Welcome maib investors
Investor Relations
En Ro

About MAIB – Investor Relations

About maib

About

Maib is the leader of the Moldovan banking market by:

  • loans, deposits, distribution network, brand perception and most other key indicators

The customer base consists of over 1.1 million across retail, SME and corporate segments

Maib distribution network consists of over 2,500 employees and:

  • 101 branches and agencies
  • 391 ATMs
  • 19.8K POS terminals

Maib is consistently growing and profitable. It is one of the largest dividend payers in Moldova (*subject to permission from the National Bank of Moldova)

Market share

 

Market shares / rank* as at 31 December 2024

Customer loans composition (31 December 2024)

Customer deposits composition (31 December 2024)

Country

 

Moldova GDP development 2021 to 2026

Source: Ministry of Economy and Digitalization of Moldova

 

Moldova GDP composition 2025

Source: National Bureau of Statistics of Moldova

Moldova

Economy
  • Population (at 01.01.2025): 2.4 mln
  • GDP (2025): USD 20.4 bln (MDL 353.5 billion)
  • GDP per capita (2025): ~USD 8,500
  • Average real GDP growth (2016–2025): +2.1%
  • Forecasted average real GDP growth '26–'28*: +3.1%
  • Total loans / GDP (2025): 29%
Currency
  • Currency: Moldovan leu (MDL)
  • Exchange rates (31 March 2026): MDL/USD: 17.65; MDL/EUR: 20.28
Recent developments
  • Moldova's GDP grew +2.4% in 2025, driven by a strong agriculture harvest, IT, construction and household consumption.
  • Energy price volatility poses the key 2026 risk: the Middle East conflict has driven oil and gas prices higher. As a net energy importer, Moldova faces knock-on effects across food prices and transport costs. S&P cut its 2026 growth forecast to 0.3%; IMF projects 1.9%; EBRD 3.0%.
  • Moody's upgraded Moldova's sovereign rating to B2; S&P maintained its BB-/B rating with a stable outlook.
  • Moldova joined the SEPA payment area on October 6, 2025, enabling cheaper euro transfers (estimated annual savings of €56–60 million for individuals and businesses).
  • The September 2025 parliamentary elections secured a pro-EU majority (55/101 seats). EU accession negotiations started in June 2026.

Source: National Bureau of Statistics of Moldova, National Bank of Moldova, Ministry of Finance, IMF, World Bank, S&P Global, Moody's, maib IR Reports 2025–2026. 

(*) Source: Average of revised forecasts of: World Bank (April 2026), IMF (April 2026), EBRD (February 2026), WIIW (April 2026) and Moldovan Ministry of Economy (December 2025)

 

Moldovan currency stability

Source: NBM
Market

  • Moldovan economy remains underpenetrated in terms of banking services

  • Its banking system is well funded by customer deposits and well capitalized compared to regional peers

  • Return on assets remains relatively high

Annual Real GDP growth and loan growth rates 2021-2024

 

Source: IMF, most recent available data

Return on assets and impaired loans

Source: IMF, latest as of end of 2024

Loans, mortgages and deposits penetration (% GDP)

Source: IMF, World Bank, NBM, central banks of respective countries, latest as of end of 2024

 

Equity to assets

 

Source: IMF, latest as of end of 2024

Management
Macar Stoianov
Deputy Chairman of the Management Board, Finance Division
Aliona Stratan
First Vice-Chairwoman, Retail Banking
Stela Recean
Vice-Chairwoman, Chief Risk Officer & Chief Compliance Officer
Alexandru Sonic
Vice-Chairman, Corporate Banking and Investments
Andrii Glevatskyi
Vice-Chairman, Business (SME) Banking
Marcel Teleuca
Vice-Chairman, Operations and Logistics
Supervisory board
Vytautas Plunksnis
Chairman of the Board of Directors
Victor Miculet
Vice Chairman of the Board of Directors
Natalia Vrabie
Member of the Board of Directors
Madeline-Dalila Alexander
Independent member of the Bank Supervisory Board
Vasile Tofan
Member of the Board of Directors
Andreea-Marina Pipernea
Independent member of the Bank Supervisory Board
Konrad Kozik
Member of the Board of Directors (independent member)
History
History of maib between 1991-Present
1991
Maib is established. The bank is a successor to the government owned Agroindustrial Bank. The institution obtained its license for banking operations, including in foreign currency.
1993
The Bank became a founder of the Moldovan Stock Exchange.
2000
The General Assembly of Shareholders confirmed the EBRD and Western Nis Enterprise Fund as potential foreign investors of the bank. One year later, the two institutions invested in the bank's capital, though obtaining 9.8% and 9.9% of the bank's shares.
2002
Maib is the first bank in Moldova to set up a leasing company - maib Leasing. Also this year, maib creates its Business Center and serves individually each corporate client, attracts deposits, manages liquidity, makes currency operations, etc. Maib becomes a member of VISA International system and extends its cards range.
2007
Individuals can manage deposit accounts in any branch of the bank throughout the country. Internet-Banking service is launched as a pilot project.
2008
VISA and Mastercard chip cards are released. For the first time on the banking market, the Cash-in service solution is applied, with the possibility of paying loans, additional current accounts and deposits through payment terminals. The system of customer service by phone is developed, through InfoCentru and InfoTel services.
2016
An extensive transformation process is being launched across several business lines to increase efficiency and quality of services and to align with European peers. Maib is the leader of the banking market in the country.
2017
Maib launches the MAIBank App, guaranteeing fast and secure access to Mobile Banking and Internet Banking services. In order to increase its level of competitiveness and security, maib has strengthened its capacities to prevent money laundering and terrorist financing by implementing the most advanced AML solutions.
2018
The shareholding structure includes HEIM Partners Limited, which acquired the 41.09% stake. HEIM Partners Limited is an international consortium of investors consisting of the European Bank for Reconstruction and Development, Horizon Capital and AB Invalda INVL.
2021
The updated development strategy for the period 2021-2024 is approved, with a new mission, vision and new values. In October, maib announced a new visual brand identity that supports the updated strategy, mission, vision and new values of the bank.
2022
Maib has started agile transformation, for addittional flexibility, speed and instant reaction to change.
2023
Maib closes on its first ever domestic bond issue, and publishes its inaugural sustainability report. The Bank signs a senior loan agreement with the International Finance Corporation.
2024
Maib is named the best digital and SME bank in the region by EMEA Finance and Global Finance. The Bank returns close to MDL 1 billion to shareholders via dividends and a share buyback. Second bond programme raises MDL 565 million. Maibank adds lifestyle features including insurance and other third party offerings.
Contacts

Contact Investor Relations
 

Contact email for general queries IR@maib.md
Telephone +373 68 40 34 77

 

Evgenii Risovich
evgenii.risovich@maib.md

 

Elena Bolocan
elena.bolocan@maib.md

Macar Stoianov
Deputy Chairman of the Management Board, Finance Division
  • Macar Stoianov is currently the Deputy Chairman of the Bank's Management Board,
    responsible for the activities of the Finance Division (Aria) and exercises the function of
    managing:
    a) Human Resources Division (Aria);
    b) Marketing Division (Aria);
    c) AI Center of Excellence;
    d) Quarterly Business Review Office.
  • Other positions - as of January 2026 acts as non-executive member of the Board of Directors of Maib IFN. S.A.;
  • He joined maib team in April 2022, as a Financial Consultant;
  • Prior to maib, Macar Stoianov has been working seven years for McKinsey & Company, the leading global strategy consultancy, where he was involved in projects in the areas of business strategy, finance and risk, as well as digital transformation and core operations;
  • Earlier in his career he held posts with KBC and ING groups, the leading European financial institutions, where among other things he gained diverse experience in finance, risk management, budgeting, pricing and liability management. Macar holds an MBA from Vlerick Business School, MSc and BA from Academy of Economic Studies in Bucharest Romania, Financial Risk Management (FRM) from GARP and is a CFA.
Aliona Stratan
First Vice-Chairwoman, Retail Banking
  • Joined maib in 2020 as First Vice-Chairwoman of the Management Board, Retail Banking;
  • Other current positions: Chairman of the Supervisory Boards of maib-Leasing and IMON International;
  • 2018 to 2020: Vice President ABB Bank Armenia;
  • 2014 to 2018: Vice President VTB Bank Armenia;
  • Previously worked at ProCreditBank Georgia, National Bank of Moldova;
  • Graduated from the Moldova State Agrarian University, MBA from Grenoble Graduate School of Business.
Stela Recean
Vice-Chairwoman, Chief Risk Officer & Chief Compliance Officer
  • Since 2018: Vice-Chairwoman of the Management Board, Compliance & Legal (since 2021 took also the responsibility of the Risks function);
    • 2014 to 2018: Head of Compliance Department;
    • 2000 to 2014: held different positions within Assurance Department of PwC Moldova, including administrative functions;
    • Previously worked at PWC and National Bank of Moldova;
    • Graduated from Moldova Academy of Economic Studies, ACCA member, ACAMS member, Licensed Auditor.
Alexandru Sonic
Vice-Chairman, Corporate Banking and Investments
  • Joined maib in 2024 as a Consultant;
  • Since 2026 acts as the Chairman of the Board of the Moldova International Exchange;
  • He spent over a decade at Morgan Stanley in London as a Vice President and Executive Director, leading M&A transactions, capital markets operations, and strategic financial initiatives across multiple industries;
  • He has served in supervisory roles at listed and private companies, contributing to strategic oversight and corporate governance;
  • Holds a BA and MA from Oxford University. 
Andrii Glevatskyi
Vice-Chairman, Business (SME) Banking
  • Joined maib in 2019 as Counsellor in Risks;
  • 2019: appointed to the Management Board of maib as Chief Risks Officer and later, in 2021 – as Head of Business (SME) Banking;
  • 2009 to 2019: held different positions at Raiffeisen Bank Aval Ukraine, including Head of Retail Risks in 2015 to 2019;
  • Previously worked at Aval Bank Ukraine;
  • Graduated from the National Agrarian University.
Marcel Teleuca
Vice-Chairman, Operations and Logistics
  • Works in maib since 1994 (with a one year break, when worked as Head of Treasury of BTR Bank);
  • 2010: appointed as Vice-Chairman of the Management Board;
  • Previously worked as Head of Treasury, Head of Dealing, dealer;
  • Graduated from Moldova Academy of Economic Studies.
Vytautas Plunksnis
Chairman of the Board of Directors
  • Chairman of the Supervisory Board since July 2020;
  • Member of the Management Board and Head of Private Equity at INVL Asset Management, UAB
  • Partner and member of the investment committee at INVL Baltic Sea Growth Fund (Lithuania)
  • Partner and member of the investment committee at INVL Private Equity Fund II (Lithuania)
  • Chairman of the Supervisory Board of Eco Baltia (Latvia) 
  • Chairman of the Supervisory Board of Eesti Keskkonnateenused (Estonia)
  • Chairman of the Management Board of the Investors' Association in Lithuania, as well as a member of the management bodies of several other portfolio companies
  • Since 2006, he has worked in different positions within Invalda INVL Group companies. He has over 20 years of experience working in the Baltic private equity and capital markets, investing in Central Eastern Europe, and handling M&A transactions
Victor Miculet
Vice Chairman of the Board of Directors
  • Chairman of the Supervisory Board in 2002-2020; Vice-Chairman since 2020;
  • Other current positions: Chairman of the Association of Authorized Cars Importers;
  • 1996: founder, CEO of “Auto-Space” LTD, authorized dealer of BMW, Mini, MAN, Honda and Mitsubishi cars.
Natalia Vrabie
Member of the Board of Directors
  • Appointed to maib's Supervisory Board in 2013;
  • 1991 to 2013: managerial positions in maib, including position of CEO, Chairman of the Management Board during 1996-2013;
  • Over 50 years of banking experience.
Madeline-Dalila Alexander
Independent member of the Bank Supervisory Board
  • Approved in the Bank Supervisory Board in 2025, as an independent member;
  • A certified accountant and financial auditor with an international career spanning over 30 years, trained in the USA and further established in Romania;
  • Was a senior partner at Deloitte Romania and contributed to the establishment of KPMG practice in Romania;
  • Holds a degree in Accounting from Florida International University and possesses CPA (USA), CAFR (Chamber of Financial Auditors of Romania), CECCAR (Body of Expert and Licensed Accountants of Romania), and ASPAAS (Authority for the Public Oversight of the Statutory Audit Activity) certifications;
  • Her activity is distinguished by in-depth expertise in audit, corporate governance, and financial reporting in regulated sectors, including banking and capital markets.
Vasile Tofan
Member of the Board of Directors
  • Appointed to maib's Supervisory Board in 2018;
  • Other current positions: Member of the Boards of AO Media Alternativa, American Chamber of Commerce in Moldova, Startup Moldova Foundation; member of  the Consultative Board of Intellias;
  • Since 2022: Senior Partner at Horizon Capital Advisors LLC Office in Ukraine (joined in 2012);
  • Previously worked Consultant at Monitor Deloitte and Senior Manager, Corporate Strategy & Alliances at Philips;
  • Founded Ovuline (now Ovia Health);
  • Graduated from Erasmus University of Rotterdam (public management), MBA from the Harvard Business School.
Andreea-Marina Pipernea
Independent member of the Bank Supervisory Board
  • Approved in the Bank Supervisory Board in 2025, as an independent member;
  • Over 25 years of experience in financial services — in areas such as banking, asset management, private pensions, insurance and capital markets;
  • As an experienced member of the Supervisory Board, she brings a solid financial perspective, with extensive expertise in corporate governance, risk management, mergers and acquisitions, and corporate banking.
  • Certified as an Independent Director (Henley Business School diploma, 2021);
  • Managing Partner at APlus Advisory, an M&A consultancy firm, and an angel investor in a number of startups, including in the Republic of Moldova;
  • Has obtained certifications and qualifications from top universities and business schools, including Kennesaw State University, Georgetown University, and Imperial College Business School;
  • Founded the Womanity community for women leaders in Romania — a dedicated space for promoting authentic leadership, building meaningful relationships, and fostering both personal and professional development;

 

Konrad Kozik
Member of the Board of Directors (independent member)
  • Appointed to maib's Supervisory Board in 2020 as an independent member;
  • Other current positions: Member of the Supervisory Board of Intesa SanPaolo Bank Albania; Member of the Supervisory Board of Deutsche Polska SA;
  • 2014 to 2019: CFO, Member of the Management Boards of Allianz Russia and Poland;
  • Previously worked at UniCreditBank;
  • Graduated from Navarra University, MBA from Luigi Bocconi University.