In an interview with Forbes Moldova, Giorgi Shagidze, CEO of maib, shares his vision for how Moldova’s leading bank is driving innovation, supporting SMEs, building a digital-first, human-centered financial ecosystem, and what lies ahead for maib.
What is maib's long-term vision for the financial market in the Republic of Moldova?
At maib, our long-term vision is to build a financial ecosystem in Moldova that is inclusive, digital, and human-centered — and to expand this model across the CEE region.
We see ourselves not only as a bank but as a tech-forward, purpose-driven company that is set to "create opportunities for people and businesses to grow and thrive".
Moldova is an incredibly interesting and promising financial market. It is healthy, underpenetrated, and supported by strong liquidity and capital positions. The country’s EU integration agenda, combined with a sharp focus on digitalization and structural reforms, provides a solid backdrop for long-term, sustainable growth.
If I bring in numbers, loan-to-GDP is just ~25%, the lowest loan penetration among peer countries, while equity-to-assets stands at around 13%, reflecting one of the strongest capitalization and liquidity levels in the region — all of which make the banking sector well-positioned for healthy and responsible expansion.
Maib, as by far the largest and most technologically advanced bank in the country, with a 37% market share in loans and 75% of loans and deposits granted via digital channels, is uniquely positioned to lead and benefit from this growth.
We’re building an organization that is transparent, with a strong culture of ownership, initiative, and accountability. We continue our agile transformation journey to ensure that customers are at the center of everything we do — shaping the future of finance in Moldova, and eventually exporting this successful model across the region.
What strategic objectives have you set and what is maib's impact on the development of the national economy?
Our strategic objectives are rooted in our purpose and vision, and they revolve around three core priorities. First, customer obsession — delivering simple, smart, and intuitive experiences for over one million customers, with an increasing focus on mobile-first interactions. Second, digital initiatives — continuing to innovate and bring into Moldova the best products and services available globally. And third, talent and culture — inspiring our people to realize their potential, while building a culture that values responsibility, empowerment, and collaboration.
Of course, as the largest bank in the country, we support 37% of all loans. We are the main partner to SMEs, sometimes granting every second loan in the country, playing a key role in driving entrepreneurship and economic development.
Through our transparent and sound governance, we contribute significantly to the stability and credibility of Moldova’s banking system. We also attract funding from reputable international financial institutions such as EBRD, IFC, EFSE, EIB, and others. Clearly, we continue to learn and grow together with the country and its economy, remaining deeply committed to Moldova’s long-term development.
What role does maib play in supporting small and medium-sized enterprises (SMEs), and how do you see this evolving?
We believe that a strong banking sector can act as a catalyst for broader economic transformation, and that starts with empowering entrepreneurs and small businesses. That’s why we have made SME banking a strategic priority at maib.
Over the past four years, we’ve grown our market share in SME lending from 22% to 38% — a remarkable achievement that reflects both our commitment and our innovation. Today, we grant almost half of all new SME loans in the country.
Our approach is built on simplicity, speed, and relevance. We’ve introduced highly targeted lending products for niche segments and streamlined the approval process. In fact, half of all our SME clients now have pre-approved credit limits, meaning that when they need financing, they can access it instantly.
We’ve also invested significantly in data and risk modeling, which allows us to more accurately predict creditworthiness — both for businesses and consumers — while expanding access in a responsible way. As a result, we’ve been able to deliver consistent loan growth of 15%+ per year, directly supporting the real economy.
Last year, we upgraded our dedicated business banking application, enabling small business owners to manage their finances more efficiently, digitally, and on their own terms. It is still in pilot mode, but is expected to be fully functional by the end of 2025.
Finally, we were honored to be named the Best SME Bank in Central and Eastern Europe by Global Finance — a strong recognition of our team’s hard work and impact, and something we are truly proud of.
How has technology and digitalization intervened in the banking industry in Moldova? What were the steps in maib's digital transformation and what are the next steps?
Digitalization is one of the most powerful drivers of transformation in Moldova’s banking industry — and at maib, it’s at the very core of our strategy. The country’s broader reform agenda, including the digitalization of government services, has also played a key role in making this transformation possible. These reforms are creating a modern digital infrastructure that enables faster, more secure, and more integrated financial services.
For example, in Q3 2022, only 11% of our retail loans were granted via the mobile application. Today, that number has risen to 75%, showing how fast and profoundly digital adoption has accelerated.
This shift hasn’t only increased convenience — it has significantly improved customer satisfaction. Our Net Promoter Score (NPS) for retail now stands at 73, a clear indication that customers appreciate the simplicity and speed of the new experience. About one-third of Moldova’s population already uses our mobile app.
Our mobile application includes modern features such as Face ID for login and transaction confirmation, digital onboarding and profiling, and even the ability to purchase insurance products in just a few clicks. We’ve reached a 37% share in DAE and 67% in overall MAU — both of which continue to grow.
We were named the Best Digital Bank in Central and Eastern Europe by EMEA Finance, a true recognition of our team's hard work and innovation.
Looking ahead, we will continue to invest in personalization and AI-driven insights to unlock the full potential of our customers and create even more relevant and seamless financial experiences.
Does maib have plans to expand into international markets or diversify its financial services portfolio? If yes, which markets are you targeting?
Looking ahead, maib is also exploring growth opportunities beyond Moldova. While our immediate focus remains on further strengthening our position in the local market and making customer centricity even more embedded in our culture, we see potential in regional expansion and cross-border services. Moldova’s increasing integration with the European Union creates new opportunities not only for our clients but also for us.
We are particularly interested in markets with large Moldovan communities and strong economic ties to our country. We believe that our digital offering is on par with — if not better than — that of our regional competitors.
Finally, I want to express my heartfelt thanks to our amazing team for their contribution, dedication, and loyalty. None of this would be possible without them.
Source in Romanian: https://www.forbes.ro/inovatia-in-adn-ul-celui-mai-iubit-brand-bancar-din-moldova-447358
