2022 maib AGM results
Yesterday maib shareholders gathered for its Annual General Shareholder Meeting (AGM) in Chisinau. Holders of 75.52% of the votes were present at the meeting. All resolutions presented at the AGM were passed with the requisite majority of two thirds of the votes. The full results are detailed below.
1. and 2. The Bank's Annual Financial Results and the Bank’s Supervisory Board Annual Report for 2021. The shareholders voted to accept the Annual Financial Report for 2021 and to approve the Bank’s Supervisory Board Annual Report for 2021.
3. Estimated costs of Supervisory Board activity. The shareholders voted in favour of accepting the estimated costs of the Supervisory Board activity in 2022.
4. Distribution of Bank’s annual profits, including the annual dividends payment for the year 2021. The shareholders voted in favour of the proposed distribution, whereby 65% of the profits are retained for continued activity. Remainder (35%) of the Bank's profit is allocated to a potential dividend distribution at a later date. The Bank intends to seek the approval of the National Bank of Moldova for the dividend payment at a date no later than 15 December 2022, subject to stabilisation of the economic conditions in the country.
5. Policy covering the Bank’s profit distribution for the year 2022. The shareholders voted to accept the proposed profit distribution policy whereby 30% to 50% of the Bank's 2022 profits is allocated to dividend payment subject to the approval by the National Bank of Moldova.
6. Own share buyback by the Bank. The shareholders adopted the proposed share buyback of up to 5% of outstanding shares (51,880 shares) at a fair price. The term of the buyback is up to one year from adoption of the resolution. The buyback is subject to the approval of the National Bank of Moldova.
All the materials reviewed and the resolutions adopted at the meeting are published on the Bank's website in the information disclosure section.
Please contact the organisation team of the AGM for more info:
Telephone: +373 22 303 615, +373 22 303 618
Maib is the largest bank in Moldova, accounting for 31.4% of country’s banking assets and 34.9% in loans as of 31 December 2021. The bank provides 26% of all mortgage loans extended to Moldovans, serves over 35% of Moldova’s population and is among the largest employers in the country. The bank is well capitalized with Tier 1 Capital ratio of 21.1% as of 31 December 2021. Maib is widely recognized for its customer service and product innovation. Since 2018, maib’s largest shareholder is a consortium of investors composed of European Bank for Reconstruction and Development, Invalda INVL, a leading asset management group in the Baltics, and Horizon Capital, an Emerging Europe focused private equity fund manager. The Bank is looking to list its shares on Bucharest Stock Exchange to achieve the best value for its shareholders.
Contact investor relations
For further enquiries, please contact: IR@maib.md or by phone at +373 22 303 237 or visit our website ir.maib.md