Maib today has announced that its chief financial officer and vice chairman of the management board Vitalie Lungu will take over new responsibilities within the bank. The supervisory board has accepted his resignation from CFO position. Vitalie Lungu will continue supporting the CFO office during the transition period until the new CFO is appointed. Maib expects to conclude the search and appointment of the new CFO within the next few months.

Vitalie Lungu vast tenure with maib involves 28 years spent with maib in a number of roles including head of investment department, head of treasury, loan officer.

Giorgi Shagidze, maib CEO, said:

"I would like to extend my gratitude to Vitalie for his hard work and dedication. Without him as CFO bank's success in recent years would not be possible. I am looking forward to working with him in the new capacity."

Vytautas Plunksnis, chairman of supervisory board, said:

“We would like to thank Vitalie Lungu for his contribution as CFO and we are happy to continue working together in the future.”

About maib

Maib is the largest bank in Moldova, accounting for 31.1% of country’s banking assets and 34.2% in loans as of 30 September 2021. The bank provides 25.3%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 19.9% as of 30 September 2021. Maib is widely recognized for its customer service and product innovation. Since 2018, maib’s largest shareholder is HEIM Partners Limited, 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.

Upcoming investor event

3 March       │Virtual Romania Investor Day

April 2022    │ Maib Investor Day (date to be confirmed)

20-22 April   │Investor Conference Zuers (by Raiffeisen Bank International)

8-10 June    │Prague Spring EME Conference

20-24 June  │Renaissance Capital Annual Investor Conference