Maib named ”Bank of the Year” by the Banker for the sixth consecutive year
Maib has been named ”Bank of the Year” in Moldova by The Banker, an influential banking and finance publication. This marks the sixth consecutive year that maib has received this notable accolade; a testament to its efforts in delivering exceptional value to its customers, shareholders, and the Moldovan economy.
Maib’s milestones in 2024:
Maib has set new benchmarks in the Moldovan banking sector, achieving significant milestones in digital transformation, sustainability, financial innovation, and shareholder value.
1. Digital Transformation and Innovation
- maibank’s growing user base: the number of maibank users has exceeded 722 thousand, reflecting its success in providing a seamless digital banking experience.
- SME banking app: maib’s SME banking app, maib business, has been widely adopted, with nearly one-third of SME clients now using the platform.
- digital lending leadership: 74% of retail deposits and 70% of retail loans are now originated online, showcasing maib’s leadership in digital banking.
- expanding the green portfolio: maib’s green portfolio, primarily focused on renewable energy loans, has surpassed MDL 830 million, an increase of 43% as since the start of 2024.
- financial inclusion initiatives: maib has enhanced banking accessibility for Ukrainian forcibly displaced persons through targeted staff training and the launch of a dedicated online resource.
- second bond programme success: maib successfully raised over MDL 560 million in its second bond programme, offering investors innovative financial instruments with competitive interest rates. This initiative underscores maib’s commitment to fostering capital market development in Moldova.
- dividend distribution: maib distributed MDL 757 million in dividends, reinforcing its commitment to shareholder value.
- share buyback programme: The bank completed a share buyback worth MDL 231 million, further solidifying its position as a leader in delivering capital returns.
Giorgi Shagidze, maib CEO:
"I would like to thank the Banker for awarding us this prestigious accolade six years in a row. This means that our hard work has not gone unnoticed internationally. Over the past year, evolving customer expectations for digital convenience and personalized financial solutions have been key drivers shaping our strategy. We have accelerated our digital transformation to enhance our customer experience and increase efficiency across our services. Looking ahead, maib remains committed to innovation and sustainable growth as we prepare to unveil our medium-term strategy for 2025–2027. I must thank our team here at maib for their continued efforts, as they are the ones who set the groundwork for the Bank to receive such high recognition.”
About The Banker
The Banker is an international financial affairs publication that provides in-depth analysis, insights, and reports on global banking and finance. The magazine serves as a valuable resource for industry professionals, policymakers, and financial enthusiasts worldwide. Recognized for its comprehensive coverage and expert commentary, The Banker continues to be a leading source of information, offering a nuanced understanding of the dynamic and evolving landscape of international banking.
About maib
Maib is the largest bank in Moldova, with a share of 35.8% of deposits and 37.6% of loans of the entire banking system at the end of 3Q 2024. Maib is a disciplined lender with NPL ratio of 1.8% and is well capitalised with CAR of 20.8% as of 30 September 2024. The Bank is of systemic importance to the country, it serves almost a third of the population and is one of the largest private employers 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.
