Maib had a profit of EUR 65 million last year

Moldova-Agroindbank (maib), the largest commercial bank in Moldova, whose one of the shareholders is the leading asset management group in the Baltics Invalda INVL, had an unaudited net profit of 1.25 billion Moldovan leu (MDL) (EUR 65 million) in 2023, which is 10.5% more than in 2022.

Maib’s net interest income in 2023 was MDL 2.15 billion (EUR 111 million), remaining at exactly the same level as in 2022. Net commission income rose 11.4% in the year to MDL 413 million (EUR 21 million). Other income grew 4.1% to MDL 605 million (EUR 31 million).

The bank’s loan portfolio amounted to MDL 23.9 billion (EUR 1.24 billion) at the end of 2023 and was 4.3% larger than a year earlier. Business loans portfolio contracted 1.5% in the year, while loans to households grew 16.7%.

Customer deposits at maib at the end of 2023 totalled MDL 39 billion (EUR 2 billion), 24.3% more than a year earlier.

“Despite base rate reduction over the year in Moldova from 20% to 4.75%, maib managed to demonstrate resilience and growth. Customer-oriented strategies enabled the expansion of the loan portfolio and payment segment market share, further strengthening its market leader position”, says Vytautas Plunksnis, the Chairman of the Supervisory Board at maib and Head of Private Equity at INVL Asset Management.

As of the end of December 2023, maib’s assets were MDL 52.3 billion (EUR 2.7 billion), 21.4% more than a year earlier. The bank had a capital adequacy ratio of 24.2% and a liquidity ratio of 280%.

About maib

Maib is the largest bank in Moldova. As of 31 December 2023, it accounted for 34% of the country’s bank assets market and 37% of loans. The bank serves more than a third of the people in Moldova and is one of the country’s largest employers. Maib has a high level of capitalisation – as of 31 December 2023, its capital adequacy ratio was 24%. The bank has been recognised for customer service quality and product innovation.

About Invalda INVL Group

Invalda INVL is the leading Baltic asset management group with a track record spanning over 30 years. Growing and developing with an open approach, it creates well-being for people through its work. The group’s companies manage more than EUR 1 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, and real estate as well as private debt. The group’s scope of activities also includes family office services in Lithuania and Latvia, management of pension funds in Latvia, and investments in global third-party funds.