Moldova ranks third on GDP's assets value top in CIS

The Moldovan banking system ranks the eighth among the Commonwealth of Independent States, on the top of assets value of the Gross Domestic Product (GDP), according to a study of the assessment agency RIA Rating.

Having its GDP assets amounting to 58.8 per cent, Moldova is exceeded by Ukraine and Russia and surpasses other eight member states of the CIS. Ukraine holds the biggest share of banking assets of the GDP, amounting to 80 per cent, whereas Russia's share of banking assets of the GDP amounts to 69.9 per cent.

With the assets value amounting to 1140 dollars per capita in 2011, Moldova ranks the seventh in this sector, whereas it ranks the fifth by its number of banks per one million citizens. Moldova has recorded one of the biggest increases in the banking assets in the first half of 2012, amounting to 7.4 per cent, being outrun by Georgia (13.1 per cent), Uzbekistan (12.2 per cent) and Kirghizstan (12.1 per cent).

Given the limited resources of the national economy, Armenia, Georgia and Moldova counted on the development of the banking sector with the help of foreign investments and money deposits transferred by citizens working abroad. The authors of the study, who reached this conclusion, note the bank.

Adapted from Moldpres