OREANDA-NEWS. May 11, 2009. The General Meeting of Shareholders of CB "Mobiasbanca – Groupe Societe Generale” S.A. took place. At the Meeting were presented the bank’s results in 2008 and prior development vectors for 2009, reported the press-centre of Mobiasbanca.

The obtained results by Mobiasbanca – Groupe Societe Generale in 2008 reflect the growth and development trend in the framework of careful quality risks monitoring. "The registered solid growth in 2008 is due to the implementation of appropriate commercial policy, both at the retail market level, as well as regarding the corporate market. Meanwhile, the growth is carefully calibrated, based on a strict application of the risk tracking principles in a relatively difficult market”, said Jean-Francois Myard, president of the bank.

In 2008 the Bank's total assets increased, comparing to the last year, by 44% (absolute increase of 1,137 billion), reaching 3,745 million lei. The Bank has increased its assets market share with 1.4 percent to 9.6%, becoming the bank number IV on the Moldovan market.

These results were achieved mainly due to the loan portfolio growth, which have increased by 39% (623.8 thousand lei) during the 2008. Due to a more favourable position, to liquidity availability and to financing expansion of Societe Generale, Mobiasbanca showed a growth rate much higher compared to its competitors.

During the year 2008 loan portfolio registered a steady growth in all segments of customers with a prior trend in lending to individual customers, which exceeded its share of over 30% of the total amount granted in the banking system.

In 2008 was registered a significant increase in bank’s shareholder equity and the entry of new strategic partners such as the European Bank for Reconstruction and Development and BRD – Groupe Societe Generale.

During 2008 the Bank signed an agreement as principal member with Mastercard, which has expanded Bank’s card business opportunities. The number of ATMs was doubled compared with 2007 and the intense development of the park will be continued in 2009 as well.

During 2008 was pursued integration of the bank by aligning the bank's procedures and practices on SG 's ones.

The biggest changes have occurred in the commercial approach to developp a client oriented organization. So the bank’s network was reorganized, 6 groups were implemented each of them covering a part of the territory and fully dedicated to sales. Then a separate and centralized back office was created to manage all after sales services. In addition concept of '' Universal counter '' was implemented in each branch in order to improve quality of service and efficency, all transactions being now performed at the same counter.

The second consecutive year Mobiasbanca – Groupe Societe Generale is nominated as the most active financing trade bank in Moldova. This award is recognition of our efforts to support successful businesses in Moldova.

Return on assets (ROA) for 2008 was 2.3% and return on shareholder equity (ROE) – 16.3%. Net banking income was 311 million lei, increasing by 20.3% compared to the previous year, being a result of an efficient internal management. Net profit for 2008 reached a figure of 73.44 million lei, overpassing (surpassing) the forecasts by 18%.

Bank shareholders have decided the profits obtained by Mobiasbanca in 2008 to be fully allocated for its development and not distributed.

General Meeting of Shareholders also made some amendments and completions to Bank’s regulations, including the Statute of the Bank in order to align to the legislation and to the Societe Generale Group standards. General Meeting of Shareholders also re-elected a new Bank Council member (Frederic Aubet) in relation to Mr. Hubert Pillet withdrawal.

The company Ernst & Young LLC was approved as external auditor for 2009.

Mobiasbanca Group is part of Groupe Societe Generale since 2007. Societe Generale Group is one of the leading financial services group in Europe , operating in 82 countries and employing 163 082 staff from 122 different nationalities. The group is organized around five core business : French Networks, International Retail Banking, Financial Services, Global Investment Management and Services, Corporate and Investment Banking.The universal banking model of Societe Generale proved to be sound ensuring the Group's performance despite the economic turmoil.