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Bank Financial Performance Report for Q4 2025

There is a paradoxical situation in the municipal council. Since December 3, attempts have been made to hold a meeting, but it cannot not only take place, but even close due to the lack of quorum. Therefore, the meeting is constantly postponed. Even more paradoxical is the fact that about a month has passed since the last, ninth attempt to approve the municipality’s budget for 2025. But neither it, nor the budget for the next year 2026 is discussed in the council today.

The National Bank publishes the annual report “On Financial Stability”. The experts confirmed the resilience of the Moldovan financial system and its ability to support the real economy, while pointing out the systemic vulnerability to external threats, among which geopolitics and macroeconomics play a major role.

A threefold increase in any indicator in the banking market can hardly be considered an ordinary event. This also applies to the National Bank’s increase in the countercyclical capital buffer rate for exposures from loans in Moldova from 0.5% to 1.5% of the total value of the exposure to risk. This wording seems complicated to explain, but it is not difficult to understand.

The Moldovan Parliament adopted in the second reading amendments to the Law on State Budget for 2025, increasing its deficit by 304.6 million lei (+1.7%) – up to 18 billion 211 million lei.

A bill that hands the president of Moldova the final decision to recall the leadership of the National Bank has sparked controversy in parliament. Opposition MPs warned that the National Bank could now find itself outside the “orbit of the country and parliament”.

The stock option plan program was approved by the parliament last year, but it has not been in effect so far due to the lack of regulations with a written procedure for its application. This has been repeatedly pointed out by representatives of the business community. The Ministry of Finance has developed a relevant regulation on the Long-Term Incentive Program (stock option plan).

Large-scale tax reforms in Moldova are planned for 2027 to ensure that they are properly prepared, consulted with the business community, and are stable and predictable for entrepreneurs. For 2026, the Ministry of Finance intends to promote less complex and precise, but positively affecting business adjustments. And in the short term – to extend and make permanent the mechanism for deferring income tax payment until dividends are withdrawn, at least for certain categories of business entities.

In the new episode of the National Bank of Moldova’s “The Meaning of Money” podcast, the NBM Governor Anca Dragu and International Finance Corporation representative Galina Cicanci discuss why the ability to save is becoming the foundation of personal independence, how financial discipline is formed, and what role women and digitalization play in this process.

Despite the fact that the country’s cryptocurrency legislation is under regulation, blockchain-based financial transactions are making their way into Moldovan life and practice in various ways.

This year’s fall has been fruitful for forecasts of the country’s economic development. Updates followed from both international partners – IMF, WB – and local experts. All of them show cautious optimism about overcoming stagnation. However, they are unanimous that sufficient recovery growth should not be expected.

The Executive Committee of the National Bank of Moldova at its meeting on November 6 unanimously decided to keep the prime rate at the current level, reducing the mandatory reserve requirements for banks
