MAIB has been named the Best Bank in Moldova at the Euromoney Awards 2021. The Euromoney Awards recognizes institutions with the highest level of customer service, innovation and financial expertise. This prestigious award underlines MAIB’s leading position in Moldovan banking system, as measured by market share, profitability and growth, as well as MAIB’s continued investments in customer service and innovation.
Giorgi Shagidze, Chief Executive Officer of MAIB, commented:
“We are delighted and proud to receive this important and valuable accolade. It speaks to our efforts and the progress we are making in delivering the best banking experience to our clients, our leading role in driving corporate governance standards, quality and innovation. We will build on this and continue to be a catalyst for implementing the best world practices in Moldovan banking sector. I would like to thank the entire MAIB Team, our clients and shareholders for this outstanding result”.
Lucy Fitzgeorge-Parker, Emerging Europe Editor, Euromoney, commented:
"Moldova Agroindbank leveraged its market-leading position last year to boost its share of overall banking sector profits while maintaining a robust capital base and stable asset quality. Combined with solid progress on digitalization and innovation, this earned MAIB the award for best bank in Moldova."
This recognition from Euromoney adds to an impressive haul of awards received by MAIB this year:
- • second consecutive Best Digital Bank in Moldova from Global Banking and Finance Review
- • Best Bank in Moldova by Global Finance Magazine
- • “Straight-Through Processing Quality Award” from Reiffeisen International
- • “Golden Mercury” in Online Business and Debut of the Year for Gama Card product range from Moldovan Chamber of Commerce.
MAIB is the largest bank in Moldova, accounting for circa 30% of country’s banking assets and circa 35% in loans. MAIB provides 24.6% of all mortgage loans extended to Moldovans. MAIB averaged a 11.4% asset growth, 11.7% deposit growth and 8.9% profit growth in the last 5 years. The bank serves over 20% of Moldova’s population and is among the largest employers in the country. The bank is well capitalized with Tier 1 Capital ratio of 19.54%. MAIB boasts a five year average Return on Equity (ROE) of 13.54%. The bank is widely recognized for its customer service and product innovation. Since 2018, MAIB’s largest shareholder is HEIM Partners Limited, a UK registered company, representing the 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 funds manager.
Euromoney financial magazine is a leading financial publication founded in 1967. It reviews the performance of banks in nearly 100 countries. The publication’s awards has been recognizing banks around the world in various nominations since 1992 and were the first of its kind in the global banking industry. The award decision is made based on the analysis of performance of banking industry and financial institutions in different countries.