Global Finance named maib ”Best Bank in Moldova” for the ninth year in a row
Maib announces is pleased to announce that it has been named the Best Bank in Moldova by Global Finance. This award reaffirms maib’s leadership in Moldovan banking and reflects the Bank’s dedication to its customers and drive for innovation.
Consumer-centric approach
In 2023, maib managed to navigate the changing landscape of consumer preferences, whereby banking migrated from branch to mobile. Throughout the year, several breakthroughs for online lending, such as biometric authentication of transactions, made it easier for maib customers to access and fully enjoy the Bank’s products. As a result of such initiatives, the Bank’s mobile app, maibank, grew to 590 thousand users by end of 2023, reflecting a 37.4% increase compared to the previous year. Even as many of these changes were rolled out with little time between them, the customer satisfaction of online loan experience, as measured by Net Promoter Score (NPS) increased, showing that customers liked and agreed with these changes. Maib’s strategy of consumer-centricity is the key to gaining market share. In 2023, maib’s market share of loans reached 37.4% (from 37.2% in 2022) and that of deposits reached 34.3% (from 33.0% in 2022).
Key Milestones for 2023
- - Inaugural maib Bond Offering: maib 's first corporate bond offering raised MDL 258 million, primarily placed with retail customers, contributing to the development of Moldova's capital markets;
- - Launch of Full Digital Onboarding: maib introduced digital onboarding, enabling Moldovan citizens to open bank accounts without ever visiting a branch;
- - Sustainability Initiatives: maib initiated a comprehensive sustainability program, including the establishment of a Sustainability Strategy and the release of its inaugural Sustainability Report;
- - Opening of maib park: maib's new headquarters, opened in September, features a Silicon Valley-style campus design with modern amenities and consolidates over 1,000 employees from five offices, aligning with the bank's commitment to innovation and customer service.
Giorgi Shagidze, CEO maib, said:
"I would like to thank Global Finance for recognising our efforts by awarding us for the ninth year in a row. Our success in winning the Best Bank in Moldova award is a testament to our commitment to innovation and customer satisfaction across all business units. Our milestones in 2023, from the launch of digital onboarding to our sustainability initiatives, reflect our dedication to serving our customers and driving sustainable growth in Moldova. None of this would be possible without our dedicated team, as their hard work is the reason why we are able to achieve such milestones."
About Global Finance
Global Finance, founded in 1987, has a circulation of 50,000 readers in 193 countries and territories. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFMag.com — offers analysis and articles that are the legacy of 36 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other financial services providers. These awards have become a trusted standard of excellence for the global financial community.
About maib
Maib is the largest bank in Moldova, with a share of 34.3% of deposits and 37.4% of loans of the entire banking system at the end of 2023. Maib is a disciplined lender with NPL ratio of 2.7% and is well capitalized with CAR of 24.2% as of 31 December 2023. The Bank is of systemic importance to the country as it serves almost a third of the population and is the largest private employer in Moldova, with a workforce of over 2,400 people. Since 2018, maib's largest shareholder is a consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading asset management group in the Baltic States and Horizon Capital, a private investment fund focused on emerging markets.
