Deposits of individuals in the Moldovan banking system have increased 15.5 times over the last almost 20 years - up to 59 billion 017.8 million lei at the end of 2022.
Such data were presented during a hearing in parliament of the Report on the activities of the Deposit Guarantee Fund in the banking system for 2022. The document contains information on the activities of the Fund over the past year, on the management and supervision of its activities, deposits of individuals in banks, as well as funds financial means and ways to manage them. As noted, the Fund’s resources intended to guarantee deposits amounted to 941.5 million lei at the end of last year. Deposits of individuals in the banking system since the creation of the Fund have increased 15.5 times - from 3 billion 794.3 million lei in 2004 to 59 billion 017.8 million lei in 2022. Guaranteed deposits, in turn, have increased over the specified period more than 25 times - from 740.5 million lei to a record level of 18 billion 679.9 million lei. According to the report, at the end of 2022, deposits of individuals and legal entities opened in commercial banks amounted to 92 billion 886.6 million lei, up 5.13% compared to 2021. Of their total volume, the share of individuals amounted to 63 .9%, and legal entities – 36.1%. At the end of 2022, the share of guaranteed deposits of up to 50 thousand lei amounted to 42.37%. Since the creation of the deposit guarantee system in Moldova, the size of the guarantee ceiling has increased from 4,500 to 6,000 lei in 2009, and later increased to 20 thousand lei in 2018. Since the beginning of 2020, the guarantee level in the banking system is 50 thousand lei, and from January 1, 2025 it will increase to 200 thousand lei. The Commission on Economy, Budget and Finance recommended that the Deposit Guarantee Fund in the banking system respect the rights of depositors and guarantee the continuity of the process of guaranteed payments on deposits in three banks that are in the process of liquidation - Banca de Economii, Banca Socială, Unibank-e, and in the liquidated bank - Universalbank. The Commission also instructed to ensure the continuity of the process of bringing the regulatory framework in the region in accordance with best international practices and to ensure the availability of financial resources necessary to satisfy the payment requirements of individuals and legal entities. //27.11.2023 - InfoMarket.
