Maib has successfully placed its second domestic bond programme after obtaining all the necessary approvals from the Moldovan securities regulator, the National Commission for Financial Markets (CNPF), for the ninth and final tranche. Total value of bonds placed with investors since the start of the programme in December 2023 was of MDL 564.9 million. It was placed with retail customers allowing them to obtain a flexible savings product with an attractive interest rate.

Salient features of the bond programme:

• The total value of the programme amounted to MDL 564.9 million (the total value of the first bond programme placed was MDL 258 million);
• Across all 9 tranches, the number of subscribers totaled at 1,634 (740 during the first bond programme);
• The programme started in December 2023 and ended in November 2024;
• Each bond has a face value of MDL 20,000, a maturity of 3 years and pays a monthly coupon;
• It has a floating coupon (re-set annually) tied to the average interest rate of new deposits in domestic currency (MDL) for the whole banking sector as published on the NBM website (www.bnm.md), plus a premium of between -1.0% and 1.5% depending on the class of the issue;
• The bond is puttable by the holder up to a certain amount.

Bond rationale and maib's approach to distribution

For maib the bond offering presents an innovative way to diversify its funding base while meeting all the regulatory requirements. It is also another step towards developing the capital markets in the country by offering more financial instruments to the Moldovan public. Bond holders obtained a favorable return on their investment exceeding the rate on retail deposits. The distribution of the bond was handled by maib’s Retail business unit and was offered through both branches and digital channels. Due to the fact that this is a new and innovative product for the Moldovan market, this programme was accompanied by an extensive investor education campaign.

Macar Stoianov, maib CFO, commented:

"The successful completion of our second domestic bond programme marks another milestone for maib. Both the total value raised and the number of subscribers more than doubled as compared to the first bond programme. This is a testament to maib’s ability to distribute complex investment products and an important step in the development of the capital markets in Moldova. We thank our customers for their trust and congratulate the efforts of our team in achieving this result."

About maib

Maib is the largest bank in Moldova, with a share of 35.8% of deposits and 37.6% of loans of the entire banking system at the end of 3Q 2024. Maib is a disciplined lender with NPL ratio of 1.8% and is well capitalised with CAR of 20.8% as of 30 September 2024. The Bank is of systemic importance to the country, it serves almost 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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Upcoming investor events

• 03 December - WOOD’s Winter Wonderland EMEA Conference

Contact investor relations

Maib Investor Relations
Evgenii Risovich
Phone: +37368403477
E-mail: Evgenii.Risovich@maib.md

Press Contact
Daniela Șerban
Phone: +40742242662
E-mail: Dserban@vertikgroup.eu