market
has been performed by monitoring and analyzing their financial and specialized
reports, submitted in accordance with the legislation, including:
reports regarding the simultaneous activity and performed transactions
for life insurance and general insurance;
assets’ balance that are aimed to cover technical reserves and the
minimum solvency margin, related to general insurance and respectively to life
insurance, and the incomes resulting from capitalizing on these assets.
The indicators registered as the result of the supervisory activity of the
professional participants at the insurance market are presented in the table below:
Table No. 17 Indicators of supervisory activity of professional participants on the
insurance market
Indicators
Financial statement of the insurance companies
Statistical report no.1 – Insurance
Specialized report on main activity of the insurer
Report on technical reserves of the insurer
Report on compliance with solvency normative reserves and
liquidity coefficient of the insurer
Monthly report on MTPL insurance and international insurance
“Green Card”
Financial statement and specialized report of insurance brokers
Total of specialized and financial reports:
Number of prescriptions issued to officials on increase of statutory
capital according to legal requirements
Number of prescriptions issued to officials on equity (net assets)
increase according to legal requirements
Number of prescriptions issued to officials on reporting
requirements
Initiation of financial recovery procedures
Activity period
2011
2012
2013
95
92
32
95
88
67
95
76
67
95
76
67
95
76
67
364
336
291
564
1403
695
1374
698
1289
2
-
-
2
-
-
3
3
5
1
1
2
The on-site controls of professional participants on the insurance market
revealed numerous offenses that resulted in the application of a number of
sanctions and fines, presented in the table below:
Table No.18 Indicators of supervisory activity of professional participants on the
insurance market
Indicators
Number of complex controls
Number of thematic controls
Number of approved decisions
License withdrawal
2011
12
15
27
7
Activity period
2012
2013
15
4
38
77
22
37
3
5
34
Number of prescription on legislation observance
Documents submitted to law enforcement bodies
Sanctions applied and collected to state budget (thousand MDL)
Suspension of operations on settlement accounts
Number of decisions on application of contraventions
37
2
212,7
1
28
27
1
168,1
51
37
5
160,0
-
In 2013 the NCFM performed 81 complex and thematic controls and on-site
inspections checking the activity conducted by professional participants at the
insurers market. The materials from the control of 5 entities have been submitted to
law enforcement bodies.
Monitoring and control activity of microfinance sector
The monitoring of savings and credit associations and microfinance organizations
has as a main purpose the compliance of entities with legal provisions, the prevention of
abuses and frauds as regards to other entities and beneficiaries of services.
An important instrument used in the process of supervising savings and credit
associations are the annual financial and specialized reports received by the NCFM
through the Information Management System (IMS). The reported data is presented in
the following table:
Table No. 19 Indicators of supervisory activity of professional participants on the
microfinance sector
Indicators
Annual financial statements
Specialized quarterly reports
Specialized monthly reports
Total financial and specialized reports
Warnings on observance of financial prudential norms and
corrections of submitted information
Suspension of operations on settlement accounts
Number of prescriptions on conformity with the legislation,
including the observance of financial prudential norms
Number of decisions on contraventions application
Amount of administrative sanctions (thousand MDL)
2010
384
1103
547
2034
360
Time period
2011
2012
375
357
1106
1075
545
553
2026
1985
221
173
2013
329
1035
558
1922
148
82
31
13
8
7
18
4
39
122
150,4
32
70,8
52
69,4
21
29,0
As a result of the policies designed to ensure compliance with the provisions
of the legislation and to protect the legal rights of the SCA members, there were
issued 148 warnings that represent a 14.5 percent decrease compared to last year.
Similarly, there was registered a decrease of the number of sanctions, such as the
suspension of the operations on SCA accounts (decreased by 43 percent). The
number of prescriptions on conformity with the legislation, including the reporting
obligation recorded an approximately two-fold increase compared to last year.
In 2013, the NCFM conducted 24 on-site controls verifying the activity of
SCA. As a result, the NCFM submitted upon examination materials regarding the
35
activity of 3 entities to the law enforcement bodies. Surveillance activities at the
SCA established legal deviations, including the non-compliance with financial
prudential norms, the manner of conducting general meetings of association
members and of appointing directors, financial reporting requirements and other
violations that led to the application of a range of measures and sanctions presented
in the table below:
Table No. 20 Indicators of supervisory activity of savings and credit associations
Indicators
Number of complex controls
Number of thematic controls
Number of approved decisions
License withdrawal
License suspended
Number of warnings to the administrators
Number of prescription on legislation observance
Number of decisions on application of contravention
sanctions
Amount of contravention sanctions received (thousand
MDL)
Documents submitted to law enforcement bodies
Suspension of operations on bank accounts
2010
31
1
21
0
1
1
20
18
Activity period
2011
2012
33
7
8
17
37
324
26
2
0
3
2
3
36
29
36
29
2013
6
18
265
6
3
10
19
25
163,8
20,2
14,0
9,35
2
5
4
0
3
2
3
0
In the process of monitoring the execution of the decisions in respect with the
results of controls performed in 2013, there was determined that 13 decisions were fully
implemented and 13 more decisions have been partially implemented are to be monitored
and implemented in 2014.
Perspective Vision
The assurance of the stability of the non-banking financial system is a priority
for the NCFM’s supervisory activity, which aims to continue the consolidation of
institutional capacities in order to put into practice the following:
supervisory principles based on the risk evaluation and management
systems;
prudential standards based on the best international practices;
proper capacity development regarding off- and on-site supervision;
investors’ protection assurance through elaboration of efficient
supervisory mechanisms, specific to each non-banking financial market sector;
organization of trainings and seminars for improvement of the
NCFM’s specialists and inspectors regarding the monitoring activity of the
professional participants, at the highest level possible.
4
5
12 decisions were approved as a result of checks carried out at the end of 2011
3 decisions were approved as a result of checks carried out at the end of 2012
36
2.4. Protection of the rights of non-banking financial market participants
Consumer protection in the non-banking financial market constitutes a
priority for the NCFM, its activity being oriented at ensuring of transparency of
information regarding the professional participants’ activity and at raising the
financial culture and education of the population, which can serve as a base for
incentivising investment and stimulating the development of the financial market
as a whole. The NCFM’s responsibilities consist in ensuring access to
communication systems, development of actions regarding informing and
educating the public financially, ensuring compliance with the legislation,
development of regulating acts according to the best practices of consumer
protection as well as the efficient cooperation with public authorities,
nongovernmental organisations and participants at the non-banking financial
market in the area of consumer protection.
During the year 2013, NCFM continued the implementation of the Strategy
regarding non-banking financial market development for 2011-2014 and its
associated Action Plan, one of the objectives of which is to ensure protection of the
rights and interests of non-banking financial market participants. In this context,
one of the main purposes of the NCFM is decisional capacity building and
supervision of non-banking financial market participants for development of social
responsibility and creation of an environment that allows consumers to exercise
their rights and benefit from them.
A first step to achieve this goal was to inform the public about the
amendment and completion of the legal framework on financial non-banking
market in order to align it with European and international standards. During 2013
the provisions of the Law No. 171 of 11.07.2012 "On the capital market", in force
since 09/14/2013, were discussed actively with the market participants. The aim of
this law is to create a legislative framework necessary for the development of the
capital market by creating an adequate mechanism for the protection of the rights
and interests of investors and consumers of financial services.
In the same order, a series of information activities were conducted on the
amendments made on the insurance legislation, adopted by Law No. 94 of
26.04.2012 amending and supplementing Law No. 407-XVI of 21 December 2006
"On insurance" and Law No. 414 - XVI of 22 December 2006 "On mandatory
insurance of civil liability for damage caused by vehicles."Amending these laws
sought to improve the regulatory framework in the insurance industry to support
the development and evolution of the internal market in insurance services,
improve the quality of products and services and achieve a higher level of
consumer protection. A document called the "Guide of the Insured" has also been
approved and published on the official website of the NCFM. The production of
this guide started from the need to provide, for those interested and involved in the
insurance, material information focused mainly on the practices in the insurance
field in Moldova, taking into account the requirements of adaptation to
international standards. From this perspective, the Guide of the Insured brings
37
additional insurance information and is aimed especially for people who want to
familiarize themselves with this important sector of the economy. At the same
time, the guide is directed to those people who want to know the characteristics of
different insurance products, so they can act knowingly later.
In the month of May 2013, NCFM jointly with the International Insurance
Supervisors (IAIS), organized the Regional Seminar for insurance supervisors in
Central and Eastern Europe, Central Asia and Transcaucasia regarding protection
and consumer education. The event was part of the NCFM’s activities agenda in
protecting consumer rights and interests.
The NCFM also organized 2 international conferences on "Corporate
Governance" in which topics regarding protection of shareholders’ rights and
interests were discussed.
During 2013, the NCFM conducted a campaign for informing the public on
the launch of automated RCA Data. Thus, multiple press conferences and
informative programs on public TV stations have been organized. These have been
attended by representatives of the NCFM that provided explanations regarding
priorities of the RCA Data system. At the same time a set of expressive and
memorable commercials were created. The NCFM representatives participated in
11 TV and radio programs dedicated to informing the public on the activity of the
NCFM. During 2013 over 50 press releases have been developed and posted on the
official website of the NCFM and in the Capital Market newspaper, regarding the
NCFM activities and events in the non-banking financial market.
The flow of documents received by the NCFM during 2013 increased from
the previous management period. The structure of the received stream of
documents is shown in the following table:
Table No. 21 Structure of the flow of documents received by NCFM
Indicators
Reports of professional participants
Other documents and appeals received
from non-banking financial market
participants
Claims (requests) submitted by individuals
Documents and appeals of public entities
Documents and appeals of enforcement
bodies
Other documents
Total:
2010
6816
4708
Time period
2011
2012
5853
6993
6151
5879
2013
6850
7833
318
419
597
381
415
529
406
449
409
815
485
618
1434
14292
976
14305
943
15079
1343
17944
The complaints received by the NCFM according to the field of activity are
structured as follows:
Table No. 22. Structure of received complaints
Indicators
Complaints on the assurance of the shareholders’ rights and the
supervision of legislation observance by the professional
2011
96
Activity period
2012
141
2013
131
38
participants on the securities markets
Complaints on the procedure of investment funds liquidation,
financial management companies, savings and credit
associations and microfinance organizations
Complaints from beneficiaries of insurance services
97
58
63
188
207
621
During 2013 the NCFM recorded 3 times more petitions of consumers of
insurance services. The significant increase in the number of complaints
resulted in cessation of payments by the International Insurance Company
"ASITO" SA based on the pension insurance contracts signed in the period
1994-2005.
However, a large number of petitions received as a result of failing to
fulfil its obligations to pay compensation insurance by the insurance company
"EUROASIG GROUP" SA, on whose name a financial remedy procedure
was opened.
Thus, the number of complaints received from beneficiaries of insurance,
besides the cases aforementioned, was 199, which is in line with the previous
years’ number.
The outgoing correspondence in 2013 stands at 5785 documents, which
represents 1060 units less than in 2012.
2.5. Legal activity
During the year 2013, NCFM’s legal activity aimed the creation of protection
measures regarding the legal rights and interests of consumers of non-banking
financial market services, and raising the standards and methods of regulating and
supervising the financial market participants in order to ensure its stability
efficiency, through implementing the following activities:
Providing legal assistance
During the reference period legal assistance was provided in developing,
modifying and completing the non-banking financial regulations, including legal
expertise to draft orders, resolutions, ordinances, protocol entries, cooperation
agreements at national and international levels and normative acts developed by
the NCFM. As part of surveillance and control activity, legal assistance has been
granted in the process of application of the legislation on violations in the nonbanking financial market, ensuring accountability in the penalizing procedure.
Representation of NCFM interests
In accordance with the competences established by the law, during 2013 the
NCFM participated in about 130 lawsuits, in the role of: the applicant - 17 cases;
respondent - 25 cases; intervening - 45 cases; public authority to submit conclusions 5 cases; legal assistance administrators ex officio – 1 case; ascertaining agent - 37
cases.
39
The object of disputes in which the NCFM was involved during this period
refers to the actions for annulment of certain administrative acts issued by the NCFM,
which ordered the withdrawal of licenses for carrying out professional activity on the
financial non-banking market, acts for the modification / approval / repeal of certain
regulations, individual administrative acts as well as relating to the invalidity of
securities transactions in the securities market and issues aimed at protecting the rights
of participants in the non-banking financial market. Solutions to the processes of the
courts that the NCFM has been involved in, are presented in the table below:
Table No. 23. Resolutions of litigations in which NCFM has been involved
Indicators
Activity period
2011
2012
1
1
2010
5
Actions initiated by NCFM,
rejected
Actions initiated by NCFM,
accepted
Actions against NCFM, rejected*
Actions against NCFM, accepted*
2013
1
18
4
5
2
18
2
17
5
15
2
15
3
*The actions initiated by the NCFM include the appeals against the decisions in the contravention procedure.
Following the NCFM’s participation in litigations examining the NCFM’s
acts, in most cases they were assessed as thorough and lawful and, therefore, the
claims of parties against NCFM were rejected.
Diagram No.4 Dynamics of the litigations wherein NCFM was involved during
2009-2012
80
69
70
60
47
50
2010
37
40
30
20
25
24 24
29
32
23
19
2011
32
2012
19
6
10
12 11
9
2013
0
Administrative
Litigations
Economic Litigations
Contraventional
Litigations
Other Litigations
Measures applied in contravention offenses
Analyzing the violations on the non-banking financial market, there is a
significant increase in the number of offenses applied during 2013 compared with
2012.
One of the factors that contributed to the increase in administrative sanctions
imposed in 2013 is the expansion in the number of cases of no show or late
40
submission by financial market participants of reports established by legislation.
We note that about 70 percent of all fines remain to be composed by offenses
committed by the failure or late submission of reports (art. 303 of the Code of
Administrative Offences of the Republic of Moldova no. 218-XVI from
24.10.2008).
However, the number of violations admitted on the insurance market has
significantly decreased due to the implementation of information system RCA
Data.
The prompt sanctioning of violations committed by the participants in the
non-banking financial market aims at correcting the behaviour of subjects that
violated the rule of law so that in the future similar cases can be prevented.
During the reporting period, 259 facts showing elements of violations have
been recorded on the non-banking financial market. 228 official reports of offenses
were written, the total fines amounting to 603 300 lei (Appendix 7).
During 2013, in order to recover the amounts received from fines imposed by
the sanctioning decisions in contravention proceedings, 19 sanctioning decisions
for forced enforcement were sent to the offices of the judicial executors.
Offences recorded in the non-banking financial market and the measures
applied are presented in the table below:
Table No. 24 Information on the contravention sanctions
Non enforced
minutes, total
Applied fines, thousand
MDL
No. of
minute
s
Field of
activity
by
NCFM
Enforced
minutes, total
No.
Ceased
Amount,
Forced executions offences/Replac
thousand
offices
ed sanctions
MDL
measures
*substituted by
court decisions
Amount,
in fines with the No. thousand
double amount
MDL
No.
Amount,
thousand
MDL
No.
No.
Amount
427200
110
166000
40
114900
19
60500
2
19
54400
47
84700
45
38850
2
6200
2
6200
-
-
-
Insurance
31
91400
29
38900
2
8000
1
4000
-
1
4000
Total
228
603300
184 *243750
44 129100
22
70700
2
20
58400
Securities
market
150
Savings and
loans
associations
*according to article 34 para.(3) from the Contravention Code of the Republic of Moldova, the offender has the
right of paying half of the imposed fine if the money are transferred within 72 hours of receiving the penalty order.
Satisfying this condition it results in the full execution of the penalty.
Diagram No.5 Information on penalties offenses in 2011-2013 (the non-banking
financial market areas).
41
160
140
150
139
120
97
100
80
77
Securities
72
60
51
40
SCA
47
31
27
Insurance
20
0
2011
2012
2013
Cooperation with the law enforcement bodies
During the year 2013 the NCFM exploited the opportunities of cooperation
with law enforcement bodies.
Thus, based on its competences, the NCFM submitted to the law enforcement
and justice bodies materials on the supervision of the non-banking financial market
for examination, according to their competences, including: NAC – 31
notifications, to the General Prosecution – 46 notifications, Ministry of Internal
Affairs – 18 notifications, Ministry of Justice – 32 notifications, as well as more
than 130 acts to the courts of law.
Particular importance was given to the examination and settlement of
complaints and petitions received from investors and consumers of the nonbanking financial services in order to identify the most common problems they
face and to take the measures necessary to ensure avoidance of such problems in
the future.
The main objectives of legal activity remain to be further promotion of
uniform application of the law in the non-banking financial market by improving
the forms and methods of providing legal assistance, quality assurance of legal
assistance, including improving the quality of representation of the NCFM in
relations with other public authorities, market participants, law enforcement
entities, other legal bodies and individuals, as well as strengthening and expanding
the collaboration with them, and the promotion legal education and culture of the
population.
2.6.
Certification of the Non-banking Financial Market Specialists
The certification procedure of the non-banking financial market specialists
and auditors is established according to the Regulation on certification of the
specialists of professional participants on the non-banking financial market,
approved by the NCFM Decision no.44/5 of 18.09.2008, and the Regulation on
certification requirements of the auditors of professional participants on the nonbanking financial market, approved by the NCFM Decision no. 36/12 of
23.07.2009. The structure of the certification committees was approved by the
NCFM Decision no.38/14 of 08.08.2013.
42
In 2013, 30 specialists of professional participants on the securities market
and 8 auditors on the securities market have been certified in accordance with the
provisions of aforementioned Regulations.
Information on certification of specialists and auditors of the professional
participants on the non-banking financial market is presented in the Table no. 25.
Table no. 25 Information on certification of professional participants’ specialists on the nonbanking financial market
Indicators
Certified specialists, total:
Including:
Certified specialists on the securities
market
Certified specialists in the field of
savings and credit associations
Certified specialists in the insurance
field (actuary)
Certified specialists in the audit field
of professional participants on the
securities market
Certified specialists in the audit field
of savings and credit associations
Certified specialists in the audit field
of insurance
2.7.
No. of
specialists
who hold
certificate of
qualification
on
31.12.2012
Certificates
issued
during 2013
Certificates
cancelled
during 2013
No. of
specialists
who hold
certificate of
qualification
on
31.12.2013
1694
64
-
402
325
30
-
355
1336
24
5
2
-
2
13
8
-
21
5
-
-
-
10
-
-
-
24
Financial Stability
The NCFM, having as an objective to ensure the stability, the transparency,
the reliability and the efficiency of the non-banking financial sector, to prevent
systemic risks and the manipulations on the non-banking financial market, to
protect the rights of the non-banking financial market’s participants, to carry out
activities in order to better understand the factors that generate systemic risks and
their correlation with the economic cycles.
Thus, the NCFM participated in five meetings of the NCFS. During the
meetings there were discussed topics relating to the stability of the financial system
of the Republic of Moldova and prevention of systemic risks.
During 2013, the cooperation between the NCFM and other authorities
responsible for the authorisation, regulation, supervision and control of the
financial markets system has intensified gradually in order to ensure the
transparency and integrity of the financial system, the compliance with the
applicable legal framework and the expansion of the national framework of
financial stability. As a member of the National Committee for Financial Stability,
43
the NCFM jointly with the National Bank of Moldova, the Ministry of Finance and
the Guarantee Fund of Deposits of the Banking System periodically reviews
financial stability indicators, identifies possible spill over effects, shares
information on the supervision of each component of the financial sector and takes
coordinated action regarding the maintenance of the financial stability.
Based on the recommendations of the IMF, during 2013, the NCFM assured
the generalization and the presentation of the financial soundness indicators, which
are an important tool in the assessment of the financial stability and in the
development of actions to mitigate systemic risks.
2.8.
Internal Institutional Cooperation Activity
During the reporting period, the NCFM carried out coordination and
collaboration activities with other institutions and public authorities of Moldova in
order to fulfil its specific regulation and supervision of non-banking financial
market, as follows:
 NCFM took part in the NCFS activities, created under the Memorandum of
Understanding on financial stability maintenance concluded between
Government of Moldova, NBM, NCFM, Committee on Economy, Budget
and Finance of the Parliament of Moldova and Deposit Guarantee Fund;
 NCFM submitted to NBM information on transactions with banks shares
and other statistical data;
 NCFM participated in the interdepartmental working groups to develop and
promote the draft Law on credit agreements for consumers and the draft Law
on distance marketing of consuming financial services;
 NCFM submitted periodically to the Ministry of Economy reports on
licensing and information on registration of securities issues on the primary
market and transactions with corporate securities;
 NCFM submitted to the Centre for Legal Approximation the information on
legislative commitments for transposition and implementation of EU acquis
assumed towards the European partners;
 NCFM, in collaboration with the central government authorities and other
public authorities, submitted for consultation and notice drafts of legislative
and normative acts and examined a number of draft laws and regulations
received by the NCFM, formulating proposals for amending the promoted
regulatory initiatives (Annex No.8).
Deep and Comprehensive Free Trade Area (DCFTA)
Following the European Commission's recommendations and the Action Plan
for implementation of the European Commission recommendations for
establishment of the Deep and Comprehensive Free Trade Area between Moldova
and the European Union, the NCFM submitted quarterly progress reports on
implementation of the Plan under “Services and Investment” chapter. The
44
progresses made in 2013 are related to the improvement and promotion of the legal
framework to European and international standards and to strengthening its
institutional and operational capacities.
Therewith, during 2013 the NCFM actively participated in meetings of the
RM-EU sub-committees where have been exposed the progresses in reforming
processes of the non-banking financial market sectors according to the institutional
duties.
The Deep and Comprehensive Free Trade Area between Moldova and the
European Union is part of the European Association Agreement. DCFTA will be a
multilateral agreement concluded for an unlimited period, providing export
benefits and long-term predictability for business and investment.
2.9.
International Cooperation Activity
Compliance of the national legislation on the regulation and supervision of
non-banking financial market to the acquis-communautaire and to the latest
international trends was one of the most important goals in the NCFM activity. To
achieve this goal it was necessary for an active involvement and constant
communication with international organizations in the insurance, securities and
microfinance fields, including through conducting study visits to the European
authorities in order to undertake the best practices in the implementation of the
regulatory and supervisory initiatives of the NCFM.
Membership in International Organization
International Association of Insurance Supervisors (IAIS)
NCFM is a member of the International Association of Insurance Supervisors
since 2009 and during 2013 continued to comply the national legislation with the
IAIS Insurance Core Principles.
Therewith, NCFM was an active member in 2013, which participating in selfassessment exercises on legislation compliance to IAIS principles and in
international events organized by IAIS: IAIS Global Seminar and tri-annual
meeting, where have been discussed new trends related to establishing
international standards and macro prudential supervision.
The year 2013 was marked by an IAIS event conducted in Chisinau –
„Regional Seminar for insurance supervisors in Central and Eastern Europe,
Central Asia and Transcaucasia on consumer protection and education”. The
seminar was organized by the Financial Stability Institute, jointly with the
International Association of Insurance Supervisors and NCFM. The seminar
addressed the following topics: business conduct on insurance market and
consumer protection; activity of intermediaries and their supervision; importance
of corporate governance to protect insurance policyholders. The event was
attended by representatives of the supervisory authorities of Slovenia, Macedonia,
Bosnia and Herzegovina, Albania, Romania, Poland and Kazakhstan, being shared
experience of supervisors from Germany, Belgium and Hungary.
45
International Corporate Governance Network (ICGN)
During the reporting year the NCFM benefited from the advantages offered
by the ICGN to its members in corporate governance field. Thus, the NCFM had
the opportunity to be informed about the latest trends arising in corporate
governance field through ICGN publications and webpage and to be guided by the
best practice guidelines on issues of the mentioned field.
ICGN's mission is to improve the standards of corporate governance
worldwide. In this respect, the ICGN encourages cross-border dialogue through
conferences and influences public corporate governance policy through ICGN
committees, developing and promoting standards of corporate governance and
exchange of information, and education in all issues of corporate governance.
Francophone Institute for Financial Regulation (IFREFI)
As a member of IFREFI, the NCFM attended the annual meeting organized
by the Francophone Institute for Financial Regulation, which aimed to address
issues related to the identification and management of regulation and supervision
of the financial market. Also, during the event have been conducted a series of
seminars on various topics in the capital market field, such as investor protection
of dematerialisation and ownership rights in the context of storage by a participant
on the securities market on a centralized manner; compensation of securities and
derivatives, clearing houses regulation; securities depository and regulation of its
activity.
IFREFI is a flexible structure for cooperation and dialogue, which aims at the
exchange of knowledge and experience on the financial market among its
members.
Insurance Supervision Initiative in the Central, Eastern and South-Eastern
Europe countries (CESEE ISI)
This initiative brings together the insurance supervision authorities of Central,
Eastern and South Eastern Europe (CESEE) for the purpose of stronger crossborder cooperation in this region. The founding members of the Initiative are
authorities from Austria, Albania, Estonia, Hungary, Lithuania, Macedonia,
Moldova, Montenegro, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine.
The work of CESEE ISI is to strengthen international cooperation by setting up the
common supervisory architecture and intensification of cross-border cooperation in
the region.
The objectives of the initiative are the following:
- to promote and maintain communication and cooperation between
supervisory authorities from CESEE countries;
- to serve as a forum for discussion that will focus on insurance market issues,
organizing workshops, conferences and other trainings;
- to provide opportunity for exchange of experience in techniques field,
experiences, information and know-how;
46
- to assist in implementing EU directives and regulations into national
legislation of the CESEE countries.
The CESEE ISI members meet in conferences and workshops to discuss
current issues related to insurance supervision. NCFM actively participates in
the Initiatives meetings, held twice a year, thereby benefiting from the latest
trends in the field.
Cooperation with International Financial Organizations
Effective cooperation and relations with international financial organizations
have contributed to the implementation of the Strategy of non-banking financial
market development for the period 2011 - 2014 and to the strengthening of the
NCFM institutional capacities.
World Bank
The World Bank continues to be one of the main development partners of the
NCFM in the field of institutional development and capacity strengthening of the
Moldovan non-banking financial market regulation and supervision.
Thus, the World Bank supported the participation in the new projects
launched by WB Strengthening Auditing and Reporting for the Countries of the
Eastern Partnership and involvement in programs such as: Development of Policy
Operations, Competitiveness Enhancement Project, etc.
Also, during the reporting period have been organized visits of WB experts
teams, during which were discussed issues concerning development and results of
program implementation for private and finance sector development.
International Finance Corporation (IFC)
The International Finance Corporation, which is a member of the World Bank
Group, is an international organization whose mission is to promote sustainable
private sector investment in developing countries, helping to reduce poverty and
improve people's lives.
During 2013 NCFM signed two cooperation agreements with the
International Financial Corporation: in the fields of credit history bureaus and
corporate governance.
Thus, on November 04, 2013 it was signed the Cooperation Agreement on
assistance in strengthening and developing credit information sharing system. The
Act provides implementation of the mentioned project through the following
activities: 1) analysis draft amendments to the Law no. 122-XVI of 29.05.2008
„On credit history bureau” and providing comments on it; and advising to the
NCFM in respect of required legislation amendments; 2) educating the NCFM on
specifics of credit history bureaus supervision; 3) organizing seminars and
roundtables for NCFM representatives and executives of the microfinance
organizations and leasing companies; 4) assisting the NCFM in preparing a
supervisory set of guidelines for on-site and off-site supervision of credit history
bureaus.
47
Also, on October 21, 2013 it was signed the Cooperation Agreement in the
framework of IFC Corporate Governance Program in Europe and Central Asia,
offering consulting services to help at strengthening of private sector development
in Europe and Central Asia. Under the agreement, IFC has committed to advise the
NCFM in drafting the Code of corporate governance for Moldovan companies,
corporate governance scorecard based on the official version of the Code and to
provide technical expertise related to documents developed in the field and training
campaigns.
Therewith, with the IFC assistance, the NCFM representatives have
conducted a study visit in Italy, aiming at familiarizing with credit records of credit
history private bureaus as well as with public register managed by the Central
Bank of Italy. During the visit, participants had the opportunity to study the
operation and best practices on activity of credit history bureau of the Bank of
Italy. Also, the representatives made visits to two international credit bureaus that
operate in Italy.
On June 03, 2013, Chisinau hosted Eurasian Group meeting on Corporate
Governance for capital market development with the theme "Strengthening the
Corporate Governance: Priorities and Achievements" – event organized jointly by
the Organisation for Economic Cooperation and Development (OECD), IFC and
NCFM. The meeting brought together representatives of the OECD, the capital
market regulators, stock exchanges, other specialists in the country and
internationally. The meeting was aimed at ensuring the exchange of experience on
international practices and implement innovations and OECD principles of
corporate governance.
Activity of the Eurasian Group on corporate governance for capital markets
development, established by the OECD, covered, over two years, the setting up
platforms for discussions involving capital market regulators from different
countries to help at the improving corporate governance regulations. From the
composition of the Group includes representatives of capital markets regulators
from Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kirghizstan, Moldova,
Mongolia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan, as well as OECD
regional representatives.
European Commission
In 2013, NCFM received technical assistance through the Technical
Assistance and Information Exchange Instrument (TAIEX) of the European
Commission. TAIEX provides to Moldova public authorities short-term
opportunities in the transposition and implementation of EU legislation and helps
to implement policies in priority sectors of the country through organization of
workshops, expert missions and study visits. Thus, during the reference year it was
organized the following events:
- Study visit to the Polish Financial Supervision Authority, which aimed to
obtain knowledge and experience in the implementation of the Code of Corporate
Governance;
48
- Seminar on Corporate Governance, where it was shared experience of
Bulgaria and Turkey in the field of corporate governance;
- Expert Mission of Romania Financial Supervisory Authority on „Activities
and Functions of the Central Securities Depository”;
- Study visit to the German Financial Supervisory Authority on „Assessment
of the legal and regulatory framework in the insurance sector”;
- Expert Mission of Romania Financial Supervisory Authority in the field of
implementation and administration of private pension system - “Private Pension
System”.
Also, NCFM applied for other TAIEX projects that have been approved by
the European Commission and will be completed during 2014. Areas where
technical assistance was requested are related to capital market, insurance market
and savings and loan associations sector.
The NCFM had a fruitful collaboration with the Delegation of European
Commission in Moldova in order to start technical assistance project TWINNING
on strengthening and development institutional and operational NCFM capacity in
the field of prudential supervision. Thus, in 2013 the NCFM representatives,
jointly with international experts, have developed twinning project fiche.
The main objective of the project is to develop and implement a risk-based
supervision system for non-banking financial market participants, including capital
market, insurance market, pension funds and microfinance sector, based on
forecasting and risk assessment as a result of adverse events and consequences that
can be prevented.
Cooperation with Similar International Supervisors
In 2013 the NCFM representatives attended events and training programs
organized by the financial markets supervisor from Armenia, Germany, Poland,
Slovenia, and USA in order to strengthen the regulatory and supervisory regime by
transposing the best practices implemented at European and international levels,
and studying the experience of international financial markets.
The representatives of the supervisory authorities of Poland and Romania
visited Moldova to participate in events at national and international level held in
Chisinau in order to provide advisory support and share experiences in the field of
regulation and supervision of non-banking financial market,
Polish Financial Supervision Authority
In 2013, in order to develop the Moldovan non-banking financial market, the
Polish Financial Supervision Authority has organized trainings on various topics
on the regulation and supervision of the capital market for the NCFM and
professional participant’s representatives. The training activities have been
conducted by a team of Polish experts and included the following topics:
1. Investment companies - authorization and conditions for investment firms
activity, investor protection;
2. Regulations on standards regarding investment firms services;
49
3. Checking existing internal procedures, the legal bases, human resources and
unresolved issues for introduction of risk based supervision and
management of capital market risk;
4. Checking existing internal procedures, the legal bases, human resources and
unresolved issues for introduction of risk based supervision and
management of banking risk;
5. Recommendations for NCFM for inspection in banking supervision;
6. Assistance in establishing effective internal control and risk management
procedures;
7. Assessment of the legal and institutional framework of capital market
supervision in the Republic of Moldova;
8. Acquaintance of NCFM representatives with EU funding instruments, based
on the Polish experience.
Such assistance is to be granted during 2014, which will include issues related to
the supervision of the insurance market.
Cooperation with Commonwealth of Independent States specialized
organizations (CIS)
The cooperation with the CIS’ organizations in the field of regulation and
supervision of the securities and insurance markets contributes to the coordination
of activities between the CIS member states in the development of the securities
markets and serves as a basis for setting priorities to create an efficient market.
Council of the Heads of Securities Market Regulation Authorities of CIS
member states
The Council of the Heads of Securities Market Regulation Authorities of the
CIS aims to coordinate the activity of regulatory and supervisory institutions of
securities market of the CIS member states.
In accordance with the principle of rotation, in 2013 Moldova took over the
presidency in the Council. Thus, on October 22-23, 2013 in Chisinau took place
the sixteenth and seventeenth meetings of the Council, attended by high level
representatives of similar authorities from Azerbaijan, Armenia, Belarus, Republic
of Kyrgyzstan, Tajikistan and Ukraine. Also, the meeting was attended by the
representatives of the CIS Executive Committee, including the representative of
the Republic of Kazakhstan in the Economic Committee within CIS.
During the meetings were examined current issues in development of
securities markets in the CIS member states, such as: evolution and prospects of
development of securities markets in the member states of the CIS, financial
education, improvement of legislation on accounting and auditing on securities
market, prevention measures of violations in the securities market, placing issuers
securities in other countries. Also, during the meetings the NCFM representatives
provided extensive information on the studies with regard to legislation of the CIS
member-states regulating state securities and their circulations in the secondary
50
market and the legislation of the CIS member-states regulating corporate
governance code and methods of its implementation.
2.10. Preventing and combating the money laundering and terrorism
financing on the non-banking financial market
The actions in the field of preventing and combating ML/TF represent
complex measures, carried out by the NCFM to improve and optimize the activities
at national level.
Following the approval of the Law no.130 of 06.06.2013 „On approval of the
national strategy to prevent and combat money laundering and terrorist financing
for the years 2013-2017 and the Action Plan for implementation of the national
strategy to prevent and combat money laundering and terrorist financing for the
years 2013-2017” and in order to fully implement the mentioned action plan,
during 2013 NCFM has undertaken a number of measures, including the approach
to anti-money laundering within 4 complex controls in insurance field and 14
thematic inspections in the savings and loan associations sector.
During the controls was verified the observance by reporting entities of the
requirements of Law No.190-XVI of 26 July 2007 „On the prevention and
combating money laundering and terrorist financing” on the non-banking financial
market, especially the reporting of transactions under the mentioned Law. At the
18 reporting entities were detected deviations, being prescribed to them
unconditional observance of legislative and normative provisions, and has been
informed the Service for Prevention and Combating Money Laundering within the
National Anticorruption Centre on suspicious transactions identified in the activity
of the verified reporting entities. As a result of the prescription, the reporting
entities have complied with the legislation requirements.
As part of the 41st and 42nd plenary meeting of MONEYVAL Committee,
the NCFM representatives presented the Moldova's progress report with reference
to the sanctions system to prevent and combat money laundering and terrorist
financing in Moldova.
As result of report analysis, the international experts have recommended that
Moldova should make the necessary amendments of the existing regulatory
framework so as to contain a sanction system for non-observance of obligations
provided by Law no. 190-XVI of 26.07.2007 „On prevention and combating
money laundering and terrorist financing”.
In this context, there were developed the draft law amending the offenses and
criminal legislation. Thus, the size of sanctions follows to provide both for legal
and natural persons and for officers, the deterrent and proportionate character to
commit breaches of anti-money laundering and terrorist financing legislation in
accordance with the FATF recommendation 17 of those 40 +9 Recommendations
of the Financial Action Task Force on Money Laundering.
The main objectives related to NCFM capacity building in the field of
preventing and combating money laundering and terrorist financing are mainly:
51
- the analysis of the normative framework in preventing and combating
ML/TF and the identification of opportunities for improving it;
- strengthening the cooperation with the reporting entities by enhancing
training and degree of awareness;
- strengthening supervision and control capacities of the reporting entities;
- raising public awareness and responsibility over risks associated with
ML/TF;
- the implementation of training programs for specialists in the field of
preventing and combating money laundering and terrorist financing;
- the active participation in developing national mechanisms for preventing
and combating ML/TF.
52
Chapter II. ORGANIZATION AND FUNCTIONING OF THE NONBANKING FINANCIAL MARKET
I. Development of Securities Market
1.1. Primary Market of Securities
During 2013, on the primary market of securities was registered a decreasing
trend of both the total number of securities issues, and the volume of shares issues.
According to the SSR data, cumulative for the whole activity period of the
securities market, there were securities issues worth 25,5 billion MDL, of which:
13.0 billion MDL - shares placed at company foundation and 12,5 billion MDL –
shares placed through additional issues of shares and bonds issues.
At the end of 2013 there were registered 2998 companies in the SSR. During
1992-2013, 828 joint stock companies were removed from the SSR as a result of
their liquidation or reorganization.
During 2013, there were registered 69 securities issues amounting to 950,1
billion MDL, of which: 7 issues performed at the establishment of joint stock
companies and 62 additional issues (Diagram No. 6)
Diagrama No.6 Issues of securities
1800
1600
1400
1200
1000
800
600
400
200
0
1646.2
200
180
1389.3
172
160
1274.5
133
156
1106.0
140
137
114
130
950.1 120
857.4
113
814.2
88
104
100
697.6
81
683.7
84
80
644.2
466.4
69 60
87
375.4
324.8
40
20
0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Volume of issuance, mil. lei
Number of issues, units
The volume of issues registered at the foundation of joint stock companies is
estimated at 0,4 million MDL. (Diagram No.7).
53
Diagrama No. 7 Fondation issues
400
70
356.2
350
60
58
300
50
250
200
28
28
150
100
40
209.4
32
167.3
65.4
99.3
50
16
9.8
0
17.8
14
30
19
26 17
18.9 26.2
0.7
5.6 7
17
26.2
20
17
0.4 7
10
0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Volume of issuance, mil. lei
Number of issues, units
The list of joint stock companies that in 2013 registered foundation issues is
presented in Annex No.9.
Additional issues of securities represent efficient tools in the process of
attracting long-term investment in the real sector of the economy, necessary for
joint stock companies to carry out investment programs. During 2013, additional
issues of securities were made by closed issues, preference being granted to issues
of ordinary shares.
The volume of additional issues made by joint stock companies during 2013
amounted to 949,7 million MDL, registering a decrease by 199,9 million MDL as
compared to the previous year (Diagram No.8).
Diagram No.8 Additional issues
1800.0
1600.0
130
1636.5
114
102
1400.0
72
1000.0
65
74
683.0
800.0
400.0
120
1363.1
86
1200.0
600.0
140
120
116
530.3
401.0
96
77
1065.1
100
949.7
68 795.3
851.8
749.8
618.0
80
62 60
40
357.7
225.5
20
200.0
0.0
0
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Volumul emisiunilor, mil. lei
Numărul emisiunilor, unităţi
During 2013, the highest additional issues of shares were registered by: CB
„EXIMBANK-Gruppo Veneto Banca” JSC – 365,0 million MDL, CB
„UNIBANK” JSC – 100,0 million MDL, JSC „BANCA DE ECONOMII” – 80,2
million MDL, JSC “ZORILE” – 60,3 mil. lei, JSC „ELEVATOR KELLEY
54
GRAINS” – 38,0 million MDL, which represent 67,8 percent of the total additional
issues. The list of joint stock companies which registered additional issues in 2013
is presented in Annex No. 10.
During 2013, in the SSR there were registered amendments on the issues of
securities previously placed by 13 joint stock companies as a result of changes in
the statutory capital and / or restructuring of securities issue companies. Also, in
the SSR there were made records on securities radiation issued by 37 companies
(Table No.26).
Table No. 26 Number of records on securities radiation from SSR
Indicators
2007
2008
2009
2010
2011
2012
2013
4
12
20
5
10
2
1
25
32
30
33
26
25
16
0
5
12
2
0
1
20
Number of records on removal from SSR
and securities radiation previously issued
by joint stock companies as a result of
reorganization by conversion to LLC
Number of records on removal from SSR
and securities radiation previously issued
by joint stock companies as a result of
their liquidation
Number of records on removal from SSR
for other reasons
The list of joint stock companies that have registered changes in the SSR is
presented in Annex No. 11.
1.2. Secondary Market of Securities
The main indicator proving the secondary securities market development is
the volume of transactions recorded. During 2013, the secondary market
transactions were conducted in 3744 total volume of 1711.6 million lei, registering
an increase compared to 2012 460.1 million or 36.76%, due to higher volumes so
the stock market transactions as well as the counter (Diagram No. 9).
Diagrama No. 9 Total volume and number of transaction
2193.5
2200.0
300000
2000.0
1940.0
1863.0
232028
1800.0
1711.6
219837
250000
1600.0
168807
1400.0
200000
1251.5
1135.7
1200.0
150000
1000.0
800.0
600.0
400.0
621.9
558.6
31801
100000
559.1
50000
24287
5683
200.0
5313
4398
3744
0.0
0
2005
2006
2007
2008
2009
Volumu of transaction (mil.lei)
2010
2011
2012
2013
"Number of transaction(units)
55
According to structure of transactions in the secondary market during the
period 2009 - 2011 there was a prevalence of OTS segment compared to the stock
market transactions by volume, and in 2012 – 2013, there were approximately equal
volumes of transactions in both segments.
Stock Market
As of 31.12.2013, on MSE, there were registered securities of 980 joint
stock companies, of which 9 were included in the listing (stock exchange rate) and
971 in the non-listing.
According to stock market indicators for the last 3 years there has been a
significant increase of the volume of transactions regardless of the decrease of the
number of transactions.
Diagram No.10 The evolution of the stock market, 2011-2013
2500
2046
1877
2000
1500
1258
822.0
1000
623.3
500
0
Number of transaction, units
Volume of transactions, million
MDL
241.9
2011
2046
2012
1877
2013
1258
241.9
623.3
822.0
Thus, the stock market in 2013 there were performed 1258 transactions total
volume of 822 million MDL which is less than the 619 transactions in 2012, but
with 198.70 million MDL more than the volume of transactions in year 2012.
Compared to 2011 the number of transactions registered a reduction of 788
transactions, and an increase in volume with 580.11 million MDL (Diagram no.
10). Total number of securities traded by on MSE in 2013 was 26.36 million units,
registering an increase of 6.14 million units compared to 2012 and up to 0.03
million units compared to 2011. Dynamics of stock market for the period 20112013 are presented in Table no. 27.
Table No.27 Dynamics of stock market indicators
Indicators
2011
2012
2013
Volume of transactions, million MDL
241,9
623,3
822,0
Number of transactions, units
2046
1877
1258
56
Number of issuers whose securities were traded, units
Number of securities traded, million units
245
206
158
26,33
20,22
26,36
In the structure of exchange transactions for 2013 are included transactions
made in the direct transactions area with a share of 13.64 percent and transactions
made in the main area with a share of
86.36 percent (Diagram no.11).
Diagram No. 11 Share of stock
exchange transactions by areas, %
Unlike the results registered in the last
13,64%
years, the volume registered in the
main transactions area (709.88 million
MDL) in 2013 significantly exceeds
86,36%
the volume of transactions made in the
direct transactions area (112.13
million MDL) by 6.3 times.
transactions in the main area (709,88 million MDL)
transactions in the direct transactions area (112,13…
The volume of sale-purchase
transactions conducted in the main
area of the MSE in 2013 constituted 86.36 percent of the total stock transactions,
registering a significant increase by about 400 million MDL compared to the
previous year. It is worth mentioning that the largest share of the volume recorded
in the main area returns to shares issued by commercial banks, namely, ,,Moldova Agroindbank" joint stock company with 51.17 percent or 363.23 million MDL,
followed by ,,Victoriabank" joint stock company with 19.09 percent or 135.58
million MDL and not least of ,,Banca Socială" joint stock company with the rate of
14.09 percent or 100.09 million MDL.
Diagram No.12 Share of stock exchange
Dominant position in the
transactions by tipe, 2013
Outcry
structure of direct transactions is
auctions
with
occupied by transactions made as a
single –
result of auctions organized by Public
batches,
Property Agency and territorial
4,49%
administrative units. Thus, in 2013
Transacti
Transacti
there
were
eight
transactions
Auctions
ons
ons under
organized
amounted 56.26 million MDL or
conducted
the
by public
in the
conditions
50.17 percent of the total direct
authoritie
main area
of public
transactions and 6.84 percent of the
s, 6,85%
of the
offers on
total stock volume (Diagram no. 12).
MSE,
the
86,36%
secondary
A second position by volume
market,…
goes to the transactions performed
within outcry auctions with singlebatches, being recorded 214 transactions with securities issued by 65 issuers in the
amount of 36.88 million MDL or 32.89 percent of the total direct transactions
volume and 4.49 percent of total stock transactions.
57
The third place is recorded by transactions under the terms of the public
offerings on the secondary market; there were negotiated securities of 16 issuers in
the volume of 18.98 million MDL or 16.93 percent of the total direct transactions
and 2.31 percent the total volume of stock transactions.
Details of the structure of stock exchange transactions are shown in Table
no. 28.
Table No. 28 Structure exchange transactions
Type of transactions
Transactions conducted in the main area of the MSE
Auctions organized by public authorities
Outcry auctions with single – batches
Transactions under the conditions of public offers on the secondary
market
Sale - purchase (direct negotiations)
TOTAL
Total volume of
transactions,
million MDL
2012
2013
309,30
709,88
61,33
56,26
50,15
36,88
7,62
194,90
623,30
18,98
0,00
822,00
2013 to
2012,
million
MDL
400,58
-5,07
-13,27
11,36
-194,90
Share in the
total volume of
transactions, %
2012
2013
49,62
86,36
9,84
6,84
8,05
4,49
1,22
31,27
100,00
2,31
0,00
100,00
Diagram No.13 Evolution of stock price index of NCFM in 2013
434.18
434.18
434.18
434.18
434.18
434.18
434.18
440
430
420
410
400
390
380
370
360
388.58
388.58
388.58
388.58
388.58
388.58
388.58
388.58
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.43
389.43
389.43
389.43
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
389.31
Index value, points
Compared with 2012, there have been reductions of 5.07 million MDL and
13.27 million MDL of the volume of transactions as a result of the auctions
organized by the Public Property Agency and territorial administrative units,
respectively, due to the transactions registered as a result of outcry auctions with
single – batches. However, a significant reduction in volume compared to the
previous year registered sale – purchase (direct negotiations) transactions.
Transactions in terms of the public offering on the secondary market in 2013
have registered an increase of the volume with 11.36 million MDL against 2012.
Period
The stock price index of NCFM at the beginning of 2013 amounted 388.58
points and 434.18 points to end. During 2013, the stock price index recorded four
changes in its value, including 3 positive change and one negative change
(Diagram no.13).
The first three changes to the index occurred after the period 25.02.2013 01.03.2013, 14.05.2013 - 18.05.2013, respectively, at the end 10.06.2013 –
14.06.2013 (Diagram no. 14), due to changing average trading price of securities
issued by ,,Banca de Economii" joint stock company. Thus, at the end of
25.02.2013 - 01.03.2013, the index reached 389.31 points.
58
Diagram No.14 Evolution of the stock
price index in 2013
389.31
389.31
389.31
434.18
389.43
389.31
388.58
388.58
At the end of the period
14.05.2013 - 18.05.2013, the stock 389.4
389.2
price index of NCFM witnessed an
389
388.8
increase of the value up to 0.12 388.6
points or 0.03 percent reaching the 388.4
388.2
388
level of 389.43 points. The trading
15/02/13
22/02/13
price of the securities issued by the
08/05/13
07/06/13
14/06/13
"Banca de Economii" joint stock
company recorded at the end of the
period 10.06.2013 - 14.06.2013,
influenced the decrease of the stock
price index by 0.12 points or 0.03 percent to 389.31 points reaches.
Last update in 2013 was positive, the stock price index of NCFM recorded at
the end of the period 11.11.2013 - 15.11.2013 significant growth with 44.87 points
or 11.53 percent, reaching 434.18
Diagram No.15 Evolution of stock price index
points value (Diagram no.15).
of NCFM in the period 01.11.2013 Increasing the price index was
15.11.2013
440
influenced by the trading price of
420
securities issued by "Aschim" joint
400
stock Company worth 29.55 MDL
380
per share in the negotiation of 0.78
360
percent of the total number of
01/11/13
ordinary shares issued.
08/11/13
15/11/13
The "free float" coefficient
calculated for the issuers included
in the listing of the MSE indicates
the percentage share of free circulation securities, which can be traded, depending
on their supply and demand (Annex No.1). This coefficient, at the end of 2013
varied between 3.17 and 100 percent.
Due to changes made during 2013, the composition of the issuers included in
the MSE listing was excluded two issuers: ,,Floarea Soarelui” joint stock Company
and ,,Supraten” joint stock Company.
At the end of 2013, chapter leadership largest coefficient ,,free float" returns
shares issued by two commercial banks, namely ,,Unibank” joint stock Company,
respectively, ,,Banca Socială” joint stock Company, which is 100% of each.
Follow shares issued by "Moldindconbank” (99.53%), shares issued by ,,Moldova
– Agroindbank” (93.81%), then the preference shares issued by "Banca de
Economii" (87.61%) and shares issued by ,,Victoriabank” (61.99%), details in
Diagram no. 7. The ,,free float” coefficient level for the rest issuers belonging
MSE listing were below the 33 percent of the total number of issued shares.
Similar to last year, the lowest coefficient returns to the shares issued by ,,Efes
Vitanta Moldova Brewery” (3.17%).
According to data contained in Diagram no. 7, the end of 2013 none of the
nine issuers included in the MSE listing have been negative variation of the ,,free
float” coefficient level. The most significant increase about the level of the ,,free
59
float” coefficient previous year registered shares of ,,Victoriabank” from 35.24
percent to 61.99 percent up. For the first time in the last five years, the coefficient
shares issued by ,,Victoriabank” reached about 62 percent.
The precentage
Diagram No. 16 Dynamics of the ,,free float” coefficient
100.00
80.00
60.00
40.00
20.00
0.00
MD14 MD24
AGIB
AGIB
BECM
BSOC MBIS
MICB VEST
MD14 MD24
RATE BARS
DACH FLAU
IPTE VCTB
UNIB
BECM
BSOC MBIS MICB VEST RATE BARS DACH
FLAU
IPTE
MD14 MD24
MD14 MD24
18.77 87.61 82.16 3.25 96.47 3.77
5.40 14.92 2.83 24.71 100.00 20.00
VCTB UNIB
11.66
87.61
78.29
3.25
97.91
3.50
5.12
14.92
1.62
23.34
92.07
3.35
35.24
CFF 2011 83.81
CFF 2012 83.81
11.66
87.61
75.57
3.25
93.19
3.17
5.12
14.92
1.62
15.78
92.07
3.35
7.24
22.13
87.61
75.54
3.25
93.19
3.17
5.12
13.00
73.85
3.35
35.24 100.00
CFF 2013 93.81
32.83
87.61 100.00
3.25
99.53
3.17
3.35
61.99 100.00
CFF 2009 88.97
CFF 2010 77.61
Where:
35.99
CFF – FREE FLOAT COEFFICIENT;
AGIB - "MOLDOVA-AGROINDBANK" JSC;
BECM - "BANCA DE ECONOMII"JSC;
MD14 – ordinary shares;
MD24 – preference share;
BSOC - "BANCA SOCIALĂ" JSC;
MBIS - "MOBIASBANCA - Groupe Societe Generale" JSC;
MICB - "MOLDINDCONBANK" JSC;
VEST - "EFES VITANTA MOLDOVA BREWERY" JSC;
UNIB - "UNIBANK" JSC;
IPTE - "IPTEH" JSC;
VCTB - "VICTORIABANK" JSC
Second place of the largest increase in the level ,,free float” coefficient
registered shares of ,,Banca Socială” joint stock Company from 75.54 percent at
the end of 2012 to 100% at the end of the year. Similar to shares issued by
,,Victoriabank” for the first time in five years shares of ,,Banca Socială” joint stock
Company amounted to 100%.
The third place goes to ordinary shares issued by ,,Banca de Economii” joint
stock Company with an increase from 22.13 percent at the end of 2012 up to 32.83
percent, followed by shares of ,,Moldova – Agroindbank” joint stock Company
with an increase from 83.81 percent to 93.81 percent at the end of 2013. Shares
issued by ,,Moldindconbank” joint stock Company also at the end of the previous
year rose from 93.19 percent up to 99.53 percent. Although increasing the ,,free
float” coefficient value for shares of ,,Moldindconbank” was a minor at the end of
2013, those shares were ranked no. 3 after the highest ,,free float” coefficient level,
yielding positions only issuers whose coefficient level is 100%.
However, four issuers included in the MSE listing the ,,free float” coefficient
level remained unchanged compared with the results achieved at the end of 2012.
60
Growth ,,free float” coefficient level during 2013 for most issuers included
in the MSE listing was due trading securities issued by them stakes scattered.
The OTC market
Diagram No. 17 Evolution of OTC transactions
In 2013 on the OTC market were
traded 38,8 million shares in the amount
of 889,6 million MDL through 2 846
transactions.
The volume of OTC transactions
in 2013 increased by 261,4 million
MDL compared with 2012 and have
decreased by 808,4 million MDL
compared with 2011 (Diagram No. 17).
Increase of the volume of OTC
transactions in 2013 compared with
2012 it is about 1,4 times, and it is
reduced compared with 2011 is about 1,9 times (Table No.29)
Table No. 29. Type of OTC transactions
Type of transactions
Sale-purchase
Transactions carried out based on
court decision
Sale-purchase transactions with
the participation of the Agency of
Public Property
Deposition of securities as
contribution to the share capital
Inheritance
Donations
The succession of the securities in
the dissolution or reorganization
the shareholder legal entity
Other transactions
TOTAL
Share in the total
volume of
transactions, percent
2010
2011 2012
8,0
5,3
5,7
2011
136,3
2012
33,6
2013
50,9
2013
compared
to 2012,
mil. MDL
17,3
555,1
83,4
18,3
- 65,1
32,7
13,3
2,1
0,2
32,4
2,7
- 29,7
0,0
5,2
0,3
634,1
221,6
598,8
377,2
37,3
35,3
67,3
7,6
21,8
6,1
38,0
9,3
68,9
3,2
30,9
0,5
1,3
1,0
6,0
1,0
7,8
296,9
119,3
55,3
- 64,0
17,5
19,0
6,2
46,0
1 698,0
93,8
628,2
85,4
889,6
- 8,4
261,4
2,7
100
14,9
100
9,6
100
Total volume of
transactions, mil. MDL
Similar to previous years, the largest share is 67,3 percent of the OTC
transactions recorded in 2013 returns in form of share capital of the contribution to
the share capital to 598,8 million (including about 562 million securities issued by
commercial banks in Moldova), which compared with 2011 decreased by 35,3
million, and compared to 2012 increased by 377,2 million lei (Diagram No. 18).
61
Diagrama No.18 Structure of OTC transaction, 2013
6.2%
0.3%
9.6%
5.7%
67.3%
2.1%
1.0%
7.8%
Sale-purchase (50,9 mil. lei)
Legacy (9,3 mil. lei)
Donations(68,9 mil. lei)
Transaction carried out based on court decisions (18,3 mil. lei)
Depositions of securities as contributions to share capital (598,8 mil. lei)
Sale- purchase transactions with the partisipations of the APP (2,7 mil. lei)
The successions of the security (55,3 mil. lei)
Other (85,4 mil. lei)
OTC volume increase recorded in 2013 contributed with donation
transactions worth 68,9 million or 7,8 percent, which increased to 47,1 million in
2011 and 30,9 million compared to 2012.
According to the table nr. 29, the volume of sale transactions in 2013
compared with 2011 is in decline, and compared with 2012 is a slight rise (2013 5,7 percent or 50,9 million, 2012 - 5,3 percent, or 33,6 million, 2011 - 8,0 percent
or 136,3 million). Reduce transaction of sale is due mostly to reorient security
holders selling shares on the Stock Exchange of Moldova, the value of which in
2013 doubled compared to 2012.
Based on the results obtained in 2013, the volume of transactions under court
decided previous years is decreasing as the reason of being executed amendments
to the Civil Code of the Republic of Moldova (effective from 05.04.2013) to
discourage non-transparent transactions.
1.3. Participation of Foreign Investors in Transactions on Securities Market
Foreign investments on the primary securities market
The total volume of foreign investments attracted through primary securities
market during 2013 was 489,6 million MDL, registering an increase of 61,4
million MDL or by 14,3 percent from the previous year indicator. The majority of
the foreign investments (99,9 percent) were attracted through additional issues.
The list of joint stock companies which have registered securities issues with the
attraction of foreign investments is presented in Annex No. 14.
Compared to 2012, when a special interest for investing in securities on the
primary market expressed investors from the USA, Russian Federation, Austria,
Germany, in 2013 the most significant participation of foreign investors through the
issuance of securities are investors from the Italy, Cyprus, Great Britain and
Germany (Diagram No. 19 and Diagram No. 20).
62
Diagrama No. 19 Structure of investment
attracted by origion of foreign investors ,
2013
Diagrama No. 20 Structure of investment
attracted by origion of foreign investors ,
2012
0.9%
1.0%
0.1%
5.1%
8.1%
5,9%
5.9%
10.2%
74.6%
8,4%
34,8%
10,1%
14,0%
20,9%
S.U.A. (149,3 mil. lei)
Russian Federation (89,4 mil. lei)
Austria (60,1 mil. lei)
Germany (43,1 mil. lei)
Virgin Islands (25,2 mil. lei)
Great Britain ( 25,1mil. Lei)
Other (36,1 mil. lei)
Italy (365,0 mil. lei)
Cyprus (49,9 mil. lei)
Great Britan (39,5 mil. lei)
Germany (25,1 mil. lei)
Russian Federation (4,7 mil. lei)
Romania (4,6 mil. Lei)
Other (0,8 mil. lei)
Foreign Investment on the Secondary Market of Securities
In 2013 the volume of transactions registered on the secondary securities
market involving non-resident individuals and legal entities was 1 941.2 million
MDL, 371 transactions were recorded in total. (Table no. 30).
Table No. 30 Structure of securities transactions carried out by foreign investors
on the securities secondary market
No. Transactions,
units
Amount of
transactions,
million MDL
Share (based on
amount), per cent
No. Transactions,
units
Amount of
transactions,
million MDL
Share (based on
amount), per cent
TOTAL
Share (based on
amount), per cent
Purchase
Sale
Inheritance and donations
Company capital
Execution of court
decisions
Other
2013
Amount of
transactions,
million MDL
Transaction type
2012
No. transactions,
units
2011
83
80
28
35
108.7
133.8
582.4
1180.4
3.51
4.31
18.78
38.05
84
73
28
12
202.6
513.5
92.8
204.1
19.1
48.3
8.7
19.2
159
82
28
102
481.5
514.2
111.5
834.0
24.8
26.5
5.7
43.0
42
6
274
1087.9
8.7
3101.9
35.07
0.28
100
10
0
207
49.1
0
1062.1
4.6
0.0
100
0
0
371
0
0
1941.2
0
0
100
According to the table, the dominant position in the structure of transactions
involving non-residents is the company capital amounted to 834.0 million MDL,
which represents 43.0 percent of the total volume of transactions involving nonresidents, followed by sale transactions amounted to 514.2 million MDL or 26.5
percent, purchase transactions amounted of 481.5 million MDL or 24.8 percent and
transactions of donations and inheritance amounted of 111.5 million MDL or 5.7
percent.
63
Evolution of sale and purchase transactions by non-residents in 2013 as in
2012 and 2011 attests the fact that most are sale transactions.
Thus, both the volume of purchase
Diagram No. 21 Evolution of
transactions as well as transactions of sale,
sale and purchase transactions
has increased by 278.9 million MDL and
by non-residents
respectively by 0.7 million MDL towards 600
513.5 481.5 514.2
2012, and
372.8 million MDL and
respectively 380.4 million MDL towards 400
202.6
2011(Diagram no. 21 ).
200 108.7 133.8
Highest share of transactions of the
0
company capital by their volume got a crack
2011
2012
2013
to investors from UK, Cyprus, Netherlands,
Purchase transactions, million MDL
Russian Federation and Latvia, and the
Sale transactions, million MDL
transaction of sale got a crack to investors
from UK, Netherlands, Russian Federation, Cyprus, Latvia and Ukraine. (Annex
no. 15).
In 2013, as in 2012 the most attractive sector for foreign investors was the
banking and insurance sector where were registered 104 transactions in a volume
of 1841.45 million MDL or 95.06 percent of the total volume of transactions
involving foreign investors, including the securities of commercial banks were
made 85 transactions in the amount of 1818.56 million MDL, and those issued by
insurance companies were made 19 transactions in the amount of 22.9 million
MDL.
1.4. Financial Results of Joint Stock Companies Activity
Following the monitoring of information disclosure by joint stock companies
(issuers) corresponding to one of the criteria of art.2 para.2 of the Law no.1134XIII from 02.04.1997 “On joint stock companies” and according to the provisions
of art.54 para.1 of the Law no.199-XIV from 18.11.1998 “On securities market”,
601 joint stock companies have been required to disclose information about their
securities and about their economic and financial activity for 2012, 528 joint stock
companies submitted their annual report for 2012 to NCFM, which constitutes
87,85 percent of the total number of issuers that, had to submit their annual
financial report (Annex No.16).
Diagram No. 22 Dynamic presentation of annual report of joimt stock
companies on securities submission
900
681
600
593
650
560
601
528
Joint stock companies required
to submit annual reports, mil. lei
Joint stoc copmanies which
submitted annual reports, mil. lei
300
0
2010
2011
2012
64
Within the annual report was met by 476 joint stock companies or 90,15
percent of the total number of companies which reported to the NCFM. The
dynamics of the number of companies that submitted annual financial reports to
the NCFM is presented in Diagram No. 22
Diagram No.23 Dynamic of the number of joint stock companies with
net assets unforable
Number of joint stock
companies
6
9
8
A.N. Negative
A.N.<CS
130
111
97
2010
2011
2012
According to annual reports for 2012, 97 joint stock companies or 18,37
percent registered the amount of equity capital lower than the amount of statutory
capital and 8 joint stock companies or 1,52 percent ended the reporting year with a
negative amount of equity (Diagram No.23).
In 2012, 268 joint stock companies or 50,76 percent of the total number of
companies which submitted annual reports to the NCFM registered net profit worth
1,86 billion MDL (Diagram No.24).
Diagram No.24 Joint stock
companies following the financial
results accieved in 2012
Diagram No.25 Joint stock
companies according divident
announced in 2012
50,76%
14,02%
49,24%
Joint stock companies which announced dividents
(74)
Joint stock companies which not announced
dividents (454)
85,9%
Joint stock companies which announced
dividents (74)
Joint stock companies which not announced
dividents (454)
The dividend policy promoted by the issuer becomes one of the decisive
factors which, directly, influences the market course of its shares. In 2012, 74
issuers or 14,02 percent of the total number of issuers that reported to the NCFM
announced dividends in total amount of 566,36 million MDL. (Diagram No. 25).
65
1.5. The activity of professional participants on the securities market
Moldova Stock Exchange
Moldova Stock Exchange (MSE) has been operating in accordance with the
license held and MSE Rules, approved by the National Commission of Financial
Market Decision no. 62/14 of 26.12.2008.
During 2013, in accordance with its license, MSE was entitled to conduct
stock exchange activity as its main activity on the securities market, with related
activities of clearing, settlement and consulting.
Accredited Membership in MSE was 22 members. Compared with 2012 the
number increased by 1 member.
The size of the MSE equity at the end of 2013 was 4.9 million MDL to 1,0
million MDL norm. Compared to the year 2012 the value of the equity increased
by 1.2 million MDL or 32.6 percent.
Diagram No.26 Evolution of MSE income and expences (2009-2013)
3500.0
3000.0
2500.0
2000.0
1500.0
1000.0
500.0
0.0
Income, thousands MDL
Expences, thousands MDL
2009
1245.7
2532.2
2010
1518.7
2638.9
2011
1200.1
1715.9
2012
2519.2
1841.1
2013
3320.5
2256.8
The mandatory requirement of the guarantee fund of 30 percent of a minimum
equity was complied with and amounted to 300 thousand MDL, placed in banking
deposits.
The results of the economical and financial activity of MSE for 2013 are
presented in the Annex no.17.
MSE revenues from services provided in 2013 amounted 3.3 million MDL,
compared to the year 2012 which recorded an increase of 0.8 million MDL. At the
same time, total expenditure amounted 2.3 million MDL, increasing as compared
with the year 2012 to 0.4 million MDL. Though the size of the cost of sales and
66
general and administrative expenses in 2013 increased compared to 2012, total
revenues exceeded total expenditures, which led to record profits in the amount of 1.1
million MDL. Compared with the previous year the size of the profit increased to 432
thousand MDL or 68.4 percent.
Chisinau Stock Exchange
During 2013, in accordance with the license held, Chisinau Stock Exchange
(CSE) was entitled to conduct stock exchange activity as its main activity on the
securities market, with related activities on clearing and settlement, and consulting.
Analysis of the data contained in the financial report certifies that on 31.12.2013
the statutory capital of the CSE was 2.3 million MDL.
The CSE equity size at the end of 2013 amounted 1.5 million MDL to 1,0
million MDL norm. Compared to the year 2012 the value of the equity decreased by
255.4 thousand MDL or 14.6 percent.
The mandatory requirement of the guarantee fund of 30 percent of a minimum
equity was complied with and amounted 300 thousand MDL, placed in state
securities.
Given the fact that so far CSE has not started the stock exchange activity, income
from main activities were not recorded.
Total expenses recorded at the end of the year 2013 were 0.3 million MDL,
constituted mostly by the general and administrative expenses in the amount of 0.2
million MDL. Given that no revenues were obtained from the main activities during
the reporting period, CSE recorded losses amounting to 0.3 million MDL.
National Securities Depository of Moldova
The National Securities Depository of Moldova (NSD) has been operating under
the license and the Rules of NSD, approved by the National Commission of Financial
Market Decision nr.11/10 19.03.2010.
According to the license held for central securities depository, NSD has the right
to provide depository activities, clearing and settlement, registry keeping and
consulting activities. It is worth mentioning that registry maintenance services by
NSD were not provided in 2013.
The NSD equity size at the end of 2013 amounted to 0.9 million MDL, to its
capital adequacy norm of 0.7 million MDL, registering an increase compared to 2012
by 72.4 thousand MDL or 8.4 percent.
According to the results of the economic - financial year 2013 compared with the
year 2012, revenues recorded a decrease by 13.2 thousand MDL and amounted at the
end of the reporting period about 0.9 million MDL. Their decrease was due to the
decrease of 0.2 million MDL revenue from the operating activities. The size of the
total expenses during the year 2013 increased compared to 2012, representing at the
67
end of the reporting period 0.8 million MDL, that is 22.6 thousand over the previous
year.
According to the financial report, in 2013 NSD registered a profit in the amount
of 72.4 thousands MDL, which compared with the year 2012 decreased by 35.8
thousand MDL.
The results of the economic and financial activity of NSD for the year 2013 are
presented in Annex no.18.
Diagram No.27 Evolution of NSD income and expences (2009 -2013)
1000
900
800
700
600
500
400
300
200
100
0
Income, thousands MDL
Expences, thousands MDL
903.2
876.2
767.9
725.9
862.9
790.6
633.9
591.2
449.9
330.4
2009
330.4
903.2
2010
449.9
725.9
2011
633.9
591.2
2012
876.2
767.9
2013
862.9
790.6
Broker and Dealer Companies
The attraction of investments in the national economy through the securities
market depends much on the development of the market infrastructure, where the
main role is granted to the brokerage/dealer companies. These companies make
connections between investors and provide information about the financial
instruments.
During the year 2013 as in 2012, on the securities markets had the right to
conduct professional activity under held licenses, 22 brokerage/dealer companies
(including 11 commercial banks), 5 of them having brokerage as the main activity,
and 17 companies performing dealer activity as their main activity.
The total value of corporate equity of non-banking brokerage/dealer companies
was 36.4 million MDL, registering an increase of 0.3 million MDL, as compared to
2012, being observed the requirement on minimum equity capital set by the law in
force.
Thus, the structure of the equity includes the share capital – 5.7 million MDL,
retained earnings – 22.1 million MDL, secondary capital – 2.4 million MDL, reserves
– 5.7 million MDL and additional capital amounting 0.5 million MDL (Diagram no.
28).
68
The total amount of the guarantee fund is 2.3 million MDL. Therewith, by the all
non-banking
brokerage/dealer
Diagram No. 28 Structure of equity
companies respected the requirements
capital of non-banking
brokerage/dealer
companies at the end
of the guarantee fund amount
of 2013
established by the law, this was formed
to 9 companies of funds placed in bank
6.5%
60.7%
deposits and at 2 companies of State
securities.
The total income from the
15.7%
1.4%
operational activity constitutes 4.8
15.7%
million MDL, including income from
share capital
retained earnings
secondary capital
reserves
services – 4.5 million MDL or 93.9
aditional capital
percent and other operational incomes
– 0.3 million MDL or 6.1percent. Compared with the results obtained in 2012, the
total income increased by 0.06 million MDL or 1.35 percent.
The total expenses from the operational activity represents 5.2 million MDL,
including general and administrative expenses 3.6 million MDL. As compared to
2012 the total spending incurred by non-bank broker/dealer companies increased by
0.8 million MDL or 18.1 percent.
Thus, the fact that in 2013 the growth rate of expenditures far exceeded income
growth, as a result of operational activity deployment by the non-bank broker/dealer
companies were registered losses amounting to 0.4 million MDL.
The situation on the outcome of economic and financial activity was corrected
due to obtaining significant income
Diagram No. 29 Structure of transactions
from investment activities amounted
performed by non-banking brokers/dealers
3.34 million MDL, which generated a
79.8%
profit in the amount of 3.29 million
MDL, representing an increase of about
3.7%
67.1 percent compared to 2012.
Net income obtained by the
4.1%
12.4%
0,002%
brokerage/dealer
companies
after
sale-purchase transactions
income tax deduction represents 3.1
single-package transactions
million MDL, representing an increase
transactions carried out within public offers of securities on the
of about 78.6 percent compared to the
secondary market
results recorded at the end of the year
transactions with public property securities
2012.
The economic and financial activity results of non-banking brokerage/dealer
companies for 2013 are presented in the Annex no. 19.
In 2013, 20366 transactions were made through non-banking brokerage/dealer
companies, that is 1 176 transactions less than in 2012.
6
The number and volume of transactions include separately buyer and seller transactions
69
The total value of the transactions conducted through them in 2013 is 910.7
million MDL (Annex no. 20), increasing by 492.4 million MDL compared to 2012. A
company has not carried out any transactions.
The share of the transactions carried out by the non-banking brokerage/dealer
companies are 55.39 percent compared to 33.55 percent in 2012 of the value of securities,
traded on the stock market.
The transaction structure includes: 1293 sale-purchase transactions carried out on the
Interactive market of the MSE, worth 726.6 million MDL, 412 single-package transactions,
worth 33.8 million MDL, 314 transactions carried out within public offers of securities on
the secondary market, worth 37.7 million MDL, 15 transactions with public property
securities, worth 112.5 million MDL and 2 sale-purchase transactions direct negotiation in
amount of 0.02 million MDL (Diagram no.29).
In 2013 through commercial banks
Diagram No. 30 Structure of transactions
as professional participants on the
performed by banking brokers/dealers
securities market there were carried out
(2013)
480 transactions with 62 transactions less
94.5%
than previous year.
The total volume of transactions
made by the commercial banks in 2013
constitute 733.3 million MDL, registering
a decrease by 95 million MDL compared
to previous year (Annex no. 21). The
5.4%
0,03%
volume of dealer transactions carried out
0,003%
sale-purchase transactions
by commercial banks constitutes 102.3
single-package transactions
million MDL, the rest of the broker
transactions carried out within the public offers on secondary securities
transactions worth 631 million MDL.
market,
transaction with public property securities
The structure of transactions
includes: 413 sale-purchase transactions,
worth 693.1 million MDL, 16 single-package transactions, worth 39.9 million MDL, 50
transactions carried out within the public offers on secondary securities market, worth 0.3
million MDL and one transaction with public property securities, worth 0.02 million MDL
(Diagram no.30).
Independent registrars
At the end of 2013, under licenses granted by NCFM for the right to conduct
professional activity on the securities market, 11* independent registrars provided
services of keeping the registry of securities holders and 2 issuers which ensured
keeping the registry of securities holders independently.
During the mentioned period, independent registrars provided services of
keeping registers for 2092 joint stock companies (Annex No. 22).
Independent registrar’s equity capital, consisted 10,9 mil. MDL at the end of
2013, decreasing by 0,2 mil. MDL compared to 2012. All registrars recorded net
assets exceeding the amount of share capital.
70
At the end of the reporting period, the total volume of the registrars guarantee
fund consisted 3,4 mil. MDL. All registrars have complied with the requirements
related to the size and form of the guarantee fund (210,000 MDL) established under
the provisions of article 53 of Law No. 199-XIV of 18.11.1998 “On securities
market”.
During 2013 independent registrars have received a total net profit worth
1,2 mil. MDL, or by 50 percent more than in the previous year. (Table No. 31).
Results of the financial-economic activity of the independent registrars at the end of
2013 are presented in Annex No.23
Table No. 31 Evolution of main indicators of independent registrars’ activity
Indicators
2008
2009
2010
2011
2012
2013
Share capital, mil. MDL
Equity, mil. MDL
Guarantee fund, mil. MDL
Total operational incomes, mil. MDL
Total operational expenditures, mil. MDL
Net profit, mil. MDL
Number of independent registrars acting
on securities’ market, units
6,2
11,3
2,7
6,0
5,3
1,2
5,5
9,9
2,5
5,4
4,9
1,1
5,5
10,1
2,2
5,1
4,6
0,8
6,2
11,5
2,7
6,1
5,1
1,32
6,2
11,1
3,3
5,8
5,3
0,8
6,2
10,9
3,4
8,1
7,1
1,2
13
10
10
11
11
11*
* An independent registrar has conducted business according to the Decision NCFM redraw until the transmission of
registers of securities holders to license independent registrars holding force for keeping the register.
Investment Funds
During the reference period, the liquidation procedure continued for 9 investment
funds subjected to forced liquidation according to the NCFM decisions and for the
other 8 investment funds with a liquidation procedure started on their own initiative in
compliance with the decisions of the General Assembly of Shareholders. Moreover,
the liquidation procedure of the Investment Fund UNIF “Viitorul Tau” continued
because of the two Court’s decision.
 Investment funds subjected to forced liquidation
During 2013, the investment funds “MCI-Fond” JSC, “Zodiac-Invest” JSC,
“Papirus-Invest” JSC and “BSV-Invest” JSC continued the distribution of financial
means to the shareholders through the branches and representative offices of the CB
“Energbank” JSC.
By the end of 2013, these 9 funds subjected to forced liquidation, accumulated
23.37 million MDL financial funds, of which 22.35 million MDL were previously
placed as deposit accounts at the CB “Investprivatbank” JSC. According to the
71
financial and specialized statements, the equity value of these funds as of the end of
2013 was 21.97 million MDL.
The economic and financial situation of the investment funds subjected to forced
liquidation is presented in Annex No.24.
 Investment funds in process of liquidation out of own initiative
As of the end of 2013, the investment funds in process of liquidation out of own
initiative accumulated bank account funds worth 199.38 million MDL, of which
162.82 million MDL were previously placed as deposit accounts at the CB
“Investprivatbank” JSC.
According to the financial and specialized statements, the equity value as of the
end of 2013 was 196.61 million MDL, increasing by 2.18 million MDL as compared
to the end of 2012.
At the end of 2013, out of 8 investment funds, only 1 fund registered profit
worth 2.45 million MDL.
In the reporting period, through the branches and representative offices of the CB
“Moldindconbank” JSC, continued the distribution of financial funds, as well as the
additional financial funds to the shareholders of the UNIF “Viitorul Tau” JSC.
The economic and financial situation of the investment funds in process of
liquidation out of own initiative is represented in Annex No.25.
 Trust companies
As of 31.12.2013, 7 trust companies were registered in the Register of the
professional participants of the non-banking financial market, of which:
- 2 trust companies: “Mobiastrast” JSC and “Compania Fiduciară a
Feroviarilor” JSC, continue the liquidation procedure of the professional activity;
- 1 trust company: “Colaborare” JSC is subjected to forced liquidation as a
professional participant. During the reference period 3 auctions were organized,
regarding the sale of the assets managed by “Colaborare” JSC, but due to the lack of
participation requests these auctions did not take place.
According to the National Securities Commission (NSC) decisions No. 30/8 of
25.05.2006 and No. 63/6 of 23.11.2006, the activity of TC “Europa-Trust” JSC and
TC “Econ-Renastere” JSC, was suspended until the recovery of the whole
information from the clients registry of the nominal holder, which will be focused on
the company’s clients data base recovery.
According to the specialized statements presented by the trust companies
“F.O.N.D” JSC, “Europa - Trust” JSC, “Codru” JSC and “Econ – Renaştere” JSC, as
72
of 31.12.2013 , these funds provided services to 381.948 fiduciary accounts; and their
administered portfolio includes 622 shares in joint stock companies and shares in
limited liability companies.
By the end of 2013, the financial investments of trust companies achieved an
amount of 130.47 million MDL, of which 124.497 million MDL (95.4 percent) are
clients’ investments and 5.98 million MDL (4.6 percent) are the trust companies’ own
investments. For the total amount of financial investments made by trust companies
and by their clients, the long-term investments are valued at the end of 2013 at 110.53
million MDL or 84.71 percent, and the short-term investments at only 19.94 million
MDL or 15.29 percent. At the same time, the total income earned by companies
during the reporting period indicates a share of 72.58 percent obtained by short-term
investments, and only 27.42 percent – income generated by long-term investments.
The evolution of the main indicators of the 4 trust companies with a fiduciary
management activity is shown in Table No.32.
Table No.32 Evolution of the main indicators of fiduciary management activity
Indicators
Share capital, million MDL
Equity, million MDL
Investment result, million
MDL, including:
Dividends
Interest
Assets trading result
Net profit (loss), million MDL
Number of fiduciary accounts,
units
Number of portfolio’s
companies, units
Financial investments, million
MDL
Number of trust companies,
units
2010
1.65
2.97
3.73
2011
2.12
3.06
1.73
2012
2.12
3.31
2.81
2013
2.12
3.51
2.30
2.04
1.68
0.01
0.47
382830
0.66
1.58
-0.51
0.08
382132
1.08
1.79
-0.06
0.26
382017
0.69
1.81
-0.23
1.44
381948
642
631
629
622
135.21
128.7
129.5
130.47
4
4
4
4
The table reflects the fact that during 2010-2013, the number of managed
fiduciary accounts didn’t decrease significantly, the number of the portfolio of the
societies (as a result of the shares traded or societies’ liquidation) is constantly
decreasing, subsequently the managed investments decreased by about 4.74 million
7
Reduced by the amount of investments in joint stock companies excluded from State Register of legal persons
73
MDL as compared to 2010, with a small increase in the last 3 years. At the same
time, the net profit registered by the trust companies increased by 0.97 million MDL,
compared to 2010, and by 1.18 million MDL relative to the last year.
The return on the financial investments (i.e. the ratio of total investment income
to total investments) registered by trust companies’ clients is 1.36 percent, while
10.01 percent is recorded by the trust companies. Thus, a difference is ascertained
regarding this indicator to the detriment of the clients, because trust companies
investments are placed in income-generating assets (deposits), unlike trust companies’
clients assets which are dependent on the profitability of the stock companies and on
the payment of dividends.
The overall value of operational income registered by the trust companies during
the year 2013, represented 0.96 million MDL, of which 0.49 million MDL – as a
payment for the fiduciary management (according to the established standards, the
remuneration of a trust company should not exceed 25 per cent of the earned profit as
a result of its asset management activity). Therefore, the amount of remuneration
depends directly on the results of the investment management activity performed on
the behalf of the company’s clients.
As of 31.12.2013, the overall expenses registered by the trust companies were
1.30 million MDL. The value of expenses were higher than the value of the licensed
activity’s income. As a result, the trust companies recorded negative results in terms
of their operational activity.
All trust companies fulfil the mandatory fiduciary management activity standards
set in regards to the capital adequacy minimum limit (0.5 per cent of the managed
assets’ value, but not less than 200 thousand MDL) and to the guaranty fund (30 per
cent of the equity).
The economic and financial situation of the 4 trust companies is reflected in
Annex No.26.
Companies which provide evaluation of securities and of assets relating to
them
During 2013 , 5 companies acted on the securities market of the Republic of
Moldova, providing estimation of their securities and assets: „Bartol-Consulting”
JSC, „ICF-Consulting-Service” JSC, A.R.E. „Estimator-VM” JSC, „FinactivConsulting” JSC and „Evalestim” JSC, (further – securities valuation companies).
In 2013, according to the reports presented to the NCFM, securities valuation
companies have signed 55 contracts, obtaining an income of 0,6 million MDL (Annex
No.27). As compared to 2012, the securities valuation companies have signed with 40
74
contracts less, respectively and the income declined by 0,8 million MDL as compared
to the previous year (-57,1 percent) (Table No.33).
Table No.33 Number of concluded contracts and income generated by valuation companies
Indicator
31.12.2012
31.12.2013
2013 relative
to 2012, %
Number of contracts, units
95
55
-42,1
Income earned from securities valuation, million MDL
1,4
0,6
-57,1
The evolution of revenues and contracts signed by securities valuation
companies during the period 2011 - 2013 is shown in Diagram no.31 and Diagram
no.32.
0.60
0.50
0.40
0.30
0.20
0.10
0.00
Diagram No. 32 Evolution of contracts
signed to provide evaluation of securities
during the period of 2011-2013
units
million MDL
Diagram No.31 Evolution of income
generated by companies which provide
evaluation of securities and of assets
related to them during the period of 20112013
"Bart
ol
Cons
ultin
g"
JSC
A.R.
E.
"Esti
mato
rVM"
JSC
"Fin
activ
Cons
ultin
g"
JSC
"ICF
Cons
ultin
gServi
ce"
JSC
”Eva
lesti
m”
JSC
year 2011, mill. MDL
0.55
0.32
0.08
0.07
0.00
year 2012, mill. MDL
0.34
0.36
0.15
0.09
0.42
year 2013, mill. MDL
0.33
0.17
0.03
0.00
0.05
35
30
25
20
15
10
5
0
"Bartol
Consul
ting"
JSC
A.R.E.
"Estim
atorVM"
JSC
"Finact
ivConsul
ting"
JSC
"ICFConsul
tingService
" JSC
year 2011, un.
27
23
4
8
0
year 2012, un.
23
30
8
5
29
year 2013, un.
22
24
2
0
7
”Evale
stim”
JSC
All 5 companies have complied with the normative requirements for minimum
equity capital (200 thousand MDL), and only 3 companies („Bartol Consulting” JSC,
„Finactiv-Consulting” JSC and „Evalestim” JSC) have complied with the
requirements of the guarantee fund (60 thousand MDL), since they are placed in bank
deposits.
Of the 5 companies, have completed reporting period with positive financial
results only „Bartol Consulting” JSC and „Evalestim” JSC, but „ICF-ConsultingService” JSC, „Finactiv-Consulting” JSC and A.R.E. „Estimator-VM” JSC have
recorded financial results negative.
The equity capital of securities valuation companies have increased by 0,04
million MDL in 2013 compared to 2012, which consisted 1,66 percent (Table No.34).
Table No. 34 Evolution of key indices of valuation activity, thousand MDL
75
Indicators
Capital
Equity capital
Revenue from sales
Cost of sales
General and administrative expenses
Net profit
2011
2012
2013
1,1
1,9
1,3*
0,2
0,3
1,3
2,41
1,4*
0,5
0,3
1,3
2,45
1,1*
0,2
0,4
2013 compared to
2012,%
0
1,66
-21,43
-60
33,33
0,9
0,6
0,5
-16,67
* Included revenues from securities valuation services, consulting and real estate valuation
The decrease of the net profit by 0,1million MDL or 16,67 percent in 2013
compared to 2012 was mostly due to the decrease of revenue from sales, and an
increase in general and administrative expenses.
Securities valuation companies’ structure, reflected in Table No. 35, shows an
increase in 2013 compared to 2012 of current assets amounting to 0,16 million MDL,
which represents an increase of 12,12 percent (Annex No. 28).
1
Table No. 35 Securities valuation companies’ structure, million MDL
Indicators
31.12.2012, 31.12.2013,
Deviation
absolute,
relative,
million MDL
%
Total long-term assets
1,35
1,26
-0,09
-6,67
2
Total current assets
1,32
1,48
0,16
12,12
3
TOTAL ASSETS
2,67
2,74
0,07
2,62
Nr.
d/o
Professional participants exercising the activity of consulting and investment
consulting
During 2013, 27 professional participants were entitled to provide investment
consulting services. At the same time 19 professional participants were entitled to
provide only consulting services.
According to the reports presented by professional participants in 2013, it can be
stated that during the reference period have services were provided by the following:
1.
investment consulting:
- brokerage/dealer companies: „BROKER M-D” JSC, „Proajioc”
JSC, „Broker-Capital” JSC, „Passim” JSC, „Fincom” JSC, „DAAC –
Invest” JSC and CB „Victoriabank” JSC;
- trustee: „Codru” JSC.
2.
consulting:
- „Bursa de Valori Chișinău” JSC;
- securities valuation companies: „Bartol Consulting” JSC and
76
„Finactiv-Consulting” JSC;
- brokerage/dealer companies: „Gest-Capital” JSC, „Valinvest”
JSC;
- independent registers: „Depozitarul Central” JSC, „Real-Registr”
JSC, „Registrator-Centru” JSC, „Registru Ind” JSC and „Grupa
Financiară” JSC.
In the course of the year 2013 professionals participants have supplied with 26
investment consulting services less as compared to 2012, the income constituting 0,42
million MDL, decrease with 0,32 million MDL (with 43,12 percent) front of the
income in the previous year.
The number of provided consulting services have increased with 41 units,
respectively and the income increased as compared to the previous year with 117,96
percent and consisted 0,95 million MDL ( Annex No. 29).
Final conclusions
The evolution of the secondary securities market in 2013 showed an increase of
36.8 percent compared to 2012 due to increase of the volumes of transactions on the
stock market as well as OTC.
Similar to the previous year, this increase was mainly due to the significant
increase to the contribution to the capital of companies and volumes of stock
transactions of sale recorded interactive market of the volumes OTC. The largest
share of the volumes recorded in both segments returns securities issued by
commercial banks.
However, compared to the years 2011 - 2012 was shown to reduce the stock
transactions made following the outcry auctions with unique packages of securities
and auction organized by the Public Property Agency and OTC transactions made
under the judgment and the result of succession securities following the dissolution or
reorganization of the legal person shareholder.
Although during the years 2009 - 2011 was noted a tendency to dominate the
OTC segment of the stock by volume of transactions in the last 2 years volumes were
virtually equal in both segments
II. Insurance market development
2.1. Insurance companies activity
During 2013, 18 companies were licensed to carried out their business, of which
in the category of "general insurance" – 16 insurers, one insurance company has
developed composite activity and another one has developed life insurance. The
evolution of the insurers’ number is presented in the Diagram No. 33.
77
Diagram No. 33 Evolution of the number of licensed insurance
companies and insurance and reinsurance brokers
90
76
80
70
75
66
63
60
50
43
40
45
38
32
33
33
30
32
28
24
24
20
20
18
16
10
0
2003
2004
2005
2006
2007
Number of insurance companies
2008
2009
2010
2011
2012
2013
Number of insurance and reinsurance brokers
At the end of 2013, 16 insurers have carried out licensed activity in
insurance/reinsurance. During the year the licenses of the Company „ASIGURĂRI
GENERALE VITORIASIG” JSC and Joint Insurance Company „EXIM-ASINT” JSC
were withdrawn as a result of voluntary submission. At the same time, as a result of
supervision of the execution of financial remediation plan by the Insurance Company
„EUROASIG GRUP” JSC, NCFM requested the Court to initiate the process of
insolvability of the insurer, with the prohibition to subscribe some new insurance
contracts and accept respective premiums, as well as the prohibition for the insurer to
perform certain investments. As a result of non-compliance of solvency and liquidity
indicators of Joint Venture International Insurance Company „TRANSELIT” JSC to
the regulations in force, at the end of the reporting year was initiated financial
remediation procedure of the professional participant concerned.
In February 2013 from the composition of full members of the National Bureau
of Motor Insurers (NBMI) was excluded Insurance-Reinsurance Company
„MOLDCARGO” JSC and on September 27, 2013 by decision of the extraordinary
general meeting of NBMI members was excluded another operator - Joint Venture
Insurance Company “GRAWE CARAT ASIGURĂRI” JSC, which since October 10,
2013 was deprived of the right to issue insurance certificates "Green Card". In this
context, NCFM prescribed management bodies of the NBMI and insurers qualifying
as full members of NBMI unconditional compliance to the provisions of legislation
and statute. Simultaneously, Joint Venture Insurance Company “GRAWE CARAT
ASIGURĂRI” JSC contested in the Court the decision of the extraordinary general
meeting of NBMI members of 27.09.2013, as a result the execution of the NBMI
decision being suspended until the adoption of a definitive judgment.
At the same time, insurance companies „VICTORIA ASIGURĂRI” JSC and
„KLASSIKA ASIGURĂRI” JSC applied at the end of December 2012 to obtain the
status of full members of NBMI and the right to issue insurance certificates of
78
external compulsory motor third party liability "Green Card", and at the general
meeting of its members, NBMI adopted the decision to grant the right to nominate
insurers to issue insurance certificates "Green Card" since July 1, 2013.
Starting with February 1, 2013, was launched State Automated Information
System RCA Data, elaborated in accordance with the Government Decision no.133 of
27.02.2012 "On approval of technical concept of the State Automated Information
System on compulsory MTPL insurance". Through this Information System are
processed applications, contracts and policies/certificates of compulsory MTPL
insurance, by insurers are communicated and submitted informations related to MTPL
insurance contracts and the associated claim files in on-line mode to unique database
of the NCFM.
State Automated Information System allows operation with reliable information
used to determine the exact amount of insurance premium that each insured person is
going to pay according to his risk profile, in particular through the bonus-malus
system, which is meant to provide premium legal discounts (bonus) for disciplined
drivers and to apply premium increases (malus) for those who have produced road
accidents of their own fault. At the same time, the Information System will allow
exchange of information with the internal affairs authorities in order to exercise
control function regarding the possessing of MTPL and Green Card insurance. Not the
last, it is noted that the liability of the insurer for the insured risk begins from the
moment indicated in the insurance policy, document issued only through the
Information System, which allows countering fraud related to the conclusion of the
insurance contracts with previous data of road accidents.
Insurance Gross Written Premiums (GWP)
The gross written premiums revenues amounted to 1198.9 million MDL, of
which in the category of "general insurance" – 1125.4 mil. MDL, increasing by 104.7
million MDL or nominal 10.2 percent compared to the previous year and in "life
insurance" – 73.5 mil. MDL, increasing by 4.9 mil. MDL or 7.1 percent compared to
the previous year. The total gross written premiums amounted to a growth of 10.1
percent. The dynamics of the amount of gross written premiums is presented in the
table below:
Table No.36 Dynamics of gross written premiums’ amount during 2007-2013
Year
Gross written premiums
(mil MDL)
2007
2008
2009
2010
2011
2012
2013
724,2
837,2
816,5
914,7
1006,3
1089,3
1198,9
Nominal increase (decrease) compared
to the previous year
(per cent)
(mil MDL)
29,5
15,6
-2,5
12,0
164,6
113,0
-20,7
98,2
10,0
8,2
10,1
91,6
83,0
109,6
79
The growth of gross written premiums volume was influenced by the increase of
number of contracts of benevolent (optional) insurance of road vehicles (CASCO) and
compulsory Motor Third Party Liability (MTPL) insurance, due to the development
of distribution network of insurers and insurance and/or reinsurance brokers, as well
as an upward growth of bancassurance agents. Thus, during 2013, there were issued
1203647 insurance policies based on contracts concluded with natural persons and
legal entities, increasing by 43162 issued policies compared to the previous year. The
biggest share of the total number of policies is held by motor third party liability
insurance for which there were issued 889858 policies, while for life insurance there
were issued 3574 policies.
The share of the compulsory insurance in the structure of gross written premiums
in 2013 amounted to 41.0 percent, increasing by 0.3 percent compared to 2012,
respectively that of optional insurance – 59.0 percent. According to the insurance
object, in the segment of civil liability insurance there were written premiums in the
amount of 606.2 million MDL (50.5 percent), followed by property insurance – 431.1
million MDL (36.0 percent), personal insurance – 146.4 million MDL (12.2 percent)
and reinsurance premiums – 15.2 million MDL (1.3 percent) (Diagram No. 34).
Diagram No. 34 Structure of gross written premiums for 2012-2013
2012
12.4
35.8
2013
0.1
12.2
51.7
Property insurance (389,7 mil. MDL)
1.3
50.5
36.0
Property insurance (431,1 mil.MDL)
Personal insurance (134,9 mil. MDL)
Personal insurance (146,4 mil. MDL)
Civil liability insurance (563,5 mil.MDL)
Civil liability insurance (606,2 mil. MDL)
During the reporting period, the amount of gross written premiums for civil
liability insurance decreased by 1.5 percentage points compared to the previous year,
property insurance showed an increase of 0.2 percentage points, personal insurance
registered a decrease of 0.2 percentage points, while the premiums earned from
reinsurance increased by 1.2 percentage points.
Among all non-life insurance classes, the auto insurance held supremacy in the
consolidated portfolio of the market – 65.5 percent of the total written premiums from
direct insurance amounting to 1110.2 mil. MDL. The voluntary insurance CASCO
generated 19.3 percent of the total non-life direct insurance or 214.8 mil. MDL,
80
increasing in the nominal value by 22.4 mil. MDL compared with the previous period.
External compulsory motor third party liability insurance "Green Card" has increased
by over 16.4 percentage points (up to 245.8 mil. MDL - the equivalent of 22.1 percent
of the total non-life direct insurance), while the MTPL insurance - valid only within
the Republic of Moldova - increased by 5.2 percentage points and accounted for 238.8
million MDL or 21.5 percent of the total non-life direct insurance. The other type of
auto insurance generated written premiums from direct insurance by 28.2 mil. MDL
or 2.6 percentage points of the total.
As in the previous years, the evolution of the insurance market is characterized
by a high concentration. Thus, 5 insurance companies have subscribed 890.5 mil.
MDL or about 74.3 percent of the total gross premiums. The insurance gross written
premiums and the market shares of companies in 2013 are presented in the Annex No.
30.
The analysis of the degree of insurance penetration, expressed as a ratio of gross
written premiums to GDP, has registered a level of 1.2 percent, fact which attests the
evolution of the GDP index (in current prices) in 2013 over that of the volume of the
gross written premiums.
The insurance density, which is the ratio between the amount of gross written
premiums to the number of inhabitants, has reached the level of 337.0 MDL per
capita, more by 31.0 MDL per capita (10.1 percent) compared to the previous year.
The evolution of the degree of insurance penetration and insurance density is shown
in Diagram No.35.
Diagram No. 35 Evolution of the degree of insurance penetration and
insurance density in the Republic of Moldova
400
1.36
1.4
%
1.2
1.18
1.05
1.25
1.36
1.34
1.1
306
1.24
1
0.8
202.4
0.6
234.5
229
256.8
80.1
105
350
300
1.2
282.7
250
200
150
155.9
0.4
0.2
1.27 1.22
337
100
114.8
MDL/inhabitant
1.6
50
0
0
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Insurance penetration in GDP, %
Insurance density (MDL/inhabitant)
Compensations and insurance indemnities
During the reporting period, insurance companies have paid compensations and
insurance indemnities amounting to 432.4 million MDL, recording an insignificant
increase of 1.9 million MDL or 0.4 percent compared to the level of the previous year
81
(Annex No. 31). The dynamics of compensations and insurance indemnities paid for
general and life insurance is presented in the Table No.37:
Table No. 37 Dynamics of compensations and indemnities paid during 2007-2013
Year
Compensations and indemnities
paid (mil. MDL)
2007
2008
2009
2010
2011
2012
2013
235,3
273,8
361,2
322,7
348,4
430,5
432,4
Nominal increase (decrease) compared
to the previous year
(percent)
(mil. MDL)
23,0
44,0
16,4
38,5
31,9
87,4
-10,7
-38,5
8,0
25,7
23,6
82,1
0,4
1,9
The total amount of insurance paid claims compared to written premiums in
2013 constituted 36.1 percent, marking a decrease by 3.4 percentage points compared
to the level registered during the previous year. Within the internal compulsory motor
third party liability insurance, insurance paid claims as compared to the gross written
premiums amounted 35.8 percent and have decreased compared with 2012 by 2.4
percentage points, and within the external compulsory motor third party liability
insurance "Green Card", this ratio registered 28.9 percent, the decrease being 9.0
percentage points.
The cumulative amount of paid insurance claims for the motor insurance
(motor third party liability insurance and insurance of road vehicles (CASCO))
amounted to 283.2 million MDL or 66.8 percent of the total compensations paid in
non-life direct insurance in value of 424.1 million MDL.
The structure of compensations and insurance indemnities are presented in the
Diagram No.36.
Diagram No. 36 The structure of compensations and insurance indemnities paid in the
years 2012-2013
2012
2013
7.4% 0.2%
6.7% 0.3%
39.4%
54.6%
53.0%
38.4%
Civil liability insurance (169,5 mil.MDL)
Civil liability insurance (235,8 mil. MDL)
Property insurance (228,0 mil. MDL)
Property insurance (166,1 mil. MDL)
Personal insurance (32,0 mil.MDL)
Personal insurance (29,1 mil. MDL)
Compensation paid to reinsurance risk
received (1,0 mil. MDL)
Compensation paid to reinsurance risk
received (1,4 mil. MDL)
82
Net assets and social capital of insurance companies
At the end of 2013, the net assets of insurance companies constituted 1068.9
million MDL or by 172.9 mil. MDL (13.9 percent) less than the level recorded at the
same time in the previous year. Diagram No. 37.
Diagram No. 37 Net assets and social capital of insurance companies
for 2006-2013
1400
mil. MDL
1000
400
200
1,068.9
812.7
800
600
1,241.8
1,192.4
812,7
1200
656.4
364.9
296.5
207.7
176.7
388.5
323.1
515.2
388,5
556.7
469.3
0
2006
2007
2008
2009
2010
Net assets
2011
2012
2013
Social capital
The decrease of the net assets is due to the decrease in the number of
professional participants of the insurance market as a result of non-compliance with
the requirements of capitalization, solvency and liquidity, as well as adjustments
made by insurers as part of the transition to IFRS.
The total value of the social capital registered at the end of 2013 by insurance
companies amounted to 469.3 million MDL, decreasing by 87.4 million MDL or 15.7
percent compared to the previous year indicator. The annual financial balance sheet of
the insurance companies is presented in the Annex No. 32.
Investments in the social capital of domestic insurers made by non-residents at
the end of the reference year amounted to 106.12 mil. MDL, and decreased by 37.3
mil. MDL compared with 2012 (Table No. 38), as result of the withdrawal of the
license of the Joint Insurance Company „EXIM-ASINT” JSC and decrease of the
statutory capital of the Insurance-Reinsurance Company „DONARIS-GROUP” JSC
in order to comply with the requirements of legislation regarding the net assets.
Table No. 38 Evolution of foreign investments’ structure within the social capital
of insurance companies, milion MDL
State
2008
2009
2010
2011
Russian Federation
2,8
0,4
48,4
48,0
2012
-
2013
-
2013
compared
to 2012
-
Share in
2013, %
83
22,5
22,5
4,5
4,8
2,4
2,4
0,2
49,5
3,60
4,0
119,2
Austria
Great Britain
Liechtenstein
Holland
Italy
Israel
Ukraine
Cyprus
Romania
Switzerland
TOTAL
41,7
22,5
18,0
4,8
2,4
2,4
0,3
48,0
3,5
144,0
41,7
22,5
18,0
4,8
2,4
2,4
0,3
0
140,5
41,7
22,9
36,6
19,7
3,7
3,7
0,02
176,32
56,8
22,9
36,6
19,7
3,7
3,7
0,02
143,42
56,8
22,9
14,1
12,3
0.02
106,12
0
0
- 22,5
- 7,4
- 3,7
- 3,7
0
0
0
0
-37,3
53,5
21,6
13,2
11,6
-
0,1
100,0
During the reported period, the share of the non-residents in the total paid social
capital of insurance companies represents 22.6 percent. The list of insurance
companies with foreign capital is presented in Annex No. 33.
Insurance reserves
According to the data registered in the financial statements completed by
insurers for 2013, the total amount of insurance reserves consisted of 1042.2 million
MDL, registering an increase of 200.3 million MDL or 23.8 percent compared to the
indicator of the previous year (Diagram No.38). The increase is also due to the
regulatory changes of the insurance reserves’ formation, such that the insurer reports
the gross insurance reserves, and the reinsurer's share of these reserves is shown
separately.
Diagram No. 38 Insurance reserves of insurance companies
for 2008-2013
1200
1042.2
1000
841.9
722.7
800
600
437.2
487.5
515.6
2008
2009
2010
400
200
0
2011
2012
2013
The structure of the total amount of technical reserves constituted by insurance
companies includes technical reserves for general insurance in the amount of 761.1
million MDL (73.0 percent) and life insurance mathematical reserves amounting to
281.1 million MDL (27.0 percent). Compared to the year 2012, the technical reserves
formed by insurers who carried out general insurance activity, recorded an increase of
25.1 percent (or 152,9 million MDL), and the mathematical reserve established for
life insurance reported an increase of 20.3 percent (or 47.4 million MDL).
84
According to the regulatory framework in force regarding the solvency
guarantee, insurers are required to cover with admitted assets the insurance reserves
and a third of the minimum (required) solvency margin. Thus, assets admitted to
represent the Insured Fund must meet the principles of diversity, reimbursement,
profitability and liquidity. Categories of assets admitted to cover the Insured
(Policyholder) Fund are shown in Diagram No. 39.
In order to cover the risks assumed by insurance and reinsurance contracts and to
ensure permanently solvency and liquidity, the insurance companies must invest with
caution in certain categories of assets admitted to represent the insurance reserves and
a third of the minimum (required) solvency margin, complying the dispersion criteria
of placements according to the rules established by the Regulation on solvency
margins and liquidity coefficient of insurers (reinsurers) approved by NCFM Decision
no.2/1 of 21.01.2011.
Diagram No.39 Structure of assets representing reserves and
a third of the minimum solvency margin
11,7%
Securities (284,1 mil. MDL)
26,0%
5,9%
Bank deposits (323,0 mil.
MDL)
Available means in current
bank accounts and cash (89,3
mil. MDL)
Lands and buildings (201,3
mil. MDL)
18,5%
8,2%
Receivables related to written
premiums (63,8 mil. MDL)
29,7%
According to the established requirements, insurers are obliged to place
insurance reserves and a third of the minimum (required) solvency margin into
securities, bank deposits, available means in current bank accounts, available means
in cash offices, lands and buildings, receivables related to written premiums.
The structure of assets admitted to represent the technical reserves and a third of
the minimum (required) solvency margin of the insurer in total amount of 1088.7
million MDL includes the following assets:
- securities issued by the Government of the Republic of Moldova or by other
state authority worth 168.0 million MDL, representing 15.4 percent of the total
admitted value in Insured (Policyholder) Fund;
- corporate securities traded on a regulated market (stock exchange) of the
Republic of Moldova in the amount of 114.6 million MDL representing 10.5
percent of the total admitted value in Insured Fund;
85
- corporate securities which are not traded on a regulated market (stock
exchange) of the Republic of Moldova in the amount of 1.5 million MDL
representing 0.1 percent of the total admitted value in the Insured Fund;
- available means placed in the cash office amounting to 7.1 million MDL,
representing 0.7 percent of the total admitted value in Insured Fund;
- available means in current bank accounts in financial institutions licensed by
the NBM, including in foreign currency in the amount of 82.2 million MDL,
representing 7.5 percent of the total admitted value in Insured Fund;
- deposits and investments in the financial institutions licensed by the NBM
amounting to 323.0 million MDL representing 29.7 percent of the total
admitted value in Insured Fund;
- separate land or buildings or buildings and land located close enough to each
other to be considered effectively as one investment in a real legal interest in a
property worth 201.3 million MDL representing 18.5 percent of the total
admitted value in Insured Fund;
- receivables related to written premiums, provided that they are not older than
60 days amounting to 63.8 million MDL representing 5.9 percent of the total
admitted value in the Insured Fund;
- reinsurers' share in technical reserves amounting to 127.2 million MDL
representing 11.7 percent of the total admitted value in the Insured Fund.
The placement of assets admitted to represent the insurance reserves and a third of
the minimum (required) solvency margin of the insurance companies according to the
situation at the end of 2013 presented in Annex No. 34.
The evolution of the structure of assets admitted to cover the insurance reserves
and a third of the minimum solvency margin during the period 2009-2013 is presented
in the table below:
Table No. 39 The evolution of the structure of assets admitted to represent
insurance reserves and minimum solvency margin
Indicators
Securities
Bank deposits
Available means in
current bank
accounts and cash
office
Lands and
buildings
Receivables from
insured’s and
intermediaries
2009
mil.
%
MDL
34,3
7,1
276,5
57,2
41,8
8,6
2010
mil.
%
MDL
68,4
13,3
249
48,3
49
9,5
94,9
19,6
106,9
20,7
36,2
7,5
36,6
7,1
2011
mil.
MDL
203,2
184,8
74,7
26
23,6
9,5
2012
mil.
%
MDL
152,9
16,9
317,5
35,2
60,9
6,8
2013
mil.
%
MDL
284,1
26,0
323,0
29,7
89,3
8,2
160
20,5
185,6
20,6
201,3
18,5
44,4
5,7
54
6
63,8
5,9
%
86
Deposits at ceding
companies
Reinsurers' share
Total
-
-
5,7
1,1
-
-
-
-
-
0,0
483,7
100
515,6
100
115,1
782,2
14,7
100
130,4
901,3
14,5
100
127,2
1088,7
11,7
100
Subsidized insurance in agriculture
Subsidized insurance in agriculture is carried out in compliance with provisions
of the Law no.243-XV of July 8, 2004 "On providing subsidized agricultural
insurance for production risks in agriculture”, according to which the subsidies for the
payment of insurance premiums benefit agricultural producers who registered at the
town hall as well as crops and animals, poultry, bees and fish families belonging to
them according to the approved technologies, take measures to prevent disease and
pest attacks, and keep track of the work performed. The subsidies for the payment of
insurance premiums amounted to 60 percent for the insurance of perennial
plantations, sugar beet and vegetables and 50 percent for the insurance of other crops
and animals.
By the Government Decision of the Republic of Moldova no.152 of 31.01.2012
"On Approval of the distribution of means of the subsidies fund of the agricultural
producers for the year 2013" was accepted the distribution of the means of the
subsidies fund for agricultural producers in the amount of 400 million MDL, for a
range of support measures, including the stimulation of the insurance of production
risks in agriculture.
The means provided for this measure are used to subsidize the insurance
premiums for agricultural producers, based on the insurance contracts for the
production risks in agriculture and on the basis of the List of risks for which insurance
is subsidized from the subsidies fund of the agricultural producers for 2013, insurance
premiums in plant growing, horticulture, viticulture and livestock breeding (hail,
storms, excessive drought) and the List of crops and species of animals and poultry
for which insurance is subsidized from the subsidies fund of the agricultural
producers for year 2013 insurance premiums (sugar beet, sunflower, corn, etc.).
In 2013, only 4 insurance companies have carried out activities in the subsidized
insurance of production risks in agriculture.
According to the data provided by 4 insurance companies accredited to carry out
activity in this area, during 2013 there were concluded 264 contracts of subsidized
insurance of production risks in agriculture, with the insured sum of 1393.3 million
MDL. The cumulative amount of gross written premiums constituted 91.0 million
MDL, registering an increase of 16.5 million MDL compared to the value reported in
the previous year (Table No. 40).
Table no. 40 Gross written premiums and paid claims for subsidized insurance of
production risks in agriculture by insurance objects in the calendar year 2013, mil MDL
Insured
objects
Total
insurance
Including those paid by
Producătorul
Stat
Share in
total
Insurance
paid claims,
Share in total
claims
87
premiums,
mil. MDL
30,3
59,0
1,7
91,0
Harvest
Plantations
Animals
TOTAL
agricol
12,1
23,6
0,85
36,6
18,2
35,4
0,85
54,5
premiums
(percent)
33,27
64,90
1,83
100,0
mil. MDL
(percent)
13,1
13,9
0,4
27,4
47,83
50,83
1,34
100,00
Subsidies allocated to the payment of insurance premiums accounted for 54.5
million MDL or by 11.8 million MDL more than in the 2012, registering an increase
of the farmers’ interest for this type of insurance. At the same time, the potential of
agricultural insurance in the Republic of Moldova remains untapped, the areas
covered by insurance as only 3.3 percent of the total agricultural land.
Insurance paid claims constituted 27.4 million MDL and decreased by 3.6 times
compared to the previous year. The evolution of premiums and paid claims are
presented in the Diagram No. 40.
Diagram No. 40 Gross written premiums and paid claims for subsidized
insurance of production risks in agriculture ,by insurance objects, for period
2008-2013, mil MDL
120
100.2
100
91.0
74.6
80
60
43.2
42.3
39.6
40
20.8 23.6
20
23.9
27.4
23.9
13.1
0
2008
2009
2010
Gross written premiums
2011
2012
2013
Paid claims
The structure of the gross written premiums and paid claims (compensations) for
subsidized insurance (of risks for which insurance is subsidized from the subsidies
fund for agricultural producers for 2013) by types of risks, presented in Annex No.35,
reveals the following:
- for the risk of "hail" insurance written premium amounted to 37.4 million
MDL, and paid compensations - 17.9 million MDL, the compensation rate being of
47.9 percent;
- for the risk of "winter frosts" insurance written premium amounted to 14.1
million MDL, and paid compensations – 0.3 million MDL, the compensation rate
being of 2.1 percent;
- for the risk of "spring frosts" insurance written premium amounted to 22.4
million MDL, the compensation paid being equal to zero;
88
- for the risk of "excessive drought" insurance written premium amounted to
14.8 million MDL, and paid compensations - 8.7 million MDL, the compensation rate
being of 58.78 percent;
- for the risks included in the category "others", insurance written premium
amounted to 2.3 million MDL, and paid compensation - 0.5 million MDL the
compensation rate being of 21.74 percent.
With regard to insured agricultural crops, the largest share by volume of
premiums paid refers to orchard harvest, followed by grapes and sunflowers. The
share of paid premiums for crop insurance of the total subsidized insurance premiums
in agriculture constitutes 97.1 percent.
At the same time, the largest amount of compensations for insured crops were
paid to orchard owners, followed by sugar beet producers and those who ensured the
cultivation of grapes. The share of compensations for these crops in the total amount
of compensation paid for the risks in agriculture constitutes 91.4 percent (Diagram
No. 41).
Diagram No. 41 Gross written premiums and paid claims for subsidized insurance of
production risks in agriculture in 2013, mil MDL
Total amount of Gross written
premiums, mil. MDL
Total amount of paid claims, mil.
MDL
Orchard (fruit) (37,0 mil.
MDL)
Sunflower (10,5 mil.MDL)
0.2%1.8%
23.6%
0.9%
Autumn barley (0,2
mil.MDL)
Corn (4,9 mil. MDL)
5.4%
6.2%
0.5%
5.3%
0.4% 3.0%
0.2%
0.3%
Autumn wheat (2,7 mil.
MDL)
40.7% Vegetables (0,4 mil.MDL)
Orchard (fruit) (8,1
mil. MDL)
Sunflower (1,3 mil.
MDL)
1.3%
21.3%
7.0%
29.6%
Corn (0,1 mil.
MDL)
Vineyards (0,4 mil.MDL)
4.6%
Orchards (0,2 mil. MDL)
Autumn rape (5,6 mil. MDL)
11.6%
Sugar beet (4,9 mil. MDL)
Soy (0,8 mil.MDL)
Grapes (21,4 mil. MDL)
Tobacco (0,2 mil. MDL)
Animals (1,7 mil. MDL)
Vegetables (2,9
mil. MDL)
23.4%
10.7%
0.4%
1.7%
Autumn rape (0,5
mil. MDL)
Sugar beet (6,4
mil. MDL)
Soy (1,9 mil.MDL)
Grapes (5,8 mil.
MDL)
Animals (0,4 mil.
MDL)
Reinsurance activity
Reinsurance as a tool for risk transfer written by an insurance company to a
reinsurance company, leads to the improvement of the financial situation of the
transfer or by reducing technical risks, diversifies and homogenizes the insurance
portfolio and creates additional insurance capacity.
According to the legal norms in force, in the case of performing reinsurance to a
non-resident of the Republic of Moldova insurer (reinsurer), the own retention of the
insurer (reinsurer) resident of the Republic of Moldova must be at least 20% of total
volume of liabilities, provided that the requirements when the maximum limit of the
89
insurer (reinsurer) liability for an insured risk or taken in reinsurance may not exceed
25% of value of the owners’ equity and technical reserves.
The total amount of reinsurance premiums ceded in reinsurances during 2013
amounted 238.4 million MDL, of which – 234.9 million MDL - general insurance
related premiums, and 3.5 million MDL - life insurance related premiums. The
nominal decrease of ceded premiums compared to 2012 amounted to 22.8 million
MDL; the share of premiums ceded in reinsurance within the total amount of gross
written premiums in 2013 was 19.9 percent. The main indicators of reinsurance
activity are presented in Table below:
Table No. 41 Main indicators of reinsurance activity in 2013 (mil. MDL)
Indicators
Gross written premiums
Premiums ceded in reinsurance
Premiums earned for the risks received
in reinsurance
General
insurance
1125,4
234,9
15,2
Life insurance
Total
73,5
3,5
0
1198,9
238,4
15,2
During the reference year, reinsurance cessations were reported by 15 insurance
companies for the category of general insurance, for the life insurance category
cessations were reported by one insurance company.
The structure of premiums ceded in reinsurance at the end of 2013 includes:
- the amount of premiums ceded in general insurance equal to 234.9 million MDL
(20.9 percent) and their own retention level related to domestic insurers is 79.1
percent (890.5 million MDL) of the total gross written premiums for general
insurance;
- the amount of premiums ceded in reinsurance for life insurance equal to 3.5
million MDL (4.8 percent), respectively its own retention level is 95.2 percent
(70.0 million MDL).
At the national level, 6 insurance companies earned an amount of 15.2 million
MDL in premiums received in reinsurance from international insurance companies,
representing 1.3 percent of the total gross written premiums on the market. The report
on reinsurance operations is presented in Annex No. 36.
Financial results of insurance companies
According to the financial results registered at the end of 2013 by insurance
companies, the net profit (loss) recorded was 42.2 million MDL.
The aggregate value of the profit registered in the reporting period by 9
insurance companies amounted to 78.6 million MDL, which shows an increase of 5.2
million MDL compared with previous year's level.
90
The indicator of financial loss in the amount of 36.4 million MDL was registered
by 8 insurance companies, which is an increase of the value of losses by 21.1 million
MDL compared with previous year's level.
The main indicators of the activity of the insurance companies, as of December
31, 2013 are presented in Annex no. 37.
2.2.
Activity of insurance and/or reinsurance intermediaries
Under Law no.407-XVI of December 21, 2006 „On insurance”, insurance
intermediaries are insurance agents, bancassurance agents and insurance and/or
reinsurance brokers.
An insurance and/or reinsurance broker holds the status of a legal person registered
in the Republic of Moldova, who negotiates on behalf of its customers, individuals or
legal persons, the conclusion of insurance (reinsurance) contracts and assists during
the duration of contracts or with the regulation of damage claims.
By the end of 2013, on the insurance market performed intermediation activity
155 insurance agents - legal entities and 1516 insurance agents - natural persons
(individuals).
According to the register of insurance and/or reinsurance brokers, 76 brokers had
the license to conduct insurance and/or reinsurance mediation activity as of January
01, 2013, thus during the year 2013, there were granted licenses for 10 new
professional participants, at the same time, during the reference period being
withdrawn the licenses of 7 insurance and/or reinsurance brokers and expired licences
of 4 intermediaries, without having filed requests for the granting of new licenses.
Thus, by the end of 2013 on the insurance market performed intermediation activity
in insurance and/or reinsurance 75 licensed brokers.
Pursuant to the data from the specialized reports of insurance intermediaries, in
2013, the written premiums intermediated by brokers amounted to 320.8 million
MDL, 28.9 million MDL more than the indicator of 2012; therewith the revenue from
the intermediation activity amounted to 99.9 million MDL, increasing by 1.3 million
MDL compared to the previous period. The share of written premiums intermediated
by insurance and/or reinsurance brokers registered similar index from the previous
period, which is 26.8 percent of the total gross premiums underwritten by insurers.
The main indicators of the activity of insurance and/or reinsurance brokers as of
December 31, 2013 are presented in Annex No. 38.
2.3.
The Street Victims Protection Fund and the Compensation Fund
The Street Victims Protection Fund was established in accordance with the Law
no. 414-XVI of December 22, 2006 „On compulsory motor third party liability
insurance" and aims to protect persons injured due to accidents caused by vehicles
91
whose owners have not complied with the requirement of the compulsory motor
liability insurance, as well as unidentified vehicles and/or vehicles procured by
unlawful means.
During 2013, contributions in the amount of 4690.5 thousand MDL were
transferred to the Street Protection Victims Fund, or by 105.3 thousand MDL more
than in 2012. During the reference period there have been settled 106 requests for
compensation on behalf of the injured by car accidents in which the author and/or
vehicle remained unidentified or the vehicle owner failed to conclude the compulsory
motor liability insurance, being paid damages amounted to 4126.0 thousand MDL,
registering a decrease of 1546.9 thousand MDL compared to the value registered in
the previous year. At the same time, at the end of the period was formed the reserve of
reported but not settled claims in the total amount of 2317.9 thousand MDL for 70
claims, which are to be settled.
The National Bureau of Motor Insurers (NBMI) manages and uses the means of
the Compensation Fund in strict conformity with the General Regulations of the
Council of Bureaux. At the beginning of the reporting period available balance of the
Compensation Fund quantify 9813.9 thousand MDL, during the year 2013 being
transferred cash contributions in the amount of 4882.0 thousand MDL, at the same
time being made the following payments:
a) 36 of repayments to foreign National Bureaus of sums paid by them as
compensation of damage caused by holders of insurance certificates „Green Card", in
the total amount of 1446.2 thousand MDL;
b) 14 cases of compensation of damage caused by false, prohibited or modified,
altered insurance certificates „Green Card", in the total amount of 5594.7 thousand
MDL;
c) 144 cases of paying to the sufferers in order to compensate for the damage
caused to them in the Republic of Moldova by owners of insurance certificates
„Green Card" issued by foreign insurance companies, in the total amount of 7368.9
thousand MDL.
Final conclusions
During the reporting period NCFM has inserted a series of reforms in insurance
supervision infrastructure, consisting in particular in launching of the State
Automated Information System RCA Data through which is achieved the automatic
processing of insurance contracts, issuance of policies/certificates of compulsory
motor third party liability insurance, registration of claims and insurance reserves,
exchange of information with other state information systems, implementation of
rules for assessing real damages incurred under the compulsory motor third party
liability insurance and the way of compensation, actuarial capacity development and
their interaction with the auditors of professional participants in the insurance market.
In the same context, there is also to be referred to the implementation by insurance
92
companies of the new financial reporting requirements in accordance with IFRS, as
well as initiation of participation in assessment of the insurance sector, organised by
the IMF and the World Bank experts.
Developing the supervision capacity, NCFM has a priority that aims to
harmonise the legal framework in the insurance field to the European Directives and
to the principles of the International Association of Insurance Supervisors, to create
premises for the implementation of a risk-based supervision, approval and
implementation of the draft Law on Insurance Guarantee Fund, to create conditions
for the development of the sector, to increase the level of transparency and confidence
in the insurance products.
III. Development of the Microfinance Sector
During the year 2013 the microfinance sector in Republic of Moldova,
represented by savings and credit associations and microfinance organizations,
registered a constant increase in terms of its typical activity indicators. During the
reference period, 10.7 percent of the economically active population of the Republic
of Moldova, became microfinance sector’s loan recipients, a ratio that increased by
2.6 percentage points as compared to 2012 (Table No. 42).
Table No.42 Indicators of microfinance activity in Republic of Moldova
Indicators
Economically active
population (persons) 8
2013
1214500
1235900
2013 as
compared to
2012
101,8%
MO
TOTAL
SCA
MO
TOTAL
x
34192
64856
99048
36525
94871
131396
132,7%
Penetration rate (percent)
2,8
5,3
8,1
3,0
7,7
10,7
+2,6
Return on assets (percent)
3,3
4,8
4,6
4,9
7,9
7,4
+2,8
Return on equity (percent)
11,6
9,4
9,6
16,0
19,3
19,0
+9,4
Sector
Loan recipients (persons)
SCA
2012
9
The efficiency of assets and equity investments made by the national
microfinance sector’s entities are reflected by a rate of return of about 7.4 percent on
assets and, accordingly, 19.0 percent on equity, or, an increase of 2.8 percentage
point, and, accordingly, of 9.4 percentage points as compared to 2012. This increase
was conditioned by the significant growth in the net profit value about twice during
2013.
8
www.statistica.md
The indicated value represents the average number of loan recipients of savings and credit associations during one year
of activity.
9
93
Table No.43 Development of microfinance activity, million MDL
Indicator
2012
2013
2013 as
compared to
2012 (percent)
SCA
MO
TOTAL
SCA
MO
TOTAL
Granted loans
273,9
1590,1
1864,0
331,9
1897,0
2228,9
119,6
Total assets
334,5
1892,9
2227,4
403,9
2509,4
2913,3
130,8
Net profit
11,0
90,9
101,9
19,6
197,2
216,8
212,8
Similar to the previous
Diagram No. 42 Microfinance entities loan
year, during 2013 the basic
portfolio to GDP rate (percent)
national microfinance sector
3.14
3.5
activity indicators registered
2.79
3
2.53
2.28
growth, the loan portfolio
2.23
2.5
2.12
2.06
2.0
2.33
increasing with 19.6 percent
2
2.25
1.92
1.73
1.5
1.81 1.9
and the overall value of assets
1.75
1,66
0.8
1
0.61
0.56
0.53
recording a growth of 30.8
0,34
0.33
0,31
0.31
0.5
percent. (Table No. 43).
0
2006 2007 2008 2009 2010 2011 2012 2013
In
2013,
the
microfinance entities loan
SCA
MO
Microfinance sector
portfolio registered a 2.23
percent share in GDP, out of
which the SCA sector – 0.33 percent and the MO sector – 1.9 percent. This ratio was
relatively constant during 2013 (increasing by 0.11 percentage points as compared to
previous year), while the microfinance sector applied efficient and prudent riskmanagement policies to the lending operations (Diagram No. 42).
3.1. Activity of savings and credit associations
By the end of the reference period, 340 SCA had a license, out of which 302
worked with their members and creditors. In order to provide to its members the full
spectrum of services established by law, according to the category of license held, the
Statute and its policies, SCA have used the following sources:
1. Received loans and bank credits - 206 SCA;
2. Savings deposits - 64 SCA, out of which 30 SCA have not received loans and
bank credits;
3. Equity - 80 SCA.
94
Diagram No. 43 Evolution of the number of members of SCA, loan recipients and savings
depositors
160000
140000
120000
100000
80000
60000
40000
20000
0
2003 2004 2005
No of members
71177 78870 96500
No of loan recipients
39572 40749 44365
No of savings depositors 472 1685 2790
2006 2007 2008 2009 2010 2011 2012 2013
102326 110303 123588 124139 131675 137342 126746 127001
47568 49388 56548 40168 32152 31459 33020 34620
4447 5730 6720 6742 5851 5798 5824 5790
The analysis of the evolution of the SCA system during the period 2003-2013
(Diagram No. 43) ascertains a decrease of loan recipients’ number, during the period
2009-2011, and of savings depositors during the period 2010-2011. By the end of
2013, while the number of savings depositors decreased, the number of members and
of loan recipients registered an increase compared to 2012.
The evolution of the indicators regarding the number of members, of loan
recipients and of savings depositors, during the period 2003-2013, shows the
following results:
- increase of the number of SCA members, from 71.2 thousands persons to
127.0 thousands persons, or 1.8 times;
- decrease of the number of loan recipients from 39.6 thousands to 34.6
thousands persons, or by 12.6 per cent;
- increase of the number of savings depositors from 472 to 5.8 thousands
persons or 12.3 times.
By the end of 2013, the number of SCA members increased by 255 persons or by
0.2 percent compared to 2012. During the same period the indicator of the number of
savings depositors registered a decrease of 34 persons or of 0.6 percent. The number
of loan recipients was 34,620 persons, increasing by 1600 persons or by 4.8 percent
compared to the size of the indicator registered in 2012.
The evolution of the average value of a loan that goes to a loan recipient member
during 2003-2008 and 2010-2013 shows a growing demand for loans granted by the
SCA. In 2013 the level of this indicator reached the average value of 9,587 MDL,
registering an increase of 1291 MDL, or of 15.6 percent compared to 2012. During
the same period of analysis the average value of savings as deposits per depositor
member was 27,501 MDL, registering an increase of 6,889 MDL, or of 33.4 percent
compared to 2012 (Diagram No. 44).
95
Diagram No. 44 Evolution of the average value of a loan and of savings deposits, MDL
30000
27501
25000
20612
20000
15958
14506
15000
9649
10000
7004
0
11619 10664
10053
5770
5000
2507
2816
4000
2003
2004
2005
5262
2006
17871
6618
2007
Average loan
8956
8038
7597
8080
8296
2008
2009
2010
2011
2012
9587
2013
Average savings deposit
The increase of the average value of savings is the result of the growth
registered by the savings deposits reflected by the SCA with a B license category, by
32.7 percent and of the decrease registered by the savings depositors’ number.
Diagram No.45 Number of loan recipients and of members registered by the SCA with
A and B license category, 2013
80000
71090
70000
60000
55911
50000
License A
40000
30000
15512
20000
19108
License B
10000
0
No of members
No of loan recipients
The average loan granted by the SCA with a B license category was of 11,928.4
MDL, 77.9 percent higher than the average loan granted by the SCA with an A
category of license (6,703.9 MDL), as a result of the fact that the loan recipients
number and the amount of granted loans, registered by the SCA with a B license
category, overcome the relative value registered by the SCA with an A license
category (Diagram No.45). At the same time, the share of loan recipients’ number in
the total number of members registered by the SCA with B license category,
overcomes the relative share registered by the SCA with A license category, with 12.4
percentage points. Thus, the SCA register a low rate of active members, both the SCA
96
with an A license category (21.8 percent) and the SCA with a B license category (44.5
percent, including the savings depositors).
Taking into account that the number of the SCA with an A license category
overcomes the number of B category SCA 4.2 times, the loan portfolio registered by
the B license category is 2.2 times higher (Diagram No.46).
Diagram No.46 The value of granted loans and the value of total assets registered by the
SCA with an A license category and the SCA with a B license category in 2013, mil MDL
281.7
300.0
227.9
250.0
200.0
150.0
Granted loans
122.2
104.0
Total assets
100.0
50.0
0.0
License A
License B
Considering the assets and the loan portfolio values, the activity of the SCA
system during the period 2003-2008, expressed a continuous growth tendency,
followed by an about 50.0 percent decrease (Diagram No. 47). In 2013 a growth of
20.7 percent and of 21.2 percent respectively, is registered, as compared to 2012.
Diagram No. 47 The trend of the SCA indicators, during the period 2003-2013
700
590.7
600
500
415.4
400
200
366.2
323.5
300
239
124.5 149.7
100
99.2
114.8
2003
2004
403.9
506.4
289.3 300.5
326.8
334.5
322.9
250.3
254.2
331.9
273.9
244.2
177.5
0
2005
2006
2007
Total assets
2008
2009
2010
2011
2012
2013
Granted loans
According to the results reflected at the end of 2013, the development registered
by the SCA system is characterized by the following general activity indicators
reflected in Table No.44.
97
Table No.44 General indicators of the SCA activity
2013
Share of A
Share of B
license category license category
SCA (percent)
SCA (percent)
56,0
44,0
Indicators
2012
2013
Number of SCA members
(persons)
Number of loan recipients
(persons)
Number of savings depositors
(persons)
Ownership equity (million MDL)
Granted loans (million MDL)
Savings deposits (million MDL)
Received loans and bank credits
(million MDL)
126746
127001
2013
compared
to 2012
(percent)
100,2
33020
34620
104,8
44,8
55,2
5824
5790
99,4
-
100,0
95,2
273,9
120,0
100,9
122,5
331,9
159,2
105,4
128,7
121,2
132,7
104,5
43,3
31,3
58,4
56,7
68,7
100,0
41,6
The general information regarding the economic and financial situation of the
SCA at the end of 2013 is reflected in Annex No.39.
Assets of the savings and credit associations
As of the end of 2013, the consolidated amount of SCA assets is 403.9 million
MDL. The share of the B license category SCA in the total amount of the registered
assets is of 69.7 percent. The 20.7 percent increase registered by the total amount of
assets, compared to 2012, is a result of an increase by 21.2 percent of the granted
loans. The maximum share in the structure of SCA assets is held by granted loans that
accounts for 82.2 percent of the overall value of assets, which is by 0.3 percentage
points higher than in 2012.
The structure of SCA assets as of the end of 2012 and 2013 is shown in Table
No. 45.
Table No. 45 Structure of the Savings and credit associations’ assets (million MDL)
Assets
Securities
Bank deposits
Granted loans
Loan loss provisions
Long-term tangible and nontangible assets
Cash funds
Checking accounts
Interest receivables
Interest loss provisions
Other assets
TOTAL
2012
2013
Change in
2013 as
compared
to 2012
4,4
29,0
273,9
-9,8
4,2
27,3
331,9
-8,8
5,9
13,1
3,5
6,8
-2,0
9,7
334,5
2013
-0,2
-1,7
+58,0
+1,0
SCA with A
license
category
2,1
9,5
104,0
-3,3
SCA with B
license
category
2,1
17,8
227,9
-5,5
7,2
+1,3
1,6
5,6
12,2
6,6
5,1
-1,0
19,2
403,9
-0,9
+3,1
-1,7
+1,0
+9,5
+69,4
4,2
2,3
1,6
-0,8
1,0
122,2
8,0
4,3
3,5
-0,2
18,2
281,7
98
In 2013, similarly to the previous year, we can see the priority given by SCA to
profit-generating assets to the detriment of fixed and non-profitable assets. The share
of efficient assets increased in 2013, registering a 1.3 percentage points higher value
than the minimum level recommended by WOCCU.
The analysis of the financial structure of SCA assets as of 31.12.2013, classified
according to WOCCU recommendations shows the following indicators in Table No.
46:
Table No. 46 Financial structure of assets as of 31.12.2013
Share in overall
assets (per cent)
Indicators
I. Efficient Assets:
1. Granted loans (reduced by the
value of loan loss provisions
Liquid assets
2.
II. Inefficient Assets:
1. Long-term tangible and non2.
3.
tangible assets
Interest receivables (reduced
by the value of interest loss
provisions)
Other assets
Recommended
level/range
(share in
overall assets,
per cent)
2013 (per cent)
SCA with A
license
category
97,2
82,4
SCA with
B license
category
96,0
79,0
14,8
2,8
1,3
17,0
4,0
2,0
1,0
0,7
1,1
0,9
0,8
0,9
2012
2013
96,2
79,0
96,3
80,0
Minimum 95
70-80
17,2
3,8
1,8
16,3
3,7
1,8
Maximum 16
Maximum 5
1,4
0,6
Thus, we can see a favourable change in the assets structure of SCA caused by
the increase of granted loans and by the decrease of interest receivables, resulting in
the increase of earnings gained by the SCA. While the amount of liquid assets
registered an increase of 14.6 per cent, their share in the overall value of assets
decreased by 0.9 percentage points, overcoming the maximum level recommended by
WOCCU by 0.3 percentage points.
Ownership equity
The consolidated ownership equity of SCA at the end of 2013 was of 122.5
million MDL, registering a 27.3 million MDL or 28.7 per cent increase compared to
2012. In 2013, the SCA recorded a profit of 19.6 million MDL. The increase by 8.6
million MDL or by 78.2 percent of the registered profit is a consequence of the net
result from establishment and cancellation of loan loss provisions reduction
accompanied by the overall value of expenses increase, lower than the value of
income increase. The maximum share of 56.7 per cent, of the consolidated ownership
equity is held by the SCA with B license category.
The share of the institutional reserve in the total value of assets as of 31.12.2013
is of 29.9 per cent, while the minimum level recommended by WOCCU is 10 percent.
99
At the same time, the weight of members’ shares in the total value of assets, at the
same reference date, is 3.4 per cent, while the maximum level recommended by
WOCCU is 20.0 per cent. Under such circumstances, the SCA system registers
compliance with the requirements on capital adequacy, the observance of which
ensures the efficient SCA risk management.
Savings Deposits
As of 31.12.2013, the consolidated value of the SCA savings deposits was 159.2
million MDL, 32.7 per cent higher than in 2012 (Table no 47).
Table No. 47 Structure of savings deposits by due date
Due date
2012
(million
MDL)
2013
(million
MDL)
Up to 1 month
1-3 months
3 months – 1 year
1-3 years
3-5 years
Over 5 years
Total
4,9
6,9
89,9
18,3
0,0
0,0
120,0
9,3
11,5
107,4
28,7
2,3
0,0
159,2
2013 as
compared
to 2012
(per cent)
189,8
166,7
119,5
156,8
132,7
Share (per cent)
2012
2013
4,1
5,7
74,9
15,3
0,0
0,0
100,0
5,8
7,3
67,4
18,0
1,5
0,0
100,0
Similarly to 2012, SCA tend to accept savings deposits for a short term of up to
1 year, which is determined by the need to ensure the balance of due dates namely in
relation to the granted loans, most of which (80.5 percent) are granted for a short
term.
The maximum share (67.4 percent) is held by the savings deposits with due dates
of 3 months up to 1 year, which decreased in 2013 by 7.5 percentage points, while the
savings deposits with due dates of over an year increased.
The amount of savings deposits, as compared to that of received loans and bank
credits in 2012 and in 2013 is shown in Diagram No. 48.
The rate of financing the granted loans by savings deposits, recorded by the SCA
with B license category, is 69.9 per cent, overcoming the relative value registered at
the end of 2012 with 0.6 percentage points, reflecting the faster growth of the savings
deposits than the growth registered by the granted loans.
100
Diagram No. 48 Amount of savings deposits, received loans and bank credits recorded by the SCA
with a B license category, million MDL
159.2
200.0
120.0
150.0
100.0
43.8
39.8
50.0
0.0
2012
Savings deposits
2013
Received loans and bank credits
The share of savings deposits in the overall value of assets recorded at the end of
2013 by the SCA with a B license category is 56.5 percent, which is 0.7 percentage
points higher than in 2012 and highlights an insignificant decrease of the dependence
on external crediting sources, as a result of the increase registered by the savings
deposits, faster than the growth of the received loans and credits. At the same time,
this indicator remains below the range recommended by WOCCU (70-80 percent).
Loan Portfolio
The total value of loans granted to SCA members as of 31.12.2013 is 331.9
million MDL, 21.2 percent higher than in 2012 (Diagram No. 49).
Diagram No. 49 Structure of granted by SCA loans, million MDL
300.0
258.8
250.0
226.7
200.0
150.0
100.0
50.0
73.1
47.2
0.0
2012
Loans granted for over 1 year
2013
Short term granted loans
101
As of the end of 2013, loans granted up to one year made up 78.0 percent of the
total amount of granted loans, this indicator being 4.8 percentage points lower than in
2012, in favour of loans granted for over 1 year.
The largest share of loans was granted in agriculture and food industry - 46.73
percent. The structure of SCA loan portfolio by directions of use as of the end of
2013, is reflected in Diagram No. 50.
Diagram No. 50 The structure of loan portfolio of SCA by destination
24.31
0.06
16.45
6.06
0.57
12.45
5.82
46.73
Agriculture/food industry
Real estate
Consumer credit
Commerce
Roads and transportation
Other
Energy industry
By the end of 2013, loans for which the contract conditions are observed
(standards) account for 95.8 percent in the structure of the consolidated loan portfolio
of SCA, while the supervised loans (expired for up to 30 days) – 1.9 percent (Table
No. 48). Thus, a positive trend of the quality of loan portfolio is recorded, the share of
the standard loans increasing in 2013 by 1.9 percentage points.
Table No. 48 Structure of the portfolio of loans granted by savings and credits associations
Granted loans (total,
2013 (per cent)
million MDL)
2013 compared to
Category
SCA with A SCA with B
2012 (per cent)
2012
2013
license
license
category
category
Standard
257,1
318,0
123,7
31,1
68,9
Supervised
8,1
6,3
77,8
38,1
61,9
Substandard
2,3
2,7
117,4
29,6
70,4
Doubtful
2,6
2,5
96,2
8,0
92,0
Compromised
3,8
2,4
63,2
70,8
29,2
Total
273,9
331,9
121,2
31,3
68,7
102
The rate of delinquent loans as of 31.12.2012 was 6.1 percent, while at the end
of 2013 this indicator decreased to 4.2 percent in the total value of granted loans,
decreasing at the same time, under the maximum level set by WOCCU, by 0.8
percentage points. One of the reasons for the level of the delinquent loans share is the
fact that the unsecured loans hold the largest share in the loan portfolio – 94.2 per
cent, 0.8 percentage points lower than in the similar period of the previous year. The
SCA with A license category register a rate of delinquent loans of 5.0 per cent,
exceeding the similar indicator recorded by the SCA with B license category by 1.2
percentage points.
Financial results
In 2013, the SCA system has recorded a net profit of 19.6 million MDL,
increasing by 78.2 percent. Granted loans interest income increased by 9.2 million
MDL or by 13.3 percent, while the expenses on interest related to savings deposits
recorded an increase of 2.8 million MDL or of 19.2 percent. While the expenses
related to other interests (received loans and bank credits) remained unchanged, the
value of other operational expenses decreased by 15.2 per cent. The financial results
of SCA are shown in the Table No. 49.
Table No. 49 Financial results of savings and credit associations
TOTAL
2013
Share of A
Share of B
license
license
category
category
SCA
SCA
(percent)
(percent)
2012
2013
(million
MDL)
(million
MDL)
2013
as compared to
2012
(percent)
Interest income, related to granted loans
69,4
78,6
113,3
37,0
63,0
Other income from interest
Net result from the establishment and
cancellation of provisions
Other operational income
Result from the investment activity
(profit)
Result from the financial activity (profit)
Exceptional result: profit (loss)
2,4
2,5
104,2
32,0
68,0
-10,3
-4,8
46,6
10,2
89,8
26,2
27,2
103,8
31,2
68,8
1,0
1,0
-
50,0
50,0
0,0
0,0
0,0
0,0
-
-
-
0,0
0,0
-
-
-
88,7
104,5
117,8
36,9
63,1
Expenses on savings deposit-related
interest
14,6
17,4
119,2
0,0
100,0
Expenses related to other interest
General and administrative expenses
Other operational expenses
Total expenses
Net profit / Net loss
17,0
42,8
3,3
77,7
11,0
17,0
47,7
2,8
84,9
19,6
111,4
84,8
109,3
178,2
64,7
41,5
46,4
37,8
33,2
35,3
58,5
53,6
62,2
66,8
Indicators
Expenses (savings) on the income tax
Total income
103
As of 31.12.2013, the recorded number of SCA employees was 822 persons,
registering a 5.8 percent decrease compared to 31.12.2012. During the same period,
the general and administrative expenses increased by 11.4 per cent, while on
31.12.2012 there was registered an increase of 8.6 per cent compared to the same
period of 2011. At the same time, the share of general and administrative expenses in
the overall value of assets is 11.8 per cent, by 1.0 percentage points less than the share
recorded on 31.12.2012, exceeding the maximum level of 5.0 per cent set by
WOCCU.
The SCA with a B license category make up 19.2 per cent of the total number of
SCA. At the same time these SCA recorded a value of income gained as commission,
fees, penalty related to granted loans that were not repaid in due time (delinquent
loans) and other income resulted from the basic activity that overcomes 2.2 times the
amount recorded by the SCA with an A license category. Also, the negative net result
from the establishment and cancellation of provisions registered by the SCA with a B
license category is 8.8 times higher than the similar indicator recorded by the SCA
with an A license category.
Evaluation of the savings and credits associations system using the PEARLS
model
The assessment of the indicators regarding the effective financial structure,
assets quality, liquidity and the signs of growth, according to the PEARLS model is
reflected in Table No. 50.
Table No. 50 PEARLS analysis
2012 (%)
PEARLS indicators
Accumulated Charge-offs Recovered /
Accumulated Charge-offs
Net loans / Total assets
Liquid assets / Total assets
Securities / Total assets
Savings deposits / Total assets
Received loans and bank credits /
Total assets
Member shares / Total assets
Institutional capital10 / Total assets
Total Loan Delinquency / Gross Loan
Portfolio
Non-earning assets 11 / Total assets
2013 (%)
Recommend
ed
level / range
(per cent)
SCA with
A
license
category
42.3
SCA with
B
license
category
39.8
SCA with
A
license
category
75.3
SCA with
B
license
category
133.5
80.0
15.8
78.4
17.2
82.4
14.8
79.0
17.0
70-80
≤ 16
1.7
-
1.1
55.8
1.7
-
0.7
39.4
≤2
70-80
50.9
18.5
50.4
15.5
0-5
36.4
2.6
17.9
36.9
2.1
22.6
≤ 20
≥ 10
9.0
4.5
5.0
3.8
≤5
7.1
9.4
5.6
5.8
≤5
> 75
10
The institutional capital in the case of the analyzed indicator consists of legal reserves and the surplus created from accumulations
of net profit and donations.
104
Liquidity reserve 12 / Total Savings
Deposits
Cash funds / Total assets
-
13.5
-
12.4
≥10
4.9
3.4
3.5
2.8
<1
The accumulated charge-offs recovered during 2013 to total accumulated chargeoffs ratio achieved a proportion of 75.3 percent for SCA with an A license category
and of 133.5 percent for SCA with a B license category, exceeding the minimum level
recommended by WOCCU.
The increase of the net value of the loan portfolio to the total value of assets ratio
is due to both to the increase of the loan portfolio in 2013 as compared to 2012, and to
the decrease of loan loss provisions to the total amount of granted loans ratio. The
amount of this indicator fits in the range recommended by the PEARLS model, for the
SCA with a B license category, exceeding it in the case of the SCA with an A license
category.
The value of liquid assets to the total value of assets ratio, in 2013, unlike 2012,
exceeds the recommended maximum level (16 percent), in terms of the B license
category SCA. As a result, the registered decrease negatively influence the investment
made by the SCA in interest-generating assets, fact also proved by the increase of the
share of non-income assets in the overall value of assets recorded by the B license
SCA.
The share of securities in the overall value of assets and the weight of member
shares in the overall value of assets both in 2013 and 2012 does not exceed the
maximum levels – 2.0 percent and 20.0 percent. The value of institutional capital to
the total value of assets ratio exceeds the recommended minimum limit of 10 percent.
In this context, SCA have the tendency to make additional reserves to cover potential
operational, investment, financial or exceptional losses.
The value of financing sources of SCA with a B license category records a
negative deviation in 2013 of 30.6 percentage points as compared to the minimum
level recommended by WOCCU, regarding the value of savings deposits to total
assets ratio.
The share of delinquent loans did not exceed in 2013 the recommended
maximum level of 5.0 percent, registering a negative deviation of 4.0 percentage
points, in terms of A license category SCA results, and of 0.7 percentage points, in
case of B license category SCA, compared to the end of 2012. The situation that
results is due to the decrease registered by the value of the delinquent loans, by 17.5
percent, simultaneously with the increase registered by the value of the overall loan
portfolio.
11
12
Assets that do not generate incomes are represented by cash funds, long-term tangible and non-tangible assets and other assets.
The calculation formula is: (liquid assets - 10% of the total value of assets).
105
Even if the share of cash funds registers a value that exceeds the recommended
minimum level, both for A category SCA and B category SCA, it registers a positive
deviation in 2013. At the same time, the indicator that reflects the liquidity reserves to
the value of savings deposits ratio records a negative deviation in 2013, exceeding
though the recommended level.
3.2. Activity of Microfinance Organizations
As of the end of 2013 there were registered 85 microfinance organizations, out
of which 68 submitted financial statements. The evolution of this system is
characterized by general activity indicators presented in Table No.51.
Table No.51 General Indicators of the MOs Activity
No.
Indicators
2012
2013
2013 as
compared to
2012 (+,-)
2013 as
compared to
2012 (percent)
1.
Number of organizations (units)
73
85
+12
116,4
2.
3.
4.
5.
Ownership equity (mil MDL)
Total assets (mil MDL)
Granted loans (mil MDL)
Received loans and bank credits
(mil MDL)
Net profit (mil MDL)
Return on assets rate (percent)
970,7
1892,9
1590,1
835,0
1020,6
2509,4
1897,0
1280,4
+49,9
+616,5
+306,9
+445,4
105,1
132,6
119,3
153,3
90,9
4,8
197,2
7,9
+106,3
+3,1
216,9
-
6.
7.
During 2013, the main indicators on the MOs activity registered a significant
increase as compared to the similar period of the previous year. The number of MOs
grew by 12 units or about 16.4 percent, following the same trend registered during the
last 8 years of system evolution. The increase of the net profit of about 116.9 percent
as compared to 2012 is determined by the growth of the loan portfolio by 19.3 percent
as compared to the previous period, due to a 53.3 percent growth of the received loans
and bank credits. The increase of the return on assets by 3.1 percentage points as
compared to the previous year indicates the fact that the MOs invest predominantly in
interest-bearing assets with high profitability.
The MOs assets, the largest share of which is held by loan portfolio, during 2006
– 2008, registered a constant growth by 40.0 percent on average. At the same time,
during 2009-2010, with an increasing number of MOs by 34.3 percent there was
registered an asset value decrease by 14.3 percent on average. The period of 20112012 was characterized by an insignificant assets growth by 3.0 percent on average.
At the end of 2013, the system recorded the maximum value of the sector, with an
amount of 2,509.4 million MDL, a growth by 32.6 percent as compared to the same
period of the previous year. (Diagram No. 51).
106
Diagram No. 51 Development of number and total assets of MOs
3000
85
73
59
1933.8
1917.3
2000
1500
2509.4
2454.9
2500
1783.9
1266.5
35
1000
43
24
11
500
1892.9
1844.3
13
0
2006
2007
2008
2009
2010
2011
Total assets, mil. mdl
2012
90
85
80
75
70
65
60
55
50
45
40
35
30
25
20
15
10
5
0
2013
Number of MOs
The MOs equity registered a continuous growth during 2006 – 2012. As a result,
this indicator is 10.3 times higher, achieving by the end of 2013 the amount of 1020.6
million MDL (Diagram No. 52). The continuous significant growth of this indicator
definitely reflects an increase of the overall financial stability of the whole MOs
system. The high rate of capitalization is determined by the 7.5 times increase of the
net profit resulted from the lending activity during the last 7 years.
Diagram No. 52 Development of MOs ownership equity, net profit and return on equity
1200
25
22.5
970.7
960.8
1000
20
18.2
800
14.2
19.3
15.7
491.1
600
405.3
658.4
12.9
15
11.9
184
99.1
22.3
26.2
73.8
10
9.4
400
200
1020.6
77.1
85.2
114.6
90.9
197.2 5
0
0
2006
2007
2008
Ownership equity, mil. MDL
2009
2010
Net profit, mil MDL
2011
2012
2013
Financial profitability, %
The return on equity registered a temperate decrease during 2006-2012, the
lowest level being reached at the end of 2012 – of about 9.4 percent. The slowdown in
the evolution of this indicator is determined by the significantly higher growth pace of
the ownership equity as compared to the slower growth pace of the net profit.
Although, the enhanced ability of MOs to generate net profit through own capital
107
used in their activity fostered the significant increase of the financial profitability by
about 105 percent as compared to the end of the previous year.
Diagram No. 53 Guaranteeing MOs granted loans by due terms
Structure of granted loans, percent
Due term of granted loans
120
2013,
7.9%
2.1
100
58
2012,
5.0%
2012,
56.6%
17.3
24.3
80
2013,
36.3%
45.4
60
2012,
38.4%
40
20
42
75.7
82.7
2012
2013
97.9
100
2012
2013
54.6
0
2013,
55.8%
2012
2013
Up to 1 year
Up to 1 year
0
1 to 5 years
1 to 5 years
Unguaranteed
More than 5 years
More than 5 years
Guaranteed
According to the values shown in Diagram No. 53, the largest share of loans
provided by MOs – of 55.8 percent, are granted for an average term of 1 to 5 years,
82.7 percent out of which are guaranteed. At the same time, 36.3 percent of loans are
granted for a term up to 1 year, 54.6 percent of which are guaranteed, while other 7.9
percent of loans are granted for an over 5 years term – these being 100 percent
guaranteed. Thus, it can be concluded that MOs apply a more prudent policy of loan
portfolio management as compared to the previous year, ensuring their delinquency
risks of granted loans as their due terms are increasing.
Diagram No. 54 The classification of granted loans by
7.0%
destionation
35.1%
15.3%
22.7%
1,5 %
18.4%
Agriculture
Real estate
Consumer
Industry and commerce
Roads and transportation
Other purposes
108
The destination of loans provided by MOs is dispersed relatively proportional
throughout the whole range of national economy sectors (Diagram No.54). However,
the maximum share, of about 35.1 percent is held by loans that according to the
accounting classification are loans granted for “other purposes”, registering an
increase by 77.3 percent as compared to 2012. Out of these loans, 46 percent are loans
granted to SCAs mainly by two MOs.
The 22.7 percent share is held by consumer loans, 18.4 percent are granted for
industry and commerce sector, the priority being given to micro, small and medium
enterprises and other 15.3 percent represent mortgage loans, the significant share of
which is determined by the high value of loans for real estate purchasing, compared to
the low number of borrowers.
The basic indicators of MOs activity in 2013 are reflected in the Annex No.40.
IV. Activity of the Credit History Bureaus
In 2011 a credit history bureaus launched its activity, providing services related
to the creation, processing and storage of credit history, as well as to issuing credit
reports. As of 31.12.2013, the credit history bureaus JV ”Biroul de Credit” LLC
registered information for the providing services agreements concluded with 23
entities – sources for creation / users of credit history, including:
- 15 commercial banks, of which only 14 banks provide information to the credit
history bureaus;
- 1 leasing company;
- 7 microfinance organizations.
Table No. 52 General indicators on credit history bureaus
Number of credit agreements concluded by
1
the credit histories sources
Number of credit histories registered in the
2
credit history bureaus database
Number of
3submitted credit
reports
Credit history users
Credit history
subjects
Reporting period
The
situation as
Legal
Individuals
of 31.12.12
entities
The
situation as
of 31.12.13
84 152
14 937
343 181
128 718
15 030
285
144 033
234 420
178 187
16 156
428 763
257
89
20
366
244 092
109
Data analysis shows that on the background of the increase, by 40.6 percent, of
the credit contracts’ number concluded by the sources of the credit history bureaus,
the number of the credit history contained in the database of the bureaus has increased
by 12 percent, fact which shows the amplification of crediting the people who already
have a positive credit history.
At the same time, compared with the situation at 31.12.2012 there is a positive
trend regarding the number of credit reports submitted by the credit history bureaus to
the credit history users, this indicator registering an increase of about 1.8 times, fact
which shows that the information obtained from the credit history bureaus is an
additional guarantee measure against credit risk.
110
Annex No.1
Organizational structure of the National Commission for Financial Markets
Administrative Council
Chairman
Member
Vice-chairman
Vice-chairman
Member
General Executive Directorate (19)
Directorate of
Information
Technologies (5)
Foreign Relations and Development Directorate (6)
Documentation and Archives Directorate (7)
Stability and service monitoring activities to prevent and
combat money laundering and terrorist financing (1)
Press office (1)
Internal Audit Service (1)
Staffing and Labor Relations Service (1)
General Directorate
of legal assistance
(11)
General Directorate of
Securities Supervision
(17)
General Directorate
of Insurance
Supervision
(18)
Legal Expertise
Direcorate
Regulation and
Authorization of
Professional Participants
Directorate
(6)
Monitoring and Control
of Professional
Participants Directorate
(8)
Monitoring, Statistics
and Actuarial
Directorate
(5)
Insurance Regulation
and Authorization
Directorate
(6)
Insurance Monitoring
and Control
Directorate
(6)
(5)
Legal Representation
Directorate
(5)
Issuers Monitoring
Directorate
(9)
Economic,
Security Financial
Service (1)
General Directorate Internal
and Administrative
of Collective
General Directorate
Placements and
(15)
Micro-financing (18)
(18)
Collective Placements
Regulation and
Supervision
Directorate
(6)
Budget and
Accounting Division
(3)
Administrative and
Logistics Division (11)
Territorial
Representatives (5)
Territorial
Representative Comrat
(2)
Territorial
Representative Bălţi
(3)
Savings and Credit
Associations
Regulation and
Supervision
Directorate
(11)
111
Annex No. 2
Regulatory decisions of the National Commission for Financial Markets
approved in 2012
No. Approved, modified or Cancelled by-law
NCFM decision
Brief content
of the decision
I. Regulation on the National Commission for Financial Markets’ organization
and functioning
1. Decision on amending the Annex to the
Decision of the Parliament no. 276 of
Parliamentary
Approved
06.12.2012 on approval of the NCFM’s budget Decision no. 35 of
07.03.2013
2.
3.
4.
5.
Decision on amending the Annex to the
Decision of the National Commission for
Financial Markets no. 13/12 of 01.04.2010 ‘On
the Expert Council under the National
Commission for Financial Markets’
Decision on confirmation of the Order of the
Chairman of the National Commission for
Financial Markets on allocation of functions
and functional activity to the Deputy chairmen
and members of the Administrative Council.
Decision of the National Commission for
Financial Markets No. 8/11 of 01.03.2013 ‘On
confirmation of the Order of the Chairman of
the National Commission for Financial
Markets on the distribution of functional
responsibilities to the members of the
Administrative Council’
Decision on amending the Decision of the
National Commission for Financial Markets
No. 25/16 of 07.06.2013 ‘On approval of the
certification committee of the professional
participants’ specialists of the non-banking
financial market’
Decision on the approval of the structure and
staff
Decision of the National Commission for
Financial Markets no. 45/13 of 09.11.2011 ‘On
approval of the structure and staff’.
NCFM Decision
no. 59/13 of
14.12.2013
NCFM Decision
no. 34/8 of
19.07.2013
Approved
Approved
Cancelled
NCFM Decision
no. 38/14 of
08.08.2013
NCFM Decision
no. 49/9 of
18.10.2013
Approved
Approved
Cancelled
112
6.
Decision on amending the NCFM Decision no.
26/13
of
28.05.2009
‘On
regional
representatives of the National Commission
for Financial Markets’
NCFM Decision
no. 59/3 of
14.12.2013
Approved
Decision on amending the NCFM Decision no.
13/12 of 01.04.2010 ‘On the Expert Council
under the National Commission for Financial
Markets’
NCFM Decision
no. 12/12 of
22.03.2013
Approved
Protocol
record
on
amending
and
supplementing the Regulation on internal order
of the National Commission for Financial
Markets
Protocol record
no. 54/14 of
08.11.2013
Approved
Decision on approving of the Activity Plan of
the National Commission for Financial
Markets
NCFM Decision
no. 61/9 of
27.12.2013
Approved
7.
8.
9.
II. Regulations developed by the National Commission for Financial Markets
10. Decision on approving of amendments to the
NCFM Decision
Regulations of the National Securities
no. 46/9 of
Approved
Depository of the Republic of Moldova
23.09.2013
11. Decision on approval of the Concept on
NCFM Decision
general mechanism for trading government
no. 59/12 of
Approved
securities with a maturity greater than one year
14.12.2013
on the stock market
12. Decision on approval of the Regulation on the
NCFM Decision
conclusion of transactions to which notice is
no. 10/9 of
Approved
given by insurers (reinsurers)
15.03.2013
13.
NCFM Decision
Decision on motor third party liability
no. 26/10 of
Approved
insurance premiums
13.06.2013
14.
Law no. 202 of
Law on consumers’ credit contracts
Approved
12.07.2013
113
Annex No.3
Records made in the Register of licenses issued, reissued, suspended and withdrawn in 2013
Nr.
Name of the professional
participant
License
status
1.
IBR ‚BLAJCO ASIST’ LLC
Granted
2.
IBR ‚REGALASIG’ LLC
Granted
3.
IBR ‚ASIGVITAL’ LLC
Granted
4.
5.
IBR ‚INVEST-BROKER’
LLC
IBR ‚ALLIANCE ASIG’
LLC
Granted
Granted
6.
IBR ‚ERVAX GRUP’ LLC
Granted
7.
IB ‚DUVISTAR’ LLC
Granted
8.
IBR ‘CIVERINS’ LLC
Granted
9.
IBR ‘LUCIADA’ LLC
Granted
10.
11.
12.
13.
14.
IBR ‘CAPITAL BROKER’
LLC
‘ANAVIMAX BROKER
ASIGURARE DE VIATA’
LLC
CC ‘T.A.T.I. GRUP
BROKER DE
ASIGURARE’ LLC
FCE ‘EUROLIFE BROKER
DE ASIGURARE’ LLC
IB ‘BROKER EXPERT’
Granted
NCFM Decision or minutes
Type of activity
Granted licenses
Decision no. 7/4 of
Broker intermediation in insurance and/or reinsurance
22.02.2013
Decision no. 7/5 of
Broker intermediation in insurance and/or reinsurance
22.02.2013
Decision no. 8/5 of
Broker intermediation in insurance and/or reinsurance
01.03.2013
Decision no. 10/6 of
Broker intermediation in insurance and/or reinsurance
15.03.2013
Decision no. 12/3 of
Broker intermediation in insurance and/or reinsurance
22.03.2013
Decision no. 12/4 of
Broker intermediation in insurance and/or reinsurance
22.03.2014
Decision no. 14/10 of
Broker intermediation in insurance
29.03.2013
Decision no. 14/9 of
Broker intermediation in insurance and/or reinsurance
29.03.2013
Decision no. 17/5 of
Broker intermediation in insurance and/or reinsurance
11.04.2013
Decision no. 18/2 of
Broker intermediation in insurance and/or reinsurance
19.04.2013
Date of license
expiration
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
Granted
Decision no. 18/6 of
19.04.2013
Broker intermediation in insurance
unlimited
Granted
Decision no. 18/7 of
19.04.2013
Broker intermediation in insurance
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
Broker intermediation in insurance
unlimited
Granted
Granted
Decision no. 20/8 of
26.04.2013
Decision no. 21/8 of
114
LLC
15.
IRB ‘AMP BROKER’ LLC
Granted
16.
‘Broking-VM’ JSC
Granted
17.
IBR ‘PRODEVIZ’ LLC
Granted
18.
IBR ‘TOP BROKER’ LLC
Granted
19.
FCE ‘WVP BROKER DE
ASIGURARE’ LLC
Granted
20.
IBR ‘EUASIG’ LLC
Granted
21.
SCA ‘Cernoleauca’
Granted
22.
SCA ‘Corlateni’
Granted
23.
SCA ‘Viisoara-Domneacsa’
Granted
24.
IBR ‘MCA-BROKER’ LLC
Granted
25.
IBR ‘EXLUSIV-ASIG’ LLC
Granted
26.
‘FINCOM’ JSC
Granted
27.
SCA ‘Tetcani’
Granted
28.
SCA ‘Furnica-Razeni’
Granted
29.
IBR ‘DESTINE ASIG’ LLC
Granted
30.
31.
32.
IBR ‘UNIVERSAL ASIG’
LLC
IBR ‘SAFETY BROKER’
LLC
IBR ‘BEST BROKER’ LLC
Granted
Granted
Granted
02.05.2013
Decision no. 23/7 of
24.05.2013
Decision 24/10 of
31.05.2013
Decision no. 24/3 of
31.05.2013
Decision no. 24/4 of
31.05.2013
Decision no. 25/11 of
07.06.2013
Decision no. 26/6 of
13.06.2013
Decision no. 29/4 of
21.06.2013
Decision no. 33/7 of
16.07.2013
Decision no. 34/3 of
19.07.2013
Decision no. 38/11 of
08.08.2013
Decision no. 40/9 of
15.08.2013
Decision no. 44/1 of
13.09.2013
Decision no. 46/13 of
27.09.2013
Decision no. 48/19 of
11.10.2013
Decision no. 48/2 of
11.10.2013
Decision no. 48/3 of
11.10.2013
Decision no. 56/3 of
25.11.2013
Decision no. 57/7 of
Broker intermediation in insurance and/or reinsurance
Stock exchange (basic)
Investment consulting (connected)
unlimited
07.06.2018
Broker intermediation in insurance and/or reinsurance
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
Broker intermediation in insurance
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
Savings and loan associations, B category
unlimited
Savings and loan associations, B category
unlimited
Savings and loan associations, B category
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
Dealer (basic), broker
14.03.2015
Underwriting and investment consulting (connected)
Savings and loan associations, A category
unlimited
Savings and loan associations, B category
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
115
33.
IBR ‘CITY BROKER’ LLC
1.
IRC ‘MOLDCARGO’ JSC
Reissued
2.
MEIC ‘GRAWE CARAT’ JSC
Reissued
3.
‘MOLDASIG’ JSC
Reissued
4.
MIC ‘EXIM-ASIST’ JSC
Reissued
5.
‘MOLDASIG’ JSC
Reissued
6.
IRC ‘MOLDCARGO’ JSC
Reissued
7.
IC ‘KLASSIKA ASIGURARI’
JSC
Reissued
8.
IRB ‘NOVA BROKER’ LLC
Reissued
9.
IB ‘BROKER EXPERT’ LLC
Reissued
10.
IC ‘GALAS’ JSC
Reissued
11.
MEIC ‘GRAWE CARAT’ JSC
Reissued
12.
‘MOLDASIG’ JSC
Reissued
13.
IIC ‘ASITO’ JSC
Reissued
14.
IC ‘KLASSIKA ASIGURARI’
JSC
Reissued
15.
IRC ‘DONARIS GROUP’ JSC
Reissued
16.
MEIIC ‘TRANSELIT’ JSC
Reissued
17.
MEIC ‘GRAWE CARAT’ JSC
Reissued
Granted
29.11.2013
Decision no. 59/7 of
Broker intermediation in insurance and/or reinsurance
14.12.2013
Reissued licensed
Decision no. 1/10 of
General insurance
11.01.2013
Decision no. 1/8 of
Life insurance. General insurance.
11.01.2013
Decision no. 1/9 of
General insurance.
11.01.2013
Decision no. 2/5 of
General insurance
17.01.2013
Decision no. 2/6 of
General insurance
17.01.2013
Decision no. 2/7 of
General insurance
17.01.2013
Decision no. 2/8 of
General insurance
26.01.2013
Decision no. 3/6 of
Broker intermediation in insurance and/or reinsurance
26.01.2013
Decision no. 3/6 of
Broker intermediation in insurance
26.01.2013
Decision no. 4/11 of
General insurance
01.02.2013
Decision no. 4/12 of
Life insurance. General insurance.
01.02.2013
Decision no. 4/13 of
General insurance
01.02.2013
Decision no. 5/2 of
General insurance
08.02.2013
Decision no. 5/3 of
General insurance
08.02.2013
Decision no. 5/4 of
General insurance
08.02.2013
Decision no. 6/2 of
General insurance
14.02.2013
Decision no. 6/3 of
Life insurance
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
14.05.2015
30.04.2013
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
116
18.
MEIC ‘GRAWE CARAT’ JSC
Reissued
19.
IRC ‘MOLDCARGO’ JSC
Reissued
20.
21.
IC ‘KLASSIKA ASIGURARI’
JSC
IC ‘KLASSIKA ASIGURARI’
JSC
Reissued
Reissued
22.
IRC ‘DONARIS GROUP’ JSC
Reissued
23.
IRC ‘MOLDCARGO’ JSC
Reissued
24.
IIC ‘ASITO’ JSC
Reissued
25.
IIC ‘KLASSIKA AIGURARI’
JSC
Reissued
26.
IRB ‘HERMINA’ JSC
Reissued
27.
IRC ‘MOLDCARGO’ JSC
Reissued
28.
MEIIC ‘TRANSELIT’ JSC
Reissued
29.
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
Reissued
30.
IRB ‘AECM ASIGURARI’
LLC
Reissued
31.
IC ‘GALAS’ JSC
Reissued
32.
IRB ‘PARTENER-BROKER’
LLC
Reissued
33.
MEIIC ‘TRANSELIT’ JSC
Reissued
34.
IC ‘ASTERRA GRUP’ JSC
Reissued
35.
‘ONLINE BROKER DE
ASIGURARE’ JSC
Reissued
14.02.2013
Decision no. 7/6 of
22.02.2013
Decision no. 7/7 of
22.02.2013
Decision no. 7/8 of
22.02.2013
Decision no. 9/2 of
07.03.2013
Decision no. 10/7 of
15.03.2013
Decision no. 10/8 of
15.03.2013
Decision no. 12/5 of
22.03.2013
Decision no. 12/6 of
22.03.2013
Decision no. 14/11 of
29.03.2013
Decision no. 14/12 of
29.03.2013
Decision no. 14/13 of
29.03.2013
Decision no. 15/2 of
03.04.2013
Decision no. 17/3 of
11.04.2013
Decision no. 17/4 of
11.04.2013
Decision no. 18/10
of19.04.2013
Decision no. 18/11 of
19.04.2013
Decision no. 18/8 of
19.04.2013
Decision no. 18/9 of
19.04.2013
General insurance
Life insurance
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
Broker intermediation in insurance and/or reinsurance
20.08.2015
General insurance
unlimited
General insurance
unlimited
Life insurance
General insurance
unlimited
Broker intermediation in insurance and/or reinsurance
22.10.2015
General insurance
unlimited
Broker intermediation in insurance and/or reinsurance
22.05.2014
General insurance
unlimited
General insurance
unlimited
Broker intermediation in insurance
22.05.2014
117
36.
‘INSURANCE CONSULTING
Reissued
& SOLUTIONS’ JSC
37.
IC ‘GARANTIE’ JSC
Reissued
38.
MEIC ‘GRAWE CARAT’ JSC
Reissued
39.
IRC ‘MOLDCARGO’ JSC
Reissued
40.
IRB ‘ASTRA’ LLC
Reissued
41.
SCA ‘Valul lui Traian’
Reissued
42.
IRC ‘DONARIS GROUP’ JSC
Reissued
43.
‘ACORD GRUP’ JSC
Reissued
44.
IIC ‘ASITO’ JSC
Reissued
45.
SCA ‘Microimprumut’
Reissued
46.
IRC ‘MOLDCARGO’
Reissued
47.
SCA ‘Antonesti’
Reissued
48.
IRB ‘IRS MANAGEMENET’
LLC
Reissued
49.
IRC ‘DONARIS GROUP’ JSC
Reissued
50.
IRB ‘CAPITAL BROKER’
Reissued
51.
‘BROOKER M-D’ JSC
Reissued
52.
SCA ‘Hrusova’
Reissued
53.
IC ‘GARANTIE’ JSC
Reissued
Decision no. 20/10 of
26.04.2013
Decision no. 20/5 of
26.04.2013
Decision no. 20/6 of
26.04.2013
Decision no. 20/7 of
26.04.2013
Decision no. 20/9 of
26.04.2013
Decision no. 21/2 of
02.05.2013
Decision no. 21/4 of
02.05.2013
Decision no. 21/5 of
02.05.2013
Decision no. 21/6 of
02.05.2013
Decision no. 22/10 of
17.05.2013
Decision no. 22/5 of
17.05.2013
Decision no. 22/9 of
17.05.2013
Decision no. 23/10 of
24.05.2013
Decision no. 23/8 of
24.05.2013
Decision no. 23/9 of
24.05.2013
Decision no. 24/11 of
31.05.2013
Decision no. 24/13 of
31.05.2013
Decision no. 24/5 of
31.05.2013
Broker intermediation in insurance
09.10.2014
General insurance
unlimited
Life insurance
General insurance
unlimited
General insurance
unlimited
Broker intermediation in insurance and/or reinsurance
29.06.2017
Savings and loan associations, A category
unlimited
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
Savings and loan associations, B category
unlimited
General insurance
unlimited
Savings and loan associations, A category
unlimited
Broker intermediation in insurance and/or reinsurance
22.08.2013
General insurance
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
Dealer (basic), broker
04.05.2015
Underwriting and investment consulting (connected)
Savings and loan associations, B category
unlimited
General insurance
unlimited
118
54.
55.
IC ‘KLASSIKA ASIGURARI’
JSC
IC ‘VICTORIA ASIGURARI’
JSC
Reissued
Reissued
56.
SCA ‘Mihaileni’
Reissued
57.
SCA ‘Stefanesti’
Reissued
58.
‘Central Depository’ JSC
Reissued
59.
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
Reissued
60.
IIC ‘ASITO’ JSC
Reissued
61.
IRC ‘DONARIS GROUP’ JSC
Reissued
62.
IRB ‘PARTENER-BROKER’
LLC
Reissued
63.
SCA ‘Onesti - Credit’
Reissued
64.
‘ACORD GRUP’ JSC
Reissued
65.
66.
67.
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
IC ‘KLASSIKA ASIGURARI’
JSC
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
Reissued
Reissued
Reissued
68.
IRB ‘NOVA BROKER’ LLC
Reissued
69.
SCA ‘Holercani’
Reissued
70.
SCA ‘Japca’
Reissued
71.
SCA ‘Pelinia’
Reissued
72.
SCA ‘Radulenii Vechi’
Reissued
Decision no. 24/6 of
31.05.2013
Decision no. 25/10 of
07.06.2013
Decision no. 25/17 of
07.06.2013
Decision no. 25/18 of
07.06.2013
Decision no. 25/2 of
07.06.2013
Decision no. 25/6 of
07.06.2013
Decision no. 25/7 of
07.06.2013
Decision no. 25/8 of
07.06.2013
Decision no. 25/9 of
07.06.2013
Decision no. 26/3 of
13.06.2013
Decision no. 26/7 of
13.06.2013
Decision no. 26/8 of
13.06.2013
Decision no. 26/9 of
13.06.2013
Decision no. 29/14 of
21.06.2013
Decision no. 29/15 of
21.06.2013
Decision no. 29/15 of
21.06.2013
Decision no. 29/6 of
21.06.2013
Decision no. 29/7 of
21.06.2013
Decision no. 29/8 of
General insurance
unlimited
General insurance
unlimited
Savings and loan associations, B category
unlimited
Savings and loan associations, B category
unlimited
Holding the registry (basic), consulting (connected)
27.05.2016
Life insurance
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
Broker intermediation in insurance and/or reinsurance
22.05.2014
Savings and loan associations, A category
unlimited
General insurance
unlimited
Life insurance
General insurance
unlimited
General insurance
unlimited
Life insurance
unlimited
Broker intermediation in insurance and/or reinsurance
14.05.2015
Savings and loan associations, B category
unlimited
Savings and loan associations, A category
unlimited
Savings and loan associations, B category
unlimited
Savings and loan associations, A category
unlimited
119
73.
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
Reissued
74.
IC ‘VICTORIA ASIGURARI’
JSC
Reissued
75.
IRC ‘DONARIS GROUP’ JSC
Reissued
76.
IC ‘ASTERRA GRUP’ JSC
Reissued
77.
IC ‘MOLDOVA-ASTROVAZ’
Reissued
JSC
78.
SCA ‘Rediumarianca’
Reissued
79.
SCA ‘Sculeni’
Reissued
80.
SCA ‘Cajba’
Reissued
81.
IBR ‘TOP BROKER’ LLC
Reissued
82.
IRC ‘MOLDCARGO’ JSC
Reissued
83.
SCA ‘Cobani’
Reissued
84.
SCA ‘Speia’
Reissued
85.
IRC ‘DONARIS GROUP’ JSC
Reissued
86.
‘MOLDASIG’ JSC
Reissued
87.
88.
89.
90.
IC ‘KLASSIKA ASIGURARI’
JSC
IBR ‘CAPITAL BROKER’
LLC
IBR ‘PARTENER-BROKER’
LLC
IBR ‘BIRMAN GRUP’ LLC
Reissued
Reissued
Reissued
Reissued
21.06.2013
Decision no. 30/4 of
28.06.2013
Decision no. 32/5 of
05.07.2013
Decision no. 32/6 of
05.07.2013
Decision no. 33/1 of
16.07.2013
Decision no. 33/2 of
16.07.2013
Decision no. 33/8 of
16.07.2013
Decision no. 34/1 of
19.07.2013
Decision no. 34/2 of
19.07.2013
Decision no. 34/5 of
19.07.2013
Decision no. 35/1 of
26.07.2013
Decision no. 35/11 of
26.07.2013
Decision no. 35/12 of
26.07.2013
Decision no. 35/2 of
26.07.2013
Decision no. 25/3 of
26.07.2013
Decision no. 35/4 of
26.07.2013
Decision no. 35/5 of
26.07.2013
Decision no. 35/6 of
26.07.2013
Decision no. 36/10 of
02.08.2013
Life insurance
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
Savings and loan associations, A category
unlimited
Savings and loan associations, B category
unlimited
Savings and loan associations, A category
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
General insurance
unlimited
Savings and loan associations, A category
unlimited
Savings and loan associations, A category
unlimited
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
Broker intermediation in insurance and/or reinsurance
22.05.2014
Broker intermediation in insurance and/or reinsurance
05.06.2014
120
91.
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
Reissued
92.
IC ‘KLASSIKA ASIGURARI’
JSC
Reissued
93.
IC ‘GARANTIE’ JSC
Reissued
94.
‘ACORD GRUP’ JSC
Reissued
95.
CC ‘AV BROKER DE
ASIGURAREREASIGURARE’ LLC
Reissued
96.
SCA ‘Tatarauca Veche’
Reissued
97.
IRB ‘GAMA PERFECT ASIG’
Reissued
LLC
98.
SCA ‘Cagalnic’
Reissued
99.
SCA ‘Legenda’
Reissued
100.
SCA ‘BRD Finante’
Reissued
101.
IIC ‘ASITO’ JSC
Reissued
102.
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
Reissued
103.
IRC ‘MOLDCARGO’ JSC
Reissued
104.
SCA ‘Filipeni’
Reissued
105.
SCA ‘Suhuluceni-Credit’
Reissued
106.
SCA ‘Victoria-Saratenii Vechi’ Reissued
107.
IC ‘KLASSIKA ASIGURARI’
JSC
Reissued
108.
IRC ‘DONARIS GROUP’ JSC
Reissued
Decision no. 36/5 of
02.08.2013
Decision no. 36/6 of
02.08.2013
Decision no. 36/7 of
02.08.2013
Decision no. 36/8 of
02.08.2013
Decision no. 36/9 of
02.08.2013
Decision no. 38/1 of
08.08.2013
Decision no. 38/10 of
08.08.2013
Decision no. 38/2 of
08.08.2013
Decision no. 38/3 of
08.08.2013
Decision no. 38/4 of
08.08.2013
Decision no. 38/7 of
08.08.2013
Decision no. 38/8 of
08.08.2013
Decision no. 38/9 of
08.08.2013
Decision no. 40/1 of
15.08.2013
Decision no. 40/1 of
15.08.2013
Decision no. 40/3 of
15.08.2013
Decision no. 40/6 of
15.08.2013
Decision no. 40/7 of
15.08.2013
Life insurance
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
General insurance
unlimited
Broker intermediation in insurance and/or reinsurance
10.08.2015
Savings and loan associations, A category
unlimited
Broker intermediation in insurance and/or reinsurance
17.11.2014
Savings and loan associations, A category
unlimited
Savings and loan associations, A category
unlimited
Savings and loan associations, B category
unlimited
General insurance
unlimited
Life insurance
Life insurance
unlimited
General insurance
unlimited
Savings and loan associations, A category
unlimited
Savings and loan associations, A category
unlimited
Savings and loan associations, A category
unlimited
General insurance
unlimited
General insurance
unlimited
121
109.
IB ‘BROKER-EXPERT’ LLC
Reissued
110.
IRB ‘AUTOBIN GRUP’ LLC
Reissued
111.
IRB ‘INVEST-BROKER’ LLC Reissued
112.
SCA ‘Musteata’
Reissued
113.
SCA ‘Falestii Noi’
Reissued
114.
SCA ‘Dusmani’
Reissued
115.
116.
117.
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
FCEIRB ‘AXA BROKER’
LLC
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
Reissued
Reissued
Reissued
118.
IRC ‘DONARIS GROUP’ JSC
Reissued
119.
IRB ‘PARTENER-BROKER’
LLC
Reissued
120.
MEIIC ‘TRANSELIT’ JSC
Reissued
121.
SCA ‘Ochiul Alb’
Reissued
122.
SCA ‘Rural Credit’
Reissued
123.
SCA ‘Gotesti’
Reissued
124.
IRC ‘MOLDCARGO’ JSC
Reissued
125.
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
Reissued
126.
SCA ‘Pitusca’
Reissued
127.
IRC ‘DONARIS GROUP’ JSC
Reissued
Decision no. 41/10 of
23.08.2013
Decision no. 41/11 of
23.08.2013
Decision no. 41/12 of
23.08.2013
Decision no. 41/3 of
23.08.2013
Decision no. 41/4 of
23.08.2013
Decision no. 41/5 of
23.08.2013
Decision no. 41/8 of
23.08.2013
Decision no. 41/9 of
23.08.2013
Decision no. 43/1 of
06.09.2013
Decision no. 43/2 of
06.09.2013
Decision no. 43/3 of
06.09.2013
Decision no. 43/3 of
06.09.2013
Decision no. 43/7 of
06.09.2013
Decision no. 43/8 of
06.09.2013
Decision no. 44/5 of
13.09.2013
Decision no. 44/7 of
13.09.2013
Decision no. 44/8 of
13.09.2013
Decision no. 46/11 of
27.09.2013
Decision no. 46/3 of
Broker intermediation in insurance
unlimited
Broker intermediation in insurance and/or reinsurance
19.03.2014
Broker intermediation in insurance and/or reinsurance
unlimited
Savings and loan associations, A category
unlimited
Savings and loan associations, A category
unlimited
Savings and loan associations, A category
unlimited
Life insurance
General insurance
unlimited
Broker intermediation in insurance and/or reinsurance
20.01.2017
Life insurance
General insurance
unlimited
General insurance
unlimited
Broker intermediation in insurance and/or reinsurance
22.05.2014
General insurance
unlimited
Savings and loan associations, B category
unlimited
Savings and loan associations, B category
unlimited
Savings and loan associations, B category
unlimited
General insurance
unlimited
Life insurance
General insurance
unlimited
Savings and loan associations, B category
unlimited
General insurance
unlimited
122
128.
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
Reissued
129.
‘MOLDASIG’ JSC
Reissued
130.
IRB ‘PRIMGROUP-ASIG’
LLC
Reissued
131.
‘ACORD GRUP’ JSC
Reissued
132.
SCA ‘Burlanesti’
Reissued
133.
SCA ‘Ulmu’
Reissued
134.
IRB ‘ARBORA GRUP’ LLC
Reissued
135.
IB ‘BROKER EXPERT’ JSC
Reissued
136.
IC ‘GALAS’ JSC
Reissued
137.
IC ‘GALAS’ JSC
Reissued
138.
IRC ‘MOLDCARGO’ JSC
Reissued
139.
IRB ‘PARTENER-BROKER’
LLC
Reissued
140.
IC ‘ASTERRA GRUP’ JSC
Reissued
141.
‘ACCORD GRUP’ JSC
Reissued
142.
SCA ‘Vasieni’
Reissued
143.
‘ACORD GRUP’ JSC
Reissued
144.
IC ‘ASTERRA GRUP’ JSC
Reissued
145.
IC ‘KLASSIKA ASIGURARI’
JSC
Reissued
27.09.2013
Decision no. 46/4 of
27.09.2013
Decision no. 46/5 of
27.09.2013
Decision no. 46/6 of
27.09.2013
Decision no. 48/11 of
11.10.2013
Decision no. 48/11 of
11.10.2013
Decision no. 48/21 of
11.10.2013
Decision no. 48/4 of
11.10.2013
Decision no. 48/5 of
11.10.2013
Decision no. 48/6 of
11.10.2013
Decision no. 48/7 of
11.10.2013
Decision no. 48/8 of
11.10.2013
Decision no. 48/9 of
11.10.2013
Decision no. 49/2 of
18.10.2013
Decision no. 49/3 of
18.10.2013
Decision no. 49/7 of
18.10.2013
Decision no. 51/3 of
25.10.2013
Decision no. 51/4 of
25.10.2013
Decision no. 51/5 of
25.10.2013
Life insurance
General insurance
unlimited
General insurance
unlimited
Broker intermediation in insurance and/or reinsurance
unlimited
General insurance
unlimited
Savings and loan associations, A category
unlimited
Savings and loan associations, A category
unlimited
Broker intermediation in insurance and/or reinsurance
Broker intermediation in insurance
General insurance
General insurance
General insurance
Broker intermediation in insurance and/or reinsurance
General insurance
General insurance
Savings and loan associations, A category
General insurance
General insurance
General insurance
unlimited
unlimited
unlimited
unlimited
unlimited
22.05.2014
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
123
146.
MEIIC ‘TRANSELIT’ JSC
Reissued
147.
‘MOLDASIG’ JSC
Reissued
148.
IRC ‘MOLDCARGO’ JSC
Reissued
149.
SCA ‘Cimiseni’
Reissued
150.
SCA ‘Plopi’
Reissued
151.
MIC ‘EXIM-ASIST’ JSC
Reissued
152.
IC ‘GARANTIE’
Reissued
153.
IRB ‘INVEST-BROKER’ LLC
Reissued
154.
SCA ‘Supercredit’
Reissued
155.
IRC ‘MOLDCARGO’ JSC
Reissued
156.
MEIIC ‘TRANSELIT’ JSC
Reissued
157.
‘MOLDASIG’ JSC
Reissued
IC ‘KLASSIKA ASIGURARI’
JSC
IRB ‘PARTENER-BROKER’
JSC
Reissued
160.
‘Registru Grant’ JSC
Reissued
161.
SCA ‘Brinzenii Vechi’
Reissued
162.
SCA ‘Valea Vilcului’
Reissued
163.
IRB ‘AUTORIG-ASIG’ LLC
Reissued
164.
MEIC ‘GRAWE CARAT
Reissued
158.
159.
Reissued
Decision no. 51/6 of
25.10.2013
Decision no. 52/2 of
01.11.2013
Decision no. 52/3 of
01.11.2013
Decision no. 52/7 of
01.11.2013
Decision no. 52/8 of
01.11.2013
Decision no. 54/2 of
08.11.2013
Decision no. 54/6 of
08.11.2013
Decision no. 54/4 of
08.11.2013
Decision no. 54/9 of
08.11.2013
Decision no. 55/1 of
14.11.2013
Decision no. 55/2 of
14.11.2013
Decision no. 56/4 of
25.11.2013
Decision no. 57/10 of
25.11.2013
Decision no. 57/11 of
29.11.2013
Decision no. 57/2 of
29.11.2013
Decision no. 57/4 of
29.11.2013
Decision no. 57/5 of
29.11.2013
Decision no. 57/8 of
29.11.2013
Decision no. 57/9 of
General insurance
General insurance
General insurance
Savings and loan associations, A category
Savings and loan associations, B category
General insurance
General insurance
Broker intermediation in insurance and/or reinsurance
Savings and loan associations, B category
General insurance
General insurance
General insurance
General insurance
Broker intermediation in insurance and/or reinsurance
Holding the registry (basic), consulting (connected)
Savings and loan associations, B category
Savings and loan associations, B category
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
Broker intermediation in insurance and/or reinsurance
11.12.2014
Life insurance
unlimited
124
ASIGURARI’ JSC
165.
‘ACORD GRUP’ JSC
Reissued
166.
IRB ‘BROKERASIG’ LLC
Reissued
167.
IRC ‘DONARIS GROUP’ JSC
Reissued
168.
IC ‘ASTERRA GRUP’ JSC
Reissued
169.
IB ‘BROKER EXPERT’ LLC
Reissued
170.
IRC ‘MOLDCARGO’ JSC
Reissued
171.
IC ‘KLASSIKA ASIGURARI’
JSC
Reissued
172.
SCA ‘Caracui’
Reissued
173.
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
Reissued
174.
IRB ‘INVEST-BROKER’ LLC
Reissued
175.
SCA ‘Microcredit’
Reissued
176.
‘ACORD GRUP’ JSC
Reissued
177.
IRB ‘BROKERASIG’ LLC
Reissued
178.
SCA ‘Prometeu Credit’
Reissued
179.
SCA ‘Soldanesti Credit’
Reissued
180.
IRB ‘AXA BROKER’ LLC
Reissued
181.
MEIC ‘GRAWE CARAT
ASIGURARI’ JSC
Reissued
182.
IRC ‘MOLDCARGO’ JSC
Reissued
29.11.2013
Decision no. 58/10 of
06.12.2013
Decision no. 58/11 of
06.12.2013
Decision no. 58/12 of
06.12.2013
Decision no. 58/13 of
06.12.2013
Decision no. 58/14 of
06.12.2013
Decision no. 58/15 of
06.12.2013
Decision no. 58/16 of
06.12.2013
Decision no. 58/4 of
06.12.2013
Decision no. 59/10 of
14.12.2013
Decision no. 59/11 of
14.12.2013
Decision no. 59/2 of
14.12.2013
Decision no. 59/8 of
14.12.2013
Decision no. 59/9 of
14.12.2013
Decision no. 60/10 of
20.12.2013
Decision no. 60/11 of
20.12.2013
Decision no. 60/2 of
20.12.2013
Decision no. 60/3 of
20.12.2013
Decision no. 60/4 of
20.12.2013
General insurance
General insurance
Broker intermediation in insurance and/or reinsurance
General insurance
General insurance
Broker intermediation in insurance
General insurance
General insurance
Savings and loan associations, A category
Life insurance
General insurance
Broker intermediation in insurance and/or reinsurance
Savings and loan associations, B category
General insurance
Broker intermediation in insurance and/or reinsurance
Savings and loan associations, A category
Savings and loan associations, A category
unlimited
19.02.2015
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
Broker intermediation in insurance and/or reinsurance
20.01.2017
Life insurance
General insurance
unlimited
General insurance
unlimited
125
183.
IRB ‘DESTINE ASIG’ LLC
Reissued
184.
IC ‘VICTORIA ASIGURARI’
JSC
Reissued
Decision no. 61/2 of
27.12.2013
Decision no. 61/3 of
27.12.2013
Broker intermediation in insurance and/or reinsurance
General insurance
unlimited
unlimited
Suspended licenses
1.
SCA ‘Budai’
Suspended
2.
SCA ‘Balauresti’
Suspended
3.
SCA ‘Hiroveanca’
Suspended
SCA ‘Credosucces’
Withdrawn
1.
2.
3.
4.
5.
6.
SCA ‘Lucreafarul97’
SCA ‘Mercurius din
Meleseni’
‘Asigurari Generale
VictoriAsig’ JSC
SCA ‘Hirtopul
Mare’
IRB ‘STARASIG’
LLC
Found invalid
Withdrawn
Withdrawn
Withdrawn
Withdrawn
Decision no.2/1 of
Savings and loan associations, B category
17.01.2013
Decision no. 4/6 of
Savings and loan associations, B category
01.02.2013
Decision no. 58/1 of
Savings and loan associations, A category
06.12.2013
Withdrawn/found invalid licenses
Decision no. 5/7 of
Savings and loan associations, A category
08.02.2013
Decision no. 7/12 of
Savings and loan associations, A category
22.02.2013
Decision no. 7/13 of
Savings and loan associations, A category
22.02.2013
Decision no. 7/9 of
General insurance
22.02.2013
Decision no. 12/11 of
Savings and loan associations, B category
22.03.2013
Decision no. 14/14 of
Broker intermediation in insurance and/or
29.03.2013
reinsurance
Decision no. 18/16 of
Savings and loan associations, A category
19.04.2013
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
26.06.2013
7.
SCA ‘CostangliaCan’
8.
IRB ‘CAPITAL
BROKER’ LLC
Found invalid
Decision no. 18/2 of
19.04.2013
Broker intermediation in insurance and/or
reinsurance
02.03.2017
9.
IRB ‘AMP
BROKER’ LLC
Found invalid
Decision no. 23/7 of
24.05.2013
Broker intermediation in insurance and/or
reinsurance
unlimited
10.
SCA ‘Sinesti’
Withdrawn
Decision no. 24/14 of
Savings and loan associations, A category
unlimited
Withdrawn
unlimited
126
31.05.2013
Decision no. 29/11 of
21.06.2013
Broker intermediation in insurance and/or
reinsurance
07.08.2014
Decision no. 33/3 of
16.07.2013
Broker intermediation in insurance and/or
reinsurance
11.05.2017
Decision no. 33/4 of
16.07.2013
Broker intermediation in insurance and/or
reinsurance
20.08.2015
Decision no. 33/9 of
16.07.2013
Savings and loan associations, A category
Decision no. 35/13 of
26.07.2013
Savings and loan associations, A category
Decision no. 40/4 of
15.08.2013
Savings and loan associations, A category
11.
IRB ‘EXTRA ASIG’
LLC
Withdrawn
12.
MEIRB ‘ASIGARC’
LLC
IRB ‘SEMASIGPRIM’ LLC
Withdrawn
13.
14.
SCA ‘Raciula’
15.
SCA ‘Cazangic’
SCA ‘Chiricaiestii
Noi’
Withdrawn
16.
IRB ‘INTELMODASIG’ LLC
Withdrawn
17.
Decision no. 41/13 of
23.08.2013
Broker intermediation in insurance and/or
reinsurance
19.03.2015
IRB ‘GENERAL
BROKER’ LLC
Withdrawn
18.
Decision no. 45/2 of
20.09.2013
Broker intermediation in insurance and/or
reinsurance
28.01.2015
Withdrawn
19.
SCA ‘Finagrocredit’
Decision no. 46/12 of
27.09.2013
Savings and loan associations, B category
20.
SCA ‘LapusnaCredit’
Withdrawn
Withdrawn
Withdrawn
Withdrawn
Withdrawn
21.
SCA ‘Ivanovca-Fin’
22.
IRB ‘UNIVERSAL
ASIG’ LLC
Found invalid
Decision no. 46/15 of
27.09.2013
unlimited
unlimited
unlimited
unlimited
unlimited
Savings and loan associations, A category
Decision no. 48/22 of
11.10.2013
unlimited
Savings and loan associations, A category
Decision no. 48/3 of
11.10.2013
Broker intermediation in insurance and/or
reinsurance
unlimited
127
SCA ‘AntonestiPrim’
SCA ‘Sipotul
Ghervas’
Withdrawn
SCA ‘Mereni’
Withdrawn
SCA ‘Aluatu
Marioara’
MEIRB
‘OMERLAE
INSURANCE’ LLC
Withdrawn
28.
SCA ‘Velino-Prim’
Withdrawn
29.
MIC ‘EXIM-ASIST’
JSC
Withdrawn
30.
SCA ‘Niorcaceanul’
Withdrawn
31.
SCA ‘Balauresti’
Withdrawn
32.
SCA ‘Budai’
Withdrawn
33.
SCA ‘Ghecrial
Sistem’
Withdrawn
23.
24.
25.
26.
27.
Withdrawn
Withdrawn
Decision no. 51/7 of
25.10.2013
Decision no. 51/8 of
25.10.2013
Decision no. 51/9 of
25.10.2013
Decision no. 52/9 of
01.11.2013
Decision no. 54/5 OF
08.11.2013
Decision no. 56/6 of
25.11.2013
Decision no. 57/12 of
29.11.2013
Decision no. 59/3 of
14.12.2013
Decision no. 59/4 of
14.12.2013
Decision no. 59/4 of
14.12.2013
Decision no. 59/4 of
14.12.2013
Savings and loan associations, A category
Savings and loan associations, A category
Savings and loan associations, B category
Savings and loan associations, A category
Broker intermediation in insurance and/or
reinsurance
Savings and loan associations, A category
General insurance
Savings and loan associations, A category
Savings and loan associations, B category
Savings and loan associations, B category
Savings and loan associations, B category
unlimited
unlimited
unlimited
unlimited
25.05.2017
unlimited
unlimited
unlimited
unlimited
unlimited
unlimited
128
Annex No.4
Authorizations of reorganization issued to the Joint Stock Companies in 2012
№
Name of the issuer
Form of reorganization
Date of
decision
adoption
11.01.2013
1.
JSC ‘DRUMURI-CIMISLIA’
2.
JSC ‘DRUMURI-LEOVA’
3.
JSC ‘DRUMURI-BALTI’
4.
JSC ‘DRUMURI-SINGEREI’
Merger (absorption) of JSC ‘DRUMURI-LEOVA’
and of SE ‘DRUMURI-BASARABEASCA’
Merger (absorption) to JSC ‘DRUMURICIMISLIA’
Merger (absorption) of JSC ‘DRUMURISINGEREI’ and of JSC ‘DRUMURI-FALESTI’
Merger (absorption) to JSC ‘DRUMURI-BALTI’
5.
JSC ‘DRUMURI-FALESTI’
Merger (absorption) to JSC ‘DRUMURI-BALTI’
26.01.2013
6.
JSC ‘PRICHINDEL’
26.01.2013
7.
JSC ‘AZURIT’
Dismemberment (separation) with the transmission
of the patrimony to the new created LLC
‘PUZDERII’
Transformation
8.
JSC ‘ROMANITA’
14.02.2013
9.
JSC ‘BAZA DE TRANSPORT
AUTO NR.31 CHISINAU’
Dismemberment (separation) with the transmission
of the patrimony to the new created LLC ‘FEGRO
PLUS’
Dismemberment (separation) with the transmission
of the patrimony to the new created LLC
‘AUTOHAS PRIM’
Merger (absorption) of JSC ‘DRUMURITELENESTI’ and of JSC ‘DRUMURI-REZINA’
Merger (absorption) to JSC ‘DRUMURI ORHEI’
Merger (absorption) to JSC ‘DRUMURI ORHEI’
01.03.2013
10. JSC ‘DRUMURI ORHEI’
11. JSC ‘DRUMURITELENESTI’
12. JSC ‘DRUMURI-REZINA’
13. JSC ‘DRUMURI IALOVENI’
Merger (absorption) of JSC ‘DRUMURIHINCESTI’ and of JSC ‘DRUMURI NISPORENI’
14. JSC ‘DRUMURI-HINCESTI’
Merger (absorption) to JSC ‘DRUMURI
IALOVENI’
15. JSC ‘DRUMURI NISPORENI’ Merger (absorption) to JSC ‘DRUMURI
IALOVENI’
16. JSC Tipografia
Dismemberment (separation) with the transmission
‘ROTODONOR’
of the patrimony to the new created ME ‘ELITA-5ALTEPI’ LLC
17. JSC ‘TRANSPORT’
Dismemberment (separation) with the transmission
of the patrimony to the new created LLC
‘TELAUTOGAR’
11.01.2013
26.01.2013
26.01.2013
01.02.2013
01.03.2013
01.03.2013
01.03.2013
01.03.2013
01.03.2013
01.03.2013
07.03.2013
15.03.2013
129
18. JSC ‘INTREPRINDEREA DE
COLECTARE A
CEREA;E;PR DIN LIPCANI’
Dismemberment (separation) with the transmission
of the patrimony to the new created FCE
‘EURORPODCOM’ LLC
22.03.2013
19. JSC ‘SEMINTE’
Dismemberment (separation) with the transmission
of the patrimony to the new created LLC
‘COMBISNESS’
Merger (absorption) of JSC ‘DRUMURI-STEFANVODA’ and JSC ‘DRUMURI CAINARI’
Merger (absorption) to JCS ‘DRUMURICAUSENI’
22.03.2013
Merger (absorption) to JSC ‘DRUMURICAUSENI’
Merger (absorption) of JSC ‘DRUMURISOLDANESTI’, JSC ‘DRUMURI-FLORESTI’
and SE ‘DRUMURI-SANATAUCA’
Merger (absorption) to JSC ‘DRUMURISOROCA’
22.03.2013
Merger (absorption) to JSC ‘DRUMURISOROCA’
Merger (absorption) of JSC ‘DRUMURIUNGHENI’ and ‘DRUMURI CALARASI’
Merger (absorption) to JSC ‘DRUMURISTRASENI’
Merger (absorption) to JSC ‘DRUMURISTRASENI’
Merger (absorption) of JSC ‘DRUMURICHISINAU’ and JSC ‘DRUMURI ANENII NOI’
and SE ‘DRUMURI DUBASARI’
Merger (absorption) to JSC ‘DRUMURICRIULENI’
Merger (absorption) to JSC ‘DRUMURICRIULENI’
22.03.2013
Merger (absorption) of JSC ‘DRUMURICANTEMIR’ and JSC ‘DRUMURI-TARACLIA’
Merger (absorption) to JSC ‘DRUMURI CAHUL’
03.04.2013
34. JSC ‘DRUMURI-TARACLIA’
Merger (absorption) to ‘DRUMURI CAHUL’
03.04.2013
35. JSC ‘FABRICA DE
MATERIALE DE
Dismemberment (separation) with the transmission
of the patrimony to the existing LLC ‘DIAZCHIM-
11.04.2013
20. JSC ‘DRUMURI-CAUSENI’
21. JSC ‘DRUMURI-STEFANVODA’
22. JSC ‘DRUMURI CAINARI’
23. JSC ‘DRUMURI-SOROCA’
24. JSC ‘DRUMURISOLDANESTI’
25. JSC ‘DRUMURI-FLORESTI’
26. JSC ‘DRUMURI-STRASENI’
27. JSC ‘DRUMURI-UNGHENI’
28. JSC ‘DRUMURI-CALARASI’
29. JSC ‘DRUMURI-CRIULENI’
30. JSC ‘DRUMURI-CHISINAU’
31. JSC ‘DRUMURI ANENII
NOI’
32. JSC ‘DRUMURI CAHUL’
33. JSC ‘DRUMURICANTEMIR’
22.03.2013
22.03.2013
22.03.2013
22.03.2013
29.03.2013
29.03.2013
29.03.2013
03.04.2013
03.04.2013
03.04.2013
03.04.2013
130
CONSTRUCTII DIN
STRASENI’
AGRO’
36. JSC ‘ANGELICA R’
Transformation
26.04.2013
37. JSC ‘FRAI’
Merger (absorption) by ‘TRANSGAZ’ LLC
17.05.2013
38. JSC ‘ANCO’
Transformation
05.07.2013
39. JSC Farmacia ‘FILOMELA’
Dismemberment (separation) with the transmission
of the patrimony to the new created LLC ‘JUGURT
GG’
Dismemberment (separation) with the transmission
of the patrimony to the new created LLC
‘MOLDPRESA GRUP’
Dismemberment (separation) with the transmission
of the patrimony to the new created LLC ‘N&N
TRADING’
Transformation
18.10.2013
40. JSC ‘MOLDPRESS’
41. JSC ‘CENTRUL 3/TRIPLU’
42. JSC ‘ARUS’
01.11.2013
14.11.2013
27.12.2013
131
Annex No.5
Public offers on the secondary market registered and developed in 2013
No. and date
of NCFM
No. Decision on No. and date of NCFM
registration of Decision on registration
offer
of offer prospectus
prospectus
1.
2.
3.
4.
5.
6.
7.
8.
No. 51/1 of
7.12.2012
No. 52/1 of
14.12.2012
No. 55/2 of
27.12.2012
modified by
Decision no.
6/7 of
14.02.2013
NO. 4/2 OF
01.02.2013
No. 4/3 of
01.02.2013
No. 7/16 of
22.02.2013
No. 12/13 of
22.03.2013
No. 14/7 of
29.03.2013
Data on offer performance
Date of
Date of
announceme expiry of
nt
offer validity
‘Moldprodinvest’ LLC
19.12.2012
17.01.2013
Valeriu Macari
28.12.2013
26.01.2013
GRAZER
WECHSELSEITIGE
VERSICHERUNG
AKTIENGESELLSCHAFT
Name of issuer
‘Intreprinderea
pentru colectarea
cerealelor din RediulMare’ JSC
‘Automobilist-Balti’
JSC
Nominal Propose
value,
price,
MDL
MDL
Date of
transaction
at MSE
No. of shares
traded, units
Share in
total
issuance
%
10
10
18.01.2013
24721
15.06%
1
0.5
30.01.2013
200687
22.46%
1000
1438.75
20.02.2013
81
10.01.2013
19.02.2013
JSC ‘GRAWE
CARAT
ASIGURARI’
13.02.2013
14.03.2013
‘Elevator Kelley
Grains’ JSC
10
10.00
19.03.2013
329630
13.02.2013
14.03.2013
‘Elevator Iargara’
5
5.00
19.03.2013
186877
Iurie Trofim
06.03.2013
04.04.2013
‘Agrovin Bulboaca’
JSC
4
0.50
09.04.2013
4121784
Vozian Vladimir
03.04.2013
03.05.2013
‘Dinecon-11’ JSC
7
7.00
14.05.2013
92180
10.05.2013
Public Alimentation
Enterprise Café
‘Mamaliguta’ JSC
Commercial Company
‘Ceba Grup’ LLC
Commercial Company
‘Ceba Grup’ LLC
Cemortan Valerian
10.04.2013
0.14%
24.44%
23.90%
79.95%
17.12%
0.02%
1
6.50
16.05.2013
281
132
9.
10.
11.
12.
13.
14.
No. 14/6 of
29.03.2013
No. 15/1 of
3.04.2013
No. 17/9 of
11.04.2013
No. 22/6 of
17.05.2013
No. 29/19 of
21.06.2013
No. 33/13 of
16.072013
‘2329083 ONTARIO
INC’
10.04.2013
10.05.2013
JSC ‘Cariera
Micauti’
10
238.64
18.05.2013
3445
Covaliov-Rusu Georgeta
17.04.2013
17.05.2013
JSC ‘Universul’
10
10
22.05.2013
9315
CC ‘Ducates Grup’
24.04.2013
25.05.2013
JSC ‘Carmez’
10
10
04.06.2013
105172
LLC ‘Horn’
12.06.2013
11.07.2013
JSC ‘Combinatul de
articole din carton’
50
25
17.07.2013
161
Eva Brasoveanu
03.07.2013
01.08.2013
JSC ‘Oglindire’
25
64.72
05.08.2013
16711
Commercial Production
Firm ‘VAVELI’ LLC
31.07.2013
29.08.2013
JSC
‘ANGROGOSCOM’
10
53.48
05.09.2013
16711
10
0.5
Purchasing requests have not been
submitted
11
23.09.2013
10
2.5
Purchasing requests have not been
submitted
5
5
11.11.2013
150000
10
10
11.11.2013
652792
20
23.67
04.12.2013
24054
15.
No. 35/9 of
26.07.2013
Vladislav Viscu
07.08.2013
05.09.2013
JSC ‘RTS-Spicusor’
16.
No. 38/13 of
8.08.2013
LLC ‘CFATPO’
21.08.2013
19.09.2013
JSC ‘BRISCCO’
17.
No. 44/2 of
13.09.2013
JSC
‘Moldagroconstructia’
25.09.2013
24.102013
18.
No. 46/7 of
27.09.2013
LLC ‘CEBA GRUP’
09.10.2013
07.11.2013
No. 46/8 of
27.09.2013
No. 48/12 of
20.
11.102013
LLC ‘CEBA GRUP’
09.10.2013
07.11.2013
LLC ‘Victoria’
30.10.2013
28.11.2013
19.
‘Combinatul
materialelor de
constructive din or.
Cahul’ JSC
JSC
‘ELEVATORUL
IARGARA’
JSC ‘ELEVATOR
KELLEY GRAINS’
JSC ‘MOLD-NORD’
35
6800
1.35%
35.02%
4.8%
0.05%
14.21%
1.81%
19.50%
5.03%
12.68%
1.18%
133
Annex No.6
Transactions under public offering prospectuses
No
Date of
transaction
on MSE
1.
18.01.2013
2.
3.
30.01.2013
20.02.2013
4.
5.
6.
7.
8.
19.03.2013
19.03.2013
09.04.2013
14.05.2013
16.05.2013
9.
10.
11.
12.
18.05.2013
22.05.2013
04.06.2013
17.07.2013
13.
14.
15.
16.
05.08.2013
05.09.2013
23.09.2013
11.11.2013
17.
11.11.2013
18.
04.12.2013
Name of issuer
JSC ‘Intreprinderea pentru
colectarea cerealelor din
Rediul-Mare’
JSC ‘Automobilist-Balti’
JSC ‘GRAWE CARAT
ASIGURARI’
JSC ‘Elevator Kelley Grains’
JSC ‘Elevatorul Iargara’
JSC ‘Agrovin Bulboaca’
JSC ‘Dimecon-11’
Public Alimentation Enterprise
‘Mamaliguta’ JSC
JSC ‘Cariera Micauti’
JSC ‘Universul’
JSC ‘Carmez’
JSC ‘Combinatul de articole din
carton’
JSC ‘Oglindire’
JSC ‘ANGROGOSCOM’
JSC ‘BRISCCO’
JSC ‘ELEVATORUL
IARGARA’
JSC ‘ELEVATORU KELLEY
GRAINS’
JSC ‘MOLD-NORD’
No. of
traded
shares,
units
24721
Price, MDL
Nominal
Volume, MDL
value,
MDL
10.0
247210.0
10
200687
81
0.5
1438.75
100343.5
116538.8
1
1000
329630
186877
4121784
92180
281
10.0
5.0
0.5
7.0
6.5
3296300.0
934385.0
2060892.0
645260.0
1826.5
10
5
4
7
1
3445
9315
105172
161
238.64
10.0
10.0
25.0
822117.8
93150.0
1051720.0
4025.0
1
10
10
50
16711
7384
6800
150000
64.72
53.48
11.0
5.0
1081535.9
394896.3
74800.0
750000.0
25
10
35
5
652792
10.0
6527920.0
10
24054
23.67
569358.2
20
134
Annex No. 7
Information on administrative offences detected on the non
banking financial market in 2012
No.
1.
2.
3.
Contravention indicators
The total number of minutes on offense made under
art. 300, paragraph three of the Contravention Code:
breach, non-performance or inadequate or dishonest
performance by the broker of the activity
requirements stipulated in legislation and the contract,
other provisions of the laws and regulations of the
National Commission of Financial Market.
Total number of minutes on the contravention under
art. 302 of the Code of contraventions related to the
abuses on the non-banking financial market
including:
Violation of the provisions of third paragraph (nonsubmission or submission of incomplete or inaccurate
information to the NCFM)
Violation of the provisions of fourth paragraph
(keeping register of nominative securities holders
with violation of set rules and requirements)
Violation of the provisions of fifth paragraph (nonobservance by the issuers and by the professional
participants on the securities market of the forms of
reports set by law and/or non-observance of terms for
their publication in the media)
Violation of the provisions of sixth paragraph (nonobservance by the professional participants on the
non-banking financial market of the requirements on
free access of customers to general available
information about the activities that they perform)
Violation of the provisions of seventh paragraph
(avoidance of issuers from keeping of the register of
holders of nominative securities under the law in
force)
Total number of minutes on contravention under art.
303 of the Code of contraventions on requirements
2011
0
2012
0
2013
9
86
59
76
35
15
22
6
4
12
40
31
36
5
8
6
0
1
0
153
121
134
135
4.
5.
violation for the reports submission by issuers and
professional participant on non-banking financial
market
Total number of minutes on contravention under art.
304 of the Code of contraventions related to violation
of restriction regarding securities market, of
provisions on transactions with conflict of interests,
including:
Violation of the provisions of first paragraph
(violation of requirements on sale or purchase of
securities set for securities market participants)
Violation of the third paragraph (non-submitting of
information by shareholder to the issuer within the
deadlines set by the legislation on securities market)
Violation of the provisions of fourth paragraph
(premeditated distortion and concealment of
information about economic and financial activity of
the joint stock company, of the other information that
creditors, shareholders or public authorities, in
accordance with law, shall receive it)
Violation of the provisions of the fifth paragraph
(non-convocation of the general meeting of
shareholders or its convocation in violation of Law
No.1134-XIII of 02.04.1997 and / or in violation of
company status )
Violation of the provisions of the sixth paragraph
(violation of the manner of major transactions
conclusion and/or transactions with conflict of
interests )
Total number of minutes on contravention under art.
305 of the Code of contraventions related to violation
of the activity requirements in the insurance field
14
12
11
5
0
0
0
1
0
1
1
2
7
10
9
1
0
0
7
12
7
Violation of the provisions of first paragraph 6
(violation by the insurers and intermediaries in
applying the insurance premiums established by
special laws )
12
7
136
6
7.
Violation of the provisions of third paragraph 1
(insurance contracts conclusion in violation the
standard forms of the contracts )
Total number of minutes on contraventions under art. 0
307 of the
Code of Contravention related to
Violations of intermediation rules in insurance and /
or reinsurance (para. 2 - Providing mediation services
by insurance and / or reinsurance brokers through
insurance agents natural or legal person or through
sub-agents)
Total number of minutes on the contravention under 37
art. 310 of the Code of contraventions on legislation
violation on SCA and MO activity
0
0
2
0
38
22
Violation of the provisions of second paragraph 37
(violation of established restrictions in SCA and MO
activity)
297
Total Contraventions
38
22
244
259
137
Annex No.8
Legal and normative acts examined by the NCFM at the request of other public
authorities with issuance of notifications
No. Authority
Examined laws and regulations
1
2
3
Ministry of Justice
National Anticorruption
Centre
Centre of Legal
Approximation
4
Government
5
6
7
State Chancellery
Ministry of Economy
Ministry of Economy
8
Ministry of Economy
9
Ministry of Finance
10
National Centre for Personal
Data Protection
11
Government
12
13
Parliament Office
State Chancellery
14
Ministry of Economy
15
Ministry of Agriculture and
Food
16
Competition Council
17
Competition Council
18
Ministry of Finance
19
National Anticorruption
Centre
20
National Anticorruption
Centre
21
National Anticorruption
Centre
Draft Law on amendments of certain legal acts
Draft Law on amendments of Contravention Cod no. 218XVI of 24.10.2008
Proposals for draft legislative acts included in the NLAP for
2013
Draft Decision ”For approval of draft Law on amendments of
certain legal acts”
Draft Law on amendments of certain legal acts
Draft Law on amendments of certain legal acts
Draft Law on amendments of certain legal acts
Draft Decision ”For approval of draft Law on amendments of
certain Government decisions”
Draft Order "On amending the Regulation on certification of
internal auditors in the public sector"
Draft of the Strategy for development in the field of
protection of personal data for the years 2013 - 2018
Decision no.222 of 03.26.13 "On approval of the draft law
amending Law no. 122-XVI of 05.04.13 "
Draft Law on national insurance guarantee fund
Draft Law on national insurance guarantee fund
Draft Government Decision "On approval of the draft law
amending Law no. 451 - XV from 30.07.2001 "
Draft Government Decision "On amending Annex 1 to the
Government Decision no. 1005 of 26.10.2010 "
Draft decision "On the adoption of normative acts necessary
for the implementation of the Law on State Aid"
Draft Law on amendments of certain legal acts
Draft Government Decision "On approval of the draft law
amending the Accounting Law no. 113-XVI from 27.04.2007
Draft Order approving the "Guidelines on the precautionary
measures and model-type decisions to stop the suspicious
activities or transactions, including how to implement
international sanctions regime, which is under Law 190 XVI from 26.07.2007"
Draft Order approving the "Guidelines for identification of
politically exposed persons, family members and associated
persons and natural persons exercising public functions
important at national and international level covered by Law
no. 190 - XVI from 26.07.2007 "
Draft Order approving the draft "Guidelines for identification
of risk indicators based on suspicious activities or
transactions / unusual terrorist financing, which are under
138
22
Ministry of Economy
23
Ministry of Finance
24
National Bank of Moldova
25
Government
26
Ministry of Finance
27
Ministry of Economy
28
Ministry of Economy
29
Ministry of Finance
30
Ministry of Finance
32
Centre of Legal
Approximation
General Prosecutor
33
National Bank of Moldova
34
Government
35
Government
36
Government
37
National Bank of Moldova
38
National Statistics Bureau
39
Ministry of Economy
40
Ministry of Economy
41
State Chancellery
31
43
Centre of Legal
Approximation
Ministry of Economy
44
Competition Council
42
Law no. 190-XVI "from 26.07.2007"
Draft Government Decision "On approval of the draft Law
concerning the distance marketing of consumer financial
services and the draft law on amending certain acts"
Draft Law on amendments of certain legal acts
Draft Decision "On approval of the Regulation on the
calculation of voting rights and registration of the transfer of
ownership of bank shares"
Draft Government Decision "On the transmission of material
goods”
Draft Government Decision "On approval of the development
of public internal financial control"
Draft Government Decision "On the granting of the name as
industrial park "Raut"
Draft Government Decision "On amending Annex 1 to the
Government Decision 482 of 29.03.12"
Draft of the Ministry of Finance Order "On amending the
Regulation on reporting of internal audit activity"
Draft Law on Financial Institutions no. 550- XII of
21.07.1995
Draft on National Plan for Legal Approximation for 2014
Draft Law on amendments of penal legislation
Draft Government decision "On amending Instruction on
peculiarities issues of shares and bonds to banks and how to
be authorized by the NBM"
Draft Code of Administrative Procedure
Draft Government Decision "On approval of the draft law on
the National Committee for Financial Stability"
Draft Government Decision "On Approval Roadmap for
Government action to eliminate critical constraints in the
business environment for the years 2013-2014"
Draft decision "On amending the Regulation on Entry
System of Securities"
Draft decision "On the approval of the statistical work in
2014"
Draft on Roadmap for improving the competitiveness of
Moldova
Draft Law amending the Law on JSC no. 1134-XIII of
02.04.1997
Draft Law declaring null the additional emission of shares of
the JSC Banca de Economii
Legislative and normative draft acts included in the NLAP
2014
Draft of Protocol of Session 4 of the Intergovernmental Panel
Draft Decision "On approval of regulations regarding State
aid
139
45
National Bank of Moldova
46
Ministry of Finance
47
Ministry of Economy
48
National Anticorruption
Centre
49
National Bank of Moldova
50
Ministry of Justice
51
Ministry of Finance
52
Government
53
National Bank of Moldova
54
Government
55
State Chancellery
56
Government
57
Ministry of Economy
Proposals to the draft Law on amending Law no. 62 - XVI of
21.03.08.
Draft Government Decision "On approval of the draft law
amending the Law on the Capital Market."
Draft Government Decision "On the delegation of
management functions of state property to central public
administration authorities"
Draft amending orders in order to implement the provisions
of Law no. 190 - XVI from 26.07.2007
Draft decision "On amending the Regulation on Entry
System of Securities"
Draft Law on amendments of certain legal acts
Draft Order "On approval of amendments to the Order no. 63
of 10.08.2009
Draft Law on amendments of certain legal acts
Draft decision "On amending Instruction on peculiarities
issues of shares and bonds to banks and how to be authorized
by the NBM"
Draft Decision approving Regulation on public capital
investment
Draft Law on amendments of certain legal acts
Draft Decision ”For approval of draft Law on amendments of
certain legal acts”
Draft Law on amendments of certain legal acts
140
Annex no.9
List of the Joint Stock Companies which issued incorporation shares in 2013
№
Name of the issuer
1
JSC „LEAL-COM”
2
Amount of
issuance,
MDL
Number of
shares, units
Nominal
value,
MDL
Date of
Decision
adoption
205400
2054
100
08.02.2013
JSC „IMEDICA”
20000
2000
10
01.03.2013
3
JSC „BROKING-VM”
20000
200
100
26.04.2013
4
JSC “SFATUL CODRENILOR”
23100
231
100
26.04.2013
5
JSC “MOL DEVELOPMENT”
20000
2000
10
28.06.2013
6
JSC “CENTRUL DE CULTURĂ
ŞI ARTĂ LUCEAFĂRUL”
50000
1000
50
05.07.2013
7
JSC “AQUA TELECOM”
20000
20000
1
27.12.2013
TOTAL
358500
141
Annex No.10
List of the Joint Stock Companies which have performed issuances in 2013
№
Name of the issuer
1
20
JSC “DRUMURI-CIMIŞLIA”
Insurance company
„ASTERRA GRUP” JSC
JSC „DRUMURI-BĂLŢI”
Întreprinderea alimentației
publice Cafenea
„VISTERNICENI” JSC
CB „EXIMBANK-Gruppo
Veneto Banca” JSC
JSC „STICLĂMONT”
Întreprinderea Turcească
”FETIH” JSC
JSC „ZORILE”
JSC „DACIA-LV”
JSC “DRUMURI IALOVENI”
JSC “DRUMURI ORHEI”
JSC „ELAT-INVEST”
JSC „DRUMURI-CĂUŞENI”
JSC „DRUMURI-SOROCA”
Complexul hotelier
“PALACE” JSC
JSC “DRUMURI-STRĂŞENI”
JSC “DRUMURI-CRIULENI”
JSC “DRUMURI CAHUL”
JSC “AGENŢIA DE
ADMINISTRARE ŞI
SECURITATE
ECONOMICĂ”
JSC „ZORILE”
21
JSC „AVIATEHNOLOGIE”
22
23
24
JSC „ROMANIŢA”*
JSC „BROKING-VM”
JSC „RADIATOR”
Insurance company
„ASTERRA GRUP” JSC
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
25
Amount of
issuance,
MDL
account
capital
additional
account
capital
8116820
Number
of
shares,
units
VN,
MDL
811682
10
11.01.2013
1000000
1000000
1
11.01.2013
10430220
1043022
10
26.01.2013
50000
2500
20
26.01.2013
365000000
365000
1000
14.02.2013
1378986
98499
14
14.02.2013
120000
12000
10
14.02.2013
26962272
795000
18248640
22214430
4530000
10255310
19449950
1497904
53000
1824864
2221443
453000
1025531
1944995
18
15
10
10
10
10
10
22.02.2013
01.03.2013
01.03.2013
01.03.2013
22.03.2013
22.03.2013
22.03.2013
994000
99400
10
29.03.2013
22118380
27248850
10709800
2211838
2724885
1070980
10
10
10
29.03.2013
03.04.2013
03.04.2013
5010000
5010000
1
19.04.2013
33385716
18
26.04.2013
1
17.05.2013
12663
500000
671536
1854762
2450000
0
12663
5000
14288
2
100
47
17.05.2013
24.05.2013
31.05.2013
6500000
6500000
1
31.05.2013
24500000
Date of
Decision
adoption
142
26
27
28
29
JSC „TEZEU-LUX”
JSC “CIOCANA”
JSC “MOBILCOMSERVICE”
JSC „CENTRO BASSO
PREZZO”
30
CB „ProCredit Bank” JSC
31
JSC “DACIA-LV”
JSC “COMBINATUL AUTO
NR.5”
JSC “DRUMURI-CIMIŞLIA”
JSC “AGENŢIA DE
ADMINISTRARE ŞI
SECURITATE
ECONOMICĂ”
JSC “PASC-CON”
JSC “AUGUR-PERLA”*
JSC “ELEVATOR KELLEY
GRAINS”
JSC „ELEVATORUL
IARGARA”
JSC „SICOM”
JSC „DRUMURI-RÎȘCANI”
JSC „VELTIM”
JSC “ZIMBRU-NORD”
CB „BANCA DE
ECONOMII” JSC
JSC „UNIVERSAL”
JSC „AGROVIN
BULBOACA”
JSC „MILEŞTI-VIN”
JSC „PROMSTROI-GRUP”
JSC „DRUMURI-EDINEŢ”
JSC „AVICOLA DIN
BĂNEŞTI”
JSC „EXTRA-K”
JSC „ART-NIC”
JSC „SCOP”
CB „UNIBANK” JSC
JSC „DRUMURI-CIMIȘLIA”
Întreprinderea alimentației
publice Cafenea
„VISTERNICENI” JSC
JSC „DRUMURI IALOVENI”
JSC “DRUMURI ORHEI”
JSC “DRUMURI-CĂUŞENI”
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
671140
150000
10000
67114
30000
10000
10
5
1
07.06.2013
13.06.2013
13.06.2013
100000
10000
10
21.06.2013
23500000
23500
1000
21.06.2013
810000
54000
15
28.06.2013
1124800
14800
76
16.07.2013
1371670
137167
10
16.07.2013
12800000
1280000
0
1
26.07.2013
10000
16744000
10000
26000
1
654
26.07.2013
26.07.2013
38000000
3800000
10
08.08.2013
11000000
2200000
5
08.08.2013
10000
1724470
10000
1267425
1
10
10
15
08.08.2013
23.08.2013
23.08.2013
23.08.2013
5
04.09.2013
2100000
10000
172447
1000
84495
1604994
0
2100000
1
06.09.2013
885456
221364
4
06.09.2013
702020
2500000
2782870
70202
250000
278287
10
10
10
06.09.2013
06.09.2013
11.10.2013
5796930
579693
10
11.10.2013
10000
10000
225000
100000000
1974460
10000
10000
45000
500000
197446
1
1
5
200
10
08.11.2013
29.11.2013
29.11.2013
06.12.2013
06.12.2013
200000
10000
20
06.12.2013
2216420
2958990
3322380
221642
295899
332238
10
10
10
14.12.2013
20.12.2013
20.12.2013
80249700
143
59
60
61
62
JSC “DRUMURI-SOROCA”
JSC “DRUMURI-CRIULENI”
JSC „PAJURA ALBĂ
MEDIA”
Insurance company
„KLASSIKA ASIGURĂRI”
JSC
3499480
3789250
349948
378925
10
10
20.12.2013
20.12.2013
4655600
23278
200
27.12.2013
2315000
2315
1000
27.12.2013
TOTAL
949699634
TOTAL
(including additional capital)
949699634
* increasing the
nominal value of ordinary shares
144
Annex No. 11
List of Joint Stock Companies which have registered changes
in the Securities State Register from 01.01.13 to 31.12.2013
I. Change of Share Capital
№
Name of the issuer
1
JSC „CIOCANA”
2
JSC „PRICHINDEL”
3
JSC „TRANSPORT”
4
JSC „BAZA DE
TRANSPORT AUTO
NR.31 CHIŞINĂU”
5
JSC „SEMINŢE”
6
JSC „MONTTEHSAN”
7
JSC „ROMANIŢA”
8
JSC „ROMANIŢA”
9
Insurance – reinsurance
company „DONARIS
GROUP” JSC
10
JSC „FABRICA DE
CONSERVE DIN
GLODENI”
11
JSC „AUGUR-PERLA”
The reason for share capital change
Reduction of the statutory capital
through cancellation of 65008 treasury
shares
Reduction of the statutory capital
through cancellation of 263 treasury
shares
Reduction of the statutory capital
through cancellation of 28516 treasury
shares
Reduction of the statutory capital
through cancellation of 31000 treasury
shares
Reduction of the statutory capital with
92465 MDL through cancellation 18493
treasury shares
Reduction of the statutory capital with
4899120 MDL through cancellation
163304 treasury shares
Reduction of the statutory capital with
105036 MDL through cancellation
105036 treasury shares
Restructuring previous issuance through
increasing of nominal value of ordinary
shares from 1 MDL to 2 MDL
Reduction of the statutory capital
through the reduction of nominal value
of ordinary shares from 70 MDL in 27
MDL
Reduction of the statutory capital with
10260660 MDL through the reduction
of nominal value of ordinary shares
from 10 MDL in 5 MDL
Increasing of the statutory capital
through increasing of nominal value of
ordinary shares from 10 MDL to 654
Share
capital,
MDL
Date of
decision
adoption
22640
01.02.2013
301100
22.03.2013
67590
19.04.2013
2457770
02.05.2013
48520
17.05.2013
1133040
17.05.2013
12663
17.05.2013
25326
17.05.2013
15096510
13.06.2013
10260660
05.07.2013
17004000
26.07.2013
145
MDL
12
13
JSC „ÎNTREPRINDEREA
Reduction of the statutory capital with
DE COLECTARE A
11747390 MDL through cancellation
CEREALELOR DIN
1174739 treasury shares
LIPCANI”
Reduction of the statutory capital with
FARMACIA
27040 MDL through cancellation 2704
„FILOMELA” JSC
treasury shares
67340
08.11.2013
275010
14.12.2013
II. Excluding securities from the State Register of Securities
Company Liquidation
Date of
decision
adoption
26.01.2013
Transformation
01.02.2013
JSC „BUDJAC GAZ”
Company Liquidation
01.02.2013
4
JSC „FABRICA DE BRÎNZETURI DIN LEOVA”
Company Liquidation
01.02.2013
5
JSC „BAŞTINA”
Company Liquidation
01.02.2013
6
JSC „AVÎNTUL”
Company Liquidation
01.02.2013
7
JSC „AGROPROFIL”
Company Liquidation
01.02.2013
8
JSC „MECANIZATORUL”
Company Liquidation
01.02.2013
9
JSC „CONSTRUCTORUL”
Company Liquidation
01.02.2013
10
JSC „CONTACT-SERVICE”
Company Liquidation
01.02.2013
11
JSC „HOLEMUS”
Company Liquidation
01.02.2013
12
JSC „MONOLIT-VĂLCINEŢ”
Company Liquidation
01.02.2013
13
JSC “DRUMURI-LEOVA”
Company Merger
14.02.2013
14
JSC „FERMENTTUTUN”
Company Merger
01.03.2013
15
JSC “DRUMURI-OCNIŢA”
Company Merger
01.03.2013
16
JSC „DRUMURI-DONDUŞENI”
Company Merger
22.03.2013
17
JSC “DRUMURI-REZINA”
Company Merger
02.05.2013
18
JSC „DRUMURI-TELENEŞTI”
Company Merger
02.05.2013
19
JSC “DRUMURI-ŞTEFAN-VODĂ”
Company Merger
17.05.2013
20
JSC „DRUMURI NISPORENI”
Company Merger
17.05.2013
21
JSC „DRUMURI-HÎNCEŞTI”
Company Merger
24.05.2013
22
JSC “DRUMURI-CANTEMIR”
Company Merger
24.05.2013
23
JSC „DRUMURI-TARACLIA”
Company Merger
24.05.2013
№
Name of the issuer
1
JSC “TRANSPROIECT”
2
JSC „INVENTIV-TELECOMUNICAŢII”
3
The reason of securities
exclusion
146
24
JSC „DRUMURI-CHIŞINĂU”
Company Merger
13.06.2013
25
JSC „DRUMURI-ŞOLDĂNEŞTI”
Company Merger
28.06.2013
26
JSC „DRUMURI-FLOREŞTI”
Company Merger
28.06.2013
27
JSC „DRUMURI-CĂLĂRAŞI”
Company Merger
16.07.2013
28
JSC „DRUMURI-CĂINARI”
Company Merger
08.08.2013
29
JSC “DRUMURI-DROCHIA”
Company Merger
11.10.2013
30
JSC “DRUMURI-GLODENI”
Company Merger
11.10.2013
31
JSC “DRUMURI ANENII NOI”
Company Merger
11.10.2013
32
JSC “I.T.A.S.”
Company Liquidation
11.10.2013
33
JSC “COMBINATUL DE PANIFICAŢIE”
Company Liquidation
11.10.2013
34
JSC “MĂRFURI PENTRU COPII”
Company Liquidation
08.11.2013
35
JSC „BTA-7 IALOVENI”
Company Liquidation
08.11.2013
36
JSC “FRAI”
Company Merger
08.11.2013
37
JSC “PANSELUŢE”
Company Liquidation
20.12.2013
147
Annex No. 12
Transactions with securities of the Companies included in the list of the Stock Exchange of Moldova in 2013
Name of the issuer
ISIN code
Number of
transactioned
shares, units
Amount of
the
transaction,
MDL
Price of one
share, MDL
min.
max.
Average
price of Nominal
one
value,
share,
MDL
MDL
Weight of one
transactioned
share in the
Number of
amount of the transaction Listing level
issued
s, units
securities,
percent
Transactions made through the interactive market mechanism
"MOLDOVAMD14AGIB1008
AGROINDBANK" JSC
"BANCA DE ECONOMII"
MD14BECM1002
JSC
"BANCA SOCIALĂ" JSC
MD14BSOC1004
"MOLDINDCONBANK"
MD14MICB1008
JSC
"MOBIASBANCA-Groupe
MD14MBIS1000
Societe Generale" JSC
"VICTORIABANK" JSC MD14VCTB1004
"BANCA DE ECONOMII"
MD24BECM1000
JSC
TOTAL
353126
363234559.81 1000.00
1100.00
1028.63
200.00
34.03
77
I
4872407
68125553.90
13.87
40.00
13.98
5.00
12.35
24
I
429126
100088370.42
160.00
250.00
233.24
100.00
42.91
65
I
12614
1046785.00
70.00
104.00
82.99
100.00
0.25
33
I
4792
146660.00
30.00
100.00
30.61
10.00
0.05
7
I
7368447
135576787.58
15.90
35.00
18.40
10.00
29.47
30
I
920
929.20
1.01
1.01
1.01
1.00
0.30
1
I
13041432
668219645.91
237
Transactions within outcry auctions of single-batces
"MOLDOVAAGROINDBANK" JSC
MD14AGIB1008
322
"BANCA SOCIALĂ" JSC
MD14BSOC1004
204
27103.44
"FLOAREA-SOARELUI"
JSC
MD14FLAU1001
7500
"VICTORIABANK" JSC
MD14VCTB1004
MD14MICB1008
"MOLDINDCONBANK"
JSC
TOTAL
TOTAL
341320.00 1060.00
1060.00
1060.00
200.00
0.03
1
I
132.86
132.86
132.86
100.00
0.02
1
I
375000.00
50.00
50.00
50.00
20.00
1.01
2
II
3095
83565.00
27.00
27.00
27.00
10.00
0.01
1
I
123
10455.00
85.00
85.00
85.00
100.00
0.00
1
I
11,244
837,443.44
13052676
669057089.35
6
243
148
Annex No.13
Free float factor for issuers included in the listing MSE 31.12.2013
No
Name of issuer
1.
Listing (Level I)
BC "MOLDOVA - AGROINDBANK" S.A.
2.
S.A."BANCA DE ECONOMII"
3.
4.
5.
6.
7.
8.
BC "BANCA SOCIALĂ" S.A.
BC"MOBIASBANCA - GROUPE SOCIETE GENERALE" S.A.
BC "MOLDINDCONBANK" S.A.
BC "UNIBANK" S.A.
BC "VICTORIABANK" S.A.
IM "EFES VITANTA MOLDOVA BREWERY" S.A.
Listing (Level II)
S.A."IPTEH"
9.
ISIN code
MD14AGIB1008
MD14BECM1002
MD24BECM1000
MD14BSOC1004
MD14MBIS1000
MD14MICB1008
MD14UNIB1005
MD14VCTB1004
MD14VEST1003
MD14IPTE1003
Total securities
issued in the same
class
Treasury securities,
concentrated in the
hands of a shareholder
or group of shareholders
*
Securities
outstanding
free
Coefficient
"free float" at
the end of 2012
unităţi
1 037 634
39 456 704
302 980
1 000 067
10 000 000
4 967 794
1 410 000
25 000 091
1 599 922
%
100
100
100
100
100
100
100
100
100
unităţi
64 267
26 503 029
37 552
0
9 669 154
23 137
0
9 502 423
1 549 170
%
6,19
67,17
12,39
0
96,69
0,47
0
38,01
96,83
unităţi
973 367
12 953 675
265 428
1 000 067
325 240
4 944 657
1 410 000
15 497 668
50 752
%
93,81
32,83
87,61
100,00
3,25
99,53
100,00
61,99
3,17
1 250 663
100
1 208 739
96,65
41 924
3,35
* - Shares of state-owned strategic investors, shareholders (who hold at least 5% of the capital), excluding collective investment institutions (insurance
companies, pension funds, investment funds, fund manager etc.)
149
Annex No.14
List of Joint Stock Companies registered issues with foreign capital participation from
01.01.2013 to 31.12.201
№
Date of
decision
adoption
1
14/02
2
14/02
3
22/02
JSC „ZORILE”
4
01/03
5
Name of the issuer
CB „EXIMBANK –
Gruppo Veneto Banca” JSC
Întreprinderea turcească
„FETIH” JSC
Amount of
the emission,
MDL
capital
account
account
additional
capital
Statutory
capital,
MDL
Amount of
foreign
investments
, MDL
365000000
1000000000
365000000
120000
130000
120000
26962272
66497562
22279734
JSC „IMEDICA”
20000
20000
15000
01/03
JSC „DACIA-LV”
795000
4643805
795000
6
26/04
JSC „ZORILE”
33385716
99883278
27583524
7
21/06
CB „ProCredit Bank” JSC
23500000
388850000
23500000
8
28/06
JSC „MOL
DEVELOPMENT”
20000
20000
20000
9
28/06
JSC „DACIA-LV”
810000
5453805
810000
10
06/09
JSC „MILEŞTI-VIN”
702020
5468810
702020
11
06/12
CB „UNIBANK” JSC
100000000
282000000
44190000
12
27/12
JSC „PAJURA ALBĂ
MEDIA”
4655600
4675600
4609000
TOTAL
555970608
489624278
150
Annex No.15
Purchases and sales of securities made by foreign investors depending on the home country in 2012-2013
2012
Purchases
2013
Sales
Purchases
Sales
Volume,
million
MDL
Share in
the total
volume,
%
194.5
40.4
97.3
Ucraina
2.7
6.9
Liechtenstein
2.6
3.8
Altele
Total
Volume,
million
MDL
Share in
the total
volume, %
106.3
52.5
26.3
13.0
Grecia
26.1
12.9
Cipru
16.6
8.2
Georgia
10.6
5.2
Cehia
Insulele
Virgine
Britanice
România
6.9
Country
Marea
Britanie
Federaţia
Rusă
Volume,
million
MDL
Share in the
total
volume, %
Volume,
million
MDL
Share in
the total
volume, %
231.1
45.0
Marea
Britanie
188.5
36.7
227.8
44.3
20.2
Olanda
123.5
24.0
16.4
3.2
52.5
10.9
Cipru
67.98
13.2
13.7
Letonia
51.6
10.7
Letonia
49.9
9.7
Liberia
1.3
Cipru
43.7
9.1
36.9
7.2
6.4
1.2
24.8
5.2
19.0
3.7
Panama
5.4
1.1
11.3
2.3
Germania
11.4
2.2
1.9
SUA
4.4
0.9
Olanda
Insulele
Virgine
Britanice
Bulgaria
Federaţia
Rusă
Dominica
3.4
5.3
3.1
0.6
Liechtenstein
7.5
1.5
0.7
0.3
Altele
1.4
0.3
Altele
2.7
0.6
Altele
9.5
1.8
202.6
100
Total
513.5
100
Total
481.5
100
Total
514.2
100
Country
Austria
Federaţia
Rusă
Marea
Britanie
Insulele
Virgine
Britanice
Country
Marea
Britanie
Federaţia
Rusă
Country
151
Annex No.16
List of Joint Stock Companies which submitted the annual financial report on securities for 2013
Joint Stock Companies which practice banking and credit activity
№
Name of the joint stock
company
Legal address
ISIN
Share capital
Number of
shareholde
rs
Dividends
Financial
calculated
assets
and directed
to be paid in available for
2013 for
trade
2012
Total capital
shareholder
Net profit
MDL
Instituţii financiar-bancare
1
2
3
4
5
6
7
8
9
10
11
CB EXIMBANK-GRUPPO
VENETO BANCA JSC
CB ENERGBANK JSC
CB BANCA DE FINANTE SI
COMERT JSC
CB PROCREDIT BANK JSC
CB VICTORIABANK JSC
CB BANCA COMERCIALA
ROMINA JSC
CB EUROCREDITBANK JSC
CB MOLDOVA
AGROINDBANK JSC
CB UNIBANK JSC
CB COMERTBANK JSC
CB BANCA SOCIALA JSC
12
CB MOBIASBANCĂ-GROUPE
SOCIETE GENERALE JSC
13
CB MOLDINDCONBANK
Chisinau municipality,
Stefan cel Mare boulevard, 171/1
Chisinau municipality,
Vasile Alecsandri street, 78
Chisinau municipality,
Puskin street, 26
Chisinau municipality,
Stefan cel Mare boulevard, 65
Chisinau municipality,
31august 1989 street, 141
Chisinau municipality,
Tricolorului street, 32
Chisinau municipality,
Izmail street, 33
Chisinau municipality,
Cosmonautilor street, 9
Chisinau municipality,
M. Banulescu-Bodoni street, 45
Chisinau municipality,
Independentei street, 1/1
Chisinau municipality,
M. Banulescu-Bodoni street, 61
Chisinau municipality,
Stefan cel Mare boulevard, 65
Chisinau municipality,
MD14EXIM1000
635 000 000
1
0
3 587 760
904 943 112
-133 844 917
MD14ENER1001
100 000 000
46
0
3 336 745
363 807 191
25 388 830
MD14BFCM1001
131 544 200
138
0
7 149 372
369 816 171
14 323 279
MD14PROB1000
365 350 000
3
0
1 200 000
304 408 386
2 751 588
MD14VCTB1004
250 000 910
229
0
61 419 250
MD14BROM1003
627 580 000
1
0
1 018 650
MD14EURB1005
108 000 000
116
0
MD14AGIB1008
207 526 800
3 224
114 857 306
211 397 736
MD14UNIB1005
182 000 000
18
0
319 500
334 805 489
22 271 919
MD14BANK1005
147 000 000
7
0
100 000
249 342 749
3 612 315
MD14BSOC1004
100 006 700
409
0
12 763 375
665 506 551
60 018 341
MD14MBIS1000
100 000 000
154
0
1 479 292
845 087 220
52 818 147
MD14MICB1008
496 779 400
921
0
26 485 278
1 270 855
1 470 798 291 225 147 192
279 636 866
51 514
195 444 776
5 284 123
2 161 604 789 303 383 747
1 022 922 736 172 190 932
152
14
JSC
Armeneasca street, 38
MD24MICB2004
CB BANCA DE ECONOMII
JSC
Chisinau municipality,
Columna street, 15
MD14BECM1002
0
117 336 800
0
2 529
9 341 808
853 748 383
16 640 778
0
9 358 120
MD24BECM1000
Other Joint Stock Companies which practice credit activity
1
CORPORATIA DE
FINANTARE RURALA JSC
Chisinau municipality,
Ion Creanga street, 10/5
MD14RURA1001
5 223 675
MD24RURA1009
297
1 106 025
23
239 873
Joint Stock companies which practice insurance activity
№
Name of the joint stock
company
1
ASITO JSC
2
KLASSIKA ASIGURĂRI
JSC
3
DONARIS GROUP JSC
4
GARANȚIE JSC
5
GRAWE CARAT
ASIGURĂRI JSC
6
AUTO-SIGURANTA JSC
7
GALAS JSC
8
EXIM-ASINT JSC
9
ACORD-GRUP JSC
10
ASTERRA GRUP JSC
11
MOLDASIG JSC
12
MOLDCARGO JSC
13
MOLDOVA-ASTROVAZ
JSC
Legal address
Chisinau municipality,
Banulescu-Bodoni street, 57/1
Chisinau municipality,
Tighina street, 12
Chisinau municipality,
31 August 1989 street, 108/1
Chisinau municipality,
Puskin street, 47/1, of. 3
Chisinau municipality,
Alexandru cel Bun street, 51
Chisinau municipality,
S. Lazo street, 21
Chisinau municipality,
Diordita Alexandru street, 2
Chisinau municipality,
Kogalniceanu street, 29
Chisinau municipality,
Sciusev street, 29
Chisinau munipality,
O. Goga street, 26, of. 1
Chisinau municipality,
Eminescu street, 2
Chisinau municipality,
V. Alecsandri street, 97
Chisinau municipality,
Sciusev street, 42
Nominal
value
MDL
Share
capital
Number of
shareholders
Dividends
calculated
and
directed to
be paid in
2013 for
2012
Total capital
shareholder
ISIN
Number
of
securities
MD14OTIS1008
4 651 534
10
46 515 340
1 320
0
402 483 705
14 583 954
MD14SIKA1003
19 336
1 000
19 336 000
1
0
20 664 962
-635 056
MD14DORG1009
559 130
70
39 139 100
7
0
20 389 299
10 502 000
MD14GANE1008
15 300
1 000
15 300 000
1
0
13 855 684
2 034 322
MD14GRAW1002
57 378
1 000
57 378 000
79
0
87 774 241
12 557 766
MD14OTUA1002
179 647
100
17 964 700
13
0
20 391 725
1 676 913
MD14GASA1007
66 372
226
15 000 072
2
0
9 112 735
-3 708 664
MD14EXAN1007
150 000
100
15 000 000
4
0
15 021 023
-926 206
MD14IDEA1008
200 000
75
15 000 000
2
0
18 125 109
1 861 692
15 008 888
1
15 008 888
3
0
11 756 964
18 217
600 000
100
60 000 000
8
0
325 259 580
17 082 505
100
300 000
30 000 000
100
0
47 131 780
5 235 858
210
100000
21000000
1
0
29 724 566
-2 152 017
MD14ASTE1008
MD14BELR1006
MD14ARGO1006
MD14OVAZ1003
Net profit
MDL
153
14
SIGUR-ASIGUR JSC
15
TRANSELIT JSC
16
VICTORIA-ASIGURĂRI
JSC
Chisinau municipality,
Kogalniceanu street, 73/2
Edinet city,
Independentei street, 99
Chisinau municipality,
Romana street, 8
MD14SGUR1004
MD14SELI1008
MD14ASIG1009
67 400 000
1
67 400 000
3
0
195 319 226
-23 375 384
15 000
1 000
15 000 000
6
0
12 494 575
-2 474 400
15 000 000
1
15 000 000
11
0
12 821 426
269 832
Other Joint Stock Companies
№
Name of the joint stock
company
Legal address
ISIN
Number of
securities
Nominal
value
MDL
Share capital
Number of
shareholders
Dividends
calculated
and
directed to
be paid in
2013 for
2012
Net profit
MDL
Total
capital
shareholde
r
1
LAFARGE CIMENT JSC
Rezina city,
Viitorului street, 1
MD14CEMT1002
14 833 509
30
445 005 270
1 370
44 665 753
2 073 035
66 022 733
2
MAGNOLIA-SERVCOM JSC
Chisinau municipality,
Petricani street, 23
MD14MAGN1008
278 046
10
2 780 460
120
0
0
1 109 191
3
ÎNTREPRINDEREA DE
COLECTARE A
CEREALELOR DIN
OLĂNEŞTI JSC
Stefan-Voda district, Olanesti
village,
31 August street
MD14LELO1007
120 854
5
604 270
1 001
0
0
-107 873
4
DAAC-VICTORIA JSC
Chisinau municipality,
M. Dosoftei street, 100
MD14DAVI1007
1 936 659
1
1 936 659
74
0
0
-133 555
5
ZIDCALTEN JSC
Hincesti city,
Industriala street, 7
MD14ZITE1001
115 691
10
1 156 910
158
0
913
53 923
6
INTERAUTOTRANS JSC
Chisinau municipality,
Padurilor street, 4
MD14INAU1006
302 607
20
6 052 140
206
0
0
1 180 534
7
INTEH JSC
Chisinau municipality,
Mesterul-Manole street, 18
MD14NTEH1006
602 045
10
6 020 450
2 636
0
1 250
-4 714 674
8
AGROMAȘINA JSC
MD14AGRN1003
1 397 351
10
13 973 510
1 440
0
0
1 721 645
9
CENTRUL DE MODA JSC
Chisinau municipality,
Uzinelor street, 21
Chisinau municipality,
boulevard Stefan cel Mare si
Sfint, 182
MD14MODA1000
1 848 258
9
16 634 322
309
1 576 877
1 024
1 187 204
10
FABRICA DE CONSERVE
DIN CALARASI JSC
MD14FASE1004
310 610
50
15 530 500
2 921
0
48 770
4 949
Calarasi city,
Calarasilor street, 3
154
11
FABRICA DE DROJDII DIN
CHISINAU JSC
Chisinau municipality,
Uzinelor street, 1
MD14DROJ1006
361 424
12
4 337 088
1 065
0
22 717
-571 333
12
PAN COM JSC
Chisinau municipality, Kiev
street, 16/1
MD14PANC1009
139 189
10
1 391 890
300
0
2 034
2 497
13
MOLDTEHMED JSC
Chisinau municipality,
M.Dragan street, 19
MD14TEHM1007
106 740
10
1 067 400
163
0
0
242 023
14
AGROTEH JSC
Orhei city,
Negruzzi street, 87
MD14GROT1001
273 127
10
2 731 270
433
0
0
-93 323
15
DRUM-3 JSC
Calarasi city, Constructorilor
street, 8
MD14MURD1003
216 118
10
2 161 180
144
0
604
-59 663
16
ROMANIŢA JSC
Hincesti city,
31 august street, 72
MD14ROMA1004
106 325
10
1 063 250
1 389
0
0
-310 333
17
PARCUL DE AUTOBUZE
NR.1 JSC
Chisinau municipality,
Gradina Botanica street, 9
MD14PPPA1002
92 990
20
1 859 800
1 436
0
3 863
-1 341 850
18
COMCON VICTORIA JSC
Chisinau municipality, Haltei
street, 41/1
MD14COMC1009
16 755
33
552 915
559
0
3 081
31 914
19
ANGROGOSCOM JSC
Chisinau municipality,
Petricani street, 21/4
MD14AGCO1009
408 360
10
4 083 600
56
0
2 490
1 951 443
20
TEHOPTIMED JSC
Chisinau municipality,
M.Dragan street, 19A
MD14TEHO1005
62 877
12
754 524
56
0
1 199
-97 090
21
BAZA DE TRANSPORT
AUTO NR.18 JSC
Criuleni city,
31 August street, 1
MD14CBTA1009
256 594
11
2 822 534
457
0
5 063
98 798
22
APEX JSC
Anenii Noi district, Merenii
Noi village
MD14APEX1005
167 161
20
3 343 220
448
0
0
-1 194 588
23
INTERIOR JSC
Chisinau municipality, Dacia
boulevard, 27
MD14INTR1000
83 653
10
836 530
108
0
765
211 485
24
BAŞTINA JSC
Chisinau municipality,
Muncesti street, 801/3
MD14 BATI1003
339 537
8
2 716 296
595
0
0
136 910
25
PIESE AGRO-PRIM JSC
Chisinau municipality,
Muncesti street, 801 A
MD14AGPP1001
322 258
9
2 900 322
351
0
0
257 115
26
CRIOCONSTRUCŢIA JSC
MD14ASCC1009
1 458 037
1
1 458 037
68
0
3 032
-564 842
27
CODREANCA JSC
Criuleni city,
Orhei street, 54
Calarasi city,
Alexandru cel Bun street,
114
MD14CODR1003
181 086
10
1 810 860
2 067
358 826
135 849
559 512
28
PRESUDOR JSC
Chisinau municipality,
Columna street, 184/1
MD14PDSR1004
377 667
23
8 686 352
64
400 384
0
-2 927 361
29
TRANSCOMUNICAŢII JSC
Chisinau municipality,
Stauceni village, Ciorescu
MD14COMU1007
335 000
10
3 350 000
64
0
831
136 153
155
street, 1
30
MONTAJCOM JSC
Chisinau municipality, Valea
Bicului street, 1/2
MD14ONTA1001
59 969
10
599 690
170
0
0
-21 299
31
MONOLIT JSC
Chisinau municipality,
Grigore Vieru boulevard, 22/1
MD14MONO1002
1 662 575
15
24 938 625
1 282
0
22 734
8 686 928
32
MEZON JSC
Chisinau municipality,
Moscovii boulevard, 21
MD14MEZO1000
7 507 452
10
75 074 520
1 822
0
185 731
2 492 418
33
ÎM JOLLY ALON JSC
Chisinau municipality, M.
Cebotari street, 37
MD14JOLL1002
532
46310
24 636 920
2
1 260 148
0
109 233
34
MOLDOVAGAZ JSC
Chisinau municipality,
Albisoara street, 38
MD14MOLG1004
13 329 080
100
1 332 908 000
1 702
0
1 053 773
-174 365 497
35
INCONARM JSC
Chisinau municipality,
Petricani street, 86
MD14INCR1009
207 928
40
8 317 120
347
0
46 455
4 133 410
36
ASICON JSC
Calarasi city, Constructiilor
street, 6
MD14 ASIC1003
95 610
10
956 100
169
0
3 783
-189 918
37
TEHNOVIN JSC
Chisinau municipality,
Studentilor street, 2/4
MD 14NOVI1009
1 128 227
10
11 282 270
467
0
99 982
-320 175
38
AUTOMOTOTRANS JSC
Chisinau municipality,
Bariera Sculeni street, 9 a
MD14AMTR1009
44 850
15
672 750
225
0
0
-79 631
39
CARIERA MICĂUŢI JSC
Straseni city,
Gornoe village
MD 14MICU1005
255 701
10
2 557 010
155
0
4 980
2 471 685
40
REUPIES JSC
Chisinau municipality,
Columna street, 170
MD14REUP1009
139 873
15
2 098 095
72
0
1 562
-530 796
41
TRANSCON-M JSC
MD14SCON1000
1 589 200
10
15 892 000
601
0
75 100
-704 382
42
GEMENI JSC
Chisinau municipality,
V. Alecsandri street, 119A
Chisinau municipality, Stefan
cel Mare si Sfint boulevard,
136
MD14GEMN1004
11 712 493
2
23 424 986
491
35 745 018
13 300
35 745 018
43
TERMOCOM JSC
Chisinau municipality,
T. Vladimirescu street, 6
MD14TERO1003
648 998
50
32 449 900
947
0
9 496 155
-38 642 101
44
RZ - TRANSCOM JSC
Rezina city,
27 august street , 64 a
MD14RASI1005
36 874
20
737 480
65
0
0
-143 892
45
ANGROCONSTRUCTIA JSC
Chisinau municipality,
Petricani street, 19/5
MD14ANGR1003
136 099
10
1 360 990
533
0
0
-25 035
46
HOLDING CHISINAUCONINVEST JSC
MD14CONI1002
103 772
35
3 632 020
724
0
250
448 833
47
IALTEXGAL-AURICA JSC
MD14IALA1002
111 112
9
1 000 008
570
0
0
-212 705
Chisinau municipality,
Mesterul Manole street, 5
Ialoveni city,
Alexandru cel Bun street, 30
156
48
49
50
51
AGROSERVICE - CRIULENI Criuleni city,
JSC
Orheiului street, 56
Ialoveni district,
AGRO - COSTEŞTI JSC
Costesti village
Chisinau municipality,
MACARA JSC
Codru city, Costiujeni street, 7
Causeni city,
METALIC JSC
Kogalniceanu
street, 10
MD14CRIU1000
1 933 023
1
1 933 023
510
0
0
10 760
MD14TEMA1004
1 221 074
1
1 221 074
101
0
0
87 762
MD14MACA1007
136 593
7
956 151
55
0
1 170
-225 764
MD14META1004
92 102
40
3 684 080
0
0
-55 352
52
REZINDMONTAJ JSC
Rezina city,
Dacia street, 38
MD14REZM1007
163 791
10
1 637 910
103
0
552
-553 686
53
TUTUN - CTC JSC
Chisinau municipality, Ismail
street, 166
MD14TCTC1007
5 591 020
20
111 820 400
628
38 440 307
2 350 054
44 979 579
54
DIASET-VIN JSC
Hincesti district, Dragusenii
Noi village
MD14DVIN1002
52 988
50
2 649 400
57
0
0
-125 022
55
BAZA DE TRANSPORT
AUTO NR.-28 JSC
Calarasi city,
Alexandru cel Bun street, 238
MD14BARA1003
81 653
10
816 530
224
0
3 250
957 786
56
LUSMECON JSC
Chisinau municipality,
Grigore Vieru boulevard, 22/1
MD14LUSM1002
261 164
50
13 058 200
989
0
65 872
5 242 692
57
Î.M. ALIMCOM JSC
Chisinau municipality,
Muncesti street, 258
MD14ALIM1008
1 378 328
10
13 783 280
784
0
14 931
-1 548 409
58
SĂIŢI JSC
Causeni district,
Saiti village
MD14JSCIT1004
80 695
20
1 613 900
378
0
6 667
286 903
59
MIDGARD TERRA JSC
Chisinau municipality,
Transnistria street, 6
MD14MITE1006
504 407
38
19 167 466
1 509
0
3 190
-4 394 127
60
PIELART JSC
Chisinau municipality, Calea
Iesilor street, 10
MD14PIEL1001
1 194 432
40
47 777 280
2 568
0
281 831
8 263 408
61
CONSATOR JSC
Ungheni city,
Balteni street, 1
MD14CONA1000
173 876
10
1 738 760
150
0
0
5 431
62
AGAT JSC
Chisinau municipality,
M. Sadoveanu street, 42
MD14AGAT1006
4 266 456
10
42 664 560
541
0
11 229
-789 092
63
ÎNTREPRINDEREA DE
TRANSPORTURI AUTO
NR.1 JSC
Chisinau municipality,
Socoleni street, 31
MD14TRAS1003
230 680
17
3 921 560
221
0
333
-1 455 709
64
UTILAJCOM JSC
Chisinau municipality,
Industriala street, 40
MD14UTIL1007
603 785
5
3 018 925
706
0
16 273
441 727
65
ESTATE GROUP JSC
Chisinau municipality,
Feredeului street, 4
MD14ESRO1004
6 128 443
4
24 513 772
50 674
245 138
5 335
137 332
157
66
TIREX PETROL JSC
Chisinau municipality,
Columna street, 90
MD14TIRP1008
18 579 712
6
111 478 272
5 509
7 431 885
764 265
3 660 165
67
DRUMURI-IALOVENI JSC
Ialoveni district,
Chilia street, 2a
MD14IALD1009
1 505 584
10
15 055 840
50
28 606
94 654
102 723
68
DIGRENTA JSC
Chisinau municipality,
Alexandru cel Bun street, 36
MD14GIRA1000
535 577
1
535 577
1 197
263 665
264
411 685
69
DAAC HERMES JSC
Chisinau municipality, Calea
Iesilor street, 10
MD14DACH1001
507 528
20
10 150 560
240
0
1 222
198 563
70
VIORICA-COSMETIC JSC
Chisinau municipality,
Mesager street, 1
MD14VITM1005
1 774 987
11
19 524 857
535
8 876
211 512
8 037
71
ELEVATOR KELLEY
GRAINS JSC
Causeni city,
Tighina road, 13
MD14KELY1006
1 348 659
10
13 486 590
3 073
0
38 949
-29 646 978
72
AEROPORT HANDLING JSC
MD14HOPE1004
204 500
10
2 045 000
1
2 054 960
13 788
3 320 845
73
FLOARE-CARPET JSC
Chisinau municipality, Dacia
boulevard, 80/3
Chisinau municipality, Gradina
Botanica street, 15
MD14CARP1005
6 086 209
10
60 862 090
8 901
72 666
224 361
275 461
74
PIELE JSC
Chisinau municipality, Ismail
street, 99
MD14PIEE1000
1 347 968
8
10 783 744
2 278
0
3 097 046
-1 118 351
75
MICRON JSC
Chisinau municipality,
Decebal boulevard, 139
MD14MICR1000
1 049 297
10
10 492 970
146
0
46 566
-271 388
76
PROMSTROI-GRUP JSC
Chisinau municipality,
Uzinelor street, 90
MD14SOGU1007
1 147 129
10
11 471 290
3 364
0
11 194
4 933 634
77
BCA TEXTILE JSC
Chisinau municipality,
Petricani street, 23/2
MD14TEXT1000
434 763
10
4 347 630
737
0
0
61 807
78
CASA NUNŢII-NOROC JSC
Chisinau municipality,
Sucevita street, 34
MD14OROC1000
173 048
20
3 460 960
175
2 201 686
0
2 590 219
79
FABRICA DE PRODUSE
LACTATE DIN CĂLĂRAŞI
JSC
MD14LRAI1003
215 603
F/V
916 030
87
0
0
61 091
80
ÎNTREPRINDEREA
PISCICOLĂ COSTESTI JSC
Calarasi city,
Stefan Neaga street, 15
Ialoveni district,
Costesti village, Stefan cel
Mare street, 71
MD14OSTE1002
82 165
10
821 650
328
0
2 052
603 187
81
CEPROSERVING JSC
MD14VING1009
351 190
3
1 053 570
75
450 000
77 680
1 265 060
82
ASCHIM JSC
MD14ASCH1004
2 379 602
10
23 796 020
1 454
0
7 970
-674 469
83
BIROUL PRINCIPAL
SPECIALIZAT DE
MD14BPSP1008
12 187
47
572 789
253
0
702
222 763
Chisinau municipality,
Negruzzi boulevard, 2
Chisinau municipality,
T.Vladimirescu street, 70
Chisinau municipality,
Uzinelor street, 21
158
PROIECTĂRI JSC
Chisinau municipality,
Sarmizegetusa street, 12
MD14IPDA1005
1 242 090
1
1 242 090
70
0
0
-11 741
SANFARM-PRIM JSC
Chisinau municipality,
Grenoble street, 149 a
MD14FIMA1006
449 233
10
4 492 330
119
0
65 051
647 887
86
ARMO-BETON JSC
Chisinau municipality, Bacioi
village, Uzinelor street, 8
MD14ARMO1004
522 102
10
5 221 020
1
0
0
1 449 937
87
DALIA JSC
Chisinau municipality,
Nicolai Zelinski street, 7/1
MD14DALI1009
129 088
10
1 290 880
413
0
3 667
357 283
88
ORHEI-VIT JSC
Chisinau municipality,
Mesager street, 16
MD14VITE1005
2 016 069
15
30 241 035
1 304
0
225 079
1 442 926
89
GRISAN HAMB JSC
Chisinau municipality,
Mitropolit Varlaam street, 56
MD14GRIS1000
748 947
3
2 246 841
70
0
450
6 668 811
90
TRACOM JSC
Chisinau municipality,
Columna street, 170
MD14TRAC1001
2 274 887
23
52 322 401
1 613
0
0
4 142 595
91
UNCONSACOM JSC
Ungheni city,
Boico street, 4
MD14JSCCO1005
752 571
5
3 762 855
153
0
0
-216 720
92
COLOANA AUTO-2830 JSC
Orhei city,
Unirii street, 128
MD14CACA1009
316 756
15
4 751 340
400
0
2 314
384 188
93
API JSC
Orhei city,
31 August street, 2
MD14APPI1001
1 608 315
10
16 083 150
2 317
0
9 557
-690 985
94
CONSOCIVIL JSC
Chisinau municipality,
Bucuresti street, 23 "a"
MD14CONC1008
568 715
10
5 687 150
274
0
5 243
2 815 199
95
EDIFICIU JSC
Chisinau municipality,
Padurii street, 12
MD14EDIF1003
64 662
10
646 620
279
0
0
-67 684
96
FABRICA DE VINURI DIN
PUHOI JSC
Ialoveni district,
Puhoi village
MD14PUHO1009
2 193 585
1
2 193 585
444
0
0
-97 544
97
TIPAR COLOR JSC
Chisinau municipality,
Bucuriei street, 12/A
MD14TICO1006
3 617 297
10
36 172 970
3 123
0
0
-986 757
98
AMBALAJ - BULBOACA
JSC
Anenii Noi district, Bulboaca
village
MD14AMBA1008
233 978
10
2 339 780
192
0
0
-62 302
99
INTROSCOP JSC
MD14TROS1007
1 522 097
10
15 220 970
380
0
273 770
2 697 217
100
MONTTEHSAN JSC
Chisinau municipality,
Mesterul Manole street, 20
Chisinau municipality,
Mitropolitul BanulescuBodoni street, 45
MD14HJSCN1001
37 768
30
6 032 170
797
0
0
-38 740
101
SUCCES JSC
MD14CCES1005
185 141
10
1 851 410
162
0
1 901
-1 690
84
IPDA JSC
85
Chisinau municipality,
Cetatea Alba street, 17
159
102
SUD - VEST MONTAJ JSC
103
MOLDOVA TUR JSC
104
MELIOSERVICE JSC
105
ULMU-VIN JSC
106
CONCOM RTCA JSC
107
RADIATOR JSC
108
Chisinau municipality,
Voluntarilor street, 8
MD14SUDV1001
43 427
15
651 405
87
0
45
-46 956
MD14MTUR1005
1 299 137
10
12 991 370
1309+2CF+3DN
0
8 365
41 265
MD14MELI1004
149 539
10
1 495 390
127
0
0
-5 860
MD14ULMV1007
191 987
10
1 919 870
1 935
0
0
60 602
MD14RTCA1001
1 614 163
1
1 614 163
94
0
1 518
12 247
Chisinau municipality,
Columna street, 170/3
MD14RADI1003
57 153
47
2 686 191
206
0
17 283
326 771
CARMEZ JSC
Chisinau municipality,
Muncesti street, 121
MD14RMEZ1007
2 160 905
10
21 609 050
2 788
0
175 619
-26 496 929
109
AGROTEHNICA JSC
Nisporeni city,
T. Ciorba street, 2
MD14AGNI004
60 223
10
602 230
137
0
0
-9 065
110
LEMNAR JSC
Chisinau municipality,
M. Dragan street, 11
MD14LEMN1007
439 312
15
6 589 680
3 637
0
0
187 307
111
MOLDTELECOM JSC
MD14MTEL1001
98 419 395
10
984 193 950
1
MD14MOLC1008
63 773
100
6 377 300
222
4 295 112
7 116
4 549 513
Orhei city,
Unirii stret, 49
MD14COLN1007
107 120
10
1 071 200
664
0
2 455
936 606
Orhei city,
Unirii street, 57
Calarasi city,
Hirjauca village
MD14ORBI1009
362 227
10
3 622 270
1 191
0
0
-763 897
MD14HVIN1008
242 341
10
2 423 410
499
0
0
2 070
112
Chisinau municipality,
boulevard Stefan cel Mare, 4
Chisinau municipality,
Alexandru cel Bun street, 49
Ialoveni city,
Ulmu village
Chsinau municpality,
Petricani street, 202
Chisinau municipality, Stefan
cel Mare boulevard, 10
MOLDAGROCONSTRUCTIA Chisinau municipality,
Mitropolitul Varlaam street,
JSC
65
111 190 751 261 881 685
112 698 619
113
COLOANA AUTO -2811 JSC
114
FIRMA DE PRODUCŢIE ŞI
COMERŢ ORHEI-MOBILĂ
JSC
115
HÎRJĂUCA - VIN JSC
116
NUFĂRUL JSC
Chisinau municipality,
M.Eminescu street, 70
MD14NUNU1005
79 016
10
790 165
194
94 819
38 186
1 590 271
ATC-AGROTEHCOMERȚ
JSC
FABRICA DE PIINE DIN
ORHEI JSC
COMBINATUL DE
ARTICOLE DIN CARTON
JSC
Hincesti city,
N.Milescu-Spataru street, 33
MD14ATEH1001
29 638
100
2 963 800
248
1 037 330
1 493
-1 144 950
Orhei city,
B. Glavan street, 5
MD14FDPO1002
135 013
10
1 350 130
1 610
0
20 985
-1 309 238
Chisinau municipality,
Transnistria street, 16
MD14COAR1006
295 088
50
14 754 400
452
0
53 184
-3 603 649
117
118
119
160
120
BAZA DE TRANSPORT
AUTO nr. 36 JSC
Causeni city,
Alba Iulia street, 46
MD14ATBS1001
167 216
10
1 672 160
166
0
546
-687 027
121
AUTOMOBILISTUL-NIS JSC
Nisporeni city,
Viilor street,117
MD14AUTN1003
50 020
10
500 200
104
0
0
-23 815
122
ZORILE JSC
Chisinau municipality, Calea
Iesilor street, 8
MD14ZORI1001
2 196 405
18
39 535 290
6 668
0
467 738
-11 276 302
123
BUCURIA JSC
Chisinau municipality,
Columna street, 162
MD14BUCU1002
1 646 396
10
16 463 960
4 199
0
1 153 917
12 296 206
124
PROURA-VIN JSC
Calarasi city,
Oniscani village
MD14PRVO1006
526 137
10
5 261 370
401
0
0
-442 416
125
SANIS-VIN JSC
Nisporeni city,
Stefan cel Mare street, 38
MD14JSCVI1000
515 036
10
5 150 360
1 016
0
0
-66 633
126
COLOANA MECANIZATĂ
MOBILĂ JSC
Chisinau municipality,
Pruncul, Tineretului street, 5
MD14COLM1008
31 366
50
1 568 300
92
0
4 949
81 274
127
DRENAJ JSC
Chisinau municipality,
Uzinelor street, 188
MD14RENA1005
149 203
10
1 492 030
308
0
136
-26 389
128
CRIO-IZVORUL JSC
Chisinau municipality,
M.Manole street, 6/2
MD14IZVO1005
533 339
1
533 339
818
0
175
19 664
129
LIFTMONTAJ JSC
Anenii Noi district,
Dacia street, 1
MD14LIFT1006
627 126
1
627 126
131
0
3 250
4 519 227
130
AGROVIN BULBOACA JSC
Chisinau municipality, Calea
Iesilor street, 8
MD14AGBU1002
5 314 507
4
21 258 028
356
0
300 286
14 722 432
131
IAMOCS-SERVICE JSC
Ialoveni city,
Hincesti street, 28
MD14IAMO1005
237 763
10
2 377 630
234
0
0
-205 333
132
FERTILITATEA DIN
STRĂȘENI JSC
Straseni city,
Miron Costin street, 8
MD14TERF1004
193 321
10
1 933 210
126
0
1 125
-103 018
133
BUTOIAȘ JSC
Chisinau municipality, Calea
Iesilor street, 71
MD14BUTO1001
3 299 862
1
3 299 862
131
0
0
1 355 528
134
Î.M. MOLDO-AMERICANĂ
CUANTA JSC
Chisinau municipality,
Belgrad street, 16
MD14ANTA1007
48 936
50
2 446 800
94
0
13 715
-87 434
135
ELCOM JSC
Orhei city,
Unirii street, 128
MD14ELOM1006
120 226
20
2 404 520
1 174
0
2 043
-3 009 903
136
UNIC-SEM JSC
Chisinau municipality,
sf. Gheorghe street, 3
MD14UNEM1006
171 721
10
1 717 210
855
0
0
-107 165
COMBINATUL AUTO nr.4
JSC
COMBINATUL DE
PRELUCRARE A
Chisinau municipality,
Padurii street, 13
MD14AUBI1000
693 799
10
6 937 990
979
30 439
74 375
101 189
Chisinau municipality,
Muncesti street, 623
MD14FAGG1000
635 112
10
6 351 120
299
0
0
-242 442
137
138
161
LEMNULUI FAG JSC
139
TRANSOBIECT JSC
Chisinau municipality, Doina
street, 150
MD14TROB1006
115 560
10
1 155 600
61
0
0
-92 667
140
MEGA PRIM JSC
Chisinau municipality,
Columna street, 63
MD14EGAP1006
9 842 035
4
39 368 140
82 323
393 681
0
443 341
141
ZIDARUL -ŞTEFAN- VODĂ
JSC
Stefan-Voda city,
Zona Industriala street
MD14ZIST1005
116 735
10
1 167 350
250
0
10 050
-237 262
142
GALANTA JSC
Orhei city,
V. Lupu street,171
MD14GALA1004
779 317
10
7 793 170
1 056
0
16 000
-329 535
143
VINĂRIA CĂUŞENENILOR
JSC
Causeni city,
Alba – Iulia street, 51
MD14LORC1003
491 272
20
9 825 440
5 485
0
0
-32 677
144
Î.M. FARMACO JSC
Chisinau municipality, Vadul
lui Voda street, 2
MD14FARM1005
649 627
37
24 036 199
1 008
0
1 670 761
-24 973
145
AMELIORATOR-23 JSC
Hincesti city,
M. Kogalniceanu street, 4
MD14AMEL1002
61 660
43
2 651 380
373
0
7 700
-30 651
146
CRIOFERTILITATEA JSC
Criuleni city,
Uzinelor street, 2
MD 14FECR1003
913 979
1
913 979
157
0
0
-61 486
147
DIMECON-11 JSC
Chisinau municipality,
Industriala street, 46
MD14DIME1004
538 543
7
3 769 801
471
0
54 404
-1 481 788
148
VINĂRIA VOLINTIRI JSC
Stefan Voda district, Volintiri
village, Voluntirilor street
MD 14ONTR1002
289 529
10
2 895 290
930
0
0
513
149
MOLDELINA JSC
Chisinau municipality,
Petricani stereet, 21
MD14MOND1005
269 199
10
2 691 990
202
670 761
10 390
2 807 227
150
AGROPETROL JSC
Chisinau municipality,
Feredeului street, 4
MD14TROL1004
97 485
10
974 850
606
0
21 192
-6 071 239
151
AUTOCOMERŢ- SERVICE
JSC
Chisinau municipality, Calea
Orheiului street, 125/1
MD14CTEC1004
343 419
6
2 060 514
161
0
0
-126 252
152
CONTINENT-SERVICE JSC
Chisinau municipality, Calea
Orheiului street, 125
MD14ICEV1004
1 732 922
2
3 465 844
540
0
0
994 108
153
BICON JSC
MD14BCON1009
138 214
10
1 382 140
96
0
1 576
-1 724
154
RESTAURATORUL JSC
MD 14REST1009
91 028
9
819 252
152
0
0
-473 062
155
ÎNTÎLNIREA JSC
Chisinau municipality, Dimo
street, 13
MD14INTL1006
1 607 212
Without
VN
1 521 702
369
0
390
-183 856
156
PLOVDIV JSC
Chisinau municipality,
Moscova boulevard, 6
MD14PLOV1002
1 486 876
1
1 486 876
1 333
0
0
2 406 683
Straseni city,
Chisinaului road, 4
Chisinau municipality,
Hanul Morii street, 42
162
157
FABRICA DE PRODUSE
LACTATE DIN HÎNCEȘTI
JSC
158
ORIZONT JSC
159
TRANSSERVICE JSC
160
SUPRATEN JSC
161
BPC-AGROINDMAŞ JSC
162
AGROINDPROIECT JSC
163
AGROMONTAJ JSC
164
AGROSERVICE CĂINARI
JSC
165
AGROSERVICE- UNGHENI
JSC
166
ARTIZANA JSC
167
AUTOMOBILISTUL JSC
168
BRAVICEA VIN JSC
169
BTA-31 CHIŞINĂU JSC
170
BTA-7 JSC
171
MAGAZINUL BUSUIOC JSC
172
CAAN JSC
173
CARACUDA HÎNCEŞTI JSC Hincesti city,
Industriala street, 22
174
CARIERA COBUSCA JSC
Hincesti city,
Industriala street, 10
MD14FALA1005
192 068
25
4 801 700
121
0
0
-1 701 359
MD14RIZO1001
55 979
268
15 002 372
277
559 790
29 360
1 817 131
MD14REVI1007
85 190
10
851 900
792
3 520
5 971
130 187
MD14RATE1009
516 986
14
7 237 804
2 297
0
966 847
6 347 014
MD14AIND1007
112 063
20
2 241 260
130
0
0
-196 745
MD14IECT1008
82 679
10
826 791
272
310 322
417
727 820
MD14AGTJ1007
530 017
11
5 830 187
121
0
0
-179 557
MD14ARSE1000
53 368
10
533 680
205
0
-91 867
MD14AGUN1008
215 000
5
1 075 000
467
0
0
585
MD14ARTIZ1004
61 521
30
1 845 630
226
0
7 055
860
MD14MOBI1004
117 044
10
1 170 444
101
0
4 000
115 341
Calarasi district,
Bravicea village
MD14VINB1004
127 595
50
6 379 750
969
0
47
-394 956
Chisinau municipality,
Petricani street, 94
Stefan Voda city,
Chisinau street, 14
MD14BTAC1009
276 777
10
2 767 770
283
0
0
-204 826
MD14ATBS1001
77 502
10
775 021
317
0
0
3 897
Chisinau municipality,
Zelinski street, 36
Straseni city,
V. Crasescu street, 1
MD14BUSU1004
37 273
25
931 830
1 203
0
292
917 248
MD14CAAN1006
3 051 083
8
24 408 664
461
0
36 387
975 320
MD14CARA1002
219 045
10
2 190 450
338
0
0
31 405
MD14COBU1000
148 210
15
2 223 150
61
0
18 559
608 013
Chisinau municipality,
Uzinelor street, 171/2
Chisinau municipality,
A. Botezatu street, 5
Chisinau municipality,
Petricani street, 84
Chisinau municipality, Lunca
Bicului street, 19/1
Chisinau municipality,
Armeneasca street, 55
Chisinau municipality,
Burebista street,108
Cainari city,
Stefan Voda street, 48
Ungheni district,
Cornesti village, Stefan cel
Mare street,112
Chisinau municipality,
Academiei street, 13/1
Orhei city,
Pelivan village
Anenii Noi district,
Salcia village
163
175
CEREALE VULCĂNEȘTI
JSC
176
CHIMISTUL-M JSC
Chisinau municipality, Alecu
Russo street, 18/3
Chisinau municipality,
Muncesti street, 803
MD14CEVU1008
497 424
8
3 979 397
4 452
0
423
-2 449 023
MD14MIST1000
358 963
10
3 589 630
254
0
0
-8 676
COMBINATUL AUTO NR.5
JSC
FERTILITATE ANENII NOI
JSC
Chisinau municipality,
Petrariei street, 19
MD14OMBI1004
59 428
76
4 516 528
394
0
0
46 367
Anenii Noi city,
Parcului street, 14 A
MD14LITA1001
275 545
10
2 755 450
79
0
0
-60 148
179
FORESTCOM JSC
MD14FEST1003
146 492
10
1 464 920
373
0
975
1 399 079
180
FRANZELUŢA JSC
Chisinau municipality,
Muncesti street, 807
Chisinau municipality,
Sarmizegetusa street, 30
MD24FRAN1002
1 000 000
1
1 000 000
1 768
853 520
1 316 273
1 230 436
181
FURNIZORUL ABA JSC
Chisinau municipality,
Mesterul Manole street, 5A
MD14FURN1000
451 793
35
15 812 755
567+7CF
0
24 929
1 580
182
JLC JSC
Chisinau municipality,
Sarmizegetusa street, 90
MD14JLCI1001
692 149
56
38 760 344
2 748
0
345 439
20 802 278
183
JLC-INVEST JSC
MD14JLIN1008
63 200 420
0
45 855 160
108 453
0
2 083
778 058
184
LA RĂSCRUCE JSC
Chisinau municipality, Dacia
boulevard, 35
Chisinau municipality, CuzaVoda street, 30/1
MD14LRSC1009
30 000
21
630 000
336
0
0
519 431
185
MACON JSC
Chisinau municipality,
Uzinelor street, 104
MD14MACN1002
4 373 588
5
21 867 941
1 431
0
784 878
-1 276 537
186
MANVIN JSC
Orhei district,
Mana village
MD14ANVI1005
604 095
10
6 040 950
656
0
0
-6 397
187
MILEŞTI VIN JSC
Nisporeni district,
Milesti village
MD14MILV1003
476 679
10
4 766 790
1 148
0
10 000
160 391
188
MINA DIN CHIŞINĂU JSC
Chisinau municipality, Calea
Orheiului street, 90A
MD14GUAR1004
291 833
10
2 918 330
2 997
0
3 202
-972 683
189
MINERAL JSC
MD14NERA1005
469 246
20
9 384 920
157
246 931
3 312
269 746
190
MOLDCINEMA JSC
Cricova city,
Chisinaului street, 86
Chisinau municipality,
Muncesti street, 171
MD14CINE1004
591 303
3
1 773 909
1
0
171 578
11 292
191
MOLDELECTROMONTAJ
JSC
Chisinau municipality,
Uzinelor street, 64
MD14MOEL1006
55 620
100
5 562 000
546
422 728
3 901
-444 149
192
MOLDOVAHIDROMAŞ JSC
Chisinau municipality,
Mesterul Manole street, 7
MD14MHID1001
51 234 875
1
51 234 875
3 101
0
290 988
6 679 129
177
178
164
Chisinau municipality,
M.Dragan street, 11
MD14OGLI1000
117 588
25
2 943 900
262
0
0
-96 738
Chisinau municipality,
Titulescu street, 49
Chisinau municipality,
Uzinelor street, 201
MD14OŢEL1009
160 452
10
1 604 520
3
0
1 754
150 330
MD14GLAS1004
503 196
484
243 546 864
12
148 217
-14 866 245
Chisinau municipality, Alba
Iulia street, 75
MD14TEBS1007
1 064 559
10
10 645 590
5 135
0
0
52 097
Chisinau municipality,
Bucuresti street, 51
Stefan voda district, Tudora
village, Stefan cel Mare
street, 232
MD14TERM1005
283 490
20
5 669 800
1 184
0
1 500
66 340
MD14DORA1005
222 800
10
2 228 000
706
0
16 332
5 282
Ungheni city,
Nationala street, 119
MD14UNCO1006
20 679
50
1 034 034
162
0
22 861
6 130
Hincesti city,
Industriala street, 12
Ialoveni district,
Bardar village, Uzinelor
street, 3
Orhei city,
Peresecina village, Stefan cel
Mare street, 4
MD14UNIT1005
35 829
25
895 725
870
0
0
-135 404
MF14BARD1000
156 699
35
5 484 465
755
0
314 868
4 705 457
MD14VCOD1007
478 077
10
4 780 770
327
0
8 502
680 001
MD14VITA1009
105 884
20
2 117 680
250
0
0
-71 518
MD14VITI1001
127 599
100
12 759 949
147
0
14 658
-2 317 093
Straseni city,
Zubresti village
MD14ZUBR1000
588 120
1
588 120
1 607
0
0
-1 970 504
Ungheni city, O. Ungureanu
street, 1
MD14CEPU1006
3 838 109
15
57 571 635
802
0
0
-4 097 069
MD14FEEC1008
168 852
10
1 688 520
178
0
102 657
-2 925 209
MD14MAMA1005
1 517 545
1
1 517 545
84
230 643
0
190 928
193
OGLINDIRE JSC
194
OȚELCON JSC
195
GLASS CONTAINER
COMPANY JSC
196
TEBAS JSC
197
TERMOTRANJSAUTO JSC
198
TUDORA-VIN JSC
199
UNCONS JSC
200
UNITA JSC
201
VINĂRIA-BARDAR JSC
202
VINUL CODRILOR JSC
203
VITAMINA JSC
204
VITIS HÎNCEŞTI JSC
Nisporeni district,
Cioresti village
Hincesti city,
Chisinaului street, 27
205
ZUBREŞTI JSC
206
207
Comb. de producere a
cerealelor "CEREALE PRUT" JSC
FABRICA DE ELEMENTE
DE CONSTRUCȚII JSC
Chisinau municipality,
Uzinelor street, 96
Chisinau municipality,
Stefan cel Mare boulevard, 60
208
MĂMĂLIGUȚA JSC
209
HIDROPOMPA JSC
Chisinau municipality,
Gagarin boulevard, 2
MD14HIDR1004
11 073 260
10
11 141 960
2 900
0
100 433
-1 067 844
210
IPC ICAM JSC
Chisinau municipality,
Tighina street, 65
MD14CIMA1009
3 188 520
5
15 942 600
3 449
1 594 260
27 346
-477 851
165
AGROMEC JSC
Orhei city,
B. P. Hasdeu street, 2 a
MD14AGMC1001
121 931
10
1 219 310
272
0
1 024
-285 734
FERTILITATEA-IALOVENI
JSC
ANGROCOMERȚ VEST EST
JSC
Ialoveni city,
Alexandru cel Bun street, 31
MD14 FEIA1006
41 322
14
578 508
277
0
1 470
-286 047
Ungheni city,
Crestiu street, 3
MD14CORD1003
65 026
50
3 251 300
204
0
4 200
770 718
214
VAR-NEST JSC
Chisinau municipality,
Pelivan Ion street, 30/6, of.18
MD14VARN1004
368 496
10
3 684 960
259
0
0
725 694
215
TAXI SERVICE JSC
Chisinau municipality, Calea
Iesilor street, 14
MD14TAXI1007
314 560
10
3 145 600
283
0
374
289 332
216
COMBINATUL DE
Chisinau municipality,
PRODUSE CEREALIERE din
Uzinelor street, 2
Chișinău JSC
MD14CPCC1000
3 997 422
29
115 925 238
4 216
0
2 603
-1 939 535
217
BETON ARMAT JSC
Chisinau municipality,
Uzinelor street, 12
MD14BETA1007
136 908
25
3 422 700
311
0
2 585
-1 341 468
218
SPERANŢA JSC
Rezina city,
Decebal street, 42
MD14SPRE1003
95 527
10
955 270
64
0
625
766 594
219
DRUMURI CHIŞINĂU JSC
Chisinau municipality,
Balcani road, 3
MD14CHID1003
1 705 492
10
17 054 920
75
27 200
100 826
6 462
220
CONSMONT JSC
Orhei city,
Eliberarii street, 172
MD14CONO1004
194 993
10
1 949 930
286
0
9 599
-389 035
221
TOPAZ JSC
Chisinau municipality,
D. Cantemir, 1
MD14TOPA1009
3 292 657
24
79 023 768
403
0
557 512
1 456 363
222
GRAMA JSC
Chisinau municipality, Calea
Iesilor street, 10
MD14GRAM1004
151 762
10
1 517 620
270
0
0
-23 662
223
CTC-ALFA JSC
Chisinau municipality, Alba
Iulia street, 75
MD14ALFA1005
68 852
15
1 032 780
393
0
0
-601 378
224
SIGMA JSC
MD14 SIMA1001
3 789 285
10
37 892 850
1 805
0
381 334
-239 474
225
DIONYSOS JSC
MD14DION1001
689 148
10
6 891 480
67
0
51 017
-8 850 293
226
SECA-CARTEA JSC
Chisinau municipality,
Decebal street, 99
Anenii Noi district, Merenii
Noi village, Stefan cel Mare
street, 9
Chisinau municipality, Stefan
cel Mare boulevard, 180
MD14CATE1006
201 924
20
4 038 480
64
1 009 620
0
908 279
227
ASPA JSC
MD14ASPA1006
1 335 900
10
13 359 000
357
0
819
4 078 543
228
REPARAŢII AUTO JSC
Orhei city,
Stejarilor street, 16
Orhei district,
Peresecina village, M.
Eminescu street, 15
MD14EPAR1003
316 515
10
3 165 150
260
0
820
-398 049
211
212
213
166
229
CONSINDAL JSC
MD14COSD1002
86 222
10
862 220
1 187
0
0
-178 224
230
UTLAPCAR JSC
MD14UTLA1005
308 726
10
3 087 260
351
0
0
-148 389
231
TOCUŞOR JSC
MD14TOCU1000
81 207
20
1 624 140
520
0
0
-16 941
232
PISCICOLA GURA BÎCULUI
JSC
Anenii Noi district,
Gura Bîcului village
MD14GUAR1004
133 400
10
1 334 000
181
0
0
-283 204
233
UNGHENI-VIN JSC
Ungheni city,
Industrala street, 3A
MD14UVIN1001
877 639
10
8 776 390
11 695
0
2 240
837 504
234
HIDROCONSTRUCTOR JSC
Orhei district,
Pelivan village
MD14HIDO1007
114 748
10
1 147 480
73
0
916
-508 403
235
PRESTĂRI SERVICII JSC
Criuleni city,
31 august street, 90
MD14SECR1008
659 349
1
659 349
746
0
1 044
-40 228
236
FABRICA DE MATERIALE
DE CONSTRUCȚII DIN
STRĂȘENI JSC
MD14FATE1003
379 807
10
3 798 070
680
0
0
-276 560
237
CONMEC JSC
MD14CONM1006
229 948
10
2 299 480
341
175
-280 426
238
STEJAUR JSC
MD14STEJ1009
134 754
0
16 514 400
1 798
0
4 030
-332 590
239
SUCCIN
MD14CZOM1002
750 612
5
3 753 060
444
0
0
13 540 317
240
ARIA JSC
MD14CPRA1005
20 000
100
2 000 000
1
36 034
0
72 068
241
UNIC JSC
Chisinau municipality, Stefan
cel Mare street, 8
MD14UNIC1004
79 782
115
9 174 930
627
4 891 427
9 140
7 285 403
242
ELIRI JSC
Chisinau municipality, Miron
Costin street, 5
MD14ELIR1009
348 264
10
3 482 640
1 280
122 487
12 533
201 841
243
ABC JSC
Chisinau municipality, Sfatul
Tarii street, 14
MD14FIRM1007
700 000
1
700 000
452
0
5 495
-613 977
244
ARTIMA JSC
Chisinau municipality, Iesilor
steet, 6
MD14ARTI1005
1 684 994
4
6 739 976
893
364 453
0
511 053
245
ANGROBĂCĂNIE JSC
Chisinau municipality,
Petricani street, 21/2
MD14BACA1000
444 520
15
6 667 800
75
3 556 160
0
3 398 309
246
C.I. INTERPARES PRIM
JSC
Chisinau municipality, Matei
Basarab street, 2a
MD14ASIP1008
55 890 800
1
55 890 800
213 807
1 673 669
10 025
2 550 018
JSC
Chisinau municipality,
Alexandru cel Bun street, 49
Chisinau municipality,
M. Dragan street, 17
Chisinau municipality,
Academiei street, 15
Straseni city,
Chisinaului road
Chisinau municipality,
Alexandru cel bun street, 97
Chisinau municipality,
M. Dragan street, 11/1
Chisinau munipality,
Podgoreni street,4
Chisinau munipality,
Alba Iulia street, 75G, of. 904
167
247
INCOMAŞ JSC
Chisinau municipality,
Transnistria street, 16/1
MD14INCM1004
576 066
15
8 640 990
253
432 050
4 288
-1 378 211
248
COVOARE-UNGHENI JSC
Unhgeni city,
O. Ungureanu street, 2
MD14COUN1006
2 632 762
10
26 327 620
2 726
750 000
0
317 256
249
ORLACT JSC
Orhei city,
Boris Glavan street, 3
MD14ORLA1005
185 519
10
1 855 190
817
0
6 883
356 124
250
UNIVERSCOM JSC
Chisinau municipality,
Petricani street, 21/3
MD14SCOM1001
475 544
10
4 755 440
189
2 110 087
4 575
1 863 366
251
INDMONTAJ JSC
Chisinau municipality,
Sarmizegetusa street, 92
MD14INMJ1007
91 560
10
915 607
136
0
9 724
336 012
252
SPERANŢA - MD JSC
Ungheni city,
Nationala street, 17
MD14TAMD1005
120 685
10
1 206 850
164
0
0
-595 168
253
DAAC Hermes Grup JSC
Chisinau municipality,
Calea Iesilor street, 10
MD14MARS1000
72 675 153
1
72 675 153
90 459
0
752
4 014 032
254
CONSAM JSC
Chisinau municipality,
Industriala street, 75
MD14OJSCM1003
6 817 464
1
6 817 464
1 288
0
2 584
41 991
255
IONEL JSC
MD14NELI1003
9 645 588
2
19 291 176
10 989
1 157 470
601 383
2 636 294
MD14COBI1006
559 942
6
3 359 652
318
0
1 537
-898 959
MD14DIRE1009
131 567
10
1 315 670
307
0
0
-359 403
MD14ABIA1004
2 178 716
1
2 178 716
3 019
0
29 200
-1 420 603
MD14PRES1003
190 860
24
4 580 640
116
1 000 186
22 288 394
22 527 068
MD14RUMD1003
176 338
10
1 763 380
137
0
681
-447 819
MD14VIIO1006
73 118
50
3 655 900
1 955
0
10 948
-101 783
MD14VIRE1007
378 840
10
3 788 400
807
0
127
-347 767
MD14CARO2004
39 000
150
5 850 000
1
1 198 072
11 348
1 487 442
MD14COAN1000
250 000
10
2 500 000
141
0
0
185 654
MD14AVTE1003
5 006 084
1
5 006 084
242
0
227 931
1 424 727
256
257
258
259
260
261
262
263
264
265
Chisinau municipality,
Bulgara street, 47
Chisinau municipality,
COMBUSTIBIL SOLID JSC
V. Alecsandri street, 78
Chisinau municipality, Lunca
DIRECOM JSC
Bicului street, 29
Orhei city,
BASARABIA JSC
Unirii street, 128
Durlesti city,
MOLDPRESA JSC
Stefan Voda street, 3
Orhei city,
DRUM-2 JSC
Eliberarii street, 162
FABRICA DE MOBILĂ
Chisinau municipality,
VIITORUL JSC
A. Botezatu street, 13
Nisporeni city,
DESERVIRE ORHEI JSC
Gr. Adam street,7
Chisinau municipality, Dacia
AEROPORT-CATERING JSC
boulevard, 80/3
Nisporeni city,
CODREANCA JSC
Gr. Adam street,7
Chisinau municipality, Dacia
AVIATEHNOLOGIE JSC
boulevard, 49/6
168
266
FULGER-ST JSC
267
ZIDARUL-SV JSC
268
NISTRU-OLĂNEŞTI JSC
269
UNIVERSAL JSC
270
CONSAT JSC
271
METALFEROS JSC
272
TDA JSC
273
CASA MOBILEI JSC
274
BAZA DE TRANSPORT
AUTO-37 JSC
275
CERAMICA UHGHENI JSC
276
EDILITATE JSC
277
AUTOMAT JSC
278
CENUŞĂREASA JSC
279
TITAN-OŢEL JSC
280
COLASS JSC
281
SPECTRUL JSC
282
GRĂDINA MOLDOVEI JSC
283
ANTICOR JSC
Chisinau municipality, Mircea
cel Batrin boulevard, 7
Chisinau municipality,
Columna street, 170
Stefan Voda district,
Olanesti village
Chisinau municipality, Zelinski
street, 7
Calarasi city, Constructorilor
street, 10
Chisinau municipality, Vatra,
Feroviarilor street, 1/3
Chisinau municipality,
Cuza Voda boulevard, 21
Chisinau municipality, Puskin
street, 58
Hincesti city,
Industrial street, 1
Ungheni city,
Ion Creanga street, 6
Chisinau municipality
M. Eminescu street,49
Chisinau municipality,
Columna street, 88
Chisinau municipality,
Cuza Voda street, 17/6
Chisinau municipality, Pruncul
Ion street, 2
Chisinau municipality,
Uzinelor street, 8
Chisinau municipality,
Feredeului street, 4
Chisinau municipality,
Banulescu Bodoni street, 28
Chisinau municipality, Durlesti
city, Tudor Vladimirescu street,
62/1
MD14FULR1002
1 629 140
2
3 258 280
1 613
0
0
868 928
MD14ZISV1001
259 090
14
3 627 260
129
0
0
-326 274
MD14NISO1004
68 452
10
684 520
809
136 904
0
75 384
MD14UNAL1001
1 340 479
1
1 340 479
1 104
0
0
921 451
MD14JSCTC1000
140 895
10
1 408 959
51
0
0
-14 044
MD14METF1009
359 042
10
3 590 420
342
76 140 960
7 586
61 738 042
MD14TDAC1007
677 708
8
5 421 664
524
182 365
1 414
349 426
MD14CMOB1000
144 039
20
2 880 780
252
18 460
4 851
4 791
MD14ZADE1007
225 177
10
2 251 770
267
0
0
-755 075
MD14CUNG1006
76 369
10
763 690
333
0
0
20 064
MD14EDIL1005
519 089
10
5 190 890
3 264
0
9 714
-3 591 789
MD14AUTM1004
89 505
10
895 050
346
0
114
2 400 226
MD14CENU1008
1 849 059
5
9 245 295
468
0
0
697 960
MD14TITA1003
47 223
100
4 722 300
135
0
0
180
MD14COLS1002
1 156 731
10
11 567 310
292
0
1 917
-195 312
MD14PECT1009
89 403
14
1 251 642
2 853
0
0
-74 660
MD14MMLL1009
128 827
10
1 288 270
1 389
0
0
-40 672
MD14ANTO1001
38 977
55
2 143 735
104
0
8 758
-27 780
169
284
285
286
287
288
289
290
291
292
293
Chisinau municipality,
Burebista stret, 66/2
SERVICE-AGRO-CĂLĂRAŞI Calarasi city
JSC
Ion Creanga street, 1
Chisinau municipality, Dacia
DACIA-LV JSC
boulevard, 35
LUCEAFĂRUL-SERVICE
Chisinau municipality, Alba
JSC
Iulia street, 206
Straseni city,
DRUMURI-STRĂŞENI JSC
Orheiului street, 1
Ghidighici village, Mateevici
GHIDIGHICI-VIN JSC
street, 4
Hincesti city,
FREGATA JSC
Industriala street, 24
Chisinau municipality,
BICOTRA JSC
Columna street, 170
Telenesti city,
POLIGRAFIST JSC
Renasterii street, 57
Balti municipality,
AGROPROD JSC
Calea Iesilor street, 186
REGMONT JSC
MD14REGM1000
99 981
9
899 829
646
0
0
-2 602
MD14CALA1008
54 450
10
544 500
528
0
0
-15 896
MD14DACA1008
256 587
15
3 848 805
989
0
34 313
-1 715 465
MD14LUCF1009
303 302
10
3 033 020
87
0
0
768 215
MD14STRD1004
943 349
10
9 433 490
36
61 747
0
27 447
MD14GVIN1009
776 460
10
7 764 600
546
0
0
-34 389
MD14FREG1009
925 545
1
925 545
97
0
0
-185 383
MD14BICO1006
31 635
20
632 700
99
0
0
-74 640
MD14POLI1009
80 000
10
800 000
210
0
- 57 005
MD14PROD1008
4 248 128
1
4 248 128
535
52 894
39 122
164 164
294
SINGUREANCA JSC
Riscani district,
Singureni village
MD14GURE1000
103 738
5
518 693
963
0
802 080
295
MARIUŢA JSC
Ocnita district,
Valcinet village
MD14RIUA1002
114 206
10
1 142 060
426
9 140
- 47 663
296
LACTIS JSC
Riscani city,
Komarov street, 73
MD14LACT1007
638 000
10
6 380 000
201
0
- 67 347
297
DRUMURI-EDINEŢ JSC
Edinet city,
Independentei street, 179
MD14EDUM1008
891 015
10
8 910 150
398
7 210
78 207
298
CALCAR JSC
Briceni district,
Beleavinti village
MD14CALC1006
30 707
50
1 535 350
142
74 440
239 277
299
BRISCCO JSC
Briceni city, Constructorilor
street, 1
MD14BRIS1005
34 862
35
1 220 170
251
1 170
- 21 209
300
DRUMURI-RÎŞCANI JSC
Riscani city,
Independentei street, 3
MD14UMRD1003
755 919
10
7 559 190
81
1 057
17 604
301
AVICOLA JSC
Riscani district,
Corlateni village
MD14AVCO1000
566 906
10
5 669 060
117
0
2 452 702
302
ARGON-SIGMA JSC
Riscani city,
Independentei street, 168
MD14AGON1006
52 302
10
523 020
191
0
138 343
31 729
7 381
170
303
BAZA DE TRANSPORT
AUTO - 17 JSC
Riscani city,
I.Neculce street, 2 a
MD14BTAR1002
113 239
10
1 132 390
343
0
- 270 823
304
AGRO-FORTUS JSC
Riscani city, Independentei
street, 147
MD14AGFO1006
325 877
10
3 258 770
85
0
- 79 471
305
UZINA EXPERIMENTALĂ
"REZONANŢA" JSC
Ocnita district,
Otaci city, str.Voitovici, 19
MD14REOT1003
351 339
10
3 513 390
909
1 927
- 1 079 386
306
INCUBATOR JSC
Ocnita district,
Paustova village
MD14INBT1008
17 768
30
533 040
154
0
- 49 613
307
UZINA MECANIZATĂ DE
STANTARE DIN
OR.OCNIŢA "FITING" JSC
Ocnita city,
Livezilor street, 31
MD14FINT1004
455 733
20
9 114 660
12 249
127 982
476 635
308
APROMAŞ JSC
Edinet city,
Independentei street, 101
MD14APRO1001
845 932
10
8 459 320
1 633
0
- 103 668
309
MINA DIN CUPCINI JSC
Edinet district,
Cupcini city
MD14MINA1006
326 777
10
3 267 770
590
1 400
- 593 232
310
VOLAN JSC
Edinet city,
Independentei street, 228
MD14OLAN1009
53 262
30
1 597 860
52
14 706
- 563 255
Telenesti district,
Banesti village
MD14AVIN1005
701824
108000
10
5
7 558 240
255
0
655 641
Telenesti district,
Brinzenii Noi village
MD14BRNO1002
380 919
10
3 809 190
75
0
- 89 734
CEREALE-CUPCINI JSC
Telenesti district,
Banesti village
MD14CUPC1008
1 493 033
10
14 930 330
25 769
8 209
- 100 272
FABRICA DE VINURI DIN
SÎNGEREI JSC
CONSTRUCŢIA-MODERN
JSC
Singerei city, Independentei
street, 37
MD14GERE1000
424 089
20
8 481 780
971
13 292
212 862
Singerei city, Independentei
street, 1
MD14SING1004
1 729 880
1
1 729 880
231
0
- 142 709
316
VAST-PROTECT JSC
Singerei city, Independentei
street, 124 "a"
MD14TILI1003
2 400 392
1
2 400 392
99
0
- 577 573
317
ZIDARUL-NORD
Riscani district,
Costesti city, Florilor street, 1
MD14ZINO1005
59 037
10
590 370
103
0
- 80 084
318
PEŞTE JSC
Singerei district, Chiscareni
village
MD14PESI1004
1 182 197
1
1 182 200
136
0
22 117
ÎNTREPRINDEREA
PISCICOLĂ "VICTORIA"
JSC
ÎNTREPRINDEREA DE
PRODUCERE, ACHIZIŢIE ŞI
Edinet city,
V. Rosca street, 215
MD14VICO1002
127 852
10
1 278 520
139
1 975
- 335 373
Singerei district,
Biruinta city
MD14GROS1002
113 240
25
2 831 000
240
0
- 35 984
311
312
313
314
315
319
320
AVICOLA DIN BĂNEŞTI
JSC
AVICOLA DIN BRÎNZENII
NOI JSC
153 173
171
REALIZARE A PRODUCŢIEI
AGRICOLE "AGROSERV"
JSC
321
322
323
324
CARNEVARUS JSC
Singerei district, MindrestiiNoi village
MD14CARN1007
30 210
100
3 021 000
169
0
- 1 191 691
BAZA TRANSPORTULUI
AUTO NR.35 JSC
PARCUL DE AUTOBUSE ŞI
TAXIMETRE NR.5 DIN
OR.OTACI JSC
ÎNTREPRINDEREA PENTRU
COLECTAREA
CEREALELOR DIN REDIU
MARE JSC
Singerei city,
1 Mai street, 27
MD14BZAS1003
108 322
10
1 083 220
173
124
- 236 384
Ocnita district,
Otaci city, Stefan cel Mare
street, 164
MD14PARC1005
116 450
10
1 164 500
67
0
- 130 306
MD14REDI1009
164 169
10
1 641 690
164
2 200
- 974 936
MD14NOTU1007
1 687 929
18
30 382 722
134
0
- 502 094
Ocnita district,
Rediu Mare village
Edinet district,
Cupcini city, Chisinaului
street, 37
325
NORDTUTUN JSC
326
COMBINATUL DE PÎINE
DIN BĂLŢI JSC
Balti municipality,
Stefan cel Mare street, 111B
MD14COPB1007
2 508 043
9
22 572 387
294
31 219
635 315
327
INTEGRAL JSC
Briceni city,
Carpisin street, 14
MD14INTG1003
282 440
10
2 824 400
625
0
- 484 163
328
COMBINATUL AUTO NR.1
JSC
Balti municipality,
Stefan cel Mare street, 125
MD14BCOM1000
463 956
10
4 639 560
460
0
- 150 615
329
DRUMURI-BRICENI JSC
Briceni city,
Frunze street, 18
MD14DRBI1002
82 102
10
821 020
64
6 299
- 267 866
ÎNTREPRINDEREA DE
COLECTARE A
CEREALELOR DIN LIPCANI
JSC
BAZA DE TRANSPORT
AUTO NR.12 JSC
Briceni district,
Lipcani city, Gorkii street,
100
MD14LIPC1003
1 181 473
10
11 814 730
142
1 197
- 1 836 530
Edinet city,
Independentei street, 19
Edinet district,
Cupcini city, Renasterii
street, 1
Edinet district,
Cupcini city, Chisinaului
street, 45
MD14BTAE1007
122 599
10
1 225 990
142
2 141
- 358 417
MD14RANA1009
70 191
10
701 910
282
502
14 055
MD14NLAC1003
4 684 420
5
23 422 100
990
4 192
- 9 505 470
MD14FVLE1006
196 394
10
1 963 940
85
5 000
3 131
330
331
332
MECGRATO JSC
333
INLAC JSC
334
FABRICA DE VINURI DIN
LEUŞENI JSC
Telenesti district,
Leuseni village
172
335
REPDESTEH JSC
336
ÎNTREPRINDEREA
SPECIALIZATĂ DE
REPARAŢII DIN EDINEŢ
JSC
Telenesti city,
8 Martie street, 44
MD14REPH1006
92 213
10
922 130
193
0
- 31 131
MD14ISRE1004
114 053
15
1 710 795
57
0
14 261
Briceni city,
Uzinelor street, 30
MD14ZABR1004
6 876 141
10
68 761 410
37 324
0
- 1 011 345
Balti municipality, Decebal
street, 130
Ocnita district,
Otaci city, Prieteniei street,
91
MD14PRID1006
136 490
10
1 364 900
154
0
4 085
MD14ELES1002
54 643
10
546 430
377
0
- 52 917
Edinet city,
M.Eminescu street, 18
337
NORD-ZAHĂR JSC
338
ÎNTREPRINDEREA DE
TRANSPORT Nr.8 or.BĂLŢI
JSC
339
ELEGANT-STIL JSC
340
GLODENI-REPARAŢIE JSC
Glodeni city,
Gonta street, 13
MD14LODE1007
31 075
60
1 864 500
367
0
- 263 781
341
BASARABIA-NORD JSC
Balti municipality, Victoriei
boulevard, 90 "a"
MD14BARS1003
823 735
20
16 474 700
1 796
17 087 862
- 25 177 646
342
FERTILITATE-BAS JSC
Telenesti district,
Ratus village
MD14AFRI1009
177 206
10
1 772 060
180
0
- 786
343
VITA-NOVA JSC
Ocnita city,
Industriala street, 13
MA14VNOV1002
151 213
11
1 663 343
98
1 250
- 34 298
344
MACONRUT JSC
Edinet city,
Independentei street, 18
MD14MRUT1005
427 932
6
2 567 592
171
2 429
2 053 473
345
ENERGO-MEDIA-GRUP JSC
Balti municipality,
Stefan cel Mare street, 152
MD14ENGI1000
40 841
15
612 615
213
0
501 104
346
ÎNTREPRINDEREA DE
TRANSPORT NR.7 OR.
BĂLŢI JSC
MD14PRIN1004
136 398
10
1 363 980
263
16 221
- 513 244
347
FLOAREA SOARELUI JSC
Balti municipality,
31 August street, 6
MD14FLAU1001
744 978
20
14 899 560
1 352
211 573
- 26 192 270
348
SERVICE AUTO PRIM JSC
Balti municipality, Heciului
street, 2
MD14SEAU1005
108 233
23
2 489 360
342
0
484 638
349
BĂLŢMETREUT JSC
MD14BELR1006
92 510
10
925 100
1 002
5 524
141 499
MD14RACO1006
65 742
10
657 420
84
0
- 19 116
MD14BAUT1007
893 594
1
893 594
78
262
- 101 147
350
351
Balti municipality,
Calea Iesilor street, 184
Balti municipality, B.Glavan
street
Telenesti city,
RAPID-CONSTRUCȚIA JSC
Dacia street, 20
Balti municipality,
AUTOMOBILIST-BĂLŢI JSC
Sofiei street, 27
173
352
353
354
BARZA ALBĂ JSC
ÎNTREPRINDEREA MIXTĂ
„BĂLŢEANCA” JSC
COMBINATUL DE
PRELUCRARE A
LEMNULUI JSC
355
MOLDAGROTEHNICA JSC
356
INCOMLAC JSC
357
PARCUL DE AUTOBUZE
DIN BĂLŢI JSC
358
AVICOLA-NORD JSC
359
360
UZINA CONSTRUCTOARE
DE MAŞINI PRUT-80 JSC
FABRICA DE BRÎNZETURI
DIN SOROCA JSC
361
UNIVERJSCLCHIM JSC
362
FABRICA DE CONSERVE
DIN GLODENI JSC
363
RADA JSC
364
INSTITUTUL DE
CERCETĂRI ŞTIINŢIFICE
"RIF-ACVAAPARAT" JSC
365
REAL-INVEST JSC
366
UZINA BIOCHIMICĂ DIN
BĂLŢI JSC
367
ZIMBRU-NORD JSC
368
RĂUT JSC
369
MOARA JSC
Balti municipality,
Victoriei street, 49
Balti municipality,
Pacii street, 5
Balti municipality,
Stefan cel Mare street, 170
Balti municipality, Industriala
street, 4
Balti municipality,
Calea Iesilor street, 180
Balti municipality,
Dragomir street, 4
Falesti city,
Eminescu street, 64
Falesti district,
Falesti Noi village
Soroca city,
Stefan cel Mare street, 133
Balti municipality,
31 August street, 41
Soroca city,
Stefan cel Mare street, 133
Balti municipality, Eminescu
boulevard, 12
Balti municipality,
Decebal street, 9
Balti municipality,
Independentei street, 33
Balti municipality, Victoriei
street, 57
Balti municipality,
Calea Iesilor street, 186
Balti municipality,
Decebal street, 13
Balti municipality,
Sorocii street, 19
MD14BARZ1004
1 355 350
100
135 535 000
1
2 288 392
421 876
5 324 427
MD14BALT1008
3 699 480
7
25 896 360
2 663
1 396
0
630 431
MD14CPLB1000
3 836 322
1
3 836 322
184
0
- 280 383
MD14ROTE1003
27 162 708
1
27 162 708
242
9 105
4 017 638
MD14COML1008
644 045
50
32 202 250
316
0
30 712 001
MD14PAUT1001
459 677
11
5 056 447
1 601
7 885
912 337
MD14FALE1001
2699172
1
2699172
284
0
0
40 840
MD14PRUU1009
1 006 184
10
10061840
530
-
0
- 1 086 652
MD14SORO1002
13 133 785
10
131 337 850
212
-
6 156
- 3 035 906
MD14NIVE1001
655 293
1
655 293
280
-
0
50 951
MD14RICA1004
2 052 132
10
20 521 320
639
-
0
- 417 409
MD14RADA1001
918 761
10
9 187 610
1 920
-
0
- 5 069 402
MD14RIFA1001
384 139
5
1 920 695
4
311 969
0
14 123 194
MD14REIN1007
22 712 281
Without
VN
29 587 620
38 969
-
0
- 88 476
MD14BIOC1006
241 489
15
3 622 335
150
-
7 579
98 573
MD14ZIMB1001
209 011
15
3 135 165
396
-
1 147
5 748 636
MD14ARTU1009
7 046 577
7
49 326 039
16 141
217 043
54 004
592 450
MD14MOAR1004
153 282
10
1 532 826
841
-
0
- 5 568
5 095 724
174
370
MIOARA JSC
371
MAGISTRALA JSC
372
INTERMEDIAR JSC
373
ELECTROTEHNICA JSC
374
CONSTRUCTORUL JSC
375
ACVA-BĂLŢI JSC
376
CLARITATE JSC
377
DRUMURI-BĂLŢI JSC
378
UZINA DE MAŞINI DE
SALUBRITATE DIN
FĂLEŞTI JSC
379
DESERVIRE JSC
380
BEERMASTER JSC
381
382
383
384
COMBINATUL DE
COLECTARE ŞI
PRELUCRARE A
CEREALELOR DIN FĂLEŞTI
JSC
ÎNTREPRINDEREA DE
CONSTRUCŢII ŞI MONTAJ
NR.2 FĂLEŞTI JSC
ÎNTREPRINDEREA
SPECIALIZATĂ DE
REPARAŢIE A TEHNICII
DIN FĂLEŞTI JSC
ÎNTREPRINDEREA DE
TRANSPORT AUTO DIN
FĂLEŞTI JSC
Balti municipality, V.Alexandri
street, 2
Balti municipality,
31 August street, 20 "b"
Balti municipality,
Victoriei street, 51
Balti city,
Stefan cel Mare street, 160
Balti municipality, M.Viteazul
street, 6
Balti municipality,
Stefan cel Mare street, 137 "a"
Balti municipality,
Sf. Nicolae street, 3
Balti municipality,
Decebal street, 133
MD14MIOA1005
2 901 467
5
14 507 335
1 799
-
0
- 425 675
MD14MAGI1005
1 925 958
5
9 629 790
205
-
22 451
389 191
MD14IMDR1009
587 012
1
587 012
150
-
0
231 987
MD14ETEH1007
605 546
10
6 055 460
265
-
0
- 876 360
MD14CONB1009
658 501
30
19 755 050
2 071
-
836
2 230 371
MD14AVVA1003
2 074 340
1
2 074 340
214
-
0
- 22 716
MD14CLAR1009
3 901 235
1
3 901 235
1 923
-
21 816
734 700
MD14DRMB1006
886 356
10
8 863 560
189
466 121
262
475 779
MD14JSCLU1006
15 435 775
1
15 435 775
76
142 629
0
- 941 369
MD14DESV1001
89 545
10
895 450
325
-
0
- 203 926
MD14BEMA1004
142 696
9
1 284 264
4 706
-
12 168
6 259 818
Falesti city,
Bogdan Voda street, 31
MD14COMF1006
2 584 918
1
2 584 918
133
-
5 825
518 754
Falesti city,
Chisinaului street, 2
MD14ONAJ1003
572 792
1
572 792
217
-
0
- 50 567
Falesti city,
Victoriei street, 4
MD14ISRT1005
214 001
10
2 140 014
265
-
0
- 66 724
Falesti city,
Ungheni street, 5
MD14ITTA1003
1 778 685
1
1 778 685
254
-
0
22 318
Falesti city,
M.Eminescu street, 61
Balti municipality,
Independentei street, 33
Balti municipality, Sadoveanu
street, 35
175
385
CARIERA DE GRANIT ŞI
PIETRIŞ DIN SOROCA JSC
386
PISCICOL-NORD JSC
387
388
389
390
391
392
393
394
395
396
397
398
399
400
401
Soroca city,
Cosautilor street, 4
Floresti city,
Florilor street, 40
Floresti city,
M.Eminescu street, 194
Floresti city,
V.Lupu street, 82
FABRICA DE UNT DIN
FLOREŞTI JSC
UZINA DE UTILAJ
TERMOTEHNIC JSC
BAZA DE TRANSPORT
Floresti city,
AUTO NR.14 OR. FLOREŞTI
Feroviarilor street, 33
JSC
Floresti district,
MĂRCULEŞTI-COMBI JSC
Marculesti village
Floresti city,
FLOREŞTEANCA JSC
Stefan cel Mare street, 69 "a"
FABRICA DE
Floresti city,
FERMENTARE A
M.Eminescu street, 194
TUTUNULUI FLOREŞTI JSC
BAZA DE TRANSPORT
Soldanesti city,
AUTO-29 JSC
31 August street, 47
FABRICA DE
FERMENTARE A
Soldanesti district,
TUTUNULUI DIN
Regiei street, 77
ŞOLDĂNEŞTI JSC
Soroca city,
ALFA-NISTRU JSC
Stefan cel Mare street, 131
Soroca city,
ITA-SERVIS JSC
Uzinelor street, 2
Soroca city,
HIDROINPEX JSC
V.Stroescu street, 118 "a"
PARCUL DE AUTOBUZE ŞI Soroca city,
TAXIMETRE NR.7 JSC
Cosautiilor street, 11
Soroca city,
DANA JSC
Independentei street, 75
BAZA DE TRANSPORT
Donduseni city,
AUTO NR.9 DIN
Stefan cel Mare street, 1
DONDUŞENI JSC
ÎNTREPRINDEREA DE
Donduseni district,
REPARAŢIE ŞI
Corbu village
MD14CARE1008
2 023 951
9
18 215 559
1 018
-
2 639
- 5 277 152
MD14PCOL1005
179 348
5
896 740
152
-
0
- 183 356
MD14FUDF1006
90 898
50
4 544 900
157
-
27 165
1 645 012
MD14UZTE1005
125 011
10
1 250 110
78
49 038
7 100
91 338
MD14BAZA1003
71 041
15
1 065 615
655
-
2 125
60 808
MD14MAUR1006
1 788 480
10
17 884 800
961
-
0
131 747
MD14CONF1005
32 436
24
778 464
378
-
0
- 47 215
MD14FANU1009
2 132 078
10
21 320 780
376
-
7 901
- 267 307
MD14PORT1000
157 806
7
1 104 642
205
-
0
7 486
MD14TUTF1002
661 280
20
13 225 603
328
-
1 797
- 1 916 282
MD14ALNI1007
127 622
10
1 276 220
334
1 467 653
10 215
21 134 926
MD14ATSE1008
108 625
10
1 086 250
544
-
0
- 1 429
MD14INPE1009
572 070
20
11 441 400
570
-
12 139
892 988
MD14PATA1005
113 643
35
3 977 505
292
-
0
56 428
MD14DANA1005
165 179
25
4 129 475
273
-
0
23 170
MD14DONU1005
328 768
10
3 287 680
358
-
2 208
- 206 102
MD14TEHD1008
47 613
17
809 421
52
-
0
7
176
DESERVIREA TEHNICII JSC
402
HOLDA ARGINTIE JSC
403
SUDZUCKER MOLDOVA
JSC
404
NORD-MOBILĂ JSC
405
406
407
408
409
410
411
412
413
414
415
416
Drochia city,
Prieteniei street, 14
Drochia city,
27 August street, 1
Drochia city,
31 August street, 33
Drochia city,
Bretela de circulatie street, 1
COLOANA MOBILĂ
MECANIZATĂ NR.28 JSC
FABRICA DE PRELUCRARE
Falesti discrit,
A SEMINȚELOR DE
Rautel village
PORUMB DIN RĂUȚEL JSC
Falesti city,
SMA-FERTILITATE JSC
Eminescu street, 67
Falesti city,
MOLD-NORD JSC
Stefan cel Mare street, 1
FABRICA DE
Falesti city,
FERMENTARE A
Gagarin street, 5
TUTUNULUI FĂLEŞTI JSC
BAZA DE TRANSPORT
Glodeni city,
AUTO NR.27 JSC
M.Eminescu street, 19
UTA Gagauzia,
AUR ALB JSC
Ceadir-Lunga city, Bugeacului
street, 24/А
UTA Gagauzia,
AVICOLA VULCĂNEŞTI
Vulcanesti city, Lenin street,
JSC
191
UTA Gagauzia,
AVIS-PRIM JSC
Comrat municipality, Lenin
street, 1
UTA Gagauzia,
BAZA DE TRANSPORT
Ceadir-Lunga city,
AUTO-24 JSC
Avtomobilistov street, 8
UTA Gagauzia,
BETACON JSC
Comrat municipality, Lenin
street, 2
UTA Gagauzia,
BUDJAC IOLLARÎ JSC
Vulcanesti city, 40 ani
Octombrie street, 54
MD14ARHL1004
278 363
5
1 391 815
151
-
4 500
- 1 556 009
MD14ROZA1009
10 916 660
10
109 166 600
6 902
36 657 524
352 978
75 415 871
MD14DMOB1009
1 268 866
8
10 150 928
908
-
0
4 821
MD14CMMD1000
57 979
9
521 811
121
-
1 696
8 892
MD14UTEL1001
1 347 059
5
6 735 295
2 009
-
53 794
- 903 075
MD14TILF1006
2 573 407
1
2 573 407
503
-
0
- 35 113
MD14MDND1008
2 033 300
20
40 666 000
694
-
341 050
1 247 517
MD14FTAU1003
1 467 032
17
24 939 544
261
-
0
- 626 435
MD14BTAB1000
119 749
10
1 197 490
987
-
1 500
- 93 192
MD14ALBU1005
3 417 100
4
13 668 400
1 309
63 174
475 451
MD14COVU1006
1 117 415
5
5 587 077
226
57 256
MD14AVIP1003
837 519
7
5 862 638
163
-13 604
MD14ATRB1002
117 515
10
1 175 149
153
MD14NOCA1000
611 364
5
3 056 820
97
333 667
MD14BUDJ1006
60 395
16
966 320
55
1 828
7 880
-231 659
177
UTA Găgăuzia,
Comrat, Lenin, street, 5
417
CDC JSC
0
418
CEADÎR-PETROL JSC
UTA Gagauzia, Ceadir-Lunga
city, Bugeacului street, 17
MD14CEAD1004
137 171
10
1 371 712
81
419
CENTRUL-TEHNICCEADÎR-LUNGA JSC
UTA Gagauzia, Ceadir-Lunga
city, Iubileinaia street, 38
MD14CETH1009
133 058
20
2 661 160
133
420
CIOC-MAIDAN-VIN JSC
MD14CIOC1005
114 386
10
1 143 860
323
771 837
421
COMPANIA BUGEAC JSC
UTA Gagauzia, Ceadir-Lunga
city, Iubileinaia street, 38
UTA Găgăuzia,
Vulcăneşti city,
Iuri Gagarin street, 62
422
FERTILITATEA-COMRAT
JSC
МD14FERC1003
142 760
7
999 320
87
-12 534
423
GARANT-AUTO JSC
МD14GARN1003
81 246
7
568 722
384
7 750
424
IAHNÎ JSC
MD14IAHN1003
1 277 518
10
12 775 180
873
-255 186
425
INLAV JSC
426
Î.M. KAZAYAK-VIN JSC
427
KILIM JSC
428
MECONS-COMRAT JSC
429
SCOP JSC
430
BTA-2 "TIMPUL" JSC
431
TOMAI-VINEX JSC
432
USTA JSC
UTA Gagauzia,
Etulia village
UTA Gagauzia,
Comrat municipality,
Tankistilor street, 1
UTA Găgăuzia,
Ceadîr-Lunga city,
Dzerjinski street, 3
Vulcaneşti city,
Comsomoliscaia street,42
UTA Gagauzia,
Cazaclia village,
Lenin street, 2
UTA Gagauzia,
Comrat municipality, Pobedi
street, 58
UTA Gagauzia,
Ceadir-Lunga city,
Lenin street, 156
UTA Gagauzia,
Vulcanesti city, 40 ani
Octombrie street, 54
UTA Gagauzia,
Comrat municipality,
Ferapontievscaia street, 1
UTA Gagauzia,
Congaz village, Lenin street,
249
UTA Gagauzia,
Ceadir-Lunga city,
Bugeacului street, 23
235512,66
728
12 740
2 150
-1 527 711
0
0
MD14ZANY1001
23 725 496
1
23 725 496
2 042
5 218
66 634
MD14KILM1006
270 256
5
1 351 280
347
7 418
-115 758
657
244 207
0
MD14SCOP1008
54 650
10
546 500
586
MD14BTVU1002
17 935
50
896 750
70
MD14TVIN1004
953 867
10
9 538 674
1 698
656 948
1 219 665
MD14ATSU1008
11 933
50
596 650
99
1 500
8 389
16 420
178
433
434
435
436
437
438
439
440
441
442
443
444
445
446
447
448
449
450
UTA Gagauzia,
Comrat municipality,
Vinzavodskaia street, 1
UTA Gagauzia,
VINURI DE COMRAT JSC
Vulcanesti city, Vladimir
Korolenko street, 4
UTA Gagauzia,
VULCĂNEŞTI-PETROL JSC Ceadir-Lunga city,
Bugeacului street, 135
UTA Gagauzia,
YOL YAPÂGISÂ JSC
Cazaclia village,
Lenin street, 2
Cahul city,
TRICON JSC
St. Mare street, 20
Cahul city
ORIZONTUL-LUX JSC
Dunării street, 2a
CONSTRUCŢII RUTIERE
Cahul city,
JSC
M. Viteazu street, 21
Leova city,
LEOVIN JSC
Independentei street, 62
Taraclia city,
VOLAN-AUTOTRANS JSC
Vokzalinaia street, 28
Cahul city,
USBA JSC
Muncii street, 4
Leova district,
VINAR JSC
Sarateni village
Cantemir district
ÎM PRUT JSC
Cania village
Cahul city,
FERTILITATEA-SUD JSC
M. Viteazu street, 7
ELEVATORUL IARGARA
Iargara city,
JSC
31 August 1989 street, 3
Taraclia city,
CERAMICA-T JSC
Uzinelor street, 3
Cahul city,
AGROTEHNICA JSC
Veche street, 121
AUTOSERVICE ŞI COMERŢ Cimislia city,
JSC
N. Iorga street, 1
Cimislia city,
PLUGUŞOR-APC JSC
Burebista street, 1
UZINA EXSPERIMENTALĂ
din Ceadîr-Lunga JSC
MD14EXPE1001
35 111
33
1 158 660
65
-189 016
MD14VINU1001
1 562 571
6
9 375 426
1 011
MD14VULN1006
125 031
10
1 250 316
70
513
MD14YOLY1008
219 119
5
1 095 595
65
5 015
MD14TRIC1003
470 739
35
16 475 865
1 671
59 344
-3 286 452
MD14ZONT1002
196 745
5
983 725
200
1 186
-12 584
MD14CORC1004
181 547
8
1 452 376
88
2 877
-621 441
MD14LEVI1003
636 937
10
6 369 370
65
29 357
2 764 959
MD14VALA1009
343 135
10
3 431 350
1 188
MD 14USBA1008
2 169 320
10
21 693 200
318
1 720
-452 838
MD14VINA 1005
158 365
50
7 918 271
286
3 333
1 514 891
MD14PRUT1002
65 097
10
650 970
373
902
-5 806 452
MD14FERA1005
81 670
10
816 700
928
MD14ELIA1008
781 881
5
3 909 406
419
23 306
-633 000
MD14CERA1008
923 610
20
18 472 200
251
18 972
3 404
MD14AGTN1001
27 240
35
953 400
869
705
86 299
MD14COTR1005
91 967
15
1 379 512
119
42 715
MD14PLUG1003
331 071
10
3 310 710
260
-350 519
12 591
213 680
483 954
1 992 195
-70 583
179
451
452
453
454
455
456
457
458
459
460
461
462
463
464
465
466
467
468
Gavanoasa village,
Cahul district
Rosu district,
AQUA- PRUT JSC
Cahul district
Taraclia district,
LEGGORN JSC
Valea-Perjei village
FABRICA DE BRÎNZETURI Cahul city,
DIN CAHUL JSC
Pacii street, 3
Cahul city,
CEREALE CAHUL JSC
Zona Indutriala, 1
Cahul district,
FABRICA DE VINURI
Slobozia Mare village, Unirii
SLOBOZIA MARE JSC
street,1
Cimislia city,
DRUM-11 JSC
N. Iorga street, 110
Cahul city,
BERE-UNITANC JSC
Pacii street,22
CONSTRUCTORULCantemir city,
CANTEMIR JSC
B.Glavan street, 12
Cahul city,
INTEGRAL-AUTO JSC
DunArii street, 2
COMBINATUL DE VINURI Taraclia city,
DIN TARACLIA JSC
Vokzalinaia street
Cimislia district,
GALINULA JSC
Gura Galbinei village
Cimislia city,
DRUMURI-CIMIŞLIA JSC
N. Iorga street, 106
Cimislia district,
RTS-SPICUŞOR JSC
Mihailovca village, Stefan
Voda street, 16
BAZA DE TRANSPORT
Cahul city,
AUTO No.19 CAHUL JSC
M.Viteazu street,4
Cantemir district,
IMPERIAL-VIN JSC
Pleseni village
Cimislia city,
AVICOLA-CIMGALLUS JSC
Stefan cel Mare street, 1
PARCUL DE AUTOBUZE ŞI Cahul city,
TAXIMETRIE NR. 8 JSC
Fintanelor street, 23
ÎM VINIA TRAIAN JSC
MD14VITR1000
124 986
50
6 249 304
94
165 544
4 003 054
MD14AGUA1001
214 317
9
1 928 853
974
6 766
77 225
MD14LEGG1004
1 276 336
7
8 934 352
132
MD14RINZ1002
269 629
20
5 392 580
452
MD14CECA1005
957 110
10
9 571 100
271
2 751
258 313
MD14SLOM1000
465 938
10
4 659 380
1 400
6
131 543
MD14MURC1004
104 345
10
1 043 450
135
1 542
-384 665
MD14BERE1005
4 016 407
10
40 164 070
120
52 625
-880 159
MD14TEMI1006
71 214
9
640 926
267
2 221
-199 204
MD14GRAL1005
31 080
50
1 554 000
135
MD14COVI1002
1 623 377
10
16 233 765
1 813
MD14ALLA1007
446 124
10
4 461 240
302
MD14CIMD1006
897 880
10
8 978 800
54
MD14PRCU1002
83 986
10
839 860
132
-1 046 080
MD14BATR1002
184 796
10
1 847 960
110
-95 587
MD14IMPI1006
403 425
41
16 540 425
146
MD14CIMI1001
46 874
37
1 734 338
66
MD14PARL1004
89 852
10
898 520
419
-1 261 849
60 880
318 396
14 318
9 572
40 689
424 178
10 435
19 231
89 556
5 039
4 562 572
26 933
4 386
-695 765
180
469
470
471
472
473
474
475
476
477
478
479
480
481
482
483
484
485
486
Leova district,
Tomai village
Cimislia city,
REPCONCIM JSC
Cetatea Alba street, 10
BAZA DE TRANSPORT
Leova city,
AUTO-25 JSC
Cahulului road, 7
Cimislia district,
MĂRGĂRITAR JSC
Mihailovca village
Cimislia district,
JAVGURVIN JSC
Javgur village
Taraclia city,
TRANSSTROI JSC
Lenin street, 189
ORGINTERCONSTRUCŢIA Leova city,
JSC
M.Eminescu street, 20
Cimislia city,
SERVMEC JSC
Cetatea Alba street, 2
Cimislia district,
VINAR GLIA JSC
Fetita village
Cahul city,
CONCOM -MODERN JSC
Dunarii street, 1
Cahul city,
CAHULPAN JSC
Pacii street, 20
TIPOGRAFIA RAZA DE SUD Cahul city,
JSC
Frunze street, 62
COMBINATUL
MATERIALELOR DE
Cahul city,
CONSTRUCŢIE DIN CAHUL Muncii street, 1/A
JSC
Cahul city,
DRUMURI- CAHUL JSC
M. Viteazu street, 25
Taraclia district, Vinogradovca
CIUMAI JSC
village
Cahul city
VITAFRUCT JSC
Griviței street, 23
Cahul city,
MONTATOR JSC
Grivitei road, 16
Cimislia city,
AGROFIRMA CIMIŞLIA JSC
V. Alexandri street, 77
TOMAI-VIN JSC
MD14AMOI1004
205 029
10
2 050 298
651
-299 510
MD14REPC1001
292 445
6
1 754 670
29
MD14EOVA1008
32 467
20
649 340
251
-143 306
MD14MARI1002
29 110
50
1 455 500
434
-671 716
MD14JAVG1003
392 310
10
3 923 100
432
107 918
MD14TRAN1008
124 399
10
1 243 991
87
-30 364
MD14STSI1006
365 407
6
2 192 442
288
MD14SEME1001
257 128
10
2 571 280
652
MD14VGLI1001
120 536
10
1 205 360
415
MD14DERN1002
280 422
6
1 682 532
311
MD14LUPA1009
2 725 642
3
8 176 926
573
MD14DESU1002
56 434
10
564 340
145
-34 499
MD14TULA1005
418 306
10
4 183 060
82
-20 160
MD14CAHD1001
914 132
10
9 141 320
31
MD14CIUA1009
171 500
100
17 150 000
1 066
-1 265 385
MD14VIFU1001
67 224
25
1 680 613
683
-36 667
MD14TATO1005
64 829
17
1 102 090
123
500
-58 815
MD14LIAC1000
50 582
1000
50 582 000
1 416
55 479
1 848 695
1 030
3 000
-61 571
-223 685
-147 937
26 000
1 675 608
63 934
1 090 257
13 935
40 559
1 238
326 270
18 001
181
487
488
489
490
491
492
493
494
495
BAZA DE TRANSPORT
AUTO NR. 23 JSC
Taraclia city,
Vokzalinaia street, 41
Taraclia city,
AMELIORATORUL JSC
Vokzalinaia street, 91
Cahul district,
COMBICORN JSC
Moscovei village
Cimișlia district,
MĂRGĂRITAR JSC
Mihailovca village
FERTILITATEA CANTEMIR Cantemir city
JSC
Boris Glavan street, 11
Cahul district,
ÎM TRIFEŞTI JSC
Bucuria village
Cantemir district,
ÎM CEBA-VIN JSC
Ciobalaccia village
Cimislia district,
CEREALE-CIM JSC
Mihailovca village,
M.Eminescu street,1
FERTILITATEA TARACLIA Taraclia city,
JSC
Tolstoi street, 2
MD14BZST1002
55 870
10
558 705
163
2 167
107 478
MD14LIOR1007
185 126
10
1 851 260
13
620
-157 514
MD14CORM1002
71 333
14
998 660
79
-134 175
MD14RITA1005
159 544
10
1 595 440
243
-517 264
MD14LICA1000
246 636
3
739 908
658
-71 977
MD14RIFE1007
700 334
10
7 003 347
403
980
-308 741
MD14CEBA1006
383 313
10
3 833 130
1 604
1 368
-105 299
MD14CECI1007
177 295
10
1 772 950
451
478 343
MD14ARAC1002
64 200
10
642 000
57
-79 301
182
Annex No.17
The results of the economical and financial activity of MSE during 2013
Name of indicator
Statutory capital, MDL
Additional capital, MDL
Withdrawn capital, MDL
Unassigned profit (uncovered losses),
MDL
Equity, MDL
Revenues from sale, MDL
Sales costs, MDL
Gross profit (global loss), MDL
General and administrative expenses, MDL
Result from operational activity: profit
(loss), MDL
Result from investment activity: profit
(loss), MDL
Result from financial activity: profit (loss),
MDL
Net profit of reporting period (net loss),
MDL
2013 compared
to 2012, %
x
38,68
x
2012
500 000,00
77 075,00
(12820)
2013
500 000,00
199 255,00
-
785 798,00
3 675 053,00
2 476 568,00
1 004 693,00
1 471 875,00
836 251,00
1 217 510,00
4 873 765,00
3 217 806,00
1 178 578,00
2 039 228,00
986 885,00
64,54
75,40
76,96
85,25
72,18
84,74
656 183,00
1 119 634,00
58,61
21 837,00
34 624,00
63,07
70,00
792,00
8,84
631 702,00
1 063 712,00
59,39
Annex No.18
The results of the economical and financial activity of NSD during 2013
Name of indicator
Statutory capital, MDL
Additional capital, MDL
Withdrawn capital, MDL
Equity, MDL
Revenues from sale, MDL
Sales costs, MDL
Gross profit (global loss), MDL
General and administrative expenses, MDL
Result from operational activity: profit (loss),
MDL
Result from investment activity: profit (loss),
MDL
Result from financial activity: profit (loss),
MDL
Net profit of reporting period (net loss), MDL
2012
16 753
(133039)
858 714
626 374
278 529
347 845
489 107
2013
-60674
931079
825113
317594
507519
473026
2013 compared
to 2012, %
x
x
x
92,23
75,91
87,70
68,54
103,40
72365
149,53
16753
-
108 210
-
-
x
108 210
-
x
149,53
72365
183
Annex No. 19
The results of the economic and financial activity of non-banking broker/dealer companies at the end of 2013
Name of the broker
Oldex JSC
Proajioc JSC
DAAC-Invest JSC
S.V.M. „Iuventus-DS
JSC
Broking-VM JSC
Broker M-D JSC *
Fincom JSC *
F.B. „Brok-West JSC
*
Valinvest JSC *
Gest-Capital JSC *
Broker-Capital JSC *
TOTAL
221 855
1 547 358
313 962
Total
operational
expenditures
, MDL
551 687
600 630
519 764
Net operational
income (Net
operating loss),
MDL
-329 832
946 728
-205 802
120 000
106 296
406 953
-300 657
-73 208
729 420
5 763 284
3 392 888
120 000
240 000
247 500
323 742
489 152
369 020
413 263
445 084
727 223
-89 521
44 068
-358 203
237 126
627 537
-219 949
300 000
3 754 619
240 000
446 357
448 746
-2 389
36 012
80 000
2 866
000
900 000
5 775
000
3 179 713
245 000
739 366
428 835
310 531
1 170 058
9 246 409
240 538
241 732
613 464
-371 732
540 983
808 260
120 000
13 900
36 969
-23 069
-7 308
36 432 094
2 313 038
4 812 740
5 192 618
-379 878
3 073 216
Share
capital,
MDL
Ownership
equity (Net
assets), MDL
Size of the
guarantee
funds, MDL
Total
operational
income, MDL
150 000
60 000
134 000
2 960 096
2 420 361
1 956 502
250 000
240 000
250 000
75 000
2 220 542
520000
550 000
100 000
Net income
(Net loss),
MDL
-309 790
1 070 350
1 405
* Professional participants having dealer activity as main and brokerage activity as related
184
Annex No. 20
Information on the volume of transactions made through non-banking brokerage/dealer companies during 2013
Transactions on Stock Exchange
Basic section
Name of the
broker/deler
Oldex JSC
Fincom JSC *
S.V.M. Iuventus-DS
JSC
DAAC-Invest JSC
C.B. Proajioc JSC
F.B. BrokWest JSC *
Passim JSC *
Broker M-D JSC *
Valinvest JSC *
Gest-Capital JSC *
Broker-Capital JSC *
Total
value of
the
transactio
ns, MDL
17 235
545
4 696 702
35 961
237
57 521
362
330 118
764
8 753 369
2 258
26 967
872
72 487
032
21 391
919
0
Total
number
of
transact
ions,
units
Direct transactions section
Sale and purchase
Single-package
Public offer on the
secondary market
Volume of
the
transaction
s, MDL
Number of
transaction
s, units
Volume of
the
transaction
s, MDL
Number of
transaction,
units
Volume of
the
transaction
s, MDL
Number
of
transacti
ons,
units**
Volume of
the
transaction
s, MDL
150
15 025 689
97
1 680 636
48
0
0
529 220
288
1 160 384
68
407 218
72
3 129 100
148
33
536 448
22
16 280
6
1 928 509
140
4 887 852
113
5 544 389
20
297
291 783 573
107
165 227
103
1
4 235 552
2 258
91
1
264
790 348
403
Sale-purchase
transactions direct
negotiation
Volume of
the
transaction
s, MDL
Number of
transaction
s, units
5
0
0
0
0
0
0
4
33 480 000
1
0
0
2 103 440
2
44 985 680
5
0
0
70
4 671 384
116
33 498 580
4
0
0
4 517 817
0
12
0
0
0
0
0
0
0
0
0
0
0
0
0
190
482 948
46
25 674 702
26
0
0
19 875
2
71 661 692
379
624 653
8
200 687
16
0
0
0
0
318
1 010 383
186
20 377 883
130
3 653
2
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
314
112 493
480
19 875
2
335 551
39
335 551 588
39
0
0
0
588
910 687
2 036
726 645 766
1 293
33 817 051
412
37 711 474
TOTAL
647
* Including transactions as dealer
** The given calculus includes the total number of transactions within public offers mediated both for buyers and seller
Broking-VM JSC
Transactions with public
property securities
Number of
transaction
s, units
15
185
Annex No. 21
The volume of transactions with corporate securities carried out via commercial banks during 2013
Amount of transactions according to types of transactions, MDL
Name of the bank
Total number
of
transactions,
units
Sale and purchase
Public offer on the secondary
market
Single-package
Transactions with public
property securities
The total
volume,
MDL
Volume of the
transactions,
MDL
Number of
transactions,
units
Volume of the
transactions,
MDL
Number of
transactions,
units
Volume of the
transactions,
MDL
Number of
transactions,
units
Volume of the
transactions,
MDL
Number of
transactions,
units
0
0
23 820
1
321 355 951
38 498 022
CB "Victoriabank" JSC
161
321 022 358
155
309 772
5
CB "Energbank" JSC
12
150 702
7
38 347 320
5
0
0
0
0
CB "Eximbank Gruppo Veneto Banca" JSC
53
1 164
3
0
0
253 220
50
0
0
254 384
CB "Banca de Finanţe şi Comerţ" JSC
30
410 860
24
1 284 444
6
0
0
0
0
1 695 304
"Banca de Economii" JSC
24
1 538 797
24
0
0
0
0
0
0
1 538 797
CB "Moldindconbank" JSC
21
19 918 918
21
0
0
0
0
0
0
19 918 918
CB "Mobiasbancă-Groupe Societe Genarale" JSC
10
144 332
10
0
0
0
0
0
0
144 332
CB "Moldova Agroindbank" JSC
40
118 077 924
40
0
0
0
0
0
0
118 077 924
CB "Banca Socială" JSC
116
108 588 680
116
0
0
0
0
0
0
108 588 680
CB "Unibank" JSC
13
123 262 595
13
0
0
0
0
0
0
123 262 595
CB "Eurocreditbank" JSC
TOTAL
0
0
0
0
0
0
0
480
693 116 333
413
39 941 536
16
253 220
50
23 820
0
0
1
733 334 906
186
Annex No. 22
Independent registrars that activated and provided services of issuers register in 2013
No.
Name of the independent
registrar
Legal address
Manager
1
„Registru-Corect” JSC
Chisinau municipality, Vasile Alecsandri street, 129/11
Maria Bîtcă
2
„Registru” JSC
Chisinau municipality, Sciusev street, 47
Olesea Domentii
3
„Registrator-Centru” JSC
Chisinau municipality, Calea Iesilor street, 10
Iurie Savinov
4
„Registru-Garant” JSC
Chisinau municipality, Mitropolit Varlaam street, 65, of.
333
Irina Iaroșenco
5
„Real-Registr” JSC
Balti municipality, Kiev street, 122, of. 3
Anatol Zbancă
6
„Grupa Financiară” JSC
Chisinau municipality, Armeneasca street, 55, of. 301
Viorica Bondarev
7
„Registru Ind” JSC
Chisinau municipality, Grigore Vieru boulevard, 22/1 of.
60
Tatiana Panfilova
8
”Soliditate” JSC
Chisinau municipality, Feredeului street, 4
Andrei Ciornîi
9
„Comitent” JSC
Chisinau municipality, Negruzzi street, 2, of. 304
Valentin Iliașenco
10
„Intermedia Group” JSC
Chisinau municipality, Podgorenilor street, 36
Oxana Anton
11
„Depozitarul Central” JSC
Number of issuers having
contracts for register keeping
with the registrar
294
542
228
133
76
372
79
Total
178
134
Chisinau municipality, Vasile Alecsandri street, 119a
Iuliana Rotari
34
22
2092
187
Annex No.23
Net income (net loss)
Operational net income
Other operational
expenditures
General and
administrative
expenditures
Total operational
expenditures
Expenditures
Other
operational incomes
Incomes
Incomes from
providing services
Total operating income
Guarantee
fund
Total value of assets
Ownership equity
(Net assets)
Share capital
Name of the independent
registrar
Results of economic and financial activity of the independent registrars according to the situation at the end of 2012,
(MDL)
”Registru-Corect” JSC
86344
1583037
1757484
870000
1104446
1104446
0
774592
391183
383409
329854
367882
”Registru” JSC
217000
755524
884281
210000
590362
590362
0
654460
205856
448604
-64098
-63866
”Registrator Centru” JSC
635000
1386864
1431979
215000
1139661
1139661
0
928214
504677
423537
211447
198269
”Registrul-F” JSC
268800
951073
1049261
470000
801350
793793
7557
515564
214458
301106
285786
274560
”Real Registr” JSC
880000
936288
1186852
210000
528645
478245
50400
520336
348149
172187
8309
28914
”Grupa Financiară” JSC
440000
1037332
1040081
210000
689299
688046
1253
731553
585019
146534
-42254
22946
”Registru-Ind” JSC
454000
709230
717406
210000
154908
154786
122
173332
117504
55828
-18424
-3594
”Soliditate” JSC
851320
1138529
1151249
210000
332724
331926
798
349532
97758
251774
-16808
41226
”Comitent” JSC
625000
814577
908873
241246
225895
220847
5048
333311
119921
213390
-107416
-77713
”Intermedia Group” JSC
996072
1069141
1189319
228000
44742
44742
0
69378
63594
5784
-24636
-14512
”Depozitarul Central” JSC
750000
701999
702273
218834
231391
231391
0
292107
285448
6659
-60716
-21446
TOTAL
6203536
11083594
12019058
3293080
5843423
5778245
65178
5342379
2933567
2408812
501044
752666
188
Annex No. 24
1
2
3
4
5
6
7
FIN „Cais-F” JSC
Number of placed
shares
No.
Name of investment
funds
Number of
shareholders
Economic and financial situation of the investment funds in process of forced liquidation, end of 2013
Total
assets,
MDL
73 664 22 659 100 15 301 347
FINN„Grand-Fines”
6 728
JSC
FINN „Mold-Invest”
11 826
JSC*
FINN „Prim
3 660
Invest”JSC. *
FINN„Soprocominvest”
10 049
JSC
FINN „Terra-Invest”
7 847
JSC*
FINN „Interinvest914
Plus” S.A.JSC*
Difference
Balance
Value of net
between
Balance
profit
Balance value
assets accruing
net assets
value of
(losses) of
of net assets,
to one MDL
and share
investment, reporting
MDL
from share
capital,
MDL
period,
capital, MDL
MDL
MDL
Share
capital,
MDL
Weight of
share
capital in
total assets,
%
22 659 100
148,09
13 807 322
-8 851 778
0,61
15 137 333
-2085
2 068 012
1 837 079
2 068 012
112,57
1 831 588
-236 424
0,89
1 817 776
0
5 665 702
1 715 551
5 611 794
327,11
1 714 762
-3 897 032
0,31
1 714 754
0
837 507
228 162
837 507
367,07
194 339
-643 168
0,23
171 451
0
916 312
2 185 313
4 000 000
183,04
2 184 065
-1 815 935
0,55
2 139 275
-433
2 490 548
1 159 717
1 249 000
107,70
1 145 428
-103 572
0,92
1 159 710
0
313 797
578 890
1 568 985
271,03
338 297
-1 230 688
0,22
571 685
0
8
FINN „Interfond”JSC
5 287
1 837 040
506 867
1 650 619
325,65
491 177
-1 159 442
0,30
505 270
0
9
FINN „Transinvest”
JSC
2 676
121 981
287 382
1 182 810
411,58
260 819
-921 991
0,22
285 622
0
40 827 827
171,54
21 967 797
-18 860 030
0,54
23 502 877
-2 518
Total
122 651 36 909 999 23 800 308
* According to the situation reflected in previous years
189
Annex No. 25
Economic and financial situation of the investment funds in process of its own initiative, end of 2013
2
3
4
5
6
7
8
UNIF
„AsitoInvest” JSC
UNIF „D-Invest”
JSC
UNIF „ExitonBon” JSC
UNIF„ExitonInvest” JSC
UNIF
„CredoInvest” JSC
UNIF
„NordInvest” JSC*
UNIF„TelecomInvest” JSC
UNIF
„YorkInvest” JSC
Total
Balance
value of
investment
s, MDL
balance
profit (losses)
of reporting
period, MDL
Number of placed
shares
1
Value of
net assets
accruing to
one MDL
from share
capital,
MDL
Total
assets,
MDL
98 615
26 453 849
15 753 441
26 453 849
167,92
14 903 218 -11 550 631
0,56
15 751 626
-5 021
58 979
61 289 755
34 311 134
40 720 834
118,68
34 300 698
-6 420 136
0,84
33 337 729
-85 563
245 733
69 368 125
50 717 691
48 327 904
95,29
50 298 060
1 970 156
1,04
50 684 542
-2 249
71 915
24 605 981
19 935 163
24 605 981
123,43
18 712 331
-5 893 650
0,76
19 885 808
-36 093
60 991
26 276 105
20 700 977
25 690 782
124,10
19 486 920
-6 203 862
0,76
20 677 330
-25 300
106 683
30 092 420
9 024 973
30 092 420
333,44
8 619 332
-21 473 088
0,29
8 862 769
0
92 792
26 954 923
47 619 416
26 954 923
56,60
46 817 338 19 862 415
1,74
47 532 040
2 453 693
33 904
11 841 904
3 660 640
11 841 904
323,49
3 470 901
-8 371 003
0,29
3 659 199
-34 315
769 612
276 883 062
201 723 435 234 688 597
116,34
196 608
798
-38 079 799
0,84
200 391 043
2 265 152
Number of
shareholders
Nr.
Name of
investment
funds
Share
capital,
MDL
Weight
of share
capital in
total
assets, %
Balance
value of
net
assets,
MDL
Difference
between
net assets
and share
capital,
MDL
* According to the situation reflected as of 31.12.2010
Note: Balance value of assets of UNIF „Viitorul – Tău” JSC is 53 300 MDL.
190
Annex No. 26
976 086
1 498 674
23 315 158
4 560 795
1 960
0
844 417
447 004
-300 179
67 205
546 198
514 209
540
920 000
1 565 269
94 495 677
1 179 694
568 619
0
373 513
76 162
0
0
942 132
76 162
9
70 313
244 947
4 815 154
60 580
1 068
0
44 812
4 067
0
0
45 880
4 067
26
150 000
204 567
1 861 047
185 566
114 553
0
20 869
5 080
0
0
159 188
5 080
622
2 116 399
3 513 457
124 487 036
5 986 635
686 200
0
1 283 611
532 313
-300 179
Fiduciary company
Founders of fiduciary
administration
47
Fiduciary company
Founders of fiduciary
administration
Founders of fiduciary
administration
Equity, MDL
Share capital, MDL
Fiduciary company
Total 381 948
Sale of assets
Founders of fiduciary
administration
4
Interests rate
Fiduciary company
3
dividends
Results of
investment
activity, MDL
Founders of fiduciary
administration
2
„F.O.N.D.
–
33 328
A.F.” JSC
C.F. „Europa 332 708
Trust” JSC
A.F. „Codru”
11 681
JSC
C.F.„EconRenaştere”
4 231
JSC
Incomes from
Fiduciary company
1
Value of financial
investments
Number of managed companies
No.
Name of
fiduciary
company
Number of fiduciary accounts
Economic and financial situation of the fiduciary administrator, end of 2013
67 205 1 693 398 599 518
191
Annex No.27
Concluded contracts and services by companies evaluating securities and assets related to them
Number of concluded contracts, units
No.
Income obtained from provided services, MDL
Name of evaluation company
2013
2012
2011
2013
2012
2011
1.
”Bartol Consulting” JSC
22
23
27
329 566
340 000
548 000
2.
A.R.E. ”Estimator-VM” JSC
24
30
23
170 339
365 928
321 500
3.
2
8
4
30 000
154 000
77 000
4.
”Finactiv-Consulting” JSC
”ICF-Consulting-Service”
JSC
0
5
8
0
92 000
70 600
5.
”Evalestim” JSC
7
29
0
55400
424 500
0
TOTAL
55
95
62
585305
1376428
1017100
192
Annex No.28
Heritage structure securities valuation companies and assets related to
them at the end of the year 2013
3.
4.
5.
"FinactivConsulting" JSC
"ICFConsultingService" JSC
„Evalestim” JSC
TOTAL
262
0
24 084
3 565
430
23 924
60 000
229 837
69 777
411 617
8481
1209
5400
0
15 090
20899
0
211319
0
25896
326084
599 288
195
31 353
202 000
0
233 548
0
7 547
2251
60 000
5 339
204
308 889
1 541
661 320
77 546
0
740 407
180
7 006
0
1 201
151 292
903 342
49 813
79 266
119 000
0
248 079
0
3 256
276
47 100
60 000
85 858
75 989
517 302
62 014
794 986
404 208
0 1 261 208
24 644
291 600
180 000
348 131
623 346
2 740 438
11 509
Other
assets
21 838
Other
assets
1 984
Financial
assets
Cash flow
2.
"Bartol
Consulting" JSC
A.R.E.
"Estimator-VM"
JSC
Short-term
investment
s
1.
TOTAL
ASSETS, MDL
Tangible
assets
Nr.
d/o
Total longterm assets,
MDL
Intangible
assets
Name of evaluation
company
Current assets, MDL
Stocks of
goods and
materials
Short-term
receivable
s on
transactio
n with
budget
Short-term
receivable
s
Long-term assets, MDL
193
Annex No.29
Information on the activity of professional participants who practiced
consulting and investment 2013
No.
Practice
d
activity
Name of professional
participant
Absolute deviation
Number of contracts
concluded, units
2013
2012
Number of provided
services, units
2013
2012
Income obtained as result of
provided services, MDL
2013
2012
contracts,
units
provided
service,
units
Income, MDL
„Broker M-D” JSC
2
3
5
6
18 049,9
37 398,9
-1
-1
-19 349,0
2.
„Proajioc” JSC JSC
5
3
6
2
20 500,0
5 700,0
2
4
14 800,0
„Codru” JSC
1
0
46
63
313 140,0
440 810,0
1
-17
-127 670,0
„DAAC – Invest”
1
5
1
6
15 000,0
157 750,0
-4
-5
-142 750,0
12
21
14
21
26 180,0
62 100,0
-9
-7
-35 920,0
”Broker-Capital” JSC
3
4
3
3
13 300,0
8 960,0
-1
0
4 340,0
„Valinvest” JSC
0
2
0
0
0,0
0,0
-2
0
0,0
9
”Fincom” JSC
1
0
1
0
8 000,0
0,0
1
1
8 000,0
10
CB ”Victoriabank” JSC
2
3
2
3
5 820,0
25 636,8
-1
-1
-19 816,8
-14
-26
-318 365,8
10.
Total:
„Depozitarul Central”
JSC
”Bursa de Valori a
Moldovei” JSC
4.
6.
7.
8.
11.
12.
consulting
3.
Investment consulting
1.
”Passim” JSC
”Bursa de Valori
27
41
78
104
419 989,9
738 355,7
25
2
27
1
201 554,0
28 000,0
23
26
173 554,0
0
2
0
2
0,0
400,0
-2
-2
-400,0
1
0
1
0
1 500,0
0,0
1
1
1 500,0
194
Chișinău” JSC
4
2
5
5
242 841,0
127 000,0
2
0
115 841,0
14.
„Bartol Consulting” JSC
”Finactiv-Consulting”
JSC
3
0
3
0
34 000,0
0,0
3
3
34 000,0
15.
„Grupa Financiară” JSC
7
4
7
4
8 960,0
9 100,0
3
3
-140,0
7
6
12
4
306 000,0
179 000,0
1
8
127 000,0
17.
„Valinvest” JSC
CB ”Eximbank-Gruppo
Veneto Banca” JSC
0
1
0
0
0,0
10 000,0
-1
0
-10 000,0
18
”Registrator-Centru” JSC
7
3
16
3
27 200,0
1 010,0
4
13
26 190,0
19
„Real-Registr” JSC
3
14
11
14
45 500,0
42 158,0
-11
-3
3 342,0
20
”Gest-Capital” JSC
4
0
3
0
20 000,0
0,0
4
3
20 000,0
21
”Registru-Ind” JSC
11
20
8
19
67 200,0
41 500,0
-9
-11
25 700,0
18,0
41,0
516 587,0
4,0
15,0
198 221,2
13.
16.
Total:
72,0
54,0
93,0
52,0
TOTAL (IC+C)
99,0
95,0
171,0
156,0
954 755,0
438 168,0
1 374 744,9 1 176 523,7
195
Annex No.30
Subscribed insurance premiums in 2013, MDL
Including the insurance
„ACORD-GRUP”
JSC
„ASITO” JSC
Property
insurance
of land
vehicles
(Casco)
2.8
23845285
5149201
191003082
16.0
46833191
Compuls
ory
insurance
voluntary
insurance
Total
1849063
32198935
34047998
114016966
76986116
Market
share of
total
Name of the
insurance
company
of fire
and
other
natural
disasters
Including the insurance
other
Personal
insurance
887018
17809066
17642105
6052132
Including
Premi
ums
earned
from
reinsuran
ces
of life
Civil
liability
insurance
Internal
insurance
Internal
insurance
other
2106383
0
6867865
1849063
0
5018802
62622
9661396
4224311
439460
121372608
54717763
58890483
7764362
8472116
of health
of
accident
3272226
1165843
23138954
14325167
„ASTERRA GRUP
„ JSC
„AUTOSIGURANTA
„JSC
„DONARISGROUP” JSC
9233693
26406566
35640259
3.0
21163378
18467561
2585984
109833
2528083
2000308
527775
0
11948798
9140282
0
2808516
0
11601718
2148682
13750400
1.1
1263208
1259769
3439
0
812447
0
812447
0
11674745
11488385
0
186360
0
59188985
41722543
100911529
8.4
30707888
24420624
4814770
1472494
4719099
3646732
1072366
0
65484542
22802909
36189497
6492137
0
„EUROASIG” JSC
5129232
6165742
11294974
0.9
5695454
5089965
589688
15801
324740
227802
96938
0
5274780
5080432
0
194348
0
„EXIM-ASINT”
JSC
1876089
4438695
6314784
0.5
3148195
1743993
1400470
3732
761011
680093
80918
0
2405578
1876089
0
529489
0
„GALAS „ JSC
3907172
45287164
49194336
4.1
16611215
5473696
712612
10424907
5240075
4536876
703199
0
27343046
3907172
0
23435874
0
„GARANŢIE” JSC
8098421
24654951
32753372
2.7
20900832
10930787
9377883
592162
2088544
611244
1477300
0
9763996
8066146
0
1697850
0
130861899
10.9
16893869
14907512
1928513
57844
73167048
2494031
930622
69742395 40800982
14881905
24878916
1040161
0
35847647
3.0
10116561
5271550
2254471
2590540
3360254
2289353
1070901
0
22340679
5261660
15031515
2047504
30153
343364133
28.7 144331817
42257622
89587186
12487009
23020130
12251606
10768524
0
171012398
58647973
65491936
46872489
4999789
122418862
10.2
48881274
28944679
9391900
10544695
4132517
3165397
967120
0
67882337
20207675
27379138
20295524
1522734
18676162
1.6
350508
265579
84929
0
86436
59288
27148
0
18239218
2811591
15411930
15697
0
3356691
0.3
0
0
0
0
3356691
0
0
3356691
0
0
0
0
0
32744871
2.7
13755855
12506226
1231871
17759
2583575
2303706
279869
0
16265055
15214840
0
1050215
140386
34840264
2.9
26648861
20521762
4548299
1578800
2118157
1841875
276282
0
6073246
2688380
2318919
1065948
0
80843597
145896200
46935550
„GRAWE CARAT
39852741 91009158
ASIGURĂRI” JSC
„KLASSIKA
20293175 15554472
ASIGURĂRI” JSC
„MOLDASIG„
128334418 215029715
JSC
„MOLDCARG”
48714519 73704343
JSC
„MOLDOVAASTROVAZ „
18229418
446744
J SC
„SIGUR-ASIGUR”
0
3356691
JSC
„TRANSELIT”
15396421 17348450
JSC
„VICTORIA
ASIGURARI „
5017299
29822966
JSC
TOTAL
490739331 706281933
1197021264
100 431147391 214852631 135451164
25422104 73538546 604749873 238642265 245592334 120515275 15227800
196
Annex No.31
Insurance compensation and claims paid in 2013, MDL
Including the insurance
Including the insurance
Name of the
insurance
company
Compuls
ory
insuranc
e
Voluntary
insurance
Total
„ACORD-GRUP „
JSC
1756543
6294088
8050631
1.86
4693327
2634371
0
„ASITO” JSC
40815026
27114212
67929238
16
14043976
10941976
2015588
2272876
6327143
8600019
1.99
5272897
5116903
155994
0
562200
472200
90000
4334889
498359
4833248
1.12
496749
496749
0
0
1610
0
15086489
19253956
34340445
7.94
17619773
17373936
245837
0
1302312
„EUROASIG” JSC
1403618
3191928
4595546
1.06
3180731
3110731
70000
0
„EXIM-ASINT
„JSC
1515625
1314494
2830119
0.65
1232493
1232493
0
„GALAS” JSC
1900562
4518485
6419048
1.48
2945138
2918108
„GARANŢIE” JSC
4266677
4652142
8918819
2
3535453
12418416
10677626
23096042
5.34
1314852
5667073
6981925
41296712
134090970
19019680
„ASTERRA GRUP
„ JSC
„AUTOSIGURANTA „
JSC
„DONARISGROUP” JSC
„GRAWE CARAT
ASIGURĂRI” JSC
„KLASSIKA
ASIGURĂRI” JSC
„MOLDASIG „
JSC
„MOLDCARGO
„JSC
„MOLDOVAASTROVAZ” JSC
„SIGUR-ASIGUR „
JSC
„TRANSELIT „
JSC
„VICTORIA
ASIGURARI” JSC
TOTAL
Amounts
paid
for risks
received in
reinsuran
ce
of
accident
of life
2058956 1552213
550358
1001855
0
1805091
1756543
0
48548
0
1086412 12302335
6236877
1064469 5000989
41494144
19904738
20903855
685551
88783
0
2764922
2272876
0
492046
0
1610
0
4334889
4334889
0
0
0
1078359
223952
0
15418361
8676657
6409832
331872
0
11197
8997
2200
0
1403618
1403618
0
0
0
0
82001
71186
10815
0
1515625
1515625
0
0
0
27029
0
1573348
1478238
95110
0
1900562
1900562
0
0
0
3145006
390447
0
255361
60040
195321
0
5128005
4266677
0
861328
0
7874326
7322346
509369
42611
2619073
682404
350144
1586525
12602643
4483789
7934627
184227
0
1.61
5173743
3156243
582792
1434708
468578
416808
51770
0
1314852
1271378
43474
0
24752
175387682
40.56
51191850
26771059
1071184
23349607 5767327
5568510
198817
0
117315513
20965463
20328399
76021651
1112993
29611786
48631466
11.25
27599511
19533252
292635
7773624 1345181
993502
351679
0
19505006
6869162
11997284
638560
181768
4444856
141814
4586670
1.06
106725
106725
0
0
35089
6894
28195
0
4444856
1043293
3401563
0
0
0
85387
85387
0.02
0
0
0
0
85387
0
0
85387
0
0
0
0
0
3064129
6399521
9463650
2.19
6116530
5931133
185397
0
221096
177746
43350
0
3098422
3064129
0
34293
27602
1851255
15844553
17695808
4.09
14994570
14634626
359945
0
849982
673727
68202
108054
1851255
1851255
0
0
0
156762205
275683537
432445743
100
166077791 124425657
5906216
85580655
71019034
79298076
1435898
Market
share
of total
of health
Civil
liability
insurance
Property
Including
insurance the
insurance
Including
the
insurance
other
Person
al
insurance
Inclusiv
35745918 29034290 18475846
3777489 6780955 235897764
Internal
insurance
Green
Card
other
197
Anexa nr. 32
Bilanțul contabil al societăților de asigurare conform situației la finele anului 2013, lei
Denumirea companiei
de asigurare
Active pe termen lung
Active curente
Total active
Capital propriu
Datorii pe termen lung
Datorii pe termen scurt
Total pasiv
2012
2013
2012
2013
2012
2013
2012
2013
2012
2013
2012
2013
2012
2013
ACORD-GRUP SA
30555707
24662917
46625125
65135839
77180832
65135839
21461095
21928008
38215735
33773390
17504002
9434441
77180832
65135839
ASITO SA
344058386 373545047 110435359 476997848 454493745
476997848 248864262
202829123 153619443 204208849
52010040
69959876
454493745 476997848
ASTERRA GRUP
16504181
SA
AUTO-SIGURANTA
25174646
SA
DONARIS-GROUP
33118093
SA
28607415
10684631
50385953
27188812
50385953
11685491
21684586
13188350
23930121
2314971
4771246
27188812
50385953
24333493
5255428
29635823
30430074
29635823
20614926
19220479
8949496
9243086
865652
1172258
30430074
29635823
34200698
61594471 112586615
94712564
112586615
20389299
20580927
55212537
72896057
19110727
19109631
94712564
112586615
EUROASIG SA
17268841
17757963
27173257
44618489
44442098
44618489
14941632
2991622
25568345
37739601
3932121
3887266
44442098
44618489
EXIM-ASINT SA
13733673
13054051
24202502
19878210
37936175
19878210
15021023
14473904
10420092
4956997
12495060
447309
37936175
19878210
GALAS SA
4695917
26443554
14937814
75708663
19633731
75708663
12293393
16091800
6106797
30071478
1233541
29545386
19633731
75708663
GARANŢIE SA
15120426
19775530
26125698
49076507
41246124
49076507
23626499
21367366
8717124
22797689
8902501
4911452
41246124
49076507
68317058
65555067 258731546 387736233 327048604
387736233
88183819
96689090 211650853 259520389
27213932
31526753
327048604 387736233
4429898
29563562
58760481
21255507
26398786
25058264
2762824
7303431
33871819
GRAWE CARAT
ASIGURĂRI SA
KLASSIKA
ASIGURĂRI SA
29441921
58760481
33871819
9853488
58760481
MOLDASIG SA
314311355 469680176 283878276 585978529 598189631
585978529 353756937
357337322 180713044 191047138
63719650
37594069
598189631 585978529
MOLDCARGO SA
83863211
70882093
68189924 137756119 152053135
137756119
57972178
45813956
64849223
67173844
29231734
24768320
152053135 137756119
MOLDOVAASTROVAZ SA
26115325
23019678
19575273
49244780
49244780
29724566
30880064
4483806
10657795
11482226
7706921
45690598
SIGUR-ASIGUR SA 202637971 225039307
2386736
227802490 205024707
227802490 183664176
204451680 19978811
13455398
1381720
9895412
205024707 227802490
TRANSELIT SA
22415455
23656712
20935764
36739987
43351219
36739987
23996401
12386045
16855133
20805900
2499685
3548042
43351219
36739987
VICTORIA
ASIGURARI SA
6584861
23921350
41839711
42011699
48424572
42011699
19381355
12712205
23707743
23879636
5335474
5419858
48424572
42011699
TOTAL 1228905004 1493698613 1052013436 2450054266
2280918440
2450054266
1166832559
1127836963 852090020
1051215632
261995860
271001670
2280918440
2450054265
45690598
49244780
198
Annex No.33
List of insurance companies with foreign capital, 2013
No.
Foreign investor's home
country
Insurance company
Share capital,
thousands MDL
Foreign capital in
the share capital,
thousands MDL
Weight of
foreign capital
in the share
capital
percent
1
„ASITO” JSC
Great Britain
46,5
22,5
48,4
2
„DONARIS – GROUP” JSC
Liechtenstein
15,1
14,1
93,4
3
„GRAWE CARAT ASIGURĂRI” JSC
Austria, Romania, Russia
57,4
56,8
99,0
4
„TRANSELIT” LLC
Great Britain
15,0
0,4
2,7
5
„VICTORIA ASIGURĂRI” LLC
Nederland
15,0
12,3
82,0
Total at 5 companies
149,0
106,1
x
Total on market
469,3
106,1
22,6
199
General total
Reinsurers' share in technical reserves
Receivables related to subscribed
premiums, to the extent that they are not
older than 60 days
Separate land or buildings and land located
close enough to each other to be
considered effectively as one investment
in a real legal interest in a property
Deposits and investments in financial
institutions licensed by the NBM
Available means in current bank accounts
of financial institutions licensed by the
NBM, including in foreign currency
Available means in the cash office
Corporate securities which are not traded
on a regulated market (stock exchange) of
the RM
Corporate securities traded on a regulated
market (stock exchange) of the RM
Government Securities issued by Central
Bank of any other state or by an
international financial organization
Securities issued by the Government of
RM or other state authority Securities
issued by the Government of RM or by
other state authority
Minimum solvency margin-life , MDL
Solvency ratio, percent
Available solvency margin-life
Life insurance reserve. lei
Minimum solvency margin-genaral,
Solvency ratio, percent
Available solvency margin-genaral, MDL
Insurance reserve
Name of the insurance
company
Annex No.34
Placement of assets admitted to represent insurance reserves and minimum solvency margin according to the situation at
the end of 2013
„ACORD-GRUP” JSC
33773390
18839359
125.6
15000000
0
0
0
0
2148842
0
0
0
39206
1531922
7659611
0
2297883
23454169
37131633
„ASITO „JSC
148794831
111026684
318.2
32319097
50914018
78079954
4013.3
1945506
0
0
64205531
0
832697
15130106
25921212
82187243
11313772
6522881
206113442
23308394
18643570
124.3
15000000
0
0
0
0
0
0
0
0
847518
2219926
6686910
11300237
4237589
57801
25349981
9089022
18582033
123.9
15000000
0
0
0
0
3729975
0
1335210
1335210
422671
1408902
1800000
5635609
44121
0
14376488
72896058
19112838
109.0
17536604
0
0
0
0
27355088
0
0
0
913517
5865098
25292065
2164352
5943487
20090612
87624219
„EUROASIG „JSC
37739601
-8492893
-56.6
0
0
0
0
0
0
0
2490852
0
722058
1619242
5000000
0
10293008
364701
20489861
„EXIM-ASINT” JSC
3479478
15029022
100.2
15000000
0
0
0
0
0
0
0
0
249341
30339
0
2053367
0
168111
2501158
„GALAS” JSC
30071478
15126448
100.8
15000000
0
0
0
0
0
0
466654
0
154736
1245355
6226775
0
1291653
22617927
32003100
„GARANŢIE” JSC
21443116
19439711
129.6
15000000
0
0
0
0
0
0
0
0
47594
2428971
12144854
7286912
3643456
2153409
27705196
42574715
29016458
193.4
15000000 215629925
60153915
267.4
22500000
126161749
0
0
49170
148330
22698089
115244537
42963794
2891613
12320264
322477545
23367577
21602799
144.0
15000000
0
0
0
0
2996916
0
4020373
0
264692
2300740
6785855
0
4020373
1565087
21954037
„MOLDASIG” JSC
191047138
278473633
443.4
62798049
0
0
0
0
0
0
34145167
0
850000
18809668
81429003
2429079
1057200
23883144
162603261
„MOLDCARGO” JSC
65834260
31405780
150.7
20842054
0
0
0
0
0
0
0
77340
964107
4072632
7200000
18979314
9489657
9517230
50300280
10657795
20207718
134.7
15000000
0
0
0
0
0
0
0
0
462601
1542002
7476581
6168008
687867
237774
16574833
1049
0
0.0
0
13446819
201969098
897.6
22500000
0
0
8149228
1220
21828
37490
5442023
8378728
185496
0
22216013
„TRANSELIT „ JSC
20805900
11011354
73.4
15000000
0
0
0
0
0
0
0
0
79307
463650
2000000
10322360
3870885
0
16736203
„VICTORIA
ASIGURARI” JSC
22860787
11954591
79.5
15000000
1018849
0
0
40754
5649342
0
11000
0
64911
845644
6675058
0
2550394
4392833
20189182
757744589
630979104
X
X
46986260
168041911
0
114824016
1462940
7085114
82249776
322984484
199869002
63818454
127345944
1086346431
„ASTERRA GRUP”
JSC
„AUTOSIGURANTA” JSC
„DONARIS-GROUP”
JSC
„GRAWE CARAT
ASIGURĂR” JSC
„KLASSIKA
ASIGURĂRI”JSC
„MOLDOVAASTROVAZ „ JSC
„SIGUR-ASIGUR”
JSC
TOTAL
298495804 281009611 340202967
200
5
6
7
8
9
10
11
Winter
barley
Corn
Vineyards
vines
Orchards
Winter
rape
Sugar
beet
Soy
% Of total payments
% from total receipt
0
0
0
0
2708718
3
0
0
0
0
0
0
0
0
0
0
404350
0
0
0
0
0 205
1025000
82000
0
0
0
0
0
249375
0
0
0
0
0
0
0
0 1971
33306000
2489280
120690
438
0
4865530
5
120690
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
413068
0
0
0
0
0
10
320000
38400
0
0
0
0
0
0
0
0
0
174420
0
0
0
232657
95
950000
38000
0 1326
15547500
1243800
0
0
0
0
0
5596380
6
458757
2
0
0
0
0
0
0 2716
46414256
4372545 6400189
0
4928845
5
6400189 23
0
0
0
0
0
0
401
6015000
421050
1581415
0
0
0
0
791800
1
1902855
8477201
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3034
24140675
1045486
0
0
0
0
43
6752500
404350
2927746
0
0
0
0
0
282
1662500
76938
0
332
1887500
90438
0
2473
41700500
2196970
0
0
0
0
100
7846860
413068
0
0
0
57
2136000
136020
0
0
0
3146
34461500
2134875
226100
800
17067500
481900
0
0
0
561
7615000
370750
321440
0
0
2981 22945800 933632
2837 31175500 2179705
0
Grapes
3004
13
Tobacco
20
1600000
80000
0
0
0
0
0
0
0
0
0
20
1600000
112000
0
14
Animals
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
140707460 9501252 5736070 1143 56516100 3468478
25077 601511894 37408111 17867298 9496 244930799 14103147
71760
304417
2436 114893860
6375 299920609
22372716
0
Total amount of
claims paid, lei
0
0
0
12
Total
Total amount of
premiums, lei
729600
578560
0
Claims paid, lei
9120000
4821030
0
Insurance
premium
underwritten, lei
0 1520
84970000
0
Insurance
premium
underwritten*,
lei
0
6701
0
13819115
Insurance sum, lei
579177
3834 183756749
Surface, ha
5351250
0
Claims paid, lei
71750000
Insurance
premium
underwritten*, lei
0 5275
Surface, ha
Insurance sum, lei
0
Claims paid, lei
0
Insurance
premium
underwritten*, lei
Insurance sum, lei
Insurance sum, lei
4
0
230851399 15745473 8077382 2203 132405899 7430894
0
Other risks
0
4856
0
Excessive drought
Surface, ha
3
Sunflower
Winter
wheat
Vegetabl
es
Spring frosts
Claims paid, lei
2
Surface, ha
Orchard
(fruit)
Winter frosts
Claims paid, lei
1
Hail
Insurance
premium
underwritten*, le
Insured
crops
Insurance sum, lei
No
Surface, ha
Annex No.35
Information on gross written premiums and compensation for subsidized insurance risks in agricultural
production in calendar year 2013
36995482 41 8077382 30
986 15475000 350700 100000 10522980 12 1257737
310
8964000 179280
7440000 74400
0
5
0
2927746 11
7
21446931 24 5807830 21
192000
0
0
0
54473 30231034 1664580 366991 1664580
2
366991
1
0 13434 184777756 14801525 8681471 56207 62110034 2268960 466991 90954458 100 27320177 100
201
Annex No.36
Report on reinsurance operations
No.
Name of the insurance company
Asigurări de viaţă
General insurances
Insurance
premiums
receipted on
risks received
from
reinsurance
Total
premiums
ceded in
reinsurance
(life
and general)
34047998
62622
16299996
34047998
16299996
191003082
8472116
18203314
190563622
Total gross
subscribed
premiums
(life
and general)
Gross
subscribed
premiums
Gross
subscribe
d
premiums
Premiums
ceded in
reinsurance
Weight of the
ceded premiums
in the gross
subscribed
premium
47.9
0
0
0
18203314
9.6
439460
0
0
0.7
0
0
0
0
0
0
0
Premiums
ceded in
reinsurance
Weight of the
ceded premiums
in the gross
subscribed
premium
1
„ACORD-GRUP” JSC
2
„ASITO” JSC
3
„ASTERRA GRUP” JSC
35640259
0
259199
35640259
259199
4
„AUTO-SIGURANTA” JSC
13750400
0
0
13750400
0
5
„DONARIS-GROUP „ JSC
100911529
0
30560959
100911529
30560959
30.3
0
0
0
6
„EUROASIG” JSC
11294974
0
428781
11294974
428781
3.8
0
0
0
7
„EXIM-ASINT” JSC
6314784
0
500566
6314784
500566
7.9
0
0
0
8
„GALAS” JSC
49194336
0
33559990
49194336
33559990
68.2
0
0
0
9
„GARANŢIE „ JSC
32753372
0
5961989
32753372
5961989
18.2
0
0
0
10
„GRAWE CARAT ASIGURĂRI „ JSC
130861899
0
18506413
61119504
15001716
24.5
69742395
3504697
5.0
11
„KLASSIKA ASIGURĂRI” JSC
35847647
30153
4530335
35847647
4530335
12.6
0
0
0
12
„MOLDASIG „JSC
343364133
4999789
71922610
343364133
71922610
20.9
0
0
0
13
„MOLDCARGO” JSC
122418862
1522734
26518583
122418862
26518583
21.7
0
0
0
14
„MOLDOVA-ASTROVAZ „ JSC
18676162
0
1319580
18676162
1319580
7.1
0
0
0
15
„SIGUR-ASIGUR” JSC
3356691
0
0
0
0
3356691
0
0
16
„TRANSELIT” JSC
32744871
140386
739976
32744871
739976
2.3
0
0
0
17
„VICTORIA ASIGURARI” JSC
34840264
0
7607930
34840264
7607930
21.8
0
0
0
1197021264
15227800
236920220
1123482718
233415523
20.8
73538546
3504697
4.8
TOTAL
0
202
Annex No.37
Main indicators of insurance companies’activity at the end of 2013, MDL
Technical reserves
No.
Name of the insurance
company
Total assets
Net assets
Paid share
capital
Total
Including
mathemati
cal
reserves
Paid
compensation
ns and
insurance
indemnities
Including
percentage
compensatio
ns of the
damage on
risks
received in
reinsurance
Gross
subscribed
premiums
Including the
insurance
premiums and
portfolio of
premiums
earned on
risks
received in
reinsurance
Premiums
ceded in
reinsurance
Profit
(loss) of
the
reported
period
before
taxation
1
„ACORD-GRUP” JSC
65135839
21928008
15000000
33773390
0
8050631
0
34047998
62622
16299996
5926557
2
„ASITO „ JSC
452155715
143919254
46515340
152138488
51001315
67929238
88783
192898924
8445576
19654142
-20117080
3
„ASTERRA GRUP” JSC
50385953
21684586
22508888
23308394
0
8600019
0
35640259
0
259199
804025
4
„AUTO-SIGURANTA „
JSC
29635823
19220479
17964700
9089022
0
4833248
0
13750400
0
0
-804518
5
„DONARIS-GROUP” JSC
112586615
20580927
15096510
72896058
0
34340445
0
100911529
0
30560959
191627
6
„EUROASIG „ JSC
44618489
2991622
15000000
37739601
0
4595546
0
11294974
0
428781
-12381696
7
„EXIM-ASINT” JSC
19878210
14473904
15000000
3479478
0
2830119
0
6314784
0
500566
-294131
8
„GALAS” JSC
75708663
16091800
15000072
30071478
0
6419048
0
49194336
0
33559990
2780000
9
„GARANŢIE” JSC
49076507
21367366
19800000
21443116
0
8918819
0
32753372
0
5961989
-713267
387736233
96689090
57378000
42574715
215629925
23096042
0
130861899
0
18506413
9244274
58760481
26398786
21651000
23367577
0
6981925
24752
35847647
30153
4530335
-169376
10
11
„GRAWE CARAT
ASIGURĂRI” JSC
„KLASSIKA ASIGURĂRI”
JSC
12
„MOLDASIG” JSC
585978529
357337322
60000000
191047138
0
175387682
1112993
343364133
4999789
71922610
38033830
13
„MOLDCARGO „ jsc
137756119
45813956
30000000
65834260
0
48631466
181768
122418862
1522734
26518583
2961759
14
„MOLDOVA-ASTROVAZ
„ JSC
49244780
30880064
21000000
10657795
0
4586670
0
18676162
0
1319580
13208
15
„SIGUR-ASIGUR „ JSC
227802490
204451680
67400000
1049
13454349
85387
0
3356691
0
0
18690431
16
„TRANSELIT” JSC
36739987
12386045
15000000
20805900
0
9463650
27602
32744871
140386
739976
-1939151
17
„VICTORIA ASIGURARI”
JSC
42011699
12712205
15000000
22860787
1018849
17695808
0
34840264
0
7607930
-55980
2425212133
1068927094
469314510
761088245
281104438
432445743
1435898
1198917106
15201260
238371048
42170512
TOTAL
203
Annex No. 38
Financial results of insurance and/or reinsurance brokers
No.
Name of the insurance and/or reinsurance broker
Share
capital
Intermediated gross
subscribed premiums
Number of
intermediated
contracts
2011
2012
2011
2012
ncome from
intermediation activity
2011
2012
1
BA "PROCOMPASGRUP" LLC
25000
6250
6231
6602833
4347717
1890597
1298194
2
BAR "ASIGVITAL" LLC
25000
642
644
1693621
2138565
534992
564652
3
BAR "BLAJCO ASIST" LLC
25000
5906
16014
7878781
13960324
2489687
2589397
4
BA "DUVISTAR" LLC
25000
511
279
1076621
583924
369517
187972
5
"ANAVIMAX BROKER ASIGURARE DE VIATA"
LLC
53000
38
14
841904
895391
50932
35275
6
BAR "ERVAX GRUP" LLC
25400
2928
2293
14668788
10289897
3078147
2941111
7
BAR“COVERINS” LLC
40000
2152
3348
10585781
9752029
2718126
2272665
65000
2880
4353
2118556
4014706
672805
1081101
50000
4179
3154
8618245
5531785
2276821
1549635
25400
2871
2513
3648158
3332123
1305248
979070
661180
4664
4927
17207237
17860411
14884813
15810034
8
9
SC "AV BROKER DE ASIGURARE
REASIGURARE" LLC
SC "T.A.T.I. GRUP BROKER DE ASIGURARE"
LLC
10
BAR "LUCIADA" LLC
11
ÎCS "EUROLIFE BROKER DE ASIGURARE " LLC
12
BA "BROKER EXPERT" LLC
25000
1682
1607
2173520
2776874
645117
716127
13
SC "BROKERASIG" LLC
25400
1382
2980
4910076
5628920
1205691
1455101
14
SBAR "TOP BROKER" LLC
31250
2641
1818
4593844
2404152
1360839
669646
15
BAR "PRODEVIZ" LLC
25000
76852
64109
26254760
28361128
7931205
8444653
16
ÎCS "WVP BROKER DE ASIGURARE " LLC
36307
2373
1798
3865094
3803432
1035081
843476
17
*BA "AMSICONS" LLC
25400
547
410624
168326
204
18
SC "AMP BROKER" LLC
30000
6131
6806
10608679
11022521
3520282
2996891
19
SC "STARASIG-BROKER DE ASIGURARE" LLC
25000
1721
0
69665
0
41335
0
20
BAR "IRS MANAGEMENT" LLC
25000
1009
732
2281791
922268
776786
381613
21
BAR "PROFILIDER" LLC
25000
803
38
1763442
66240
298814
11141
22
BAR "CENTRASIG" LLC
25000
1865
266
1890419
172788
583788
57645
23
BAR "OMNIS" LLC
25000
1228
813
2595525
1596741
671939
531907
24
BAR "ELITA-BROKER" LLC
25000
2945
1017
4845898
1952916
1537840
538156
25
BAR "AUTOBIN-GRUP" LLC
25000
3078
3062
3852852
3690801
1263496
1084553
26
BAR "MARIASIG" LLC
25000
1401
1781
572563
829656
173959
224892
27
BA "GM-ASIGRUP" LLC
25400
1176
909
1182926
1249701
382023
479718
28
BAR "PARTENER-BROKER" LLC
25000
26488
21218
13459588
13364936
5153871
4782168
29
BAR "BIRMAN GRUP"LLC
25000
1153
3364
1410287
2324684
413088
635808
30
ÎM BAR "SKY BROKER" LLC
25000
298
12
652595
76688
316422
28318
31
BAR "EXTRA-ASIG" LLC
25000
445
21
755025
28933
248584
9989
32
BA "INSURANCE CONSULTING & SOLUTIONS"
LLC
25000
1540
1783
1416727
2589891
461441
807383
33
BAR "CONSASIG - SERVICE" LLC
25000
5576
7179
8907336
12695012
2832726
4176479
34
BAR "B.S.C.E. - GRUP" LLC
25000
2894
3466
1821474
2635736
567680
759206
35
BAR "GAMA PERFECT ASIG" LLC
25000
1564
1095
805153
985958
249573
244479
36
BAR "AUTORIG ASIG" LLC
25000
1445
2764
970180
1648027
312766
526876
37
BAR ,,SGT ASIG CONSULTING” LLC
25000
7886
3655
2233233
2808339
687244
694747
38
BAR ,,GENERAL BROKER” LLC
25000
8996
7239
8981887
7394222
2985736
2155854
39
BAR ,,UNIVERSAL ASIG” LLC
25000
5517
3191
5525492
2977052
1868897
1010591
40
BAR ,,INTELMOD ASIG” LLC
25000
4150
1658
10702237
1940941
2163926
558400
205
41
BAR ,,PREMIUM BROKER” LLC
25000
964
644
2523899
1459618
694491
313245
42
BAR ,,BAS ASIG” LLC
25000
4063
7091
2908170
4790206
899123
1479434
43
BAR ,,NOVA BROKER”LLC
25000
24279
30359
9335894
14872775
2789416
2681168
44
BAR ,,MGP BROKER” LLC
25000
2705
5090
2763316
4887711
812586
1269481
45
BAR ,,PROMOASIG UNIVERSITAS” LLC
25000
4007
3364
10238656
8575767
3191967
2534022
46
BAR ,,EXCELENT BROKER” LLC
25000
960
426
2382851
1321235
764144
356136
47
BAR ,,GLOBAL BROKER” LLC
25000
532
717
400418
378985
121579
106040
48
SBAR ,,SEMASIG PRIM” LLC
25000
2378
0
1808531
0
614547
0
49
BAR ,,HERMINA” LLC
25000
564
375
1405689
1152707
784728
396482
50
BAR ,,OMEGA-BROKER” LLC
25000
2836
7831
2359422
5080311
754194
1413279
51
BAR"MEGA-OPTIM" LLC
25000
1279
1180
3016293
2880866
908063
761901
52
BAR "AECM ASIGURĂRI" LLC
25000
2681
4668
8830032
11421927
3312482
3267488
53
BAR "BROKER-PRO" LLC
25000
2149
2546
1273030
1327956
410622
381425
54
BAR "AXA BROKER " LLC
25000
20221
13310
7946297
12474281
2778787
4192894
55
BAR "MARKET DE ASIGURĂRI " LLC
25000
1014
345
1044646
451570
322858
93455
56
BAR "ONLINE BROKER DE ASIGURARE" LLC
25000
1216
1625
1984031
1865570
578953
639008
57
BAR "PROFESIONAL ASIG" LLC
25000
839
604
523956
523389
113544
142188
58
BAR ''EXCLUSIV-BROKER" LLC
25000
2605
1327
4167063
2730761
1373507
926807
59
BAR "ACCEPT-ASIG"LLC
25000
1179
1279
4251700
5151416
1252406
1371592
60
BAR ''MEDAVASIG" LLC
25000
2549
2205
2676638
2196949
891668
816199
61
BAR "PARTENERUL TAU" LLC
25000
651
1409
3400635
6926045
1014374
2141819
62
BAR ''SICONATA GRUP" LLC
25000
359
600
821603
399601
269000
100369
63
BAR ''PRACTIC-ASIG" LLC
25000
2768
4421
1371699
3082180
452998
851794
206
64
BAR. "PRO CREDO GRUP" LLC
25000
464
1252
2537371
5121930
842810
1556964
65
BAR. "CAPITAL-BROKER" LLC
25000
4317
9289
4331168
6539970
1428367
1974023
66
BA R."ABSOLUTASIG" LLC
25000
36
36
18647
20140
5284
5616
67
Î.M.B. A. R. "ASIGARC"LLC
25000
122
0
50933
0
17607
0
68
BA "ROMASIG" LLC
25000
469
172
389914
151779
124229
40657
69
B. A. R. "VMV BROKER" LLC
25000
457
1553
607259
2266848
185183
572109
70
B. A. R. "ASTRA" LLC
25000
1846
5299
952457
4723109
318079
1023703
71
B. A. R. "ARBORA GRUP" LLC
25000
179
817
142604
675076
42003
180667
72
B. A. R. "SANI-ASIG" LLC
30000
224
1944
543823
1843523
227694
677113
73
B. A. R. "IPSUS" LLC
25000
776
863
372076
514288
122869
172258
74
B. A. R. "GAMMA BROKER" LLC
25000
32
575
50897
964864
14846
264694
75
B. A. R. "PRIMGROUP-ASIG" LLC
25000
212
629542
0
191917
76
B. A. R. "REGALASIG" LLC
25000
6976
7995026
1330331
77
B. A. "INVEST-BROKER" LLC
25000
534
475621
126115
78
B. A. R. "ALLIANCE ASIG" LLC
25000
55
47245
8725
79
B.A.R. "EUASIG" LLC
25000
860
1471217
80
B. A. R. "MCA-BROKER" LLC
25000
143
16738
7365
81
B. A. "EXCLUSIV-ASIG" LLC
25000
1748
4242884
817336
82
B. A. R. "DESTINE ASIG" LLC
25000
47
47476
19693
83
B. A. R. "SAFETY BROKER"
25000
0
0
0
84
B. A. R. "BEST BROKER" LLC
25000
228
407595
115569
85
B. A. R. "CITY BROKER" LLC
25000
0
0
0
TOTAL
2898737
299527
312170
291885038
320762124
0
98565167
394366
99850371
207
Annex No. 39
General information on economic and financial situation of savings and credit associations, end of 2013
No.
Name of SCA
Locality
Rayon
1
2
3
SCA"Domulgeni"
SCA "Bălăşeşti"
SCA "Sofmicrocredit"
Domulgeni
Bălăşeşti
Sofia
Floreşti
Criuleni
Drochia
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Crişcăuţi
Cîrnăţeni
Cărpineni
Egoreni
Meşeni
Ignăţei
Olişcani
Lozova
Ciorescu
Şişcani
Cupcui
Colicăuţi
Costuleni
Tîrnova
Văratic
Donduşeni
Căuşeni
Hînceşti
Soroca
Rezina
Rezina
Şoldăneşti
Străşeni
Chişinău
Nisporeni
Leova
Briceni
Ungheni
Donduşeni
Rîşcani
Viişoara
20
21
22
23
SCA "Credit-Class"
SCA "Cişmea"
SCA "Cărpineni"
SCA "Egoreni-Credit"
SCA "Meşeni Credit"
SCA "Ignat-Credit"
SCA "Olişcani"
SCA "Lozova"
SCA "Microîmprumut"
SCA "Şişcani"
SCA "Cupcui Credit"
SCA "Colicăuţi"
SCA "Costuleni"
SCA "Tîrnova"
SCA "Văratic-Plus"
SCA "ViişoaraDomnească"
SCA "Mileştii Mici"
SCA "Moleşti"
SCA "Vorniceni"
SCA "Nimoreni"
24
SCA "Hăsnăşenii Mari"
19
Loan
recipients
Loans
Savings
Deposits
States shall Bank loans and
loans received
Own capital
184900
472039
4788061
60
38
365
0
0
4276783
0
0
83
133000
244679
567400
84395
334080
545593
447875
348256
18700
46760
34425
476055
628734
2553376
10726272
110000
0
0
1642563
0
271763
68
24
20
9
3
86
86
307
819
13
0
127
178
97
54
111748
0
0
0
0
0
0
716835
10444283
0
0
994846
0
0
0
174
0
0
0
0
0
0
33
62
0
0
81
0
0
0
0
295612
29500
0
30950
383202
382796
1097140
862501
57000
0
1183204
1245431
100837
0
630641
-286518
44669
61974
29648
127309
455613
1266517
1291045
212502
54454
-2198202
513511
-361281
294366
Glodeni
2509751
291
55700
3
1878710
665518
Mileştii Mici
Moleşti
Vorniceni
Nimoreni
Ialoveni
Ialoveni
Străşeni
Ialoveni
162400
1367470
2303109
2104105
18
245
136
268
0
0
521974
1544695
0
0
13
24
39320
1196825
2066800
148000
181168
321464
168055
861426
Hăsnăşenii Mari
Drochia
52345
18
0
0
42290
30892
208
25
26
27
28
29
30
31
SCA "Rubleniţa-Credit"
SCA "Credit Prim"
SCA "Microcredit"
SCA "Măcăreşti"
SCA "Bădiceni"
SCA "Lopatnic"
SCA "Măgdăceşti"
32
SCA "Respect-Service"
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
SCA "Cuconeştii Noi"
SCA "Marcredit"
SCA "Orhei Credit"
SCA "Mănoileşti"
SCA "Rediumăreanca"
SCA "Şofrîncani"
SCA "Grimăncăuţi"
SCA "Petreşti"
SCA "Credite-Sauca"
SCA "Credite-Coteala"
SCA "Aluniş"
SCA "Credite-Sudarca"
SCA "Zăbriceni"
SCA "Cotiujeni"
SCA "Hiroveanca"
SCA ''Boianca Nord''
SCA "Poiana-Credit"
SCA "CoşerniţeancaPrim"
SCA "Şoldăneşti Credit"
SCA "Rural-Fin"
SCA "Suport-Speranţa"
50
51
52
53
Rubleniţa
Voinova
Ungheni
Măcăreşti
Bădiceni
Lopatnic
s. Măgdăceşti
s. Popestii de
Jos
Cuconeştii Noi
Maramonovca
Orhei
Mănoileşti
Rediul Mare
Şofrîncani
Grimăncăuţi
Petreşti
Sauca
Coteala
Aluniş
Sudarca
Zăbriceni
Cotiujeni
Hirova
Gribova
Poiana
Soroca
Străşeni
Ungheni
Ungheni
Soroca
Edineţ
Criuleni
138517
209272
1785044
654468
0
24450
0
39
20
203
122
0
9
0
0
0
1728711
0
0
0
0
0
0
26
0
0
0
0
0
101000
600000
492243
0
0
0
78728
239999
481905
269647
45484
38543
0
Drochia
179544
39
0
0
147500
56693
252831
342040
0
921518
1155947
813064
6133145
617491
230500
1967800
404210
0
560010
2622000
16199
330400
0
25
87
0
96
105
102
327
106
35
127
59
12
109
181
3
40
2
0
0
0
0
0
0
126400
0
0
0
0
0
0
0
181603
0
0
0
0
0
0
0
0
7
0
0
0
0
0
0
0
6
0
0
27650
199000
0
619546
729645
310500
3046632
320711
0
1624139
202138
0
351026
1809350
0
0
0
-192180
184467
35169
429504
496222
594465
3384786
336478
267576
487697
284718
19655
256535
1026180
5240
42774
6834
Coşerniţa
Criuleni
270532
44
0
0
56107
269710
Şoldăneşti
Tănătarii Noi
Mihailovca
Soldăneşti
Căuşeni
Cimişlia
497535
150900
265233
154
21
46
0
0
0
0
0
0
410084
106835
179618
168561
76818
154972
Edineţ
Drochia
Orhei
Ungheni
Donduşeni
Edineţ
Briceni
Ungheni
Ocniţa
Briceni
Rîşcani
Donduşeni
Edineţ
Briceni
Călăraşi
Drochia
Soldanesti
209
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
SCA "Untesti"
SCA "Valea Mare"
SCA "Hîrtop-Lărgeni"
SCA "Lărguţa"
SCA"Risipeni"
SCA "Finagrocredit"
SCA "Fermier-Credit"
SCA "Stînca"
SCA "Dubăsarii Vechi"
SCA "Selemet-Fin"
SCA "Leuşeni Credit"
SCA "Cruglic"
SCA "Zîmbreni"
SCA "Malcoci"
SCA "Puhoi"
SCA "Furnica-Răzeni"
SCA "Sadova"
SCA "SuhuluceniCredit"
SCA "Negureni Credit"
SCA "Tîrşiţei"
SCA "Bahmut"
SCA "Trestieni-Invest"
SCA "Boldureşti"
SCA "Rădeni"
SCA "Supercredit"
SCA "Circular-Fin"
SCA "Chiţcanii Vechi"
SCA "Pietrosu"
SCA "Vărăncău"
SCA "Japca"
s. Untesti
Valea Mare
Hîrtop
Lărguţa
s. Risipeni
Criva
Step-Soci
Roşietici
Dubăsarii Vechi
Selemet
Leuşeni
Cruglic
Zîmbreni
Malcoci
Puhoi
Răzeni
Sadova
Ungheni
Ungheni
Cantemir
Cantemir
Falesti
Briceni
Orhei
Floreşti
Criuleni
Cimişlia
Teleneşti
Criuleni
Ialoveni
Ialoveni
Ialoveni
Ialoveni
Călăraşi
0
366703
0
520088
0
0
844221
1050528
4951463
136936
0
1811150
0
569350
1087666
2743262
222259
20
47
0
51
0
123
60
127
269
5
84
172
33
66
170
371
17
0
0
0
0
0
35000
0
0
4464935
0
0
1721000
0
0
0
50000
0
0
0
0
0
0
1
0
0
49
0
0
20
0
0
0
1
0
0
0
0
284250
0
3378011
675700
927435
0
58725
463837
0
234806
458406
913411
1994600
179565
15288
459437
0
268179
16344
-4978795
271345
312850
1287404
111728
-421996
609415
-302987
203409
264777
865246
85282
Suhuluceni
Teleneşti
532065
93
0
0
300000
382128
Negureni
Tîrşiţei
Bahmut
Valea-Trestieni
Boldureşti
Rădeni
Pîrjota
Gălăşeni
Chiţcanii Vechi
Pietrosu
Vărăncău
Japca
Teleneşti
Teleneşti
Călăraşi
Nisporeni
Nisporeni
Călăraşi
Rîşcani
Rîşcani
Teleneşti
Făleşti
Soroca
Floreşti
43875
404402
364125
340211
937690
0
6008535
6870859
16813
8860
0
26000
3
100
61
14
84
0
498
269
4
5
0
4
0
0
0
0
0
0
6415182
3854501
0
0
0
0
0
0
0
1
0
0
129
46
30000
297635
304954
1310071
554500
0
0
0
0
0
0
14
294371
171533
81261
-1496477
450995
47004
832811
2324440
225524
23192
-24508
49744
210
0
0
0
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
SCA "Ochiul Alb"
SCA "Popeşti"
SCA "Bravicea"
SCA "Prepeliţa"
SCA "Şolcani"
SCA "Tătărăuca Veche"
SCA "Ţepilova"
SCA "Holoşniţa"
SCA "Ecocred-Dîngeni"
SCA "Credite-Hlinaia"
SCA "Credite din
Clocuşna"
SCA "Credite-Bîrnova"
SCA "Fetica-Credit"
SCA"Creditconsum"
SCA "CrediteDrepcăuţi"
SCA "Bîrlădeni"
SCA "Puhăceni"
SCA "Lencăuţi"
SCA "Credite
Hădărăuţi"
SCA "CrediteCorestăuţi"
SCA"Credite din
Terebna"
SCA "Bani Expres"
SCA "BRD FINANŢE"
SCA "Grătieşti"
SCA "Ulmu"
SCA "Hruşova"
SCA "Speia"
Ochiul Alb
Popeştii de Jos
Bravicea
Prepeliţa
Şolcani
Tătărăuca Veche
Ţepilova
Holoşniţa
Dîngeni
Hlinaia
Drochia
Drochia
Călăraşi
Sîngerei
Soroca
Soroca
Soroca
Soroca
Ocniţa
Edineţ
5804050
695190
485125
321705
695042
340209
424810
0
2431716
0
349
105
79
37
84
35
94
0
348
59
4334045
860199
0
0
0
0
0
0
1306749
0
189
23
0
0
0
0
0
0
68
0
0
31250
344308
142800
192139
62296
269536
0
1077629
208532
2054511
22327
188616
260192
534129
209294
200438
46216
774186
-308568
Clocuşna
Ocniţa
411000
38
0
0
390000
62251
Bîrnova
Feteşti
com. Sirauti
Ocniţa
Edineţ
Briceni
541074
1888545
0
41
208
28
0
1657291
0
0
80
0
0
0
0
590380
1020979
-24032
Drepcăuţi
Briceni
224500
31
0
0
119700
124550
Bîrlădeni
Puhăceni
Lencăuţi
Ocniţa
Anenii Noi
Ocniţa
1280650
257729
313050
150
44
40
1334651
0
0
26
0
0
89183
139471
139000
-82309
155157
203728
Hădărăuţi
Ocniţa
1418459
129
485840
21
753762
281655
Corestăuţi
Ocniţa
0
0
0
0
0
58791
s. Terebna
Edinet
0
0
0
0
0
133411
Bîrlădeni
Bardar
Grătieşti
Ulmu
Hruşova
Speia
Ocniţa
Ialoveni
Chişinău
Ialoveni
Criuleni
Anenii Noi
639227
3387048
518792
972600
15451473
1547762
133
432
89
99
1244
163
0
1252823
0
0
10684190
0
0
21
0
0
160
0
268936
1630547
304289
670500
1895096
1206941
472418
974054
214067
336068
4416114
428783
211
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
SCA "Cimişeni"
SCA "Rădoaia"
SCA "Hîjdieni"
SCA "BaurciMoldoveni"
SCA "Credite-Gîrbova"
SCA "CrediteDonduşeni"
SCA "DRODANA"
SCA "Recea-Fin"
SCA "Cobusca Veche"
SCA "Economcredit"
SCA "Hîjdieni-Credit"
SCA "Voloviţa"
SCA "Avantaj-Credit"
SCA "Ciuteşti"
SCA "Horodişteanul"
SCA "Baştina-Pelinei"
SCA "Şuri"
SCA "Tigheci-Credit"
SCA "Oxentea"
SCA "Corneşti"
SCA "Todireşti"
SCA "Buşila"
SCA "Izvoare"
SCA "Chirileni"
SCA "Sculeni"
SCA "Ciuciulea"
SCA "Năvîrneţ"
SCA "Hiliuţi-Rîşcani"
SCA "Svetlîi - Prim"
Cimişeni
Rădoaia
Hîjdieni
BaurciMoldoveni
Gîrbova
Criuleni
Sîngerei
Glodeni
818590
3221140
2975520
137
343
281
0
0
0
0
0
0
521620
2705318
2205147
363041
876616
928149
Cahul
60282
8
0
0
0
28065
Ocniţa
176249
44
0
0
0
251252
Donduşeni
Donduşeni
679519
66
0
0
507870
232301
Drochia
Recea
Cobusca Veche
Codreanca
Hîjdieni
Voloviţa
Horodişte
Ciuteşti
Horodişte
Pelinei
Şuri
Tigheci
Oxentea
Corneşti
Todireşti
Buşila
Izvoare
Chirileni
Sculeni
Ciuciulea
Năvîrneţ
Hiliuţi
Svetlîi
Drochia
Rîşcani
Anenii Noi
Străşeni
Orhei
Soroca
Rîşcani
Nisporeni
Donduşeni
Cahul
Drochia
Leova
Dubăsari
Ungheni
Ungheni
Ungheni
Floreşti
Ungheni
Ungheni
Glodeni
Făleşti
Rîşcani
UTA
31150
164960
861193
3394999
0
751444
0
0
0
287717
266200
110736
1564171
1098326
571536
462480
259544
244330
5263012
1777932
0
418945
60000
15
19
100
431
8
70
0
61
0
71
34
25
166
177
65
50
80
33
425
201
0
48
12
0
0
0
3065641
0
0
0
0
0
0
0
0
1573853
0
0
0
0
0
2422362
2189385
0
0
0
0
0
0
101
0
0
0
0
0
0
0
0
26
0
0
0
0
0
50
83
0
0
0
0
0
541642
0
0
486300
46015
674900
0
194409
0
31831
0
568278
161161
341000
158604
105495
942800
0
262360
0
60000
61531
232926
361902
879986
14442
164981
-291874
-1139210
6019
147282
295480
105655
281132
722284
443855
109462
146748
190148
2545076
283735
-397228
470416
7150
212
Găgăuzia
Hristici
Brînzenii Vechi
Selişte
Bălăneşti
Rădulenii Vechi
Zberoaia
Caracui
Coşcalia
Grozeşti
Satul Nou
Holercani
Molovata
Jevreni
Mihăileni
Larga Nouă
Enichioi
Frumoasa
Glinjeni
Doltu
Zgărdeşti
Onişcani
Slobozia-Duşca
Ustia
Prodăneşti
Soroca
Teleneşti
Nisporeni
Nisporeni
Floreşti
Nisporeni
Hînceşti
Căuşeni
Nisporeni
Cimişlia
Dubăsari
Dubăsari
Criuleni
Rîşcani
Cahul
Cantemir
Călăraşi
Făleşti
Făleşti
Teleneşti
Călăraşi
Criuleni
Dubăsari
Floreşti
3076
1790136
372950
0
209679
247300
319797
115127
353838
82274
3402619
525020
0
4900484
4200
0
714994
112615
387817
9500
105550
607165
475375
519461
1
79
29
11
29
26
56
45
33
29
364
130
0
312
1
20
51
119
35
1
27
162
112
125
0
579240
0
39350
0
0
0
0
0
0
3536907
0
0
3920130
0
0
0
0
0
0
0
0
0
0
0
25
0
32
0
0
0
0
0
0
65
0
0
144
0
0
0
0
0
0
0
0
0
0
0
0
367000
0
170012
0
182750
53599
16300
73913
0
376562
0
700000
0
335443
184500
19360
220742
0
74000
0
428277
0
39495
1505279
73166
-127031
62851
190935
104133
89371
389762
16963
815089
235689
103022
1704822
17871
-378648
610816
181374
193073
20785
33175
696447
151652
513999
Cotiujenii Mari
Şoldăneşti
387900
123
0
0
162892
277951
165
SCA "Hristici"
SCA "Brînzenii Vechi"
SCA "Selişte"
SCA "Popinţeni"
SCA "Rădulenii-Vechi"
SCA "Zberoaia"
SCA "Caracui"
SCA "Coşcalia"
SCA "Grozeşti"
SCA "Satul Nou"
SCA "Holercani"
SCA "Molovata"
SCA "Jevreni"
SCA "Mihăileni"
SCA "Larga Nouă"
SCA "Enichioi"
SCA "Frumoasa"
SCA "Glinjeni"
SCA "Doltu"
SCA "Zgărdeşti"
SCA "Onişcani"
SCA "Slobozia-Duşca"
SCA "Ustia"
SCA "Prodăneşti"
SCA "Cotiujenii Mari
Credit"
SCA "Acces Rapid"
Coşerniţa
903515
138
0
0
464500
510186
166
SCA "Antoneşti"
Antoneşti
420507
54
0
0
242000
230643
167
SCA "Sevirova"
Sevirova
Floreşti
Ştefan
Vodă
Floreşti
20000
10
0
0
0
67727
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
213
168
169
170
SCA "Ştefăneşti"
SCA "W-Frumuşica"
SCA "Putineşti"
Ştefăneşti
Frumuşica
Putineşti
171
SCA "Nistru de Jos"
Talmaza
172
173
174
175
176
177
178
179
180
181
182
Corjeuţi
Gura Camencii
Visoca
Pelinia
Caşunca
Tartaul
Cărbuna
Săiţi
Ucrainca
Mărineşti
Duşmani
187
188
189
SCA "Corjeuţi"
SCA "Econom Fix"
SCA "Visoca"
SCA "Pelinia"
SCA "Caşunca"
SCA "Tartaul"
SCA "Cărbuna"
SCA "Sfîntul Nicolae"
SCA "Arsul"
SCA "Mărineşti"
SCA "Duşmani"
SCA "Frasin din
Popeasca"
SCA "Crihana Veche"
SCA "Colibaşi Credit"
SCA "Izvoraşul
Haiducului"
SCA "Nisporeni"
SCA "Albina"
SCA "Pituşca"
190
SCA "Valea Fînului"
Ermoclia
191
SCA "Geamna-Prim"
Răscăieţi
192
193
194
SCA "Plopi"
SCA "Vatici Credit"
SCA "Valea Leoanei"
Plop-Ştiubei
Vatici
Copanca
183
184
185
186
2833782
220000
330612
217
35
64
3096952
0
0
61
0
0
0
58188
188273
669821
214133
187961
310705
31
0
0
0
-22964
1694344
2392108
0
3354076
5880818
253978
65302
100000
8398
2109329
982373
129
164
23
422
642
21
38
24
4
144
103
922211
2819332
0
1506178
2841188
0
0
0
0
2518242
0
28
87
0
44
115
0
0
0
0
53
0
507000
0
0
641975
2487000
0
51723
0
0
0
789982
705784
374690
-166363
1490897
1395270
294513
32885
103955
7701
276100
296528
514276
75
0
0
310434
260884
Crihana Veche
Colibaşi
Floreşti
Floreşti
Floreşti
Ştefan
Vodă
Briceni
Floreşti
Soroca
Drochia
Floreşti
Cantemir
Ialoveni
Căuşeni
Căuşeni
Sîngerei
Glodeni
Ştefan
Vodă
Cahul
Cahul
1096612
787590
216
123
0
0
0
0
442470
345599
706504
505657
Tănătari
Căuşeni
764264
109
0
0
0
833914
or. Nisporeni
Sălcuţa
Pituşca
Nisporeni
Căuşeni
Călăraşi
Ştefan
Vodă
Ştefan
Vodă
Căuşeni
Orhei
Căuşeni
5000
327354
3646958
1
49
271
0
0
1315691
0
0
78
0
0
370978
39942
309948
2325618
1214197
169
0
0
1106100
436054
493906
109
0
0
244573
321474
2687057
486319
58940
243
69
14
1453477
0
0
53
0
0
541597
267360
0
921362
213467
29360
Popeasca
214
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
SCA "Corpaci"
SCA "Caracui-Har"
SCA "Cîrnăţenii Noi"
SCA "CiuciuleniCredit"
SCA "Valea Podului"
SCA "Fîrlădeni"
SCA "Cogâlnic"
SCA "Balasineşti"
SCA "Elizomon"
SCA "Izvorul Rece"
SCA "Drăguşul"
SCA "Credite din
Baraboi"
SCA "BleşteniVolodeni"
SCA "Eftodie"
SCA "AEIBE"
SCA "BaştinaMereşeni"
SCA "Goteşti"
SCA ''Faguras-Vadul lui
Isac''
SCA "Horja"
SCA ''Prim-Credit Rosu''
SCA ''Traian-Paşcani''
SCA ''Andruşanca''
SCA "Vişniovca"
SCA "Filipeni"
SCA ''Mărţişor-Văleni''
SCA "Sadîc"
SCA "Taraclia de
Corpaci
Baimaclia
Cîrnăţenii Noi
Edineţ
Căuşeni
Căuşeni
501852
180272
218304
120
44
27
0
0
0
0
0
0
184774
186764
-172
378864
143948
199707
Ciuciuleni
Hînceşti
3297262
218
2296000
88
0
1613678
Zaim
Fîrlădeni
Logăneşti
Balasineşti
Corjeuţi
Fundul Galbenei
Pereni
Căuşeni
Căuşeni
Hînceşti
Briceni
Briceni
Hînceşti
Hînceşti
621500
3137
717200
1089790
4534000
202300
154000
80
2
92
174
310
50
27
1779946
0
0
0
2584561
0
0
30
0
0
0
78
0
0
0
0
403425
524895
0
80026
0
-639186
40728
584530
657717
3506478
144871
245655
Baraboi
Donduşeni
646100
93
0
0
106643
521922
Bleşteni
Edineţ
1121135
75
1439999
52
0
427379
Andruşul de Jos
Brînzeni
Cahul
Edineţ
638459
391400
73
38
0
0
0
0
9977
250000
622273
259099
Mereşeni
Hînceşti
470852
77
0
0
0
541003
Goteşti
Cantemir
1065146
171
0
0
734222
423397
Vadul lui Isac
Cahul
5470458
394
3262617
48
2206500
1180528
Negrea
Roşu
Paşcani
Andruşul de Sus
Vişniovca
Filipeni
Văleni
Sadîc
Taraclia de
Hînceşti
Cahul
Cahul
Cahul
Cantemir
Leova
Cahul
Cantemir
Cahul
96000
636585
207765
397570
98070
239063
415841
299507
247328
38
109
39
19
24
45
71
34
33
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
59656
0
45704
134500
68000
0
35700
150000
0
41368
953577
297792
396541
61373
421395
427250
225908
250008
215
222
223
224
225
226
227
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
Salcie"
Salcie
SCA "Ţărăncuţa Credit"
SCA "Valea Vîlcului"
SCA "Burlăneşti"
SCA "GordineştiEdineţ"
SCA "Codreanca"
SCA "Cernoleuca"
SCA "Credite din
Corbu"
SCA "Hlina"
SCA "Credite-Larga"
SCA "Legenda"
SCA "Plop"
SCA "Credite-Pererita"
SCA "Valul lui Traian"
SCA "Agrocredit"
SCA "Credite-Trinca"
SCA "Primcredit"
SCA "Botna"'
SCA "Gura Bîcului"
SCA "Hîrtopul Mic"
SCA "Recea"
SCA "Triumf"
SCA ''Horăşti''
SCA "Maşcauţi"
SCA "Valea Dorului"
SCA "Horodişte Credit"
SCA "RăspopeniCredit"
SCA "Cogîlniceni
Credit"
Ţărăncuţa
Bujor
Burlăneşti
Cantemir
Hînceşti
Edineţ
Gordineşti
Edineţ
Stolniceni
Cernoleuca
51956
8407015
1016171
27
674
79
0
5776631
0
0
866
0
0
1536216
730650
60366
2356844
348097
0
14
0
0
0
-38515
Hînceşti
Donduşeni
129000
3523146
12
258
0
1347700
0
33
0
1543758
278535
996017
Corbu
Donduşeni
372110
109
0
0
209950
113173
Hlina
Larga
Logăneşti
Plop
Pererita
Ursoaia
Tabani
Trinca
Viişoara
Costeşti
Gura Bîcului
Hîrtopul Mic
Recea
Tătăreşti
Horeşti
Maşcăuţi
Podgoreni
Horodişte
Briceni
Briceni
Hînceşti
Donduşeni
Briceni
Căuşeni
Briceni
Edineţ
Edineţ
Ialoveni
Anenii Noi
Criuleni
Străşeni
Străşeni
Ialoveni
Criuleni
Orhei
Rezina
1377885
4636850
505700
811400
1146350
387800
2826935
1320254
3022556
17821189
878200
199116
0
728833
2269195
598515
67100
0
164
431
46
99
122
83
231
119
322
612
68
65
174
60
155
49
12
13
0
1769100
0
0
0
0
0
0
1458900
14349519
0
0
0
0
1843817
0
0
0
0
72
0
0
0
0
0
0
19
1392
0
0
0
0
225
0
0
0
899692
1746253
364893
600141
523708
27787
1731648
560900
744373
0
260192
0
0
392223
327000
342000
0
0
608229
2007335
200612
265603
1010216
364281
1347671
846999
1134122
10570310
707063
410656
75288
501543
523055
397810
70561
-11850
Răspopeni
Şoldăneşti
440100
44
0
0
208154
328998
Cogîlniceni
Rezina
366500
54
0
0
293159
94354
216
249
250
251
252
253
254
255
256
257
258
259
260
261
262
263
264
265
266
267
268
269
270
271
272
273
274
275
276
277
278
SCA "Susleni"
SCA "Pohrebeni Credit"
SCA "Valea Teiului"
SCA "Andrieş-Credit"
SCA "CiocîlteniCredit"
SCA "Tutunarii"
SCA "Izvorul"
SCA "Mătrăşanca"
SCA "Puţintei"
SCA "Muşeţel"
SCA "Lumina Credit"
SCA "Cucuruzeni
Credit"
SCA "Unirea-Căzăneşti"
SCA "Pădureanca"
SCA "Scala Corbului"
SCA "Diaconiţa"
SCA "Doibăniţa"
SCA "Cobîlea"
SCA "Ghiduleni"
SCA "Trifan Credit"
SCA "Sămăşcani"
SCA "Şipceanca"
SCA "Prometeu"
SCA "Izvoraş Credit"
SCA "Fuzăuca"
SCA "Pistruieni"
SCA "Rural Credit"
SCA "Vadul-Raşcov"
SCA "Valea Nistrului"
SCA "Alcedar-Credit"
Susleni
Pohrebeni
Chiperceni
Sirota
Ciocîlteni
Voroteţ
Tabăra
Bieşti
Puţintei
Jeloboc
Jora de Mijloc
Orhei
Orhei
Orhei
Orhei
Orhei
Orhei
Orhei
Orhei
Orhei
Orhei
Orhei
197519
0
0
92897
626697
79800
596542
347128
317564
802272
25000
41
0
7
41
138
31
88
32
60
101
2
295900
0
0
0
0
0
0
0
0
0
0
11
0
0
0
0
0
0
0
0
0
0
0
0
3263
54350
273622
0
296076
245877
151519
573469
0
179764
103179
-68984
77518
420307
93973
341178
165071
206401
317207
42172
Cucuruzeni
Orhei
391300
49
0
0
225155
196818
Căzăneşti
Ţahnăuţi
Trebujeni
Şestaci
Ţareuca
Cobîlea
Ghiduleni
Trifeşti
Sămăşcani
Şipca
Mateuţi
Buşăuca
Fuzăuca
Pistruieni
Step-Soci
Vadul-Raşcov
Tarasova
Alcedar
Teleneşti
Rezina
Orhei
Şoldăneşti
Rezina
Şoldăneşti
Rezina
Rezina
Şoldăneşti
Şoldăneşti
Rezina
Rezina
Şoldăneşti
Teleneşti
Orhei
Şoldăneşti
Rezina
Şoldăneşti
39167
80082
351048
82000
29404
476837
293500
183960
415500
85000
390562
159175
277252
11057
9538173
142203
253991
3400
10
29
85
3
8
78
61
41
52
7
63
54
43
6
883
34
43
24
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5370840
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
72
0
0
0
0
0
114990
72000
0
101917
16500
80500
0
0
0
0
213884
0
2859624
75882
226655
0
76634
42355
243959
256462
16880
416491
308460
117030
424121
99030
459917
164276
82337
63373
2569282
67389
49224
111287
217
Cuşmirca
Chipeşca
Ineşti
Ignăţei
Teţcani
Chetrosu
Cotova
Şoldăneşti
Şoldăneşti
Teleneşti
Rezina
Briceni
Drochia
Drochia
57100
0
529122
126614
588800
3874208
554399
8
0
125
24
63
411
42
0
0
0
0
0
3084632
0
0
0
0
0
0
63
0
0
0
363284
0
94022
226167
173208
32277
47466
268425
135994
662329
1318677
263363
Mîndîc
Drochia
1322163
168
1496481
68
0
90778
Cosăuţi
Zguriţa
Şeptelici
Bulboci
Marinici
53134
347400
140610
156325
363094
12
59
58
25
75
0
0
0
0
0
0
0
0
0
0
0
0
61450
312000
0
6356
363016
99736
126750
381732
501434
101
0
0
279188
274122
Tocuz
Lipnic
Manta
Oneşti
Soroca
Drochia
Soroca
Soroca
Nisporeni
Ştefan
Vodă
Căuşeni
Ocniţa
Cahul
Hînceşti
86159
0
4935175
1062081
20
0
604
124
0
0
4991826
0
0
0
91
0
0
0
0
566471
112872
66225
1118501
713117
Bogzeşti
Teleneşti
214200
28
0
0
111256
123758
Nucăreni
Teleneşti
447804
89
0
0
275000
237236
Sărătenii Vechi
Teleneşti
884487
128
0
0
896289
235843
300
301
302
303
304
SCA "Cuşmirca"
SCA "Chipeşca"
SCA "Scînteia Ineşti "
SCA "Împrumutul"
SCA "Teţcani"
SCA "Chetrocredit"
SCA "Cotova"
SCA "Succesul
Fermierului"
SCA "La Căsuţi"
SCA "Zguriţa"
SCA "Eco-Clas-Credit"
SCA "Bulboci"
SCA "Marinici"
SCA "Glia din
Crocmaz"
SCA "Pomuşor"
SCA "Bani-Garaprim"
SCA ''Columna Manta''
SCA "Oneşti-Credit"
SCA "Ştefan-VodăBogzeşti"
SCA "Nucăreni"
SCA "Victoria-Sărătenii
Vechi "
SCA "Băneşti"
SCA "Văsieni"
SCA "Vălcineţ"
SCA "Sipoteanca"
SCA "Iurceni"
Băneşti
Văsieni
Vălcineţ
Sipoteni
Iurceni
554500
132120
944300
68908
254400
53
60
90
66
48
0
0
0
0
0
0
0
0
0
0
22
56514
500939
0
21226
812727
139965
434406
84061
273129
305
SCA "Olăneşti"
Olăneşti
Teleneşti
Ialoveni
Călăraşi
Călăraşi
Nisporeni
Ştefan
Vodă
60000
23
0
0
33608
29968
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
299
Crocmaz
218
306
SCA "Purcari"
Purcari
307
SCA "Chioselia-Rusă"
Chioselia Rusă
308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324
325
326
327
SCA "Cociulia"
Cociulia
SCA "Vaiba-Com"
Gura Camencii
SCA "Chişcăreni"
Chişcăreni
SCA "Musteaţa"
Musteaţa
SCA "Brăviceni Credit" Brăviceni
SCA "Mileştii Mari"
Mileşti
SCA "Limbenii Noi"
Limbenii Noi
SCA "Microfin"
Chişinău
SCA "Făleştii Noi"
Făleştii Noi
SCA "Cobani"
Cobani
SCA "Cajba"
Cajba
SCA "Prut-Văratic"
Văratic
SCA "Voşca"
Sănătăuca
SCA "Soroca"
Soroca
SCA "Giurgiuleşti"
Giurgiuleşti
SCA "Business Credit"
Căuşeni
SCA "Rezina Credit"
Rezina
AEI "Călugăr"
Călugăr
SCA "Corlăteni"
Corlăteni
SCA "Mîndreşti"
Mîndreşti
TOTAL
Ştefan
Vodă
UTA
Găgăuzia
Cantemir
Floreşti
Sîngerei
Făleşti
Orhei
Nisporeni
Glodeni
Chişinău
Făleşti
Glodeni
Glodeni
Rîşcani
Floreşti
Soroca
Cahul
Căuşeni
Rezina
Făleşti
Rîşcani
Teleneşti
10250
3
0
0
0
-954
0
0
0
0
0
0
322513
0
802675
59460
43595
229770
342000
1121230
191840
546570
1741031
425364
53900
6105536
1074450
1320157
2052419
49263
4564833
2621895
331 918 688
22
30
60
8
51
40
36
49
44
69
207
6
117
652
100
235
195
7
447
198
34 620
0
0
0
0
0
0
0
775077
0
0
0
554755
0
5658333
0
1250281
1818041
0
360891
2703100
159 229 070
0
0
0
0
0
0
0
7
0
0
0
9
0
68
0
12
33
0
9
52
5 790
104198
0
0
60000
7060
80986
217000
0
0
391009
1075059
2476474
0
0
959178
0
0
0
3684382
0
105 395 192
236409
-20599
927449
181792
97978
171463
144518
771928
276797
221581
757101
-2479929
87879
2566696
163546
427747
656816
240812
894351
534600
122 518 480
219
Annex No.40
Basic indicators on microfinance organization activity, end of 2013, Mdl
No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Name of MO
I.C.S. "Credit Rapid"
LLC
OM "Instant-Credit"
LLC
I.C.S. "First Financing
Grup" LLC
O.M.F. "Agur Invest"
LLC
O.M.F. "SMS Credit"
LLC
O.M.F. "Credit-Profit"
LLC
O.M.F.
"Priminvestnord" LLC
OM "Kirsan Invest"
LLC
I.C.S. "Iute Credit" LLC
O.M.F. "Visreal Prim"
LLC
OMF "Credit Nobil"
LLC
O.M.F. "Micro-FinCredit" LLC
O.M.F. "Creditera"LLC
O.M.F. "HML
Company" LLC
I.C.S. "Prime Capital"
LLC
I.M. "Prime Capital 2"
LLC
I.C.S. "Excelent
Finantare" LLC
"Corporatia de Finantare
Rurala" JSC
I.C.S. "Easy Credit"
LLC
O.M.F. "Capital &
Credit" LLC
O.M.F. "CreditPlus"
LLC
O.M.F. "Credite Pentru
Toti" LLC
O.M.F. "Invest Credit"
LLC
I.M.O.M.F.
"Microinvest" LLC
O.M.F. "Premium
Invest" LLC
Granted loans
Received
loans and
bank credits
259871550
254873676
190632200
22863367
61483951
90983
0
90000
-4417
983
11363639
11006659
7250781
-158636
-1482602
1457094
1258925
1395674
1623
28351
2692863
3087373
1106402
-415259
1559376
34049525
26010996
30948956
86154
2482764
12988754
10742934
8891571
983904
3611442
44768778
44611812
43378308
603064
608360
51548202
49389088
35886829
3140693
13112635
93763
0
0
746
93763
7102520
7086952
6809199
277547
275596
70121
97188
450
8946
69671
637080
13962565
4808371
-339454
-4179113
9582038
6253350
2548020
-1806598
6925372
351736477
341840878
81205717
52797931
259732867
84112204
78716750
0
12791308
82182330
161345
101545
0
27535
-105295
270027287
202037854
142452929
14649024
124338894
171681572
139316030
88677622
31099367
75891305
2278966
2192756
2317793
-4179
-55467
2787343
1745546
1796970
359961
147577
2963910
3010025
0
933543
2560670
26165969
20102804
9083363
3083343
15991947
369319835
231039394
231789941
10173222
132263170
3874185
3056679
3840998
-261227
-642754
Total assets
Net profit
(net loss)
Equity
220
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
O.M. "Creditbun"
I.C.S.O.M. "Express
Leasing"
I.M.O.M. "Moldcredit"
OM "Victoria Credit"
O.M.F. "Unicredit"
S.R.L.
O.M. "Creditactiv"
S.R.L.
OM "Bravo Credit"
LLC
O.M. "Ideal Credit"
LLC
OM "A.V. Capital" LLC
O.M.F. "Smart Credit"
LLC
O.M.F. "Direct Credit"
LLC
OM "David Credit"
LLC
OM "Credite pentru
tine" LLC
OM "Alo Credit" LLC
OM "Just Credit" LLC
OM "ASA Business
Consulting" LLC
LLC "Proalcons Grup"
OM "Finarsenal" LLC
O.M.F. "Dinar-Capital"
LLC
O.M. "Finperfect" LLC
O.M. "Minicredit" LLC
OM "Credit Fort" LLC
O.M. "Personal Credit"
LLC
O.M."Credit Perfect"
LLC
OM "Expres Urgent
Credit" LLC
O.M. "DTD-Vest" LLC
OM "Tehnotot Com"
LLC
OM "Ideea Credit" LLC
OMF "Microcapital"
LLC
IMOM "MSA Finance"
LLC
OM "Premier Finantare"
LLC
OM "Benefic Credit"
LLC
OM "A.S. Credit" LLC
O.M. "Creditcons" LLC
2324921
2146062
393300
602224
1826207
174355834
160038709
64349309
13543782
103709877
35278848
268503
33615839
276012
22902423
220000
1788971
41387
12006678
47327
963851
824035
200400
156437
691345
6597877
6329633
1495778
1680690
5071408
962377
383800
0
210402
803261
707523
229205
0
60102
705812
599540
552270
233800
124942
361426
8538909
7367074
6746796
682123
1721324
641450
557807
100000
-10183
-141250
2366859
2421545
2056600
285989
280503
1525439
1508533
0
224782
460439
1427722
3191482
1011026
3252487
0
2897205
71235
246878
1183108
251887
1503743
1356929
1456174
34226
46945
220725
17652092
41500
350000
0
16068000
23454
1348286
321
1542537
4959413
4487521
4165461
96492
552278
14258
640015
357853
14230
619319
287451
0
615000
215000
-105
9944
142863
10771
17104
139734
1284295
657412
155750
450955
1090776
2388233
2317359
1248377
521993
1136822
331755
188300
0
-338700
47109
245550
225600
0
103479
70289
163698
147552
302215
-79501
-200757
4278847
4051051
379000
-36008
3333366
937852
727621
802280
123564
128360
1537809
1193416
763689
188414
690547
4998119
4613524
0
1296050
1380982
3613265
3334632
1725000
445246
502955
800965
158455
720035
92700
229960
0
381387
-3941
565267
1459
221
60
61
62
63
64
65
66
67
68
O.M. "Elit-Credit" LLC
O.M. "Direx Pro" LLC
O.M. "Credit CMB"
LLC
O.M. "Cere Credit" LLC
I.C.S. "Total Leasing &
Finance" JLC
O.M.F. "Credit Expert"
LLC
O.M. "Delta Credit"
LLC
O.M. "REAL CREDIT"
LLC
O.M. "Realty Capital"
LLC
TOTAL
0
205273
0
151580
0
0
0
81568
0
67530
7035606
5093466
7906668
-1376762
-1129024
299604
295135
0
53188
299604
474149517
173916523
228153365
23431005
104605546
1203778
1086470
1160000
-12786
-7386
4049095
3618873
4165200
-323178
-248366
896420
883452
0
200876
206276
14317417
14519227
14430072
-163894
-158494
2509420 790
1897046694
1280448916
197199384
1020567696
222
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Annual Report 2013