FinComBank

About the Bank

Finance and Trade Bank FinComBank JSC is one of the leading universal banks of the Republic of Moldova. FinComBank provides a wide range of corporate and investment banking services to Moldovan and foreign clients. Its client base is comprised of representatives from all major sectors of the economy, with the vast majority possessing excellent international export experience . FinComBank’s 15 branches and 57 rep. offices are located in Chisinau, Anenii Noi,  Balti, Briceni, Cahul, Comrat, Donduseni, Drochia , Edinet, Floresti, Glodeni, Hincesti, Ialoveni, Orhei, Rezina, Riscani,  Soroca, Ungheni and Vulcanesti.

As of June 30, 2009 the Bank's total assets amounted to MDL 1.7 bln., authorized capital - MDL 339.3 mln.  loans and financial leasing – MDL 948.0 mln, and deposits - MDL 918.4 mln.

BACKGROUND INFORMATION

FinComBank was established in July 1993 as a joint-stock company. The Bank holds the  license issued by the National Bank of Moldova.

At present, the Bank has 131 shareholders, 600 employees, and over 95.0 thousand clients.

FinComBank has always been a pioneer in introducing new products and services. In 1995 it became the first bank in Moldova to offer services related to VISA, Diners Club and Europay International credit cards. In 2000 it became a principal member of Europay International and in 2001 an associated member of VISA International. In summer of 2005 FinComBank introduced FinComPay online system which allows making payments for utilities trough Internet with banking cards (www.fincompay.com).

Today FinComBank also cooperates with international payment systems WESTERN UNION Anelik, Bystraia Pochta, Unistream, Contact and Zolotaya Korona.

In 2001 with the technical assistance of RABO International Advisory Services (RIAS)BV, a subsidiary of Rabobank International, FinComBank made critical changes in its organizational structure in order to better and effective serve its clients.

As result of its financial strength and stability, FinComBank was selected to be a participating bank in the World Bank Small and Medium Sized Enterprise Credit Line, USAID Program of Microenterprise and Small Business Development, The Citizens Network for Foreign Affairs' Mortgage Lending Program. In 2002 FinComBank signed Loan Agreement with the International Finance Corporation (IFC), became a member of Rural Finance and Small Enterprises Development program sponsored by International Fund of Agriculture Development (IFAD) and Rural Investment Services Program (RISP). Active participation in these projects made the Bank possible to sign new contracts and agreements in 2005-06.

In August 2007 widely well-known venture Western NIS Enterprises Fund (WNISEF) became one of the major shareholders of FinComBank after purchase of 25 percent of the bank’s shares.   In November of the same year FinComBank received a USD 5 million micro- and small-enterprises (MSE) loan from European Fund for Southeast Europe (EFSE).  In June 2008 the WNISEF Board of Directors approved issue of a USD 5 million loan to FinComBank for 5 years. In February 2009 FinComBank signed a contract with the Overseas Private Investment Corporation (OPIC) providing the Bank a 10-year $6 million loan for Small and Medium Enterprises (SME) financing.     

The Bank is one of the founders of the Banking Association of Moldova and the Moldovan Stock Exchange and a member of the American Chamber of Commerce in Moldova (AmCham).

FinComBank

Close