Maib has been honored with two prestigious awards from EMEA Finance: Best Bank in Moldova 2023 and Best Digital Bank in the CEE and CIS Region. These accolades underscore maib’s commitment to innovation and customer-centricity in the banking sector and highlight the progress maib achieved on the digital front.
Upgrades focused on the customer, with digital leading the way
Maib has responded proactively to an ever-changing landscape of consumer preferences by investing in improved distribution channels, both online and brick and mortar. In 2023 major upgrades were implemented in the maibank application, including full digital onboarding, a redesign, implementation of many new attractive features. At the same time maib finalized its branch transformation, by upgrading all existing branches to the new standard.
Market share gains
Reflecting on the financial performance in 2023, maib prioritized customer support over short-term profits. This commitment has led to both market share gains and client acquisition, culminating in a notable market share of all bank loans in Moldova of 37.4% by the end of 2023. Moreover, since the start of 2024 amidst low interest rate environment and favorable economic conditions, maib remains poised to capitalize on opportunities for growth and enhanced competitiveness in the Moldovan banking sector.
Giorgi Shagidze, CEO of maib, said:
"We are truly honored that our hard work has been recognized by EMEA Finance. Digitalization has been pivotal in reshaping our operations, with over 55% of loans and 65% of term deposits now facilitated through our mobile app, maibank. I'm proud of the prudent and proactive approach we took in 2023, prioritizing investment in innovative initiatives and risk management functions, as well as long-term relationships over short-term gains. This has allowed us to increase our market share as well as the robustness of our organization. With our dedicated team and stakeholders' trust, maib will continue leading in innovation and positive impact."
About EMEA Finance
EMEA Finance Magazine is a leading publication dedicated to covering financial news, trends, and analysis across Europe, the Middle East, and Africa. With a focus on banking, investment, capital markets, and corporate finance, EMEA Finance provides insightful articles, interviews, and commentary from industry experts and thought leaders. The magazine offers valuable insights into regional economic developments, regulatory changes, and emerging market opportunities, serving as a trusted source of information for professionals and decision-makers in the financial sector across the EMEA region.
About maib
Maib is the largest bank in Moldova, with a share of 34.3% of deposits and 37.4% of loans of the entire banking system at the end of 2023. Maib is a disciplined lender with NPL ratio of 2.7% and is well capitalized with CAR of 24.2% as of 31 December 2023. The Bank is of systemic importance to the country as it serves almost a third of the population and is the largest private employer in Moldova, with a workforce of over 2,400 people. Since 2018, maib's largest shareholder is a consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading asset management group in the Baltic States and Horizon Capital, a private investment fund focused on emerging markets.
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