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The optimization of the credit portfolio of commercials banks in the Republic of Moldova

Author: Cadocinicov Evgheni
Degree:doctor of economics
Speciality: 08.00.10 - Finance; Monetary Economics; Credit
Scientific adviser: Natalia Băncilă
doctor habilitat, professor, Academy of Economic Studies of Moldova
Institution: Moldova State University


The thesis was presented on the 20 December, 2018
Approved by NCAA on the 15 March, 2019


Adobe PDF document0.83 Mb / in romanian


CZU 336.77(478)(043.3)

Adobe PDF document 2.86 Mb / in romanian
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credit, commercial bank, credit portfolio, credit risk, credit policy, optimization, etc


The thesis for the degree of doctor in economic sciences, speciality 522.01. Finance, Chisinau, 2018.

Structure of the thesis: introduction, three chapters, general conclusions and recommendations, bibliography, tables, figures, and annexes. The research is reflected in 8 scientific publications.

Field of study: economics, finance.

The purpose of the work is to elaborate the theoretical-applicative basis for managing and optimizing the credit portfolio of commercial banks of the Republic of Moldova. To achieve this goal, we will follow the following objectives: conceptual determination of the process of credit portfolio creation; identification of problems and factors of influence on credit portfolio management; determination of the impact of the credit policy on the commercial bank's credit portfolio; structural analysis of the quality of credit portfolio; evaluation of the credit portfolio after risk and profitability; elaboration of recommendations for the improvement and optimisation of the credit portfolio of commercial banks in RM. The scientific novelty and originality of the work comprises the following elements: deepening the theoretical approaches to the concept of credit portfolio; determination of credit portfolio management issues; identification of factors of influence and the impact of the structure and quality of the credit portfolio on the bank performance; elaboration of the econometric model of the correlation of factors influencing the volume of credit portfolio of local commercial banks; determining the directions for improving the quality of the credit portfolio for the banking sector in the Republic of Moldova.

The important scientific problem solved in the thesis is to estimate the current state of the credit portfolio of commercial banks in the Republic of Moldova and the development of the directions of improvement, as well as the trends of its optimization.

The theoretical significance and the applicative value of the thesis are in the contributions made at specifying and defining the basic notions, the analysis of the structure and the principles of creating the credit portfolio, which enabled the identification of existing deficiencies and the synthesis of the defining elements of a generic methodological framework, revealing the impact of the credit policy on the quality of credit portfolio of the commercials banks. In the applicative aspect, by applying the methods of reducing credit risk in practical evaluations, some proposals were outlined for the necessity of improving and optimizing the credit portfolio of commercial banks in the Republic of Moldova.

The implementation of the scientific results. Methodological elaborations and practical recommendations related to optimizing the credit portfolio of commercial banks were received and implemented by BC "Moldindconbank" SA, CB "Mobiasbanca Groupe Societe Generale" SA and the Microfinance Organisation "Victoria Credit" SRL. The application of the recommendations and the proposed methodology may constitute informational support for national banking institutions, as well as completing university and postgraduate courses in specialized disciplines.