Euromoney once again names maib as the Best Bank in Moldova

19 Jul, 2024

Investor Relations Release 19 July 2024

Euromoney once again names maib Best Bank in Moldova

Maib has been named the Best Bank in Moldova at the Euromoney Awards for Excellence for the second year in a row. Additionally, maib was named Best Bank for ESG and Best Digital Bank in Moldova. These awards confirm maib’s leadership of Moldovan banking. Awards are decided on a number of factors including market share, profitability, growth, customer perception, innovations and sustainability. Euromoney collects performance data, surveys, and banking expert views to make its decision. Euromoney’s annual awards programme, which was established in 1992, attracts over 2,000 submissions from more than 500 of the world’s leading banks in 113 countries and recognizes excellence across global, regional and individual country categories.

Giorgi Shagidze, maib CEO, said:

"We take great pride in continued recognition of our efforts by the Euromoney. This prestigious award reflects the progress that the Bank made in this past year, the hard work that we put in achieving customer trust and recognition. I am especially pleased to see maib recognized as the Best Digital Bank, as this is the key area of our focus. We significantly increased the share of loans we grant via the mobile app, while simultaneously improving the customer experience. I want to once again thank Euromoney and also express my gratitude to the entire maib Team, our clients, and shareholders for their support."

Maib progress in 2023

In 2023 maib launched a number of new products and services that were well received by the consumers. Among them:

Full digital onboarding allowing any Moldovan citizen to become maib’s client without visiting the branch. Maib’s online onboarding uses face recognition technology which matches customer’s face with the government database stored image. This adds a layer of security to the onboarding process and is also used in approval of large or unusual transactions.
First corporate bonds, issued by maib, enhancing the choice of financial instruments available to consumers and savers in Moldova. This is an important development in bringing about the functioning capital market in the country.
A slew of new features and products in maibank mobile app, including “pay-in-instalments” product similar to buy-now-pay-later, enhanced security and convenience of peer to peer and other payments.
Share of loans granted online exceeded 60%, while share of deposits originating online topped 70% by end of 2023, a testament to progress of the digital adoption.

Among other important developments:

Maib opened doors to its brand new headquarters maib park, a modern building designed to attract talent and efficiency and closeness to customers.
Maib received a large loan from IFC, a return to Moldovan banking after nearly 10 years of absence for IFC, a testament to trust in maib as a banking institution.
Supervisory Board voted to approve sustainability strategy and set up a corporate body to oversee its implementation. Green loan portfolio reached MDL 580 million by end of 2023.

About maib

Maib is the largest bank in Moldova, with a share of 36.7% of deposits and 37.7% of loans of the entire banking system at the end of 1Q 2023. Maib is a disciplined lender with NPL ratio of 2.1% and is well capitalised with capital adequacy ratio of 23.7% as of 31 March 2024. The Bank is of systemic importance to the country, it serves 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.

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Maib Investor Relations
Evgenii Risovich
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E-mail: Evgenii.Risovich@maib.md

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