Moldova’s Non-Bank Lending Sector Grows 4% as Business Financing Rises

Businesses prefer non-bank loans

In mid-2026, the non-bank financial sector’s aggregate loan portfolio showed steady growth of 4 per cent. This figure was the same for both market segments — non-bank lending organisations (OCN) and savings and loan associations (ACA). The main driver of this positive trend was the active expansion of financing for legal entities.

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However, the credit portfolio quality indicators for the two types of lenders diverged. In the OCN segment, a deterioration in asset quality was recorded: the proportion of non-performing loans (NPLs) rose by 0.9 percentage points compared with the previous quarter.

In the ACA segment, by contrast, a positive trend emerged: the level of non-performing loans fell slightly – by 0.2 percentage points.

Experts note that despite the overall market growth driven by the corporate sector, non-bank organisations (OCNs) will soon have to review their approaches to risk management due to the rising proportion of non-performing loans.

The NBM’s Financial Stability Report for the second quarter provides a related indicator: the volume of loans granted by commercial banks to the non-bank financial sector stood at 4,195.7 million lei as at mid-2026, an increase of 6.3 per cent.

This story was translated with the assistance of artificial intelligence.

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