|Yesterday, May 22, 2006 in the city of Montebelluna (province of Treviso, Italy) the General Meeting of Shareholders of the JSCB “Eximbank” was held. The Meeting examined the financial results of the Bank activity in 2005.
During the Meeting it was emphasized that the Bank has reached the main targets set by the business plan for the year 2005. Total assets of the Bank have been increased by 230, 5 million lei (35,5 %) up to 882, 9 million lei; the loan portfolio has grown by 180,3 million lei (49,5 %), reaching by the end of the year 544,8 million lei; the attracted deposits increased by 219,3 million lei (42,9 %) up to 731, 1 million lei, including the increase of 57,9 million lei (30,1%) from legal entities and banks and 161.4 million lei (50, 5%) from individual depositors, reaching thus by the end of the year, respectively, 250,0 million lei and 481,1 million lei.
In accordance with the decision of the General Meeting of Shareholders the net profit of the Bank, generated in 2005 which equals 3, 41 million lei was distributed in proportion of 5 per cent or 0, 17 million lei for increase of the Reserve Fund and 95 per cent or 3, 24 million lei as retained profits.
The Meeting has examined and approved the annual reports of the Board of Directors, the Audit Committee, and the Report of the Bank’s President. The Meeting has approved modifications of the Internal Regulations on the Board and the Audit Committee and the working plan of the Audit Committee for the year 2006. The Meeting has approved the new composition of the Board of Directors of Eximbank.
In order to comply with the new requirements of the Law on Financial Institutions, the General Meeting of Shareholders has approved the introduced modifications which changed the legal and organizational form of the Bank from a closed Joint Stock Company to an open Joint Stock Company.
In accordance with the business plan for the year 2006 the shareholder has approved opening of new branches of the Bank both in the capital and throughout the country, together with corresponding modifications to the By Laws.
KPMG – Moldova was approved as the auditing company of the Bank for 2006.