For the third consecutive year, maib has been recognized as the "Bank of the Year 2021 in Moldova" by the British financial magazine The Banker, part of the Financial Times group.
This year's award reconfirms maib's position as an industry leader reshaping the future of banking in the country.
The criteria for choosing country winners for this award includes the bank's financial performance, transparency, digital transformation, and innovation and COVID-19 pandemic response.
Giorgi Shagidze, CEO maib:
“We are very pleased to receive this very prestigious award, and we would like to thank The Banker for the recognition and appreciation of our efforts. With the refreshed strategy and with our new identity we will be focusing even more on our customers, on our digital presence, to make our clients’ lives easier, better and more mobile. We will be focusing on fundamentally transforming our company – business model, operational model, continuing to improve the way we serve our clients and, of course, continue leading the Moldovan banking sector. Sincere thanks to our winning team of employees who have made these achievements possible, and congratulations on earning this important international recognition”.
The Banker appreciated the progress made:
"Moldova’s economy has bounced back quickly from the difficulties of 2020, even after gross domestic product contracted by 7% over the course of the year. By the second quarter of 2021, private consumption had reached close to pre-pandemic norms after a strong increase in wages was accompanied by a healthy flow of remittances and social transfers, according to the World Bank. In addition, investment activity was also strong, partly as a result of the favourable monetary environment that has prevailed across the country. As a consequence, Moldova’s economic outlook appears bright.
The winner of this year’s Moldova country award, maib, has charted a course through this changing environment well. Much of the bank’s success is down to its clear and well-executed strategy, which is built around peerless customer relationships. Over the years it has also developed a reputation for the quality of the innovations it has delivered to Moldova’s banking market. The bank is not resting on its laurels, however, and continues to play an important role when it comes to product and service offerings for its customers across the country.
The success of maibank, the lender’s mobile banking app, is a case in point. The number of clients using maibank has doubled since the end of 2019, with more than 230,000 active customers making use of the platform”.
The Banker Awards represent one of the highest distinctions in the banking industry, being a recognition of excellence and performance, of added value in relation to customers, innovation and leadership brought to the communities in which banks operate around the world.
Earlier this year, maib clinched Euromoney’s award, being named Best Bank in Moldova. The bank has also received awards for its innovation work, such as the Best Digital Bank in Moldova by Global Banking and Finance Review, recognition received for the second consecutive year. Global Finance honored maib Best Bank in Moldova.
The Banker Magazine organized the 2021 awards ceremony on a virtual platform, on December 1, 2021, which was attended by CEOs from around the globe.
Maib is the largest bank in Moldova, accounting for 31.1% of country’s banking assets and 34.2% in loans for 9 months 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.
The bank 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.
About The Banker
The Banker provides economic and financial intelligence for the world's financial sector and has built a reputation for objective and incisive reporting.
The Banker has been the trusted source of information about the banking industry since 1926. The Banker has navigated its way through 91 years of banking coverage from the Wall Street Crash of 1929 to the current financial crisis with the same reputation for accuracy, authority and integrity. For more information, please visit The Banker’s website.