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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

GDP development

Source: Ministry of Economy and Infrastructure of Moldova

GDP composition 2024

Source: National Bureau of Statistics of Moldova

Moldova

Economy
  • Population (at 01.01.2025): 2.4 mln
  • GDP (2024): USD 18.2 bln
  • GDP per capita (2024): USD 7,644
  • Average real GDP growth (2016-2024): 2.1%
  • Forecasted average real GDP growth '25-'27*: +2.5%
  • Total loans / GDP (2024): 25.0%
Currency
  • Currency: Moldovan leu (MDL)
  • Exchange rates (31 December 2024): MDL/ USD: 18.48; MDL/ EUR: 19.31
Recent developments
  • In October 2024, Moldovan citizens voted to officially enshrine the country’s EU ambitions into the constitution.
  • Moldova received EU Candidate status in June 2022
  • Weak agriculture season hit economy, GDP grew by 0.1% YoY in 2024.
  • Following Russia's cessation of gas deliveries on January 1, 2025 to Transnistria, Moldova navigated through energy supply challenges. However, Moldova itself no longer relies on Russian gas and has recourse to Romanian electricity market for all its needs and has in place a longterm contract with Cernovoda nuclear power plant
  • This has lead inflation to climb to a maximum of 9.1% as of January 2025, above the NBM inflation corridor of 3.5% - 6.5%. As a result, the NBM has raised the base rate, reaching 6.5% in February 2025 where it has remained as of the 12 May 2025 monetary policy decision
  • In May 2025, inflation stood at 7.9%


Source: National Bureau of Statistics of Moldova, National Bank of Moldova

(*) Source: Average of revised forecasts of: World Bank (April 2025), International Monetary Fund (April 2025), EBRD (May 2025), Vienna Institute for Economic Studies (April 2025) and Moldavian Ministry of Economy (April 2025)

Currency stability: FX rates

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
Giorgi Shagidze
Chairman of the Management Board, CEO
Aliona Stratan
First Vice-Chairwoman, Retail Banking
Stela Recean
Vice-Chairwoman, Chief Risk Officer & Chief Compliance Officer
Dumitru Baxan
Vice-Chairman, Corporate Banking and Investments
Andrii Glevatskyi
Vice-Chairman, Business (SME) Banking
Marcel Teleuca
Vice-Chairman, Operations and Logistics
Macar Stoianov
Deputy Chairman of the Management Board
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
Maryna Kvashnina
Member of the Board of Directors (independent member)
Vasile Tofan
Member of the Board of Directors
Ivane Gulmagarashvili
Member of the Board of Directors (independent member)
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

 


Radu Crivoi
radu.crivoi@maib.md

Giorgi Shagidze
Chairman of the Management Board, CEO
  • Joined maib in February 2021
  • Other current positions: The board member of European Business Association
  • 2010-2020: Deputy CEO and Chief Financial Officer, as well as member of the Management Board at TBC
  • 2008 to 2010: Global Operations Executive for Barclays Bank
  • Deputy CEO of People's Bank of Georgia (2005-07)
  • Graduated from the Tbilisi State University in 1997 and obtained an MBA from the University of Cambridge Judge Business School in 2008, Certified Financial Analyst
  • SEP from University of Stanford Graduate Business School 2022
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.
Dumitru Baxan
Vice-Chairman, Corporate Banking and Investments
  • Joined maib in 2010 as Head of NPL Recovery Department
  • 2019: appointed to the Management Board of maib as Head of Corporate Banking and Investments
  • Previously worked at Banca de Economii, including as Vice President for Retail Banking and at National Bank of Moldova
  • Graduated from Moldova Academy of Economic Studies
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
Macar Stoianov
Deputy Chairman of the Management Board
  • 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.
Vytautas Plunksnis
Chairman of the Board of Directors
  • Chairman of the Supervisory Board since July 2020;
  • Other current positions: Head of Private Equity, INVL Asset Management; partner at INVL Baltic Sea Growth Fund; Chairman of the Supervisory Board of Eco Baltia; Chairman of the Management of Ecoservice, NRD Systems, Investors Association; board member of various portfolio companies;
  • Since 2006 worked in different positions within Invalda INVL Group companies.
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.
Maryna Kvashnina
Member of the Board of Directors (independent member)
  • Appointed to maib's Supervisory Board in 2018 as an independent member;
  • Other current positions: CEO of Naftogaz Digital Technologies; Partner at Edenlab; Financial Services Network Co-Chair for Eastern Europe, YPO – Young Presidents` Organization;
  • Since 2019: IT Director of Naftogaz Ukraine;
  • 2013 to 2015 Vice President of Management Board of Delta Bank;
  • Previously worked at Finstar Financial Group, PrivatBank; § Founder of Pharmacy Network Apteka Dobrogo Dnya (2006); Co-Founder of PAY2YOU (2015).
Vasile Tofan
Member of the Board of Directors
  • Appointed to maib's Supervisory Board in 2018;
  • Other current positions: Chairman of Supervisory Board of Purcari Wineries Public Company Limited; Member of Consultative Boards of Anex and Intellias;
  • Since 2021: 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
Ivane Gulmagarashvili
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 Supervisory Boards of Agricover Holding and TAM Faktoring AS;
  • 2015 to 2018: Head of New Products, 4finance Group § Previously worked at Barclays and Barclays Cards, Bank of Georgia;
  • Graduated from Tbilisi State University (marketing), MBA from the Clarion University of Pennsylvania.
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 ISP Bank Albania;
  • 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.