Maib's fourth corporate bond programme receives regulatory approval: up to MDL 2 billion to be distributed

13 Feb, 2026

Investor relations release, 13 February 2026

Maib's fourth corporate bond programme receives regulatory approval: MDL 2 billion to be placed

Maib has received approval from the National Commission for Financial Markets (CNPF) for its fourth corporate bond programme, with a total planned issuance of up to MDL 2 billion. Distribution is expected to commence in February 2026 through maib’s nationwide retail network and digitally for investors holding an electronic signature.

The new programme follows the strong performance of maib’s third corporate bond programme, which raised MDL 1.2 billion across nine tranches in 2025 and attracted more than 4,500 unique individual investors, highlighting growing retail participation in Moldova’s capital markets.

Key features of maib’s fourth corporate bond programme:

Total programme size of MDL 2 billion, structured in 10 tranches of MDL 200 million each
Bond face value of MDL 20,000
Maturity of 3 years with monthly coupon payments
Floating interest rate (reset annually), linked to the average MDL deposit rate across the banking sector plus a premium ranging from –1.0% to +3.0%, depending on bond class (to be determined at issuance)
Put option available to investors, subject to programme conditions
Bonds will be distributed via maib branches or electronically for e-signature holders

The bond programme conditions fully comply with relevant regulations of both the capital markets and banking system regulators, and allow maib to diversify and expand its funding base. For more information, including the prospectus please click here.

Results of the previous bond programmes

First bond programme:

Commenced in April 2023
First corporate bond offering on Moldovan market in nearly twenty years.
Total value of funds raised stood at MDL 258 million
Over 700 investors bought into the offering

Second bond programme:

Commenced in December 2023
Total value of funds raised stood at MDL 565 million
Over 1,300 investors bought into the offering

Third bond programme:

Commenced in March 2025
Total value of funds raised stood at MDL 1.2 billion
Over 2,500 investors bought into the offering

Broadening financial product offering and educating the market

Pioneering maib’s bond issuance has demonstrated consistent structural growth, with each successive programme nearly doubling in scale compared to the previous one, reflecting a gradual strengthening of market credibility, issuer reputation, and investor confidence. Programme III marks the shift from an introductory financing instrument to a consolidated and reliable funding platform, indicating that the bond programme has reached a new level of institutional maturity.

By making more types of financial instruments available to the Moldovan public, such programmes develop the country’s capital market. Furthermore, as they are tradable on the Moldovan Stock Exchange, it allows holders the flexibility of obtaining liquidity quickly. Maib continues to be at the forefront of the capital market evolution with its innovative products and services.

All bond programmes have been accompanied by financial education initiatives aimed at increasing public understanding of fixed-income investments. Historically, bondholders achieved returns exceeding the weighted average retail deposit rate, reinforcing the attractiveness of this instrument for long-term savings and portfolio diversification.

By offering publicly tradable bonds, maib continues to expand liquidity options for investors and actively contributes to the development of local capital markets. The bank also supported the establishment of the newly founded Moldova International Exchange, where maib Vice-Chairman Alexandru Sonic serves as Chairman of the Board.

Macar Stoianov, maib CFO, said:

"The launch of our fourth bond programme represents more than just a larger funding round, it reflects a new level of investment maturity in Moldova. We are seeing a steadily growing community of informed investors who are beginning to think beyond traditional deposits and engage with capital market instruments. At maib, we view this as part of our broader responsibility to help build financial literacy and investment culture across the country. By making bonds accessible, transparent, and digitally available, we are empowering people to participate in economic growth while strengthening the foundations of Moldova’s financial ecosystem.”

About maib

Maib is the largest bank in Moldova, with a share of 35.5% of deposits and 37.7% of loans of the entire banking system as of the end of Q3 2025. Maib is a disciplined lender with an NPL ratio of 1.0% (IFRS) and is well-capitalised with a CAR of 20.7% as of 30 September 2025. The Bank is of systemic importance to the country, serving nearly half of the population and is one of the largest private employers in Moldova, with a workforce of over 2,500 people. The Bank is committed to returning capital to shareholders, having paid out 45% of its 2024 profits in dividends (totalling nearly EUR 32 million). Maib is well-known in Moldova and internationally for its customer-centric approach and leadership in innovation having received a number of recognitions, such as Best Bank in Moldova, Best SME Bank in the region and other. Since 2018, maib's largest shareholder has been a consortium that 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
Phone: +37368403477
E-mail: Evgenii.Risovich@maib.md

For further enquiries, please contact: IR@maib.md or by phone at +373 68 403 477 or visit our website ir.maib.md.