Moldova banking sector sees 95% of assets managed by European-owned banks

The National Bank of Moldova (BNM) reports that approximately 95% of banking sector assets are managed by banks with European ownership. Governor Anca Dragu stated that the sector is well-supervised, liquid, and robustly capitalized, noting that alignment with European standards through SEPA integration enhances investor confidence and facilitates cross-border payments.

Marking one year since operational connection to the Single Euro Payments Area (SEPA), the BNM highlighted that the system has become the primary channel for euro cross-border transactions. This integration has reportedly saved citizens and businesses over 16 million euros by providing faster, more secure, and lower-cost transfers. Currently, nearly 80% of transactions are conducted via SEPA.

Regarding recent currency fluctuations, the Moldovan leu has shown mixed performance. On October 6, the leu appreciated slightly against the euro but weakened against the US dollar. The official exchange rate for the euro was set at 20.084 lei, while the US dollar was 17.9297 lei.