Maib – Moldova’s most efficient bank in 2020 according to SeeNews
Maib is the best performing bank in Moldova, according to the annual report of the international magazine SeeNews "TOP 100 SEE ranking of the biggest companies, banks, and insurers in the region of Southeast Europe in 2020", the 14th edition. The bank ranks 61st in the ranking, moving up three positions compared to 2019.
The excellent result was guaranteed by the financial indicators recorded by maib during 2020 - assets of €1.44 billion and €25.5 million net profit. Even against the backdrop of the COVID-19 pandemic, which has severely affected business worldwide, maib has demonstrated a stable, customer experience-focused business with responsibility to employees and society.
Nevena Krasteva, Editor-in-Chief of SeeNews magazine:
“The pandemic caused us to fundamentally change our behavior. It has made us more mobile, more agile, through the effective application of digitization. Agility and flexibility are the words that appear in every article in the 14th edition of the SEE TOP 100, always side by side with digitization. A sector that emerged as a clear champion in 2020 is e-commerce, as the pandemic-induced crisis only accelerated an existing major shift in consumer habits. New extremely flexible financing options, a quick access to a vast range of products and an upsurge in innovation are the silver lining of the crisis”.
The 14th edition of the " TOP 100 SEE ranking of the biggest companies, banks, and insurers in the region of Southeast Europe in 2020" includes more than 200 banks in the region, including branches and subsidiaries of foreign banks. The report is based on financial information on total assets and net profit for the fiscal year ended December 31, 2020, compared to data for 2019 from the unconsolidated annual reports of the companies.
Maib is the largest bank in Moldova, with a 34% share of loans and 31% share of deposits of the entire banking system. Maib’s network consists of 145 branches and agencies. It has the most downloaded and the highest ranked banking phone app. The bank serves nearly 30% of the country's population and is one of the largest employers in the country. Maib’s medium term targets include 40% market share in loans, 55% share in payments, under 45% cost-to-income ratio and 20%+ return on equity to be achieved by 2024. Since 2018, the bank's largest shareholder is a consortium which includes European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading asset management group in the Baltics, and Horizon Capital, a private investment fund focused on emerging markets in Europe.
