Moldova Agroindbank - The Bank of the Year 2012

The Banker Awards 2012 - Central and Eastern Europe

The banking sector of the Republic of Moldova is developing. The regional bodies called for the regulatory framework to be improved, encouraging banks to raise their management standards to avoid macroeconomic difficulties. Meanwhile, profits and asset quality as a whole continue to grow.

However, Moldova Agroindbank, the largest financial-banking institution in the Republic of Moldova, continued to grow exceptionally strongly.

Net income rose year-on-year to 101% in 2011 from 2010, even after a dramatic 180 per cent increase in 2010. Both assets and Tier 1 capital accounted for 111% of the previous year. The bank also achieved a return on equity of 16.3 per cent. While the cost-to-income ratio increased slightly, non-performing loans stood at a healthy 0.9% in 2011 compared to 3.4% in 2010.

Moldova Agroindbank has focused its efforts on adapting to new market conditions and developing new products in a challenging economic context. Its risk management capabilities have been strengthened at the level of credit, market and operational risks by implementing new methodologies and tools. Meanwhile, the quality of the credit portfolio, the supervision of costs and the optimization of business processes have also been the objectives of further improvement.

Electronic service channels have been another priority, as has an area in which the bank has invested heavily to develop new systems to increase productivity and customer service standards. These include M@IB Virtual Card services, eCommerce and distance learning projects, M@IB Internet-Banking services, SMS-Banking, InfoTel Service, eStatement, etc.

The bank also continued to diversify and adapt its products and services by developing a particular service for migrant workers, including real estate loans, business development, and several other benefits for migrant workers and their families.

Small and Medium Enterprises (SMEs), which make up 97.5 per cent of the total number of companies registered in the Republic of Moldova and employ 57.7% of the working population, have enjoyed the continued attention of BC Moldova Agroindbank ”SA. The bank currently has a market share in this segment of around 26%, accounting for almost 24% of its loan portfolio.

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