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Q1 2025 results: maib ROE exceeds 19% on an improving net interest margin and loan book quality

06 May, 2025

Maib's Q1 2025 ROE exceeds 19% on an improving net interest margin and loan book quality

  • Maib’s net profit reached MDL 401.8 million in 1Q 2025 (EUR 20.7 million), up 15.0% YoY;
  • ROE increased by 1.7 pp YoY, reaching 19.6%;
  • Maibank users surpass 809 thousand, up by 28% YoY;
  • Out of total retail loans 76% are now originated online, for deposits it is 81%;
  • Maib’s gross loans reached MDL 32.6 billion (EUR 1.7 billion) increasing by 33.6% YoY;
  • Moldova’s economy grew by just 0.1% in 2024, weaker than expected;
  • International forecasters have downgraded their growth predictions for 2025, on the back of global economic slowdown related to trade disputes. Moldova’s GDP is expected to grow by 0.6% and 0.9% in 2025 according to the IMF and the WB respectively;
  • Inflation picked up towards the end of 2024 and into the start of 2025 and is at 8.8% as of March 2025. The NBM responded by raising base rate to 6.5% in Q1 2025.

 

Giorgi Shagidze, CEO of maib, commented:

“Maib continued to deliver strong results in Q1 2025, with net profit up 15% year-on-year and ROE at 19.6%. This has once again shown that the Bank’s robust foundation is able to withstand economic uncertainty. Our digital platforms continue to scale, with over 809 thousand maibank users and innovative new services launched for retail and corporate clients. With our third and largest bond programme to date, we offer the people of Moldova sound alternative financial instruments.

We’re honored that, through our Bancassurance offering, Global Finance recognized us as a leader in financial innovation across Central and Eastern Europe. This recognition reflects not only our national leadership, but also our growing presence and competitiveness on the regional stage. Thank you to the entire team at maib for making this possible.”

 

Maib 1Q 2025 performance highlights:

  • Maib’s net profit reached MDL 401.8 million in 1Q 2025, equivalent to EUR 20.7 million growing by 15.0% YoY and 26.6% QoQ;
  • Return on Average equity (ROE) stood at 19.6% as of 1Q 2025, growing by 1.7 pp YoY;
  • Market share of maib as of 31 March 2025, was as follows:
    • Market share of total assets – 36.4%, up by 0.4 pp YoY;
    • Market share of total loans – 37.9%, up by 0.2 pp YoY;
    • Market share of total deposits – 37.3%, up by 0.6 pp YoY;
  • Number of maibank users surpassed 809 thousand, an increase of 28% YoY;
  • Out of total retail deposits 81% originated online, whilst for the number of retail loans that number was 76% during 1Q 2025;
  • NIM reached 4.8% in 1Q 2025, up 0.4pp QoQ, up 0.4pp YoY;
  • Maib is considering international expansion with an asset-light digital-only offering in Romania, focused on meeting Moldovan diaspora needs and subsequent service extending to broader Romanian consumer market. 

 

Moldova update – international forecasters have downgraded their growth predictions (2025):

  • The Moldovan economy grew by 0.1% in 2024;
    • A weak agriculture season was the factor that primarily affected GDP negatively, however lower net exports also played a part;
    • On the other hand, household spending, which increased by 2% YoY drove GDP growth, with sectors such as IT, construction, and finance contributing as well;
    • This was a significant and unexpected underperformance. At the end of Q3 2024 according to relevant growth forecasts, the economy was predicted to grow by between 1.0% and 3.2% in 2024, with the average being 2.4%;
  • International forecasters have downgraded their growth predictions for Moldova for 2025. The IMF lowered their forecast to 0.6%, revising it downward by 2.4 pp. The World Bank revised it by 3.0 pp to 0.9%;
    • These revisions came following the tariffs imposed by the US on its trading partners. Whilst the share of exports to the US as a percentage of total exports for Moldova is only around 2.5%, due to the broader regional impact of the tariffs and the fact that Moldova’s economy is highly open, the country’s economic forecasts have been lowered as well;
  • The same range of forecasters expect growth to range from 2.4% to 3.8% (average = 2.8%) for 2026 and 2.8% - 5.0% (3.8%) for 2027;
  • The rate of inflation reached 8.75% in March 2025. This follows the heightened energy prices which pushed inflation up to 9.12% in January 2025, from the 5.43% level where it was in November 2024. NBM’s target corridor stands between 3.5% and 6.5% with a target rate of 5%;
  • As a response to this inflationary pressures, the NBM started monetary policy tightening. The base rate, which has been at 3.6% since May 2024, was raised to 5.6% in January 2025, and again to 6.5% in February 2025. In their March 2025 decision, the NBM kept the base rate at 6.5%;
  • In March 2025, the EU Commission green lit the EUR 1.9 billion support package for the Moldova Growth Plan.

 

Detailed financial results (report and presentation) can be found in the Results Center section of Investor Relations website (LINK).

 

Permanent Download Links:

 

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Conference Call 

Maib will hold conference call covering 1Q 2025 results on Tuesday, 6 May at 13:30, Chisinau time via zoom. 

To access the call please use the  following link using the access code 643633.

Simultaneous translation in Romanian and Russian will be available to the participants.

Please submit your questions via chat or via email at evgenii.risovich@maib.md.

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Teleconferința

Maib va organiza o conferință telefonică care acoperă rezultatele 1T 2025 pe 6 mai, la ora 13:30, prin zoom.

Pentru a accesa apelul vă rugăm sa accesați următorul link folosind codul de acces 643633.

Traducerea simultană în română și rusă va fi disponibilă pentru participanți. Vă rugăm să adresați întrebările dvs. prin chat sau prin e-mail la evgenii.risovich@maib.md. 

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Конференц-звонок

Во вторник, 6 мая, в 13:30 по кишиневскому времени maib проведет конференц-звонок, посвященный результатам 1 квартала 2025 года.

Чтобы получить доступ к звонку пожалуйста используйте  следующую ссылку используя код 643633.

Участникам будет доступен синхронный перевод на румынский и русский языки.

Пожалуйста направляйте свои вопросы в чат во время звонка или по электронной почте evgenii.risovich@maib.md.

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Recent investor relations releases

 

Upcoming investor events

  • 30 May - Sustainability report
  • June (TBD) - Annual General Shareholders Meeting (AGM) 2025

 

Contact investor relations

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

 

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