The National Bank of Moldova’s 2025 Financial Stability Report finds that strong capitalization, liquidity and profitability continued to support financial stability, despite external, inflationary and fiscal vulnerabilities. Banking assets rose 11.6%, aggregate profit increased 23.6% and the liquidity coverage ratio reached 296.2%, with prudential indicators remaining above regulatory requirements. Bank lending grew 26.7%, including a 35% increase in household credit, shifting credit risk toward retail and property lending even as aggregate risk remained manageable. The report also identifies vulnerabilities from nonbank lenders’ portfolio quality and foreign currency funding, weaker insurance profitability, and growing climate, cyber and third-party technology risks. The central bank maintained its capital conservation and systemic risk buffers and, in response to credit growth, set a gradual increase in the countercyclical capital buffer for 2026. It also revised responsible lending rules to align requirements for banks and nonbank lenders, while deposit coverage was doubled to MDL 200,000. The bank will continue monitoring credit growth and other systemic risks and adjust its tools where necessary.
National Bank of Moldova2026-07-28
National Bank of Moldova finds banking sector resilient as rapid credit growth shifts risks toward retail and property lending
The National Bank of Moldova found the banking sector remained well capitalized, liquid and profitable in 2025, but rapid lending growth shifted risks toward retail and property credit. Bank lending rose 26.7%, including 35% growth in household loans. The central bank set a gradual countercyclical capital buffer increase for 2026 and aligned responsible lending requirements for banks and nonbank lenders.