Investor Relations Release 27 October 2025

Maib Supervisory Board designates Macar Stoianov to succeed Giorgi Shagidze as CEO, subject to NBM approval

Maib, the leading bank in Moldova, announced today that its Supervisory Board has designated Macar Stoianov, currently the bank’s CFO, to serve as the next Chief Executive Officer, subject to approval by the National Bank of Moldova (NBM). Giorgi Shagidze will support the appropriate transition following a highly successful tenure as CEO, in line with the announcement made on 22 February 2024. After Giorgi’s term ends, Marcel Teleuca, the longest-serving member of maib’s Management Board, will act as Interim until approval for Macar Stoianov is granted by the NBM.

Vytautas Plunksnis, Chairman of the Supervisory Board of maib, commented:

“We are grateful to Giorgi for leading a remarkable transformation of maib and for building a strong foundation for the next chapter. Macar brings deep financial, strategic and operational expertise, proven leadership within maib, and a strong commitment to our customers and people. We are confident he will continue to raise the bar.”

Vasile Tofan, Chair of the Nomination and Remuneration Committee, added:
“After a rigorous process, the Board concluded that Macar is the right leader for the next phase of bank’s development. He knows maib, our strategy and our culture, and has earned the trust of colleagues, clients and investors. We look forward to a smooth and timely leadership handover, also with Marcel’s help, as maib veteran, until all regulatory approvals are secured by Macar, will further contribute to a proper transition.”

Giorgi Shagidze said:
“It has been a privilege to lead maib through this defining stage. I was lucky to work with an exceptional team whose passion and professionalism made our transformation possible. Together, we built a stronger, more agile, and future-ready bank that will continue to drive Moldova’s progress and prosperity. Macar has been a key partner on this journey, and I am confident the bank will continue to thrive under his leadership.”

Macar Stoianov said:
“I am honored by the Board’s nomination and see it as a huge privilege to become the new CEO of maib, subject to the NBM’s approval. Since joining the bank in February 2022, I have seen first-hand the strength of our team and the trust our customers place in us. We will stay focused on disciplined growth, service excellence and innovation while further strengthening maib’s resilience and readiness for future strategic milestones. Moldova has a historical opportunity to join EU, our country was just admitted into SEPA, and I look forward to maib playing a critical role in the economic growth and convergence of our country towards Europe.”

About Macar Stoianov

Macar Stoianov joined maib in February 2022, as head of the finance function, serving as Chief Financial Officer and vice-president of the Management Board. He played a central role in steering the bank through the volatile period that followed the full-scale invasion of Ukraine, helping to safeguard liquidity, capital and maintain risk discipline while advancing the bank’s transformation agenda. Prior to maib, Macar spent seven years with McKinsey, working on strategy, finance and risk, digital transformation and core operations across financial institutions. Before that, he held roles with KBC and ING, gaining diverse experience in finance, risk management and budgeting. Macar holds an MBA from Vlerick Business School, MSc and BA from the Bucharest Academy of Economic Studies, is a CFA charterholder and holds the FRM certification from GARP. A native of Congaz, Macar speaks fluent Romanian, English, Russian and Gagauz.

Giorgi Shagidze’s tenure at a glance

Under Giorgi Shagidze’s leadership, maib completed one of the most ambitious transformations in Moldova’s banking sector, becoming a more agile, digital, and future-ready institution while maintaining strong performance and governance discipline.

• Team and organization. Maib strengthened its leadership team, introduced an agile operating model, and replaced nearly half of its middle management team by attracting Moldovan professionals with international experience.
• Market and performance. Since 2020 the loan market share has grown by six percentage points and SME loans by fifteen, consolidating leadership across all segments. The total assets more than doubled, with profit up over 200% and ROE rising from 13% to above 20%, well above the system average, while NPLs decreased to 1.1% (IFRS) with coverage of over 200%. Share price on the local stock market increased by over four times, while shareholders benefited from a significant dividend payout.
• Digital and innovation. Maib’s digital users grew from 170 thousand to around 900 thousand, with up to 80% of retail loans and deposits originated online. AI-powered chatbots, end-to-end digital onboarding, lifestyle services, BNPL, innovations in payments, and bancassurance positioned maib as a regional digital leader, earning prestigious awards for Best Digital Bank, Best SME Bank, and Most Innovative Bank in CEE & CIS.
• Brand and customer experience. Maib completed a full rebranding and branch transformation, modernizing and optimizing its entire retail network and significantly improving NPS across all segments and products.
• Governance and future readiness. Maib aligned its governance also with Bucharest Stock Exchange standards, embedded an ESG framework, and expanded its green portfolio to nearly MDL 1.4 billion. The opening of maib park marked a major cultural and operational shift toward a future-proof organization, now advancing step-by-step expansion into Romania and prepared to proceed with an IPO once regulatory conditions allow.

About maib

Maib is the largest bank in Moldova, with a share of 36.3% of deposits and 38% of loans of the entire banking system as of the end of Q2 2025. Maib is a disciplined lender with an NPL ratio of 1.1% and is well-capitalised with a CAR of 19.7% as of 30 June 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.

Recent investor relations releases

• Strong loan growth and efficiency gains help maib ROE exceed 20% in Q2 2025
• Maib provides access to Moldovan banking to citizens living abroad
• Alexandru Sonic's appointment to maib Management Board approved by NBM

Upcoming investor events

• 6 November - 3Q and 9M 2025 Financial Results (TBC)

Contact investor relations

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.