SocGen's Moldovan Unit 9-mo Net Profit Almost Unchanged Y/Y

Mobiasbanca had a 9.51% share of the Moldovan banking market at the end of September, ranking it fourth among banks operating in Moldova, the bank said in a statement.

"The obtained results achieved by Mobiasbanca - Groupe Societe Generale at the end of the third quarter reflect the trend of growth and development, in the context of careful monitoring of the quality of risks," Mobiasbanca said.

The bank's assets grew by 43.5% from the beginning of the year to 3.74 billion lei at the end of the third quarter. The volume of loans in January-September was 62.3% higher at 689.7 million lei, the bank said.

"The solid growth recorded at the end of the first nine months is based on the implementation of appropriate commercial policy on the retail market, as well the corporate market," Mobiasbanca president Jean Francois Myard said in the statement.

SocGen Groupe holds 67.85% of Mobiasbanca. Romanian bank BRD, SocGen's Romanian unit, holds 20%. The European Bank for Reconstruction and Development (EBRD) owns 8.84%.

(1 euro=13.5486 Moldovan lei)