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Moldovan lender's temporary administration extended

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Moldovan lender's temporary administration extended

The mandates of special administrators at BC Moldindconbank SA were extended for three months by the Banca Nationala a Moldovei, the Moldovan central bank.

The mandate was not extended for Nicolae Dorin, the president of the Association of Moldovan Banks and one of the special administrators at Moldindconbank, the central bank said. A replacement will be named in the near future.

The supervisor placed the bank under special administration in October 2016 following concerted shareholder activity without regulatory permission. The bank is operating normally, the regulator noted.

Moldindconbank, a lender dogged by legal problems, is seeking a buyer.