OREANDA-NEWS. July 28, 2009. The central authorities have paid special attention to the banking system, took measures to support and stimulate its development over the last years. They were exigent, but, at the same time, they ensured its protection against the foreign competition till a certain time. And this policy towards the banks is to be further promoted too.

President Vladimir Voronin today made statements to this effect at the inauguration of the Central Office of Banca de Economii (Savings Bank) after reconstruction.

The head of state said that the central authorities, taking advantage of the state's shares in Banca de Economii, in a very short time, literally in a few days, managed to settle a problem which threatened to provoke the so-called "domino effect" in the entire system.

At the same time, with the authorities' help, over 6,000 citizens out of those 7,000 ones who entrusted their money to an insolvent bank, have already solved this problem. The head of state said that the settlement of this problem is made in the conditions of a severe crisis and not in a calm situation, as the one when the old authorities looked with indifference and cynicism how people were robbed by GhineeaBanc, Intreprizbanc or Intercapital. But in the case of the Ghineea bank, the authorities managed to settle the situation as well, Vladimir Voronin said.

The head of state appealed to the leaders of the financial institutions and bankers, who attended the event, to be active from the economic viewpoint, and prove interested attitude towards the clients' needs. One should have in view that in a country where barter and mutual compensations flourish, and where salaries and paid "in kind", it would seem that the banks are no longer necessary, the president said.

"Certainly, the storage of galoshes or detergent in storehouses could be accepted too, but in this case, what the crediting resources would be made from and what the interests to the deposits would be paid from? the head of state wondered. Vladimir Voronin said that this fact should be taken into consideration when one compares "the wicked 1990s" with the present time.

The Banca de Economii has over 480 subsidiaries all over Moldova now, and ranks first among the Moldovan banks in terms of size of the territorial network. The banc has the largest network of branches and agencies, and is the first bank of Moldova which implemented the "intranet" and "on-line" applications.